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88-104858 If lender required mortgage insurance as a condition of moking the loan secured by Ihis Security Instrument, Borrower '!ahall PO)' the premiums rcquin=d 10 maintain the insurance in effect unlil such time as the requirement for the insurnncc terminates in accordance with Borrower's Bnd Lender's written agreement or opplicnble law. 8. ID.lpectlon. lender or its agent may make reasonable entries upon .:md inspections of the PrcperlY. Lender shall gi\'e Borrower nolice at the time of or prior to an inspection specifying reasonable cause for the inspection. 9. Condemnation. The proceeds of Bny 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. are hereby assigned and ,haJJ be paid to Lender. In the evenl or a t0101 taking or the Properly. the proceeds shall be applied to the sums secured by this Security Instrument. whether or not then due, with any excess paid to Borrower. In the event of n partinl taking of the Property, unless Borrower Dnd Lender otherwise agree in writing, the sums secured by this Security Instrument sholl be reduced by the amount of the proceeds multiplied by the following fraction: (a) the lotal amount of the sums secured immediately before the taking, dlvided by (b) the fair market value of the Propeny immediately before the taking. Any balance shall be paid to Borrower. If thf' Property is ahalldoncd by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make on award or sellle a claim for damages. Borrower fails to respond to Lender within 30 day'" after the date the notice is gi...cn, Lender is authorized to collect and apply lhe proceeds, at its option. either to restoration or repair of the Property Of to the sums secured by this Security Instrument. whether or not then due. Unless Lender and Borrower otheN'ise agree in writing, any applicution of proceeds to principal !'ihall not extend or postpone the due date of the monthly payments referred to in paragraphs I and 2 nr change the amount of such payments. 10. Borrower Not Releasedi Forbearance By Lender Not 0 Waiver. Extension of the time for payment or modification of amortizalion or the sums secured by this Security Instrument gnmtcd hy Lender to any successor in inlerest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest, Lender shall not be required [0 commence proceedings against any successor 111 II1tcre...1 or rcfu...e 10 extend time for payment or otherwise modify amortizatIOn of the 5UOIS secured by this Security Instrumenl by renson 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. 11_ Successors and Assigns Bound; Joint and Sueral liability; Co-slRDers. The covemm1s and agreements of thIS Security Instrument shall bind and benefit the successors and I1ssigns of Lender and Borrower. subject to the provisions of paragraph 17. Borrower's covenants and agreements shall bCJoint and !'ieverw. Any Borrower who co-signs this Security Instrument but d0C5 not execute the Note: (a) is co-signing this Security Instrumen1 only to mortgage. gmnt and convey thaI Borrower's inlen:st In the Property under the U:rms of this Securily Instrumenl; (bl is not personally obligated 10 pay the !tum!\ !tC..'CurL-d hy thi!\ Security InstrumeOl; and (c) agrees thai Lender and any olher Borrower may agree to extend, modify, forbear or make any accommodations with regard 10 the: terms of this Security Instrument or the Note without thai Borrower's consent. 12, Loan Charge!, If the loan secured by this Security Instrument is subject 10 a law which sets maximum 10Bn chllrg~, and Ihat Jaw is finally Interpreted so that the interest or olher loan charges collected or to be collected in connection wilh the loan exceed the permined limits, then: (II) IIny such loun charge shall be reduced by the amount nccCMary 10 reduce the: charge to the: permitted limit: and (b) any !Oums ulrcndy collected from Borrower which exceeded penmned limits will be refunded 10 Borrower. Lender muy chnns.e tn make this refund by reducing Ihe principal owed under the: Note or by making a direct paymcnl10 Borrower. If a refund reduce!. principal. the reduction will be treated as a partial prepayment wllhoutany prepayment charge under the Note. 13. Legislation Affecting Lenderts Rights. If enaclment or cll.piration of applicable laws has the effect of rendering any provision of the: NOh: or this Security Instrument uncnforceable llccording In its lerms, Lender,llt its option, may require immediate payment in full of all sums secured by Ihis Security Instrument I1nd may in...nlc.e any remedies pennined by paragraph 19. If Lender exercise!. this option. Lender shall take the sleps specified in Ihe second pllragraph of paragraph 17. 