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I 88- 101656 If Lcnder requircd mortgagc insurance as a condition of making thc loan secured by Ihis Securily Instfllment, Borrower shall pay rhe premiums required to maintain the insurance in effect lIntil such time as the requirement for the insurance terminates in accordance with Borrower's and Lender's written agrecmcnt or applicable law, 8. Inspection, Lender or its agent may make reasonable cntries upon and inspcctions of the Property. Lender shall give Borrower notice at the I ime of or pnor to an inspection specifying reasonable cause for the inspeclion. 9. Condemnation, The proceeds of uny award or claim for damages. direct or consequential, in connection with any condemnation or other taking of allY part of the ProperlY, 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 SUIllS secured by Ihis Security Instrument, whether or not then due. with an}' cxcess 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 InSlflllllent shall be reduced by the amOUnl 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 Ihe laking. Any halance shall be paid to Borrower. If the Property is abandoned by Borrower, or if. after notice by Lender to Borrow~r Ihat Ihe condemnor otTers to make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days afler the date the notice is given, Lender is authorized 10 collect and apply the proceeds. at its option. either 10 rcstoration or repair of the ProperlY or to the sums secured by this Security Instrument, whcther or not then due. Unless Lender and Borrower otherwise agree in writing, any application of prol.'eed!. to pnncipal shall not extend or postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the all10unt of !'ouch payments. 10. Borrower Not Released; Forbearance By Lender Not a Waiver, Exlell!'oion or Ihe lime for paymenl or modification of amortization of the sums secured by this Security Instrument granted by Lemler to any successor in interest of Borrower shall not operate 10 release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any succes,>or III Inlerl'st or rcfuse 10 extend time for payment or otherwise modify amortization of the sums secured by this Security Instrumenl by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender III exefl'lsing any right or remedy shallnol be a waiver of or preclude the exercise of any right or remedy, 11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The l'Ovenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender ;md Borrower. subject to Ihe provisions of paragraph 17. Borrower's covenants and agreements shall Ix: joint and several. Any Borrower who co~signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage. grant and convey that Borrower's interest in the Property under the terms of this Security Instrument: (b) is not personally obligaled 10 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 the terms of this Security Instrument or the Note without that Borrower's consent. 12. Loan Charges. If the loan secured by this Security Inslrument is subject 10 a law which sels maximum loan charges, and that la..... is finally interpreted so that the interest or other loan charges collecled or to be collected in connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be rcduced by the amount nccessary to reduce the charge to Ihe permitted limit; and (b) any sums already collected from Horrower 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 10 Borrower, If a refund reduces principal. the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 13. I.eKislation Affecting Lender's Rights. If enactment or expiration of applicable laws has Ihe effccl of rendering any provision of the Note or this Security Instrument unenfor('eable according to its terms, Lender, at its oplion, may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies permitted b)' paragraph 19. If 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 Senlrity Inslrument shall be given by delivering it or by mailing il by first class mail unless applicable law requires use of another method_ The notice shall be directed to lhe Property Address or any other address Borrower designates by notice to Lender, Any notice to Lender shall he given hy first class mail to Lender's address stated herein or any other address Lender designatt.>s by noticc to Borrower. Any notice provided for in this Security Instrumenl shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. Governing Law; Se\'erability. This Security Instrument shall be governed by federal law and I he law of the jurisdiction in which the Property is located. In the event that an)' provision or clause of this Security Instrulllent or Ihe Note conflicts with applicable law. such conflict shall not affect other provisions of this Security Inslrumelll or the Note which can be given effect without the conflicting provision. To this end the proViS.IOII!. of I his Security I nstrlllllenl ami the Note are declared to be sever....ble. 16. Borrower's COP)'. Borrower shall be given one conformed copy of Ihe Note and of t his Security I nslrument. 17. Transfer of the Propert)' or a Beneficial Interest in Borrower. If ail or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is nol a nalural person) withoul Lender's prior written consent. Lender may, at its opllon, require ll11lllediale paymenl III full of ail SIIIIlS secured by this Security Instrument. However, this option shall not be e:>.erclscd by Lender If exercise I!. pmhibiteJ hy fedcrallaw as of the date of this Security Instrument. If Lender exercises this option. Lender shall give Borrower nOlice of acceleration. The notice shall pro\'ide a penotl of nolless than 30 days from the date the notice is deli\'ered or mailed within which Borrower must pay all sums secured by this St'Curitylnstrumcnt. If Borrower fails to pay these sums prior to the expiration of I his period, Lcnder may ilJ\oke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 18. Borrower's Right to Relnst..te. If Borrower meets certain conditions, Borrower shall hllve the nght to have enforcement of this Security Instrument diM:ontinucd at an)' time prior to the earlier of: (a) 5 days (or such olher period as applicable law may specify for rein!'>tatement) before sale of lhe ProperlY pursuanl to uny powcr of sale colllalllt'd ill tlm Security Inr,trument; or (b) cnlry of a judgment enforcing Ihis Security InslfullIenl Those nJllditioll" an~ thal BorroWl"r (a) pays Lender all sums which then would he due under thi,> Sct:urit). Ill,>lrulllcnt and the Nole had no ;1C\:deratloll occurred; (\1) cures any default of un)' other covenant<. or agre!'fllcnt\; (cl pay... all !'''I)<?n,>e... lIl,:ulTed In enforCIng 11m Security lJlr,lrultlt'nt, including, but not limited to, rl'u!>onab!e allorllcp.' fees; and <ulla\..l.... ...lJch ,\('llon ;b I.endt'l 111;1) rC3'>Onabl)' require 10 a!..,ure that the Iiell of till'" Secllflty In\trulllcnl. Lender',> rlghl'" III Ih\' I'ropen) and Ih,rrmH.I.... ohlipt 1011 to pa)' I he ;,um\ ...t.:ured by Ihis Sl'clJril y 111\1 rument shall ~.lIlllln IJl' Ill1\: han~cd l'p\l\I Il'l\1...t 011 t'll1enl ") UOHOWI;T, thb $e-(uril y In\trument anti I he llhhgallOlI\ .,<"Cured hereby \hall r("rn"1I1 11I1l~ dktll\l' a... If \Ill aCl'dnallPn had ''l',urrfii IIn~c\('f. tlm righl tl) rein<,lalc ...hall not ;'ppl} 1/1 Ihl' ras,' of ill'tTkr;IIHIIl 1lI11kl p.1l ;11'1 ;11'11' 1\ "I !' I .