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.N MMI e � a. m i •; 90"07189 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. 8. Inspection. Leader 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 cruse for the inspection. 9. Condemnation. 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 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 Instrument, whether or not oxen due, with any excess paid to Borrower. In the event of a partial taking of the Property, unless Blorrower 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 of the takims secured inutiediatelY before sibs taking, divided by (b) the fair market value of the Property " paid to Borrower. fif the Property 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 regwad to Lender within 30 days after the date the notice is given, Lender is authorized tocollect 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 BorcQu a otherwise agree in wasting, any application of proceeds to principal shall not extend or postpone the due date of the rnontl`Jly payments referred to in paragraphs I and 2 or change the amount of such payments. 10. Borrower Not Rekasedt Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization cf 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. 11. Successors and Assigns Bound; Joint and Several Liability; Co- signers. The cover nets and agreements of this Security Instrument shall hind 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 S" -uiity instrument only to mortgage, grant and t•ni>vey 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 charges, and that low is finally interpreted so that the interest or other loan charges collected or to he collected in connection with the loan exceed the permitted limits, then: (a) any such ban charge shall he reduced by the amount necessary to reduce the charge to the permitted limit. and (h) any sums already collected from Borrower which exceeded permitted limits will he refunded to Borrower. Lender may choose to make this refund by reducing the principal owed tinder t he 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 Inst rument 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 19. 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 be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall he 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 mad 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 a hers given as provided in this paragraph. 15. Governing law; Severability. This Security Instrument shall he governed be federal law and the Vass of the jurisdiction in which the Property is located. In the event that any prrsisitm or clause of this Security Instrument or the Note conflicts with applicable law. such conflict shall not affect other provision% of this Sccurm Instrument or the Note which can be given effect without the conflicting provision. ro this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given tine conformed copy of the Note and of this SLcurm 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 (or if it beneficial interest in lorrower t• sold or transferred an.: Borrower is not a natural person) without Lender's prior written consent. Lender may. at u% op::-n. require immediate payment in full of all bums secured by this Security Instrument. However, this o;,::.n shall not he exetcn:d ; y Lender if exercise is f'roHlined by fcderal law asof the dateofthisSecurity In%trumear If Lender exercises this option, Lender shall r., Borrower notice of ao: ce!eranor,. The notice shall r•ry dlt a penod of not less than 30 duv% from the date d r nottee is delivered or mailed uahin w hwh Burrower muw- pay all sums secured by this Security Instrument. If Borrower ':AE!.s pay these %ums prier to the expiration of this perivC:. Lender may invoke any at,..t.c.c...,,... _,, to. rr.. mo ntwithoutfurt her notice or demand i onBorrower. 11I. Borrower's �Rigbt to Reinstate. If liorrow'er meets eertatti condtttaris. ffarrower shall have the right to have enforcement of this Se:urity Instrument discontinued at any time pnor to the earl: er •,f (a) S days for such other period a% applicable iaM may specify for reinstatement 1 before sale of the Property pursuant i., ;tnv power of sale contained in this Securt:ty' lnsrrunen:; or (h) entry of a judgment enforcing this Security Instrument. T hose cer0rt m% are that liormwrr N) pays Leader all sums which then would he dole under this Security Instrument and the Carr had tit) acceleration occurred. (bi' cures, any default of any other covenants tin agreements; to Pays all expenses incurred in enforcing this Security Instrument. inciuding. but not limited co- reasonable attorney%' fees and Id) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument. Lender', rights in the Property and Borrower's nbitgation to pay the sums secured by this Security Instrument shall continue unchanged Uport reinstatement by iorrower. this Secunq Instrument and the obhgattons %ecured hereby shall remnn fully etTcm tisc as if no acceleration had occurred. Hwaever. this right to rein%tate shall not apply in theca %e of acceleration under paragraph% 13 or 17 „7 - " - � -y�'f tins• i t 7 , , t t 7