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<br /> � ��" ,�',=`� . substantially equivalent mortgage ifl�amisre roveraSe is nat availablc.Born��ver�hall pay tu Lender eash month a aum equal to °
<br /> : ��. one-taelfth of the yearly mortgage insUrance ptentium bcing paid by Barro�cer w�hen the intiuranre�r�•erage lapsed or cc�a.�ed to ..k.�. . ,
<br /> �` � ` ' be in effect.Lendes�vil�acceW•�'�e�►d re���payment.as a loss re�en•c in lieu af mungage in+aramY. I-oxs m-,erve , ,` ;�
<br /> "' � ' payment�may no long�r be reyuired,at thc optioa af Lender,if murtg�ge insurance cocerogc lin the ama�nt and for the period ,�,._':.. ;,
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<br /> ' th:►c l.ender roquiml pmvided by an insurev approved by Lender again becomes available and i�ubtained.Bl2lT�µ�Ci SIli1II pbY :,:.V,:,�
<br /> ` ' the premiu�cequirwi tu maintain mortga�e insttrance in effect,or to pmvide a loss reser�'e•until the reyuireinent fi�r mortgage� .. * ,, .
<br /> ���� ieisurance ertds in acccirdance with:ury«•ntten agreem�nt between Borro�cer and Lender or appticabte.law•. .. :
<br /> ;.�`z,:`.� 9,Inspectton.Lender or its agent may malce reasonab�e entriea uQan and inspections of the Property. Lender shal!give 1 , .
<br /> �• •�_., �- • Barn��ver notice at the time of ar prinr to an inspection specifjing rea+onable rause for the inspe�xion. � .�*�
<br /> ' � ` L0.CondemnaH�n.The proa�eds of any award ar claim for dam•rge�+. di�ct or conseyuential. im m�nectiun with any Q '�.�. ;�-.�
<br /> �r :. .' ,44.
<br /> , � candemnatiun or other taking uf an�part of the Pmpeny.�r for convcyance in lieu of a�nde�nQati�n.are hereby assigned and�
<br /> � �•. �` shall be paid to Lcnder. .
<br /> ` In the event of a total taking of the Property.the proceeds shall be xpplied ta the sumy securai by this Securi[y lnswment.�
<br /> _-.��_=�. �vhetker or not the»due. with any exces+paid to Borrower. In the event of a panial taking of th�Pr�nperty in which the fuir •_-'k., _�
<br /> �°�-� market value af the Property immediately before the taking is equaf to or greater tl►an the amoant of thc sums secured by tlus
<br /> � `'` Security Instrument immeciiateiy be[om the r,dcing,unless Bonower and Lender otherw i,e agree in writing,the sums secured by '_;�'..
<br /> _,- .L � R' � ..
<br /> ` ' this Security Instrument shall be raiuceii by thc amount of[he pm��eeiis multiplied by the follo�ving fraction: la).the tata! ,; •�
<br /> �'� ainaunt of the sums cecured inunediatety before the taking. divided by (bl the fair market value of the Property immediately
<br /> � ` � ��� before tiie talcing• Ar►y balance shall be paid to Borruwer. In the event of a partial taking of the Property �n whicb the fair ,;�a.,.
