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� _ � � � � , �(M.� i 066'�4 vv � If 4ender cequired martgage insurante as a canditian af making the laan secured by this Sccutlty lnstrument, Borrower shall pny the premiums requir�d to maintain thr insuraacc in effcct until such time rs ti►e�requirement for tl�e I insurance termtnates in acrordance with Borrower•s and Lender's written ugreement or applicat�lr I�►w. j 1. IupccUoe. Lender or its a�ent may make rasonable entries upon and i�spectians oi'the Property. Lender shall � �ive 8orrower notice at the time af or priat tn an inspection specifying reasonable cause for the inspection. 9. Coedema�tHon. 7'he proce�ds af any award or claim for damages, dlrect or cansequential. in co�u�ectiot� with any condemn�tion ar other taking oi any part of the Property, or far conveyance in lieu of candemnatian, are�hereby asslgned �t►d �hall be pdd to Lender. in the event of a total taking of the Property, the proceeds shal! be applied to the sums secured by this Security Instrument, whethor or not then due. with any excess paid to Bonower. In the event of a partial taking of the Property, unless B�rrower end Lender otherwlse agree in writing, the sums srcured by this Srcurity Inst�ument shall ba reduced by the amount of the praceeds multiplied by the following iraction: (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 shaU be paid to Bonower. If the Propeny is adandoned by Horrower� or if, after notice by Lender to Hurrower that the condemnor offers to make an award or settle a claim for damages. Borrower Pails to respond to Lender within 30 days after the date the natice is glven, Lender is anthoNzed to collect and apply the proceeds. at its option, either to restoration or repair of the Property or to ihe sums secured by this Security Instrument, whether or not then due. ' Unless Lender and Borrower otherwise agree in writing, any application of proceeds to prine9pal shall not extend or � postpone the due date of the monthly payments refened to in paragraphs 1 and 2 or change the amount of such payments. 10.Borro�ver Not Rekaaed; Forbesrnnce By Lender Not s Walver. Extension of the time for paymtnt or modification � of amartizatian of ihe sums secured by this Secnrity Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liabillty of the original Borrower or Borruwer's successors in inteeest. Lender shall not be 1 requlred to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise uoodify amortization of the sums secured by this Security lnstrument by reason of any demand made by the origi�al Bonower or Bonawer's successors in intetest. Any forbearar►ce by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right ar remedy. 11. Succes�ors aad A�u Bound; Joiat aad Serenl Lia4ility; Co-sisners. 7'he covenants and agrecments of this Security Instrument shall bind and bene�t the successors and assigns of Lender and Borrower� subject to the provisieas of paragraph 17. Hoaower's covenants and agreements shall he joint and several. Any BorroNer who ca-signs this Security , • lnstr�ment but das not execute the Note: (a) is co-signing this Security lnstrament only to mortgage, grant and convey 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 othcr Horrower may agree to extend. modify, j ior'oear or ma�e any accommodations wicfi regard co the urms oi cnis �ecuriry tnsuumem or the rtou wicnaut enat - _- - � Borrowcr's consent. � I2. Loas Char�ea. if the. loan secured by this Security Instrument is subject to a law which sets maximum loa� � ' ehargos, 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 tho amount necessary to reduce � j the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be .�� � refunded to Bonower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to borrower. lf a refund reduces principal, the reduction will be treated as a partial prepayment wihout any � � prepayment charge under the Note. r -i l3. I.eSWaUon Attectisg Lender•� Rlg6t�. If enactmen:or expiration of applicable laws has the effect of rendering any � provision of the Note or this Security Instrument unenforceable according to its terms, Lendar. 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 speci�ed in the second paragraph of paragraph 17. `� � 11. Notkes. My notice to Bonower 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 be directed to the ' i Property Address or any other address Borrower designates by notice to Lender. Any notice to Lsnder shall be given by�rst •�� ? 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 patagtaph. � : 13. Governieg La�r; Sevenbility. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Propeny is located. In the event that any provisions or clause of this Security Iastrument or the Noie conflicts with applicable law, such cont]ict st�all not affect other provisions of this Security Instrument or the Note which can be given effeot without the conflicting provision. To this end the provisions of this Security Instrument and che Note are declared to be severable. j . 16. Bormwer'� Copy. Borrower shall be givea one conformed Copy of the Note and of this Security Instrument. � l7.Traester o!the Property or s Beneflcisl Interat in Borro.rer. lf all or any part of the Property or any interest in it is sold or transfetted (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natura{ person) � without Lender's prior written consent;Lender may, at its option, require immediate paymeat in full of all sums secured by this Security Instrument. However. this option shall not be exercised by Lender if exercise is prohibited isy federal law as of the date of tHis Security Instrument. If Lender.exercises this option. Lender shall give Bottower notice of acceleration. The notice shali provide a period of not less than 30 days from the date the notice is delivered or mailed within which the Borrower must pay all sums secured by ___-_-T=--__ this Security lnstrument. lf Borrower fails to pay these sums prior to the expiration of this period, Lendtr may invoke any � � remedies permitted by this Security Insttument without further notice or demand on Borrower. 18. Borrower's Ri�bt to Reinstate. If Borrower meets certain conditions. Bonower shall have the right to have ` � enforcernent of this Security Instrument discontinued at any time prior 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 sate contained in this � Seeurity lnstrument; or (b) entry of a judgment enforcing this Security instrument. Those conditions are that Borrower (a) pays Lender all sums which then woutd be due under this Security lnstrument and the Note had no acceleration occurred; (b) � cures any default ol any other covenants or agreemtnts; (c) pays all expenses incurred in enforcing this Security instrument, including.but not timited to, reasonabie attorney's fees; and (d) takes such action as Lendor may reasonably require to assure �� t that the lien of this Security instrument, Lendtr's rights in the Property and Borrower's obligation to pay the sums secured N• � by this Stcurity Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the �� , obligations secured hereby shall temain fuily effective as if no acceleration had occurred. However, this right tn reinstate shall , � � � not apply in the case of acceleration undes paragraphs 13 or 1'7. �., � , ! ! _. �J . '