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if Lender required mortgage insurance as a condition of making the loan secured by this Securiy Instrument, Borrower shall pay the premiums required to maintain the insurance in effecl until such time as the requirement for the insurance terminates in accordance wills Borrower's and Lender's written agreement or applicable law. 0, laslieeti+n : Lender or its agent may snake reasonable entries upon and inspections of the Property. Lender shall give Borrower atotice at the time of or prior to an inspection specifying reasonable cause for the inspection !. GowrewnnMitin. The proceeds 'iof any ■ward'or claim for damages, direct or consequential, in connection with any eth olcurn Kion or other talking of any parr of the Property, or for conveyance in lieu of condemnation, ore hereby atsbij;ned and shall be paid to Lender. In The event of a total taking of the Property. the proceeds shad be applied to the sums secured by this Security Inatrument. 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 antatunt of the pro cads 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 Ilofrowcr that the condemner offers to make an award or settle a claim for damages, Borrower fails to respond to lender within .10 days after the date the notice is given, Lender is authorized to collect and apply the proceeds, at its option, either to restoratitn or repair of the Property or /o the sums secured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agar in writing, any application of proceeds to principal shall not extend or postpone the date date of the monthly payments referred to in paragraphs I and 2 or change the amount of such payments. 10. Harrower Net Releaaetl; Forietrance 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 succcsxx in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. lankier 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 sums secured by this Security instrument by reasai of any demand made by the original Borrower or Borrower's su cexsom can interest. Any forbearance by Lender in exercising any right or remedy shag not be a waiver of or prelude the exercise of any right or remedy. I,. Sutodrurt, sad, MsiW Buurld; Joint sod Several Lialolity; Co- sigaenL 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 said 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 lay thc.susns 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 terns of this Security Instrument or the Note without that Borrower's consent. 12. Landes Charge. If the loan secured by this Security instrument is subject to a law which sets maxnnum loan charges, and that law is finally interpreted so that the interest or other lout charges collated or to be collected in connection with the lean 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 reloaded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note ex by making a direct payment to Borrower. I f a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 13. L.egislmiun ARettiwg Leader's MOW If enactment or expiration of applicable laws has the ctfcct of tendering any provision of the Note or this Security Instrument unenforceable according to its terns. Lender, at its option, may require immediate payment in full of all sums secured by this Security Instrument and nuey invoke any remedies permitted by paragraph 19. If Lender cxcrciscs this option. Lender shall take the steps specified in the second paragraph of paragraph IT 14. Notices. Any notice to Borrower provided for in this Security Instrument shall he given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designate by notice to Lender. Any notice to Lender shall be given by firm dabs mail to Lender's address stated herein or any other address Lender, designaics by notice to Borrower. Any notice provided for in this Security Instrument shall he deemed to have been given to ltorrowcr or Lender when given as provided in this paragraph. IS. Governing Law; Severaiility. This Security Instrument shall he govenncd 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 car 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 Riven one conformed copy of the Note and of this Security instrument. 17. Trsauster etif the lroperty car a Barebrial Interest is Burrower. If all car 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 nxtural person) without tLendei 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 exercised by Lender if exercise is prohitriled by federal law as of the date of this Security Instrument. If Lender exercises this option. Lender shall give Borrower notice of acceleration. The nit ice shall provide a mlod of not ku than 30 days from the date the notice is delivered or mailed within which lieirrower mint pay all sums secured by this security Instrument. if Borrower full to pay these sums prior to the expiration of this period. Lender may invoke any remedies permitted by this Security instrument without further notice or demand can Borrower. d is. NaerOover"s Right H Reias/>tte. If Bexsowcr meets certain conditions, tk mower shall have the right to have enforcement of this Security instrument dis:oitimued at any time prior to the catleer of. (a) 5 days (or such other ponied as applicable law may specify for reinstatement txtorc sale of tire Property pursuant to any power tsf sale contained in thus Security loatrument or (b) entry of a judgment enforcing the security instrument- Manse conditions are that llttniwer (a) pays Lender all sums which then would be due under this Security Instrument and the Note had oo accelerateun jsecurred: (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in cnfor,mr, this Security Iristnament, including. tut non limited hi, rcasenabte atturneyi lees; and (d) takes such action as i -ender may reasonably require to assure that the lien of this Security Instrument Lender's nghts tit the Properly and Borrower's N `" nbhgalnH► to pay the sums secured by this Security Instrument .hail co imuc uuchangrd Urain rrinslAlrlOctn by Borrower, this lecurity Instrument aiml the eit+hgatunis secured hereby shall rrmain fully eAtt'iiVr its if "'134: eirr itam had eic., a +errd tl.�*evcr, Ihev fight Ioremuale "hathxit apply in Ida rase of m'-CICrata*n cantor P.v 1Ft.iph' I I or I'1