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<br /> payments may no longcr be required, at the option of Lcndcr, if tnortgagc?f.s��ncc� �% �umount und for the period
<br /> that L.cnder requires)prnvidcd by an insurcr uppr��vecf by l,cncler ugain bccomcs nvuilablc nnd is obtuined.Burrowcr shall pay
<br /> the premiwns ccquired to muintuin mongage 9nsurance in effect,or to provide a loss rescrvc,until the rcquirement for mortgage
<br /> insurancc ends in accorduncc with any writtcn agrccmcnt bctwccn Borrowcr and Lcndcr or npplicablc Inw.
<br /> 9. Inspectlon. Lender or its ngcnt muy makc reusonublc cntries upon s�nd inspcctions of the Property. Li;ndcr sl�all give
<br /> Borrowcr notice at the dmc�f or prior to an insp�:ctlon specifying reusonahlc ca��se for thc inspcction.
<br /> 10, Condemnatlon. Thc proceeds of any nward or claim far damnges,direct or consequential, iiz connection with nny
<br /> candemnation ar other taking of any part of the Property,or for ronveyiince in licu of condemnutian, nrc hcreby assignccl und
<br /> shall be paid to Lcnder.
<br /> in the event of a rotal tnking of the Property, the proceeds shall be upplied to the sums secural hy this Security lnstrument,
<br /> whether c>r not tl�en due, with any excess paid to IIorrowcr. In thc cvent of a partial tnking pf U�c Property in which thc fair
<br /> markct value af thc Property immedia�cly bcforc the taking is cqual to or grcatcr than the umount of thc sums sccured by this
<br /> Sccurity Instrumcnt immediately before the tnkins, unlcss Bormwer und Lender othcrwise�grce in Niriting, the sums sccured by
<br /> thls Securiry Instrument shall be reciuced by the amount of thc proceecis multiplied by the following fraction: (a) the rotal
<br /> amount of the sums secured immedia�ely before the tuking, divided by(b) thc fair market vulue of thc Propeny immcdiately
<br /> before the taking. Any balnncc shall be paid ta Borrowcr. In the evcnt of u partial taking of the Property in which thc fair
<br /> market value�f the Property immediately before thc taking is Icss than thc lmount of thc sums secured immediutely before the
<br /> taking, unless Borrc>wer and I.endcr oiherwisc agree in writing or unless upplicablc I�w otherwise provides, the proceeds shall
<br /> bc applieci to the sums securecl by this Security Insttument whether or not the sums are then duc.
<br /> If the Property is abandoned by Rorrower,or if, after notice by Lender to Borrower that the condcmnor offers to make an
<br /> award or settle � claim for damages,Borrower fails to respor�d to L,ender within 30 days after the date the notice is given,
<br /> L.tnder is authorized to collect and apply the proceeds,at Its option,either to restoration or repair of the Property or to the sums
<br /> secured by this Security In�trument, whether or not then due.
<br /> Uniess Lender and Borroa•er otherwise ;�,;re� in writ� �q, any .apl�cation ��f pmceeds to principai shall not extend ar
<br /> postponc the due date of the monthly payments referred to in paragraphs l aud 2 or��iange tt�e amount of such payments.
<br /> 11. Borrower Not Released; Forbearance By I.ender Not a Waiver. Extension of the time for payment or modification
<br /> of amortization of the sums secured by this Security Instrument granted by L.ender to any successor in intei•est of Borrower shall
<br /> not operate to rcicase the liability of the �riginal Borrawer or Borrower's successors in interest. I.ender shall nut be requiral to
<br /> commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amorti�tion
<br /> of the sums secured by this Security Instrument by reason of any demand made by the originttl Borrower or Horrowar's
<br /> succesaors in interest, Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the
<br /> exercise of any right ar remedy.
<br /> 12. Successotts snd Assigns Bound; Jolnt and Several Liability; Casigners. The covcnants and agreements of this
<br /> Security Instrument shall bind and benefit the successars and assigns of Lender nnd Borrower, subject to tha provisions of
<br /> paragrAph 17. Borrower's covenants and agreements shail bc joint and sevcral. f►ny Borrower who co•sigus i1�i� ,��cC.ul'Itj�
<br /> Instrument but dces not execute the Note: (a) is co-signing this Security Inst[ument only to mortgage, grant and convey 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 Security Instrumcnt; and (c)agrees that Lcnder and uny other Eorrower may agree to extend,modify,forbear or
<br /> rnake any accommodaticns with regard to the terms of this Security Instrument or the l�ote without thut Aorrower's consent,
<br /> 13. Laan Charges.If the laan secured by this Security Instrumcnt is subject to a law which sets maximum loan charges,
<br /> rind that law is finally interpreted so�hat the interest or other loan churges collected or to be collected in connection with the
<br /> loan excead the permitted limits,then:(a)any such loan charge shnll be reduced by the amount necessary to reduce the charge
<br /> to the permitted limir and(b) any sums alrcady collected from Borrower which exceeded permitted limits will be refunded to
<br /> Sorrower. Lender may choose to make this refund by reducing the principal owcd under the Note or by making a direct
<br /> payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any
<br /> prepayment charge uuder the Note.
<br /> 14. Notices. Any notice to Borrower provided for in this Security lnstrwnent shull be given by delivering it or by mailing
<br /> it by first class mail unless applicable law requi:es use of another method. The notice shall be directed to the Property Address
<br /> or any other address Bon�ower designates by notice to Lender. Any notice to Lender shall be given by first class mail ta
<br /> I.ender's address stated herein or any other address Lender designates by notice to Borrower, Any notice provided for in this
<br /> Security Instn�ment shall bc der.med to havc bcen given to Borrowcr or Lendcr when given as provided in this paragraph.
<br /> 15. Governing Law; Severabll(ty. This Sccurity Instrument shall be governeci by federal law and the law of the
<br /> jurisdiction in which the Property is located. [n the event that any provision or clausc of this Security Instrument or the Nate
<br /> conflicts with applicable law, such conflict shall not nffect 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 Instrument and the Note are declared
<br /> to be severeble.
<br /> 16. Borrower's Copy.Borrower shall be given one conformed copy of the Note and of this Sec;urity Instrument.
<br /> Fam 3028 9/90
<br /> Pepe d ot 8
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