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90- 106951 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 time as the requirement for the insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. a. Inspection. Lender or its agetit may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specif j ing reasonable cause for the inspection. 9. Condematlea. 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 assiSued 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 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 before the caking divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to lk-Trower. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or sett:e a claitn 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 secured by this Security Instrument, whether or not thhen due. Unless Lender and Borrower otherwise agree in writing. arty application of proceed : tr principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs I sera 2 or charge 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 of Borrower shall not operate 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. 1t. Successors and Assigns Bound; Joint and Several Liability; Co-signers. 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 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 Instrument only to mortgage, grant and cunvey 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. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan Ix- charges. and that law is finally interpreted so that the interest or other loan charges , lice td or to he collected in connection with the loan exceed the permitted limits, then: (a) any Such loan charge shall he reduced by the amount necessary to reduce the charge to the permitted limit. and (h) any sums ulready collected from Borrower which exceeded permitted limits will be refunded to Borrnwer. 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 Lenders Rights. If enactment or expiration of applicable laws has the effect of rendering any provision of the Note or this Security 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 I Q. 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 class mail unless applicable law requires use of another method. The notice Shull 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. Any notice provided for in this Security Instrument shall he deemed to have been given to Borrower or l.ender when given as provided in this paragraph. 15. Governing Law; Severability. This Security Instrument shall he 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 Shull not affect tither provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provision% of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower Shull toe 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 troy interest in it is sold or transferred for if a henelk ial interest in Btirruwcr n sold or transferred and Borrower i% not a natural person) without Lender's prior written consent. Lender may, at its option. require immediate payment in full of all sums secured by this Security Instrument. However, this option Shull not he exercised by Louder if exercise is prohibited by federal law as of the date of this Security Instrument. If Lender exercises this option. Lender %hull give Borrower notice of acceleration. the notice shall provide a period of not less than 30 days from the date the notice is delivered tic mailed within which Borrower must pay all.ams Secured by this Security Instrument. If Itorrow•er fads to pay these Sums prior to the expiration of this penal. Lender may invoke any 2).. remedies permitted by this security instrument without dui iitci u„i,a.c.•i milla s...—, ....7:::: 18. Borrower's Right to Reinstate. If Borrower meets certain condition%. Borrower Shall have the right to have enrur,cement of this Security lnstrument discontinued at any time prior to the earlier (if: to) 5 days for Stich other period as apple cable lass mac Specify for reinstatement before sale of the Property pursuant to any potter of sale contained itt this Secure} Instrument. or thl entry of judgment enforcing thi% Seca,rat +. 1:!•.1rument. Thosc condttnms arc chat Burrower: la) pays Lender all sums whtcF: then would be due under this Security Irstrumenr..111,1 i he Mute had no acceleration occurred: (b) cures any &fit ih of any other ctit enants or agreements. to pays as expense% incurred in enforcing this & -cone% Instrument. includinE. hat not limited in. reasonable anorneys' fees: and 4,& 'ake% such action as Lender may ceasonab)y require to assure that the lien of this Security In%trumcr.• :.. Lender'-, rights in the Property and Borrower's obfigation to pay the sums secured by this Security Instrument sha:" cc-11111ue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations, Secured hereb) Shall remain fulls effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 tir 17 lip-