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<br /> substantislly equivriene nwrtgage insurance covcrage is nat uvailuble. Borrower shall pay to Le�xier each month a num equal ta
<br /> one•twelRh of lhc yeatly itxirtgage insurance premium being paid by t�rrower wt,en the insurunec ec�veragc lapsed or ceased to
<br /> t►e in effect.L.encler will accapt,use a�xi retain these paynknts as a bss rexrve in lieu �f mon�uge insurance. l.�ss reserve
<br /> paynMntw nwy iw longer tu re�uir�xt,�►t tha aptinn of l.cnder, if mortgage� in�urimcc coverc+ge(in thr ri�trount nncl for the periad
<br /> ►hut lxixler rcyuirc�)pruvidccl by a►n ii�surcr a►ppr�veci by Lcnder us:�m bemmes nNUilnble nnd fs ahtained. Borrawer shall pay
<br /> the preroiums rcquired to maintain mortguge insurunce in effcxt,or to providc a Inss reservc,until thc rcyuirenxnt for nwrtguge�
<br /> insw•unce cixls in uccordunce with�iny written ugrcenxnt 6etween k3�rrower and L.ender or npplicable luw. y
<br /> 9. Inspection. l.��xlcr or iis ugcnt may n�ake rcasonublc entrics u�wn and inspcctinns of thc Proacrty. Lcncler shall give�
<br /> 13��rruwer nolice ut the tiuie of��r prior to an inspcction specifying reusonable cau�:f��r thc inspection.
<br /> 10. Condemn�tN►n. Tho proceals of uny award or clu�m for da�izages, direct or ronsequentiui, in connection with uny
<br /> candemnation or��ther tukin�of any pan of the Property,or for conveyunce in lir.0 of cnndemnation, are hereby assigneci andO
<br /> shull bc paid to I.c�xtcr. `
<br /> In the event of a totul takl�ig of thc Property,the procceds shall be uppli�d to thc sums sccured by this Sccurity Instrument,
<br /> whclher or ncit then duc, with uny excess p.�idl In 4�orrawer. In the event of a partiul taking of the Property in which the fai
<br /> murkct vuluc of thc Pn�perty immcdiutcly b:fova thl;tak�ng is cqunl to or grcater thnn thc amaunt of thc sums scxured by thi
<br /> Securiry Instrument imm�liately before the tukwr�R, unlehs Bottowcr and L.endcr othenvise agree in writing, thc sums s�urcd b
<br /> this Security Instrument shall be reduceci by the c�r�aun!uf the proeeods multiplied by the following fraetion: (n) the total
<br /> amounc of the sums secured immediutely before th�:takinc,, divided by(b)tlie fair ma�ket valuc of the Property immediately
<br /> befare tht takir�4. Any balancc sh111 bc paid tc�Ba�rower, ln tiY event of a partial tnking of the Propr-rty in which the fair
<br /> market value of ti�t Property immediutely bef�fe the u+king is Icss th�n tty:amount of thc sums sccurr.d immediately before thc
<br /> taking, unless Borrawcr and Lcndcr atherwise agrec in writing or unlas applicable luw otherwise provides, the pmceeds shall
<br /> be appliexl ro the sums secured by this Security Inatrun�:nE wla:ther or �wt the sums are then due.
<br /> If the Property is abandoned by 9orrow•er,or if,aftrs RK�tice by Lender to Borruw�er that the condemnor offers to make aa
<br /> award or scttle a claim for damages, Barrower fails ro re��nd to 1-ender within 30 days aftcr the date tlie notice is given,
<br /> Lender is autharir.ed to collect und upply tb:proceeds,at its optiun,�ither to restoratlon or repair of the Property ar to the sums
<br /> sa:urrd by this Security Instrument,whetfiar nr nat thc�n diw..
<br /> Unless Lender and Borrower otlxxwise �qree tn a'riting, any uppiication uf p��o�:eeds to prir�cipal shall not extend or -
<br /> postpone the due date of the monthly payments referrod to in paragraphs 1 and 2 or chanse the amount of such payments.
