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payments may no longer be required, at the option of Lender, if mortgage insurance coverage (in the amount and for the period that•Lender requires) provided by an insurer approved by Lender again becomes available and is obtained. Bonower shall pay the premiums required to maintain mongage insurance in effect, or to provide a loss reserve, until the requirement for mortgage� insurance ends in accordance with any written agreement between Borrower and I.ender or applicable law. 9. 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. �ri 10. Condemnation. T'he proceeds of any award or claim for damages, direct or consequential, in connection with any� condemnation or other tal:ing of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to L,ender. In the event of a total tal:ing of the Propeny, 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 in which the fair ' market ��alue of the Propert�� immediatel�� before the tal:ing is equal to or greater than the amount of the sums secured b}� this Securih� Instrument immediately before the tal:ing, unless Borrower and Lender otherwise agree in writing, the sums secured b}� 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 tal:ing, di��ided by (b) the fair market value of the Property immediatel�� before the taking. Any balance shall be paid to Borrower. In the event of a partial tal:ing of the Property in which the fair market value of the Property immediately before the taking is less than the amount of the sums secured immediately before the taking, unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides, the proceeds shall be applied to the sums secured by this Security lnstrument whether or not the sums are then due. If the Properry is abandoned by Bonower, or if, afier 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, L.ender 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 Securit}� 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 pavments referred to in paragraphs I and 2 or change the amount of such payments. 11. Borrower Not Released; Forbearance B�� Lender Not a Waiver. Eztension of the time for payment or modification of amonizacion of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liabilit�� of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against an�• successor in interest or refuse to extend time for payment or otherwise modif}� amortization of the sums secured b�� this Securin� Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. An�� forbearance b}� l.ender in ezercising an�� right or remed}� shall not be a waiver of or preclude the ezercise of any right or remed}�. 12. Successors and Assigns Bound; Joint and Several Liabilit3�; Co-signers. The covenants and agreements of this Securin� 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. An�� 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 corivey that Borrower's interest in the Propem� under the terms of this Securit}� Instrument; (b) is not personally obligated to pay the sums secured by this Securit�� Instrumenc; and (c) agrees that Lender and any other Borrower ma}� agree to eztend, modify, forbear or make an}� accommodations with regard to the terms of this Securit�• Instrument or the Note without that Borrower's consent. 13. Loan Charges. If the loan secured b}� this Securiry Instrument is subject to a law which sets mazimum loan charges, and that law is finall�� 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) am� such loan charge shall be reduced by the amount necessary to reduce the charge to :he permitted limit; and (b) an}• sums alread}� collected from Borrower which ezceeded permitted limits will be refunded to Borrower. L.ender ma}� choose to make this refund by reducing the principal owed under the Note or b}� mal:ing a direct payment to Borrower. If a refund reduces pnncipal, the reduction will be treated as a partial prepayment without an�� prepayment charge under che Note. � 14. Notices. An�� notice to Borrower provided for in this Security lnstrument shall be given b�� 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 Propem� Address or any other address Borrower designates b�� notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address stated herein or an�� other address Ixnder designates by notice to Borrower. An�� notice provided for in this Securit}� Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. - 15. Governing La��; Severabilit��. This Securit�� Instrument shall be governed by federal law and the laa� of the� ' jurisdiction in which the Propem� is located. ln the event that an}� provision or clause of this Security Instrument or the Note..;. conflicts with applicable law, such conflicc shall not affect other provisions of this Securiq� lnstrument or the Note which can be given effect without the conflicting pro��ision. To this end the provisions of this Secunty Instrument and the Ivote are declared••�» to be severable. • 16. Borrower's Cop��. Borrower shall be given one conformed copy of the Note and of this Securiry Instrument. Form 3028 9/90 �-6RINE1�szizi.o2 Pape 4 0l 6 � i��f�.is