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88- 104832 Ir Lend.r required monw. iMuranc. u a condition of makins Ih. loan ...ured by this Securily Instrumenl, Borrower shaII~ the preII!iUlIII requi..... to maintain th. insurance: in elfect until such time u th. requiremenl for Ih. in.u....ci iam;.)n p~ with Borrower'. and Lend..... wrilten asreement or .ppUcabl.l.w. ,e. ~,.Letldcr Ilf its.....1 may make reasonabl. .ntri.. upon and in.pection. of th. Propeny. Lend.r .ball sl"" Ilori'Owcr Iioticeiot the time ofor prior 10 an inspection .peciryins reason.bl. cause for th. in.pectiDn. 9. ~. Th. procecd& of any award or claim for damag.., direcl or consequential, in connection with any condemnation or olher lakinS of any pan of Ih. propeny, or for conveyance: in li.u of condemnalion, arc h.reby wiped and sIWl be paid to Lender. In the ovenl of a totallakins of lhe Property, the procecd& .ball be applied to Ih. sums secured by this Securily Ins\nllllCllt, wbether or nOl then due, with any ex.... paid \0 Borrow.... In th. .vent of a paniallaltinS of th. PropertY. unI... 1IorTow... and Lender otherwise agree in writinS, the IUDlI ...ured by Ihi. Security Instrument .haIl be reduced by the amount of the procecd& multiplied by the following fraction: <a) th. total amounl of Ih. sums ...u..... immediat.ly before the laking. divided by (h) the fair markc\ valu. of the Property immediately before th. taking. Any balance shall be paid \0 Borrower. Ir the Property is abandoned by Borrower, or if. aIIer notice by Lender 10 Borrower lhattb. condemnor offers to make an a..a:d or settl. a claim for daJnascs. Borro..er fails to respond to Lend.r within 30 days aII.r th. date th. notice is given, Lender is authorized to collect and apply Ih. proceeds, at ilS option. .ilh.r 10 restoralion or repair ofth. Property or to the sums secured by this Security InstrUll'lellt, whether or not then due. Unless Lender and Borro..er olbcrwisc agree in writinS. any application of proceeds to principal shall nOI..lend or postpone the due dat. ofth. monthly paymenlS referred to in paragraphs I and 2 or chanS.tb. amounl of such paymenlS. 10. Borro.... Not ReJe.ed; ForlleanDce By Leader Not a WaI..r. Estension of th. lim. for payment or modification of amortization of the sums secured by Ibis Security Inslrum.nt granted by Lend.r 10 any successor in interest of Borrower shall nOI operate to release the liability of the original Borrower or Borrower's successors in inlt~rest. Lender shall nol be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modifY amonization of the sums ...u..... by this Securily Instrument by reason of any demand mad. by the originalllorTower or 1IorTow..... sua:esson in ioterest. Any forbearance by Lend.r in ..ercising any right or remedy shall not bea wai..... of or prccIude lbeescrciseofany risht or remedy. 11, s.ca.on ud AIIIpo Boud; JoIat _ SnenlIJabWty; Co-oIpen. Th. CQvenanlS and agreemenlS of this Security Instrument shall bind and benefitth. successon and usigns of Lender and Borro...r, subject 10 the provisions of paraaraph 17. Borrower's covenants and agreements shall be joinl and sev.ral. Any Borrower who co-signs Ihis Security Instrument bul d.... Dot esccute the Note: <a) is co-signios this Securily Instrumenl only to monpsc. grant and convey lhat Borrower's interest in lb. Property und... the tenns of this Securily Inslrument; (h) io not pcnonaIly oblipled to pay the sums secured by this Security Instrument; and (c) _ lhat Lender and any olher Borrower m.y agree \0 exlend, modify, forbear or make any accommodations with rcprd to the Icnns of this Security Inolrument or Ih. Note without thatllorrowcr'l COIIICIIL U. ..... CMrIIL If the loan secured by this Security loolrument is subject to . Ia.. whicb sets masimum loan charges. and that Ia.. is llnaUy iotcrprelcd so that the inten:st or oth... loan cbarses collected or to be collected io CODDCCIion with the loan cs<=d the permitted limits. Ihen: (a) any such loan charge shall be reduced by Ih. amounl necessary \0 .....uce lb. charge 10 the permitted limit; and (h) any sums already collected rrom Borrow... which cscccded permitted limilS will be refunded \0 Borrower. Lender may choose 10 mue tbio refund by reducing Ih. principal owed under the Note or by makin& a direct paymenlto Borrower. If a refund .....uces principal, tb. reductioo will be lreated u a paniaI prepayment without any prepaymenl charge under the Note. 13. LealoJadoIo AlreetbIa Lader's RJPta. If enaclment or expiralion of applicabl. laws hu th. effect of rendcrina IIDY PnMslon orlhe Nme or this SccurilY Instrumenl unenforceable according to its lenDS. Lender. at its option. may require immediate payment in full orall .ums secu..... by this Security lostrumenl and may invoke any remedi.. permihed by paraarapb 19. If Lender escrcises this option, Lender shall take Ih. Sleps specified in Ih. second paragraph of paragraph 17. 14. Notka. Any notice: to Borrower provided for in Ibis Security Instrument shall be given by d.liverins il or by maiIins it by lint claso mail unless applicabl. Ia.. requites use of anDlher m.thod. Th. notice: shall be directed '0 the Property AdcIrcss or any other oddrcss Borrower designates by ootice to Lender. Any ootice to Lender shall be given by lint claso mail to Lender's IIddress staled herein or any other odd.... Lend.r designates by notice to Borro..er. Any notice: provided for in this Security Instrumenl shall be deaned to have _ given to Borrow.r or Lender when aiyen as provided in this paraaraph. 15. ~ UW; Snenll\llty, This Security Instrument shall be governed by rederallaw and Ih. law of th. jurisdiction in which the Property is located. In the event lhat any provision or clause of this Security Instrument or the Not. cooIIicts with oppIicabIe law. such conIIict shall not aft"cct otber provisions of this Securily Instrument Dr the Not. ..hich can be given clrcct wilhout the confticting provision. To this end Ih. provisions of this Security Instrument and the Not. are dccIarcd \0 be scvenblc. 16. ............ ea", Borro..... shall be giyen on. confDnned copy of the Note and of this Security Instrument. 11. y....rer or tile Property or a lIeBeIIciaIlaterelt Ia Borrow.r. If all Dr any pan of the Propcny or any interesl in it is sold or t.ransferred (or if. beDdiciaJ interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written COIIICIIL Lender may. at ilS option, require immediate payment in full of all sums secured by this Security InstrumCllt. Howev.... this option shall not be exercised by Lender if ex.rcise is prohibited by fcdcra11a.. as oflbe dateofthis Security lnstrummL If Lender escrcises this option. Lender shall giv. Borrow... notice of accc:lcratiDO. Th. ODtiC. shall provide a period ofnall...than 3Odaysfrom the date the notice is ddiven:dor mailed within which Borrow.r must pay all sumssecurcd by thi. Security InstrumenL If Borrower rails to pay these sums prior 10 lbe cspiJation of this period. Lender may invoke any remedies permitted by this Security InstrWlIalt without funher notice: or demand DO Borrower. IL -. ..... ID _. If Borrower meets certain condition.. Borrow.r shall have th. rishlto haye enforcement of this Securily IllSUtIJIICIlt discootinucd at any time prior to th. carlier of: (a) 5 days (or oucb olher period as applicable law may Ipccify for reinstatement) before sal. of the Property PUmJBJIttD any po..er of sale contuned in Ihis Security IlISIn1JIICIlt; or (h) enlry of a judpoent cnforcins Ihis Security Instrument. Thoie conditiono are that Borro......: (a) pays Lender all SIIJIIS which then ..ouId be due under this Securily Instrument and Ih. Not. hod no accc:I.rauon o=arrcd: (h) cures any ddaalt of any other c:ovenanlS or BIT_IS; (c) pays all expen... incurred in enforcing this Securily IIISU1ItDCIlI. ioclucliq. but not limited 10. rcasonabIe auom.,..' fees: and (d) tak.. .uch action.. Lend.r may raMIIlBbIy require In .....re that the lien of this Securily Instrument, Lender', "Shts In th. Property .nd Borrow.r', obOpIMJD to ..y the MImi te:CUf'td by Ibis Security lnllrument ihall continue unchanled. Upon mnstatement by _. Ibis Security Instrument_lhe obIiptions secured hereby shall rcm&In fully elf..,lI'." If no accc:lerallon had tXCUrnd.. Howner. t.hs OpllO m.nlUlC WJI not apply In 1M cue of accderalJon under paragr.ph~ 1) or 17