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<br /> payments may no longcrb�required.at th�optlon of I.,ender, if mortgnge insurance covcragc(in the amount and for thc period : r."'-`��.-
<br /> - � �hat Lender rcquires) provided by an insurer approved by Lcndcr again bxom�s available and is obcained. Bonower shall pay • '��'"'�''
<br /> the premiums required to main[ain mortgage insurance in effect,or ro�rovide a toss reserve,until the requirement for mortgage �.�,?-���_��
<br /> insurance ends in accordance with any wrltten agreement between Borrawer and Lender or applicable law. • �.--�.�,__„,�_
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<br /> •- 9. Inspection. Lender or its agent may make reasonable entries upoa and Inspec[ions of the Property. Lender shall give ,
<br /> '� Bonower notice at the tim�of or prior to an inspection specifying reasonable cause for the inspection. :r���y.:;�--�_�
<br /> 10. Condemnation. The proceeds of any award or claim for datnages, direct or conse9uential, in connection with any I � . �a;�, '
<br /> condemnatian or othcr taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and ���'`�•`''•'�� ' � �
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<br /> shall be paid to Lender. !�; � ' �.t t� .
<br /> •� • ' In the event of a to�al taking of the Property,the praceeds shtill be applied to the sums secured by this Securiry Instrument, i;y��fJ f?�_�-��
<br /> whether or not then due, with any eacess paid to Borrower. In the event of a partial taking o f t he P roperty in which the fair :���;�==
<br /> ' � market value of the Properry immediately before the taking is equal co or greater than the amount of the sums secured by this •"°��-
<br /> � Security lnstrumeat immediately before the taking,unless Borrowcr and Lender otherwisc agrce in writing,the sums secured by `"`___
<br /> chis Securiry InstNment shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the rotal _�
<br /> amount of the sums secured immcdiatcly before the �aking, divided by (b) thc fair market value of Q�e Property immediatcly �'"---
<br /> before thc [aking. Any balance shall bc pnid to Bonower. In the evenc of a partlal taking of the PropeRy in which the fair �_-_—
<br /> murkec v�lue of the Property immediacely before the taking is Iess than thc amount of the sums aecured immediately before thc --_
<br /> taking, unlcsa Bonower ar�d Lendcr athcrwiae agrcc in writing or unless epplicable law otherwiac providc�, tho procerds ehall _r'��
<br /> " �' be applied to the aums accured by thie Security In�tn�mcnt whether ar not the sums arc thcn duc. -=�.:.
<br /> If thr Propcny ia abandoncd by Borrowcr, or If,aftcr notfcc by I.cndcr to Bonowtr that the condemnor offcra to makc nn �_f.-�-
<br /> Aw�rd or acttic a clairn for damages, Borrawcr falls ta rc�pond to Lcndcr wlthin 30 daya after the daco thc noticc is givcn, �
<br /> �, Lendcr is authoriucl to collat and apply the prc�ceeds,nt fts optton, cither to restoration or rcpair af the Propeny or to the aums �'�=�-_-
<br /> secured by thls Sec:urity Instrumcnt, whcther or not then du�. �
<br /> � UNeas l.endor and Borrower othenvise agrce in writing, eny application of procads to principal sh�ll not extend or
<br /> __ �. poatpone the duc date of tbc monthly payments refcrred to in paragraphs 1 and 2 or change thc amount of such paymonts. _
<br /> 11.isorrower iva keie�sed;rocbearance�y iendcr iioi�i i'i'�f.e�. EAtensi�n��t,`�e timG for gaymcnt or mad scasian - • •
<br /> of amortizntion of the sums secured by thls Sxuriry Inatrument granted by Leader to any successor in interest of Borrower ahall -
<br /> �: not operate to relcase tlie liability of the original Bonower or Borrowcr's succcssors in interest. Lender shall not be required to
<br /> commence proceediags against any successor In intereat or refuse to exund time for payment or otherwisc modify arnortization ��=
<br /> of the sums secund by this Securiry Instrument by reason of any demand made by the orlginal Boaower or Borrower's
<br /> ' successors in interest. Any forbearance by I.ender in exercising any right or remedy ahall not be a waiver of or preclude the _ _.
<br />- '� exercise of any right ornmaly.
<br /> • 12. Successors and Assigag Bound; Joint and Several Ltability; Casignera, The covenants and agreements of this _.�
<br /> . Security Insuument sh�l bind aad benefit the successors and assigns of Lender and Sorrowor, subject to the provisions of
<br /> - paragraph 17. BorrowePs covenaats nnd agreements shall be joint and several. Any Borrawer who co-signa this Security
<br />_ Instrumcnt but does not axxute the Note: (a) is co-signing this Secudry Instrument oNy to mortgage, grant and convey that
<br /> �•. ;���,�°,;��;,�� Borrower's Interest in the Property under the teru�s of this Securiry Instnunent; (b) is not personally obligated to pay the sums
<br /> . ' 3ecured by this Securiry Instnument; and(c)agrees that Lender and any other Bonower may agree to extead,modify,forbear or
<br /> . , ; �•':� make any accommodatlons wlth regazd to the terms of this Securlty Instrument or the Note without that Borrower's consent.
<br /> �� .'�-..;: 13.Loan Chsrgd. If the loan sectuYd by this Security Instrument is subject to a law which seu maximum loan charg�s,
<br /> � and that law is finally interpreted so that the interest or other loaa charges collected or to be wllected ia connection witb the
<br />.,,, , loan exceod the pemnitted limiu,then: (a)any such loan charge shall be reduced by the amount necessary to reduce the chazge `_
<br />-. to the permittallimit;and @) any sums already collected from Bonower which eacaded permitted limits will be refunded to -_
<br /> � Borrower. Lender may choose to make this refund by reducing thc principal owed under the Note or by making a direct .�_-
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<br />—;-, � • � payment to Boaower, If a refund reduces principal, the reduction will be treated as a partial pnpayment wiWout any �-
<br />_�'''"�4.,.��t'•;, prepayment charge under tbe Nota
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<br /> =-��•"�:�:,';' 14.Notices.Any aotice to Borrower provided for in this Securiry Instnunent shall be given by delivering it or by mailing =
<br />-.. �'' it by first class mail unless applicable law requires use of another method.The notice shall be directed to the Properry Address ,";� --
<br /> '�.�'�'��� or eny other addnss Eonower designates by notice to L.ender. Any notice to Lender ahall be given by first class mail to -- -
<br /> Lender's uddress stated henin or any other address Lender designates by notice to Borrower. My notice provided for ia this '"�__���
<br /> � Secur(ry Insuument sball bc deemed to have becn givcn to Borrower or Lender when given as provided in thia paragraph. �;'��?�'�'�"���==
<br />- " 15.Governing Law; Se�erab[lity. This Securiry Instrument shall be governed by federal law and the law of thc � ���"
<br /> jurisdictioa ia which the Property is located. In tho event that any provision or clause of this Securiry Instrument or the Note
<br /> confliots with applicable law,such conflict shall not affect other provisions of this Securlty Instrument or the Note which can be �,���__:, �'"
<br /> iven effect without the conflictin rovlsion. To this end the rovisions of this Securi Insuument and tho Note are declarcd �'�°'�""�'^""'-�
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<br />- to be severable. '� i 1�`
<br /> 16.Borrower's Copy.Borrower shall be given one conformed copy of the Note aad of this 5ecurity Instrument. ���R�:;-•:;,p.V
<br /> Form 3028 9/90 �
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