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~ If Lender required manglge insurance as B condition of making the loan secured by this Security Instrument. t:a Borrowu.shall pay l~C'.prem.iu~ required to maintain the insurance in effect until such time: as the requirement for the: L.l.... insurancctcrmin&I.Jii.ccoi~iice wilhlklrTo'Ncrts and Lender's written Bgrl:Cmc:nt or applicable law. ~ ~ gr .. 1.....tl.o&l.Lend<:o'" il. agent may make reuonable entries upon and in.pectiDn. of the Property. Lender~ S shall give BoiTO~er notice al the time of or prior to an inspection specifying reasonable cause for the: inspection. _-: >< 1 9. CoadelllaatiOD. The proceeds of any award or claim for damages. direct or consequential. in connection with ~ -. g ::: any condemnation or other taking of any part of the Property. or for conveyance: in lieu of condemnation, are hereby'.': ..:.~ ~ assigned and shall be paid to Lender. - '3 In the event ora total taking of the Property, the proceeds shall be applied to the sums secured by thi. Security Instrument, whether or not then due, with any excess paid to Borrower, In the event of a partial taking of the Property. unless Borrower and Lender otherwise agree in writing. the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the rair market value of the Property immediately before the taking, Any balance shall be paid to Borrower. If the Property is .1bcndoned b~' Borrower. or if. after notice by Lender to Borrower that the condemnor offers to make an award or KUle 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 its option. either to restoration or repair of the Property or to the swm 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 nOI extend or postpone the due date orlhc monthly payments referred to in paragraphs 1 Bnd 2 or chanEe the amount of such payments. 10. Borrower NOI Releaed; Forbearauce 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 secured by thi~ Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbeamnce by Lender in exercising Bny right or remedy shall not be a waiver of or preclude the ea:ercise of any right or remedy. 11. S_n aad AlaI.... Bouml; Joint and S..eral Uabillty; Co-ugnen. The covenants and agreements 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 shalJ be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is CQ-signing this Security Instrument only to mongage. grant and convey thai Borrower's interest in the Property under the lerms 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 wilh regard to the tenns of this Security Instrument or the Note without that Borrower's consent. 12. Lou CIaups. Ir the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and lhat law is finally interpreted 10 that the interest or other loan eharges collected or 10 be collected in connection with the Joan exceed the pennitted lil'liu. then: (a) Bny suc" loan charge shall be rerluced hy the' amount necessary to reduce the charae to the pemuUed limit; and (b) any sums already collecled from Borrower which exceeded penniued limits win be refundt.d to Borrower. Lender may choose to make this refund by reducing the principal owed under tbe Note or by making a direct payment to Borrower. Ir a refund reduces principal, the reduction will be treated as a partial prepaymctu without any prepayment charge under the Note. l3, LqilIatlon AlfeetiDI Lender'. R1l1bu. If enactment or expiration of' applicable laws has the elfect of 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 permiued by paragraph 19, If Lender e.ercises this option. Lender shall take the Sleps 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 apphcable law requires use of another method. The nolice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by fint 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 shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. Go,ernlq LaW; S..enbillty. ThIs Security Instrument shall be governed by federal law snd 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 confticts with applicable law, such conflict shall not aWect 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 Instrument and th~ Note are declared to be severable, 16. Borrower'. Cop)'. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Tnaafer of the Property or . BeneOclal Interest 10 Borrower. If all or any part of the Property Dr any interut in it is sold or tran&f'errtd (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior wnllen consent, Lender may. at its option, require immalilile payment in ruu or AU sums 5C:C'.Jred by this Security Instrument. However. this option shall not be exercised by Lender if exercise is prohibited by federal la.... IS of the date of thi. Security In"rument. If Lender uerci5eS 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 sums secured by ~hlS Security Instrument. If Borrower fails to pay these sums pnor to the expiration oflhis period. lender may invoke any remedies permitted by tbis Security Instrument without further notice or demand on Borrower. II. Burrower'. Ript to Relatate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such mher period M applicable law may specify for reinstatement) befon: sale of the Property pursuanllo any power of sale ~Lmtajned in Ihis Security Instrument; or (b) entry of a judsmenl enforcinl this Security Instrumenl. Those conditions are Ihal Borrower. (a) pII)'1Lmder an sums which then would be due under this Seeunty Instrument and Ihe Nole had no acceleral10n occurred; (b) cure any default of any other covenants or Igreements; (c) pays all expenses Incurred In enforcmg thiS Secunt)' Instrument. mcludlnl. but not limited to, reasonable 1!I1Iomeys' fees; and (d) takes ..uch aellon as lender may n:uonably require tQ UlUre thai the lien of this Seeunly Instrument, Lender's nghts m the Propcrt)' and Borrower's obbpnon to PO), the ,urns '!tCCured by thu, Sec:urity In'trumenl shaJl conlmue unchantted Up4.ll1 reln"tatemenl by 8o"01IIcr. thn. Stcunt)' lrunumcnl and the obligations. secured hereby shall remain fully etr<<t.\'e as If Iltl accelcrallnn hall nccurn:d Ha.c\'C'f.lhl!l nl,hllo rcm".U:lhllll n01 apply In Ihe caK' of accelcrauun under paragraph, I J m Ii 88-105516