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10W Son-owe, mate care such a default and reErrstate. as provided in paragraph i8. by c►4 the attlon or proceeding to be 4-smissed wdn a ruing that, in Lendte!r's good 40 detetmirwllon, produces ftltfeiafte of the Somver's Interest in the Properly or other material inparment of the Lien created by this Security Instrument at Lender's security Intereai. Borrower shed also be in defaut N Borrower. during the k= ap §*n process. gave matlrWy Wee or Inaccurate inforrrtatfo!t or statements to Lender (or !aged to prcrdide Lender with arry mem0,4 in!ornwtian) in connection with the loan evidenced by the Note. Inckiding. but ncf. %i ted to. representations crAcetnhg Bzaowers occupancy of the Property as a prh*al nr4dence. It this Security instrument i- on a leasehold. Bom ww shy comply with all the provisilom of then lease. It Borrower acquires tee title to the Property, the Ieasahold and the tee We shall not merge unless Lender agrees to the merges In w 7. Protection of Lender's Rights in the Property. it Borrower huts to perform the covesrtants and agvemerits contained ire this Security Instrument or there Is a legal proceeding ihal may sigrniaantfy affect Lenders fights in the Property (such as a proceedng in bankruptcy. probate. for condemnation or forfeiture or to er;orce laves or regulations). then Lender mt.y do and pay for whatever is necessary to protect the value of the Property and Lender's rights in the Prof,+emrty. Lemi,r s actlor,s may include paying arty sums secured by a tiers which has priority over this Securty Instrument. rpiwvvi ng in rcurt. payfnQ reasonable attorneys' teas and entering on the Property to make repairs. la,ftwo Lender may take ar llon under U-48 paragraph 7. Lender does not have ;o do so. Any amounts disbursed by Lender under paragrapn 7 shr! become add'tto^ed debt 03 Borrower secured by this Secvrty Instrument. Urfess Borrower a.•nd Leander agree to other trans of payment theism tvnau is shall bear Interest from the date of disbursement nt the Note rate and shat be payabie, with Interest. upon notice *cm Leander to Borrower nqueistltg psyment. S. Mortgage Insurance. It Lender rnqu2recf mor:(yr Invzonote Re s aarAftop of making the loan secured by this Sa=lty instrument. Borrower shall pay Ina prey *m c natured to maintain the mcstgage nstsunce In Rlfect f1, for any reason, the mortgage instaance coverage required by Lender lapses c! c9bses to be In e%0. Borrower shalt pal the prcrrtlruns required to obtain coyer, ge substantially dyulyaient to the mortgages lnsunr-~*» previously In ele&., at a octet aubstanfally equlva rnl to the cost to Soffcmer c' the mortgage insurance prevkK,sly Ran effect. k -n an alternate morlp9e tnsvrer approved by Lender. If subsianti0y ecuiy6en! mortgage insurance covers" is not evarlable, Son,Mrer shall pay to Lender each ri wre. a sum eq xd to one-twettt;i 0 the yearty nxxtgage Insurance premium being paid by Borrower %--en tlt* Insurance coverage lapsed or ceased to be in e"!ect. Lenora wi l accept. use awl retain these payments as a loss re cat -s w- btu of mortgage lnwrratce. Loss reserve payments may no longer be required, at the optkan of Lender_ it mortgage Insix-ance cove,--em t1n ttte smovnt and for the period that Lender rues) provided by sr. insures approrved by Lender again becomes available are: M obtained Borrower shall pay the premiums required to maintain mortgage %nsurmnce It effect. or to provide a loss reserve. until L-e rt~quirement for mortgage insurance rands in accordance YvIth any wntien %gree ment be.%reen Borrower and Lender or applicable law. 9. Inspection. Lender or its aWt may make reasonable entries %xm and inspections of the Property. Leander shall give Borrower rotice at the lime of or prior to im inspection specifying masunable cause for the inspection. 11D. Condemnat;on. The proceeds of any award cr cta!m :or damages, direct or consequential. in connection pith any condem. e:ion or other taW ng of any part of the Property. or for conveyance In Err of condemn Um. are hereby assigned and shah be paid to Lender. In the event of a total taking of the Iremmy, the proceeds s.'is>t be applied to the stars secured by this Security itnslruntrn'. whether or not then &a. with pry excess pe3d to Borrower. In the event of a partial taldng of the Property In which the fair rrark.et value of the Prapety irnmedSait#y before the tnkhsg Is equal to or greater than tte amount of the suns secured by this f:ecurtry Instrument lrrm* fiateaY beftfe the taking, unless Borrower and Lender otherv:ise agree in wrIt-1,g, the sums secured by this Sawrity Instrument shat be reducee by the amount of the procoedzz muttipMd by the Wowing fraction: (a) tte total amount o: the sums secured Inmed.atey before the taking, dtv!ded by (b) the Ink