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88- 105947 If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower shaD pay the premiums required to maintain the insurance in effect until such time as the requirement for the insurance tenninates in accordance with Borrower's and Lender's written agreement or applicable Jaw. 8. lupectlOD. Lender Of 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 Bny award Of claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby lSSigned and shaU be paid to Lender. In the event of a total talcing 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 or 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 lIIkinS, divided by (b) lhe fair market value of the Property immediately before the lakinS. Any balance shall be paid to Bomnver. If the Property is abandoned by Borrower. or if, after notice by Lender to Borrower that the condemnor oWers 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 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 monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. 10. Borrower Not Releued; Forbearan~ By Lender Not. Waiver. Extension of the time for payment or modification of amonization 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 amonization of the sums secured by this Security Instrument by reason o(any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the excrciseof any riSht or remedy. lL Saa:eaora aad AaIips Bouad; JuiDt and 5o,eral LIability; Co-sil\Ders. The covenants and Bsrccments of this Security Inslrumenl shall bind and benefillhe succcssurs and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Borrower's covenants and agreements shalJ be joint and seyeral. Any Borrower who CQ-signs this Security Insttument but does not execute the Note: (a) is co-signing this Security Instrument only to mongagc. grant and convey that Bomnver's intercsl in the Property under the tcnns of this Security Instrument; (b) is not JlCI'Onally obtipted to pay the sums secured by this Security Instrument; and (c) asrccs that Lender and any olher Borrower may qrcc to extend, modify, forbear or make any accommodations with regard to the tenns of this Security Instrument or the Note without that Borrower's consent. 12. LolIII c::.'baraa, If the loan secured by this Security Instrument is subject to a law which sets maximum loan c:harscs. and that law is finally inlerprcted so that the interesl or other loan eharscs collected or 10 be collecled in connection with the loan exceed the permiued limits, lhen: (a) any such loan cbarse shall be reduced by lhe amount necessary 10 reduce the cbarse 10 the pcnnittcd limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded 10 Borrower. Lender may choose to make this refund by reducinS the principal owed under the Note or by makins a direcl payment 10 Bomnver. If a refund reduces principal, lhe reduction will be trealed as a partial prepaymenl withoUl any prepaymenl cbarse under the Note. 13. LqjslatIoo A1JectIq Leadcr'. Rqhll. If enaclment or expiration of applicable laws has the effect of rmderini 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 permitted by JlIU'lBI'lph 19. If Lender excn:iscs this option, Lender shill take the steps specified in the second parasraph of porasraph 17. 14-. Nodc:a. Any notice to Borrower provided for in this Seeuril)' Instrumenl shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another melhod. The notice shall be: directed 10 the Propcny Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class maitto 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 giYC'll as provided in this parapaph. 15. GoftIIIitI& Law; Snaability. This Security Instrument shall be sovcrned by federal law and the law of the juriidiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note confficts with applicable law. such conflict shall not affect other provisions of this Security Instrument or the Note which caD be given df'ec1 without the con1Iicting provision. To this end the provisions of this Security Instrument and the Notearedcclared to be severabJe. 16. IIomnrcr'II Copy. Borrower shill be Biven one conformed copy of the NUle and or this Securily InslrumenL 17. ~ of the Property or . _cIaI Intcrcsl in Borrower. If all or any pan of the Property or any mlcl'CSt 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 all sums sc::currd by thi5 Security Instrument. Howcver, this option shall not be exercised by Lender if exercise is prohibiled by federal law as oftbedate of this Security InstrumenL Ifl.a1dcr exercises this option. Lender shall give Borrower notice of acceleration. The notice shall provide a period afnot less than 30 days from the dale the notice is deliyered or mailed within which Borrower must pay all sums secured by Ibis Security lnstrumcnt.IfDorrower fails 10 pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this ~urity Instrument without funher notice or demand on Borrower. 11. Barnnrer'. RiPt to RelBtate. If Borrower meets certain conditions. Borrower shall have the right to have cnforcemeutof'this Security Instrument discontinued at any time prior to the earlier of: (a) S days (or such other period as applicable law may specify for reinu.atement) before sale of the Propeny pursuant to any power of sale contained in this Security ItlIttUIDeIIl; or (b) entJ)' of a judgment enforcing this Security Instrument Those conditions are that Borrower; (a) pays Lender all sums ...hicb then would be due under this Security Instrument and the Note had no acceleration occurn:di (b) cuns any dcfaull of any other covenants or agreements; (e) pays all expenses incurred in enforcmg Ihls Security Insuument. including. but nOI limited to. reasonable anomeys' fees; and (d) takes such Bcllon as Lender may re:uoubly Rquire to assure that tbe lien of this Security luslrumenl, Lender's rights in the Propcny and Borrower's cbliphon to pay lhe sums. secured by lhis Security Instrument shall continue unchanged. Upon relnstalement by Borrower.lhit. 5ecumy Instrument and the obliptions. secured hereby shaH rcml.m fully dfecuve as If no acceleratIOn had occurred. H~. lhl5 npulo reinstate mall not apply m the casc of accclaallon under paragraph!. 13 or 17