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88- 105792 If Lender required mongage insurance 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 terminates in accordance with Borrower's and Lender's written agreement or applicable law. 8. Inspection. 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. CondemnatioD. The proceeds of any award or claim for damages. direct or consequential, in connection with any condemnation or other taking of any pan of the Property. or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In the event of a total taking of the Property. the proceeds shall be applied to the sums secured by this Security Instrument. whether or not then due. with any excess paid to Borrower. In the event of a partial taking of the PropenY, 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 fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower, If the Propcny is abandoned by Borrower, or 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 after the date the notice is given. Lender is authorized to coUcet 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 tben due. . Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or poscpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount DC such payments.. 10. Borrower Not Releued; Forbellnmce By Leoder Not. 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 Dot 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 this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interlist. Any forbearance by Lender in exercising any right or remedy shall not boa waiver of or preclude the exercise ofany right or remedy. 1L So.........,. ad AaiIlDll Boond; Joint ad Several Liability; Co-signertl. The covenants and agreements of this Security Instrument shall bind and benefit the successor> and assigns of Lender and Borrower, subject to 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 Instrumenl only to mongag.. grant and convey that Borrower's interest in the Property under the terms ofthis Security Instrument; (b) is not per.;onal1y obligated to pay the sums secuted by this Sd:urity 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. 12. Loan Cw-ps. If the loan secured by this Security Instrument is subject to a law which sets maximum Joan charges. and that law is finally interpreted so that the interest or other loan charges collected or to be collected in """"ection with the loan exceed the permitted 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 to make this refund by reduciog the principal owed under the Note or by making. direct paymcotto Borrower. If a refund reduces principal, the reduction will be treated as a partial ptepayment withoutay propaymcot eharge under the Note. 13, Lqlalatioa Alfeetln& Lender's RJPts. If enactment or expiratioo of applicable laws has the effect of rendering any provision of the Note or this Security Instrument unenforceable according 10 its terms, Lender, at its option, may .-.quire immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the secood paragrapb of paragraph 17. 14, Noti.... Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by lirn class mail unless applicable law .-.quires use of another method. The ootice 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 Iir5t class mail to Lender's addn:ss stated herein or any other address Lender designates by ootice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been giYCO to Borrower or Lender when given as provided in this paragraph. 15. GoveruiD& Law; Severahlllty, This Security Instrument shall be governed by f~erallaw and Ihelaw of the jurisdiction in which the Property is located. In the event that any provision or clause of this Securi'y Instrument or the Nott: conflicts with applicable law, such conflict shall not affect other provisions of this Security Instmment or the Notc which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to'be severable. 16. IIomIwer's Copy, Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17, TrlllSfer of the Property or . Beneficial IntereSt in Borrower. If all or any pan of the Propeny 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) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of aU sums secured by this Security mstnlment. However, this option shall not be exercised by Lender if exercise is prohibited by federa1law 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 within which Borrower must pay all sums secured by this Security InstrUmetlL If Borrower fails to pay these sums prior [0 the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument whhout further notice or demand on Borrower. 18. Borrower's JUabt to Relastate. 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 other period as applicable law may specify for reinSlatentOllt) before sale of the Property pursuant to any power of sale contained in this Securiry Instrument; or (b) entry of a judgment enforcing this Security instrument. Those conditions arc that Borrower: <It) pays Lender all sums which then would be due under this Security instrument and the Note had no acceleration occurred: (b) cures any default of any other covenants or agreements; (c) pays all e~penscs incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees; and (dl takes such action as Lender may rssonably requ.ire 10 assure that the lien of this Security instrument. Lender's nghts to the Property and Borrower's obligation [0 pay the sums secured by this Security instrument shall continue unchanged. Upon reinstatement by Borrower.thlS Security Instrument and the obligations secured hereby shall remam fully c:trectl'l/C a!o Iroo accc:ler:uion had ocC'urrr:d. Howe\.'er. Ihis nsht 10 re:inst3le shall not apply in the '1l5C of accc:lerullon under pnr:Is.T:lph!l 13 \lr 1 ":'