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I 86- 106549 If Lender required mortgage insurance as a condition of making the won secured by this Security Instrument, Borrower shall pay the premiums required to mmusm the imnrma in effect van] Such time as the requirement for the insets uceterminatesinsewed== with` Borrower' sandLender' swrittenagreementorapplicablelaw. L IMaedas, Lender or its spent may make reasonable entim; upon and impectioos of the Lender Shall give Borrower notice u the time of or prior to an inspection specifying reasonable cause for the inspects 0. C.naiarrtian. The proceeds deny award or claim for damages, direct or o iswlaentisl, in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby atsig'ad Suer shall be paid to Lender. . In the event of a total taking tithe Property, the proceedsandl be applied to the Sims seemed by this Security Inservmemt whetter or not the due, with any excess paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Leader otherwise asset in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: `(a) thrtotal amount of the sums secured immediately before the taking, divided by (b) the fair market value tithe Property immediately before the taking. Any be' shall be paid to Borrower. If the Property is abandoned by Borrower, or if, after notice by Lander 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 solka 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 t and 2 or change the amount of such payments. 10. Borrower Not Reclean* Forbaarsuce By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sumps seeurad by this Security Instrument granted by Lender to any successor in interest of Borrower shall cot operate to release the liability of the original Borrower or Borrower's soccessors in interest. Leader shall not be required to commence proceedings against any successor in interest or refuse to extend tine for payment or otberwise modify amortization of the sums secured by this Security Instrument by reason dany demand made by theoripeal Borrower or Bottuwees successors in interest. Any forbearance by Leader in exercising any right or remedy shall not be s waiva of or preclude the cxacise'of any sight or remedy. IL Sweeteners ant Aaaigas Bent* JWa and Severest Liability; Co-signers. The covenants and agreements of this Secarity Itstrtroret shall bind and benefit the successors and amigos 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 so execute the Note (a) a roorignrg 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 suss segued by this Security Instrument, and (c) agrees that Lender and any other Borrower'may agree to ex tend, modify. forbear or make any accommodations with regard to the term: of this Security Instrument or the Note without that Borrower's consent. IL Lam Cbatyew. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and that law n finally interpreted so that the interest or other loan charges collected or to be collected in commence with the ken exceed the permitted limits, then: (a) any such Joan charge shall be reduced by the amount necessary to n dum the curie to the Emit, and (b) any sums already collected from Borrower which exceeded paaattt+d limits will be refundeeh to Borrower. Lender may edroose to stake this . by reducing the principal owed under the Nose or by mskmg a d rm payment to Borrower. If a refund reduces priudps L the reduction wic be treated as a partial prepayment witbau my prepayment charge ceder the Note. I& Lsj u ieit Affudeg LaWWs RWft N enactment or expiration of applicable laws has the effect of rendering arty provision tithe Note or this Security Instrument muenfor ceable according to its terms. Leader, at its option, may require immediate payment in full of all sus soured by this Security Instrument and may invoke Say remedies permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of paragraph 17. 14. Notices. Any notice to Borrower provided for is this Security Instrument shall be given by delivering it or by m:tt it by first class mail unless applicable law requires we d another method. The notice shall be directed to the Property Address or any other address Borrower deigsates by notice to I. ender. Any notice to I.emde shall W give by fiat class mail to Larder's address stated herein or any other address Leader "soma 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 15. Gowrniwg Law; S iverdli O This Security Itstrumeat shall be governed by federal law and the law of the lion is which the Property is loaned. In the event that any provision or chose of this Security Instrument or the tnttiixs with apphabk law, such cou&a shall net affect other provisions of this Security Instrument or the Note an be given effect ,without the conflicting provision. To this end the provisions of this Security Instrument and the e declared to-be severabie. 16. 'Dwrweer's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Transfer of the Property err a.Beweficial Iatereast in Btrrawer. If all or any pan of the in it is sold or transferred (or ifa beneficial interest in Borrower is sold or transferred and Borrower �u � a natural I without Leadws prior written consent, L raider try, at its option. require immediate payment in full of all sums I by this Security Instrument. However. the option shall not be exercised by Leader if exercise a prohibited by ItI:auder amot sees this option. Lender shall give Borrower notice of Acceleration. The notice shall provide a period mf act1ii is than 30 "days Gem the dam the notice is delivered. or mailed within which Borrower must pay all suns secured by this 3ttetuitylmatrtimststn I! Baroaror 6Be 'top, ly these was prier to the expiration of period, I ender users invoke any nrantdiit ptrmsiaad by tbsrSeaMity mttimwtert withoutfartbsr erotica err deuamd on Borrower. 11g. Igenrewar's iltf jet M 1♦tiaru0s. ItAterwer ms uertsia o2aditics, Borrower shall have the tight to have elf thurs SacrMty Instrumaut etitooruinoad u attytaee pierce m the earhllr of (a) 3 days for such other period as r1►piitsWc'bitrtray spaeify got rei treat) befWre Saba d tie Property pursuant to say powder of sale ennesined itat this SaCSairY Utmooiatt tie (b) entry . at a f Q"— aftr+aing this Security Instrument. Tlime conditions are that Borrower: (a) haltler aH >Mms which dam would be rate under this Security Instrument and the Note had no accderation ooewrt tb) cures any ddwh of onus other covenants or agreements; (c) pays all cxpenaes itncttrred in aufoncing this Sabority isarvdsatt.' ncitdatg but not {imitod to, room" attorseys' foes; and (d) takes such action as Leader may roaeosably twpare to assure that the ilea d this Security Instrument. Leader's nights in the Property Sad Borrower's obligdttiaa to pay the stets sucxred by this Security lnstrwnart slab continue unchanged. Upon reinstatement by Borrower. this 3eeurity lastruft"t and the obligations secured hereby shall remain fully effective "if no accele:ation had occurred. linw,rver. this right to reinstate shall not apply in the cord of acceleration under paragraphs I ? or I ?