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88- 104750 If Lender required mongaBe insurance as a condition of making the Joan 5<<ured by this Security Instrument. Borrower, shan pay the premiums required 10 maintain .he insurance in l:ffect until such time as the requirement for the insurance -$;i" lefin-aee<<dance with Borrower's and Lender's wriuen agreement or applicable law. I.: I' ." 'Li!t1d.r or its "genl may m.ke reasonable entries upon and inspections of the Property. Lend.r shall live Bo 'we.: k10tfcriar the time of or prior 10 an inspection specifying: reasonable cause for the inspection. 9. CoodnaudOll. 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. arc hereby assiplCd and shall be paid to Lender, In the even' of a 10lal taking of the Property. ,he proceeds shall be applied to the sums secured by this Security Instrument, whether or not rhen due. with any excess paid to Borrower. In the event of a panial taking of the Propeny, unless Borrower and Lender otherwise agree in writing, tbe sums secured by this Security Instrument shall be reduced by the amounl of the proceed. multiplied by Ihe following fraction: (aJ ,he lolal amount of the sums secured immedialely before lbe taking. divided by (b) the fair market value of the Property Immedi.tely before thelakiug. Any balance shall be paid 10 Borrower. If the Propcny is. abandoned by Borrower, or if, after nmice by Lender to Borrower lhe[ the condemnor offers to make an award or scule a 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, eilher 10 resloration or repair of the Property or to the sums secured by Ihis Securily Instrument. whether or not then due. Unles.s Lender and Borrower otherwise agree In writing, any applicallon of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. 10. Borrower Not Releued; Forbearance By Lender Not. Wainr, Extension of the time for payment or mOlhfication of amorti"lion of lh. ,urn, secured by lhis Security Instrument granled by Lender to any successor in mterest of Borrower shall nor operate 10 release the liability of the original Borrower or Borrower's successors in interest. Lender shall nm be required 10 commence proceedings against any successor in interesl or refu5C to eXlend time for llIyment or otherwise modify amortization of the sums secured by thiS Security Instrument by reason of any demand made by the original Borrower or Borrower's successors In interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. II. Succeaon ODd AaaIpa Boaad; JolJIl aDd SenraJ Uablllty; C....lgne.... The covenants and agreements of th1.5 Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, !iubjcct to the provisions of paragraph 17, Borrow.r's covenants and agreements shall bejoint and ..veral. Any Borrower who co-signSlhis Security InsrrumC'JIt but dca not uecutr the Note: (a) is co-signing this Security Instrument only to mongage, grant and convey that Borrower's Intcn::51 in the Propeny under the tenns of thIS SecurilY Inslrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) Igrees that Lender and any olher Borrower may agree 10 extend. modify, forbear or mike any accommodallons with regard 10 the lerms of Ihis Seeunty Instrumenl or the NOle withoul Ihlt Borrower's conlC'IU. ll. Lou C'IaaraeI. If the loan secured by thi5 Secunty Instrument is subjcct 10 a Jaw which sets maximum loan charges. and Iha. law is finally inlerpreted 50 thai the interest or other loan charges collected or 10 be collected in connecUon WIth the loan uceed the permiued limits, Ihen: (a) any such loan charge shall be reduced by the amount necessary 10 reduce the charge to Ihe pennuted lImn; and (b) any lums already callccled from Borrower which exceeded pennitted limits will be refunded 10 Borrower Lender may choose 10 make Ihls refund by reducmg the principal owed under the Note or by making a direct paymenl to Borrower. If a refund reduces pnncipal, the reducllon will be treated as a panial prepayment wuhout any prepayment chargc under Ihe