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M -err MN 90-106940 If Leader requited mortgage insurance as a condition of rtsking the lean secured by this Security Instrument. Borrower shall pay the premiums required to maintain the insurance in effect until such time as the n quirentent for the insurance terminates in mcordaaoe ttvi h Borrowees and Lender's written agreement or applicable lawn. & irpaedw Lender or its agent may make reawsable entries upon and inspections of the Property. Lender doll give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. !. Corimsedort. The proceeds of any award or claim for damages, direct or consequential. in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby au*m d and shall be paid to Lender. In the event of a total taking of the Property. the pmeceds 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 Horrower and Lender otherwise epee in wrift the sums secured by this Security hmrrument :ball be reduced by the aoaoom Qf the proceeds multiplied by the following fraction: (a) the tool amount of the sums secured immediately I F In 1 the is kW& divided by (b) the fair mairket value of the Property immediately before the taking. Any balance shall be paid to Borrower. llf the Psopetty is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor ollers to snake an awmsd or teak a ch m for damages, Borrower fails to respond to lender within 30 days alter the date the notice is liven, Leader is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the scum sxctsred by this Security instrument. whetber or not then due. Union Lender and Borrower otherwise agree in writing„ any application of proceeds to principal shall "extend or postpone the due date of the monthly payments referred to is paragraphs 1 and 2 or change the amount of such payments. 10. Borrower Not Rdeaaedl Forbearance By i etsder Not a Waiver. Extension of the time for payment or modification of amortiadon of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower doll not operate to release the liability of the original Borrower or Borrower's successors in intew..t. Lender shall not be required to commence proceedings against any succeswr in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Securh y 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 dull not be a waiver of or preclude the exercise of any right or remedy. 11. Successors wad Asslps Barad; Joint wad Several Liablllty; Co- signers. The covenants and agreements of this Security Instrument shall bind and bendt the successors and assigns of Leader and Borrmwer, subject to the provisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Inswument oniv to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is vol personally obligated to pay the sums mcured by this Security Instrument; and (c) agrees tba. tender and any other W-wrower may agree to extenr modili; lbrbear or make any accommodations with regard to the items of this Security Instrument or the Note withou: that Borrower's consent. 11 Lout Cheingea. 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 loaf charges collected or to be collected in connection with the loan exceed the permitted limits, then: (a) any such loan charge sba;fi be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected dram Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund b} veducing the principal owed tinder the Note or by making a direct payment to Borrowet . If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 13. lAgfalvdasi Affecting Leader's Rights. If enactment or expiration of applicable laws has the effect of rendering any provision of the Note or this Security instrument unenforceable according t o its terms. Lender, at its option, may require immediate payment in full of all sums secured lbp this Security Instrument and may invoke any remedies permitted by paragraph 19. if Lender exercises this option. Lender shall take the steps specified in the second paragraph of paragraph 17. 14. Notions. Any notice to Borrower provided for in this Security tnsarument shall be given by delivering it or by mailing It by first clays 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 noire to Lender shall be given b.% first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided'for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 1S. GVerniag Law-, Severability. 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 oonflicts with applicable law. such conflict shall not affect other provisions of this Security Instrument or the Nvte which can be given effect without the conflicting provision. To this end the provisions of this Security instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one conformed ccr� .cif 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 interese m it is sold or transferred (or if a beneficial interest in Wwower is sold or transfers eL and Borrower is not a natural personp without Lender's prior wnecen consent, Lender may. ai as option, require immedatt payment in full of all sums secured !ati ibis Secn:tity Instrument. However. Fhis option sloaL" runt be exercised by Ler ver if exercise is prohibited by federal law as of vt:e date of this Security (nstrumen : If Lender exercises this option. Lender shall give Borm-Aer notice of 4w,eieration. The notice shaU provide a period of not less than 30days from the date the notice is delivered or ma :;ed within which Borrower must pay a6 sums secured tj this Security Instrument. If Borrower fails to pay these sums errs. to the expiration of this period, lender may invoke ac } remedies permitted by this Security Instrument without further notice or demand on Borrower. Role =C V Rerr ..... -;;-1: h ..::a :;....... -d:::: s, 8:.:: c: �. g:: :.c � R : ro enforcement of this Security Instrument discontinued at any time pnor to the earlier of (a) S days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of seek contained in this Security Instrument; or (b) entry of a judgment enforcing this Security instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under rhos Security Instrumenr 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 Secumy lnstrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such acrion as Lender may reasocaMy r"wre to assure that the lien of this Security Instrument. Lender's rights to 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 rase of acceleration under paragraphs 13 or 17. �ra!auatt�.tsifu; ;.��ritraz�xW f -.