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sub�tantialiti cyui4alrnt m��rtga��c instorance c�veragc is not a�•ailable. Burrrn��er �hnll pay tu Len�lrr cach rncmth ;i si.im equ;tl ti,
<br /> .inr-n�;eiftl� hf thr �carl; mc,rt�age in,urance premium being paid by Borro�ticr when the insurin�e cc,�crage lapsecl �,r re<ise�l te,
<br /> be in effect. Lender ti ill acccpt. use and retain these payments as a lo�s resen•e in licu of m�rtgage i�isur�nce. l._uss rescr��e
<br /> pu�;nent� may nn Ini�ger he rryuired, at the option of Lender, if mortgage insurance co�'era�e(in the :u7iount and for thc period
<br /> thai Lcn�lcr rcyuirc:) pre,.ided b: ain insurer approved by L.ender agait� becomes availnble a�id is ohtainrcl. B��rro�ti�cr shall �;iy
<br /> tlrc prcniium� reyuircd tn maintain mortgage insu*ance izz cffect. or tu provide a loss resen�c, until the reyuirement ti,r mort�agc
<br /> in�urancc ends in accor�lnnce witL any �ti•ritten agre.:ment betv;een 8orra��er and Lender or applicahle la�v.
<br /> 9. inspec4inn. Lender or ic� agent may make reasonabte entries ��pon and inspecti�ns of tiic Propertv. Lender sSiail gi��e '
<br /> B�rrc��ver notice at the time��or prior to an inspection speciFyin� reasonable cause for the inspecticm.
<br /> 11l. CondemnutioQi. The procc.e:is of any a�xard or claim t�or dama��es, direct or c<�nsecRuential, in connection ��•ith anv
<br /> cc�ndemnatiort or other takinfi a�any pWrt of the Property, or for conveyance in lieu of'coaclemnaticm, xre hereby assigned anc�
<br /> shali be paid tti Lender.
<br /> (n tF�e event of a total taking of the Prc�oerty. the procecds shall be applied to the sums secured by thit Sccurity lnstrument,
<br /> whethcr or not thcn -!uc, ���ith any cxress paid ua Borcower. In the event of a partjal taking af thc Pr pert�� in which thc f:iir
<br /> markct ��alue of the Prc>perty immediateiy before the taking is eyual to or greater than the amount of t�ie sums securce! hy this
<br /> Securit�� ii�strument imrnediatcly beFi�re the takin;;, unless B�rrotver._ .d Lcnder otherwise agmc in writing, the surns tiecurcd hy �
<br /> this Security fn�trument �iiall be red�ce�l by the amouni of t��e prorc;eds muitiplied by the followin�� fraction: (a) the total
<br /> amourzt of t�;c sums secured immediately before: the takine, divided t�,� (b) the fair markct value of the Property immediatcly �
<br /> before the takir.g. Any ha!ance shall be paid to Borrow•er. In the ev�:ni of a partial taking of the Property in wizich the fair 1
<br /> market value �f the Property immcdia[cly lxforz the takin�, is less than the amount of the sums secured immedi::�ely before the �
<br /> taking, unless Borrower and Lcndcr otherwisc ;agrec in writing or unicss aPplicable la�v othcrwisc provide�, the procceds shali C
<br /> he applied tc�the sums sccured by this Security 'In�trument whelher or not the sums are then due. 4
<br /> !�the Property is ahandoned by Boirc�wer, or if, after notice by k.ender tei B�rrc,�ver that the condemnor offers t�make an �
<br /> a���ard or seicle a claim fi�r damaaec, Borrower fails '.o respond to L,ender «�ithin 30 days after the �iale 1hc noticc is given. �
<br /> Lender iti authorized ro ccillcct and apply the pr�ceeds, at its option. either to restoratie�n or repair of the Property or to the sums
<br /> securecl b� this Securitv instrument, �vhether or n�it then clue. '�
<br /> Unless L.enuer a�!d Borro���er othcnvise a�rce in writing, any :irplicati��n c�l� pr�iceceis t�� Prinripal shall ne�t e�ctcncl e�r
<br /> poiip�ne the due date of the monthl�� �aymenis rcf�crrcd to in raraZ,raplis ! anel 2 c�r cham,c th�amuunt ��(such ra}'nunts.
