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88- 105489 If Lender required mortgage insuranl:c as a condition of making the loan secured by this Security Instrument, Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the insurance tcnniDllcsin Iccordance with Borrower's and Lender's wrinen agreement or applicable law. I. 11IIplICIloII. Lender or its agenl may make reasonable entries upon and inspections of t~e Propeny, Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 9. CoDcIaaaadoD. The proceeds or any award or claim for damages. direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for convcyan;:c in lieu of condemnation, arc hereby assigned and .hall be paid 10 Lender. In lbe even. of a tolBltaking of the Propeny, the proceeds shall be applied to the sums secured by lhis Security Instrument, whether or not then due, wilb any excess paid to Borrower, In the event of a parrial taking of the Propeny, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by lbe amounl of the proceed. multiplied by the following fraclion: (a) the total amount of the sums secured immediately before the taking, divided by (b) lbe fair market value of the Property immediately before the takil18. Any balance shall be paid to Borrower, If the Property is abandoned by Borrower. or if. after notice by Lender to Borrower that the condemnor olrers to make an award or settle a claim for damages. Borrower rails to 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 of the Propeny or to the sums secured by this Security Instrument. whether or not tben due. Unless Lender and Borrowl:r otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monlhly payments referred to in paragraphs] and 2 or change the amount of such payments. 10. Borrow.. Not Roleased; Forbearance By Lender Not. Wal.or. E,tension 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 ex.tend time for payment or otherwise modifY 8D1onization of the sums secured by this Scc;urity Instrument by reason of any demand made by the: original Barroweror Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall nol be B waiver of or preclude the exercise of any right or remedy. 11. Succaaon IIld AasilliUl Boullll; Jolnlllld s..eral Liability; Co-algnors. The covenants and agreements of this Security Instrument shall bind and benefit thesucccssors and assigns of Lender and Borrower, subjeclto the provisions of paragraph 17. Borrower's covenants 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 to mortgage, gmnt and convey that Borrower's interest in tbe Propeny under thetenos of this SecurilY Instrument; (b) is not personally obligated 10 pay the sums secured by this Security Instrument; and (c) agrees lhat Lender and any other Borrower may agree to eXlend, modify, forbear or make any accommodations wilh regard to the terms of this Security Instrument or the Note without that Borrower', consent. 12. LoaD CIIarps. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges. and that law i. finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan e,ceed the permiued limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose 10 make this refund by reducing the principal owed under tbe Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a parrial prepayment without any prepayment charge under lbe Note. 13. LogIaIatioD AlfoctiDl Londor'a RlaIIla. If enactment or expiralion of applicable laws has the elf""l of rendering any provision or the Note or this Security Instrument unenforceable according to its lerms, Lender, at its option, may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies permiUed by paragraph 19. JrLender exercises this option, Lender shall take lhe steps specified in the second paragrapb of paragraph 17. 14. NotieeL 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 Properly Address or any other address Borrower designates by nolice to Lender. Any notice to Lender shall be given by tint class mail to Lender's address slBted herein or any other address Lender designates by noticc to Borrower. Any notice provided for in this Security Instrument shall be deemed to havc been given to Borrower or Lender when given as provided in this paragrap~. 15, Goftl'lliDa LaW; S..orablllty. This Security Instrument shall be sovemed by federal law and the law of the jurisdiction in which the Property is located. In tbe event that any provision or clause of this Security Instrument or the Note conflicts with applicable lew, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given df'ect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower'. Copy. Borrower shall be given one conformed copy of the Nole and of this Security Instrument. 17. Tl1UIIfor of \be Properly or a BonollelallD\erost In Borro"er, If all or any pan of the Propeny or any interest in it is sold or transferred (or if B beneficial interest in Borrower is sold or transferred and Borrower is nol B natural penon) without Lender's prior written consent, Lender may, at its option, require immediate payment in futl of all sums secured by this Security Instrument. However, this option shall nol be exercised by Lender if exercise is prohibiled by federal law as of the date ofthis Security Instrumenl. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The noticc shall provide a period of no I less than 30 days from the date the notice is delivered or mailed within which Borrowcr 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. 11.1JorrowerI. RlaId to R....Ie. If Borrower m~ts certain conditions, Borrower shall have the right to ha\le enforcement of this Security Ill5trument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify faT reill5latement) before sale of thc Propeny pursuant 10 any power of sale contained in this Security Instrument; or (b) entry of a judgment enforcing this Security Inslrument. Those condilions are that Bon~wer: (a) pay. ~er all sums which then would be due under this Security Instrument and the Note had no acceleration occurred; (b) curcs any dd~ull of any other covcnants or Igreements; (c) pays all ex.pcnse~ IDcurred m enforcmg this Security Instrument, including, but not limited 10, reasonable attorneys' fees; and (d) takes such actIOn as lender may ra.JOI1&bly require to assure thai the lien of this Security Instrument. lender's nKhts ID the Property and Borrower's obliplion to ply the sums secured by thii Security Inslrument shall continue unchanKed. Upon remstatement by Borrower. this Sccunty Ins!rumenl and the obligations secured hereby shall remam fully effective a~ If no Reeclerallon had occurred. However, thi, "Chi 10 n:mslaleshall nolapply 10 the case ofaeccJeraUon under paragraph !I 13 or 17