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86" 1 105414 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 Larder's written agreemt mt or applicable law. g. taapeetion. 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 specd*g reasonable etsuse for the inspection. 9. T'he proceeds of any award or claim for damages. direct or oo eque AWi i in connect M with any condaauasaan or other taking of any part of the Property, or for conveyance in luu of oondetonatiat, are hereby assigned and shall be paid to L.endc--•. 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 is- make an award or settle a claim for damages. Borrower fails to respond to Lender within 30 days after the date the notir., 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 Ian 2 or change the amount of such payments. 10. Borrower Not Released; Forbearance By Leader 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 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 stuns 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 As* Xs Bored; Joint and Several Liability; Cosigners. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subiect to the provisions of paragraph 17. Borrower's covenants and agreements shall be)oint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is cr,- 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 Borrower 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. Loon Gbarpc. If the loan secured by this Security- Instrument is subject to a iaw which sets maximum loan charges. and that law is tinily interpreted so that the intent 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 be treated as a partial prepayment without any prepayment charge under the Note. 13. Dion Affecting Leader's Rights. If enactment or expiration of applicable laws has the effect of rendering any provisicm of the Note or this Secunty Instrument unenforceable according to its terms, 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 t.ie steps specified in the second paragraph of paragraph 17. 14. Notices. Any notice to Borrower provided for in this Secunty Instrument shall be given by delivering it or by mailing it by first class marl unless applicable law requires use of another method. The notice shad be directed to the Property Address or any other address Borrower designates by notice to Lender. Any nonce 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 provkW for in this Secunty Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. Gotrernin 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 any provision or clause of this Security Instrument 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 provisions of this Security Instrument and the 'vote are declared to-be severable. 16. Borrower's Copy. Borrower shall be given one conformed cop} of the Noce and of this Security Instrument 17. Transfer of the Property ors Beneficial Interest in Borrower. If all or any part of the Propert) or am interest to 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 option, require immediate payment in full of all sums secured by this Security Instrument. However. this option shall not be exercisers by Lender if exercise is prohibited b) 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 Borrower must pay all sums secured by this Security Instrument. if Borrower fails to pay these sums prior to the expiration of this penod. Lender may invoke any remedies permitted by this Secunty Instrument without further notice or demand on Borrower. 18. Borrower's Riebt to Raiestate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) S days (or such other penod as applicable law may specify for reinstatemretit) before sale of the Property pursuant to any power of We contained in this Securitv instrument; or (b) entry of a judgment enforcing this Secunty Instrument. Those conditions are that Horrowes (a) pay,* bender all sums which then would be due under this Security Instrument and the Note had no acceleration Excurred. (bl cures any defiault of any other covenants or agreements, (.r). pays all expenws incurred in enforcing this Secunty ln`trument, including but not limited to, reasonable attorneys' fees. and tdt takes such action as Lender may r abily require io assure that the lien of this Security Instrument, Lenders nght_• in tlrr Property and fiorrower's O igr,rsm to ` the sunny secured by this Secunty Instrument shall continue Unchanged t.'Ix_3ia ;einslAietnent qtr ++wed !bW `tie UMr Instrument and the �+b#A one WC.erred trcreb+s OlAi.l tertlain fully rmt%tll C a- -. it rik, :071 t Td,'i?`�Vt., t %shalt r} „:g' pp lk m !hecaiC° # r