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88- 106203 If Lender required mongase insurance as a condition of making the loan secured by this Security Instrument, Borrower sba\I. pay tbe premiums required to maintain tbe insurance in efl'ect until sucb time as tbe requirement for tbe in51lrance teimioalesinKCOrdance with Borrower'. and Lender'. written agreement or applicable Jaw. S. ~" Lender Dr its agent may make reasonable entries upon and inspections of tbe Propeny. Lender sball give IIOi'iiiiiiir nDtic:C al the time of or prior to an inspection specifying reasonable cause for tbe in.pection. 9. CoadeIiuuItloa. The proceeds of any award or claim fDr damages, direcl or consequential, in connection witb any condemnation or otber taking of any port of tbe propeny, or for conveyance in lieu of condemnation,. Ire bereby usiped and sba11 be paid tD Lender. In the event of I total taking of tbe Propeny, tbe proceeds sball be applied to tbe snms secured by tbis Security Instrument, wbetber or not tben due, witb any eJlcelIll paid tn Borrower. In tbe event of a panial taking of tbe Propeny, unless Borrower and Lender otherwise agree in writing, the sums secured by tbis Secnrity Instrument .hall be reduced by the amnunt of the proceeds multiplied by tbe following fraction: (a) tbe tOil' omount of the sums secured immediatdy before the taking. divided by (b) tbe fair market value of tbe Propeny immediately before tbe taking: Any balance sball be paid to Borrower. If the Propeny is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor ofl'ers to make an award nr settle a claim for damages, BorrDwer fails 10 respond to Lender witbin 30 days after tbe date tbe notice is given, Lender is authorized to collect and apply the proceeds. at its option. ejtber to restoration or replir of the Propeny or to the sums secured by tbis Security Instrument, wbetber or not then due. Unless Lender and Borrower otherwise agree in writing, any Ipplication of proceeds to principal shall not extend or postpone the due date of the mnntbly payments referred to in paragrapbs I and 2 or eblnge the amount of sucb payments. 10. Bo......,er Not Releaaed; Forbearaaee By Lender Not a Wal..r. Extension of tbe time fDr payment or modification of amonization Df the sums secured by tbis Security Instrumenl granted by Lender to any successor in inte<esl of Borrower shall not operate to release the liability of tbe original Borrower or Borrower's successors in interest. Lender sba1l not be required to commence proceedings againsl any successor in interest or refuse to extend time for payment or otherwise modify amonization of the sums secured by tbis Securily Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any fDrbearance by Lender in exercising any rigbt or remedy sball not be. waiver of Dr preclude the ellerc:ise of any right or remedy. U. S_ and AaaIpa BoumJ; Jnint ad Sinn! UabUlly; Co-Ilgnel'll. The covenants and agreements of tbis Security Instrument sbal1 bind and benefit tbe successors and assigns Df Lender and Borrower, subject tD tbe provisions of paragrapb 17. Borrower's covenants and agreements .ball be joint and several. Any Borrower wbo co-sigos this Security Instrument but does not execute tbe Note: (a) i. co-sigoing tbi. Security Instrument only to mortgage, grant and convey that Borrower'. interest in tbe Propeny under tbe tenus oftbis Securily Instrument, (b) is not person.lly obligated to pay tbe.ums secured by tbis Security Instrument; and (e) agrees tbat Lender and any otber Borrower may agree to extend. modify, forllear or make any acc:ommodatinns witb regard to tbe terms of this Security Instrument nr tbe Note witbout that Borrower'. consent. U. Lou CIIarpI, If tbe loan secured by tbi. Security Instrument is subject to a Jaw wbich sels maximum loan cbarges. and thai Jaw is linally interpreted so that the interest or otber loan cbarges collected or to be collected in connection with the loan exceed tbc permitted limits, tben: (a) any such loan charge shall be reduced by tbe amount necessary to reduce the c:Jwae to the permitted limit; and (b) any sums already collected from Borrower wbieb exceeded permitted limits will