<br /> 11. liorrower Not Released; Forbesrnnce By I.r.t�dcx iVot A Walver.Excension of the time for payment ar modificatiai
<br /> of amortization of the sums secured by this Security lnstru+r�:nc gr,mYcYJby Lender to any successor in intemst of Borraiver shall
<br /> not aperate to ral�ase the iiability of thc original Borrow•cr c�r iiorrowci� successors in intcrest. Lender shall not be�.'quir�ed to
<br /> conimence proccrxlin%s aSainst any successor�n�nterest or refuse to ext��rl time for payment or otherwise modify nmarti�atioa
<br /> uf the sums sccurcxl by this Security Instruxnent by mason af any demand made by the originae Borrower or Borrower's
<br /> successors in interest. Any forbearance by Lerxler in ex�cclsing any right ur remedy shall not be a wniver of or preclude the
<br /> exercise of any right or remedy.
<br /> 12, guccessors rnd As.gigns Bound;Joint and 5trerAl Llablllty; Co-sig�ers. The covenants nnd agreements of thls
<br /> Security Instrument shaU bind and benefit the successors and assigns of I.ender and Bonower, subject to the provisions of
<br /> paragraph 17. Borrower's covenants and a�oements shull be joint end several. Any Borrower �vhu casigns this Security
<br /> inx�rument bnt dces not execute the Note: (�) is co-signing this Sec:urity Instrument only to mortgAge,g��r►t and convey that
<br /> Borrower's interest in the Propeny under the terms of tbis Secunty Instrument; ioj is noi pcc�u�wiiy o`vli�ate3 i� ay thc sutns
<br /> secured by this Securit�Instrum:i�t;and(c)agrees that Lender and any other Borrower r►�y agree to extend,modi�y, fatfiear or
<br /> make any accommodauons wi�h rn.�ard to the temis of th�•S�'curity Insin�ment or tho Note without that Bonower's cansent.
<br /> 13. Lonn Charges• If tt►e lorrn secured by this Secunty Instnrment is subject to a!aw which sets maximum loan charges,
<br /> and that luw is fin.�lly interpreted so that th: interest or other loan charges collected or to be collncted in conneciion with the
<br /> loan exceed the p:rts*m:tted linuts,then: (a)ar,�,v such loan chai•ge shall be reduoed by the amount neaEUary to roduce the chuge
<br /> to the permittai limit and(b)any sums alra�c�ly collected from Borrower which excea�ad permitt� limits will be rtfu�xkd to
<br /> Borrow�er. L.ender may choose to make this rcfund by reiiucing the principal owal undor the Nate or by malcing a direct
<br /> payment to Borrower. If a refund reduces princip�l, the reduction will be treatod as a paztiel prepayment without any
<br /> prcpayment charge under the Note.
<br /> Id.Notiaes.Any notice to Boirower provided for in this 5ecuriry Instrument sball be given b}r dclivering it or by mailing
<br /> it by first class in1i1 unless applicable law roquires use of another methai.The notice shall be diriecCeB to the Pcoperty Addres�
<br /> or any other address Banower designates by notia to Lender. Any natice to Lender shall be gia�en by first class mail ta
<br /> Lender's eddress stated herein or any other address Lender designatcs by notice to Barrower. Any notice providod for in Ihis
<br /> Security Instrument shall be doemed to have been given to Borrower or Lender when gaven as providecl in this paragrnph.
<br /> IS.Governing I.Aw; Severabflity. This Security Instcument shall be governed by federal law and tfie taw of the
<br /> jurisdictian in whach the Pmperty is located. In the event that any provision or clause of this Sccurity[nshumtnt or tlie Note
<br /> conflicts with applicable law,such conflict sh.xtl not affoct other provisions of this Security[nstnunea�i or the Note which can be
<br /> given effect without the confliding provision. To this end the prov�sions of this Security Instcument w�d the Note ara declai+ed
<br /> to be severable.
<br /> 16.Borrower's Copy.Borxower shall t►e given one conformad copy of the Note and of this Securiry Instrument.
