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88- 102617 If Lender required mortgage insurance as a condition of making the loan secured by this Security instrument. Borrower shall.pay, the premiums.reqllired, to, maintain the insurance in effect unlil such time as the requirement for the insurance terminates in accordance willrBofl'ower's and Lender's wrillen agreement or applicable law, 8. In.pecfi9n. .~der orils.g'lI! may make reasonable entries upon and inspections of the Properly. Lender shall give Borroweinotice ,at llietiinecf ot prior to an inspection specifying reasonable cause for the inspection. 9. Condemnation. nie proceeds 'of any award or claim for damages, direct or consequential. in connection with any condemnation or other laking 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 of a totaIlaking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument. whether or notlhen due, with any ellcess paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender olherwise agree in writing. the sums secured by this Securily Instrument shaIl be reduced by the amount of the proceeds multiplied by the following fraction: (a) the lotal amount of the sums secured immediately before Ihe taking, divided by (b) Ihe fair market value of the Property immediately before Ihe taking. Any balance shall be paid to Borrower. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower lhatthe condemnor offers to make an award or sellle a claim for damages, Borrower fails to respond to Lender within 30 days after the dale the notice is given, Lender is authorized to collect and apply Ihe proceeds, at its option, either 10 restoration or repair of the Property or to the sums secured by this Security Inslrument, 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 monlhly payments referred to in paragraphs I and 2 or change the amounl of such payments. 10. Borrower Not Releued; Forbearance By Lender Not a Waiver, ElItension of the time for payment or modification of amortization of the sums secured by this Security Instrumenl granted by Lender to any successor in interest of Borrower ~BlI not operate to release the liability of the original Borrower or Borrower's successors in inlerest. Lender shall not be required to commence proceedings against any successor in interest or refuse to elltend time for paymem or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by Ihe original Borrower or Borrower's successors in interest. Any forbearance by Lender in ellercising any right or remedy shaIl not be a waiver of or preclude the ellercise ohny right or remedy. 11. SllCCCIIOn and Aulptl 3otmd; Joint and SeyeraI Liability; Co.sillllers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to Ihe provisions of paragraph 17. Borrower's covenants and agreements shall be joint and se~'eral. Any Borrower who co-signs this Security Instrument but does not Cllecute the Note: (a) is co-signing this Security Instrument only to mortgage, granl 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 elltend, modify, forbear or make any accommodalions with regard to the tenns of this SecurilY Inslrument or the Note without thai Borrower's consenl. 12. Lou a..raes. If the loan secured by this Security Instrument is subject to a law which sets mallimum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan ellceed the pennilled limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the pennilled limit; and (b) any sums already collected from Borrower which ellceeded pennilled 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 Note. 13. LqiJlation Mrectinl Lender's Riptl. 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 permilled by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of parasraph 17. 14. Notices. Any notice to Borrower provided for in Ihis Security Instrument shall be given by deliverins it or by mailins it by first class mail unless applicable law requires use of anolher 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 first class 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 to have been given 10 Borrower or Lender when given as provided in this paragraph. 15, Gonmlq Law; Seyerabllity. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or dause of this Security Inslrument or the Note conflicts with applicable law, such conftict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower'. Copy, Borrower shall be given one confonned copy of the Note and of this Security Instrument. 17. T......fer of the Property or a Beneficial Interest in Borrower. tf all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower i~ sold or transferred and Bo:Tower is not a natural person) without Lender's prior written consent, Lender may. at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federalIaw 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 the 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 the expiration of this period, Lender may invoke any remedies pennitted by this Security Instrument without further notice or demand on Borrower. II. Borrower'. Ript 10 Reinstate. If Borrower meets certain conditions, Borrower shall have the right 10 have enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) S days (or such other period as IIpplicable 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 enrorcinl this Security Instrument. Those conditions are that Borrower: ea) ..ys Lender all sums which Ihen would boo due under this Security Instrument and the Note had no acceleration occurred; (b) cures any default of any other covenants or agreements; ec) pays all expenses incurred in enforcing thIS Security Instrument, includmg, but not limited to, reasonable attorneys' fees; and td) takes such action as Lender may reuonably require to assure that the lien of this Security Instrument, Lender's nghts in the Property and Borrower's obIipttOD to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Securit) InOlrument and the obligations secured hereby shall remain fully eJl'ectlve as if no acceleratIOn had occurrM. However, thIS nght 10 reinstate shall nOI apply In .he case of acceleration under paragraphs 13 or 17