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87°- 101242 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. 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. 4. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any 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 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 of the proceeds multiplied by the following fraction: (a) the total amount of the sums 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, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 an.'. 2 or change the amount of such payments. 10. Borrower Not Released; Forbearance By Lender Not a Raiser. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor to interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in intere r. 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 dtrnand n-ade by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising arty r igh *. or remedy shall not be a waiver of or preclude the exercise of any right or remedy_ 11. Successors and Assigns Bound; Joint and Several Liability; Co- signers. The covenants and agreements of this Security Instrument shalt bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions ofparagraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage. gran: and comes that Borrower's interest is the Property unde• the terms of this Security Instrument, (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Leader and any other Borrower may agree to externs. - modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Neste without that Borrower's consent. 12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges. and that law is finally interpreted so that the interest or other loan charzew collected or to be collected to connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any s s um 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 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. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has the yfect of rendering any provision of th= Note or this Security Instrument unenforceable :recording to its terms. Lender, at its option, � may require immediate payment m full cif all sums secured by this Security Instrument and may invoice any remedies permitted by paragraph 19. If Lender exercises this option. Lender shall take the stele specified in the secot � paragraph of :,. paragraph 17. 14, Notices. Any notice to Borrower provided for it-, this Security Instrument shall be given by dehvenng it eu I*v mailing it by first class mail unless applicable law requires use of another mctixrd. The notice shall be =�arecred to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be elver; b% ratt first class ail to Lender's address stated herein or any other address Lender designates by notice to Bor. o %cr Any notice provided for in this Security I nstrument shall be deemed to have been given to Px vrrower or Lender %her: ei- rrr as provided in this paragravh. 15. Governing Law; Severability. This Securty Instrument shall be governed by federal la% and ttre iaw of the jurisdiction in which the Property is iocated. in the event iirai aa.y r' Otit;'e -ter C13USC ufthis Security fns :rument or the Note conflicts with applicable law, such conflict shall not affect other of this Security Instrument provisions or the Note which can be given effect without the conflicting provision. To this end the provisions of this Securitt Instrument and the Note are declared to be severable 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Se'_n::ty Instrument. 17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Proper; or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower s n of a natural person) without Lender's prior w ritten consent. Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exeicisLd b% Lender if exercise is prohibited by federal law asofthe date o fthis Security Instrument. if Lender exercises this option, Lender shall give Borrower notice of acceleration- The notice shall pro% ide a period of not less than 10 days from the date the notice is delivered or mailed within which Borrower must pay all sums spur ed by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this Lender n:ay invoke period. am remedies permitted by this Security Instrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. if Borrower meets certain conditions, Borrower shall have the right tc have enforcemeni of this Security Instrument discontinued at any time prior to the earlier of (a) 5 days (or such other (xriod as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of save contained in this Security Instrument: or (b) entry of a judgment enforcing Security this instrument Thou conditions are that Borrower. (a) pays Lender all sums which then would be due under this Security instrument and the Note had no acceleration occurred, (h) cures any default of any other covenants ,it agreements. (c) pans all expenses incurred ui enforcing this Security instrument, induding, but not limited to, reasonable attorneys firs, and tell takes such action as Lender nias reasonabi) require io assure that the hen of this Security Instrument. Lender's nghts ii, The Propert. and Borrower's Obiigatt•rri to - puy the wins secured by this Sctiurity Instrument ,hall cor,u®ur uncharged b'pou rcinsuriemrn[ by llorrowcr. this sccurtry lnstrurnent.uul the nhligations secured herehv shrill rrniaiii (,iJty ctfaarvc as it no arcrlcratuiri had ,x. urged 1L =w „-•era, this right io ieuisiate shall nor apply m the case tit,I uLel, ralnm undstt I1 m I- v