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87- 101198~ If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. ik g. Inspection. Lender or its agent may make reasonable entries upon and ins shall give Borrower notice at the time of or nor to an ins pot use for t e i the Property. Lender F inspection specifying reasonable cause for the inspection. 4. Condemnation. The proceeds of any award or claim for damages, director consequential. in connection with anv condemnation or other taking of any part of the Property, 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 Security Instrument, whether or not then due. with anv 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 of the proceeds multiplied by the following fraction: (a) the total amount of the sutras secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower. If the Property is abandoned by Borrower, or if, after notice by Lender to 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 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. anv application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of such payments 10. Borrower Not Released, Forbearance By Leeds \ot a Waiver. Extension of the time for payment 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 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 amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successor, 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 rem dy, II. Successors and Assigns Bound, Joint acrd Several Liaba its. Co- srgmers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. Arry Borrower who co -signs this Security Instrument but does riot execute the Note: (a) is co- signing this Securnty Instrument Only to mortgage, grant and cm cv that Borrower's interest in the Property under the terms of this Securrv- lnsinmtent: (b) s not personally obligated to pay the sums secured by this Securty Instrument: and (c) agrees that Lender and any other Borrower may agree to exten& modify, forbear or make any accommodations with regard to the terms of this security Instrument or the Vote without that Borrower's consent. 11. Loan Charges, If the loan secured by this Secunty Instrument is sub ect to a law- which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed the permitted limit& then: lal any such kart charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (h) any surm already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Vote or by making a direct payment to Borrower_ 1f a refund reduces principal. the reduction will be treated as a partial prepayment without any prepayment charge under file Note_ 13. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has the elect of rendering any provision of the Note or this secunty Instrument unenforceable according to its terms. Lender. at its option. may require immediate payment in full of all sumac secured by this Secunty Instrument and may invoke anv remedies pagira�bv paragraph 14. If Leader exercises this option. Linder shall take the steps specified in the second paragraph of 14. Notices. Any notice to Borrower provided for in this Securiry Instrument shall be given by delivering it Orin 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 mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Secunty instrument shall he deemed to have been given to Borrower o: Lender when given as provided in this paragraph. 15. Governing Law, Severability. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Propenv is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the lore which can be given effect without the conflicting provision. To this end the prov-isionsofthis Security Instrument grid the Note are declared to be severable. 15. Borrower's Copy. Borrower shall be given ane conformed copy of the dote and of this Secunty Instrument. 1'. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Propene 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 Lender's prior written consent. Lender may. at its option, require immediate payment in full of all sums secured by this Serum} Instrument. However, this option shall not be exetcised by Lender if exercise is prohibited by federal law as of the date of this Sccuriiv Instrument. — - _•• *_. zt =' stlall give rorrower notice ofacceleration. The notice shall pro, idea period of not less than 30 days from the date the notice is delivered or marled within which irrower must pay all sums secured be this Security Instrument If Borrower fails to pay these sums prior to the expiration of this period, lender may invoke an remedies permitted by this Security Instrument without further notice or demand on Borrower. v JR. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of ibis Securit} Instrument discontinued at any time prior to the earlier of (a) 5 days Or such other period as applicable law may specify nix reinstatement) before sale of the Property pursuant to any power of sale contained in this Stearn) Instrument; Or (b) entry of a judgment enforcing this Security instrument Those cu er it arc that lixrower lr then ws,uiu oc due under ibis secunry instrument and the Note had no occurred, (h) cures any default of any other covenants or agreements; ti) all e -v aorcingto, Sa:unty Instrument including, but not limited tic, reasonable attorneys' ices and tell key sex }uact�inttasrlxnd� €nay reasonahl} re4urre to assure That the lien if this Security instrument, Lender's rights un the Properiv and H,xri -Aer'1 ohhgah,in to p,r} 'tic sums secured by this Security Instrument shall cuntunre tine hanged. t'r, n reinstatement hs 1i rr,iwer 11111 srcurn} ltistrunient .yid the ohhgauuns secured hcrcb% shall remaui full} efrectnsc as if n,+acceleranon ii.id occurred Hit -c,er, this right to renistate rliall nit apply ui the caw lit aree1cran. i under par.tgrarhl 1 t,.r I' i f4 i