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93.. 1o0;3c~o payn+ents may do longer be required, at the option, of lender, if mortgage insurance coverage (in the amount and for the period that Lender requires) provided by an insurer approved by L.cndcr again becomes available and is obtained. Borrower shall pay the premiums required to maintain mortgage insurance in effect, or to provide a loss reserve, until the requirement for mortgage ' insurance ends in accordance with any written agreement between Borrower and Len•rer or applicable law. 9. Inspection. Under or its: agent may make reasonable entries upon and .;c,pections of the Property. Lender shall give Fiorro«cr notice w the time of or prior to an inspection specifying rmsonable cause for the inspction. M Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall t%c paid to Lender. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security instrument, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Prol erty in which the fair market value of the Property immediately before the taking is eq'ial to or greater than the amount of fl. si ms secured by this Sceuritv instrument intntediately before the taking, unless Borrower and Lender otherwise afire in writing, .he sums secured by this Security Instrument shall be reduced by the arnount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property immediately before the taking is less than the amount of the sums secured immediately before the :ae lag un:c ; Borrower and Lender otherwise agree in writing or unless applicable lave otherwise provides, the proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. if the Property is abandoned by Borrower, or if, after notice by fender to Borrower ;hat the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair cf the Property or to the sums secured by this Security Instrument, whet::. - or not then due. Unless Lender and Borrower otherwise ^c in writing, any application of proceeds to principal shall not extend or postpone the duc date of the monthly p,-,,ocnt; ,eferreo in paragraphs I and 2 or change the amor-t of such paymerr's. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or mrxlification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall riot operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not tic required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy, 12. Succcwsors and Assigns Bound; Joint and Several Liability; Co-signers, The covenants and agreements of this Security instrument shall hind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17, Borrower%; covenants and agreements shall be joint and several. Arty Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security instrument only to mortgage, grant and convey that Borrower's intcrc.a in the Property under the terms of this Security Instnument; (b) is not personally ohlieated to pay the sums secured by this Security instrument: and (c) agre.s that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security instrument or the Note without that Borrower's consent. 13. Loan Charges. If the loan wcurcd by this Security Instrument is subject to : law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or rte be collected in connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit: and (b) any sums already collected from Borrower which exceeded permitted limits will he refunded to Borrower. Lender miry choose to make this refund by reducing the principal owed under the Note or by staking . direct payment to Borrower. If a refund reduces principal, the reduction will he treated its it partial prepayment without any prepayment charge under the iNote, Id. Notico. Any notice to Borrower provided for in this Security Instrument shall he given by delivering it or by mailing it by first class mail unless applicah!c law requires use of another method. The notice shall be directed to Ilse Property Address nr ;iny other address Borrower designates by notice to Lendcr. Any notice to Lender shall he given by first class mail to L.endcr's :v1dre+s stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Security Instrunicnt shall be deemed to have been given to Borrower or lender when givers as provided in this paragraph, 15. Governing Law; Severabilily. This Security Instrument shall he governed by federal law and the law of the luriuliction in which the Property is located. in the event that any provision cr clause of this Security Instrument or the Note conflietr with of piicahle law, such conflict shall not affect other provisions of this Security Instrument or the Notc which can he giVCrl effect wit;itiut the conflicting provision, To this end Ittr provisions of this Security Instrument and the Note arc declared hY he wverahlc. Ih. Borrower's Copy. Borrower shall be given one conformed copy w t!r, Note and of this Security Instrument. Form 3028 9/90 Pop 4 f 1, r