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��- 100559 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 pri or to an inspection specifying reasonable cause for the inspection. for damages, direct or consequential, in connection with 9. Condemnation. The proceeds of any award or claim 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 he 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: (at 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 securer- 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 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 intere- Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time fog 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 Liability; 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 Security Instrument only to mortgage. grant and convey that Borrower's interest in the Property Under the terms of this Security Instrument: (b) is not personally obligated to pay the sums secured by this Security Instrument: and (c) agrees that Lender and any other Burrower may agree to extend. modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 12. Loan Charges. If the loan secured by this Security Instrument is subject u1 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 fimits 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 effect of rendering any provision of the Note or this Security Instrument unenforceable according to its ternn, 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 I Q. If Lender exercises this option. Lender shall take the steps specified in the second paragraph of paragraph ]7. 14. Notices. Any notice io Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shalt 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 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 shall be gmerned by federal law and the law of the jurisdiction in which the Property is located. In the event that any provision ar clause 01"1111S Security Insirenlcni 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. ro this end the provisions of this Security Instrument and the Note are declared to be severable. lb. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrunlcnt. 17. Transfer 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 fit Borrower is sold or transferred and Borrower is not it natural person) without Lender's prior written consent, Lender may, at its option, require inunediate payment ul full of all sun» secured by this Security Instrument However, this option shall not be exercised by Lender if exercise is pi ()If led by federal law as of the date of this Security Instrument. If Lende: exercises this option, Lender shall give Borrower notice of acceleration. The notice shall pro) file it pcnod of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all suns% secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of Offs period, Lendel niay inxoke any remedies permitted by this Security Instrument without further nonce or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Burrower shall have the right to have enforcement of this Security Instrument discontinued at any lime prior if) the earlier of: (a) 5 days (or such other period its applicable law may specify for rcuntatement) before sale of the Pnlperty pursuant ill any power of sale Contained in 1111' Security Instrument: or (h) entry of a judgnu•nt enf,rcifig this Svc uril)' I I's lrurnent 7'hose conditions .In that Hot rowel (a) pays Lender all sums which then would be due under this Security InStfUlTICllt and the Note h,ld lilt c am 11 r occurred. (b) cures any default n( any other covenants ut agreements. (c) pays all expenses Incurred fit enfoiculf; thus Srcutlty 111\Ir11111L'nt, 11101.1ding. hill not 11n11led to, re:tslnlahie attorney'' fl'e'a and (d) takes such Holt .I' I.l'llder rll:l\ th leau,nabl) require to assure shat life hen of this Security In'trunient. Lender's tigfil' Ill the Plolcny ,Ind Beirut rr' uhilgauvn to pa) the 'isms senucd by tfus Security Instrunlcnt 'hall —litillur uruhall cvd ('loll 1cli stlucmeril b) ti1)Tf .lwtl, d ?t'S�C:h riSy Insl urticul find Itie t4111galloll, 'c, tired hcrchy '11:61 1,:(11.1111 f1111 clf-!IIC 1111'' i<'!t rll1, �l! Il.tll _ n _�Irf!'d IIa +N �': <_i I)I:h light IIf f['111'lala' n11.,f1 rill( alpl} Mn Ifll' _.1'r-' �)f a'. �a'Ii ". LIwn Ruder f)_I r.l ::_1 .11 �)1� 1) �I J