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88- 104963 If Lender required mortgage insurance as 8 condition af making the 10Bn secured by this Security Instrument. Borrower shall pay the premiums required to maintain the insurance in effect until such time: 05 the requirement for the insumnce terminates in accordance with Borrower~s and Lender's written agreement or IJpplicablc law. 8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the lime afar prior 10 an inspection specifying reasonable cause for the inspection. 9. CondemnaUon. The proceeds of any award or claim for damages. direct or consequential. in connection with any condemnation or other laking of any part of the Properly. or for conveyance in lieu of condemnation. are hereby assigned and shall be paid '0 Lender. In Ihe evenl of a lorallaking of ,he Propcny. ,he proceeds shall be applied 10 the sums secured by Ihis SecurilY Instrument. whether or not then due, with any excess paid to Borrower, In the event of a panial taking of the Property. unless Borrower and Lender otherwis;: agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraclion: (a) the total amounl of the sums secured immediately before the taking. divided by (b) the fair market value of the Propeny immediately before the taking, Any balance shall be paid to Borrower. If the Propeny is abandoned by Borrower, or if, liner notice by Lender 10 Borrower that the condemnor offers to make an award or settle 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 ils option, either to restoralion or repair of the Property or to the sums secured by this Security Instrument, whether or not then due, Unless lender and Borrower otherwise agree in writing, any application of proceeds to principal shall nol extend or postpone the due date of the monthly payments referred 10 in paragraphs I and 2 or change the amount of such payments. 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument gran led 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 not be requited to commence proceedings against any SUCCC5sor in interesl or refuse 10 extend time for payment or otherwise modify amortization of the sums secured by this Security Inslrument by rcason 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. SUtteS50fS and Auigns Bound; Joint and Several Liability; Co-siitDers. The covcnants and agreements of this Security Instrument shall bind and benefillhe successors and as...igns of Lender and Borrower. subject to the provisions ofparagruph 17. Borrower's covenants and agreements shall bejoint and several, Any Borrower who co-signs this Security Instrument but docs not execute the Note: (a) is co-signing this Security Inslrument only to morlgage, grant and convey that Borrower's interest in the Property under the terms of this Securily Instrumenl; (h) is n01 personally obligated to pay the sums secured by this Security Instrument; and (c) agrees thai lender and any olher Burrower may agree 10 extend, modify, forbear or make any accommodations wilh regard to the lerms of Ihis Security Inslrument or the NOle without that Borrower'sconscnl, 12. Loau Claraes. If the loan secured by this Security Instrument is subjecl to ulaw which sets maximum loan charges. and that law is finally interpreted so that Ihe:: interest or uihcl IUlIiI .:h:.:rg~~ collected or to be collected in connection wilh the loan cllceed the permitted limits, then: (a) an)' such loun charge !Ohlll1 be reduced oy ih.: ~!!!rumt necessary to reduce the charge to the pc:rmiucd limit; Bnd (b) any sum!t ulrcml)' colleCled frum Borrower which exceeded permitted limits will be refunded to Borrower, lender may chomic 10 mllkc Ihis refund hy reducing the principal owed under the Note or by making a direct paymc:nllo Borrower. If a n:rund reducL~ princlpul. the reduclion will be trealed as a partial prepaymc:nt without any prepayment churge under the Note, 13. Legislation AffectinK Lender's Rights. If enactmc:nl or expiratiun of i1pplicllhlc laws has Ihe effect of rendering any provision of the Note or this Security Instrument unc:nfon::eablc nccording to its terms, Lcnder, al ils option. may require immediate payment in full of all sums secured by this Security Inslrument and may in\loke any remedies permitted by paragraph 19, If Lender exercises this oplion. Lender shall take the steps specified in the second paragraph of paragraph 17. 14. Notices. Any no lice to Borrower provided for in this Security Instrument shall be given by delivering it or hy mailing it by first class mail unless applicable law requires use of anal her melhod. The notice shall bc directed tt> the Property Address or any other address Borrower designales by notice to Lender. Any notice to Lender shall be given by first class mail to Lender"s address stated herein or any other nddrcs!'! Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shull be deemed to have been given 10 Borrowcr or Lender whcn given a'i provided in this paragraph, 15. Governing Law; Severability. This Security Instrument shall be governed by federullow and Ihe law of the jurisdiction in which the Propert)' is located, In Ihe event dill[ any provision or clause of Ihis Security Instrumcnl or Ihe Note conflicts with applicable law, such conflict shall not affeCI other provisions of Ihis Secunly Instrumenl or the Note which can be given effect without the conflicting provision. To this end the provisions of Ihis Sl."l:urit)' In!Otrument and Ihe Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one conformed C(lpy of the Note and of Ihi!'! Security Instrumenl, 11. Transfer of the Property or a Benefieiallnterest in Burrower. If all or any parl uf (he I)ropcrty or any mteresl in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower IS nnt a nalural person) wUhout Lender's prior wrillen consent. Lender may, at its option, reqUIre immediale payment in full uf all sums ~curr:d by thiS Security Instrument. However, this oplion shall not be exercised by Lender if eJtercise l!o prohihited by fedc:rallaw as oflhe date of this Security Instrument. If Lender exercises this option, Lender shall gi\le Borrower notice of acceleration. The nOlice !thall pn)\llde a pcTllld ornol Ic:ss.than 30 days from the date the notice is delivered or mailed within which Borrower mu!ool pay all sum~ !tccurcd by till!) Securily Instrument, If Borrower fllils to pay these sums prior to Ihe expiralion oflhi!'! periud, Lender may mvoke un}' refTledio pc:rmiuc:d b)' this Security Instrument without further nolice or demand on Borrower 18. Borrower'.. Riabt to Relnshlte. If Borrower meets certain condiltons. Borrower shall ha\lc the right tu have enforcement oflhis Security Instrument discontinued at any time prior lU Ihe earlier of: (a) 5 day!'. (or !ouch other pcmxJ u!> applicable laYo' ma)' specify for reinstatemenl) before sale of the Property flur'ouanlto IIn)' power of sale cuntamed 111 till!'. Security Instrument; or (b) cntry of a judgment enforcing Ihls Securlly Imtrumenl Thme CClJIdltlOll!o arc Ihut Burrower Ca) pa)"!i Lender all sums which then would be due under Ihl~ Secunl)' Instrumenl and the Note had no acceh:mlloll occurred~ (b) cures any default of any other covenants or agreemenl!'., fc) pap. all expen5l..... lIlcurn:d 1fl cnfun.:mg 11m SeeU"I>, Instrument. IOcluding. bUI not limited to. rCB\onable attnmc)'" fee., and (d) lUke..... 'UL:h llL:11I1Il llS Lender milY rca!.Onably rcqu1fe to assure that the lien of this Xcuril)' Instrumenl. Lender', nghl' 111 Ihl' Proper!) lUld Burro.....er... obhgatlon 10 VII). the sums ')CCured by this Securily In!lotrumenl ..hall cllollnuc Ulll.:hulll,ted 1 'pl1rt rl'IIl..I11lel11l'lIt b~ Borro\loer. ,hi!> Security In\lrumc=nt and the obhgatlOn!!. \ecun:d hereby ..hall rl'lllUIIl fulh L'ffC'l.'lI\l",j'" If Ih' ;lu"l'It:I:lllllll had uccurrr:d lIov."C'\'C'r. Ihl~ nghtlo rem!rolnte 'lohall oot nppl)' In Ihe l'a..c (If u(:l,:dt'rilllllll ullde~ r;HII~l'lIph.. I \ 'II I ~