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� ' . , . �� �� _ ;.': s��_ '�(�Cfi�f payments may� ric�lonbec be required, at the option cf I.ender, if mortgaAe insuran.e coverage(in the amount and f�r the period that Lender rcquires} provided by an insurer approved by L.ender again becomes available and is obtained. Borrower shall pay ;he fircn�iums reyuired to maintain mortr�age insurance in effect,or to provide a loss reserve,until the requirement for mortgage insurance ends in accorciance with any written agreement between Bar-ewer and Ixnder ar applicable law. =� 9. Insmctiore. i.rr:!cr or its agent may ma1:e reasonable entri�t upon and inspectians of the Property. Lender shail give F3orro«er�otice at tiie ti�nc of or prior to an inspection specifying reasonable cause for the in�pection. 10. f:ondemnation. The proceeds of any award or claim for damages, direcc or cQnsequential, in connection with any cor.demnation or other takin� ef any part of the Yroperty, ar for con4�eyance in lieu of condemnation, are hereby assigned and shail bz paid tc� Lcnder. �� In chc event of a total taking of the Property,the proceeds shal! be appfied to the sums secured by this Security Instrument, �tihether or not then due, with any excess paid to Borrower. In the e�•ent of a partial ta_king of the Pie�erty in which the fair market �a!ue of the Property immediatety beFore the taking is equal to or gre3ter than the amount of the sums secured by this Security lnstrument immediately before the taking, unless Bormwer and Lender othenvise agree in wrirting, the suins secured by this Security Instrument shall be reduced by the amount of the preceeds multiplied by tY�e fo{lowing fraction: (sl the total amount of the sutns sc.�cured immediately befc�re the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shail he paid to Borrower. ]n the event cf a partial taking of the Property in which the fair market �aluc a(the Propercy immediatet}� before the taking is less than the amount of the sums secured immediately before the taking, unless Borrower ard L,ender atherwise agree in writing or nr.less applicable law otherwise provi�les, the proce�, shall be applicd to th�sums se:ured by this Security Instrument whether or not the sums are then due. If the Property is abandone_d by Borro�ver, or if, aiter notice by Lender to Bormwer that the condemnor offers ro make an award or settle a claim for damaees, Borrow•er fa�ls to respond to L.ender wiihiri 3a days after the �iate thc notice is given, Lender i;authorized io collect and apgly the proceeds, at its option, either to resioracian or repair of the Property ar to the sums secured by[his Security Instrument, wfiether or not then due. Unless Lender and Bo�-rower othenvise agree in writin�, any application af proceeds to principai shall not extend or po�tpon�the due date oi the monthl}•pa�•ments referred to in paragraphs i and 2 or change the amoant of sach payments. � l l. F3orrn�i•er tiot Reieased; Forbearance B}� Lender Not a �Vaicer. Gxtension of the time fc�r paymcnt c�r modification of amorti�ation of tt�e sums secured by this Securiry Instrument grar�ted by L,ender to an��successor in interest of Borrower shal( not operate t� relcase the liability of the o;i£inal Borro�ver or F3orrower's;ucccssors in �ntcrest. Lender shal{ not be rcyuired tci comnzence Proceedin�s against ary successor in interest or refuse to cxtend time for payment or c�tfierwise modify amortization of tt�e sums s^curecl by this Securit}� Instrunient by reason of any demand made by the original Borrower or Borrowcr's successors in interest. Any forbearance hy Lender in exercising any right or remedy shaU not he a waiver of or preciude the exercise of any right or remedy. 12. Successors and A�.signs i3ound; Joint and Several Liabili4y; �Co-signers. The covenants and agreements of thic Security Instrunzent shall bind and benefit the successors and assigns of Lender and Borrower, ;uliject to the provisions of paragraph 1?. Borrower's covenants and agreements shall be joint and se�•erai. Any Do�rawer who casigns this Security Instr�ment but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and conv�y that t�arru��cr's interest in the Propert�� under the terms of this Security Instrument; (b) is not personally obligated to pay the sums securcd by this Security insio.:^+.ent; arid (c)agrees that I.ertder and an��other Borro��er may agree to extend, modify, forbear ar _ make any accorTtmvciations with regard to the i�^ns of this Secu�ity Instrument or the Note without that Borrower's cansent. � 13. Loan Cha►-�;es. If the loan secureci by this Security Insirument is subject to a law w•hich sets maximum laan charges, and that law is final{y interr;reted so that �he irterest or other loan charges collected or ro be collectecl in corenection with the � loan exceed the permitted limits, then: fa) any such loan charge shall be reduced by thc amourt necessary to redt;ee the charge to the aennitte� limit: and (b) any sums already collected from Rorcower which exce�ded permit,:ei limits will bc refunded to Borrrnrer. Lender may choose tr� make this refund by reducing the principal ou•ec1 under the Note or i�y !nakin�; a direct payment to Borro�aer. If a reiund reduces principal, the reduction will be treatecl as a partial prrpayment without any prepayment charge under the Note. 14. Notices. �ny nc�tice to Borrowcr providc�i for in this Security Inswment shall be given by delivering it or by rziailing it b�� first class mail unless anplicable �aw• reqsires use of another methoci. The �otice shall be directed to the Property Address � or a7}� o!her a:ldress Borrower designates by notice to L.ender. Any not'rce to Lender shall be given by first class mail t� r i_ender's address stated herein or ary� other address Lender dPssen3tes by notice to Borrower. Any notice pmvided for in this Security Inctnimer,t shall be deemec�to have b�en given to Borrower or Lender w•hen given as provided in this paragraph. 1�. Gc��erning La«�; Severahiiit}•. °fhis Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Yrcperty is located. In the event that any pravision �r clause of this Security Instruntert or the Notc ccmflicts w;th appficable law, such conflict shall not affect other provision.s of this Security Instrument or the Note which can be �icen effect «�ithc,ut the conilictirg provision. Tc this end the provisions of this Security Instrume�it and the Note are declared to he�cverable. I5. Borre"•er's Cop}�. Bo;rower shall be given one conformed copy of the Nate and of this Security tnstrument. Form 3028 9/90 Pege 4�l 6 k