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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 ~cnninates in accordance with Borrower's and Lender's written agreement or applicable Jaw. 8. Inspection. Lender 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 cause 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 Lender. 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 then due, with any excess paid to Borrower. In the event of a partial taking of the Property, unless Borrower 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 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 shall be paid to Borrower. If the Property is abandoned by Borrower. or if, after notice by Lender to Borrower that the condemnor offers to make an award or senle a claim for damages, Borrower fails to respond 10 Lender within 30 days after 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 of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs I and 2 or change Ihe amount of such payments. 10. Borrower Not Released; Forbearance By Lender Not a Wail'er. Extension of the time for payment or modifiCation of amortization of 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 10 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. n. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of this Security Instrument shall bind 2nd 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 docs not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey thai Borrower's interest in Ihe Property under the terms of this Security Instrument; (b) is nol personally obligated to pay the sums secured by this SecurilY 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 law is finally interpreted so that the interest or other loan charges collected or to be collected in cOllnection with the loan exceed the permllted 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 permilled limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed 'Jllder t he Note or by making a direct payment to Borrower. I f a refund reduces pnncipal. t he reduction will b~ treated as a par;ial 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 Instrumenl unenforceable according to Its lerms. Lender, at its option, may require immediate payment in full of all Sums secured by this Secumy Instrument and may invoke any remedies permitted by paragraph 19. I f 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 Inslrument 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 Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by firsl class mail 10 Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Security Instrump.nt shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. Governing Latt.; Severability. This Security Instrument shall he governed by federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or c1au!te of t his Security Instrument or the Note conflicts with applicable law, such conflict shall not affect olher prOVisions of I IllS Security Instrument or the Note which can be given effect without the conflicting provision. To this end the proVISIons of t his Security I nstrument and the NOH." are declared to be sl:verabJe. 16. Borrow'er's Copy. Borrower shall be given one conformed copy of the Note and of tlw, Security Inst rumen!. 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 l.old or transferred (or if a beneficial Interest in Borrower is sold or transferred and Borrower Il. not a natural person) without Lender'!. prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, 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 acceIeral iOIl. The 1101 ice shall provide a period of notlt"!;s than 30 days from the date the notice is delivered or mailed Within whIch Borrower must pay all sums secured by this Security Instrument. If Bcrrower fails 10 pay these sums prior to the expiratIon of t his period. l.ellder may IIlvoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 18. Borro*er's Right to Reinstate. If Borrower meets certain condniom. Borrower shall have the right 10 have enforcement of thi.. Seculity Instrument discontinued at any time prior to the earlier of (a) S da~'s (or such other period as applicable law may specify for reinstatemenl) before sale of the Property pursuant to any power of ..ale contalllcd in tillS Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Tho,>e conditions are Ihat BOrnw.'lT .(a) pays Lender all sums which then would be due under Ihis Security Instrument and the Note had no acceleration occurred; (b) cures any default of any other COVenants or agreemenls; (c) pays all eApense' Incurred 111 enforcing tillS Security Instrument, Including. but not Iimitet.lto, rC3sonable attorneys' fees; .lnd (d) lakes '>uch aCllOn as Lender may rcasonabl)' require 10 assure lhal the lien of this Security Instrument, Lender's nghts In Ihe Propt'r1y and Horrower'.. obligation to pay lhe sums secured by Ihis Security Instrument shall conllnu~ unchanged Upon n.'lI'slalcmcnl h) .Borrower. thilo ~CUfll)l In,>trumenl and the obligatioll'; secured hereby shall remam fully dfl"t,It\c: <1\ If no ;lccdelatlOll had oc.curred. However. thi... right to rcim,talc !iOhllll nol apply III the ca!iOC of acceleration under paragraph, 11 or 17 88- 101394 . ~'~ It