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<br /> � x;Y . • puymcnts miry ni�li�ngcr be rcquircd,ut thc opti�in ol' LcnJ�r,it�inung;►gc litiurimrc covcri�gc m thc am�iunt und for thc�ricxi
<br /> ?�" �• , • thut Lendcr rc utntil ruvidcd b un insurcr u ri�vcd h l.�ndc�u uin bcromcs uvuilublc und i�obtuincd. &rrraµ•cr shull i
<br /> 1•. , �,.. 9 � '• P Y PF� Y S � P�Y
<br /> "`'"�. ? thc pretniums rcquircd tn mc�intuin mortbugc in�uri►ncc in effect, ur tn prcrvidc ai lotis n;scrvc,until t�c rcquir�ment for m��rtgiigc
<br />�_:z:.�,;• �j in,urunce ends in nccardunee witli any written agreement hetween Borrower und I.ender or upplicable luw.
<br />- '`'�''`' !; � . 9. InspecUon, l.�ndcr��r its ugcnt may makc re:t�onublc entrics u�m and in�pcxtions��f thc Propert}•. Lcndcr �hall givc
<br /> Borrower naticc ut the time of ar prior to an inspertion speci fying reasonuble cuuse far the inspectic�n.
<br /> � '` 10. Candemnatlon. The proceeds of any uward or cliiim fi�r dumages, direct o� conseyuential, in con:tiection with ;my
<br />"�� condcmnution or othcr taking o(any pan of thc Pro n ,c�r for ronvc ancc in li
<br />,'r• � P� Y y cu cf condemnati�m, arc hcrcby assigncd und
<br /> shull be paid to Lendcr.
<br />-�"""� n . In the event of a total taking of the Pmperty, the pnxi;eds shull be:applied to the sums secured by this Security Instrurr►ent,
<br />_ ' "�";� whether or nnt then due, with ary rxcess paid to Borrower. !n the event of a partiitl taking of the Property in u•hich the faie
<br /> : market value of thc Property immediately before thc taking is eyual to or gnater than thc amount of thc sutns secured by this
<br /> `` " '�` ' Security Instrument immediatcly beforc the taking, unless Bc�rrower and Lcnder otherwise a rce in writing,the sums secured by
<br /> _�;�'. :.,�.: s
<br /> ;;,,.t,;��,u. this Security Instrument shall be reducul by tlie amuum of th� proceeds multiplied 'oy the fallowing fractiou: (a) the tatal
<br />_=�:_;�i`z , umount of the sums secured immediately 6efore the taking. divided by (b) the fair market value of thr. Property immediately
<br />_�>,;._L� `� before the taking. Any balunce shall be paid to Borcower. In the evcnt of a panial taking of the Property in which the fuir
<br /> .,r ,,;�; market value of the Prupeny immediately before the taking is less than the umaunt of the sums secured immediately before the
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<br /> s;,^d?•L;,._. . G7JCI11�*, unless Bonower and I_,ender othcrwise ugrec in u•riting ar unless applicable law othcnvisc provides, the proceeds shull ���
<br />"'':;%��`�y bc applied to the sums secured by this Security Instrument whether or not the sums are then due.
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<br /> � If the Property is ubaixloned by Borrower,or if, after notice by L.ender to Barrower that the condemnor offers to make xn
<br />-�' �''"''� � awurd or setde a claim far damages. BoROwer fails to respond to lxnder within 30 days after the date the notice is given,
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<br /> --�°'��� I.ender is uuthorizcd to collect and apply the procceds, at its optian,either to restoration or repuir uf the Pmpeny or ro the sums
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<br />�::':w;,'� secure:d by this Security Instrument, whether or not then due. --
<br /> "`""''��t" UnleSS Lender and Bc�nower othenvise agree in writing, any upplication of prc�ceeds to principal shall not extend or
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<br />-�-'=�"A' _ postpone the due date of the monthl a ments referred to in paragraphs 1 and 2 or chunge the amount of such payments.
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<br />�o'��^s- I1.Borro�ver Not Released; Forbearance I3y Lender Not a Waiver. Extension of tlic time for payment or modification
<br /> .^.
<br />_,,,�,�, ., of amortizntion of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall
<br />;:,V'°' not operatc to relcase thc liability of the original Borrowcror Borrower's successors in interest. Lender shall not bc required to
<br /> commence proce�iin�es against any succeccor in i�s�resi or sefose to cxtcn�tim�Far payu,e��i ur oinerwise modify amortization �
<br /> _,�'¢',�„�,� of the sums secural by this Securiry Instrument by reason of nny demand madc by the original Bnrrower or Honower's
<br /> __,ryJ� successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the
<br />--- ----�� exercise of any right or remedy.
<br /> '--°`�"" 12. Successors and Assigns Bound; Jaint and Severul Llability; Co-stgners. The covenants and ag�ee.ments of this
<br />�,'�?�, Securiry Instrument shaU bind and benefit the successors�nd ussigns of Lender and Borrower, subject to the provisions of
<br /> —� paragraph 17. Borrower's covenants and a£reements shall be joint and several. Any Borrower who co-signs this Security
<br /> _= Instrument but does not execute the Note: (a) is co-si�ning ehis Security Instrument only to mongage, �rant and convey that
<br /> __ Borrower's interest in thc Property under the term� of this Security Instrument; (b) is not personally obligatod to pay the sums
<br /> sc:cured by this 5ecurity Instrument; and(c)agrees tliat Lender and any other Bonower may agree to extend,modlfy,forbear or
<br />�Q;�,� ma�Ce any accommodatians with regard to the terms of this Security Instrument or thc Note without that Borrower's consent.
<br /> _ _ 13. LoAn Chacges. If the loan secured by this Security Instrument is�ubject to a law which sets maximum loan charges,
<br /> and that law is tinally interpreted so that the interest or other loan charges collected or to be collected in connection with the
<br /> loan excced the pe�mitted limits, then: (a)any such loan charge shall be reduced by the amount necessary to reduce the charge
<br /> to the permitted limit; and (b)any sums already collected frorn Borrower which exceeded permitted limits will be refunded to
<br /> Bonower. Lender may choose to make this refund by reducing the principal owed under the Note or by muking a direct
<br /> payment to Borrower. If a refund reduces principal, the reduction will be treateci ati a panial prepayment without any
<br /> , -v prepayment charge under the Note.
<br /> --� 14. Notices. Any notice to Borrower provided for in ihis Security Instrumeut shall be given by delivering it or by rnailing
<br /> ----- it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address
<br /> or any other address Borrower designates by notice to Lcnder. Any notice to Lender shall be given by first class mail to
<br /> - �-�- L.ender's address stated herein or any other address Lender designates by notice to Borrowcr. Any notice provided for in this
<br /> , Security Instrument shall be dccmed to have been given to Borrower or L.ender when given as provided in this paragraph.
<br /> - ; 15. Governing Law; Severability. This Security Instrument shall be govcrned by fecieral luw and the law of the
<br /> _' juriscliction in which the Property is located. In the event that any provision or clause of tl�is Security Instrument or the Note
<br /> �_ --__ conflicts with appl icable law,such conflict shall not:tffect other prrnisions of this Security Instrument or the Note which can be
<br /> °�=�� given effect without the conflicting provision. To this enci the provisions of this Securiry Instrument and the Note are derinred
<br /> --.���� to be severable.
<br /> -��" ° 16.Borrower's Capy. Borrower shall be€iven one conFormed co�y of the Note and of this Security[nstrument.
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<br /> - "=�=�`*'.`�. Form3028 9/90 —
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