<br /> market value of the Praperty immediate�Y 6efore the taking i,less than the amount of the tium,secured immediately before the �. `;_
<br /> ` • tal:ing,unless Borrower and Lender otherwise agree in writing ar untess applicabEe law othenvise provides, the proceeds shall =.,
<br />- '',x.�.�,'�� �` be applied to the swns secnred by this Security Inst�umeat whether or not the sums are then due. .z�_�=
<br /> � If the Propercy is a6andoned by Borrower. or if,after notice by Lender to Borrower that the wndemnor offers to matce an ,
<br /> :,,I�. award or setcle a claim for damages. Bosrower fails to respond to Lender within 30 days after the date the notice is given, �:....',
<br /> [.ender is authorized to collect aad apply the proceesls.at iu option,either to restorarion or repair of the Fmperty or to the sums
<br /> r `�: ,��d fyy tt�is Secvrity Ins[rument,whether or not then due. t��Uan of roceeds to rinci shall not extend or ,...-�
<br /> '« '. -, . iJnless Lender aad Borrower otherwise agee in writing. anY aPp� P P � �.,,r.y�
<br /> ':•- _ � _ pastpone the dae date of the manthly paymenu referred to in paragrapL I and 2 or change the amount of such payments• ;�,1•:�4.-
<br /> ll.Horra�ser Not I3ede�ase�;Forbeasance By I.euder Not a��er-Exte���of tiee tuue for payment or mod'�'ication ,��;_;
<br /> y IrL��zement tai� Len�+ec�a•�.-�y successor in interest af Borrower shall
<br /> �?� ,;� of amordratian of the sums sras'ared bY chis Security ST� Y �r`��
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<br /> ,<<<<t�}.'._ �. ,,, csst operate tn_�ielease the ii�s:itv of the ari�a!Bom��.x ar Borroa�s success�rs ir.interest. [.�nder shaU not be reqttired ta ���.�;
<br /> ec,mmence r.•ra�dings againsc azr.g suc��c iu inter�:�T e'efuse c�e��d rime for payment or othzswise modify amorfi�ion ��._:•
<br /> �4� of tfie s:,:� sa::�d bY this Secunty Ls�an'-�►t b}- �e�.sun of :r�}° ��mand made by the origcmaf Borrower or Borrawer's i�:'��,•,;,_
<br /> man
<br /> . r,;�`,�.�� ,�'��'.• su.��i�::�_y:cst. Any forbearance by 1..ender i�s e�ercising a�ri�ht or remedy shall not be a waiver of or pr�clude t�ae
<br /> �Lf,..`.• ¢�r.�c�,f �t or rem �'�`�'�
<br /> (t , �, w;°.�. 12. ..��rs and .�gns Boend;Jo�nt and Several Lia6iiity: Co-siP,ners. The covenants and agreements of this �. ..
<br /> ;..,��';:;. . ..,;��f���, Security I�i-ruine�t sYta�t b-�_��d b�efit the successars and assigns of Lender and Barnuwer, subject co the provisions of � ;.�:
<br /> ;�t.. '�. pa:agtapfi 1. ISo-rawer's covenanu and agreements shall,be joint and several. Any Bormwer who co-signs this Security �,�,
<br /> lnstrumeni but does not execute the Note: (a) is co-signing ehis Security Insnument anfy to rtortgage.grant and convey that
<br /> � Borrower's interest in the Property under the tertns of this Security Instrument:tb)is not personally obligated ta pay the sums �°
<br /> secvted by this Secvrity I�suument:and(c)agrees that Lender and any other Bormwer may agree to extend.madifj+.forbeat or �:...
<br /> �. !. ��� ` make any accammodapons with regand to the terms af this Security Instrument or the Note wrthaut that Barrower's conseat. ____
<br /> �� ��' 13. l.oan Cha�ges.If the toan secured by this Security Instrument is subject ta a law which sets maximum loan charges. �
<br /> ° � . t� and that law is 4inalty interpreted so that the interest vr other loan charEes cullected or to be cullected.in cnnncctian with the ��
<br /> ' •� toan exceed the permitted limits,then: (a)any tiuch k�n charge+hall be cedured by the amount necessury ta roduce the charge �-='r
<br /> c�±a.:
<br /> ' � . ...' ", to the permitte�timit:and(b)any sums ulrc�dy coltected frum Bortower which exceedeet permitted limit�will be refunded to �,
<br /> � • Snnower. Lcnder may choose to make thi9 rcfund by reducing the principal owerl under the N�te c�r by making a dircct _,
<br /> � • payment to Borrower. If a refund reduce+ principal. the re�uction w�ll be treated as a partial prepayment withoui any =
<br />� . � •° . prepayment charge under the Nate. �.,
<br /> � 14.Notices.Any nauce to Bonawer p�avided Car in this Security Instrument shall be given by delivering it or by mailin� �
<br /> , it by first class roail unless applicable law rcquires ase of another methad.The notice shall be directed ta the Property Address �_�
<br /> • or any other address Horrower designates by notice to Lender. Any notice to I.ender sha11 bc given by f nt dnss mail to ^
<br /> . � , � Lender s address stated hercin or any other address Lender designates by notice ta Bormwer. Any notice provideA for in this
<br /> � • � ' Security Instcument shafl be dcemed to have been given to Horrower or Lender when given as provided in this para�taph. _
<br /> � � ... '� 15.Governtag Law; Severabflity. This Security Instnunent shall be govemed by fedcral law and the law of the
<br /> .., ''" `' jurisdicrion in which the Property is located. In the event that any provision or rlause of this Security Instrument or the Note _ —
<br /> , • conflicts with applicabte law.such conflict sha11 not affect other provisions of this Security Inswment or the IVote wfiich can be� _ _
<br /> . � � given effect without the confliding provision. To this end the provisions of this Secnrity Instrument and the Note ace declared ^
<br /> �''.�; to be severable. o_,
<br /> � � 16.Borrower's Copy.Borrower shall be given one conformed copp of the Note and of this Security Instn�ment.
