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88- 10469€ If Lender required mortSlge insurance IS a condition of making Ihe loan secured by lhis Security Inslrumenl, BolTQlllcubaIl,JlIo)\,tb..p....,;ums,reqUired 10 maintain Ihe insurance in etfecl unlil such time as the requiremenl for lhe insuilmcc tt.nDhIal<s'in'iiCd/WdjftciO~h Borrower's and Lender's wrillen agreemenl Dr applicable law. : . 8.~:I~"I:~9r~S)lgent ~ay ~e ~nable e~l~es upon and inspeclions of lhe P~operty. Lender sba1~&l:ve lIcmo.i!i~.II~~i!)l~ iliiiLlf or prtor 10 an Inspecllon speclfymS reasonable cause for Ihe Inspeclton. 9. Coademaadon, The proceeds of any award or claim for damases. direcl or consequenlial, in connection with any condcmnalion or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid 10 Lender. [n the event of a 1018I18kinS of Ihe Property, Ihe proceeds shall be applied to the SUIDS secured by Ihis Securily [nstrumenl, whether Dr not then due, with any e.CCSlI paid to Borrower. [n the event of a partiallakins of lhe Property, unlcss Borrower and Lender otherwise asree In wriling. Ihe sums secured by Ihis Security Inslrumenl shall be reduced by the amount of the proceeds multiplied by the followlns fraction: (a) the 10lal amounl of Ihe SUIDS secured immediately before Ihe \akins. divided by (b) the fair market value of the Property immedialely before lhe IakinS. Any balance shall be paid 10 Borrower, If tbe Property is abandoned by Borrower. or if, after notice by Lender to Borrower Ihallhe condemnor otfer.; to make an award or sellle I claim for damages. Borrower fails 10 respond 10 Lender within 30 days after the dale lhe notice is given. Lender is authorized to collect and apply the proceeds. at its option, either (0 restoration or repair orlbe Property or to the sums secured by this Security Instrument, whether or not then due. Unlcss Lender and Borrower otherwise asRC in writing. any application of proceeds to principal shall not e><tend or postpone the due dale of the monthly payments referred to in paragraphs I and 2 or change Ihe amounl of such payments. 10. Borrower Not Rdeaaed; Forbearance By Lender Not a Wal,er, Extension of the time for payment or modification of amortization 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 shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otberwise modify amortization oflhe sums secured by this SecurilY Inslrumenl by reason of any demand made by tbe original Borrower or Borrower's successors in interest. Any forbearance by Lender in ex~rcising any right or remedy sba11 nol be a waiver ofor preclude the ..erciseofany right or remedy. 11. S_ ad AaalIIDlI Boand; Joint and SeYeml LlalJWIy; C....ignera. The covenanls and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Borrower's covenants and agreemmts shall bejoint and several. Any Borrower who co-signs lhis SecurilY Instrument but does nOl execute the Note: (a) is co--signing this Security Instrument only to mortgage. grant and convey that Borrower's intercsl in the Property under the terms orthis Security Inslrument; (b) is not personally oblisaled 10 pay the sums secured by this Security Instrument; and (c) agrees thaI Lender and any other Borrower may agree to e..end. modify, forbear or make any accommodations with regard to the tenns of this Security Instrument or the Note without that Bonower"s COIlICIlt. I:L Loan ClIualeL If the loan secured by this SecurilY Instrumenl is subjecllo a law which sets muimum Inan charses. and lhal law is finally interpreted so lhal the inleresl or olher loan charges collected or to be collec\ed in connection with the loan ..ceed Ihe permitted limits. Ihen: (a) any such loan charge shill be reduced by the amount necessary 10 reduce the charse 10 the permitted Iimil; and (b) any SUIDS already collected from Borrower which e.ceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the NOle or by makinS a direct paymenlto Borrower. If a refund reduces principal. the reduction will be lrealed as a partial prepaymenl withoUl any prepayment charse under the NOlO. 13, LqbIallon A1Jectiq Lender'1 Rlghb. If enactment or expiration of applicable laws has Ihe etfect of rendering any provision or the Note or this Security Instrument unenforceable according to its lenns. Lender, at its option, may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies permilted by parasraph 19. If Lender ..ercises this option. Lender shall take the Sleps specified in lhe second paragraph of paragraph 17. 14. NotIceI. Any nOlice to Borrower proYided for in tbis Securily Instrument shall be given by delivering il or by mailing il by finl class mail unless applicable law requires use of another method. The nOlice shall be directed to the Property Address or any olher address Borrower designalcs by notice 10 Lender, Any nOlice to Lender shill be sivm by first class mail to Lender's address stated herein or any olher address Lender designales by notice 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 Ihis paragraph. . 15. GmemInI LaW; SeYerabillty. This Securily Instrumml shall be governed by federaIlaw and the law or the jurisdiction in which the Property is located. In Ihe event that any provision or clause of this Security Instrument or the Note conflicts with applicable law. such conflict shall nol affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared 10 be SCYeflIble. 16. Bomnrer'I Copy. Borrower shall be given one confonncd copy of the Note and of this Security Instrument. 17. Tnmafer of the Property or a Benelldallolercsl io Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural penon) without Lender's prior written consent. Lender may, at its option. require immediale payment in full of all sums 1CCured by this Security Instrument. However. this option shall not be exercised by Lender if ~xercise is prohibited by federal law U of the dale of this Security Instrument, If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period afnot less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all "ums secured by this Security Instrument. IfBonower fails to pay these sums prior to the expiration of this period. Lender may invoke any mncdin pcnnincd by thi, Security Instrument without further notice or demand on Borrower. I', JIcJnvwerIs lU....t to Reblstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcanenl of'his Security Instrument discontinued at any time prior to the earlier of: (a) S days (or such other penod as applicable law may specify for reinstatemenl) before sale of the Propcny pursuant lO any power of sale eontamed 10 Ihl!l Security Inllrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions arc Ihat Borrower: (a) pays Lender all sums which then would be due under this Security Instrumcnl and Ihe Note had no aeederallon occurred; (b) cures. any default of any other covenanlS or agreements; (c) pIIYs all expenses incurred an enrorelO. thllo Security Instrument. ineludin,. but not limited 10. reasonable auorneys' fees; and Cd) takes such action &1 lender may rasonably require 10 wure that the lien of this Security [ostrument. Lender's nBh15 m the Property and Borruwer'" obIipuon to S-y the lums s<<ured by this Securily Instrumenl shan coollnue unchanged. Upon relnst.leme"1 hy Borrower. lhu, Sealril, Inl,uument and the obJiplions secured hereby shall remam fully eft'ecuve a!o If no aeeelerauon had occurred. HO"a'ner.thll>n.)u10 mnst.'e shan nol apply in the cue ofacceleratlOn under paragraph!. 13 or 17