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<br />payments may no longer be required, at the option of lender, if mortgage insurance coverage (in the amount and fc>r the period
<br />thaI Lender requires) provided by an insurer approved by lender again becomes available and is obtained. Borrower shAll pay
<br />the premiums required to maintain mongage insurance in effect, or to provide a loss reserve,until the ~uirement for mortgage
<br />insurance ends in accordance with any wrillen agreement between Borrower and lender or applicable law.
<br />9. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give
<br />Borrower nOlke at the time of or prior to an inspection specifying nllS(mable cause for the inspection.
<br />10. Condemnation. The proceeds of any award or claim for dimages, direct or consequential, in connection with any
<br />condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assig.~ and
<br />shall be paid to Lender.
<br />In the event of a total taking of the Propeny, the proceeds shall be applied tathe sums secured by this Security Instrument.
<br />whether or nOl then due, with any excess paid to Borrower. In the event of a pamal. taking of the Pro~rty in which the fair
<br />market value of thc Property immediately before the taking is equal to or greater than the amount of the sums secured by this
<br />Security Instrument immediately before the taking, unless Borrower and Lender otherwise agree in writing, the sums secured by
<br />this Security Instrument shall be reduced by the amount of the pT'OCttds multiplied by the following fraction: (a) the total
<br />amount of the sums secured immediately before the taking, dh'ided by (b) the fair market value of the Property immediatel):
<br />before the taking. Any balance shall be p;:id to Borrower. In the event of a partial taking of the PJIOpeny in which the fair
<br />market value of the Propeny immediately before tbe taking is less than T.he amount of the sums secu~ immediately befo~ the
<br />taking, unless Borrower and Lender otherwise agree in writing or unles.<; applicable law otherwise provides, the proceeds mall
<br />be applied to the sums secured by this Securi!y Instrument whether or not the sumo; are then dUe.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an
<br />award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given,
<br />Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Propeny or to the sums
<br />secured by 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 I and 2 or change the amount of such payments.
<br />II. Borrower Not Relea.'led; Forbearance By Lender Not a Waiver, Extension of the time for payment or modification
<br />of amortization of the SUlns secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall
<br />not operate to release the liability of the original Borrower or Borrower's suc..-essors in interest. Lender shall not be required to
<br />commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization
<br />of the sums secured by this Security instrument by reason of ltJ1y demand made by the original Borrower or Borrower's
<br />successors in interest. Any forbeannce 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; Joint and Several Liablllty; Co-signers, The covenants and agreements of this
<br />Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of
<br />paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who .co-signs this Security
<br />Instrumem but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that
<br />Borrower's interest in the Propeny under the terms of this Security Instrument; (b) is not personally obligated to pay the sums
<br />secured by this Security Instrument; and (c) agrees that Lender' and any other Borrower may agree to extend, modify. forbear or
<br />make any accommodations with regard to the terms of this Security Instrument or the Note without that Porrower's consent.
<br />13. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges,
<br />and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the
<br />loan exceed the permitted 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 from Borrower which exceeded permitted limits will be refunded to
<br />Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct
<br />payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any
<br />prepayment charge under the Note.
<br />14. Notices. Any notice to Borrower provided for in this Security Instrument 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 Propeny Address
<br />or any other address Borrower designates by notice to Lender. Any notice to Lender shall he given by first class mail to
<br />Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this
<br />Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph.
<br />IS. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the
<br />jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrumem or the Note
<br />conflicts with applicable law. such conflict shall not affect other provisions of this Security Instrument or the Note' which can he
<br />given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared
<br />to be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrumen!.
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<br />Fonn 3028 9/90
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