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88- 104493 If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. 8. Inspection. lender or its agent may make reasonable entries upon and inspections of the Prcperty. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 9. Condemnation. The proceeds of any award or claim for damages. direct or consequential. in connection with an,Y condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation. are hereby assign cd 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 Sccurity Instrumcnt, whether or nnt tben duc, with any excess paid to Borrower. In thc evem of a part;al taking of the Propcrty, unless Borrower and lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (n) the total amount of [he sums secured immediately before thc taking. divided by (b) the fair markct value ofthc Property immediately before thc taking. Any balance shall be paid to Borrower, If the Property is abandoned by Borrower. or if, after noticc by Lendcr to Borrower that the condemnor offers to make an award or ~ettle a claim for damages. Borrower fails [0 respond to lender within 30 days afrer the date the notice is given, lender is authorized 10 collect and apply the proceeds, at its option, either to restoration or repair of the Propen~' or 10 the sums secured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing. any applieDt ion of proceL"Ci!<o tel pnnclpal !<ohall not c~tend or postpone the due dote of the monthly payments referred to in paragraphs 1 and 2 Llr change the amount of\uch payments, 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Exte!",on of the time for payment or modificalion of amonization of the sums secured by this Secunty Instrument granted h~ Lender tn any !louccessor In interest of Borrower shall n01 operate to release the liabilil) of the origmal Borrower or Borrn\\...er.... successors III inrerest. Lender shall nOI be required to commence proceedings agamM anl \UCC~\(lr In Interesl or refuse to ex lend time for payment or otherwise modify amonization oflhe sums secured by thl!<o Sc,,'unl) In...t rumenl Py reason of any demand made by the originaJ Borrower or Borrower's successors in interesl. Any forbe.aran,,'e b~ Lendt"r In Cl\efCIsmg any nghl or remcd~' shall nol be a waiver of or precJude the eJl:ercise of llny right or remedy J1. Successors and Assips Bound; Joint and Se.eral Liabilil)'; Co-signers. The ,-m'enants and agreements of this Sccurity Instrumen1 shall bind and bencfitlhe succcssnrs and aSSIgns of \..ender and Borrower. sUb)ectlo Ihe prO\'iSlons of paragraph 17, Borrower's covenants and agreemenls shall be joint and se\'eraL An~ BllTTO\\'er \\'ho c(l.stgn~ this Secunly Instrument bul does not execute the Note: (n) is co.signing this Securil~' Instrument only (0 monp.age. gram and con\'c} thaI Borrower', intcrest in lhe Property under lhe Icnns of IhlS Secunty Instrumcnt. (bllS nO! personally. obligated 10 pay the sums secured by this Security Instrument; and (c) agrees (hut Lender and an~ other Borrower ma)' nBr~ 10 c7it",d. modify, forbear or make any occommoda110m, wuh regard to the term~ orlhi~ SecunlY InMrumem or (he NOle without thaI Borrower's, consent, 12. Loan Charges. If the loan sccured by this Securil~. Inslrumcnt is SUb)eCIIO a luw whIch sets maXImum loan churges, and that luw is finally interpreted so thaI the intcresl or othcr lnan charges collectcd or to be collected m connectIOn with the loan excced the pennined limits. lhen: (at any such loan charge shall be reduced by' the amount necessary to reducc the charge 10 the pennilled limit; and (bl any sums already collecled from Borrower which exceeded pennilled limits will be refunded to Borrower. \..endcr muy choosc to make thIS refund by reducing Ihe principal owed undcr the Notc or by making a direcl payment 10 Borrowcr. If a rcfund rcduces prinCIpal. Ihc rcductton WIll be treatcd as a partial prepayment without uny prcpayment charge under the Note. 13. Legislation Affecting Lender's Rights. If enactment or expiralion of apphcable laws has Ihe cffect of rendering any provision of the Note or this Security Inslrument unenforceable according to ils terms, Lender. al tis opuon. may require immedi81e payment in full of all sums secured h~' thiS Secunt~' Ins1Tumem and mal 1Il\'oke an~' remedlo pcnnined by paragraph Iq. If Lcndcr excrcises thIS OpllOll. Lender shalltakc the sleps speCIfied m the second paragraph nf paragraph 17. 