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86- 107203 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 is accordance with Borrower's and Lender's written agreement or applicable law. g. lagsetian. 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; specifying reasonable cause for the inspection. 9. CoM andMa. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. 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 shalt 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 markets value of the Property immediately before the taking. Any balance shall be paid to Borrower. If the Property is adandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make as award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is gives, Leader is authorized to collect and apply the proceeds, at is 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 1 and 2 or change the amount of such payments. Ifs. Da own Not Released; Forbewance By Lewder Nag a walva. 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 sums 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. Saeteasn sri Asslgaa Mead; .hint read Several Liability; Co -dgnen. 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- 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. Lana (urges. If the loan 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 low exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the 'A It 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 wihout any prepayment charge under the Note. 13. i egislaYan Affecting Leader's Worts. 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, Lender, at its option, may require immediate payment is 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 the steps specified in the second paragraph of paragraph 17. 14. Nedees. Any notice to Borrower provided for in this Security Instrument shall be given by delivering is 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 designates by notice to Lender. Any notice 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 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. 'Gnreraift Law; Severablily. 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 provisions or clause of this Security Instrument or the Note coelGcis with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which sun be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are'declared to be severable. IC Basrenar's CNy. Borrower shall be given one conformed Copy of the Note and of this Security Instrument. 17. ThoWer of the Property or a`BeneficW lateram In Burrower. 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 consent, Lender may, at its option, require immediate payment in full of all sums secured by this Security imuumetnt. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of tbe'date'of this Security Instrument. If Lerida exerc ses Ah option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of notices than 30 days from the dale the notice is delivered or suited within which the Borrower must pay all sums secured by this Securky'Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any ramiediea permkisd by this Security Instrument without further notice or demand on Borrower. . >rrsr~o wt to ■rbrslsles If Borrower meets certain conditions, Borrower shall have the right to have entoaaaaent'ot tide Ssctriity butramest dbeoetimaed at anytime prior to the earlier of: (a) 3 days (or such other period as '' ' >grr �y specify for. reinstatement) before sale of the a�icabltt; Property pursuant to any power of sale contained in this 9eearhy= latirumesetI or (Wesnry of a judo enforcing this Security instrument. Those conditions are that Borrower: (a) IWA,Laader,sB'au which then would :be'due undo this Security Instrument and the Note had no acceleration occurred; (b) CVW- ay; default of they other covenants or agreaoeats; (c) pays all expense incurred in enforcing this Security Instrument, Mi: bin' noCd m, talopble attoraay's fees; and (d) takes such action as Lender mail reasonably require to assure !fiat the Ana outhk Security 1tMrumaN; Lender's °rights in the Property and Borrower's obligation to pay the sums secured M3+ 4116 Security lnKrwaaat shag cdatimse unchanged. Upon reinstatement by Borrower, this Security instrument and the obligations swund ber6y shoWtaussin fully effective as if no acceleration had occurred. However, this right to reinstate shall ttdt appty'in' the case of acceleration under paragraphs 13 or 17.