14. Noliees. Any notice to Borrower provided for in Ihl' Secunty Instrument shall he given by ddi...cring il or by mailing it by first class mail unless applicable law reqUIres use of Illlother method. The notice shaH be directed to the Property Address or any other addrcss Borrower designates by nOllce to Lender" Any notice 10 Lender shall be gi...en by 6rst class mail to Lender's address stated herein or any othcr addres~ Lender de!lolgnnte!i by notice to Burrower. Any notice provided for in this Security Instrument shall be deemed 10 have been gl\ocn to Borrower or Lender when given as provided in this paragraph. 15. GonmiDR Law; Senrability, ThiS SectJrlt)' InstrumC'nl shall he gll\'erncd hy federal law and the law ufthe jurisdiction in which the Propcny is localed. In the event thai any pro...bmn or dau~e (If thi!!. Secunty Instrumenl or Ihe Note conflicts with applicable law, !luch connict ..hall not affect other provisions of this Security Instrument or the Note which can be given effect without1he conflic1ing provision. To tins end the provision~ of this Security In!lotTument llnd the Note an:: declared to be severable. 16. Borrower's Copy. Borrower shall be given one eonfonned copy ufthe Note und of this Security (nstrument" 17, Transfer of the Property or a Beneficial Interest in Horrower. If all or any part of the Property or any interes1 in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is noll1 natural pcrwn) without Lender's prior wrinen con!tCnl. Lendcr may, at i1'" option. require immediate payment in full of all sums secured by this Security Instrument. Howe'.er. this option shall nnt he exercised by Lender if exercise is prohibited by fc:derallaw as of the date of this Security Instrument. If Lender exercises this option, Lende-r shall give Borrower nollce of accelerution_ The noUce shall prnvide a period ornolles.'~ than 30 days from the date the nOlice is delivered or mUlled wllhm which Borrower mu'\t pay all '\ums 'iecurcd by this Security Instrument. If Borrower fails 10 pay these sums pnur 10 Ihe eJl.plralion of Ihi~ period, Lender mllY Invoke any remedies permitted by this SecurilY Instrument without further notice or demand on Borrower" 18. Borrower'. Rlpt to Relnsllte. 1f Borrower mcels cenaln condiuons, norrnwer !"-ohall huvt.' the right In hl1\'e enforcement oflhis Security Instrument discontinued 01 any lime prior In the earher of (II) 5 dOl)"' (or 'iuch tuher penud a!'. applicable law may \pc:cify for reinstatement) before sale oflhe Propcrt~. pur~uant to an)' power of \lll~ conlalned inlhi, Security In\trument; or (b) cntl)' of a judgment enforcing Ihis Seeunl)" Inslrumenl. Tho\c cnnl.lluUI1\ urc thuI Dorrower fa) pay!. Lender all 'Sums which then would be due under 1his Seeunly Inslrument and the N()u~ had 110 accclerul1U11 occurred; fb) curo. any defaull of Bn)' other covenants or agn::cme:nt!., (c) pay... all e'pc:n!'le-.. IIh:urrcd In enfnrclJ1.g Ihl" Seeunt)" Im.trumc:nt. IncludlDJ.. bUI not hmuetJ 10, rea500nable atlorncY'I: fees; and (dllakeo. '\II:h aCllnl1 1I~ Lender mu)' ru..\Ofl8bl) r~ulTI: 10 a!t.!iurc: Ih.1 the hen or thill Scc:urity InMrumcl1l, Lender', n~ht, 1JI the Property ,1Ild Ihlrro",'('r', obltpl1on Hl JT.I) 1ht ..um\ ..ccurcd hy Ihl'" Stturi1)' Imtrurncnl ..hull Cllnllllue unchan~rd l"t'lilfl fCIII'~I..tl'm(,1I1 h) 8orro....er. Ihl' Sccunt) In'trumenl ami lht' tlhhgl1l1nm. 'ccurcd herC't.)" ..hall f('tn.UI1 full~ dft"l'tl\t" I'" If Ill' ;H'~'dl'falll1!l hall nc,"urrnJ 11"... t"\ref , thn nMhlln rt"III'talt' ,hall not appl)' III Iht' l'a,C' of IIccdNalllln lilith" p:lralzrnr,h.. 1\ ,1I I ~