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I 88- 102056 If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower;~h~n~ay.:tlifpremiunis required to maintain thc insurance in effect until such time as thc requircment for thc insurance terinitlat~.D iCcordance with Borrower's and Lender's written agreement or applicable law. . . 8. 'JtllIllfttlidU ~,Under or its agent may make rea5(jnable entries upon and inspections of the Property. Lender shall give BOrrowern-otlee ai the time of or prior to an inspection specifying reasonable cause for the inspection. 9. COftdemnation. 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 oh 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 takinl. 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 settle a claim for damages, Borrower fails to respond to 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 ot the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. 10. Bonower' Not Releaed; Forbearance By Lender Not. Waiver. 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 requir~ to 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 nollM: a waiver of or preclude the exercise of any right or remedy. 11. s.a.on'" Aaips BoIIIld; Joint ad SenrallJability; eo.siperi. The covenants and agreements of this Security Instrument shall bind and 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 seO'erat Any BorroV:ler who co-signs this Security Instrument but d~ not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Bo~er's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secu.red 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 tenns of this Security Instrument or the Note without tiul.t Borrower's consent. 11. Lou a.r... If the loan secured by this Security Instrument is subject to a law which sets maximum loan charses. and that law is finally interpreted 10 that the interest or other loan charges collected or to be collected in connection wilh the loan exceed the pennitted limits, then: (a> any such loan charge shall be reduced by the amount neceswy to.reduce the cbarle to tbe 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 Borrower, If a refund reduces principal. the reduction Will be treated as a partial prepaYment without any prepayment charge under the Not~. 13. 1~.AffectitII Letlder'i Hlpb. 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 tenns. 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 panaraph 19. If Lender exerdses this option. Lender shall take the steps specified in the second paragraph of puqraph 17.. . 14. NodceI. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by niailinl it by fint clus mail unless applicable law require!! 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 fint c'ass mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any nOlice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in thiS parqraph. . . 15. ~ LaW; Se.....wtity. This Security Instrument shall be governed by f,.derallaw 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 conflicts with applic:able law, such C:Ol'lftict shall not dect other provisions of this Security Instrument or the Note which can be given eft'ect without the c:onftictin. provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Bor.n.'.eo". Borrower shall be given one confonned copy of the Note llnd of this Security Instrorr.::nt. . I7.T........ of tIte Pro,erty or . Bnefkr.I laterat in Borrower. If all or any part of the Property or any . interest in it is sold or lranlf'ermI (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural penon) without Lender.s prior written consent, Lender may. at its option, require immediate payment in full of all sums secured by this Security Inltrument. However. this option shall not be exercised by Lender if exercise is prohibited by fedenllawuof'tbedateofthis Security Inltrument. IfLcDdc:FcJ:crciIa lhis option. Lender shall give Borrower notice of acceleration. The notice shall provide a period ofnot less tban30da)'l from the date lhe notice is delivered or mailed within which Borrower must pay alhums secured by thiS Security IJiStrument. If Borrower fails to pey these sums prior to the expiration of this period, Lender may invoke any ranediapennitledby this Security Instrument without further notice or demand on Borrower. .........l'W.......to Rem.tat.. If BoiTower meets certain conditions, Borrower shall have the right to have enfCMi~t of this Security Instrument dillCOfltinued at any time prior to the earlier of: (a> 5 days (or such other period as applicable law may specify for reinstatancnt) beforc sale of the Property pursuant to any power of sale contained in this Security InStrument; or (b) cntryof a judament enforcinl this Security Instrument. Those conditions are that Borrower: .(a) ..,.. Lender:all IUml which then would be due under this Security Instrument and the Note had no acceleration oc:ewTedj(b)cures anydelault of any other covenants or ..rcementsj (c) pays all expenses incurred in enforcins this Security lnstr1Urient, includin.. but not limited to, reasonable ...omeys' fees; and (d) takes such action as Lender may reaIOftIbIyrequire to usure that the lien of this Security Instrument, Lender.s rilhts in the Property and Borrower's . ~'ionoto ..ythe sums :secured by this Security IQstrument shall continue unchanled. Upon reinstatement by ~er.thb, Security Instrument and the obliptions secured hereby shall remain fully effective as if no acceleration had occurred. However, this riaht to reinstate shall not apply in the case of.cederation under paragraphs 13 or 17. , )