be refunded to Borrower. Lender may cboose to make this refund by reducing tbe principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a panial prepayment without any prepayment charge under tbe Note. 13. LqjlJatloa AtrectIDg Lender'. Rip'" If enactment or expiration of applicable laws bas tbe efl'ect of rendering any provision oftbe Nnte or tbis Security Instrument unenforceable according to its terms. Lender, at its Dption, may require immediate payment in full of all sums secured by tbis Securily Instrumenl and may invDke any remedies permitted by paragrapb 19. If Lender exercises tbis nption, Lender sball take the steps specified in the second paragrapb of paragrapb 17. 14. Noll... Any notice to Borrower provided for in tbis Security Instrument sball be given by delivering it or by mailing it by first class mail unless applicable Jaw requires use of anolber metbod. Tbe notice sball be directed to tbe Propeny Address or any other address Borrower designates by notice to Lender. Any notice to Lender sball be given by first cwo mail to Lender's address stated berein or any otber address Lender designates by nOlice to Borrower. Any notice provided for in this SecUl'ity Instrument .hall be deemed to have been given to Borrower Dr Lender wben given as provided in tbis paragraph. . 15. Go.eraIDa Law; SeYerab1Uty. This Security Instrument sball be governed b) federal law and tbe law of the jurisdiction in wbicb the Propeny is located. In the event tbat any provision or clause of this Security Instrumenl or the Note con1Iicts with applicable Jaw, sucb con8ict shall not afl'ect olber provisions of this Security Instrument or tbe Note wbicb can be given efl'ect without the conllicting provision. To tbis end the provisions of this Security Instrument and the Nnte are declared tD be sevMlble. 16. 1Iorrower'. Copy. Borrower shall be giv.en one conformed copy of the Nole and of this Security Instrument. 17. Tnufer or !be Property or a BeIIellclallnterelt In Borrower. If all or any part of tbe Propeny or any interest in it is sold Dr transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower i. not a natural person) without Lender's prior written consent, Lender may, at its option, require immediate payment in fuIl of all sums secured by tbi. Security Instrument. However, this option sball not be exercised by Lender if exercise is prohibiled by federa1 Jaw as of the da\e of this Security InstrumenL If Lenderexen:ises this option, Lender shall give Borrower notice Df acceleratiDn. The nOlice shall provide a period of not less than 30 days from the date the notice is delivered Dr mailed within wbicb Borrower must pay all sums secured by this Security lnItrument. If Borrower fails to pay these sums prior to lbe expiration of tbis period, Lender may invoke any remedies permitted by this Security Instrument witbout funber notice or demand on Borrower. IL Borrawer'. R1sbt to ReIaUIe. If Borrower meets certain conditions, Borrower shall bave the right 10 have enforcement of Ibis Security Instrument discontinued at any time prinr to tbe earlier nf: (a) 5 days (or sucb otber period as applicable JaWlDIlY opecify for reinstatement) before sale of the Propeny pursuant 10 any power of sale contained in this Security 1nItrumeIIt; or (b) entry Df a judgment enforcin, Ibi. Security Instrument. Those conditions are tb.t Borrower: (.) illY' Under all sum which then wDuld be due under this Security Instrumenl and the Note bad no .....er.tion ix:eurred; (b) CUJ'el any defaull Df any otber covenants or qreemen15; (c) pal" all expenses incurred in enforc:ing Ibis Security Instrument, including. but not limited to, reasonable attorneys' fees, and (d) lakes such action as Lender may ..-ably require tD usure that lhe lien of this Security Instrument, Lender's rilbts in the propeny .nd Borrower's obIiption to illY the sums secured by thi. Security Instrument sball continue unchanled. Upon reinstalement by Borrower, tbls Securily Instrument and Ibe obliplionloecured b~y .hall remain fully efl'ecliye as ifno acceleration had oa:urred. However. this riabt tD reinstale lhall not .pply in Ihe cue of acceleralion under par.graphs 13 or 17_ p;'