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88- 102984 If Lender required monpge insurance as a condilion of making Ihe 10l!-n secured by Ihis Securily InslfVlnent, Borrower shall pay,lhe premiums required 10 mainlain the insurance in effecl unlil such lime as Ihe requiremenl for the insu~t1cetermiilates in accordance wilh Borrower's and Lender's wrillen agreement or applicable law, 8. n~Oe, Lender or its agenl may make reasonable enlries upon and inspr.clions of the Propeny. Lender shall givc B<1rtow~noliceat the lime of or prior 10 an inspection specifying reasonable cause for Ihe ;,nspeclion. 9. CODde....don. The proceeds of any award or claim for damages, direcl or consequenlial, in conneclion wilh any condemnation or olher taking of any pan of Ihe Propeny. or for conveyance in lieu of condemnalion, arc hereby assigned and shall be paid 10 Lender. In the event of a lotal taking of the Propeny, the proceeds shall be applied 10 Ihe sums secured by this Securily Instrument, whelher or not Ihen due. with any excess paid 10 Borrower. In Ihe eVeI!1 of a panial taking of the Property, unless Borrower and Lender olherwise agree in writing. Ihe sums secured by Ihis Security Inslrumenl shall be reduced by the amounl of Ihe proceeds multiplied by Ihe following fraclion: (a) Ihe tOlal amount of the sums ~ured immediately before the taking. diVided by (b) the fair markel value of Ihe Propeny immedialely before the laking, Any balance shall be paid 10 Borrollt'er, If Ihe Propeny is lbandoned by Borrower, or if, afler nolice by Lende~ 10 Borrower thallhe condemnor offers 10 make an award or settle a claim for damages. Borrower fails to respond 10 Lender wilhin 30 days after Ihe date Il:e nOlice is given, Lender is authorized 10 collecl and apply Ihe proceeds. al ils eplion. eilher 10 restoration or repair of Ihe Propeny or 10 the sums secured by Ihis Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in wriling. any applicalion of proceeds to principal shall not extend or postpone Ihe due dale of Ihe monlhly payments referred 10 in plll'llJraphs I and 2 or change Ihe 'lmOUnl of such payments. 10. Borrower Not Releued; Forbearance By Lender Not I Waiver. EXlension of Ihe lime for paymenl or modificalion of amonization of Ihe sums secured by Ihis Security In~trument granted by Lender 10 any successor in interesl of Borrower shall nOI operate to release Ihe liabilily of Ihe original Borrower or Borrower's sut:.:esson; in interest. Lender shall nOI be required 10 commence proceedings againsl any successor in interesl or refuse to extend time for paymenl or otherwise modify amonizalion of the sums secured by this Security I nslrumenl by reason of any demand made by the original Borrower or Borrower's successors in interesl. Any forbearance by Lender in exercising any righl or remedy shall nOI be I waiver of or preclude Ihe exercise of any righl or remedy. II. SlI:~ uti Aaips Boud; Joiat uti Snera1 Liability; Co-sipcrs. The covenants and agreements of this Securily Instnlmenlshall bind and benefillhe successon; and assigns of Lender and Borrower, subjecl to Ihe provisions of paragraph 17. Borrower's COVetWlts and agreements shall bejoinl and several. Any Borrower who co-signs Ihis Securily Inslrument but does nol execute the Note: (a) is co-signing this Security Inslrumenl only to mongage, granl and convey that Borrower's inleresl in the Propeny under Ihe lenns oflhis Securily Inslrumenl; (b) is Dol personally obligaled 10 pay Ihe sums secured by Ihis Securily Inslrument; and (c) agrees Ihal Lender and any other Borrower may agree 10 eXlend. modify. forbear or make any accommodations with regard to Ihe terms oflhis Securily Instrument or the NOle wilhout thalllornrNer's conscnl. 