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If Under required mortgage insurance as a condition of making the loan "cured by this Security Instrument. Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. 0, laspeetion. 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. Condemnation. 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 Lender. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument. whether or not then due. with any excess paid to Borrower. In the event of a partial taking of the Property, unless Borrower sad 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 frat:liou: (a) the total amount of the sums secured immediately before the taking. divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower. if the Property is abandoned by Borrower, or i` after notice by Lender to Borrower that the condemnor ciders 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, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums . ecured 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 V stpone the due date vC the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest off Wrrower shall not opera¢e 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 otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors andassigns of lender and Borrower, subject to the provisions of paragraph 17. Borrower's covenant- ttnd agreements shall be i6nt and several. Any Borrower who co -signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, gram acid %;%'nvcy that Borrower's interest in the Property under the terms of this Security Instrument: (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security instrument or the Note without that Borrower's consent. 12. I.oars Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed 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. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has the effect of rendering any provision of the Note or this Security 1 instrument unenforceable according to its terms. Lender, at its option, may require immediate payment in full of all sums -secured by this Security Instrument and may invoke any remedies permitted by paragraph 1t). if Lender exercises this option, Lender shall take the steps specified in the second paragraph of paragraph 17. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall he given by delivering it or by mailing it by first clan mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Am nonce provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. IS. Governing Law, Severab(lity. This Security instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict -hall not affect other provisions of this Security Instrument or the Note which can be given effect without t he conflicting provision. Tc this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Doerower shall be given one conformed copy of the Note and of this Security instrument. 17. Transfer of the Property or a Beneficial Interest in Borrower. if all or any part of the 'Property or any interest in it is sold or transferred for if a beneficial iutcrest in Borrower 1+ gold or transferred and Borrower is not a natural person) without Lender's prior written consent. Lander may. at its option, require immediate payment in full of all sutra secured by this Security Instrument. However, this spurn %hall not he excicised by Lender if exercist is prohihned by federai law as of the date of this Security instrument. if Lender exercises this option. Lender shall give 8orr:�utr notice of acceleration. 'I lie nonce shall provide r period of not less than NI dates from the date the notie: r delivered or mailed within which Borrower must pay all sum+ secured by this Security Imii:curnmt. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any .�__.....! . La.....,- remedies permitted by this Security Instrument without iuritice u-,ii�c _.. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions. Borrower %halll have the right tr have enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such tither period as applicable law may specify fife reinstatement) before sale of the Property pursuant to any power of sale coniamed iii this Security Instrument. or (b) entry of a judgment enforcing this Security laastrument. Thus- conditions are that Borrower (a) pays Lender all sums which then would he due under this Security Instrument and the Note had no acceleration occurred. (b) cures any default of any other covenants or agreements: (e) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to. reaminahle avtorneys' fees: and (d) takes such action as Lender may reasonably require to assure that the lien of this Secunty laitrumeni. Lender's rights in the Property and Horn -Ws obligation to pay the sums secured by this Security Instrument shat,[ continue unchanged. Clion reinstatement by Borrower. this Security instrument and the nbligatiom secured herch, shAi remain fully effective as if no acceleration had occurred. However. this right to reinstate shall not apply in the case of acceleration under paragraphs 1.1 or 17 <r gg