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<br /> payrnents may no longcr bc requfred, ut the optian of Lendcr, if mortguge insurance covcragc(in thc amount and for thc pertod
<br /> that[.ender requires) providecl by an insurer approved by Lender ngain becomes availuble and is obtained. Borro�ver shall pay
<br /> the premiums required ta maintuin martgage insurance in effect,or to provide a lass rescrve,until the requirement foc mortgage
<br /> insurance ends in accordance with uny written ugrcement between Borrower and L.ender or appl icable law.
<br /> 9. Inspecttan. Lender ar its asent may make reasanable entries upon and inspections of the Property. Lender shull give
<br /> Borcower notice at the time af ar prior to an inspee:tiun specifying reasonable cause For thc inspution.
<br /> 10. Condemnatton. The proreeds of any award or claim for damages,direct or consequentiul. in connection with any
<br /> condemnation or ather taking of any part of the Property, or for conveyance in lieu of candemnation, are hereby assigned and
<br /> shall be paid to L.ender.
<br /> In ttic event of a total taking af the Property.the proceeds shall be applied to the sums securerl by this Security Instivment,
<br /> whether or nat then duc, with any excess paid to Borrower. In thc event of a partial taking of the Property in which the fair
<br /> matket value of the Property immediatcly befare the taking is equal to ur grenter than thc amount of the sums secuted by this
<br /> Security instrument immediately before the taking,unless Borrower and I.ender otherwise ugree in writing,the sums secured by
<br /> this Security Instrument shall be reduced by the amount of the proceeds multiplied by the followins fraction: (a) the total
<br /> amount of the sums secured immediately before the taking, divided by (b) thc fair market value of the Property immediately
<br /> before the taking. Any balance shull be paid to Borrower. In the event of a partial taking of the Property in which the fair
<br /> market value of the Property Immediately before the taking is less than the amount of the sums secured immediately before the
<br /> taktng, unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides, thE proceeds shall
<br /> be applied to the sums secured by this 5ecurity Insvument whether or not the sums are then due.
<br /> If ttie Property is abanduned by Borrower,or if,after notice by Lender to Bonower that the candemnor offers to make an
<br /> award or settle a claim for dumagcs, Bonower fails to respond to Lender within 30 days after the date the notice is given,
<br /> L.ender is authorized to collect and apply the proce�ds,at its option,either ta restoration or repair of the Property or to the sums
<br /> securod by this Security Instrument,whether or not then due.
<br /> Unless Lender and Borrower otherwise agree in writing, any application of proceods to principal shall not extend or
<br /> postpone the due date of the monthly payment�referred to in puragraphs 1 and 2 or change the amaunt of such payments.
<br /> 11.Borrower Not Released;Forbearance By I.ender Not a Waiver. Extenston af the time for payment or modification
<br /> of amorti�ation of the sums secured by this Security Insuument grante�i by Lender to any successor in interest of Borrower shell
<br /> not operate to release the liability of the original Bonower or Borrower's successors in interest.i.ender 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 aecuted by this Security Instrument by reason of any demand made by the orlginal l3onower or ltorrower's
<br /> successors in interest. Any forbearance by Ixnder in exercising any right or remedy shaU not be a waiver of or preclude the
<br /> exercise of any right or remedy.
<br /> 12.Suaessors and Assigns Bound; Joint and Several LiabiUty; Co-signers. The covenants and agreements of this
<br /> Security Insttument shall bind and benefit the successors and assigns of L.ender and Borrower. subject to the provisions of
<br /> paragraph 17. Borrower's covenants And ag�eements shall be joint and several. Any Borrower who co-signs this Security
<br /> Instrument but does not execute the Note: (a) is co-signing this Security Instniment only to mortgage.grant and wnvey that
<br /> Borrower's interest in the Property under the terms of this Security Instrument;(b)is not personally obligated to pay the sums
<br /> secured by this Securiry Instrumenr, and(c)agrees that L.ender and any other Bonower may agree to extend,modify.forbear or
<br /> make any uccomrnodations with regard to the terms of this Security Ins�rument or the Note without that Borrower's consent.
<br /> 13.Loxn Charges. If the loan secured by this Security Instniment is subject to n law which seu 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 shaU be raiuced by the amount necessary to reduce the charge ��
<br /> to the pertnitted limit;and(b)any sums already cali.ected from Borrower which exceoded permitted limits will be refunded to
<br /> Borrower. Lendtr may choose to rnake this refund by reducing the principal owed under the Note or by maktng a diroct
<br /> payment to Borrower. If a refund roduces principal, the reduction will be treated as a partial prepayment without any
<br /> prepayment charge undcr the Note.
<br /> 14.Notk�es.Any notice to Bor rower provided for in this Securiry Instniment shall be given by delivering it or by mailing
<br /> it by first class mail unless applicable law requires usc of another method.The nodce shall be directed to the Property Address
<br /> or any other address Bonower designutes by notice to I.ender. Any notice to Lender shall be gtven by first class mail to
<br /> I.ender's addmss stated herein or any other address Lender designates by notice to Borrower.Any notice provided for ln this
<br /> Security Instn►ment shall be deemed to have been given to Bonower or Lender when given ac provided in this paragraph.
<br /> 15.Governing Law; Severabiltty. Th[s Security Instrument shall be governed by federal law and the law of the
<br /> jurisdictiun in which the Property is located. In the event that any provtsion or cluuse of this Security Instniment or the Note
<br /> conflicts with applicable law,such conflict shall 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 provisions of this Security Instniment and the Note are declarai
<br /> t�be severable.
<br /> 16.Borrower's Copy.Borrower shall be given one conforrned copy of the Note and of this Security Instrument.
<br /> Form 3028 9/90
<br /> ` Pags 4 of 8
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