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F pay►n�nts may no longer be rsquired,at the option of Lender, if mortgage insuranc'E rnverage(in thc amount and for the�etiod that Lerader� requ'sres) provided by an irisurer approved by Lencler again becomes available and is obtained. Borrower shali pay the preminms required to maintain mortgage insurance in effect,or.o provide a loss reserve,until the requirement far mortgage insurancr ends in accardance with any wrietert agreeme�t betwcen Borrower and I.ender or applicable taw. 9. Inspection. L.ender or its agent may maice reasonable entries upon and inspections of the Property. I.endcr shall give � Borrower notice at the time of or pri^r to an inspectiocs specif}+ing reasonable cause for tbe inspection. 10. Condemnation. The proceexls of any award or c12im for dam�ges, direct or consequential, in connectio❑ with any � condemnatien or other taking of any part of the Property, or for rnnveyance in lieu of cnndemnation, are hereby assignod and ` shall be paid ro L.e�ider. In the event o£a tota(taking of the Prc�perty, the proceeds shall be applied to the sums secur�l by this Scxurity Instrument, � whether or not then due, with any excess pai� ta Bonower. in the event of a partial taking of the Property`in which the faer , � market valoe of the Prcpe,•.y immediately before the taking is equai to or greaier than the amount of t�e sum�secured by this (fP,.� Security Instrument i�nmeciiately hefore the taking, unless Borrower and I.ender otherwise agree in w�iting, the s ms secured by (� this 5ecurity lnstrum�nt shall be reduced by the amount af the proceeds multiplied by the foflowing fraction: (8) the total � amo�nt of the �ums secured inunediately before the talcing, divided b�� (b) the fair macket value of the Property imrtiediately b�fore the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the P:operty in whicn the fair marfcet calne of the C�roperty immeciiately before the taking is less than the amount of the sums seeured immediately before the ialcing, unless Borrower and Lender ot�rerwise agree in u-riting or unless 2pp:icable law otherwise provides, the proceecis shal� be applied to the sums secured by this Secnrity Irutrument whether or not ehe snms are then due. If the Fropecty is abandoned by Borrower, or if, after notica by Lender to Borrower ihat the condemnor offers to make an award or sc:ttl� a claim for damages. Barrower fails to r�pond to Lerider within 30 days after the date. the notice is given, Lencer is authorized to collect and appty th�proceeds, at its option, either to restoration or repair of the Prope�ty or to the surru secured by chis Security Instrument,whether or not then due. Unless Lender and Sorrower othetwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date ef the monthly payrr�ents refez�red to in paragraphs 1 and 2 or change the amount of such payments. 11. Borro�ver Nof Released; Fasbearance B�� Lender Not a Waiver. Bxtension of the time for pa�nient or modification of amortiration of the sums se,cured by this Securiiy Instrument granted by I.ender te any successor in interest of Borr�wer stiall not operate to releasc the liability ot the original Borrower or Borrowcr's successors in interest. Lender shall not be required ro cor.unence procredings against any succes.sor in interest or refuse to eztend time for payment or othenvise modify amortization of the sums secured by this Security instrument by reason of any demand mads by ihe original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of os preclude the exercise of any right or remedy. 12. Successors and Assigns Bound; 3oint and Ser•eral Liabeiity; Co-signers. The covenants and agreements of this Security Instrument s}iall bind an� benefit the sucs:essors and assigns of L.ender and Bcrrower, subject to the provisions of paragraph 17. Borrower's covenants and agreements shalt be joint and several. Any i3ormwer who co-signs this Security ;nstrument but does not execute the Note: (a) is co-signing this Security Instniment only to mortgage, grant and convey that Borrower's interest in tiie Property under the terms of this Security Instrument; (b) is not personally abligated to pay the sums secured by this Security Instrument; and(c)agrees thai Lender and ar;y other Bocrower may agree to extend, mcxlify, forbear or make any accommo�alions with regard to the terms of this Securiry Inst_;vment or the Note without that Borrower's consent. 13. I.oan Charges. If the loan�ecured by this Security Instrument is subject to a law which sets maximum loan charges, and tfiat law is �natly interpreted so tha: the interest or other loan cha.*¢es col(ected or to be collected in connection with the loan exceed the permitted (imits, then: (a)any such loan charge sha[1 be rc�uced by the amount necessary to reduce the charge to the perrnitted limit; and (b) any sums already collected from Bc�rrow�er w6ich exceeded permitted limits will be refundeci to Borrowcr. Lender may choose to make this refund by reducing the pri�cipal owed under the Note o; by making a direct payment to Borrower. Tf a refund reduces principal, the reduction will be treated as a partial pre�ayment without any p�epayment charge un3er ttie Note. 1�:. Notices. Any natice to Borrower providcd for in this Security Instrument shall be given by de:ivering it or hy maiting it by first class mail unless applicabte law reguire.s use of another method. The notice shall be directed to!he Property Address or any other address Borrower designates by notice to Lender. Any tiotice to L.ender shall be given by first ciass maii to Lender's address s�ated herein or any other address Lender designates by notice to Borrower. Any notice providecl for in this Securi;y Instrument shail be deemeti to have been given to Borrower or L.ender when given as provided in this paragraph. 15. C�.�etning L,aw; Severability. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clau�e of this Security Instrument or the Note eonflicts with zpplicable law, such conf?ict shail not affect o!her provisions of this Security Instrument or the Note which can be given effect withou!the conflicting provision. To this en� the provisions of i�his Security Instrument and Lhe Note are declared to be severable. 16. Borrower's Copy.Borrower shal(be given one conformed copy of the Alote and of this Security Instrument. form 3028 9/90 Page 4 of 8 �, . � � � t � .. �v��..' . _. . �_