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87-101269 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 ir 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. 9. Condemnation. The proceeds of any award or claim for damages. director 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 he paid to Lender. In the event of a total taking o f t he 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: ta) 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 thesums secured by this Security Instrument. wheiheror 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 and 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 in interest of Borrower shall not operate to release the liability of the original Borrower or Borrowers successors in interest. Lender shall not be required to commence proceedings against any successor in interesi 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 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. Successors and Assigns Bound; Joint and Several WNW. Co- signers. 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_ Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co- signing this Secunty Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Securty Instrument-. (b) is not personally obligated to pay`" the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modifv, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without 5 that Borrower's consent. 12. Loan C7targes. 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 charges collected or to be collected in 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 sums 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 he treated as a partial prepayment without any prepayment charge under the 'vote. ' 13. Legislation Affecting 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 terms. Lender. at its option- may require immediate payment in full of all sums secured by this Secunty Instrument and may invoke any remedies -m permitted by paragraph 19. If Lender exercises this option. Lender shall take the steps specified to the second paragraph -A paragraph 17. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering i *. or by mailing it by first class mail unless applicable law requires use of another method- The notice shall he directed it, the Property Address or any other address Borrower designates by notice to Lender_ Any notice to Lender shall be given b<- first class mail to Lender's address stated herein or anv other address Lender designates by notice 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. Governing Law; Severability. This Security Instrument +hall 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 conflicts with applicable law. such conflict shalt not affect other provisions of this Security Instrument or the Note which ca:i be given effect without the conflicting provision_ To this end the provisions of this Security Instrument and the Note are declared io be severable. 16. Borrower's Copy. Borrower shall he given one coinformed copy of the Note and of this Secunty instrument V. Transfer of the Property or a Beneficial Interest in Borrower. If all or any pan of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is cold or transferred and Borrower is not a natural person) without Lendcrs prior written consent. Lender may. at its option, require immediate payrncm in full of ail sums secured by this Security Instrument. however, this option shall not he exercised by Lender if exercise is prohibited by federal tawa softh ,bateofthis_ieritntvInstrument If Lender 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 mailed within xt hich Borrower must pay all sums secur d by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies perm tied by this Security Instrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain cond€tions, Borrower shall have the nghi it) have enforcement of this Security Instrument discontinued at any time prior it) the earlier of ta) 5 days (or such other period, a, applicable law .nay specify for reimtatement) before sale of the Property pursuant to any power of sale contained in this Security lnstrrment; or (b) entry of a judgment enforcing this Security In rumcni Th+nc conditions arc that ikrrower (a) pays tender all suns which then would be due under this Secunr. Im,tru rent and the Note had no acralerauon occurred. (b) cures any default od :;ny other covenants of agreements (c) pays 411 exlwmcs incurred in enforcing thrs 5ecunr. hinuwnent, including, but not limited to. reaumableattorney,' ;=tih, and (d) takes such annul a, Lender may reasonably r'equnre io assure that the lien of this Security lnsrn„ent. Lender', right, in the 1'ropcity and Borrower', obligation ii+ pay the summs secured by this Security It ;arurnent ,hail continue unchanged ( pon reinstatement by Borniwer, this srcurn) Instrument and the obhganom secured herehv shall remain fully col Ynve a, it 1111 a,-et`10311011 had vcitrred 11 ,.+c °.cr. this right to reurstaleshall not apph to the case -1f dcceletattlui Mohr V:Oaoaphs 1 1 r 1'