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106038 If Leader required mortgage insurance as a condition of -along the loan secured by this Security Instrument, Borrower shall pay the premiums to maintain the insurance in effect until such time as the require:nout for the insurance terminates in accordance with Borrower's and Leader's written agreement or appliable law. R Imapocd m. Leader or''its agent may make rtiuooable entries upon and inspections of the Property. Lender shall give Borrower notice at tbrumeoferpriortoaa impaction specifying reaonabieauseforthe inspection. !. Cwdmimsi es. The proceeds of any award or claim for damages, direct or consequential. in connection with any condemnation or other nk+4g of any pat of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shill bepaid to Leader. In the event of a total raking of the Property, the paoexeds shall be applied to the sums secured by this Security butt maent, whether or act then due, with any c == paid to Borrower. In the event of a partial taking of the Property, mkas Borrower and Lender otherwise agm in writm& the stints 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 suns 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. Leader is amborized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Securin• 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 Reimw* Forbearance By Leader Not a Waiver. Extension of the time for payment or modification of amortization of the stints 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 BotrmWs successors in interest. Lander shall not be required to comments proceedings against my successor in interest or nd'me to extend time for payment or otherwise modify amortization of the smas 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 am be a waiver of orpr+eclude the exercise of any right or remedy. IL Smoeeasas and Aseigas bmm* Mot and Severd Uelbifity, Capers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Leader and Borrower, subject to the provisions of paragraph 17- Borrower's covenants and agreements shall be)mt and several. Any Borrower who co -signs this Security Instrument but dues not execute the Note: (a) is co- signing this Security itutrumew 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 Leader and any other Borrower tray agree to extend, modify, forbear or make my accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 12 Lon CbmSeL If the ban secured by this Security Instrument is subject to 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 Ion exceed the permitted limits, t hen: (a) any such ban charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any stns already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Leader may choose to make this refund by reducing the principal owed I rader the Rote or by mrimtg a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayaroet Marge under the Note. 13. Lgidetiam A*aedeg iwadees RWtL If emictmetin or expiration of applicable laws has the effect of rendering any provision of the Note or this Security lustrmmeent wtmfor«aole according to its terms, Lender, at its option, may require immediate payment in full of all stuns secured by this Security Instrummt 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 pantgraph 17- 14. Notices. Any notice to Borrower provided form this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another met hod. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Leader shall be given by first class mail to Leader'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 Leader when given as provided in this paragraph. 15. Governing Isw; Severskility. 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 coolficts with applicable law, such conllict shall not affect other provisions of this Security Instrument or the Note which an 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. V. Trader of the Property or a Beneficial latterest 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 coarsen, Lender may, u its option, require immediate payment in frill of all sums secured by this Security Instrument. However, this option shall not be exercised b) Lender if exercise is prohibited by federal law as of the date of this Security Instrument- If Leader 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 mast pay all sums secured by this Security Instrument. If Borrower bib to pay these sums prior to the expiration of this period Lender ma) invoke any remaeda s patented by this Security Instrument without further notice or demand an Borrower. li. ltaswwar's Rf& too Rehnta *L If Borrows meets retain conditions, Borrower shall have the right to have culbecement of this Security Instrument discontinued at any time prior to the earlier of (a) 5 days (or such other period m applicable hen may 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 Instrument Those conditions acre that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note had no acceleration occtured: (b) cum any default of any other covenants or agreements. (c) pays all expenses incurred in enforcing this Security imtruamt, including, but not limited to, reasonable attorneys' feu, and (d) takes such action as Lender rna) reasonably require to assure that the lien of this Security Instrument, Lender's rights to the Property and Borrower's oblipbon to pay the suns seethed by this Security instrument shall continue unchanged U*w. reinstatement h% Borrower. this Secuntr Instrument and the obligations secured hereby shall remain full% efecttyr as a no acceleration had occurred However, this right tc reinstate shall not apply en the case of acceJer atuon under paragraph, : ,,- : " R