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<br /> at the option ot L.ender, it mortgage insurance cavarage (in the amount and for the period that l.cnder requires)
<br /> provided hy an insurer approvecl by L.ender again becomes available and is obtained.Horrower shall pay the premiums _
<br /> required to maintain martgage insurance it► effect,or to provide a loss resa:rvc, until the requirement for m�rtgage �
<br /> � :� insurance ends in accordance with eny writtan agrebment bet�veen Borrower and Lender or applicable law. «<
<br /> 9. Insp�ction.l.ender or ita agent may make rGasonable entries upon and inspections ot the Praperty. Lender shall
<br /> �,� give Bonower notice a2 the tima oi or prior to an inspectian specifying reascmable cause for the inspection. � —
<br /> ` 10. Condemn�tion.The proceeds ot any award or claim for damages,direct or consequential,in connection with y
<br /> eny condemnation or other taking ot any part of the Property,or for convayanca in lieu of condemnation,are hereby� _
<br /> ; essigned and shell be paid to Lcnder. _
<br /> In the event of e total taking of the Property,tlie proceeds shall be applied to the�ums secured by this Security�„� _
<br /> ti' Inatrument,whether or not then due,with any excess paid to Borrower.In the event of a partial taking ot the Property inQ
<br /> which the fair market value of the Property immediately bafore the taking is equal to or greater than the amount of the�
<br /> sums secured by this Security Instrument immediately before the taking,unless Borrower and Lender otherwiso agr
<br /> in writinq,the sums secured by this Security Instrument ehall be reduced by the amount of the proceeds multiplied bey,�p
<br /> the following fraction: (a�the total amount of the suma secured immediately before the taking,divided by(b)the feir
<br /> market value of thc Property immtdiately before the taking.Any balanoe shall be paid to Borrowar.ln the event of a
<br /> _ partial taking of the Property in which the fair market value of the Praperty immediately befare tha taking is less than =
<br /> the emount of the suma secured immedi�tely before the taking,unless Borrower and Lander otherwise agrce in writing
<br /> ' or unless apglicable law otherwise provides, the proceeds shall be applied to the euma secured by this Security __
<br /> Inatrument whether or not the suma are thon due.
<br /> If the Propert}is abandoned by Borrower,or if,after notice by Lender to Borrower that the condamnor otfers to
<br /> ' " make an award or settle a claim far damages, Borrower fails to respond to Lender within 30 days after the date the
<br /> notica is given,I.ender is authorized to collect and apply the proceeds,at ita option,either to restoration or re+pair of the =
<br /> �. Property or to the sums secured by this Security Inatrument,whether or not then due. -
<br /> Unless Lender end Borrower otherwise agree in writing,any application of proceedn w principal ahall not extend or
<br /> „ pustpone the duz date of the monthly paymenta referred to in paragrapha 1 and 2 or change the amount of euch
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<br /> � payments.
<br /> i i. Borrower ivoi Rci�:e�ad; :orh�ar:nca By Landzr ?Not r �Vriver. Extension of the time or payment or
<br /> modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in
<br /> interest oP B�nower shall not operate to release the liability of the original Borrower or Borrower's successors in
<br /> interest.I.ender ehell not be required to commence proceedinga against any successor in interest or refuse to extend
<br /> . time for payment or otherwise modify amortiuition of the sums secured by this Security Inatrument by reason of eny
<br /> demand made by tlie original Borrower or Borrower's cuccessors in interest.Any forbearance by I.ender in exorcising
<br /> � any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. --
<br /> ' 12.SUCCE950i6 aAd AS9;$IIB BOUAd; Jo�nt and Several Liability; Co-slgnors.Tha covenants and agreements
<br /> of this Security Instrument shall bind and benefit tha auccessors and assigns of I.onrler and Borrower, subject to the
<br /> provisions of paragraph 17.Borrower's covenanta and agreements shall be joint and reveral.Any Borrower who co-eigns
<br /> this Security Instrument but does not axecute the Note: (a) ia co-signing thia Security Instrument only to mortgege,
<br /> grant and convey that Borrower's interest in the Property under the terms of this Security Inatrument; (b) is not -
<br /> ' personally obligated to pay the suma secureci by this Security Inatrument;and (c) agrees that Lender and any other
<br /> Bonower may agree to extend,modify,forbear or make any accommodationa with regard to the terme of this Sxurity
<br /> Inetrument or the Note without that Borrower's consent. -
<br /> ° 13. Losn Ch�rges.If the loan secured by this Security Instrument is subject to a law which e,eu maximum loan _
<br /> charges, and that law is finally interpreted so that the �nterest or other loan charges coilected or to be collected in E � _-_
<br /> connection with the loan exceed the permitte3 limits,then: (a) any such loan charga shall be reduced by the amount �
<br />- necessary to reduce the charge tr� the permitted limit; and (b� any sums already collected from Borrower which �.-
<br /> exceeded rermitted limits will be refunded to Borrocver. Lender mny choose to maka this refund by reducing the ��:
<br /> e
<br /> principal owed undec the Note or by making a direct payment to Borrower.If a rafund reduces principal,the reduction __
<br /> ' • will be treated es a partial prepayment without anp prepayment charge under the Note. - __
<br /> 14. Notices.Any notice to$orrocver provided for in this Sec:urity Instrument shall be givsn by delivering it or by :__
<br /> mailing it by first class mail unless applicable law requires use of another method.The notice s hal l be directed to the
<br /> , Property Address or any other address Borrower designates by notice to Lender.Any notice to Lender shall be given by
<br /> first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any �`• F�_:_
<br /> . notice provided for in this Security Instrument shall be deemcd to have been given to Borrowor or I,ender when given ::r;-.
<br /> as provided in this paragraph. __
<br /> IS. Governing Law;5everability."This Security Instrumentshall be governed by federgi law and the law of the ,. .
<br /> � juri�diction in which the Property is located.In the event that any provision or clause of this Security Instrument or the
<br /> � Note conflicts�vith applicable la�v,such conflict shall not affect other provisions of this Security Instrument or the Note
<br /> � which can be given effect without the conflicting provision.'to this end the provisions of this Security Instrument and
<br /> � the Note are declared to be severable. '
<br /> i
<br /> � Ferm 302b 9/90
<br /> _ .AR�_CU(IUC1rwn»ni P���4 oe 6 Initlal�:c A o.
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