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85--' 006291 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 in accordance with Borrower's and Lender's written agreement or applicable law. 8. Inspection. 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. p. Ceniannatioa. The proceeds of any award or claim for damages, director consequential, in connection with any condemnation or other taking of any pari 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 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 restoration or repair of the Property or to the sums secured by this S&urity 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 Z or change the amount of such payments. 10. Borrower Not Rekased; Forbearance 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 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 Borrowers successors in interest. Any forbearance by Lender in exercising any right or remedy shalt not be a waiver of or preclude the exercise of any right or remedy. 11. Successors and Assigns Bound; Joint and Several Liability; Co- signers. 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. Borrowers 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 Securn% Instrument or the Note without that Borrower's consent. 12. Lome C7targes. 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 loan 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 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 finncipai. the reduction will be treated as a partial prepayment without any prepayment charge under the Note. I& Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has the effect of rendering any provision of the Note or this Security instrument unenforceable according io its terms. Lender. at its option, may require immediate payment in full of all sums secured by tltis Securit% Instrument and may invoke any remedies permitted by paragraph 14. If Lender exercises this option. Lender shall take the steps specified in the second paragraph of paragraph 17. 14. Notices. Any notice to B mower provided for in this Security Instrument shall be gncn by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall he directed to the Property Address or arty 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 io Borrower or Lender when given as provided in this paragraph. 15. Governing iAw; Severability. This Security Instrument shall he 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 shalt not affect other provisions of this Security Instrument or the Note which . an he given effect without the conflicting provision. To this end the provision% of this Security Instrument and the Vote are declared to be severable. 16. Borrower's Copy. Borrower shall he given one conformed copy of the Note and of this Security Instrument. 17. Transfer of the Property or a Beneficial Interest in Borrower. if ail 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 ttansfencd and Borrower IS not a natural person) without Lender's prior written consent. Lender may, at its option, require immediate payment to full of all sums secured by this Security Instrument. However, this option shall not he exercised by Lender if 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 riot less than 30 days from the date the notice is delivered or mailed within which Borrower roust pay all sums securest by this Security Instrument. if Borrower fails to pay these sums prior to the expiration of this period. Lender may invoke any remedies permitted by ibis Security lnstrumeni without further nonce or demand on Borrower. it. Borrower's Rlgbt to Reimttate. If Borrower meets certain conditions. Borrower shall have the right io have enforcement of this Security Instrument discontinued at any time prior to the earlier of (a) c days (or such other period as L applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument; tot (h) entry cif a judgment enforcing this Security Instrument Those conditions are Thai Borrower (a) pays Lender all sums which then would be due under this Security Instrument and the Noic had n;, acceleration t c:urtcd. Ih/ cures any default of an other covenants or a reemenis. tc) T" y g pays ,ill ex)Knses sncurrt•d m �•nhirrm}! this Isecurity insrrumerit, including, but riot limned to• reasonable attorneys' fee, and id) takt- such i, I sinter rnas rearrmatrlY -wjore to assure that the ben of this Sccurtty Inr[rurnent. I vndt-r 5 rich,~ ni ow 11if,1wrh u„i not erns ei't 1i jlnrti Ure *tuns secured h this S" -urlty instruincni shall ,,.ritinuc i:n:1�:,i „•,: 1 h,, rm�tatrnn•n� Ins iiw- nr.rti lr .vutru°nt and the •h1lgal1on%secured here+,, I o _., riGls< y„ retnsiate °shall not alrf >Is �n the - _,isr.a , - Mi