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88- 105275 If Lender required mongage insurance as a condition or making lhe loon secured by lhis Security Inslrumenl, Borrower shall pay the premiums required to maintain the insurance in elfecl until such lime as the requirement for the insurance lennin.les in accordance with Borrower's Bnd Lender's written agreement or applicable law. 8, IIIIpOCtiOD. Lender or its agent may make reasonable entries upon snd inspections or the Propeny, Lender shall give Borrower notice allhe lime or or prior to an inspection specifying reasonsble cause ror the inspection, 9. CoadeDlDltlon. The proceeds or any award or claim for domages, direct or consequential, in connection with any condemnstion or other laking of any pan or the Propeny, or for con.eyonce in lieu of condemnalion, are hereby assigned and shall he paid to Lender. In the e.ent of a lotallaking of the Propeny, the proceeds shan he applied to the sums secured by this Security Instrument, whether or notlhen due, with any excess paid to Borrower, In the e.ent or 0 portial taking of the Propeny, unless Borrower and Lender otherwise oaree In wrillng, the sums secured hy this Security Instrument shall he redueed by the amount of Ihe proceeds mulllplied by Ihe fonowing rraction: (a) the totol omount of the sums secured immediately before the taking, divided by (b) Ihe rair market value of the Properly immediately herore the taking, Any balance shall he paid to Borrower, If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor ofl'~rs .to make an award or settle a claim for damages. Borrower fails [0 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 to restoration or repair oflhc Property or to the sums secured by this Security Instrument. whether or not then due. . Unless Lender and Borrower olherwise oaree in writing, any spplication or proceeds to principal sholl not eXlend or postpone the due date ofthe monthly paymenlS referred 10 in paragraphs I and 2 or change the amount of such paymenls. 10. Borrower Not Released; Forbearance 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 !iobility orthe original Borrower or Borrower's successors in interest. Lender shaU not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modiry amonizallon oflhe sums secured by this Security Instrument by reason or any demond made by the origina) Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not hea wai.er of or preclude the exercise of any right or remedy. JJ. Sueceaon ODd AaiIlDB BoUDd; Joint ODd S..erai U.bility; Co-sIgners. The covenants and agreements of this Security Instrumenl shall bind ond benefit thesuceessors and ossigns of Lender and Borrower, suhject to lhe pro.isions or paragraph 17, Borrower's covenants and agreements sholl hejointand several. Any Borrower who co-signs this Security Instrumenl bUl does not execute the NOIe: (8) is co-signing tbis Security Instrument only to mortgage, grant and convey that BolT()wer's 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 that Lender and any other 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. U. Loon CMrges. rr lhe loon secured by this Security Instrument is subject to 0 law which sets maximum loon charges, and that law is finally interpreted so that the interest or olher loan charges conecled or to he conected in connecllon with the loan exceed the permilled limilS, lhen: (a) any such loan charge shall he reduced by the amount necessary to reduce the charge to the permilled limit; and (b) any sums already collected from Borrower which exceeded permitted limits will he refunded to Borrower, Lender may choose to make this refund by reducing lhc principal owed under the Note or by making a direct payment to Borrower. rr 0 refund reduces principal, the reduction will he treated as a partial prepayment without any prepoyment charge under the Note. 13. Legislation AffectiDg Lender's Rights. rr enactment or expIration or applicable laws has the elfect or rendering any provision of the 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 permilled by paragrapb 19. IrLender exercises lhis oplion, Lender sholl lake the steps specified in the second paragraph of paragraph 17. 14~ Notices. Any notice to Borrower provided for in this Security Instrument shaH be given by delivering it or by mailing it by first c.... mail unless applicable law requires use or another method. The notice shall he directed to the Property Address or any other address Borrower designates by notice to 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 10 Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this parograph. 15. GoYeming Law; Snerablllty. This Security Instrument shall he governed by rederallaw and the law of the jurisdiction in which the Propeny is located. In the evenl that any provision or clause of this Security Instrument or the Note eonllicts with applicable law. such conftict shall not affect other provisions or this Securily Instrument or the NOle which can be given df'ect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared 10 he severable. 16. Borrower's Copy~ Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17.. Tnmsfer of the Property or a Beneficla.l Interest 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 nalUraJ person) withoUl Lender's prior wrillen consen~ Lender may, 01 its option. require immediole payment in run or all sums secured by this Security InstrumenL However, this option shall not he exercised hy Lender ir exercise is prohibited by federa1law os oftbe date orthis Security InstrumenL If Lender exercises this option, Lender sbalJ give Borrower notice of acceleration. The notice shall provide a period of Dot less than 30days from the date the notice is ddivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period. Lender may invoke any remedies permitted by this Security Instrument without funher notice or demand on Borrower. 18. ~I JUabllo RdD5late. If Borrower meets certain conditions, Borrower shaH have the right 10 ha\'c enforcanent orthis Security Instrument discontinued at any time prior to the earlier of: (a) S days (or such other period a!. applicable law may specify for reinstatement) before sale of the Property pursuant to any power or sale contained in Ihis Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are Ihat Borrower; (a) pays Lender all 5u..~ which then would be due under this Security Instrument and the Norc had no acceleration occum:d; (b) cures any default of any olher covenants or agreements; (c) pays all expenses Incurred in enforCing lhl~ Security Instrument.. including. but not limited to. reasonable attorneys' fees; and Cd) takes such acllon a~ Lender may reasonably require 10 assure that the lien of this Security Instrument, Lender's nghts in the Property and Dorrower"r. obIip.tion 10 pay the sums secured by this Security Instrument s.hall contlDue unchanged. Upon rem~talemem b~ Bom:nr.rcr, this Security Instrument and tbe obligations secured hereby shall remam fully etrecll~'C a\ Ir no accclerauon had occurred. However.tbis rigbt to reinstate shall nOI apply In the case of acceleration under p&nagraph!l 13 Of 17