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88- 102195 If Lender required mortgage insurance as a condition of making the loan secured by this I>ecurity Instrument, Borrower shall pay the premiums required to malntain the insurance in effect until such time as the requirement for the insurance terminates in accordance with Borrower's and lender's written agreement or applicable law. 8. In5peCtlon. lemler or ils 'agenl may make,reasonable entries upon and inspections of the Property. lender shall give Borrower notice al the time of or prior to an Inspection specifying reasonable cause' for the inspection. 9. CoiltlemnatJon, The proceeds of any award or claim for damages. direct or consequential, in connection with any condmlnallonor other taking of any part of the Property. or for conveyance in lieu of condemnation, are hereby assigned and shall be paid 10 lender. , In the event of a lotal taking of the Property. the proceeds shall be applied 10 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 Insti-ument shall be reduced by the amount of the proceeds mulllplied by the following fraction: (a) the total amounl of the sums, secured immediately before the taking. diVided by (b) the fair markel value of the Properly immedialely before the taking. Any balance shall be paid to Borrower. ' If the Property is abandoned by norrower. or if, aRer notice by lender 10 Borrower that the condemnor offers to make an award or setlle a claim for damages, norrower fails to respond to lender within 30 days after the date the notice is given, lender is authorized to collecl and apply IIle proceeds. at ils option, either to restoration or repair of the Property or to the sums secured by this Security Instrument. wheOler or not then due. Unless Lender and Borrower otherwise agree in writing. any application of proceeds 10 principal shall nol extend or postpone the due date of the monthly payments referred to In paragraphs I and 2 or change the amounl of such payments. 10. Borrower Not Released; Jo'orbtarance By I..ender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by Oils Security Instrument granted by lender to any successor In inleresl of Borrower shall not operate to release the liability of' the original Borrower or Borrower's successors in interesL lender shall not be required to commence proceedings againsl any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Securily Instrument by reason of any demand made by the original Borrower or Borrower's successors in InteresL 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. II. Successors and Assigns Bound; Joint and Several l..iabilitYi Co-slKflers. The covenanls and agreements of this Security Instrument shall bind and benefil the successors and assigns of L,ender and Borrower. subject to the provisions of paragraph 17, Borrower's covenanls and agreemenls shall be joinl and several. Any Borrower who co-signs thil Security Instrument but doCll not execute the Note: (a) is eo-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 obligated to pay IIle sums secured b)' this Security Instrument; and (c) agrees that lender and any oilier Borrower may agree 10 extend, modify, forbear or make any accommodations with regard 10 the terms of !his Security Instrument or the Note without that Borrower's consent. 12. Loan Charges. If the loan secured by this Security Instrumenl is subject to a law which sels maximum loan charges. and that law is finally Interpreted so that the interest Dr other loan charges collected or to be collected In connection with the loan exceed the permitted 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 pcrmitted limits will be refunded 10 Borrower. !.ender may choose 10 make this refund by reducing the principal owed undcr the Note or by making a direct payment to Borrower. If a ref'und reduces principal. the reduction will be treatl!d as a partial prepayment without any prepaymenl charge under the Nole, 13. legislation Affecting I..ender's RIRhts. If enaclment or expiration of applicable laws has the effect of rendering any provision of the Note or this Security Instrument unenforceable according to ils terms. lender. at its option, may require immediale payment In full of all sums secured by this Security Instrumenl and may invoke any remedies permitted by paragraph 19. If Lender exercises this option. l.ender shall take the steps specified In the second paragraph of paragraph 17, 14. Notices. Any notice 10 Uorrower provided for in this Security Instrument shall be given by delivering it or by mailing it by firsl class mail unless applicable law requires use of another method. The notice shall be direcled to the Property Address or any other address Borrower designates by notice to !.ender. Any notice to !.ender shall be given by first class mail to lender's address staled herein or any olher address lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or lender when given as provided in this paragraph, 15, GovernlnR Law; Severability. 111is Securily Instrument shall be governed by federal law and the law of the jurisdiction in which the Properly Is lecaled. In the event thill any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflicl shall not affect other provisions of this Security Instrument or the Note which can be given effect withoul the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared 10 be severable, 16. Borrower's Copy. Borrower shall he given one conformed copy of the Note and of this Securily Instrument. 17. TrlUl!lfer of the Property or a Dcneficlallnterest In Borrower.' Ifali 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 not a natural person) withoul lender's prior wrilten consenl. lender may, at ils option, require immediate pa)'ment in f'ull of all sums secured by this Security Inslrument. However. this option shall not be exercised by lender if exercise is prohibited by federal law as of the date of this Securi,y Instrument. If !.ender exercisCll this option, lender shall give Borrower notice of acceleration. The notice shall provide II period of not less than 30 days from the date the notice is delivered or mailed within which Barrower must pay all sums secured by thi. Security InstrumenL If Borrower fails to pay these sums prior to the expiration of this period. !.ender may invoke any remedies permilted by this Security Instrument without further notice or demand on Ilorrower, 18, Borrower'. Right to Reinstate. 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 of: (a) S days (or such other period as applicable law may specify for relnstatemenl) before sale of the Property pursuant to any power "I' slllc contained In Olis Security Instrumen!; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (II) JIlI)'S Lender all sums which then would be due under this Security Instrument and the Nole had no accelcratlon occurred; (b) cures any default of any oO,er covenanll or agreements; (c) pays all expen.es Incurrcd in enrorcing Uli5 !;ccurity Inltrument, includins. but nntlimlted to. reasonable allorneYI' ree.; and (d) IlIke. such action as I.endcr may rClllnnllbly require 10 aSSllre that Ole lien of Olis Security In.trumen!, I.e"der's righL. in the Propcrly 011\01 Ilnrrower's nbllgntion 10 pay Ihe sums .ecured hy this Security ImtrulDenl shall continue unchanged, Upon rcinM/llcment hy Ilorrnwer. till. Security 1",lrumentllnd the obligation. secured herchy .hall remllio liJ/ly .,reclive a. If no lIcccler/ltion hll<l oc.~ltred, Ilowever. Ihi, righllO rdn'llIle shnll nOlllpply in the cll.e or "cceletllli"n undcr pllragrllph, 1.1 "r J 7,