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88-10645S If Lender required mortgage insurance as a condition of making the lonn secured by this Securit)' Instrument, Borrower s.hnll pay the premiums required 10 maintain Ihe insurance in effect until such lime as the requirement fOf the insurance lermimlles in accordance with Borrower's and Lender's written agreement or Bpplicable 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. Condemnation. The proceeds of any awnrd or claim for damages. direcl or consequential. in connection with any condemnluion or olher laking of any pari of the Properr~:. 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 Securily [nstrument, whelher or notlhen due. with any excess paid to Borrower. In the evenl of a partial taking of the Property. unless Borrower and Lender otherwise agree in writing. the 'turns secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by Ihe following frafJion: (a) the total arr;ount of the sums secured immediately before the taking. divided by (b) Ihe fair market value oflhe Property immediately before the taking. Any balance shall be paid to Borrower. If the Propeny i!<t abandoned by Borrower. or ir. 3fter notice by Lender 10 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 collecll.lnd apply thC' proceeds. at its option. either 10 restoration or repair oCthe Property or 10 th~ sums secured bVlhis Securilv Instrument. whether or nol then due. Unless Lende~ and Borrow~r olherwlse agree in writing. any applicallOl1 of procecd!<t to principal shall not extend or postpone the due date orlhe mmllhly payments referred to in paragraphs I and 2 or change the amounl of such payments, 10. Borrower Sot Released; Forbearance By Lender Not a Waiver. Extension DC the time for payment or modificalion of amoni711llOn of the !'ium!'i 'iecured by this Security Instrumenl gran led by Lender to any "UCCI.'ssor in interest of Borrower !'ihallnot nperalc to release thr liability of the original Borrower or Borrower's successof't In inlcre~t. Lender shall nol be required 10 commence proceedings agilinsl any successor in inlerest or rduse 10 cAlcnd time Cm payment or otherwise modify amnrti7.3lion of the sums secured by Ihis Securily Instrument by rem,on of any dem3nd made by the original Borrower or Borrower'!> successors in inlerest. Any forbearam:e by Lender In exerci~ing any right or remedy shall not bea waiver ofur preclude Ihe e",erci!.e of any right or remedy. 11. SUCCe550f'5 and AssiKDS Bound; Joint and Several Liability~ Co.signers. TIll: C'o\:enant!io and agreement... of Ihis Security Instrument shall hind and henefit Ihe successors and assigns of Lender and Borrower. subJC'CI 10 the pro\'islOn!io of paragraph 17. B(lrrowcr", cnvellan'!> and agreements shall he joint and !'ie\'eral, An~' Borrower who co.signs Ihis SecurilY Instrument hut dill." nut ellecutc.' the Nole: (a) l!o co.signing this Security )m;lrument only 10 morlgage. gr:mt and con\'cy' that Borrower'!. lIIterC!oI 111 the Property under Ihe terms of Ihi!. Secunty In!olrument: (hi I... nol per">t'nal1~ nhhga1eclltl ra~ the sum!. !!ecured hy thl!t Sct;urny Iu!.trumenl: and Ie) agre~ that Lender and any tither Borrowcr maY' :'lgrL."C In c:\lcnd. modify, furbear or ma"-e any ilccummodal1on!. with regard 10 Ihe lerm!! or thiS Security In!<tlrumcnll1f Ihe Note' "1lhnut that Borrower'" CllO!tenl 12. loan Challtc!Jo If the loan !<tl.'l:ured b}' Ihi!. Security In!tlrument j, subjL.'Ct 10 a hi" "1lIch ..cl!<t ma:\lmum II'an charge!.. and thai law i... finally inlerprcled so that the II1teresl nr olher loan l.:hargl.", t'olln'lt't.! ,lr hI he colk'1:lcd III connectiun With Ihe loan ellcced the permlltcd limits. then: (a) any such loan chaq;e ,h31l he rL.oduccd h) the ;.1mounl nccL.'!>sary Iu reduce lhe charge to Ihe pcrmitted limit: and (h) any sums already collecled from Borrower which c,ceedcd permilted Iimil' will he refunded 10 Borrower. Lender may ch(l(i!!c w make tin... rcfund h~' redu..:mg rhe pnnclpalowL.-d under the Noh: or by ml.lking a direct paymenllo Borrower. Ifa refund reduces principalo Ihe rc.-duction will he tn:aled a!t a parlinl prepay'menl wilhout any prepaymenl charge under the Nole. 13. 