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- <br /> . ;. 98- ������s9 <br /> payments.may no longer be requued, at the option of Lender, if mortgage insurance coverage (in the amount and for the period <br /> that Lender requires)provided by an insurer approved by Lender again becomes available and is obtained. Bonower shall pay the <br /> premiums required to maintain mortgage ins�rance in effect, or to provide a loss reserve, until the requirement for mortgage <br /> insurance ends in accordance with any written agreement between Borrower and Lender or applicable law. <br /> 9.Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give <br /> Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. <br /> 10.Condemnation. The proceeds of any awazd or claim for damages, d'uect or consequendal, in connection with any <br /> condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and <br /> shall be paid to Lender. <br /> In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument, <br /> whether or not then due,with any excess paid to Borrower. In the event of a paztial taking of the Property in which the fair mazket <br /> value of the Property immediately before the taking is equal to or greater than the amount of the sums secured by this Security <br /> Instrument immediately before the taking, unless Borrower and Lender otherwise agree in writing, the sums secured by this <br /> Security Insirument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total amount of <br /> the sums secured immediately before the taking, divided by (b) the fair mazket value of the Property immediately before the <br /> taking. Any balance shall be paid to Borrower.In the event of a partial taking of the Property in which the fair mazket value of the <br /> Property immediately before the taking is less than the amount of the sums secured immediately before the taking, unless <br /> Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides,the proceeds shall be applied to the <br /> sums secured by this Security Instrument whether or not the sums are then due. <br /> If the Property is abandoned by Bonower, or if, after notice by Lender to Borrower that the condemnor offers to make an <br /> awazd or settle a claim for damages,Borrower fails to respond to Lender within 30 days after the date the notice is given,Lender <br /> is authorized to collect and apply the proceeds,at its opdon,either to restoration or repair of the Property or to the sums secured <br /> by this Security Inswment,whether or not then due. <br /> Unless7.ender and Borrower otherwise agree in writing,any applicadon of proceeds to principal shall not extend or postpone <br /> the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. <br /> 11.Borrower Not Released;Forbearance By Lender Not a Waiver. Extension of the time for payment or modification <br /> of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall <br /> not operate to release the liability of the original Borrower or Borrower's successors in interes� L.ender shatl not be required to <br /> commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of <br /> the sums secured by this Security Instrument by reason of any demand made by the original Bonower or Borrower's successors <br /> in interes� Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any <br /> right or remedy. <br /> 12.Successors and Assigns Bound;Joint and Several Liability; Co-signers. T'he covenants and agreements of this <br /> Security Inswment shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of <br /> paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security <br /> Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that <br /> Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums <br /> secured by this Security Inswment; and (c) agrees that I,ender and any other Borrower may agree to extend, modify, forbear or <br /> make any accommodadons with regazd to the terms of this Security Inswment or the Note without that Borrower's consent. <br /> 13.Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, <br /> and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan <br /> exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the chazge to the <br /> permitted limit;and(b)any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. <br /> Lender may choose to make this refund by reducing the principal owed under the Note or by making a d'uect payment to <br /> Bonower. If a refund reduces principal, the reducdon will be treated as a partial prepayment without any prepayment chazge <br /> under the Note. <br /> 14.Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it <br /> by fust class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or <br /> any other address Bonower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's <br /> address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Security <br /> Instrument shall be deemed to have been given to Bonower or Lender when given as provided in this pazagraph. <br /> 15.Governing Law;Severability. This Se�urity Instrument shall be governed by federal law and the law of the <br /> jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note <br /> conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be <br /> given effect without the conflicting provision.To this end the provisions of this Security Instrument and the Note aze declared to <br /> be severable. <br /> � -6R(NE)�s2�z�.o� Form 3028 9/90 <br /> � Page 4 of 6 �����a�s: <br /> v� <br /> 4' � • <br />