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86._ 105573 If Leader required mortgw isumoce as a condition of -skint the :loan secured by this Security lastswnmt, Borrower shall pay the premiums regained to maintain the umrance in efrea until such me as the raptire ment for the insurance terminates in accordance with Borrower `s and Leader's written agreement orappb=bk btu. L lw"cdm Lacier or its agent may make reasonable entries upon and impactions of the Property. I cutter shall give Borrower notice at the time of or prior to in inspection specifying reasonable cause for the inspection. 9. cesdomadm The proceeds of any award or claim for damages, direct or conampmawl, in connection with any condemnation or otter taking of any part of the Property, or for conveyance in lieu of condmastion, are hereby assigned and shall be paid to Lander. In the event of a total taking of the Property, the proceeds shall be applied to the storms 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, utakx 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 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 tmoration 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 drat date of the monthly payments referred to in paragraphs I and 2 or change the amount of such payments_ 10. Borrower Not Reksse* Forbearance By I.eaier Not a Waiver. Extension of the time for payment or modification of amortintion of the suns 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. Leggier shall not be requited 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 tbearigi iai Borrower or Borrower's successors in interest Any forbearance by Leader in exercising any right or remedy shall at be a waiver ofor preclude the exercise of any tight or remedy. 1L Sueossevs and Aesigas Ban$ Jost at► Several I4ability; Co- sigtnn. 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- agnimg 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 aecmed 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 e�omsent 12. Lea Gages. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, mend 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 rhea: (a) any such loan charge shall be reduced by the amount necessary to redmoe the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refmaded to Borrower. Lender may choose to make this refund by reducing the principal owed trader the Note or by taakmg a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge -ender the Note. M Lookboiaa Aiattitg Lanids Rieke. 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. Leader, at its option. may require immediate payment in full of all sums secured In this Security Instrument and may invoke any remedies permitted by paragraph 19. If Lender exercises this option, Leader shall take the steps specified in the second paragraph of paragraph 17. 14. Nobce& Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law require use of another method The notice shall be directed to the Property Address or any other address Borrower designates by nonce to Leader. Any notice to Lender shall be given by first class mail to Loaders address stated hereim or any other address Lender designates by not= to Borrower. Any nonce 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; Severalellity. 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 Note are declared to-be severable:. 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Transfer of the Property or a Beneficial Interest in Burrower. 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 sold or transferred and Borrower is not a natural person) without Leader's prior written consent, Lender tray, at its option, require immediate payment in full of all sums secured by this Security instrument. However, this option shall not be exercised by Lender of 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 then 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 period, Lender may invoke any re modus permitted by this Security Instrument without further notice or demand on Borrower. It Derviswar s Rigit to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcemeant of this Security Instrument discontinued at any time prior to the earlier of: (a) S days (or such other period as applicable law may specify for remsntemeat) before sale of the Property pursuant to any power of sale contained in this L Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sutras which then would be due under this Security Instrument and the Note had no acceleration occurred: (b) cures any default of any other covenants or agreanents; (c) pays all expenses incurred in enforcing this Security Instrument, including, but non limited to, reasonable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Secunty Instrument. Lender'.-, nights in the Property and Borrower'. obligation to pay the sums secured by this Security Instrument shall continue unchanged Upon reinstatement b% &mows . t his Se cunty Instrument end the obligations secured hereby shall remaen full% effective a, if nor acceleration had ,x:cured Hnwever in like case of acceieration under r+arapiaph• 1 ; or