<br /> 11. Borro��er �ot Relea�rd; Fnrbearance Br� l,ender Nut a Wai�•er. Extcn�ic,n uC the time (�n• rayment �ir mexliGcati�,n
<br /> uf anxirtization of thc sum��crured by this Secarity Instrumcnl s:rar,tr�! by Lrn�lrr tc�viy sucress��r in intcrc�t ��f B�irr<�wcr shall
<br /> not o��erate to rclease the fiahilit} c�f the original Borrnwer or Qcirruwer's sucre�s��rz in intere.t. l.endcr shail niit he rryuirrcl t��
<br /> commence �mreediiigs against any successor in interest or refuse tci extend timc fc�r �iayment ��r c�therwise nx�dify amortizatic�n
<br /> of ihe sums seciirca b�� this Security instTUment by reas�n of any� elemand m;idc hy the e�riginal Biirr�iwer c�r I3i�rm���cr's
<br /> successors in intcrest. Any forbcarance liy Lend�r in exercising ,iny ri�!u c�r remeJy sha11 ncit be a waiver �if or �reclu�le 1hc
<br /> exercise of anv rieh!or reme�iy.
<br /> 12. �uccessors and Assi�ns Bou�id; Josnt and Severat i.iah�ilit}: C�>-si�;ners. The covenants aiid agreeinent� uf lhi�
<br /> Seci�rit�� lns!rument sh:ill bii�d an� bei�efit the succes�ors and assigins cif Lender arnl Burrower. suhject t�, 1he pre�visirnis ��I�
<br /> pura;�raph 17. Borr��wer's c��vcnant� and agreements shall be jt�int anel se��rral. Any 8orrower wh�i c<�-si�,ns thi� Sccurily
<br /> lnstrument but does not execute the Ne�te: (a) is co-signinc this Securitv Insirumcnt onl�� ti� mort��a�e. grant antl remvc}� that
<br /> B�vrower'S interest in the Propert� under the terms c�f this Security Instrumrnt: (h) is not �xrs�mally c�bligated tc� pay ihe �ums
<br /> secureci b}• this Security Instrunie�it: and fc} agrees that Lender ai7d any c�ther [3c�rro���er niay a�ree to extend, m��Jify, 1'cirhear or
<br /> rnake am accommoclations with re��ard ro the temis��f this Securicv ]n�strument c�r the Note without that Bcirrc�wer'e ronsent.
<br /> 13. Loan Cl�arges. if the Ic�:�n sec»red by this Security Instrunient is subjcct to a law �ahich sets maximum loan charges.
<br /> ;incl that la�ti is finall�� interpretrd �o th�it the interest or other !oan charges cullected ar to be collected in connection with the
<br /> loan eeceed tlie Pennitted limits. tlien: i,a) an}� such loan charge shalll be reduced by the amount neccssary t�i r�duce t{ic charge
<br /> tc� the permitled limit; and (h) an, �:ums already collected I'rom Borrower which csceeded permitted limits will be refuncled tu
<br /> Burro���er. Le�tder may choose t�� malce this refund tiy reducing the principal owed under the Note or by n�akine :t dircrt_
<br /> pa}�nrent to Borro�+�cr. If a relur� n�duces principal, the reducticm µ�ill be trcated as a partial prepaymcnt without any '
<br /> �rcraymcnt ch,irgc undcr the N�ne
<br /> 14. \otices. .Any noticc tc� B-�rrci���cr pro��idcd fc�r ici tliis Sccurih� Instrumrnt shall hc gi��cn hy dcliv�ri!�tit it ��r hy ni:�ilin�,
<br /> it b� first class mail un'less applic:hle law reyuires use of anc�ti�cr mcthcid. '1'he nc,ticc shall he�lirerted to the Fre��c�!v Aclelre��
<br /> j or an�' other actJress Bc,rrower desi�_.;nates bv nc,tice t�i 'Lcnder. A�ry noticc t�i I.en�lcr shall he given by li!•sl ciasti ma;! tu
<br /> Lcnticr's adclress �tatcd hcrcin or :�,�y othcr address Lcndcr dc�i,�nal�:s hy notirc tu B��rrcia�cr. �1ny n�nicc �irciviticcl f��r in this
<br /> Securit�� In.trumcnt .��.ill be�Ice!n�:l tci have heen ��i��cn ti� B��rn,�ver��r L�n�lrr��hrn �_i�•en as pnrvielcd in�his ��ara;�r;i��li.
<br /> I�. Go�ernin�; La�s; Se�erabilitv. "fhis Security Instrumcnt shai�! be g�,vcrncd hy I'alcral la�� anil thr I,i« ul' !hc
<br /> .luri�diction in ���hich the Pmpert} is located. ln the cvent that any prrnrnision c�r rlause e�l�this Securil�� lnstrum�_nt e�r the N��ic
<br /> contlicts ��ith ❑pplicable law, cunc ��mflict shal! not affect ��ther rr�wi�ions c�f this Srcurily instrumm�t �ir Ihe Ncite��'hicii c;in hc
<br /> � '`,�i �:iiix�ut tiic conflictim_ provision. To this end the provisions of�this Sccurity Instrument and the Notc arr dcclamd
<br /> I �"'-.. ..,��
<br /> I. t�bc �cverahlc.