<br /> 17,Trans[cr of the Property or a Bcnefldal Interest(n 8orrower.If all or any pan of the Property or Any intcrest in it
<br /> is sold or transferred(or if u beneficial interest in Bonower is sold or transfened and Borrower is not a natural person)without
<br /> I.ender's prior written cansent, Lender may, at its option, r�quire i�runediate payment in full af all sums secured by this
<br /> Secvrity Insttument.However,this option sh:ifl not be exercised by Lendcr if cxercise is prohibited by faleral law as of the datc
<br /> of chis�uriry Instrument.
<br /> If I.ender exercises this option.Lender shall give Borrower notia of acceleratiuri. The notice shall provide a period of not
<br /> tess than 30 days from the date the naticc is delivcrcd or mailed wi�hin which Borrawer must pay all sums secured by this
<br /> Security Insttument.if Borrowcr fails to pay these sums prior to the ezpiration of this period. Lender may invoke any remodies
<br /> pem�ittcd by this Sccurity Ins�rument without further noticc or dcmand on Bonowcr.
<br /> 18. Horrower s Right to Reinstate. If Borrower meets certein conditions, Borrower shall have the ri�ht to have
<br /> enforcement of this Sa:urity Jnstrument discontinued at any time prior to the earlier of: (a) 5 dnys (or such other period as
<br /> applicable law may specify for reinstatement)before sale of thc Property pnrsuant to any power of sale cox�t�+ned in this
<br /> 5ecurity Instrwncnt;or(b)entry of a judgment enforcing this Security Instrument. Thase conditions are that Borrower:(a)pays
<br /> Lender all sums which then would be due under this 5ecurity Instrument nnd the Note as if no aceeleration had occurrcxl;(b)
<br /> cures any default of uny other covenants or agreements: (c)pays all expenses incurred in enforcing this Secnriry instrument,
<br /> including.but not limiteci to, reasonable attorneys' fees;and(d)tulca such action as Lender may �easoaably require to assure
<br /> thnt the lien of this Security Instrument. Lendcr's rights in the Propeny and Borron�er's obligation to pay the sums securai by
<br /> this Security Instrunxnt shall continue unchanged. Upon rcinst;itcment by Borr��ver, this Security Instrument and the
<br /> _�.�:..�.:,......�.....� I.owl...oF.ol/.nmoin fiillv ..ff��tivn ac if nn nccelemtion hIId oCCUirCd. HUwOVCr, this ri�ht to reinstute sh;ill
<br /> vvuga......o.�...,............._.� ......_..�.._.'• '_"+ -••--'- - .. .
<br /> not apply in the casc of accelerativn under paragrnph 17.
<br /> l9. Sale of Note; Change of Loan Scrvicer. The Note or a panial interest in the Note (together wich this Security
<br /> Inswmcnt)may Ix sold une or more times without prior noticc to Barrowcr. A sale may result in a change in the entity(knowu
<br /> as the"Loan Scrvicer")that collects monthly payments due under the Note and tliis Security Instrument.There alsn may be one
<br /> ur more changes of the Loan Scrvicer unrelated to u sale of ihe Note.If there is a chan�e of the Loan Servicer,Borrnwer will be =
<br /> given written noticc uf Ihe rhange in accordanee with para�raph l4 slwve cuid applicab e law. The notice will state the name and -
<br /> address of the new Loan Scrvircr und thc address to whirl�payments.r•hould bc madc. The notice will ulso contain any other
<br /> informutirm requircd by applicxblc law.
<br /> Z0. Hs�rardous Substwnces. �ormwcr shall not cause ur permit thc prescnce, usc, dispos:►1, swr�ge,or releasc uf any —
<br /> Ha•r•rrdous Subawnres on ur in the Propeny. k3orrowrr sh;►II nut do, nor allow anyonc else to du, any�thing affccting the _
<br /> Property that is in violation of nny �nvirun►:untal law. 'Che preceding two sentcnces shal! not aNply to the prescnce. use. or -
<br /> storage on the Prapcny of small yuantitics of H;uardous 5ubstsnces thut are gencrally rccognizcd tu be appropriate to numial
<br /> rcsidcntial uses a�xf tu maintcnance uf thc Pmperty.
<br />— Po90 J o�4 Form 3028 9/90 —
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