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, , '; � -- �q-it3064'7 ��, _ , p3yments may no longer be reyuired, at the option of L.en�er, if mortgage insurance coverage(in the aanount anc! for the perial that C.ender requires)provided by an �nsurer approved by,L.en3er aga:n becomes available arxi is obtained. Borrower shall pay :he premiums requirer!tu maintain mortgage insurance in effcct,or to provide a loss reserve,untii the requiremert For martgage insurance eods in accordance with any written agreement between Borrower and Ixnder or applirable law. 9. Impectton. 1.ender or its aeent may make reasonable entries upon and inspections of the Property. Lander shall give Borro�cer nocice at the time of or prior to a7 inspection specefying eeasonable cause for tht in�pection. . 10. Condemnation. The proceeds of any award or claim for damag�, direct or consequential, iri connection with any condemnation or other taking of any part of the Propeny, or for conveyance in lieu of condemnation, are hereby a,csigned�and shall be paid.to Lender. In the ever,t of a total iaking�f the Propetty, the procerds shall be applied to the sums secured by�his Security lnstrument, w•hether or not tt:en due, with any excess paid to Borrow�r. tn the e�•ent of a partial taking of the Property in which the fair market v;�lue of the Property immediately before the taking is equal to or greater�than the amount of the sums securcd by this Security Instrument immediately before ihe taking, unless Bomower and Ixnder otherwise agree in writing, thP sums secured:�y this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: �a) the total amount of the sums secured imrr�ediately before the taki�g, divided by (b) the fair market value of the Property immeciiately before the takine. Ar.y �alance sha11 be paid ro Borrower. In the event vf a partial taking of the �roperty in which the fair market value of ttie Propzrty immediately before the taking ii less than the amount��f the sums secuttd immediately before the taking, unless I3orrower and L.erider otherwise agree in writing or unless applicable iaw othenvise provides, the pmceeds shali be applied to thc sums securcd by this Secu:ity Instntment whether or not the sums are then due. If the Property is abandoncd by Bormw•er, or if, af:er notice by LeJxlcr�o Borcower that thc tondemnor offers to make an award or seUle a claim for damag�. Ficirrower fai�s te responc! to Lcrxier �ti�ithin 30 days after the datc the notice is given, Lender i;a��thorize.i io cci�a��and aF�ly the proctetic,at�ts uFtion,eitner to restoration or repa+r of the Propeny or to the sums secarexi ti,,�i�::�cclriry instrurnent, whe:her or nat ehen due. U�Ipc, 'cncier and 9errowe� ethcnv�se agree in writing, any application of pmcettils to principal shall not extend or postpore the due datc nf the monthly paymcnts referred da in paragraphs I ancl 2 or change the amaunt of such payments. 11. Rorroa•er Not Relrased; Forbearance Ry Lereder Net a V'��si�•er. Extensinn of the time for payment or modi�cation of arnortiration of the sums secured by this Security Instrumer�t granteci by Lendcr to any succc�.�or in intcrest of Borrowcr shall not��perate ro release chc liability of the original Borrowcr�r Bormwer's succes��rs in interest. L.cnder shull not br reyuircd to commence proceedings against any succc�sor in interest or refuse to eztencl time for�ayment or othcnvise mocJify amortization of the sums securccl by this 5ecarity Instrument by reasc�n of any demand m�C1c by the origina! Bnn•oa•cr or Borrctiwer'� successors in interest. Any forbearanec by l.ender in exrrcising any right or remedy shall not be a waiver of c►r preelude the exercise of a�y right or remedy. 12. Succetsors and A.csigns Bound; Joint and Several Liabllit��; Co-si�ners. The covenants and agreements of this Security Instrument shall bind and benefit the succ�sors ancl �csigiu o( L.erxier and Borrowcr, cuhject to the pmvisians of parograph 17. Borrower's covenants and agrecrtxnts shall bc joint and se��eral. Any Bormwer who co-signs this Security Instrument but does not excrute the Note: (a) is cv-signing this Security instrument only to rnorteage, grant and convey that Bormwer's interest in the Pr+�perty under the terms of this Security Instrument; (h) is not personally obligated to pay the sums secuirci by this Security Instrument; and(c}agrees that Lerxier and any other Borrower rnay agree to e!etend, mcxlify, forbear or make any�accomi;mdations with regard to the terms of this Security Instrument or t�e Note without that Barrower's consen�. 13. I.oan Charges. If the loan secured by this Security lnstrument is subject to a iaw whic�i sets maximum loan charges, and that law is finally interpreted so that the interest ar other loan charges collected or to b�,collected in connection with the ioan excee:i the permitteci lirnits, ;hen: ,a)any�uch loan charg�shall be reduced by the amount necessary to reciuce the charge to the permitted fimit; and (b) any sums already co3iected fmm �rrower which exceecied permitted limits will be refunded to Borrow�er. Lecuier may choose to make this rclund by reducing the principal rnvecl under the Note or bv making a direct pa}�ment ,o Borrower. If a refund reduces principal, the miuctian will be treateci a.e a partiai pmrayment without any prepa}•ment charge under the Note. 14. Notices. Am� notice to Borrou•er provided for in this Security Instsument shall be�iven by delivcri�g it or hy mailir�g it by lirst class mail unlns appiicable law requines u�e af another rnethod. The n�tice stiall be directecf to the i'roperty Address' _ or any �ther acldre�� Aorm«•er desi�nates by nc�tice to l.ender. Any naeice to L,ender shal) bc gi�•en by first class mail to Lc�idcr's a�dress �tnted hcrcin or any other addrcss Lernier desi�nates by noticc to Borrower. Any noticc provided for in this S.^curity 1n�trument shall be dccmed to have Exen given to Borrower or Lerxler when gi�•en�.e provided in this par�graph. 15. Go�•erning La��•; Se�•erabilit�. Thes Security Instrument shall be gmernec! by federal law and the law of the jurisdiction in ��•hich the Pmperty i� iocated. fn tne event shat any pmvision or dause of this Security lnstrument or the Note contlicts�vith applicable la�t�, such con(lict:hai! not affect other provisions of this Security lnstrumcnt or the Natc which can t�c given effect �ritiiout the con[�ictin� provision. To this end the procisions of this Security Instrument and the Vote are declared to be se��erable. 16. Borro��er's Copr�. Borrower shall be given one e�nforrTx�d�npy of the Note and of this Sece:rity Instrument. Form 3028 9/90 :�e4o(5 � � i1 ,