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'!' - � � � - �i��°° 1 Q6'713 � IP Lendcr rcquircd m�rtgage insurunce as a canditian af mpking the Ioan srcurccl by this Security Instrument. Horrower shaq pay the ptemiums requircd to maintain the insurunce in effect witil such time us the reyuirement for the � insurance terminatea in accordance with Borrawer's and Lender's written agrcement ar o�plicuble law. 8. Iaspection. Lender or its agent msy make ra�onsble entries upan and inspections of the Preperty. Lcnder shall give Borrower notice at the time of or ptior ta an inspection speciPy ing reasonuble cnuse Par the inspection. 9. Condemnation. The procecds of any�ward ot claim for dAmages,direct or consequential,in connection with any condemnation or other taking of any part af the Property, or Par conveyance in lieu of eondemnation, are hereby assigned and shall be paid to l.ender. ln the event of a total taking of the Propeny, the proceeds shall be applied to the sums secured by this Security Instrument.whether or nat then due,with eny excesa puid to Borrawer. ln the event of a partial taking of the Prop=rty. unless Borrower and Lender otherwise agrce in writing,the sums secured by this Security lnstrument shall be reduced by the an�ount of the proceeds multiplied by the following fraction: (a)the total amount of the sums secured immediately before the taking,divided by(b)the fair market vulue of the Praperty immediately before the taking.Any balance shall be paid to Borrower. lf the Property is abar�d�ned by Bonower,or if,after notice by Lender ta Bonower that the condemnor offers 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 suthorized 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 then due. , Unless Lender and Borrower otherwise agree in writing,any application of proceeds to principal shall not extend or � postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount os such payments. : 10. Borrower Not Relesaed; Forbearance By Leeder Not a Wnlver. Extension of the time for payment or modification of amonization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall�ot operate to release the liability os the original Borrower ar Bonower's successors in interest. Lender shall not be tequired to,commence proceedings against any successor in interest or refuse to eatend time for payment or atherwise modify amonization of'the sums secured by this Security Instrument by reason of uny demand made by the original Borrower or Bosrower's successors in interest.Any forbearance by Lender in eaercising any right or remedy • shall not be a waiver of or preclude the exercise of any right or remedy. . ll. Successors and Assi�s Bound;Jo�at nnd Several LiAbility;Co-slgnee�s. The covenants and agraments of this Security lnstrument shall bind and benefit the successors and assigns of Lender and Borrower,subject to the provisions ' of paragraph l7.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 casigning this Security Instrument only to mortgage,grant and convey ' • � '=- that Borrower's interest in the Property under the terms ot'this Security Instrument;(b)is not personaUy abligated to pay �__. the sums secured by this Security lnstrument;and(c)agrees thAt I.ender and any olher Bonower may agtce to extenti. - r modify,for�ear or make any accammodations with regard to the terms of'this Security Instrument or the Note without ��t: . that Borrower's consent. ' 12.� Loan CltatgPS. 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 . conneeiion with the loan eaceed 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 Bonower.If a refund reduces principal.the reduction will be treated as a . partial prepayment without any prepayment charge under the Nate. � 13. Legislation Affeeting Lender'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 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 l9.lf Lender exercises this option,Lender shall take the steps specified in the second paragraph of 'lA�`� paragraph 17. ;= � 14. Notices. Any notice to Borrower provided for in thss Security Instrument sha1)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 � �f Pro�+erty Address or any other address Bonower designates by notice ta Lender.Any notice to Lender shall be given by � first class mail to Lender's address stated herein or any other address I,.ender designates by notice to Borrower.Any notice , , provided for in this Security lnstrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. . 15. Gorerning Ls�w;Severability. This Security Instrument shall be governed by federal Iaw 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 confacts with applicable law,such conflict shall not affcet ather provisions�f this Security lnstrument or the Note . which can be given effect without the conflicting provision.To this end the provisions oF ihis Security Instrument and the . Note are declared to be severable. : � 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Transfer of t6e Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in ii is sold or transferred(os if a beneficial interest in aorrower is sold or transfened and Borrower is not a natural person)without Lender's prior written consent,Lender may.at its option,require immediate payment in full of all sums seeured by this Security Instrument. Howevet, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security instrument. � � �— ` If Lender exercises this option,Lender shall give Borrower notice of acceleration.The notice shall provide a period ' of not less than 30 days Srom the date the notice is delivered or mailed within which Borr�wer must pay all sums secured by this Security Instrument.If Aorrower fails to pay these sums prior to the expiration of thic period.Lender may invoke any ; remedies permitted by this Security Instrument without further nolice or demand on Borrower. � l8.Horrower's Right to Reinstate. If Borrower meets cenain conditions, �orrower shall have the right to have enforcement of this Securety Instrument discontinued at any time prior to the earlier of:(a)5 d�ys(or such other period as � L applicable law may�specify Por reinstaternent)before sale oi'the Property pursuant to any power of Sale contained in this S�ecurity Instrument:or(b)entry of a judgment entors;ing this Security instrument. Those conditions are that Borrow•er: (a) pays Lender al) sums which then would be due under th�s Security Instrument and the Note had no acceler2tion � " c�ecurred; (b)cures any default of any other covenants or agreements; (c) pay�all expenses incorred in enforcmg th�ti �� Security Instrument, including, but not limited to, reasonable auorncy�' fcey: and (d) �aketi wch act�on ati l.ender may re��sonably rryuire t�, assure that the lien iif this Serurity Instrument. Lender's nght� in the Yr��perty and Nnrmwcr'ti r' '' oblig.►U�m ta pa} the sunts tiecured by thit Secunty In�trument sh�l) ccmt�nuc unc}:an�;ed l'�+�rn rem�ta�ement hy �' ` Rnrr��wer,th�s Security lmtrurnent and�he<�bl�gauun�tiecured hereh��hall remain fully eff�erh�e nti i(ni�,+cccleraei�m had �,uurred Hc�we�cr.thi�nght tu reui�tatr�hall n��t upply in thc c:►�c�,f';irccicn�hun uridcr r:tra�:r:!�h� 1�i�r 17 , �