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19 L r 7 105186 If Lender required mortgage Insurance as a condition of making the loan secured by the Secud; Instrument, Borrower shat pay the proms uma 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. S. Inspection. Lender or is agent may make reasonable entries upon and inspections of the Property. Lender shat give Borrower notice at the tine of or puler to an in for the Inspection. 8. Condsmnstion. The Illix0i ,1 gas, direct or consequential, In connection with any condom- nation or other taking of any part of t of condemnation, are hereby assigned and shat be paid to Lender. In the evert of a total taking of the Property, the proceeds shag 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 shat be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sera secured Immediately before the taking, divided by (b) the fair market value of the Property Im- msdhtely before the taking. Any balance shat be paid to Borrower. If the Property Is abandoned by Borrower, or t, after notice by Lender to Borrower that the condemnor offers to make an award or settle a dakn for damages, Borrower We 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 reitoration or repair of the Property or to the sums secured by this Security Insw- ment, whether or not then due. Unless Lender and Borrower otherwise agree In writing, any apptcatkm of proceeds to principal shat not extend or postpone ihe due ditto 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 Waiver. Extension of the time for payment or modit- ation of ornortbmtIon of the sums segued by this Security Instrument granted by Lender to any successor in interest of Borrower shat not operate to release the liability of the original Borrower or Borrower's successors In Interest. Lender shat 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 Lenox In exercising any right or remedy shat not be a waiver of or prelude 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 shat bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Borrower's covenants and agreements shat be Joint and several. Any Borrower who co -suns this Security Instrument but does not execute the Note: (a) Is co- signing this Security Instrument only to mortgage, grant and convey that Bonrowr's Interest in the Property under the tams of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lend and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the tame of this Security Instrument or the Note without that Borrower's consent. 12. Low Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum ban charges, and that law is finally Interpreted so that the Interest or other loan charges collected or to be collected in connection with the ben exceed the pemetted mss, then: (a) any such loan charge shag be reduced by the amount necessary to reduce the charge to the permitted g- mitt; and (b) any sums akeady 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 prin- cipal, the relation 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 effect of rendering any pro- vleion of the Note or this Security Instrument unenforceable according to its terns, Lender, at its option, may require Immediate payment In fug of all sums secured by this Security Instrument and may invoke any remedies permitted by paragraph 18. If Lender exercises this option, Lender shag take the steps specified In the second paragraph of paragraph 17. 14. Notices. Any notice to Borrower provided for In this Security Instrument shat be given by delivering it or by mailing it by first does mil unless applicable law requires use of another method. The notice shag be directed to the Property Address or any other address Bo mar designates by notice to Lender. Any notice to Lender shag be given by }lest class mail to Lender's address sated herein or any other acidness Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shag be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. Governing Lem Severabiiity. This Security Instrument shag 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 low, such conflict shag not affect other provisions of this Security Instrument or the Note which an be given effect without the conflicting provision. To this and the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shag be given one conformed copy of the Note and of this Security Instrument. 17. Transfer of the Property or a Beneficial Interact in Borrower. If at 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 Len- der's prior written consent, Lender may, at its option, require immediate payment in fug of at sums secured by this Security Instrument. However, this option shag not be exercised by Lender t exercise as prohibited by federal law as of the date of this Security Instrument. If Lender exercises this option, Lender shag give Borrower notice of acceleration. The notice shat provide a period of not less than 30 days from the date the notice is delivered or mated within which the Borrower must pay all sums secured by this Severity Instrument. If Borrower tats to pay these suns prior to the expiration of this period, Lender may Invoke any remedies permitted by this Security Instru- ment without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shag have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale conned in this Security Instrument; or (b) entry of a judg- merht enforcing this Security instrument. Those conditions are that Borrower. (a) pays Lender all sums which then would be due under this Security khasvme nt mid the Note had no acceleration occurred; (b) cures any default of any other covenant or agreements; (c) pays at expenses Incurred In enforcing this Security Instrument, Including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may reasons* require to assure that the lien of this Security Instrument, Lender's rights In the Property and Borrower's o>bgg- s#On to pay the sums secured by this Security Instrument shag continue unchanged. Upon reinstatement by Borrower, this Security Instru- mMaht and the obtgugdxns secured hereby shat reran Idly effective as If no acceleration had occurred. However, this right to reinstate OM not apply In the case of acceleration under paragraphs 13 or 17. 013162S_TF ) zlmiaeao Page 3 of A r'