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88- 10~364 If Lender required mortgage insurance as a condition of mcking the loan secured by this Security Instrument, Borroll\>~r shall pay the premiums required to maintain the in~urance in effecl until such time as the requirement for the illsurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. 8. IufedIOD. Lender or its agent may make reasonable entries upon and inspections of the Property, Lender shall give Borrower notice'afdie'timeof or prior to an inspection specifying reasonable cause for the inspection, 9. eo.de~08.;~:ptci!=efJlI.~,of any award or claim for damages, direct or consequential. in connection with any condemnation or other taking of any pan 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 Propert,. unless Borrower and Lender otherwise agree in writing, the Slims secured by this Security Instrument shall be reduccL ry the amount of the proceeds multiplied by the following fraction: <a) the total amount of the sums secured immediate'_ before the taking, divided by (b) the fair market value ofthe 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 thai 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 restoratioli or repair of the Property or to the suma 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 the amount of such payments. 10. Borrower Not Releued; ForbearaDce By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Securily 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 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 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, 11. SIICCeIIOn utd AaIi... BouJId; Joint lUld Several Uability; Co-signers. The covenants and agrCClllents of this Security Instrument shall bind and benefil the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17, Borrower's covenants and agreements snail be 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 thaI Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligaled to pay Ihe sums secured by this Security Instrument; and <c) agrees thaI Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrumenl or the Note without that Borrower's consent. 12. Lou CII8qea. If the loan secured by this Security Instrument is subject 10 a law which sets maximum loan charges. and that law is linaI1y interpreted so Ihat the interest or other loan charges collected or to be collected in connectioo with the loan exceed the permitted limits, then: <a) allY 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 pennitted limits will be refunded to Borrower, Lender may choose to ~ke this refund by reducing Ihe principal owed under the Note or by making a dirQ;t payment to Borrower. If a refund reduces principal. the reduction will be lreated as a partial prepayment without any prepayment charge under the Note. 13. J.ePIIadoll AtrectiD& Leader's Riahta. If enactmenl or expiration of applicable laws has the effect of renderinl any provision ofthe Nole or this Security Inslrumenl unenforceable according 10 its terms. Lender. al its option. may require immediate payment in full of all sums secured by this Secumy Instrument and may invoke any remedies permitted by j)8r&graph 19, If Lender exercises this option. Lender shall take Ihe steps specified in the second paragraph of paragraph 17, 14. r<lodcel. Any notice 10 Borrower provided for in this Securi,y Instrument shall be given by delivering it or by mailinS it by first class mail unless applicable law requires use of anolher method, The nolice shall be directed to the Property Address or any other address Borrower designales by notice to Lender, Any notice to Lender shall be given by first class mail to Lender's address staled herein or any olher address Lender designates by notice 10 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. GovemiJla Law; SeverabiUty. This Secunly Instrument shall be governed by federal law and the law of the jurisdiction in which the property is located, In the evenl thaI any provision or clause of this Security Instrumenl or the NOle confticlS with applicable law. such conftict shall not affecl other provisions of this Securily Instrument or Ihe Note which can be given eft"ect without the confticting proviSIon, To thiS end Ihe provisions of this Securily Instrument and the Note are dec1arcd to be severable, 16, Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. TnMIer of the Property or a Beneftciallnterest in Borrower, If all or any part of the Property or any inlerest in il is sold or transferred (or if a beneficlallnteresl in Borrower is wId or transferred and Borrower is nOI a nalural person) without Lender's prior written consent, Lender may, al its option. reqUIre immediate payment in full of all sums secured by ibis Security Instrumenl, However. Ihls 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 acceleration, The notice shall provide a period of not less than 30 days from the date Ihe notice IS delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to Ihe expiration of this period. Lender may invoke any remedies permitted by this Security Instrumenl withoul further notice or demand on Borrower, '1, Barrower's IUaltt to Rellllt8te. If Borrower meets certain conditions. Borrower shall have the right to have enforcemenl of this SecurilY Instrumenl discontinued at any time prior 10 the earlier of: (a) 5 days (or such other penod as applicable law may specify for reinstatement) before sale of the Property pun;uant to any power of sale con tamed m this Securily Instrument; or (h) entry of a judlmenl enforcing this Secunty Instrumen!. Those conditions are Ihal Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note had no acceleration occurred; (b) cures any defaull of any other covenants or agreements; (c) pays all e"penses mcurred 10 enforcing thiS Secunty Inslrument. mcludmg, but not Iimued to, reasonable atlomey' fees; and (d) takes such action liS Lender may reuonably require 10 assure thaI the hen of thiS Security Instrumenl, Lender's nghls m Ihe Property and Dorrower"s obhption 10 pay the sums secured by thIS Secunty Instrument shall conllnue unchanged Upon remslatement b) BofJl)wer. thiS Security Instrument and the obhpuons secured hereby shall remam fully elfectlve as Ir no acceleration had occurred, However. this n.ht to mnstate shall not apply m the lOa'll: or Beeelerall"n under paragraphs 1 J 111 17