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I L D1C'29.2.cn (11/!l7) , ,"'~)"~ f' f\. \.... ~ ,', (1 ' , l J. 88- 10.0587 II Lender required mortgage Inourance as a condition 01 making the loan secured by the Security Instrument, Borrower shall pay the pret11lums required to maintain the Insurance In effect until !ouch time as the requirement lor the Insurance terminates In accordance with Borrower's llndLender's written agreement or applicable law, 8. InspectIon. lender or Its agent may make reasonable entries upon and Inspections of the Properly. lender shall give Borrower notice at the time 01 or prior to an Inspection specllylng reasonable cause for the Inspection, 9. CondemnatIon. The proceeds 01 any award or claim lor damages, direct or consequential, In connection with any condemna. tion or other taking 01 any part 01 the Property. or lor conveyance In lieu 01 condemnation, are hereby assigned and shall be paid to lender. In the event of a total taking 01 the Property, the proceeds shall be applied to the sums secured by this Security Instrumellt, whether or not then due, w!th any excess paid to Borrower. In the e\fent 01 a partial taking 01 the Property, unless Borrower and Lender otherwise agree In writing, the sums secured by this Security Instrument shall be reduced by the amount 01 the proceeds multiplied by the lollowing fraction: (a) the total amount 01 sums secured Immediately before the taking, divided by (b) the lair market value 01 the Properly Immediately before the taking, Any balance shaH be paid to Borrower. If the Property Is abandoned by Borrower, or If, alter notice by Lender to Borrower that the condemnor offers to make an award or settle a claim lor damages, Borrower falls to respond to Lender within 30 days alter 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 then due, Unless Lender and Borrower otherwise agree In writing, any application 01 proceeds to principal shall not extend or postpone the due date of the monthly payments referred to In paragraph 1 and 2 or change the amount 01 such payments, 10. Borrower Not Released; Forebearance By Lender Not a Waiver. Extension 01 the time for payment or modifi. cation of amortization 01 the sums secured by this Security Instrument granted by lender to any successor In Interest of Borrower shall not operate to release the liability 01 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 lor payment or otherwise modify amortization 01 the sums secured by this Security Instrument by reason 01 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 01 or preclude the exercise of any right or remedy, 11. Successors and Assigns Bound; Joint and Several Uabillty; Co-signers. The covenants and agreements 01 this Security Instrument shan bind and benefit the successors and assigns of lender and Borrower, subj0l:.1 to the provisions 01 paragraph 17, Borrower's covenants and agreements shall be joint and several. Any Borrower who co.slgns this Security Instrument but does not execute the Note: (a) is co-slgnlng this Security Instrument only to mortgage, grant, and convey that Borrower's Interest In the Property under the tenns 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 terms of this Security Instrument or the Note without that Borrower's consent. 12. Loan Charge.. If the loan secured by ttils Security Instrument Is subject to a law which sets maxlmum loan charges, and that law is finally interpreted so that the Intf!fest or other loan charges collected or to be collected In connection with the loan exceed the permitted Nmlts, then; (a) any such loan charges shaN be reduced by the amount necessary to reduce the charge to the pennitted limit; and (b) any sums already collected from Borrower which exceeded permitted IImlts wil~ 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 Borrower, If a refund reduces principal, the reduction wIN be treated as a partial prepayment without any prepayment charge under the Note, 13. legislation AffectIng Lender's Rights. If enact"!el'lt or expiration 01 applicable law 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 ful of aN sums secured by this Security Instrument and may Invoke any remedies permitted by paragraph 19. If Lender exercises this option, Lender shaH take the steps specified In the second paragraph 01 paragraph 17. 1.. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class maM unless appHcable law requires use of anothel' method. The notice shaH be directed to the Property Address or any other address Borrowel' 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 be deemed to have been given to Borrowel' or lender when given as provided In this paragraph. 15. Governing LaW; Severability. This Security Instrument shall be governed by federal law and the law 01 the juriSdiction In which the Properly is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law. such conflict shaH not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions 01 this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shaH be given one co:tformed copy of the Note and of this Security Instrument. 17. Transfer of the Property or a Beneficial Interest In Borrower. II all or any part 01 the Property or any Interest in it Is sold or translerred (or If II beneficial Interest In Borrower Is sold or transferred and Borrower Is not a natural person) without Lender's prior written consent, Lender may, at Its option, require Immediate payment in fuN 01 all sums secured by this Security Instrument. However. this option shaN not be exercised by Lender If exercise Is prohibited by federal law as of the date 01 this Security Instrument. If lender exercises this option, Lender shaH give Borrower notice of acceleration, The notice shall prOVide a period of not less than 30 days from the date the notice Is deIlvel'ed or mailed within which the Borrower must pay all sums secured by this Security Instrument. If BoIrower faMs to pay these sums prior to the expiration of this period, Lender may Invoke any remedies pennitted by this Security Instru. ment without furthel' notice or demand on Borrowel'. 18. Borrower'. RIght to Relnatate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier 01: (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender aU sums which then would be due under this Securtty Instrument and the Note had no acceleration occurred; (b) cures any default of any other covenant or agreements; (c) pays .. expenses Incurred in enforcing this Security Instrument, Including, but not limited to. reasonable attorneys' fees; and (d) takes such action as lender may reasonably require to assure that the lien of this Security Instrument, lender's rights In the Property and Borrow8!"s obllg. atlon to pay sums secured by this Security Instrument shaH continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obIlgatlons secured hereby shaM remain fully effective as If no acceleration had occurred, Howe..er, this right to reinstate shall not apply in the case of acceleration under paragraph 13 or 17, r- 197807 Poge J Qr 4 C /';' I~\ (' . , t:.- ""