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<br /> � ot the option of Lender, if mortgage insurance coverage (in the amount and for the period that L.ender requires) •�.-
<br /> provided by an insurer a�proved by [.endcr agein becomes available and ie obtained. Borrower shall pay the promiume ;�;.
<br /> � required to maintain mortgage insurance in effect,or to provide a loss reserve, until the requirement for mortgage i `•_
<br /> I insurance ends in accordance with any written agreement between Borrower and L.ender or applicable law. ��
<br /> ..^
<br /> 9. Inspectiaa.I.encier or its asent mey make reasonable encrirs upon and inspections of thu Property.Lender shall � _
<br /> give Bottower notice at the time of or prior to an inspection apecifying reasonable cause tor the inspection. __
<br /> � 10. Condomaation.The proceeds of any award or claim for damages,direct or conseqoential,in connection with „ ____
<br /> � any condemnation or other taking of any part of the Property,or for conveyance in lieu of condemnation,are hereby �_,
<br /> ' assigned and shall be paid to Lender. � I �J`":`,�
<br /> In tha event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security ' � __—
<br /> ' Instrument,whether or not then due,with any excess paid ta Borrower.In the event of a partial taking oi the Property in . - ______
<br /> which the fair market value of the Property immediately before the taking ia equal to or greater than the amount of the � , ,
<br /> sums secured by this Security Instrument immediately before the taking,unless Borrower and Lender otherwise agree � ,
<br /> in writing,the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by
<br /> the foUowing fraction: (a) the total amount of the sums secured imrnediately be{ore the taking,divided by(b)the fair Q
<br /> market value of the Property immediately before the taking. Any balance shall be paid to Borrower. In the event of a !„�
<br /> partial taking of the Property in which the fair market value of the Property immediately before the teking is less than W ----
<br /> the amount of the sums secured immediately before the taking,unless Borrower and I.ender otherwise agree in writing
<br /> J or unless applicable law otherwise provides, the proceede shall ba applied to the euma secured by this Security
<br /> Instrument whether or not the sums are then due. �;�
<br /> If the Property is abandoned by Aorrower,or it, after notice by[.ender m Borrower thet the c�ndemnar ofterA to �:,t.
<br /> make an awerd or sattle a claim for damegav, t3orrower tails to ragpond to I.ender within 30 days ntter the date the ,__-
<br /> notice iK given,Lender is euthorized to collect end npply tho proceede,at itA option,either tci re9t�retion�r repeir of the �•�,�.
<br /> Pmperty or to the sume e�ec:ured by thiA Sccurity Instrument,whether or not then due. _.-
<br /> � Unleea.9l.endar and Borrc�war�ther�vise agree in writing,any epplication of procCeds to principal ehell not extend o�
<br /> �stpone the due date of thc monthly paymentA referred to in paragraphs 1 and 2 or chango the amou�tit of such ---
<br /> peymente. ��
<br /> ; I l. I3orrower Nut ReleaRed; I'arbeannce Iiy I.ender Not � Waiver. Extension of the time f�r paym�nt or � ;
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<br /> modification of amortizetion of the sums secured by this Security Inatrumant granted by Lender to eny successor in ?�{` •
<br /> iid'cicsi oS P,aifor:er ^.hsl: ttQ2 O�ls2e to lelee*.�' rh� fahility of tha original Borrower or Iiorrawer's successore in i .,'�,5.�t;�.
<br /> interest. L,ender shall not be required to commence proceed;ngs against any successor in interest or refuse to extend ` ,-�
<br /> time for payment or otherwise madify amortization of the sums secured by thie Security Instrument by reason of any ,A� �:. ��L
<br /> demand made by the originnl Borro�ver or Borrower's succes3ore in interest. Any forbearance by Londer in exercising • �'';
<br /> any right or remedy shall not be a waiver of or preclude the exercise of any right or remcdy. �'�"'a�� �:
<br /> l2. Successors and Assigns Bovnd; Joint and S�veral I.iability;Co-signers,The covenanta and agreements <
<br /> of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the •.�' °�.� ;
<br /> provisions of paragraph 17.Borrower's covenants and agreements shall be joint and several.Any Bunower who co-signs �; � � "��
<br /> - this Security Instrument but does not execute the Note: (a) is co-signing this Security Inatrument only to mortgage:, ��
<br /> grant and convey that Barrower's interest in the Property under the terms of this Security Instrument; (b) is not _
<br /> personally obligated to pay the sums secured by this Security Instrument;and (c) agrees that Lender and any other .—"'����
<br /> Borrower may agree to extend,modify,forbear or make any accommodations with regard to the terms of this Security '"`'
<br /> �;`�t-
<br /> Instrument or the Nota without that Horrower's consent. �
<br /> 13. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan ,.+��__
<br /> charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in .�H=-
<br /> connection with the loan exceed the permitted]imita,then: (a) any such loan charge shall be reduced by the amount �:_�- _ _
<br />_ 9 , necessary to reduce the charge to the permitted limit; and (b) eny sums already collected from Borrower which :;;q;�::_—
<br />- ' exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refun�l by reducing the '.�:_:_____
<br /> �? principal owed under the Note or by making a direct payment to Borrower.If a refund reduces principal,the reduction =�-�_____. —
<br /> ' will be treated as a partial prepayment without any prepayment charge under the Note. •:_a'"�"`-' -
<br />- 14. Notices.Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by :�
<br /> ` mailing it by first class mail unless applicxble law requires nse of another method. The notice shall be directed to the �.�r��5'� ���
<br />- Property Address or any other address Borrower designates by notice to Lender.Any notice to Lender shall be given by • � ��v'
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<br /> first class mail to Lender's address stated herein or any other nddress Lender designates by notice to Borrower. Any �
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<br /> notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given �"��•;:.:'' ` „
<br /> - as provided in this paragraph. '
<br /> l5. Governing Law;Severability.This Security Instriimentshall be gaverned by federal law and the law of the
<br /> jurisdiction in which the Property is located.In the event that any provision or clause of this Security Instrument or th0••
<br /> Note conflicts with applicable law,such conflict shnll not affect other provisions of this Security Instrument or the Note
<br /> �vhich 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.
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