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88- 103460 If Lendcr required mortgagc insurancc as a condition of making thc loan secured by this Security Instrumcnt, Borrower shall. pay thcpremiums required to maintain thc insurancc in cft'ect until such timc as thc requircmcnt for thc insurance tcrminates'in'lCcordance with Borrower's and Lender's written agreemcnl or applicable law. 1J.1~0Il, Lender or its ..gent may make reasonablc entries upon and inspections of thc Property. Lendcr shall give Borrower notice at the time of or prior 10 an inspection specifying reasonablc cause for thc inspection. 9. Condemnation. The proceeds of any award or claim for damages, direct or consequential. in conneclion with any condemnation or other taking of any part of the Property, or for conveyancc in lieu of condemnation. are hcreby assigned and shall be paid to Lender. In the event of a total taking of the Property, the proceeds shall be applied 10 thc sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. In the evcnt of a partial taking of thc Property, unless Borrower and Lendcr otherwise agree in writing, the sums secured by Ihis Security Instrumenl shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) thc tolal amount of thc sums secured immediately before the taking, divided by (b) the fair marlo:et value of thc Property immediately before the taking. Any balance shall be paid to Borrower. If thc Property is abandoned by Borrower, or if. aftcr nOlice b~ Lendcr to Borrower that the condemnor offers to make an award or settlc a claim for damages, Borrowcr fails 10 respond to Lendcr within 30 days after the date thc notice is given. Lender is authorized to collecl and apply Ihe procceds. al ils option. eilher 10 restoration or repair ofthe Property or to thc sums secured by this Security Instrument. whclher or nollhcn due. Unless Lendcr and Borrowcr otherwise agree in writing. any applicalion of proceeds to principal shall not extend or postpone the due datc of the monthly payments rcfcrred to in paragraphs I and 2 or change thc amount of such payments. 10. Borrower Not Releued; Forbearance By Lender Not II Waiver. Extcnsion of the time for payment or modification of amortization of thc sums secured by this Security Instrument granted by Lendcr to any successor in interest of Borrower shall not operatc to release thc liabilily of thc original Borrower or Borrower's successors in interest_ Lender shall nOI be required to commcnce proceedings against any successor in inlcrest or rcfuse to cxtend time for paymcnt or otherwise modify amortization of the sums secured by this Security Inslrument by reason of any demand madc by the original Borrower or Borrower's successors in interest. Any forbearancc by Lcnder in exercising any right or remedy shall not be a waiver of or preclude the exercise ofany right or remedy. II. SaceaIon uti A.al.... 8ouDd; Joint and Seven! Liability: Co-signen. ThC covenants and agreemcnls of this Security Instrument shall bind and benefit the successors and assigns of Lendcr and Borrowcr, subjecl to thc provisions of paragraph 17. Borrowcr's covenants and agreements shall be join! and several. Any Borrower who co-signs Ihis Security Instrument but does not execute the Nole: (a) is co-signing !his Security Inslrumenl only 10 mortgagc. gran I and convey Ihat Borrower's interest in the Property undcr thc terms of this Securily Instrumcnt; (b) is not personally obligaled 10 pay thc sums secured by this Security Instrument; and (c) agrees thaI Lendcr and any othcr Borrowcr may agree to extend. modify, forbear or make any accommodations with regard 10 the lerms of Ihis Securily Inslrumenl or the Nolc withoul Ihat Borrower's consent. u. LollI <.'barps, If thc loan secured by Ihis Security Instrument is subject 10 a law which sels maximum loan charges, and that law is finally interpreted so that the interest or olhcr loan charges collected or 10 be collected in connection with the loan exceed thc permiued limits. Ihen: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permiUed limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded 10 Borrowcr. Lender may choose to make thIS refund by reducing Ihe principal