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88-104920 If Lender required mongage 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 Icnninales in accordance with Borrower's and Lender's written agreement or applicable law. 8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Propeny. Lender shall gi\'C Borrower no!icc at the time of or prior to an inspection specifying reasonable cause for the inspection. 9. Condemnation. The proceeds of any award or claim for damages. direct or consequential, in connection with any condemnation or olher Inking of any part of the Property, or for conveyance in lieu of condemnation. nrc hereby assigned and shall ~ paid to Lender. In the event of.ll tala) tnklng of the Property, the proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due. with any excess paid 10 Borrower. In the event of D partinl taking ofthe ProperlY. unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the laking, divided by (b) the fair market value of the Property Immediately before the taking, Any balance shalJ be paid to Borrower. If the Property is abandoned by Borrower, or if, after notice by Lender 10 Borrower that the condemnor offers to make an award or seule a claim for damages. Borrower fails 10 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, either 10 restoration or repair of the ProperlY or to the sums secured by this Security Instrument, whether or not then due, Unless lender and Borrower otherwir>c agree in writing, any application of proceeds to principal shall nOI extend or postpone the due dale of the monthly payments referred to in paragraphs I and 2 or change the amount of such payments. 10. Borrower Nor Releasedj Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Securily 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 nol be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization orthe sums secured by this Security Instrument by reason of any demand made by th~ 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 Several Liability; Co-signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lcnder and Borrower, subject to the provisions ofparngraph 17. Borrower's cm'cnants and agreements shall bcjuint and se\'crul. Any Borrower who co-signs this Security Instrument bur does nOI execulc the Note: (a) is co~signing this Security Instrument only to mortgage, grant and convey that Borrower\ interest in the Property under the tenns of this Security Instrument: (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees lhal Lcnder and any othcr Borrower may agree to extend, modify. forbear or make any accommodations with regard to the terms of thi!! Security Instrument or the Note without that Borrower.s consent. 12. Loan Charges. If the' loan ~ccured by Ihis Security Instrument i!> subject to u law which sets maximum loan charges, and that law is finally interpreled so that the interest or olhrr loan charges collected or 10 be collected in connection with the loan exceed the pcrmllted limits, then: {a) any such 10l1n (:hllrgc "hall be reduced by the amount necessary to reduce the charge to the penmtted limit; and (b) any sums already collccled from Borrower which exceeded permitted Iimll!o. will bc refunded to Borrower. Lender may choose 10 make thb refund by reducing the principal owed under the Note or by making a direcl payment 10 Borrower. Ifa refund reduCL"S principal, the redul.tion will be treated as a partial prepayment without any prepayment charge under the Nole. 13. Legislation Affecting Lender's RiRhts. If enactment or cx.piration of applicable laws has the effect of rendering any proviSIOn oflhe Nole or this Securily Instrument unenfnrccablt: ilccnrding lu II!> lerms, Lender, at its option, ma)' require immediatc payment in full of all sums secured by Ihis Security ImilCUment and may invoke nny remedies permitted by paragrnph IQ. If Lender cxercisc..~ this option, Lender shan take the steps specified in the second paragraph of parngraph 17. 14. ~otiCC5. Any nOllce 10 Borrower provided for in this Sccunty Instrument shall be given by delivcring it or by mailing II by firM e1a.,s mall un leu apphcable law requires use of another method. The noticc shall be directcd to the Property AddrC\s or any olher address Borrower designate. by notice to Lender. Any notice 10 lender shall be given by first class mad ({) lender's address stuted herein or any other address Lender designatc~ by norice (() Borrower. Any noticc provided for in thIS Sccunty Instrument shalJ be deemed to have been given to Borrower or lender when given a'i provided in this paragraph. 15. Governing Law, Severability. This Security In.!otrumenl shall ce governed by federal law and the law of the jurisdicllon In which thc Property is local cd. In the event that an)' prOVIsion or clausc of Ihis Security Instrument or the Nole connicts with applicable law, such connict shall nol affect other provisions of this Sl'Curity InMrument or the Note which can be ~H\"l:n erTec. without the conflicling proviSion. To this end the provisions of this St:CurilY Inslrument and the Note are declared to be foC\'erable. 16. Borrower's Copy. Borrower shall be given one conformed copy of the Nole and of this Secunty Instrument. 17. Tuosfer or tbe Property or a Beneficial Interest in Borrower. Ir all or any part of the Prnpcrty or UII)' mterest In Ill!. sold or lrunsferred (or if a beneficial interest in Borrower IS sold or tran~ferred and Borrower IS not a natural person) withoul lender'!> pnor wnt1r:n consent, Lender may. at its option, reqUire immediate paymenl in full of all ~ums secured by this Security Instrument. However. lhis oplion shall not be e1.clci!ied by Lender if cxcrcl!tC i!'t prnluhllcd h) fcderallaw as oflhe dale Oflhis Secunl)' Instrument, If Lender exercises Ihis option. Lender shall give Borrower notice of acceleration. The notice shall prm'idc a penoll of no 1 less Ihan 30 days from the date lhe notice is delivered or mailed within which Borrower must pay aU !-oums !lccurcd by Ihis Security Instrument. If Borrower fails to pay these sums prior to the cx.piration of thiS period, lender may invoke an)' remedies permined b}' thi!'. Security lnstrumt.nt without further notice or demand on Borrower. 18. Borrower's Riehl to Relllltale. If Borrower meets certain conditions. Borrower shall hal,'c the righl to have alforcemenl ofthi~ Security Instrument discontinued at any time prior to the earlier of: (u) 5 da)'s (or !<ouch olher pCTloli a~ applicable law may specify for reinstatement) before sale of the Property pur!luant 10 an)' poYt'er of !\.ale !:ontamcd In 11m SecUril,)' Inslrument; or (b) entry of a judgmenl enforcing Ihis Secunty Imarument Those condllulll~ arc that Burrower (a) pay!. Lender all sums which then would be due under this Securit)' Instrument and the Noh:' had nu ac!:deratilln occurred; (b) cures any default of any olher covenants or agreemenls; (cl pay!> ;111 c'\pt'nsC"\ IOcurrell III cn(un.:lIIg Ihls Sc:cUnI)' InMrument. ,"e1udmg, bUI nol hmned to, reasonable atlomey~' fees, and ld) lah" sudl 11l.1101I Il~ Lender mil) rcouonabl)' rrqulfI~ 10 llM,ure thar the Jien of this Security Instrument, Lender's nghh 10 the Pmpt:r1~ and BoUt," er\ obhgallOn 10 pal Ihc !Ioum!. !lCCured by thi!i SccUr1ly Jnstrumenl ..h.:lll cnnlmuC' undlilup:cJ l:pllll rC'llI!IlalcfllCIlI h) BorrOlA/cr. th1':l, SecunlY In!l.lrUmcnl and the obhgallon!. !tC:Curcd hC'reb~' shall remaUl full) dTe-L'II\c:;t~ If Ihl .h...:t'k',IIIIII\ hild occurred Uo",'c\o'er.lhl!r oghlto remit.le shallnol apply In Ihe l.:3M:' of llccderntlOlI uru..ler p3raglarh, 11 ,II I ~