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88- 104645 If Lender required monglge insurance ... I condition of mlking the lOin ...ured hy Ihis Security Instrument, Bon-ower shill pay the premiums required 10 mlintain tbe insurlnce in etrect until such time IS the requirement for the insurance lc~initcs in Ic;ordance with Borrower'. and Lender's written agreement or applicable law. a. laspICIIaD. Lender or il5 Igent may mike reasonlble entries upon Ind inspections of the Propeny. Lender shaJlaive Borrower notice at the time Dfor prior to an inspection specifying reasonable cause for the inspection. 9. Coademnallon. The proceeds of any lward or claim for damlges, direct or consequenlial, in connection with any condemnation or otber taking of Bny part of the Propeny. or for conveyance in lieu of condemnation, are hereby usil1led and shaD be paid to Lender. In the event of I toll! taldnS of the Property, the proceeds shall be applied to the sums secured by this Security Iostrument, whetlter nr not then due, with any excess paid to Borrower. In Ihe evenl of a panialtaking of the Propeny, unless Borrower and Lender otherwise agree in writing, Ibe sums secured by this Security Instrument shall be redneed hy the amount nf the proeeeds multiplied by the following fraction: (a) the total amount of the sums secured immedlalely before the taldnS, divided by (b) the fair market value of the Propeny immediately before the ..klnS' Any balance shall be paid to Borrower. If the Property is lbandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor otre.. to make an award or settle a claim for damages. Borrower rails to respond to Lender within 30 days after the dale the notice is given. Lender is luthGr".zed 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 shall not extend or postpone the due date of the monthly paymenl5 referred 10 in parasraPhs I and 2 ~r change the amount of such payments. 10. Bono..er Nol ReI....t; FDIileannee By Lender Nol I Wainr. Extension of the time for payment or modification of amonization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shaD not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amonization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's SUccessoR in interest. Any forbearance by Lender in exerei'iing any right or remedy shall not be I waiver of or preclude the e.erciJe of Iny riSht or remedy. II. s-n ud AIai&nI BouDII; Joint aad Sennl UablUty; Co-slIPl.... The covenants and ogreemenl5 of this Security WtruJDellt &hall bind and benefit the successors and assigns ofLcndcr and Borrower, subject to the provisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to man gage. grant and convey that Borrower', inteRSt in the Propeny under the terms of this Security Instrument: (b) is not personally obligated to pay the Slllm secured by this Security lostrnment; and (e) agrees that Lender and any other Borrower may agree to e..end. modify. forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrow~s COJ".JeI'It. 12. Lou <::IIar1la- If the loan secured by this Security Instrument is suhject to a law which"l5 masimum loan charges, and lhat law is finally interpreted so th.1 the interesl or other loan charges collecled or tn be collected in conneclion with the loan exceed lhe permil1ed limil5, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permilled limit; and (b) any 5Ums already collected from Borrower whieh exceeded permitted limits will be refunded to Borrower. Lender may chClOK to make this refund by reducing Ihe principal owed under 1be Note or by making a direct payment to Borrower. If a refund reduces principal. the reduction will be treated as 8 partial prepayment without any prepayment chuse under the No'e. 13. LelillalloD "JfeclIDI LeaIIer'. RJabIl. If enactment or expiration of applicahie laws h... the effect of renderinaany provision of the Note or this Security Instrument unenforceable according 10 its tenns, Lender, at its option, may require immediate payment in full of all sums secured by this Securily Inslrument and may invoke any remedies pennilled by pIfI&11lph 19. If Lender exercises lhis option, Lender shall take the steps spe<:ified in the second paraSraph of paragraph 17. 14, NoticeI. Any notice to Borrower provided for in this Security Instrumenl shall be given by delivering it or by mailing il by fint class mail unless applicable 10.. requires use of another method. The notice shall be dtrected to the Property Address or any other address Borrower designates by notice to Lender, Any notice to Lender sh.1I be siven by first class mail to Lender's address staled herein or any other address Lender designatcs by nolice 10 Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this pIfI&11lpb. IS. GoYer1llq Law; Se,erablllty. This Security lostrument shall be soverned hy federal law and the I.w of the jurisdiction in which the Propcny is toealcd. In (he event tbat any provision or clause of this Security Instrument or the Note conIlicts with applicable law. such cantliel shall not deet other provisions ofthis Security Instrument or the Note wbich can be given c:fI'ect without the confticting provision. To this end the provisions of this Security Instrument and the Nnte are dec1ared to be severable. 16. Bornnrer'I: eo".. Borrower shall be given one conformed copy of the Note and oflhis Security Instrument. 17. TraaIer of.... P--'Y or. Beaeliclallaterest in Borro"er. If.1I or any pan of the propeny or any interest in it isJOId or transferred (or if a beneficial interest in Borrower 15 sold or transferred and Borrower is not a natural person) without Lender's prior written comcnl. Lender may, al itlL option. requlrc immediate payment in full of all sums secured by this Security InstrumenL However, this option shall nol be excrcised by Lender if cxercise is prohibited by federalla.. II oftbe dateofthis Security Instrumen.. If Lender caadlc5this option, Lender .hall Jive Borrower nollce of acceleration. The notice shall provide II period of not 15 than 30 days from the date the notice is delivered or mailed wllhm which Borrower must pay all !'ums secured by this Security llIIU'UIneIlt. :r Bcrrower fails 10 pIIy these sumi pnor 10 the CJ.plralion of this period, Lender may invoke any rmled.ics permitted by this Security Instrument withou! fun her nollce or demand on Borrower. II. Berrower'. JtIaId to ReiaItate.. If Borrower meets cenam conditIOns, BorrO\\ler shall halo/e the nght to have enforcement oI'this Security Instrument discontinued al any tune pnor to thl: earlier of: (a) 5 days (or such other penod as ilpplicable law may specify for mMlatcmern) before sale of the Propcny pursuanl 10 any power of sale con.ained In thl!. Securiry IDllrwnent; or Cb) entry of a judJlllcnt cnfomn. thiS Security Instrument. Thos.c condl1lons arc that Borrower; fa) pliYS l...awkr all sums which then would Ix due under IhlS 5ccurily Instrumenl and the Note had no acceleration occurreri; (b) Cu.n5 any *"ault of IJ1Y other covenlnt.' or qreements; (c) pays all e1penSC'!o Incurred m enforcln8 thiS Security lnsI:rumall, locludina. but not bmned la, renonablc attorneys' reo; and (d) lake. such action as Lender ma)' reuonably require 10 anuee that tbe hen of Ihu, Security In'trument, Lender', nghl!o In Ihe Property and Borrower's obllptlon 10 pay 1M lWIII teCured b)' thl' Seeunt)' Inltrument .hall conllnue unchanged. Upon remslalnnenl by Borrower, thll Scr;unty Inltrument and the obbplJOMlCII:urcd hereby ,hall fefRaln fully I:rrcctl1o'C as If no accelerallon had occurred H~er, thiS nahlto ra",..telhaJI not apply In the cue of acceleration under paragraph!> I J or 17