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87--- 101490 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. R. 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, 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, i 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 aciandoned 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 I and 2 or change the amount of such payments. 10. Borrower Not Released; ` Forbearance By Lender Not a Wisiver. 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 successors in Interest. .Any forbearance by Lender to exmising any nght or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 11. Soccessoea wad .Assign Bound: Joist sad Several IimblitT: Co- dkoers. The covenants and agreements of this Security Instrument shall hind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph i'. Borrower's covenants and agreements shaft be lovtt and several. Any Borrower who co -signs this Security Instrument but does not execute the Now Is) is co- signing this Security [nstrnment only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Seacunty Instrument; (b) is not personally obligated to pay the sums secured by this Seruniy Instrument; and ter) agrees that I ender and anv other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the '.vote without ilsat Borrower's consent. 12. Loan Charges_ If the loam secured by this Securny Instrument is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or otter boar. charges -collected or to be collected it.. connection with the loan exceed the permitted limits. t` - - -n: (a) -rTy such lam. charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already corrected from Borrower which exceeded permitted limits win 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 wihout any prepayment charge under the Note. 13. 1 egafien AHectlnf Leader's Rigbts. If enactment or expiration of appbeable taws has the effect of rendering any provision of the Note or this Security Instrument unenforceable a:-cording to its terns. Lender, at its option, may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of paragraph li_ 14. Notices. Any notice to Borrower provided for in this Security Instrument shag 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 tv the Propem- Address or any other address Borrower designates by notice to Lender. Anv noricc to Lender shall be given by arse elass coal to Lender's address stated herein or any other address Lender designates by notice to Borrows. Any notice provided for in this Security Instrument shall be deemed to have been giver. to Borrower or Lender when given as provided in this paragraph. IS. Govend" Law-, Severability. 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 anv pro }isiers or douse of this Security in net or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security instrument or the Note which can be given effect without the conflicting provision. To this end the pro.isicros of this Security Instrument and the Notc are declared to be severable. 16. Borrower's Copy. Borrower shall be given one conformed Copy of the Note and of this Security instrument. 11. Traastar of the Property or a Beneficial Interest in Borrower. If all or any part of the Property 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 opuan, require immediate pay trhent in frill of all sums secured by this Secuni. Instrument. However, this option shall not he exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument 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 which the Borrower must pay all sums secured by this Srczivh7 las ..sinew 1; Borrower "fails to pay these sums prior to the expiration of this period, Lender tnav invoke any remedies per,, tried by this Security Instrument without further notice or demand on Borrower . ti. BanrowW% Rlgbt to Reinatatt. If Borrower meets certain conditions, Borrower shall have the tight to have enfor eI t of this Security Instrument discontinued at any time prior to the earlier of: (a) S days (or such other period as applicabk law tray specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument; or (b) entry of a judgment enforcing this Security lnstrument. Those conditions are that Borrower (a) Pays Lender all sums which there would be due under this Security Instrument and the Note had no acceleration occurred; lt) L cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, itrch1ding, but not limited to, reasonable attorney's fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument. Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Securiry Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred, However, this right to reinstate .hall not apt*lI In the cxw of acceleration under paragraphs d3 or I'+ *.