<br /> � 16. I3orru�cer's Cap�. Ac�rrc�«er shail be given one confonned e�apy of the Ne�te a�ul of this Securit�� lnstrument.
<br /> 17. Transfer of the Propert� or 2 lieneticial lnterest in Rorr���ver. If all or any r:irt cif thc f'roFx�rty ��r any intcretit in it
<br /> is u�l�l c�r transferred (or if a benc��,�i;sl 'snterest in Borrc�wer is sold tir transferred and Be�rmwer i� nc�t a n;�tural rer�on) without
<br /> � Lencicr's pric�r �vrittcn consenC. L�nder may, at its optior:. reyuire immee!iate payment in I'ull �3f all sutns secured hy this
<br /> Security ]nstrumcnt. fim�•ever, thi�op�,�n shall not be exerciscd by Leniler if cr•ercitie is prohibiled by federal law as c�f the�iate
<br /> of this Securilv Ins[rumeni.
<br /> If Lendr.r exercises this vption. Lender shall give Borrower noti�:e o;acccleration. The notice sh;xll provide a period ol'n�it
<br /> less than �0 da}'s from the date t'�e notice is delivered or mailed �ithin which 8orrower must pay uli sums secured by Ihis
<br /> Securily Instrument. !f Br�now•er f:iils;o pay these sums pri�r to the expiratic7n of this periad, Lender may imoke any remedies
<br /> pcnnitteu b�� this Securitv Instrument without furthe*notice or deman�l on Borroa�er.
<br /> l8. ['sorro��er's Right tu °Zei�istate. If Borrc�wer meets cercain cr�ndilioits. Bc�rrrnvcr siiall h.rvc thc rigl�t t<i ha��e �
<br /> enf��recnicnt oi iiiis Sccurity Inst;_!men[ cliscontinued at any fime prior lo the earlier e)': (a) 5 days (<�r such c�thcr period as
<br /> applicable law may specify for reinstatement) before �Ie of ihe P•operty pursuant to any p�iwer cif sale contained in this
<br /> Scruritv InctrumenL• or(h)entry c�f ajuclgment enforcing this Securit� Instrument. Thc�se ccmditions �;re that Borrower: (a) pays
<br /> Lendcr �ill �une� �vlzich then �vc�ul�l hc due under this Security Instruinent and the Note as if no acceleration !iad occurrcd; (b)
<br /> cures any detault cif any otl!ier co�cnants �r aereements; (c) pays all expenses incurred in enfurcinc thie Securitv Instrunx�nt,
<br /> includir,�" but nc�t lin;itcd t��, reasemable attorneys' fee;; and (d) takes such action as Lender may rrasonably rcquire to assure
<br /> tliat the lien of Ihis Serurit�� lnstrument, Lender's rights in the Prc�p<r.�ty and Bc�rrc�wer's obligation to pay the sums secured bv
<br /> this :iecurit} Instr�.tment shall continue unchanged. Upon minstat�ment by Borrower, this Security Instrument and the
<br /> obli�.ations sccured f�r_reby shall remain (ully effective as if no accelcration had occurred. However, this rieht tc� reinstate �hal!
<br /> not appl}� in ¢he casc nf acccicrati«u undcr paragraph 17.
<br /> 19. Sane of '\'oic; f,han�;e ��f' Lc�an Servicer. The Note or a �artial intcrest in th� Note (toeether with this Securiry
<br /> Instrwnent) rna�� bc sold onc or nin .� timcs without priar notice to Eiurrow�er. A sale may result in a dwnge in the entiry (known
<br /> as thr "Loan Scrvir_cr") that collec'-. monthly pnyments due under the ,Vote and this Security instrument. '1'herc also may bc onc
<br /> o�:more changes��Y the Loan Servi, r unrelated ro a sale of che Note. TF there is a�hange of the Loan Servicer, Borrower will he
<br /> g,iven writien notice of the change ; accordance with paragraph 14 above and applicable law. The notice will st�te the name:in�l
<br /> ,iddress of the new 1_oan Seivicer nd tlie address to which payments should be made. The notice will also contain any other
<br /> infurmation reyuircd by applic:able .iw.
<br /> 20. Har.ardous Substanccs. ;c�rrower shall not cause or permit the presence, use, dis�sal, storage, or release of any
<br /> Hazardous Substanccs on or in t� Praperty. Borrower shall not du, nor allow anyone else to do, anything affecting the
<br /> Property �hat is in virlati�;>n of ar. Environmental Law. The precedirg two sentences shall not apply to the presence, use, ar
<br /> si.orage on th�_ Property of small u .tntitics of Ha7ardous Substances N:hat are generally recognized to be appropriate to normal
<br /> resid�ntial uses and to maintenance �f the Property.
<br />� r.oe a oi a Form 3028 9/90
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