owed under the NOll: or by making a direcl payment 10 Borrower. If a rcfund reduccs principal. thc reduction will be treated as a partial prepayment without any prepaymcnl charge under the Notc. 13, Lqisladoa AtrectiDa Lender'. RJabtl, If cnactment or cxpiralion of applicable laws has the eft'ect of rendering any provision ofthc NOlc or Ihis Security Instrumenl unenforceable according 10 ils lerms. Lender, al ils option, may require immediate payrr.enl in full of all sums secured by this Securily Inslrument and may invoke any remedics permiued by paragraph 19. If Lender ellcrcises this oplion, Lender shall take the stcps specified in the second paragraph of paragraph 17. .4. Nodea. Any notice 10 Borrower provided for in this Securily Inslrumen! shall be givcn by delivcring it or by mailing it by first class mail unless applicablc law requires use of anothcr melhod. The nolicc shall be direcled to thc Property Address or any other addrcss Borrowcr dcsignates by nolice to Lender. Any nOlice to Lendcr shall be given by first class mail to Lender's address stated herein or any othcr addrcss lender designales by nolicc 10 Borrowcr. Any nOlice provided for in this Security Instrumenl shall be deemed to have been glvcn 10 Borrower or Lendcr when givcn as provided in this paragraph. 15. Go.emina Law; Sennblllty, This Securily Inslrumenl shall be governed by fedcrallaw and thc law ofthc jurisdiction in which thc Property is localed. In the cvcnt Ihal any provision or c1ausc of this Securily Inslrumcnl or thc Note confticts with applicable law. such conftict shall nol aWecl othcr provisions of Ihis Security Instrumenl or the Notc which can be given elfecl withoul the conftictinll provision. To Ihis cnd thc provISIons of this Security Instrumenl and thc Notc are declared to be severable. 16, Borrower'. Copy. Borrower shall be givcn one conformed copy of the NOlc and oflhis Securily Inslrument. 17. Trauier 01 tbe Property or a Beneficial Interest In Borrower. If all or any part of Ihc Propeny or any interest in it is sold or transferred (or if a beneficial interesl in Borrower IS wid or Iransfcrred and Borrowcr is nOI a natural penon) without Lender's prior wriUen consent. Lendcr may. allls oplllln. requm: Immediate paymcnl in full of all sums secured by this Security Instrument. Howeycr. Ihis oplion shall nol be cxcrcl!icd by lendcr if excrcise is prohibited by fedcrallaw as of the dale of this Security Instrumenl. If Lender exercises this option, Lender shllllgivc Borrower nouce of accelerallon. The nOlice shall provide a period of not less than JO days from the date the notice is dclivered or mailed wllhin which Borrowcr musl pay all sums secured by Ihis Security Inltrumenl. If Borrower fails 10 pay these sums pnor 10 the ellptrallon of Ihis period, Lcndcr may mvoke any remedies permiued by this Securily Instrumcnl wilhoUl further nollcc or demand on Borrower. II. Borrower', Rlatat to ReiUlilte, If Borrower meels ccrlam condlllOns, Borrowcr shall havc Ihc nghtto havc enforcement of this Security Instrumenl disconlinued at any lime pnor 10 the earlier of: (al 5 days (or such olhcr period as applicable la9! may specify for rcillstalcmcnl) before sale of Ihe I'roperly l1unuant 10 any power of SIIle con tamed in Ihis Security Instrument; or (b) entry of a jud.mcnl enforcinllhls Securlly IMtrumcnl Those condillons are Ihal Borrowcr: (a) pays Lender alllums which Ihen would be due under Ihis Securlly Irl\lrUmCnl and the Nole had no acceleralion occurred; (b) curCi any default of any other covenanls or a,reemenll; 1"1 pays all eJlpcn"'~ Incurred in en rorci nil this SecurilY Inslrument. includinl, bUI nOI limiled to, reasonable attorncys' fee., and (dl take!> sue-h action as lendcr may reuonably require 10 Ulure lhal Ihe lien of this Security Instrumcnl, lender's nthts In Ihe I'ropeny and Borrower's obIiphon 10 pay the IUlns secured by th.s Security Instrument shall conllnue unchanted. Upon relnslalemenl by Borrower. Ihis Security Instrument and Ihe obU.alions 1ItC'!Jred hcreby shall remain fully effectIve liS I' nn Rce'c1erollllJl had occurred, H01We\ler. th.s "Ilhllo reins late shall nOlapply m the case of accelerllllOJl under parallrarhs 1.1 '" 17