<br /> '• � 17.Tran.�Per of the Pc+operty or a BeneYtcial InteRSt iu Borrower.IC all or any part of�e Property or any interest in it
<br /> u
<br /> ' is sold or transferred(or if a beneficial interesi in Borrower is sotd or transferred and Borrower is noi a natural person)a+ithout _
<br /> � I.ender's prior written consent. Lender may. at its option. requi�e immediate payment in full of all sumv secured by this .,..-_
<br /> Security Instrument.However.this option shall not be eaercised by[.ender if exerc�se�s prohibited by federal law as of the date =_
<br /> � of this Security Inswment. -_-
<br /> If d..ender exercises this option.Lender shall give Horrower notice of acceleration.The notice shall provide a petiod of not � _�
<br /> � less than 3GD days from the date the notice is delivered or maited within which Borrower must pay al!sums secured by this
<br /> � .. � ' Security Ins�ument. I f 8orrower fai ls to pay t hese sums p r t o r t o t h e e a p i r a t i o n o f t h i s p e ri o d,L e n d e r m a y invoke an y remedies
<br /> � • pemutted by this Secnricy lnstrumeN without fi�rther notice or demand on Borrower. �
<br /> IS. Borrower's Right to Retnstate. lf Borcuwer meets certain coadittons. Bonower shall have tho right to have �...�_
<br /> enforcement of this Secvdty Instrument discontinued at any time prior to the earlier of: (a)S days (or such other period as ----
<br /> �• applicable law may specify fos reinstatement) before sale of the Propeny pursuant tn any power of sale wntained in this
<br /> • ..' - Security Instrument:or(b)entry of a judgment enforcing this Security Instrument.Those conditcons are that Borrower:(a)pays •
<br /> � ' � � i.ender all sums which then wauld be duc under this Security Instrument and the Note as li no acceleration had occurred:(b)
<br /> � � cures any dePault of any uther covenants or agreements: (c)pays all exQenses incurred in enforcin�this Security tnstrument,
<br /> ' •. including.but not limitai tu,rpsonable attomeys fees:and Id)takes such action as I.ender may rcasonably requ�te to assure
<br /> �� � . that the lien of this Security Instrument. Lcndci s rixhts in the Prapeny and Borrawer's obli�ation to pay the sums secured by .
<br /> • . �' this Security Instrument shall wntin�se urtchanged Upan reinstatement by Bnrrower. this Secunty Insirument and the
<br /> . obligations securect hereby shall remain ful{y effective as if no acceleration had or,�urred. However, this ri�ht to reinstate shnll
<br /> � . � ' not apply in the case of acceleration under paragraph 17.
<br /> • � � ' 19. 5ate oP Note; Change ot Loan Servicer. The Note or a panial interest in the Note(together with this S�cttrity
<br /> � Instrument)may be sold orte or more times without prior notice to Borrower. A sale may result in a change in the entity(6cnown
<br /> � � a�the"Loan 5ervicer")that collects monthly payments due under the Note and this Securiry Inytrument.There also may be ane
<br />• � � • or more changes of the L:3n Servicer unrelated to a�aie of the�iote.1f U,a�o i�a c1-�ange of t�e Loan Servicer,Rnrrowes wi116�
<br /> � �'�,'�', �,�� ddress of the ntew g.aaa Serv eer av�a dr+�s to wh�payments sho d be�madee t'�'it:r�:e eotw��ilt lsoscanta�'�n�c.�r
<br /> �� , ,,�, _
<br /> ; '. . •r`°�H..... information required 6Y�Plicable la-:.. .
<br /> ..::,•7 ., � 20.Hazardoas 5cf�stanees. Bono�ver shat� r�>t cause or permit the gr�.�.ce. nse,disposal. stor�..or release of arry
<br />.."• ' Hazardaus Substances an or in the Property. Barrawer shall nat do. rt�r �lL�� anypne else to do, a:.1-;�ing afferting the
<br /> .� • ''. � .
<br /> Property that is in violation of any Environmental L.aw. The preceding two a,::ences shaU not apply to ti�e presence, r�se. or
<br /> _ -_: �— storage on the Propehty af smatl 4umititiry uf Harardous Sutssi.:r.�il:�t are rrseesTe!!ly recagn�zed to be a�pmTriate try rrnrrrral
<br /> ' ° residential uses and to maintenance of the Property.
<br /> - ,� �� . • V3go 3 016 Form 3028 9/90 .
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