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88- 105133 If Lender required mortgBge insurance as a condition of making the loan secured by this Security Inatrum.ent, 8orrowc;r shall pay the premiums required 10 maintain the insurance in efl'ect until such time 85 the requirement for the insurance tCm1i~.tcs: in accordance with Borrower's and Lender's written agreement or applicable law. 8. I~~D. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shAll give Borrower notice 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 other taking of Bny part of the Property. or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender, In Ihe evenl of a lotal wing of Ihe Propeny. Ihe proceeds shall be applied to Ihe sums secured by Ihis Security Instrument. whether or not then due, wilh my excess paid to Borrower, In the evenl of a panial taking of Ihe Property. WlI... Borrower md Lender otherwise agree in writing, the sums secured by Ihis SecurilY Inslrumenl shall be reduced by Ihe amounl of the proceeds multiplied by Ihe following fraction: (a) the total amounl of the sums secured immediately before Ihe taking, divided by (b) the fair markel value of the Propeny immedialely beforelhe taking. Any balance shall be paid 10 Borrower. If the Property is abandoned by Borrower. or if. after notice by Lender to Borrower that the condemnor offers 10 make an award or settle B claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized 10 collect and apply the proceeds. at its option. either to restoration 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 not extend or poslponelhe doe dale of the monthly paymenlS referred 10 in paragraphs I and 2 or change Ihe amount of such payments, 10. Borro"er Not Released; Forbeanmee By Lender Nol a Waiver. Extension of the time for payment or modification of amortization 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 origir.al Borrower or Borrower's successors in interest. Lender shall not be: required to commence proceedings against any SUL .::essor in interest or refuse to extend time for payment or otherwise modify amonization of the sums secured by this Scc....-:ty Instrument by reason of any demand made by the original Borrower or Borrowefs 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. Suceessors 8IId AsaIIlD5 BoDlld; Joinl 8IId Several Liability; Co-signers, The covenanls and agreemenlS of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower. subject to the provisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is cQoosigning this Security Instrument only to mongage, grant and convey that Borrower's interest in the Propeny under the tenus or this Security Instrumentj (b) i5 not personally obligated to pay the sums secured by Ihis Securily Inslrument; and (c) agrees thaI Lender and any other Borrower may agree to eXlend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 12a LoaD Charaes. If the loan secured by tbis Security Instrument is subject to a law which sets maximum loan charges, and tbat law is finally interpreted so tbat the interest or other loan cbarges collected or to be collected in connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessalY 10 reduce the charge 10 Ihe pennilled Iimil; and (b) any sums already collecled from Borrower which exceeded pennitled limits will be refunded to Borrower. Lender mllY choose to make this refund by reducing the principal owed under the Note orby making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a ""rlial prepaymenl without any prepayment charge under Ihe Note. 13. LegIslation Affecting Lender's Righta. If enactment or expiration of applieable laws has the eWect of rendering any provision oftbe Note or this Security Instrument unenforceable according to its terms, Lender, at its option, may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies pennilled by paragraph 19. If Lender exercises this option. Lender shall take the steps specified in the second paragraph of paragraph 17, 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Propeny Address or any other address Borrower designates by notiee 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 notice provided for in this Security Instrument shaH be deemed to bave been given to Borrower or Lender when given as provided in this paragraph. ' 15. Go"erning Law; Senrability. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts witb applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note wbich can be given effect witbout tbe conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Tf'llJlSfer of the Property or B Benefichillnterest in Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) witbout Lender's prior wrillen consent. Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall DOl be exercised by Lender if exercise is prohibited by federal law as of the date oflhis SecurilY InslrumenL If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days 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 J'U\y tbese sums prior to the expiration of this perioo. Lender may invoke any remedies pc:nnillcd by this Security Instrument without furthe!' notice or demand on Borrower. 18. Bono.er's Riabt to Relastate. If Borrower meets certain conditions, Borrower shall have the right to have enforceme:1t of this Security Instrument discontinued at any time prior to the earlier of: (8) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument; or (b) entry of B judgment enforcing this Security Instrument. Those conditions arc that Borrower: (a) pays Lender aU sums which then would be due under this Security Instrument and the Note had no acceleration occurredj (b) cures any default of any other covenants or agreementsj (c) pays all expenses incurred in enforcing this Security Instrument.. including. but not limited to. reasonable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument. Lender's nghts in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrumen! and the obliptions secured hereby shall remain fuJly effective as if no acceleration hod occurred. However. this f",ht to reinstale sh.1l not apply 10 the casC' of accelerauon under paragraphs IJ or 17.