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88_105241 If Lender required mons.se insurance as a condition of making the loan secured by this Security Instrument, BorroW~' ~1J. P!'~ the premium. required to maintain the in.urance in elfecl until .uch time.. the requirement for the insurance termmatCi in ai:c:iiroaRce will! Borrower's and Lender'. wrillen agreement or applicable law, 8. IDspecdoa. Lender or its Iisent may make reasonable entries upon and inspections of the Property. Lender shall give Bo~er notice at the time of or prior to an inspection specifying reasonable cause for the in.pection. 9. CoaulllUtion." Th.proceed. of any award or claim for damages, direct or coa""luential, in connection with any condemnation or other taking of any part of the Propeny. or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. Ia the event of a total'taking of the Property, the proceeds shall be applied to the .ums secured by this Security Instrument, whether or not then due. with any excess paid to Borrower. In the event of a penial taking of the Property, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument .hall be reduced by the amount of tho proceeds multiplied by the following fraction: (althe total amount of the .ums secured immediately before the taking. divided by (b) the fair market value of the Property immediately before the taking, Any halance shall be paid to Borrower. Iftbe Property is abandoned by Borrower. Of if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days aftcr the dalc the notice is given, Lenderisauthorized to 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 postpone the due date of the montbly payments referred to in paragraphs I and 2 or change the amount of .uch 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 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 not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums sec'U'ed by this Security Instrument by reason of any demand made by the original Borrower or Borrowt:r's successors in intel. '1t. 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. Su_ra and AulplS Bound; Joint and Senrai IJabillty; Co-signe... The covenants and agreements of this Security Instrument shall bind and benefit the succeosors and ..signs of Lender and Borrower, subject to the provisions of paragraph 17. Borrower's coveoants and agreements shall bejoint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument only 10 mongoge, grant and convey that Borrower's interest in the Propeny under the terms of this Security Instrument; (b) is not penonallyobligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any olher Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan cbarges. and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed the permilled limits, then: (a) any such loan charge shall be reduced by the amount necessary 10 reduce the charge to the permilled limit; and (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 making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated.. a paniaI prepayment without any prepayment charge under the NOle. 13. Legillatioa Alfeetlng Lender'. Rfghl:i. If enactment or expiration of applicable laws h.. the elfect of rendering BIlY provision of the Notc or this Security Instrument unenforceable according to its tenns. Lender, at its option, may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies permined 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 Property Address or any other address Borrower designates by notice to Lender. Any notice 10 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 Instrumenl shall be deemed to have beeo given to Borrower or Lender when given.. provided in this paragraph. 15. GanmiDI LaW; Senrability. This Security Instrument shall be governed by federal law and the law of the jurisdiction in whicb the Property is located. In the event thaI any provision or clause of this Securily Instrumenl or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrumenl 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 InstrumenL 17. Transfer of the Property or a Benellcial1nterest in Borrower. If all or any pan of the Propeny or any interesl in h is sold or lransferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option, rtquire immediate payment in full of all sums secured by this Security Instrument. However, this option shall nol be exercised by Lender if exercise is prohibited by fedcra1law as of the date of this Security Instrument. 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 \c. ithin which Borrower must pay aU sums secured by this Security Instrument. If Borrower fails to pay these sums prior (0 the expiration of this period, Lender may invoke any remedies pcnnincd by this Security Instrument without further notice or demand on Borrower. 18. Bonvwer's RiPt to Relusmte. If Borrower meets cenain conditions, Borrower shall have the righlto have enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatCD1enl) before sale of the Property pursuant to any power of sale contained in this Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: . (a) pays Lender all sums which then would be due under this Security Instrument and the Note had no acceJeration occurred; (b) cures any default of any other covenants or agreements; (e) pays all expenses incurred in enforcing this Security Instrument, inc:luding, but not limited to, reasonable attorneys' fccs; and Cd) takes such action as Lender may reasonably require to assure that the Hen of this Security Instrumenl. Lender's rights 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 Instrument and the obligations secured hereby shall remain fully effcclive as if no acceleralloo had occurred. However. this right to reinstate shall not apply in the case of acceleralion under paragraphs 13 or 17.