NOle. 13. LeaiIIIItlOD Alfect.lna Lauler'. RlahlL If enaclmenl or cxplratlOn of applicable laws has the df'ect of rendering any provision oflhe Narc or Ihl!t Security Instrument unenforceable accordmg 10 Its lerms, Lender, at its option, mlY require immediate: payment In full of all sums iCCurcd by thl~ Sa:Unl)' In~(rumcnl ond may Invoke nny remedies penninecl by paragraph 19. If Lender exerClSO thiS option, Lender shall lake the sleps specified In the second paragraph of paragraph 17, 14. Notlca. Any norice to Borrower proYlded for in thIS Seeunty Instrumenl shall be gi....en by deli....ering it or by mailing it by fint class mad unless apphcable law reqUires use of Bnarher method. The nOlice shaH be directed 10 the Propct1y Address or any other address Borrower designates by norice to Lender Any notice to Lender shall be given by first class multo Lender's address stated herein or any other address Lender dcslgnates by norice to Borrower. Any notice provlded for in this Secunty Instrument shall be deemed to have been given to Borrower or Lender when gi....en as provided III this paragraph, 15. Go>ertllq....w; Se.erablUty, This Secunly Instrument .hall be governed by federal law and lhelaw of the JunsdtclIon in which the Property is located. In the event that any proVISion or clause of thiS Seeunl)' Inslrument or Ihe NOle connicu with applicable law, such conniet shall not atrect other prOVISions of thiS Securily Instrumenl or Ihe Note which can be given drect without the conflicting proviSion. To this end the provlslon~ of Ihls Seeuot)' Instrument and the Nole are declared tobeSC'lr'erabJe. 16. Borrower'. Cop,. Borrower shan be g1...en one conformed copy of Ihe NOle and of IhlS Security Inslrument. 17. TnaIf'r:r of the Property or . Beudiclal Jutensl in Borrower. If all or 3ny pan of the Property or any mterest In ir is sold or transferred (or if a beneficial interesl in Borrower IS sold or transferred and Borrower IS nOI a nalura) person) withour Lender's prior wntten consent, Lender may. at Its option, require Immechare payment In full of all sums ~ured by this SecUril)' Instrument. However, thIS option shall not be e.\erclsed by Lender If exercl!tC IS prohibited by fcdc:nJ law as of the date of this Security Instrument. Ir Lender uercises this option. Lender shall give Borrower nollce of acceleration The noUce shall prOVide a penod of nor leu tban laday. from tbe dale the notice is delivered or mailed wlthm which Borrower musl pay all sums secured by thu. Secunty Imtrument. If Borrower fails 10 pay Ihese sums. pnor to Ihe expiratIOn of thiS penod, Lender may mvoke any remedies permitted by this Seeunty Instrument MthoUI further noUce or demand on Borrower .1, 1IoITower'. RJpllo Rehtllate. If Borrower mccl5 certam conditlon~ Borrower shall have Ihe nghl 10 ha~e enforccmmr OflhIS Security Instrumenl discontinued at any time prior to Ihe earher of: Ca) 5 days (or such other penod 8!i .pphCllble la... may lpeclfy for RtnSlalemenl) before we of the Properly pursuanl 10 any power of sale con tamed 10 Ihls Sccunty IMtrummt; or (b) entry or a Judl1l1col enforcmg this Seeunty Inslrumen! Those cond11lon.. are Ihat Borrower (a) paY' Lmder an 'liuml ...hlch tbm would be due under this Sccunly Im.lrumenl and Ihe NOle had no acceleration occurT'ed; fh) cures any dcf.ull of an)" other coyenants or agrrcmenls; (c) pay!! all upcn!tO Incurred 10 enfon:mg Ihl~ Serun1y Inslrument, mcludJOl, but not hmned to. ruson.ble allome)'1o' fees. and fdJ lake. !i.uch aCllon ..., Lender mal' rcuonabl) reqUire' 10 auure Ihal the hen of thl!. SecUMly Instrument, Lender'5- n~hls 10 rhe' ProJlC'n)" and Borrower'.. nbhpuoo 10 pA)" the !.um, ~ured by thiS Seeunty Instrument shall continue unch.nged L:p<lD relO'lolale'menl h) Bonowa.thn Seeunr)' In"rument and rhe Dbhptlon\ \CeUI'M hcreb) ,h.11 remain (ull) effeclt\'C' 111\ I( nn ilccelerallUtl had (Iccu:ncd H01IIr'e'n. Ih15 nshllo rr:tnllalc "haJJ not apply In Ihe ca\oC' of acceler-allnn under raralZ'.rh.. 1.\ \11 \..