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.9 \ � \� '�` payments may no longcr be required, at the option of Lender, if mortgage insurance coverage(in the amount and for the periai thut Lender requires) provided by an insurer approved�y I,ender again becomes available and is obtained. Borrower shall pay the pr�miums requirecj ro maintain mortgage insurance in ef;'ect,or co provide a loss reserve,until the reGuirement for mortgage insurance ends in accordance with any wrtten agreement between BonQwer and I.ender or applicable law. 9. Inspecfion. Lender or its agent may make reasonable entries upon and 'enspections of the Properiy. Lender shall give B�rrower notice at the time of or prior to an inspection cp�ifying rea.aonable cause for the inspection. 10. Condernnation. The proceeds of any award or claim for d3mages, direct or conseque�tial, in cunnection with any . condemnarion or other taking of any part of the Protserty, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to L.ender. • In tbe event of a tota!taking of the Property,the proceeds shall'oe applied to the soms secured by this Security Fnstrument, whether or not then due, •�vith any excess paid ro Bottower. In the event of a partial taking of the Property itt which the fair market value of the Property immeciiately b�tfore the taking is equal to or greateP than the amount of the sums securecl by this Securiry Instrument immuiiaiely before the taking, unless Borcower and L.ender otherwise agree in writing, the sums secured by this Security Instrument sha11 be reduced by :he amount of the proceeds muldplied by the following fraction: (a) the total � amount of the sums secured immediately 5efore the taking, divided by (b) the fair market vatue of the Property immedia:ely before the taking. Any bslance shall be paid to Borrower. In the event of a partial tak�ng of tne Property in v�hich the fair � market value of the Properiy immediately before the taking is less than the amount of the sums secured immediately before the � taking, unless Borrower and L.ender otherwise agree in writing or unless applicable law otherwise provides, the praceeds shall � �+e applied to the sums secured by this Security Instrument whether or not the sums are then due. � If the Property is abandoned by Fsorrower, or if, after notice by I.ender to Borrower that the condemnor offers to make an � award cr setUe a claim fo!• damages, '3orrower fails ta respond to Lender within 30 days aRer the date the notice is given, Lender is authorized to collect and apply the proceeds,at its option, either to restoration or repair of the Property or to the sums � secured by this Security Instrument, whether or not ih�n due. � Unless L,ender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or 0 postpone the due date of the monthly payments refetted to in paragraphs l and 2 or ci ange the amount of such payments. � 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or mcxlification � �f amortization of the sums securcd by this Security Instrumeni granted by Lender to ar�y succcssor in interest of Borrower shall 0 not operate to release the liabiliry of the�riginal Borrower or Borrower's successors in interest. Lender shall nct be req�ired to � commence procc.dings against any successor in interest or refuse to extend time for payment ur otherwise modify amortization of the sums secured by this Security Instrument by reason of an}� denzancl made by the original Borrower or Borrower's successors in interest. An;• forbearance by Lender i►i exercising any right or remedy shall not be a waiver of or prec!ude the exercise of any right or remedy. 12. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of this Secur�ry Instr�ment shall hind and benefit the successors and assigns of Lender and Rorrower, subject to the provision•: of paragraph 17. Borro�ver's covenanes and agreements shall be joint and sevaral. Any Borrower who co-signs this Sec�rity Instrum�nt but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, gran� and ct>rte�.y that Borrower's interest in the Property under the terms of th�s Security instrument; {b) is not personal!y obligated to pxy '�:c sams secured t,y this Security [nswment: and(cl agrees that Lender and any other Borrower may agree to extend, moclify, ,"r;-bear or make any ascommodations with regard to the terms of tnis Security Instrument or the Note without that Borrower's conser,t. 13. Loan Charges. If thc loan secured by this Security Instrument is subject to a 1aw which sets maximum ioan charges, and that law is finaliy interpreted so that the interest or other loan charges collected or ro tse collected in connection with the loan excee� the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limir, and {b) any sums already collectc� from Borrower which exceeded permittP.d limits will be refunded to Borrower. Lender may choose to make this �efund by reducing t�re principal owed under the Note or by mak�ng a direct ' payment t� Borcower. If a refund reduces �rincipal, the reduction ��i;l be treated as a partial prenayment wi;hout anv � prepayment charge u�der the Note. 14. Notices. Any riotice ta Borrower provided tor in this Security Instrument shall be given by�lelivering it or by mailing, it by first class mail unless applicable iaw requires use of snother methoci. The natice shall be directed to the Property Address or any other address Borrower designates by nc�t�ce to Lender. Any notice to Lender shall be given by first class mai! ro Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Securiry Instrument shall be deemed ta have been given to Borrower or L,er.der when given as providcd in this paragraph. I5, Governing Law; Severability. This Sccurity Insttument shall be governed by federal law and the law of the juri.,diciioii in which,the Property is located. In the event that any provision orclause of this Security [nstrument or the Note conflicts with applicable law, such conFlict shall not affect other provisions of this Security Instrument or the Note whicF can be given effect without the conflicting provision. To this end the provisions of this Security Insr,rument and the tvote are declared to be severable. 16. Borrower's Copy. Borrow?r shall be given one confoiTned copy of the Note and of this Security Instniment. Form 3028 9/90 Peqe 4 of 8 �--..� � . �.