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<br /> paynxnts muy no I��ngcr be rcquirecf,ut the option of l..ender, iF mortguge insurancc covcragc(in 1hc umount nnd far the period
<br /> thot L.endcr requitcs)pravidai by an insurer approvcd by Lc:nder again bccome.r•uvailable uncl is obtainecl. Bormwcr si�all pay
<br /> the premiums rryuiral to nwinluin irwrtgage insurancc in effect,or to prnvide u loss rescrve,uniil thc rcquirenxnt for rmvtgage
<br /> insurwuo c�xls in acconiunce with nny written agre�mcnt betwan Horrower aixl I.eixlcr or upplicubie luw.
<br /> y, 1nApectlan. Ixndcr or Its agent may make reasonabie cntries up�n uixi inspccunns of thc Propcny. Lender shall givc
<br /> Borrower notice at the linx of or prior to an inspectimi specil'ying rsaumuble cause for the inspec►ion•
<br /> lU. CondemnAt�on•The proceeds af�nY uWSrd or elsim for dmnuges, Jirect nr conu�quentiul, in cunnectinn wi►h uny
<br /> coixlemnation or other taking��f any part of the Property,or for conveyunee in licu oP cnndemnatfon, ure hereby ussigned and
<br /> shall be paid to L.ender.
<br /> In�he event of a totul�uk'sog of t�ic Pmperty,the proceeJs shell be applicd ta the sums sccurcd hy this Sccurity nstrumen,
<br /> whether or not then due, with any oxcess paid to &irrower. ln the event of u puniul tuking of the Pro�ny in which thc fair
<br /> market value of the Property immaliately before thc tuking is equul t�or greutcr than thc amdunt of thc sums sccural by Ihis _
<br /> S;.curity Instrurrknt immediately bcfora e�a b kj�hc amount�frthecpr eeds�mult plicd'byu hc follo ing�fruetlon��(a�hc�t I
<br /> t h i s S e c.a r i ry i n s t r u m e n t s h a�l t+e r a�u c y
<br /> amount of the sums secured immuliatcly before the taking. dividc.di by (b) t he fuir mar kc t v u l u c o f t h e P r a p c rt,y i m�t►a l i u t e l y
<br /> befarc the taking. Any balence shnll bc paid to Borrower. In the event af a partiaf taking of Ihe Prapeny in which thc fair
<br /> market value of the Property immediately befora the taking is Iess than the amount of the sums securai immexiiuttly before thc
<br /> taking, unless Borrower and Lender otherw�se agree in writing or unless appiicable law otherwise provldos, the procads shall
<br /> be applied to the sums secured by this Security xnstrument whether or not the sums are th�n due.
<br /> If the Property i�abandonal by Bortower,or it. after notice by l.ender ta Borrower that the co�xlemnor offers to make an
<br /> award ur settle a claim for damuges, Borrower fails to res pnd to l.ender within 30 days Pfter the dace t� n�c[to�he sums
<br /> Lender is authorized to collect and apply the prcccals.at its o tion, either to restoratian or re air of the Pro rty
<br /> secured by this Security Instrument,whether or not then due.
<br /> Unless L.ender and Horrawer otherwise agree in wriUng. any application of procads ta principal shall not extend or
<br /> postpone the due date of the monthly payments refcrced to in paragraphs 1 and 2 or change the amount of sach payments.
<br /> 11.Borrower Not Released;Forbe�►nnce By I.ender Not a Wptver. Extension of the time for paymenc or mod�fication
<br /> of amortization of the sums secured by this Security Instrument granted by I.ender to any successor in interest af Horrower shall
<br /> not operate to release the liability of the original Borrower or Florrower's successors in interest. Lender shall not be requirai to
<br /> commence proceixiings against nny successor in interest or refiise to extend time for payment or otherwise modifY anx►rt�zation
<br /> of the sums secural by this Security Instrument by reason of any demand macle by the uriginal Borrawer or Borrower's
<br /> successors in interrst. Any forbearance by Lender in exercisi�g any right or remeciy shall not be a waiver of or preclude the
<br /> exercise of any right or remedy.
<br /> 12. Succes.gor� and Asslgns Bound; Jolnt and Several Lipblltty; Co-slqners. The covenaats and agraments of t �s
<br /> Security Instrument shall bind and benciit tiia succcs�rs «^� s•`•"-on` nf I.ender and Borrawer, subject to the provisions of
<br /> paragraph 17. Borrawer's covenants and agraments shall be joint and several. Any Eorr�wer who co��-�s'�8��cionve that
<br /> Instrument but docs not execute the Note; (u) is co-signing this Security Instrument only to morigage, g Y
<br /> Borcower'c interest in tho Properiy under the t�rms of this Security Instrumenr (b) is not personally obliqatai to pay the sums
<br /> secured by this Security instrument;and(c)agrees chat L.ender and any other Borrower may agree to extead,modify,forb�ar or
<br /> tnake any accommodations with regard to the terms of this Security Instrument or the Nate without that aonower's consent.
<br /> 13.Loan Ch�rges• 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 lnterest or other loan charges colixtecl or to be collected in connextion with the
<br /> loan excad the pemtitted�imits,then: (a)any such loan charge shall be reducal by the amount necessary to reduce the charge
<br /> to the perm�tted limit; end (b)any sums alrcady collected from Borrower which exceecial pei'rt►iued limits will be refunded to
<br /> I�naw¢r, Lender may choose to mnke this refund by reducing the principal owed under the Note or by maklnB a direct
<br /> payment to Borrower. If a refund raluces principal, the reduction will be treatal as a pattisl prepayment without any
<br /> prepayment charge under the Note.
<br /> 14.Notices.Any notice to Borrower provided for in tliis Security lnstrument shall be Siven by delivering it or by ma�l�ng
<br /> it by first class tniil unless applicable law requires use of anothcr method. The notice shall be directed to the PropertY Addr�ss
<br /> or any other address Borrower designates by noticc to Lender. Any notice to Lender shall be given. by Crst cless mail ta
<br /> l.ender's address stated hercin or any other address Lender designates by notice to Horrower. Any notice provided for in this
<br /> Security Instrumcnt shall Ge dcxmed to have becn given to$or�ower or Lender when given as providai in this paragraph•
<br /> 1S.Governing Law; Severability. This Sccurity Instrument shall be governed by fedcral law and the law of the
<br /> jurisdiction in which the Propeccy is located. In the event that any provision or clause of this Se�:urity Instrument or the Note
<br /> conflicts with applicable law,sucli conflict shall not ni�'ect other provisions of this Security Instrument or the Note which can be
<br /> givcn effect without the conflicting provision. To this end th�provisions of this Security Instrument and the Note are oxlared
<br /> to be severable.
<br /> 16.Borrower's Copy.Borrower shall be given one conformed copy of the Note and of this Secur�ty nstru�m 302e 9/80
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