rna•kvt value at the Property irvnadretely b;&oree tht taking. Any bslence sing be paid to Brrower. in the event of a Meal Wing of the Propety in which the %?r mark~,t value of :he Property imn',ed<ately before the taldng Is less than the amount of the sums seecurcd r'rviedately before the takng, unless Borrower and Lender otherwise ewe Im writing or uNess applicabie law otherw hot provides, the proceeds shat be applied to the sums secured by this Security ktstru m.ent whether or not the arum we then due. It th3 Property Is abandoned by Ek rower. or 11. after notion by Lender to Borrower that the co tdernruw offam to make an award c settle a dsin for damages. Borrower balls to respond to Lender within 90 e±aa}s after the dfate the notice Is given. Lender is authctized to cotect and apply, the proceeds, at its option, ether to restoration or repair of the Property or to the sums sm-ured by this Security Instrument, whether or not then due. Unless Lender arnd Borrower otherwise agree in writing, any appleatlort of proceeds to principal she$ rot extend or postpone the due dale of the monthly payments refered to in paragraphs f and 2 or emerge the amount of such payments. 11, 13orro-wor Not Released; Forbearance By Lender Not a Waiver. Budexnslon of the time fir paynternt or mudiTicaZion of amortization of. the suns sm red by this Security knstrmwK graMad by Lender to any successor In interest of Borrower st,an not operate to reierse the UntAlry of the original Borrower or Bortttivar's successors in Interest Lenc>- shat not be req u'rt,d to commence pmceetiiings aga:enst any successor in inte'zest or rstuse to extend tfrtra for payment or otherwise molly amortization of the sums secured by this Semnity lnsdummt by reason of any demand made by lire original Borrower or Borro-wer's cur cessvs in interest Any forbearance by Lender in rxerdsing any right or rernedy shah' not be a waiver of or prelude If e exerc°ae of any right or remedy. 12. successors and Assign-? Bound; .la:nt and Several Liability; C"Igners. The covenants and agivements of tWs St-%irity Inshiment shat bind and benelff the successors and assigns of Laufer acrd Bo.:rnwer. sub{ed to the ?tovisions of paragraph '17, barrower's covenarata and agreenertts -hall n• yoint and several. Arty Borrower who co-sims this L'ecuunty Instrument br t does not execute the Note_ (a) it co-signing tits Security Instrument only to mortgage. grant and convey that Borrow,yr's interest in the PropFxy under the termc of this Seemly Instrument (b) Is not pesrmv*v obligated to pay the surnz 'ecured by this Se=nty Instrument: and (c) agrees tt+et Lender and any other Bcxrewer may agree to extend. moony. forbw or rrrake any acconw&datlons with regard to the tenrns of this Security inshument: or the Note wiGtiout that Bcxrow,ees casnsen"n. 13. Lc en ChArge3s. tf the loan semred by this Security Eststrurse•rt is subject to a low wftich sets mwdnwi loan changes. r• nd that le-w is finally interpreted so that the Interest or other loan emerges c llede d or to be cokketed in corenection . with the Iwo exceed the permitted trrfts, then: (a) any such soar. charge shag be reduced by the amount necessary to reduce the charge to the pemntted Haut and (b) any sums already collected from Borrower which exceeded pe"Tritted im4s wit be efunded to Borrower. Lender rssa•/ choose to make this refund by reducing the pry owed under the Nate or by m9rng a. Erect pay-tat to Borrower. if a refund reduces principm. the redaction will be tnie-ed as a paw urapayment wthosr-t any prepayment Oarge under the Note. 14. Notices. Any notice to Borrower provided for in this Security instrument shall L•e giver by deliivairta it rx by maiartg it by '5 st class mail unless applicable taw requires use of another method. The notice shall be directed to the P+.opeiry Address or any other -address Bon-owes designates by notice to Leander. Any notice to Lender shall be given try last class tnea to Le sder's address stated herein cr anv other address Lender desb9natts by rrofte to Son rower. Arty no** pravlded fur in this Sec &,y lnstrumectt shall be deemed to have been given to Bontcwer or Lender when given as provided in this pangmph. 15. Governing Law, Severabitity. This Security ittstrarrnernt shat be governed by federal law and the lava of the jar'rdi:tim in which :zne property is located in the event that amir wnvisk~ or clause of this. Seeurtty lrtttrurrnentt x the Note conflicts with, appinc isle law. sur-h earthen shalt not at[ed other provisions of this Security lr•stmffAnt or t e Note which can be given e:fe with-M 'ht- coat5i ng prcvision_ To this end the provisions of this Security k>VsumtW and the: Note we derma to be sevemble. 16. Gorrower's Copy. Borrower shy be grve-n one conformed copy of the Note and of this Setsa#ty' Irstrturnernt. o r_