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� � � �, � . A j ' ''�!� •. ��. �. � \_ ' payments �nay no Innger be required, at the option of L,�nder, if mortgage insurance cov;.rage(in the amount and for the period ' that Lender requires)provided by an insurer appraved by Lender again becomes availabte and is obtained. Borrower shall pay the premiums requircd to maintain mortgage insurance in tffect,or to provide a loss reserve, until the requirement for m�ctgat�e i insurance ends in accordance with any written agreement between Borrower and Letsder or applicablc law. 9. Inspectlon. L,ender or its agent may make reasonable cntri�s upon and inspections of the Yropetty. Lcoder sliall give Borrower notice at the time of or prior to an inspection spxifying reasonable causa for the inspection. .10. Condemnation. The p_rocxds of any award or c�aim for damages, direct or consequential, in connection.with any ' condzmnation or other taking of any part of the Property, or for conveyance in lieu of ccmdemnation, are hereby assigned and shall be paid to L.ender. ' In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. In the event of a panial taking of the Property in which the `air market value of the Property immediately before the talcing is equal to or greater,than the amount oythe sums secured by this Security Instrumen! immcdiately be:are the taking, un?ess Bor:ower and L.ender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total � amount nf the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediately ,� before the taking. Any balance shala be paid ro Borrowe�. In the event of a partial taking of the Property in whicti the fair � market valac of the Propeny immeciiately before the taking is less than the amount of the sums secured immediately before the F.a, taking, unless Borrower and Lender otherwise agrce in writing or unless applicabla law otherwise provides, the proceeds shall Q � be anp��ro the sums secured by this Security Instrument whether or not the sums are ttten due. Q If the Propeny is abandoned by I�ormwer, or if, after notice by Lender to Borrower that the condemnor offcrs to make an vl awazd or settle a claim far damages, Borrower fails to respond to L.ender within 30 days after the date the notice is given, � Lxnder is authorized to collect and appty the ptoceeds,at its option, either to restoration or repair of the Property or to the sums � secured by this Security Instnjment,whether or not then due. Uniess Le::der and Borrower othexwise agree in writing, any application af proceeds to principal shall r�ot eztend or postpone the due date of the monthly payments referred to in p2ragraphs 1 and 2 or change the amount of such pa•ymer�ts. 11. Borrower Not Releasecl; Forbearance B� L.ender Not a Waiver. Extension of the time for payme�t or modification of amortization ef the sums secured by this Security Instrument granted by Lender to any successor in interest of Bonower shali not operate to re�ease the liabiliry of the originai Borrower or Bormwer's successors in interest. L.ender shal! not be requirPd to corrunence proceedings against any successor in,iiiteres!or refuse to eztend time for pay�ent or otherwise modify amortization of the sums secured by this Security I��strument by reaspn of any demand n�ade by the original Borrower or Bonower's successors in interest. Any forbearance by Lender in ezercising any right or remedy shall not be a waiver of or preclude the ezercise of any right or rec�edy. 12. Succcssors and Assigns Bound; Joint and Severul Liability; Casigners. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrawer, subject to the provisions of parzgraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Securicy Instrument but dces not ezecute tlie Note: (a) is co-signing this Securify instrument only to mongage, g�a�! and convey that Bonower's interest in the Property under the terms of this Security Instrument; (b) is not personally obliaated to pay the sums secured by:his Security Instrument; and(c)agrees that Lender and any otFer Borrower may agree to extend, modify, forbeu or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 13. Loan Charges. ]f the loan secured by this Security Instrument is suoject ta a law wbich sets maximum loan charges, and t6at law is tinally interpreted so that the interest or other toan charges collected or to be collected in connection with the loan exceed the pr.rmitted limits, chen: (a) any such loan charge shal! be reduced by the amount necessary te reduce the charg;, ro the perrriitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing che principal owed under the Note or by making a direct � payr.�ent to Borrower. If a reft►nd reduces principal, the rednction will be treated as a parcial prepayment without any prepayment chuge under the Note. � � 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it ur by mailing � , it b� first class �nail unless applicable law requires use of another method. The notice shall be directed to the P�S�perty Address `,;\ i or any other address Borrower designates by notice to Lender. Any notice to L.ender shali be given by first class mai] to .- Y Lender's address stated herein or ;u�y flther address Lender designates by notice to Bonower. Any notice provided for in this Security Instrsment shali be deemed to have been given W Borrower ar L.ender when given as provided ':n this paragraph. " 15. Governing Law; Severability. 'I1�is Security Instnsment shall be governed by federal law and the law of thc » juris�iction ia which the Propeny is located. In the event that any provision or clause of this Security Instrument or the Note contiicts with applicable law, such conf]ict shal!rot affect other provisions of tt►is Security Instrument or the Note which can be given effect withoi:t the conflicting provision. To �his end the provisions of this Security Ijjstrument and the Note ace declared to be severable. 16.Borrower's Copy. �orrower shall be given one confarmed copy of the Note and of this Security lnstrument. Form 302H 9/90 �-8R fNE)isz�2�.oa Ppt�of 8 � WUdc � � k � . . . - ., ,. , .�._�: � c"i1!c � � ,.J