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\ 88-103325 " If,kqd~r r~\Ii{c:4,.mortPie insurance as a condition of making the loan secured by this Security Instrument, ~~~ersban:pay tbe:pmniums ;rcquired to maintain the insurance in eft'ect until such time as the requirement for the illsu~ terminatci inii:cOnlancei with Borrower's and Lender's written agreement or applicable law. e . ~i'" ~~' .l.endef'or its agent may make reasonable entries upon and inspections of the Property. Lender shatI'pveUOrrower notlceat11ie'time of or prior to an inspection specifying reasonable cause for the inspection. 9. CoadeDuuldon. The proceeds of any award or claim for damages. direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation. are hereby assigned and shall be {':lid to Lender. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by tbis Security Instrument, whether or not then due, with any excess paid to Borrower. In the event of a partia1 taking of the Property. unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument sb3Il be reduced by the amount of the proceeds multiplied by the following fraction: (8) the total amount of the sums secured irr..mcdialely before the takinJ, divided by (b) the fair market value of the Property immediately before the takiQg. 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 oII'ers to make an award OJ' settle 8 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 restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal sba1l not extend or postpone the due date or the monthly payments referred to in paragraphs I and 2 or change the amount of such payments. 10. Bamnter Not g,1 rill: ForbearllDCe By Lender Not a Walyer. Extension of the time for payment or modifieation of amortization of the sums secured by this Security Instrument granted by Lender 10 any SUCCCSIOI' in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in inteftIL Lender sba1l not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwile modify amortization of the sums secured by this Security Instrument by reason of any demand made by the oripDal Borrower or Borrower'lluCCCIIOn in interest. Any forbearance by Lender in exercising any right or remedy sba1l not be a waiver of or preclude the exen:ile of any right or remedy. U. SaeeeR" ad AIIIpI Boad; JoIIIt ad SeftraI UabI1Itr. CcMtpen. The covenants and apumcnts of this Security Instrument sba1l bind and benefit the Iwxeuon and assigns of Lender and Borrower. subject to the provisioas of parqraph 17. Borrower's covenants and qreements shall bejoint and several. Any Borrower who c:o-signs this Security Instrument but does not execute the Note: (a) is co-sianing this Security Instrument only to mongqe, pant and convey that Borrower'1 interest in the Property under the tenns of this Security Instrument; (b) is not personally oblipted to pay tbe sums secured by this So:urity Instrument; and (c) agrees that Lender and any other Borrower may qree to atatd. 1IICIdiIY. fortlear or make any accommodations with reprd to the tenns of this Security Instrument or the NQ[C without tbat Borrowcr'I CCIIIICDt. 12. .... CIIarIa If the loan secured by this So:urity Instrument is subject to a law which sets muimum loan charps, and tbat law it llnalIy interpreted 10 that the inlClat or other loan cIwps collected or to be coIJeculd in COIIn<<'ion with the loan a.c:ced the permitted Iimita, then: (a) any such loan charJe shan be reduced by the amount neceIUJ}' 10 reduce the charF 10 the permitted limit; and (b) any sums already colJected from Borrower wbicb caceeded permitted limits will be refunded to Borrower. Lender may cboole to make this refund by reducin& the principal owed under the NQ[C or by makin& a direct payment to Borrower. If a refund redUCCI principal, the redw:tioD will be treated as a partial prepayment without any prepayment cIwJe under the Note. U. 1.......... AtrectIq u.der'I RJPta. If cnactmeDt or expiration 01 applicable laws has the elf'cct 01 renderinl any provision of the Note or this Security Instrument unenforceable accordilltl to its terms, Lender. at its opIioa. may require immediate payment in full c:I aU awns secured by this Security Instrument and may invoke any ~ permitted by parqraph 19. If Lender exercises this option. Lender shall take the steps specified in the second parqraph 01 parqraph J7. 14. NadaL Any notice to Borrower provided for in this Security Instrument shall be gi\ICII by ddiveriD& it or by mailin. it by 8nt class mail unless applicable law requires use of another method. The notice shall be dira:ted to .he Property Address or any other address Borrower desiJnates by notice to Lender. Any notice 10 Lender shall be p- by lint cIaI& mail 10 Lender's addreu stated berein or any otber Iddrc:ss Lender designates by notice to Bonvwer. ADY ftOCicc provided for in thil Security Instrument shall be deemed to have been given to Borrower or Lender wherl gi\ICII as pIO\Iided in this parqraph. 11. GcmnbtI Law; SnerabJIity. This Security Instrument shan be governed by federalllw and .he law of the jurildiction in whicb the Property is located. In the event that any provision or c1IUse of this Security Instrument or .he Note conJIicts with applicable law, such conflict shall not alI'ect otber provilions of this Security Insuument or the Note which can be p\ICII efl'ect without the confticting provision. To this end the provisions ofthi!l Security Instrument and the Note are dcc1arcd to be severable, 16. ... .6~'" Cap,. Borrower lhall be given one conformed copy of the Note and of this Security Instrument. 17. T.--fer of die Proprty or a Beeefit:Ialllllterelt la Borrower. If all or any pan of the Property or any interest in it it sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not. natural penon) without Lender's prior written CODsent, Lender may, ill its option, require immediate payment in full or all sums secured by this Security Instrument. However. this option shall not be elLercised by Lender if elLercise is prohibited by federal law . of the date of this Security Instrument. If Lender aerc:iIeI this option. Lender shall give Borrower notice of acceleration, The notice shall provide a period cI not leis than 30 days from the date the notice is delivered or mailed within which Borrower must pay all ~ums secured by this So:urity lI..rument. If Borrower fails to pay these sums prior to the upiration of this period, Lender mlY invoke any remedies permitted by tbit Security Instrument without funher notice or demand on Borrower, tL ......... ..... to Rel8Itale. If Borrower meetl certain conditions, Borrower shall hive lhe rilhl to have enforcement of'this Security Instrument dilCORtinuedat any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Propeny pURuant to any power of sale contained in th" Security Instrument; or (b) entry of a judgment enfan:ing this Security Instrument. Those conditions are that Borrower; ea) pay. Lender allluml which then would be due under this Security Instrument and the Note had no acceleration oc:curred; (b) cures any default of any other covenants or qreements; (c) pays III elLpeRlCIo mcurrcclm cnforcinllthls Security Instrument. including, but nOI limited 10, reasonable attorneys' fees; and Cd) takes such action as lender may reasonably require to allure that the lien of this Security Instrument, lender', "lhlS in the Proret1y and Borrower's obliption to pay the sum. secured by thiS Security Instrument shall continue unchanled Upon rein"alemenl b)' Borrower, this Security Instrument and the obllptions secured hereby shall remlm fully elfectl\'e as ifno acceleration had occurred. However. this right to reinstate shall not apply in the cue of Iccelerlllon under parll8raph~ 13 or 17