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S8- 106717 II Lender required mDrt...c insurance u a ,...ondltlon or making the lOin HCured by this Security In.trument. Borrower sholl pay the premiums required to mslntaln Ihe lnluranceln ell'ecl until such time al the requirement ror Ihe insurance tcnnin8tCS in accordance with Borrower', and Lender's written agreement or applicable law. 8. lupectlon. Lender or its atcol may make rC'asonable entries upon and inspections of the Property. Lender shall sive Borrower notice at the time of Of prior to an inspection speclfyine reasonable cause for the inspection. !t Condemn.Uon. The proceeds of any award or claim for damages, direct or conscquenliBlt in connection with any condemnation or other laldng of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid 10 Lender, In the event of a lotallaking 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 Property, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount or the proceeds multiplied by the rollowing rraction: (a) the total amount or the sums secured immedietely berorethe taking, divided by (b) the rair market value orthe Property immediately berorc the taking. Any balsnce shall be paid to Borrower. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor ofl'crs to make an award or scUle 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 restor ation 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 or proceeds 10 principal shall not ealend or postpone the due date Dr the monthly payments rererred to in paragraphs I and 2 or changelhe amount or such payments. 10, Borrower Not Released; Forbearance By Lender Not a WaI.er. Extension or the time for paymenl 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 Iiabilily of the original Borrower or Borrower's successors in interesL Lender shaU not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modiry lllDortization orthe sums secured by this Security Inslrument by reason ohny demand made by the original Borrower or Borrower's successors in interest Any forbearance by Lender in cxercising any right or remedy shall not bc a waiver of or preclude the exercise of any right or remedy. 11. SUccelSOnl and Assigns Bouad; Joint and Soy.ral Uablllty; CcHIIIlD..... The covenents and agreements or this Security Inslrument shall bind and beneftl the successors aud assigns of Lender and Borrower. subject to the provisions of paragraph 17. Borrower's covcnants and agreements shall be joint and scveral. Any Borrower who co--signs this Security Instrument but does not execute the Note: Ca) is co-signing this Security Instrument only to mortgage. grant and convey that Borrower.s interest in the Propcny under the terms of this Security Instrumentj (b) is not personally obligated to pay the sums secured by this Security Instrumentj and ee) 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. 1%. Loan ChII'll'" Irthe loan secured by this Security Instrument is subject to e law which sets llIlIllimum loan charges. and that law is linelly ioterpreted so thet Ihe interest or other loan charges collected or to be collected in connection with the loan exceed Ihe permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the pennitted limit: and (b) any sums aln:ady collected rrom Borrower which eaceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Noto or by making a direct payment 10 Borrower. IT a refund reduces principal,lhe reduction will be treated as a partial prepayment without any prepayment charge under the Not~ 13. Leglslatioa Alfecting Lender'l Rights, If enactment or expiration of epplicable laws has the effect or 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 aU sums secured by this Security Instrument and may invoke any remedies pennined by paragraph 19. Iflender exercises this option, Lender shall1ilke the steps specified in the second paragraph or paragraph 17. 14. Notices. Any notice to Borrower provided far in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice 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 first class man to Lender's address stated herein or any other addrcss Lender designates by notice;o Borrower. Any notice provided for in this Security Instrument shall be deemed to bave been given to Borrower or Lender when given as provided in this paragraph. IS. Go.eming LaW; Severability. This Securily Instrument shall be governed by redcrallaw and Ihe law or the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law. such conRict shall not affect other provisions of tbis Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note arc declared to be severable. 16. Borro"er'l Copy. Borrower shall be given one confonned copy ohhe Note ond orlhis Security InstrumenL 17. TTID5fer of the Property or a Beneficial Iaterest in Borro"er. Ir all or any part of the Property or ony 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 all sums secured by this Security InstrumenL However. this option shall not be e'\ercised by Lender if exercise is prohibited by federal law lIS of the date oflhis Security InstrumenL IfLcndcr 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 maned within which Borrower must pay 811 sums secured by this Security Instrument If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. lB. Borrower'. Ript 10 Reiutate. If Borrower meets cenain 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 Jaw may specify for reinstatement) before sale or the Property pursuant to any power of sale contained in this Security Ins.trumcnt; or (b) entry ofajudgment enforcing this Security Instrument. Those conditions are that Borrower: Ca) pays Lender aU sums which tben would be due under tbis Security Instrument and the Nole had no acceleration occurred; (b) CUJ'5,any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security ln5trument.. includin& but not limited to, reasonable attomeys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lender', nghts in Ihe Property and Borrower's oblicltion to pay the sums secured by this Security Instrument shall conlinue unchanged. Upon reinslatement by Borrower, this Security Instrument and the obligation, secured hereby ,han remain fully dl'cctive B.) if no acceleralion had occurred, However, Ihis right to reinstate shan Dot apply in the case ohcccleraunn under paragraph!. 13 or 17