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<br /> t. paymcnis may nu lungcr be rcyuircJ. at �hc nptiun uf IAndcr. if�murtgugt in,ur,uirc covcra�:c lin thc amount and ti,r thc peri��l
<br /> that l.cndrr reyuires) providcd hy an insurcr tippruvcd by lAndcr i�guin hccumc,a��ailaMc unJ is obtainc�. Borruwcr shull pay
<br /> � the premiums rcyuircd�n maintain mortguge insuranrc in effcrt.��r to providc a lusti reservc, until the reyuircment ti�r mortgage
<br /> inwramc cnds in acr��rJancc with any writtcn agrecmcnt bctwcrn Burruwcr and Lcndcr or applicablc law.
<br /> ' 9, lnspcctlan. I.cndcr or it�iigcnt may nr.�hc rcuwnahl� cntric� up�m and insFxctions uf thc ProFxrry. l.cndcr shall givc
<br /> '?� tinrrower ni�tice�n the timc of ur prior tci an in+pection speriFying rca�imable cuuse for the inspection.
<br /> 10. Condemnatlon. Thr pnxreds uf uny uward ur cluim liir dumageti, direct or ron,eyuential, in cnnnection with any
<br /> �� cundemnati�m��r other iaking of any pan of the Pru�rty,or ti�r conveyunce in liru of condemnatiem. urr hereby assigneJ ;�nd
<br /> shull bc puid to Lcndcr.
<br /> ln the event��f a ro�al taking c�f the Proprrty,the prc�ceeds shull tk applied to the+ums secured by this Securiry(ntitrument,
<br /> whcther or nat then due, with any excess paid to &�rmwer. Gi the evem uf a par[ial taking of the Property in whi�h thc fair
<br /> '' marku vuluc of the Property immediately hefore the taking is cquul tn ar grcater thun the umount of thc sums secured by this
<br /> � Se�uri�y Instrument imm�iately before the taking, unless B�rrower and L.cndcr otherwitic ugrec in writing, thc sums secured by
<br /> �• this Security Instrumem shall be reduced hy the umount uf the proceuis ntultiplicd by the follu�ving fraction: (a) the totul
<br /> � umount of'thc sums secured immcdiatcly befnre the taking, divided by (b) the f;ur market vuluc of the Property immaliately
<br /> � before the taking. Any balance shull be paid to Borrower. In thc event uf a panial taking of the Pmperty in which the fair =
<br /> merket v;ilue of the Prnperty immecli:itely hefore the taking iti Iess than the umount of th�sums secured immecliately before the =
<br /> taking,unless Borrowcr and L.ender otherwise agree in writing ar unless applicable law othenvise providcs, the prcxeeds shall -
<br /> � be applied to the sums secured by this Security Instrument�vhether or not the sums are then due. -
<br /> If the Propeny is abandoneci by Borrower,or if,after noticc by Lender to Borrower thut the condemnor offen to make an
<br /> � award or setde a claim for damuges. Borrower fails to respond to Lender within 3Q days after the date the notice is given, _
<br /> Le.nder iti authorized to col Icct and apply the proceeds,at its option, either to restoration or repair of the Property or ro the sums
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<br /> , secured by this Security Instrument,whether ar not[hen due.
<br /> ' Unless l..c:nder and Borrower otherwise agree in writin�, any application of proceeds [o principal shall not extend or
<br /> � r. postpane the due date of thc monthly payments referred to in puragraphs 1 and 2 or change the umount of such payments. _
<br /> . 11. Borrower Not Released; Fort�earance By Lender Not a Wuiver. Extension of the time for payment or modification -
<br /> of umortization of the �ums secured by this Security Instrument granted by L.ender to any successor in interest of Borrower shall
<br />__- ___-__ _ not operate to release the liability of the orieinal Bonnwer or Borrower'c:ueeeccarc !n intcrc�t. Lersdcr sha!!not be required:o
<br /> ' commence proceedin�s against any successor in interest or refuse to extend time for puyment or otherwise modify amortizution -
<br /> .. �� of the sums securai by this Security Instrument by reason of any demand made by the originat Borrower ar Borrower's
<br /> successors in interest. Any forbearunce by Lender in exercising any right or remedy shall not be a waiver of or preclude the -
<br /> _._:�;;,-i ti;;l;" exercise of any right or remedy.
<br /> .�,... 12. Successors and Assi�ns Bound; Jo1nt and Several Llability; Casigners. The covenants and agrcements of this
<br /> -�� �� •:�`; Securi[y Instrument shull bind and benefit the successors and assigns of L.ender and Borrower, sub ect to the rovisions of
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<br /> -:,� _� ,� pnragraph 17. Borrower's covenants and agreements shall be jaint and several. Any Borrower who co-signs this Securiry
<br /> ����'`" �'��� , Instrument but dces not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that
<br /> -=L^'``"�" � Borrower's interest in the Propeny under the terms of this Securiry Instrumenk (b)is not personall obli ated to a the sums
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<br /> 1�;[',;��; secured by this Security Instrument;and(c)agrees thut I.ender and any other Borrower may agree to extend,modify,forbear or
<br />-� .r*�iy mnke any accommodations with regard ro the tcrms of this Securiry Instrument or the Note without that Borrower's consent. -
<br /> .� �"'�'�•' 13.Loan Char�{es,If the loan secured by this Securiry Instrument is subject to a law which sets maximum loan char es,
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<br /> ua�fyY����. and that law is finnlly interpreted so that the interest or other loan charges collected or to be collected in connection with the
<br /> —�::�uut�� loan exceeci the permitted limits, then: (a)uny such loan charge shall he reduced by the amount necessary to reduce the charge --
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<br /> -_���- to the permitteci limit; and (b)any sums already collected from Borrower which exceeded pee►nitted limits wi11 be refunded ro --
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<br />_ ° � a-; Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct
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<br /> "�"`�r • payment to Borrower. If a refund reduces principal, the reduction will be treated �.ti a partial prepayment without any -
<br />-��':��`s�� prepayment charge under the Note. -
<br /> _ "�__;� 14.Notices.Any notice to Bonower provided for in this Security Instrument shall be given by delivering it or by mailing
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<br /> _— -= it by first cluss mail unless applicable law requires use of unother method.The notice shall be directed to the Property Address "
<br /> _ "" 7 ,- or any other addrcss Rnrr�wer designates by notice to C.ender. Any notice to Lender shall be given by first class mail to °
<br /> �3" L,ender's address stateci herein or any other address Lender designates by notice to Borrower. Any notice provided for in this -
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<br /> ���'s�:;;',. Securiry Instrument shall bc deemed to have bccn given to Bonower or L.ender when given us provided in this paragraph. =`
<br /> -"'`��� .��'' 15.Governing Law; Severability. This Securiry [nstrument shall be governed by fcdcral law and thc law of the !-
<br /> �� �r�. jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or tlte Note
<br /> _ � conflicts with applicable law,such conflict shull not affect other provisions of this Security Instrument or the Note which can be
<br /> , given effect without the conflicting provision. To this end the provisious of this Securiry Instrument and the Note are declared �'
<br /> to be severable.
<br /> _ �" l6.Borrower's Capy. Bnrrower shall be given une cemfurmeJ ropy of the Note and of this Security Instrument.
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<br /> Form 3028 9/90 --
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