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t, ' <<11 � � :�5� ;r.>.�• :i�� is 1 !.' 90'-' -1061 78 1 if Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument. Borrower shall pay the premiums required to maintain the insurance in effect until such tim: as the requirement for the insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. t. iwapaotloa. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 9. CondewinaNa. The proceeds of any award or claim for damages. director consequential. in connection with any condemnation or other taking of any part of the Property. or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Leader. in the event of a total taking of the Property. the proceeds shall be applied to the sums secured by this Security Instrutent, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property. unless Borrower and Lender otherwise agree in writing, the sums secured by this Security instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately bdbre the taking, di_.idcd by (b) the fair tnsrltet value.- 4the Property immediately berate the taking. Any balance shall be paid to Borrower. If the Ftaperty is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages. Borrower fails to respond to Lender within 30 days after the date the notice is given. Leader is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Security Instrument. whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments• referred to in paragraphs I and 2 or change the amount of such payments. 10 Borrower Not Releaatt FoOmmtmee By Leader Not a Waiver. Extension of the time for payment or modification of amortization of the suns, %wa-ed by this Security instrument granted by Lender to any successor in interest of Borrower shall not oVerate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or oftmise modify amortization of the sums secured by this Security Instr un: nt by reason of any demand made by the original Borrower or Borrower's successors in interest. Any fortiftrznce by Lender in exercising any right or remedy shall not be a waiver of or prelude the exercise of any right or remedy. 11. Soccessora and Assigns Barad; Joint and Several Uability; Co- si>ptera. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of pratagraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security ItaaCrurnent but does not execute the Note: (m) es co-signing this Secutart; Instrument only to mort&afe, grant and convey that Borrower's interest in the Property uM&W lane terms of this Securiq- rizirument; (b) is not perwf. rty obligated to pay tine sumps secured: by this Security Instrune mil, amd (e) agars that L =Zee and any other Borrower rxAy agree to extend, mTC><d -& Sarbear er muke aayr nzcomamodadons with regard w- the terms of this SecuntT Ditsirument or the Note without tlCtiL' i3�ti rarwea S Ci'�eLat. . . ]lI. DwianChaages. R-the loan secured by this Security Instrument is subject to a law which sets maximum loan ehargv, aced i-kh= dew is finally interpreted so that the interest or ota-.r loan charges collected or to be collected in connection with atte loan txceed the permitted limits, then. (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 13. Le" don Affecting Lender's Rights. If enactment z r expiration of applicable laws has the effect of rendering any provision of the Note or this Sz-.m ity Instrument unenftilYozable according to its terms, Lender, at its option, may require immediate payment in full of mLL sums secured by this Security instrument and may invoke any remedies permitted by paragraph 19. If Lender exercLsgs this oy6an,1! wider shall take the steps specified in the second paragraph of r=sgraph 17. 14. Nadees. Any notice to Borrowas ;provided for in this Smu i y �rtstra:sent shall be given by deliverit g nt crr• tTy mailing it by �rv, class mail unless applicaMe law requires use of atiosa'tee :stethod. The notice shall be directed c3 dr-re Property Address or any other address Borrower designates by noure ion L,.•rider. Any notice to Lender shall be given by first class mail to Lenders address stated herein or any other addresiL.en er designates by notice to Borrower. Any - notice O.-Nided for in this Security Instrument shall be deemed to Leave been gm= to Borrower or Lender when given ac pro%ided ,tiz tNs paragraph. 15. Gverning Lawi Severability. This Security eastrumeat sY? be governed by federal law and the law of the jurisdiction in which the Property is located. In the event that any proaasion or clause of this Security Instrument or the ,N66 conflicts with appiicable law. such catnMet shall not affect other provisions of this Security Instrument or the Note uttt & can be given effect wilAouc the conflicting pmvismm. To this end the provisions of this Security Instrument aced the .1 aware de dared to be sevemb le. 16. Borrower's Copy. Borrower shall be given are conforned copy of the Note and of this Security Intro meittt.' 17. Thmsfer of the Property or a Beneficial Interest oci &dc> ewer. If all or any part of the Property Or 21MY+ interest in it is sr^lif. or transferred (or if a becxftial interest in Borrower ur old or transferred and Borrower is not a stz *m* person) without Lender's prior written cament, Lender tray. at its op itin, require immediate payment in full of $2 Sena -s secured by this Security Lnsr'ruinent. However. this olrricia shall not be exercised by Lender if exercise is proLid' m ad! fag' fedeal law as of the date of thira umrity Tnstl =t. If Lender exercises this option, Lencims- %M-1 &e:e &'Towei notice of acceleration. The notice shall provide a period of not less than 30 days from the date thenctua-i_ LS d(Jav iwed or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails ro pay rliese. sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security instrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Bonower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note had no acceleration occurred; (b) cures any default of any other covenants or agreements. (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument. Lender's nghts in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower. this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17. T. ills.