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<br /> !i at the option of l.ender, if mortgage insurance covcrage (in the amount and (or the period that I.ender rcquir�.9) ".
<br /> � provided by an insurer approved by Ixnder again becomes available and is obtained. Borrower shall pay the premiums _
<br /> reyuired t� maintain mortgage insurance in effect,or to provide a loss reserve, until the requirement for mortgage
<br /> � insurance ends in accordance with any�vrittenagreement between Horrower and Ixndr:r or applicable la��:.
<br /> 9. Inspection.I.endcr or its agent may make reasonable entries upon and inspectiona ot the Property.L.ender shell �a`_
<br /> ,,,;,�..�t� give Horrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. '�i_
<br /> �.w.-�'.� 10. Condemnition.'The proceeda of any award or claim for damages,direct or consequential,in connection with •,�_
<br /> eny condemnation or other taking of any part of the Property,or for convcyance in lieu of condemnation,are hereby }�_
<br /> I assigned and shaU bc paid to Lender. :r�����
<br /> '! In the event of a total taking of the Property, the praceeds shall be applied to the sums secured by this Security .:_.._�
<br /> j Iristrument,whether or not then due,with any excess paid to Borrower.In the event of a partial taking of the Property in • -
<br /> which the fair market value of the Property immediately before the taking is equal to or greater than the amount of the r:-.•�
<br /> sums secured by thia Security Instrumea�immediately before the taking,unless Iiorrower and Lender otherwise agree �___
<br /> ' in�vriting,the sums secured by this Security Instrument shall be reduced by the emount of the proceeds multiplied by �
<br /> � the following fraction: (a) the total amount of the sums secured immediately before the taking,divided by(b)the fair �:--
<br /> � market value of the Prapetty immediately before slie taking.Any balance ehall be paid to Borrower.In the event of a
<br /> � partial taking of the Property in tichich the fair market value af the Property immediately betorc the taking is less tha�n _
<br /> � the amount of the sums secured immecli�ately befare the taking,unless Borcower and Lender otherwise agree in wciting `
<br /> or unless epplicable law otherwise prol-ides. the proceeds eha9l be applied to the sums secured hy this Security
<br /> lnstrument whether or not the sums are then due. `;
<br /> �� If the Property is abandoned b3 Borrower,�r it,after notice by Lender to Borrower that the condemnor oftets to f;,"
<br /> �, make an award or settle a claim for damages. Aorrower fails to respond to L.ender Kithin 30 days after the date the �f-;;_
<br /> • notice is given,L.ender is autho�YZed to callect and apply the pruceeds,at its option,either ta restoratian or repair of the v
<br /> Property or to the sums secured bp this Security Instrument,whether or not then due. -
<br /> '" Unless Lender and Borrower otherwise agree in writing,any application of proceeds to principal shall not extend or �,
<br /> postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such "�'-
<br /> � payments.
<br /> 11. Borrower Not Relaased; Forbe�rance By Lender hot a Waiver. Extension of the time for payment or
<br /> -- -� modification oi amurii�ution �7i i,ic 3ui1lo'oCCit.'� �Jj Iti.3�L'.*:!;In�t*umPnt�rented by I.ender to any successor in
<br /> interest of Borroa�er shall not operate to release the liability of the original Borrower or Borrower's successora in
<br /> interest. Lender shell not be required to commence proceedings against any successor in interest or refuse •.o extend
<br />; . time for payment or othenvise modify amortizatian of the sums secured by this Security Instrum�nt by reason of any
<br />_- , '� ;� demand made by the original Barrorres or aonower's successora in interest.Any forbearance by Lender in exercising
<br />- . ,��. .` any right or remedy shall not be a wai��er of or preclude the exercise of any right or remedy.
<br /> 3' ' 12. Successors snd Assi�ns Bound;Joint aad Several Liability; Co-siaaera.The covenants and agraments
<br />_4 ` .. y,;.�',
<br />_ of this Security Instrument shall bind and benefit the successors and assigns of L.ender and Borrower, subject to the
<br /> s�': ' � • provisions of paragraph 17.$orrower's cnvenants and agreemen�s shall be joint and several.Any Bonower who co'signs
<br /> this Security Instrument but dces not execute the Note: (a) is co-signing this Security Instrument only to mortgage,
<br /> y� � ;; grent and convey that Borrower's interest in the Property undcr the terms of thie Security Instrumenc; (b) is not
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<br />,;�;�^,�: personally obligated to pay the sums secured by this Security Instrument;and (c) agrees that L,ender and any ot er
<br /> :uw:�..�r ,,, , Borrower may agree ta extend,modity,farbear or make any accommodations with regard to the urms of this Security
<br /> f�: ' Instrument or the hote without that Borrower's consent.
<br /> �' 13. Loan Ch�rges. If the loan secured by this Security Instrument is subject to a law which s�ts maximum loan
<br />''lM.,, ,}"��n
<br />-��•y.T�:�, charges, and that law is finally interpreted so that the interest or other loan charges collecud or to be collxted in
<br />=i":='��:Y;; cannection with the loan exceed the permitted limits, then: (a) any such loan charge shaU be reduced by the amount
<br /> .���-.��.. -. necessary to reduce tha charge to the permitted limit; and (b) any sume elready collected from Borrower which
<br />=-�` •"' ' exceeded permitted limits will be refundod to Borrower. I.ender may choose to make this refund by reducing the
<br /> �''�.'f���` principal owed under the Note or by making n direct payment to Bonower.If a refund reduCes principal,the reduction
<br />"�''�-;�'='' will be treatcd as a partial prepayment without any prepayment charge under the Note.
<br /> �,;�,, ---�
<br /> � . 14. Notices.Any notice to IIorrower provided for in this Security Instrument shall be given by delivering it or y
<br />-==ss•' � mailing it by firstclass mail unless applicable Iaw requires use of another method.The notice shall be:directcd to the
<br /> �'•, �.�"�` � ' Property Address or any other address Borcower designates by notice to L.ender.Any notice to Lender shall be given by
<br />_�, :.
<br /> 4 : first class mail to Lender's address stated herein or any other address Lender designates by notice to rrower. ny _
<br /> notice provided for in this 5ecurity Instrument shall be deemed to have been given to Borrower or I.ender when given _.
<br /> as provided in this paragraph. '
<br /> I S. Governiug Law;Severability.'This Sec:urity Instrument shall be governed by federal law and the law of the i
<br /> � ,��� jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the ��
<br /> Note conflicts with applicable la�v,such conflict shall not affect other provisions of this 3ecurity Instrument or the Note •;`
<br /> � which can be given effect without the contlicting provision."Ib this end the provisions of this Security Instrument and _
<br /> , � � the Note are declared to be scverable.
<br /> � FKm 702 "
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