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<br /> - paynunts may nn longcr bc rcquircd,ut thc option of Lcndcr, if mortgugc intiuruncc covcrugc(in the amaunt and for thc pericxi
<br /> � � • that l.cndcr rcquires)providcd by un insurer upprovcd by Lendcr uguin bcromcs availublc and is obtained. Borrower shull pay
<br /> . � the premiums required to maintain mortgage insurunce in effect, or to provide a loss reserve,until the re:quirement for mortgage
<br /> � insurance ends in accordance with any written agreement between Borrower 1nd I.ender or upplicuble law.
<br /> • • .��� Y. lnspectton. Lcndcr or its ngcnt may makc rcasonablc cntrics upon und inspccuons of thc Yropcny. Lc:ndcr tihiill give '
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<br /> �., Bnrrower nntice at the timc of or prinr to an inspection specifying reasonable cuu+e for the inspeetion.
<br /> 10. Condemnatfon. The procculs of any awurd or cluim for damuges, direct or consequential, in wnnection with anyv
<br /> i'�� `•� condemnation or other taking of any part of the Propeny, or for conveyunce in lieu of condemnation, are hereby utisigned and�
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<br /> - shall bc paid to Lendcr.
<br /> , In the event of a totul�aking of the Property,the proceecis shull be applied to the sums secured by this Security instrument�
<br /> • wl�ether ar not then due, with any excess paid to Barrower, In thc evcnt of a partial taking of the Property in which the fai� -�
<br /> � �! market value of the Property immecliutely befare the taking is equal ro or greater than the amount of the sums secured by thi
<br /> � • � Security Instrument immecliately before the tuking,unless Borrower and Lender otherwise agrce in writing, the sums secured b�
<br /> - this Security Instrument shall be reciuced by the amount of the proeeecls multiplied by the following fraction: (a) the tot�f�
<br /> � .�mount of the sums securc;d immediately before the taking, divided by (b) thc fair market valuc of the Properry immediately
<br /> before the taking. Any balance shall be paid to Borrower. In the event of a partial tuking of the Property in which the fair
<br /> market value of the Propeny immediatety before the taking is less thun the umount of the sums secured immediately befare the
<br /> • taking, unless Borrower and L.ender otherwise agree in writing or unless applicable law otherwise provides,the proceeds shull
<br /> -_ '. be upplie;d to the swns secured by this Security Instrument whether or not the sums nre then due.
<br /> � � If the Property is abandoneci by Borrower, or if,after notice by I.endcr to Borrower that the condemnor offers to make an
<br /> awurd or settic a claim for dumages, Borrawer fails to respond to Lender within 30 days after the date the noticc is given,
<br /> Lender is authori•r.ed to collect and apply the Prorecds,at its option, either to restoration or repair of the Property or to the sums —
<br /> , secured hy this Securiry Instrument,whether ar not then due.
<br />. Unlcss Lendcr and Borrower otherwise agrec in writing, uny application of prcxeeds to principal shall not extend or
<br /> � postponc the due datc of the monthly paymcnts referrcci to in paragraphs l and 2 or change thc amount of such payments.
<br /> 11. Borro�ti•er Not Released; Forbearance By L.Qnder Not n Watver. Extension of the timc for payment or modification
<br /> � of amortication of the sums secured by this Securiry Instrument�ranted by I.ender ro any yuccessor in interest of Borrower shnll
<br /> not oper:►te to rcleasc the liability of thc original Borrower or Bonower's successors in interest. Lcndcr shull not bc 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 ;ecured by this Security Instrument by reason of any demund made by the original Borrower or Borrower's
<br />-`' .:. � . successors in interest. Any forbearance by L.ender in ex.,rcising any right or remedy shall not be a waiver of or preclude the
<br /> ezcrcise of uny right or remedy.
<br /> - � 12. Successors and Assigns Bound; Jo1nt and Several Llability; Co-signen. Thc covcnants and ugrcemcnts of this
<br />- � �. , Securiry Instrument shall bind and bcnefit thc succcssors and assigns of Lender and Borrawer, subject to the provisions of
<br /> •• - paragruph 17. Borrower's covenants and agreements 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 Instrument only to mortgage, grant asnd convey that
<br /> - , ' Borrower's interest in the Property undcr the terms of this Security [nstrument; (b)is not personaUy obligated to pay the sums
<br /> ; � secureci by this Securiry insaument;and(c)agrees that L,cndcr and any other Borrowcr may agree to extend,modify,forbear or
<br /> • ��,-�, make any acrommodutions with regard to the ternis of this Security Instrument or the Note without that Borrower's consent.
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<br /> '•_:r�.:. .• 13. Luan Charges. I(the loan secureci by this Securiry instrument is subject to a law which sets mxximum loan charges,
<br /> �' -°' ' '- and that la�v is finally interpreted so that the interc�st or other loan charges collected or to be collected in connection with the -
<br /> ' ' ' `. lo�n excecd the permittcd limits, then: (s)any such loan charge shnll bc reduced by the amount necessary to reduce the charge
<br />- to the permitted limit; a:�d(b) any sums already collected from Borrower which excceded permitted limits will be refunded tn
<br /> _ °- . . Borrower. I..ender may chouse to make this refund by rcducing the principal owecl under the Note or by making a direct =
<br /> .. +•� payment to Borcower. If a refund reduces principal, the reduction will be treated us a partial prepayment without any
<br /> '��`�,.��f a prepayment charge under the Note.
<br /> ,`'''�'„;,'" "�� 14.Notic�. Any notice to Borrower provided for in this Serurity Instrument shall be givcn by delivcring it or by mailing �
<br /> ,.:�' ". . . �r it by first class mail unless applicable law requires use of another methoJ.The notice shall be directed to the Property Address
<br />_ �; or any othcr aJdres+ Borrower dcsignatcs by noticc to I,endcr. Any noticc ta Lcndcr shcdl bc given by tirst class mail to
<br /> � Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided f'or in this
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<br /> Sccuriry Instrumcnt shall bc JccmeJ to have bcen given to Borruwcr i�r Lcnder whcn givcn us providcd in this paragraph. _
<br /> .' I5.Governin�G I.aw; Severability. This Securiry Instrumcnt shall hc govcrncd by tccicral law �uid thc law of thc `
<br /> P� jurisdiction in whirh lhc Property is lorated. in thc event that any pruvision or clausc of this Security lnstrument or the Note -
<br /> '.. .� �ontlirts with applicablc law, such contlict shall not affcct uther provisionti of'this S�ruriry Instrumcnt or thc Notc which can bc -
<br /> " given ct'fcrt without thc runflirling pruvision. To thiti cnd thc pn�vixions of this Srrurity I�istrumcnt and the Note arc declarcd -
<br /> to bc scvcrublc.
<br /> 16.Borroivcr'x Cop}•.Borrciwcr tihall bc�i��cn onr confarmcd copy of ihc Notc and nf this Scrurity Instrument. -
<br /> Form 3028 9/90 -
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