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08 102289 lID - If Lender required mortgage insurance as a condition of making Ihe loan secured by Ihis Security Instrument, Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement for Ihe insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. 8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice a the wne~( lJ! prior to aow . tion specifying reaso~able cause for the i.ns~tion. . . 9. Condemnation. he'WIi~~I1f,lUl)OolW~>or 181m for damages, dIrect or consequenual, In connection with any condemnation or other . e roperty, or for convp.yance in lieu of condemnation, are hereby assigned and shall be paid 10 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 Ihe 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 settle a claim for damages, Borrower fails 10 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 notlhen due. Unless Lender and Borrower otherwise agree in writing, any applicalion of proceeds 10 principal shall not extend or postpone the due date of the monthly paymenls referred to in paragraphs I and 2 or change the amount of such payments. to. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender 10 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 againsl any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Securily I nstrument 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. 11. Successors lUId Assigns Bound; Joint lUId Several Llllblllty; Co-signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower. subject to the p.-ovisions of paragraph 17. Borrower's covenants and agreements shall bejoinl 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 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 the lerms of this Security Instrument or the Note withoul that Borrower's consent. 12. LolUl Cherges. If the loan secured by this Security Instrument is subjecl 10 a law which sets maximum loan charges, and that law is finally interpreted so that the interesl or 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 pennitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose 10 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 reduclion will be treated as a partial prepayment without any prepayment charge under the Note. 13. Legislation Affecting Lender's RiRhts. If enactment or expiration of applicable laws has Ihe effect of rendering any provision of the Note or this Security Instrument unenforceable according to its lerms, Lender. at its option, may require immediate payment in full of all sums secured by this Securily Instrument and may invoke any remedies permitted by paragraph 19. If Lender exercises this option. Lender shall take the steps specified in the second paragraph of 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 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 10 Lender shall be given by first e1ass 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 10 have been given to Borrower 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 of the jurisdiction in which the Property is located. In the event thaI any proVISIon or clause of this Security Inslrument or the Note confticts with applicable law. such conDict shall not affect other proVisions of this Security Instrument or the Note which can be given effect withoul the con Dieting provision. To thIS end Ihe provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Securily Instrument. 17. Tnmsfer of tbe Property or a Beneficial Interest iil Borrower. If all or any part of the Property or any interest in it is sold or lransferred (or if a beneficial interest In Borrower IS sold or transferred and Borrower IS nol a natural person) without Lender's prior wrillen consent. Lender may. at lis opllon, reqUIre immediale payment In full of all sums secured by this Security Instrument. However. thIS opllon shall not be exercised by Lender If e^erClse IS prohibited by federal law as of the date of this Security InslTUment. If Lender exercises this option, Lender shall give Borrower notice of accelerallon. The nollce shall proVIde a period of not less than 30 days from the date the notice is delivered or maIled within which Borrower must pay all sums secur:rl by Ihis Security Instrument. If Borrower fails to pay these sums pnor 10 the expIration of this penod. Lender may invoke any remedies pennined by this Security Instrumenl without further notice or demand on Borrower, 11. Borrowe'l"'s Right to Reinstate. If Borrower meets c.crtam condItions, Borrower shall have rhe nght to have enforcement ofthis Security Instrument discontinued at any lime prior 10 the earher of (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 Secunty Instrumenl Those condlllons arc that Borrower: (a) pay. Lender all sums which then would be.due under thIS Securil~' Instrument and the Note had no aceeleral10n occurred; (0) cures any default of any other covenants or agreements; (c) pays all eopenses Incurred In enforCing thIS Secunly Instrumenl. ",eluding. but nothmlled 10. reasonable allorney" fees, and (dltakes such aellon as Lender may reasonably requIre to assure that the hen of thIS Secunly Instrumenl. Lender', nght, In the I'ropeny and Horrn,,'er's obhgallon 10 pay the sum!! \eC"ured h)' thiS Secunty Instrumt:n1 ..hall cnnllnuc unchangC'd llptm rctn!'llaleOlC'nt hy Borro~er. lhl' Sccuntllm,trument and Ihe obhgatlon~ ~ecurM hcrch~ ,hall remain full~ cfTr-ctl\C a\ Irno 8l.'Cckral1nn had nccurrC'd Hll'llo'C'\Cr. thu. nghtlo rem!lotat~ \haJl not apply m the C3"-(' or ao:clcratJrHl under paragraph.. 1"' or 17