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88- 104904 If ~er required mOrlglle insurance as a condition of making the loan secured by this Security Instrument. Borrower shall pay Ihe premiums required 10' maintain the insurance in effect until such time as the requirement for the insurance tennin.res in accordance with, Borrower's and Lender's wrinen agreement or applicable law. 8, IlIIpeCtIon, Lender or ill "senlm"y mike reuonlbJe entries upon Ind inspeclions of Ihe Propeny. Lender shall sive Borrower notice at the time of or prior to In inspection specifyinS reasonable cause for the inspection, 9, Condellllllltlon, The proceeds of Iny Iward or claim for dlmlSes. direcl or consequentill, in connection whh any condemnalion or olher tlkinS of sny psn of the Propeny, or for conveyance in lieu of condemnllion, are hereby assianed and shill be paid 10 Lender. In the event of a total tlkins of the Propeny, the proceeds shsll be applied 10 the sums secured by this Security Instrument. whether or not then due, with any ex.... paid to Borrower. In the evenl of a panial taking of the Propeny, unless Borrower and Lender otherwise asree in wrilinS. the sums secured by Ihis Security Instrument shall be reduced by Ihe Imount of the proceeds multiplied by Ihe followins fraction; (s) the tot.1 amount of the sums secured immedialely before the tlkins. divided by (b) Ihe flir market value of the Propeny immedillely before the laking. Any balsnce shill be paid to Borrower. If the Propeny is abandoned by Borrower. aT if, after notice by Lender 10 Borrower that the condemnor offers 10 make an award or settle 8 claim for damages. Borrower fails to respond to lender within 30 days aOer the date the notice is given, Lender is authorized to collect and apply the proceeds, al ilS option, either 10 restoration or repair of the Propeny or 10 the sums secured by this Security Instrument, whether or nolthen due. Unless Lender and Borrower olherwise agree in writing, any applicalion ofprocecds to principBlshBII nol extend or postpone the due dale oflhe monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. 10. Borrower Not Releued; Forbearanre By Lender Nol a Waiver, Extension of Ihe 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 shall nOI be required to commence proceedings against any successor in mleresl or refuse 10 extend time for payment or otherwise modify amortization oflhe sums secured by Ihis Securily Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lencer in exercising any right or remedy shaU nOI be a waiver of or preclude the exercise of any right or remedy. II. Sacreaon and AulIPll Bound; Joint and Se,enl Liability; C....laners, The COYenants Ind asreements of lhis SecurilY Inslrumenl shall bind and benefit the successors and ISsisns of lender and Borrower, subject 10 Ihe provisions of paragraph 17. Borrower's covenanls and agreements shall bejoint and several. Any Borrower who co-signs this SecurilY Instrument but does nol execute the NOle: (a) is CD-signing this Securily Inslrument only to mortgage, grant and convey thai Borrower's interest in the Propeny under the terms of this Security Instrument; (b) 1S nol personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the lerms of Ihis Security Instrument or the Note without that Borrower~s consent. 12, Loan C1laqeo, If Ihe loan secured by lhi. Security InSlrument is subject 10 I law which sets ml.imum loan charses, Ind lhlt law i. finllly interpreted so Ibal the inleresl or olher lOin charges collected or 10 be collecled in coMection with the loan uceed the permiued Hmits. then: (a) any such loan charge shaH be reduced by the amount necessary to reduce the charge to the permitted limitj Bnd (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by makins I direcl payment 10 Borrowcr. If a refund reduces principal, the reduction will be lreated as a partial prepayment withoul any prepayment charse under the NOle. 13a LealdatJOD All'eetial Lender'. Riabtl. If enactment or expiration of applicable laws has the effect of rendering any provision of the Note or this Security Inslrument unenforceable according to its terms, Lender, at its option, may require immediate payment in full of all sums secured by this SecurilY Instrument and may invoke any remedies pennilled by parasraph 19. If Lender e..rcisesthis option, lender shall take the S1eps specified in Ihe second parasraph of plragraph 17. 14, Notices. AllY nOlice 10 Borrower provided for in Ihis Secunly Instrument shall be given by delivering it or by mailing il by fint class mail unless applicable law requires use of another mclhod, The nolice shaH be directed 10 the Propeny Address or any olher address Borrower designates by notice 10 Lender. Any notice to Lender shall be given by first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any nolice provided for in Ihis Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this plr8grlph. 15. Gonl'lliaa Law; Set'erabUlty. This Security Instromenl shall be gOlo'erned by federal Jaw and the law of Ihe jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not afl'eet other provisions of this Security Instrument or the NOle which can be given eft'~t without the conflicting pro\ision. To this end Ihe provisions of this Security Inslrumenl and lhe NOle are declared 10 be ..".erabl.. 16. Borrower'. Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17, Tranoreo of the Property or I lleueflclll Interest In Borro..er. If all or any pan of the Property or any intcn:st in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a nDtural penon) without Lender's prior written consenl. Lender mllY, at its oplion. require immediate payment in full of all sums secured by Ihis Security Instrument. However. this option shall nOI be e"erclsed by Lender if exercise is prohibited by fed.... law ..orlhedale oflhis Security Instrumen!. Jr Lender exercise this option. Lender shall give Borrower notice of acceleration. The notice shall provide B period ofnOlless than 30days from the date the notice is delivered or mailed within which Borrower must pay all ~ums secured by this Security Instrument. If Borrower fails to pay these sums pnor to the expiralion of this period. Lender may invoke any remedies permitted by this Security Instrument without funher nOlice or demand on Borrower. Ila Borrower'. RiP!: to Reillltllte. If Borrower meets cenain conditions, Borrower shall have the rtght (0 have enfon:anenl of this Security IMtrument discontinued at any time prior 10 th~ earlier of: fa) S days (or such other period as applicable law may lpedf)' for reinstatement) before sale of the Property pursuanl 10 any power of sale contained in thiS Security Inltrument; or (b) entry of I judgment enforcing this Securily lD5trumenl. Those conditlon!'i Bre thai Borrower. (a) ~YJ. Lender aUlums ....hich then would be due under Ihis Security Instrumenl and the No[t' had no Bccclerallon occurred; (b) cures Iny default of any other covenanls or agreements; (c) pay!t all expen~ Incurred In enforcmg Ihls Securily Inltrument. including, but not limiled to, reasonable attorneys' reo; and (Ii) take!> ,uch action as lender may R!UOftI.bly require to as~ure that the lien of this Security Instrument. Lender's "Rhts In Ihe Properly Bnd Dorrower\ obIiplion to pay Ihe 'ums secured by Ihis Security Instrument ,han contmue unchanged. Ur.on remstalemenl by Borrower. thIS Seeunt)' In'trument and the obliRltlon' lCCured hereby !ihall rrmam rully cffCCIl\'l:' a!o Ir no accelera[Jt)n hat..! <<cuned. HO'Io'E\'t'I'.thil nllll to mOltlte-shall nol apply In the c~ or.ccelerauon under para!lrllrh~ I J or 11