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<br /> p�ymen�s m�y nu lon�er be ra�ulraf,�t the optlon of Lender, if marlgage insurance coverage(in the amount�nd for the perickl
<br /> that I.endar rcquim)provided by�n insurcr approvesi by Lender again bec�mes avnilable and(s ob�ained. Borrowcr sh�ll p�y �p
<br /> ihe prcmiums required to mAint�in mong�go Insur�nce in cffect,or ta providc a loss reserve,umil the requircment for mangage Oa
<br /> insurance rndi in accordance with any written agreemcnt bctwcen[iorrower and l.cndcr ur applicable law.
<br /> q, Insptctiun. f..ender or Its agent mey n►ake reasonable entries upon and inspcct[ons of the Propeny. L.endcr shall give �
<br /> Borrawer m�tfcc�t the dine of or prior ao an Inspection speclfying reasanable cause for the inspection.
<br /> 10. Condemsdlon, The procoeds of a�y nward or claim for damages, direct or consequential. in connection wi�h w►y
<br /> cor.!temnntion or o�her taking of any part of the Property,or for conveyanc�in lieu of cundemnatlon, are hereby assigned and `
<br /> shall be paid to Lender.
<br /> In the event of a tatal t�icing of the Property.thc proceeds shall be applied to th�sums secured by !hls Securiry Instrument, � _
<br /> whether or no[then due, with �ny cxcess paid to Ronower. In the event of a partial taking of the Propeny in which the fAlr
<br /> market value,of the Propeny immediatcly befoce the taking is equal to or greatcr th;ui thc amount of the sums securcd by this
<br /> Securi[y Instrument immedia[ely before[he tAicing, unless Borrower and Lender othorwist agra in wricing, the sums securcd by
<br /> this Security Instrument shall be rcduced by the amount of the procads multiplied by the following frxtion: (a) the total
<br /> atnount of tQe sums secured immediately before the taking, divlded by(b) the fair ma�ket value of the Property immecliatalY
<br /> before the taking. Any balancc shall be paid to Borrowet. In thc evcnt of a partial taking of the Pmperty in which �hc tair
<br /> market value of thc Praperty immediately bcfoie che taking i�less thArs the amoLnt of the sums secured Immodiataly before the
<br /> taking. unless Bonower and Lender otherwise agree in writing or unleu applicable law othetwisc provides,tha pcocoeds shall
<br /> �e applisd c�che sums socured by this Secudty[nstcumcnt whethcr or not the sums are then due.
<br /> !f the Prop�rty is abandonai by Barrower,or if,after noticc by Lendcr to�flc!ower thet the condemnor offers to make an —
<br /> award or seulc a claim for damages, Berrov�er fxils to nspond to Lmdcr within 30 days after the datc the n otr t th e ums -
<br /> L.,ender[s authoriud to collect and apply the procads,at its option,either to restoration ar repair of the f'roperty
<br /> secured by this Security Lnstcument,whether or nat then due. lteation of roceeds ta pdncipal shall not extend or
<br /> Unless l.ender �id Bonower otherwise agree in writing, any app� P _
<br /> postpone the due date of the monthly papments referred to in puagr�phs L and 2 or change the amounc of such paymencs.
<br /> 11.Sorrower Not Rdes�sed;Fc►r6enrance B71.eader Not a WtJver.Extensian of the time far payment or modification
<br /> of amonization of ths sums sec:u�ed by this Security lnstrutnent granted by L.ender to any successor in interast of Borrower shall
<br /> not operatc to release the li�bility af the originat Bonowcr or Borrowcr�successors in intcrest. Lender sh�ll not be reyui�od to
<br /> comnx;nce pioceedings�g�inst any successor in interest or refuse to extend ti�ne for payment or otherwise modify amo�t►za►ion
<br /> of the sums secucod by chis Security Inscrumene by reasan of any demand made by tho original Bormwer or Borrower's
<br /> successors in interest. Any forbeuanco by l.ender in eaercising any right or remedy shali nat be a waver of or prsclude the
<br /> eac�isc o.°�,y right or rtmtd;.
<br /> Co-signers. 7'hc covenanw and agRCrucir��f this
<br /> 12. ��ra ppd Assigc�s Bound; Jolnt and Several Llability;
<br /> Security lnstrument shaU bind and beneCt the successors au►d assi6ns of Lc:nder and Borrower, subjeci ta the pmvisions of
<br /> paragr�ph I7. Borrower's covenants and agreements shall be joint and uvcral. Any Botrower who co-signs this Secudty
<br /> Instrumenr but dnes not eaecute the Note: (a) is ca-signing this 5ecurity inscrum�nt only to mortgagc, grant and canvey that _
<br /> Borrower's intenst in the Property under the cerms of tliis Security Instrumen[;(b)is not personally obligated to pay�he sums
<br /> secured by this Security Instrument;und(c) agras that l.ender tmd any other Borrower may agcee ta extend, mafifjr,forbe�u or
<br /> ma]ce any aceommodations with rcgard to thc torms of this Security[nstrument or�t►c Notc wlthou►that Bonower'�:��nsont.
<br /> 13.l.oan Char�es. If the loan.securcd by�his 5ecucity Insm�mcnt is subject ta a law which sets mnximuttlloan�hwrges, _
<br /> and that law is finally intecpreted Ro that the interest or other loan charges coUected or to be collocted in connectian with the
<br /> loan excced the permitted limits, �ben: (a)any such loan charge shall be reduced by the amount necessary co reduce the chArge
<br /> to the permictod limir,and(b)anY sums already collecced from Borcower which execeded per�nitted Umits witl be rftunded to
<br /> Borrower. I.ender may choose to make thia reftind by reducing the principal owed under the Nate ora����oua�any
<br /> payment to Borcower. !f a ret�tnd reduces py'incipa�, the reduction �vill be treated as a putial PreA Y
<br /> pitipayment charge under the Note.
<br /> 14.Nufices.Any nottce to Borrower provided for in this Securlry Instrument shall be given by delivering it or by.mailinB
<br /> ft by first closs mail unless applicable law requlres use of another mdhod•'the notice shall be dlrected to the Property-Addtes�
<br /> or any other address Barrower designates by notice to Lender, Any notice.to Lender shall be given by first clas� t�tatl to
<br /> L,ender's adAreu staced herein or any other addnss Lender dcsignates by notice to Borrower. Aay notia pro��a�d for in this
<br /> Socurity lnstrument shall be deemed to have been given to Bonower or L.endcr when given as provlded in this paragcaph•
<br /> ; 15.Governing Law; Serembility. '['his Sec:urity Instn�ment shall be govemcd by federal law and thc inw of thc
<br /> jurisdiction in which the Propeny is located. In the tvent that any provision or clause of this Security insttument or Ihe Note
<br /> conflicts with applic��ble law,such coc►flict shall not affect other provisions of this Security[nst�umcnt or thr.Note which can be
<br /> given effect without the confl[cting provision. Ta this end the provisions of this Security Instrument and the Note ars declarcd
<br /> to be se�erable.
<br /> 16.!brrowa''s Copy.Bc��Wer shall be given one conformed copy of the Note and of thls Security Instrument.
<br /> Form 3028 9I40
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