14. Notices. Any notice 10 Borrowcr prmnded for 10 thl'" Se(.~url1y Instrument ...hall he gl\'t'n by deh\"cnng II or b~ mailing it by firsl class mail unJess appJicable In'-' requlr~ UM: of ,mother melhod. The nOl!Ce !<ohall he direcled to the Propeny Address or an)' other address Borrower deslgnutC!<o hy nutlet' 10 Lender. An~ nollce 10 Lender shaJJ be given b~ firs1 class mail.o Lender's address staled hereIn or an~' other addrc~" Lender deslgnal~ b~ notice 10 Borrower_ Any nOUce provided for in Ihis Security Inst:-umem shull be dlXmed to hu\'e heen gl\'CIlIO Borrower or Lender when gl\'cn U!oo pro\'Jded m thts puragraph. IS. Governing Law; SeverBbilit).. Thi!<o Securlfy Instrument ,hall he go\'erned hy fcdcrallaw and the In" of the junsdiclion in which the Propeny is located, In the event that any prm'lsion or c1au!\c of thl~ Security Inslrument or the Note conflicts with applicabJe law, such conflict ~hallllot affect other pro\.isions of rhl~ Security Instrument or the ~ore which can be given effect without the conflicting prO\'islOn, To rhls end the provlsion\ ofrhis Security Instrumcnr and [he Notc are dcclared 10 bc severable. 16. Borrower9s Copy. Borrower shaJl be gi\'cn one conformed C(IPl of the Nore and of this Secunty Instrumenr. 17. Transfer of the Property or a Beneficial Interest in Borrower. If all or an~' pan of the Propeny or an~ inlcres[ in it is sold or transferred (or if a beneficial imerest in Borrower IS ~old or transferred and Borrower i~ not a O111ural person) without Lender's prior written consent, lender may, al ItS option. require lmmediate payment 10 full of all sums secured by this Security Instrument. However, thiS option shaH not be exercised by Lender If exerCise i!<o prohibited by fedcrallaw as of the date ofthis Sccurity Instrument. If Lender exercises this option. Lender shall give Borrower notice of acceleration The notice shall prm.ide a period ofnOlless than 30 days from the date the notice is delivered or maBed within which Borrowcr mu!.l pay all sum!oo secured by thi~ Securit~' Instrument, If Borrower fails to pay these sums prior to the expiration of thl~ period, Lender may invoke any remedies pennitted by this Security Instrump-nt without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If 9orrower meets cenain condil1on!ol, Borrower shall have [he TIght to have enforcement Of1his Security Instrument disconlinued 01 any time prior to thl: earlier of: (uJ 5 days (or such other period a~ applicable law may specify for reinst.atement) before sale of the Property pursuant tll any power of sale contained in this Security Instrument; or (b) entry of a judgment enforcing this Security Inst rument, Tho!<oc conditions arc that Borrower: (n) pays Lender all sums which then would he due under this Security {nstrumenl and the Note had no acccleralion 'occurred; (b) cures any default of any other covenants or agreemems; (e) pay!'. all expense!'. incurn:d in enforcing thi!\ Security Instrument, inc:luding, but nOI limited to, reasonable attorneys' fee!<o, nod {dl tukc!oo !oIu~;h artJOn as Lender may reasonably require tn u.o;;sure that the lien of this Security Instrument. Lender'" TIghts In tht.. Pr(lperl~ and Borrower's obligation to pay the sums secured hy this Security Instrument shall cnnllnUl' unl:hlln~cd t:POIl n.~lfl...latemcnt h} Borrower. thi... Security Inslrument and the obligations secured herehy shall remuln fllll~ en'eCtlH' as If no w.:celeratinn had occurred. However. this right 10 reinstate !.hall not llPply In the case or acceleration under puruE!raph... I ~ pr 17