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88- i107030 If Lender req~: .;~ .,~..,rtgage insurance as a condition of making Ihe loa" secured by Ihis SecurilY Inslrument, Borrower sball pay ii., ;"~m,ums required to maintain thc insurance in etTect unlil such lime as Ihe requirement for the insurance lerminales in accordance with Borrower's and Lender's written agreemenl or applicable law. 8. IRlpectI"". Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notirc at the time afar prior to an inspection specifying reasonable cause for the inspection. 9. Coaclemaallon. The proceeds of any award or claim for damages, direcl or consequentia., in connection with any condemnalion or other taking of any pari of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In the :vent of a tOlal taking of the Property, the proceeds s"all be applied to the sums secured by this Securily Instrument, whether or not then due, with any excess paid 10 Borrower. In Ihe evenl of a partial laking of the Property, unless Borrower and Lender olherwise agree in writing, the sums secured by Ihis Securily Instrument shall be redueed by Ihe amounl of Ihe proceeds mulliplied by Ihe following fraclion: Ca) Ihe tolal amount of the sums secured immedialely before the taking, divided by (b) the fair market value of the Property immediately before Ihe taking. Any balance shall be paid to Borrower. If the Property is abandoned by Borrower, or if, after nOlice by Lender to Borrower Ihalthe condemnor otTers 10 make an award or sellle a claim for damages, Borrower fails to respond to Lender within 30 days afler Ihe dale the notiee is given, Lender is authorized to collect and apply Ihe proceeds, at its oplion. either to restoralion or repair ofthe Property or 10 the sums secured by this Security Instrument, whether or nOlthen due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or poslpone the due dale of the monthly payments referred 10 in paragraphs I and 2 nr change the amount of such payments. to. Borrower Not Releaaed; Forbearance By Lender Not a Waiver. EXlension of the lime for paymenl or modificalion of amortization of Ihe sums secured by Ihis Security Instrument granted by Lender to any successor in inlerest of Borrower shall not operate to release: Ihe Iiabilily oflhe original Borrower or Borrower's successors in inlerest. Lender shall not be required to commence proceedings against any successor in interesl or refu,", to exlend lime for payment or otherwise modify amortization of the sums secured by Ihis Security Instrumenl by reason of 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 exercise of any right or remedy. 11. Succeoaon and Aaslllllll Bound; Joint and Se..ra1 liability; Co-signers. The covenanls and agreements of Ihis SecurilY Inslrument shall bind and bene6t the successors and assigns of Lender and Borrower, subjecllo Ihe provisions of paragraph 17. Borrower's covenants and agreements shall bejoint and several. Any Borrower who co--signs Ihis Security Inslrumenl but does not execute the NOle: Ca} is co--signing Ihis Security Inslrumenl only to mortgage, granl and convey that Borrower's inleresl in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Insl1"ment; and (c) agrees that Lender and any olher Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Securily Instrument or the Note without that Borrower's consent. 12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sels maximum loan charges, and that law is 6nally interpreted so that the interest or olher loan charges collected or 10 be collected in connection with the loan exceed the permilled limits, Ihen: (a) any such loan charge shall be reduced by the amounl necessary to reduce the charge to the permilled limit; and (b) any sums already collected from Borrower which exceeded permitted limits wiU be refunded to Borrower. Lender may choose 10 make Ihis refund by reducing the 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 partial prepayment without any prepayment charge under the Note. 13. Legislallon Meeting Lender's Rights. If enactment or expiration of applicable laws has the effect of rendering any provision of the Note or this Security Instrument unenforceable according to its tenns, Lender. at its option, may require immediate payment in full of all sums secured by Ihis Security Instrumenl and may invoke any remedies permitted by paragraph 19. If Lender exercises this option, Lender shall take the sleps speci6ed in the second paragraph of paragraph 17. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by 6rst class mail uoless applicable law requires use of another method. The nOlice shall be directed to the Propeny Address or any other address Borrower designates by notice 10 Lender. Any notiee to Lender shall be given by 6rst class mail to Lender's address Slated herein or any other address Lender designates by noliee to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. Goyeming Law; SeYerabllIty. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conllicts witb applicable law, such conllict shall not affect other provisions "j :1:;< Security Instrument or the Note which ~.an be given effect without the conllieting provision. To this end the provisions of this Security Instrument and the Note are declared to be sevefllble. 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Inslrument. 17, Transfer of tbe Property or a Beneficial Interest in Borrower. If all or any part of Ihe 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 Lcnder~s prior written consent, Lender may, at its option. require immediate payment in full of all sums secured by this Stcurity Instrument. However, this option shall nol be e..rcised by Lender if exercise is prohibited by federal law as ofthe date ofthis Security Inslrument. If Lender exercises this option, Lender shall give Borrower notice of accc:leralion. The nOlice shall provide a period of no I less than 30 days from the dale the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails 10 pay these sums prior to the expiration of this period, Lender may invoke any remedies pennilted by Ihis Security Instrument wilhout further notice or demand on Borrower. 18. Borrower's Right to Relaatate. If Borrower meets certain conditions, Bon-ower shall have the right 10 have '-. enforcement oftbis Security Instrument discontinued at any time prior 10 the earlier of: (8) S days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant 10 any power of sale contained io this Securily Instrument; or (b) enlry of a judgment enforcing this Security Instrument. Those conditions are lhat Borrower: (a) pays Lender all sums which then would be due under Ihis Security Inslrument and the NOle had no acceleralion occurred; (b) cures any defauh of any other covenants or agreementsj (c) pays all expenses incurred in enforcing this SecurilY Instrument, including, bUI not limited to, reasonable sltomeys' fees; and Cd) takes such action as Lender may reasonably require to assure Ihal the lien of this Securily Inslrument. Lender's righlS in the Propeny and Borrower's obligation to pay Ihe sums secured by this Security Instrumenl shall conllnue unchanged. Upon reinstatement hy Bonower. (his Security Inslrumenl and the obligations secured hereby shall remain fully effective as If no acceleration had occurred. However. this right to reins.tate mall nol .pply 10 Ihe case of acceleralloo under paragruph!l 13 or 17