1..eldslaUon AffcclinR Lender's Ri~ht5. If enaclment or cllpiralion of applicable laws h:t... the effect of rendering any provi!o1on of the Note or this Securily Inslrument unenforceahle according tn ih term!.. lender. at it!. option. may require immediale paymenl in full of all sums sL."Cured by Ihi!o Security Instrumenl and may in\'oke any remedies permined by paragraph I Q. If Lender exercises this option, L~ndc:r shall take lhe steps !opccifk-d in the second paragraph of paragraph 17. 14. Notices. Any 110tlc~ to Borrow~r provided for in thi!o Secunty Instrument shall be given h) deli\'c:ring il or by mailing it by fiT)I clas!t mail unlo~ apphcable law requires use of another melhod. The 1ll1tice shall b~ direcled to 1he Property Address m any other address Borrower designates by notic~ to Lender. Any 110llCe to Lender shall be given by first class mail to Lender's addres!o !tll.ued herein or any olher address lender dt."!oolgnalc.. hy nut ice to norrowcr. Any notice provided for in this Securit)' Instrumenl shall be: deemed to ha\'e been given 10 Bnrruwer or Lender when gl\'en a!t provided in this paragrapho 15. Go,erning Law; Severability, Thl:!. SL."t:urlly In~trumcnl !thaH he l!tl\eTlu:d 11) fl-denlll:lw and lhe law orth~ jurisdiction in which Ihe ProperlY i!'i located. In the event thaI an)' prmi"ion or dau"~ or IhlS Se!:lIr1t) In"tn.:ma:nt or the Note conflicts with applicable law, such conflict !<thall not affecl other pnwision!o or Ihi!. SeCUTlI) Inslrumenl or the Notc which call be given effect without the conflicling pro\'isiull. fl) thiS end Ihe pruvi"iol1" of Ihi!<t Sel."uTlt) 111..lrumcllt and Ihe Note are declared 10 be !.cverable. 16. Borrower's Copy. Borrower !<thall be given llllC conCormed copy .,fthe Ntlle ilud (lfll1l.. Securlly In"lrumenl. 17. Transfer of the Property or a Beneficial Interest In Borrower. Ir all many paTt IIf the Propert)' or any inlerest in it is sold or transferred (or if 1I. beneficial interest in Burrower i!. snld or tran..reffL.-d and BnrfO\\'Cr IS 110t a nalUrnl person) without Lender's prior written t;on:!.en1. lender mny. at lis opllUIl. require nnlllcdialc payment 111 fullnf all !tum!! secured by Ihis Security Inslrument. However. 1his opt inn shull nnl be excle1\ed b) Lcndlor If c:\erl'I\C i!o I"rt\luhilCd by federullaw as of the datcofthis Security 111slrumen1. If Lender exercise. this optIOn. Lender shan give Borrower nollce of acceleratlul\. Tile I\(lllt'e ...hall pHI' idc a period of no I less thon 30du)'li Crom Ihedate Ihe notice b. delivered or maded within which Bl1rru....er 11111..1 pay I.lll..um.. ..l.'l:urcd b)' thi!lo Security Instrument. If Borrower fails 10 pa.y thL."SC' !oums pnur 10 the ex-piratiulI nflhl" pCflllt1. Lcnder lIIay IIl\tlkc all) remedies permitted by thisSecurit)' Instrument withoul furthcr notice or demand Onlltlrrn.....CI 18. Borrower.! Right to Reinstate. If Borrowcr meets certain conditllm!o. Borrllwer ..hall h,l\ e I he right ttI ha\'e enforcement oflhili Security Inslrument discontinued III any time prior hllhe earlier of: (u) ~,t!a~'" (lIT ..uch ulher period as applicable law mu)" specify for rcill!<ttulclIlenl) before sale of Ihe Propert)' purMlanl lu any ruwer llf ..all.' Ctllll;Ulled In th" Securit). Instrument; or (b. enlr) or a jud~mel1t enforcing Ihis Securil)' lll!ttrUTllt.'nl T1Hl\c t:lmdlll<lIl... arc lhat IJOCftlWCr (a) pa)'s Lender all sum!. which then would be tluc under this St.'Curil)' Imtrumelll and Ihe Nute had nn acccleralllln occurred; (b) cures an)' default of any uther covcnant!. or agreements; (c) pay.. ':111 C,,"PCII"C" Illcurred 111 cnfnrl'lIIg thl" Sccuril) Imtrument. mcluding, bUl nut hmited 10. rca!'oonable atttlrnc)'!<t' ree.... and (dll.:lk.c.. ..III:h a..:111l1l a.. I.emh:r may reu!lullabh require 10 ll!o..ure Ihl1l lhe Iicll llf thi!. Sc.'Cunl) Imtrurnenl, Lemler'.. rlghl" 111 111l: l)fllpl:ll~ allll BllrnlYlCro" uhltgallllll 10 pa) lhc "um~ ..ccured h) Ilus SCl'UTlt)" In..trumenl ..hull \'lllllllllll.' UIKh,.lIglotl I 'pllll Il0111..I;lI\'IIIl.."lIl h~ Unrru"cr. Ih" Sl'I.'Ufll) Im,lrullIelll undlhe lIhhguIIIIII" ..el'urnl hcrch) ..h;11I rem,lll' 11I11~ l'Il'\'~ IIH' .... II Ih' ,h~dl'[;llh'll h,ld ll\."t'urn:d 1111"" C\ ('f , 1111" ng,hllo relll..llllc ,hllIlIlOI urr1y miltI.' ":.1"1.' llf i1l~'loIcTa(IlIl' 1I111kl PM'II!I.I!,I" . I <'I [-