11. Lou C'IuIrpa. If Ihe loan secured by Ihis Security Instrument is subjecl to a law which sets muimum loan charges, and thaI law is finally inlerpreled so lhal Ihe interest or olher loan charges collecled or 10 be collectoo in connection wilh Ihe loan exceed the permilled hmits. Ihen: (Il) any such loan charge shall be reduced by Ihe amount necessary 10 reduce the charge to the permilled limit; and (b) any sums already collecled 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 NOle or by making a direct payment to Borrower. Ifa refund reduces principal, Ihe reduction will be Irealed ai. a paniaI prepaymenl withoul any prepaymenl charge under the NOle. 13. Leaisladoa Afrectilli Leader'. Rlpu. If enaClmenl or expiralion of applicable laws has Ihe etrecl of rendering any provision of Ihe NOle or this Security Instrument unenforceable according to ils lerms. Lender. at ils oplion. may require immediale payment in full of all sums secured by Ihis Security Instrument and may Invoke any remedies pennined by paragraph 19. If Lender exert:ises this option. Lender shall take the steps specified in the second paragraph of paragraph 17. 14. Notices. Any nOlice 10 Borrower provided for in Ihis Security Inslrumenl shall be given by delivering it or by mailing il by first class mail unless applicable law reqUITeS use of another melhod. The notice shall be directed to the Property Address or any other address Borrower designales by nolice to Lender, Any notice to Lender shall be given by fin;t class mail 10 Lender's address stated herein or any other address Lender designalel by notice to Borrower, Any nOlice provided for il'lthis Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. Goyeraiq Law-; SeYerabillty. This Securily Inslrumenl shall be governed by federal law and the law of the jurisdiction in which Ihe Property is located, In the even I lhat any provision or clause of this Security Instrument or Ihe NOle confticts wilh applicable law, such conftict shall nol affect olher provisions of this Securily Instrument or the NOle which can be given etrecl without the confticltng provision, To this end the provisions of this Security Instrumenl and the NOle are declared to be severable. 16. Borrower'. Co,y. Borrower shall be given one conformed copy of the Nole and oflhis Security Instrumenl. 17. Truster of the Property or a Beneficial Inleresl in Borrower. If all or any pan of Ihe Propen)' or any inleresl in it is sold or lransferrcd (or if a beneficial interesl in Borrower is sold or transferred and Borrower is nO! I nalural person) without Lender's prior written consent, Lender may, at Its option, require immediate paymenl an full of all sums secured by this Securily Inslrumenl. Howl:ver. this option shall nol be exercised by Lender if exercise IS prohibued b)' federal la.. as of the dale of this Securily Inslrumenl. If Lender exer~:ises this option, Lender shall give Borrower notice of acceleration. The nOllce shall provide a penod of not less Ihan 30 days from the dale 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 Ihis period, Lender may Invok: ';'ii~ remedies permitted by Ibis Securily [nslrument wilhc.ut funher nOlice or demand on Borrower II. Borrower'. Rlpt to Remtate. [f Borrower meets certain conditions, Borrower shall have the nght to ha"" enforcement oflhis Securily Inslrumenl diseonlinued al any lime prior 10 Ihe earlier of: <al S days (or such olher period as applicable law may specify for reinstatement) before sale of Ihe Propeny pursuant 10 any power of sale contained in t},IS SecurilY In..rument; or (b) enlry of a }udgmenl enforcing Ihis Securily Instrument. Those condlllons are thlt Borrower (a) pays Lender all sums which Ihen would be due under Ihis Securily Inslrument and Ihe Note had no acceleration occurred; (b) cures any default of any olher CGvenants or agreemenls; (el pays !ill expenses Illcurred III enforcing thl~ Sel;unty In$lrumenl. includang, but nOI hmned to, reasonable Inorneys' fees; and Cd) takes such at:tlon as lender may reawnably require 10 usure Ihal the hen of thiS Secunly Inslrument. L.ender's nghts In Ihe Propeny nnd 8orro~'er's obhption 10 pay the ~ums ~ured b)' thIS Sccunty Instrument shall continue unchanlled Upon rem statement by Borrower, thn Secunly Instrumenl Ind Ihe obhgallons secured hereby shall remain fully effective as If no acceleration had o<:curred However. thiS ri.hllO reirnrate shall nor apply IIIlhe case of acceleration under parallraphs 1 J or 17