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a ments may no longer be reyuired, at the option of Lender, if mortgage insurance coverage (in the amount and for the period PY that Lender requires) provided by an insurer approved by Lenderragai rov de aelossreserve�until thearequirBment for mo gage the premiums required to maintain mortgage ins T anment between Borrower and Lender or applicable 1aw� Lender shall give insurance endsin accordance with any written ag • 9. Inspection. Lender or its agent may make reasoeCb�eri nreasonable ause for henn pect on.r�perTy- '' Borrower notice at the time of or prior to an inspection p fY g es, direct or consequential, in connection with any � 10. Condemnation. The proceeds of any award or claim for damag or for conveyance in lieu of condemnation, are hereby assigned and � condemnation or other taking of any part of the Property, `.i shall be paid to Lender. the proceeds shall be applied to the sums secured by this Security Instrument, � In the event of a total taking of the Property, �n which the fair W whether or not then due, with any excess paid to �t�ner'�s equal to or grea er�thaan he amounteof theesu►ns secured by this market value of the Property immediately before t g ree in writing, the sums secured by � Security Instrument immediately before the taking, unless Borrower and Lender otherw�se ag the total the fair market value of the Property immediately this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a amount of the sums secured immediately before the taking, divided by (b) before the taking. Any balance shall be paid to Borrower. 1��s ethan the am unt of th�sums secu ed '�immed a ely�before the market value of the Property �mmediately before the talang is roceeds shall taking, unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides, the p 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 notpd oyLenderr witB n 30 daysaafter the da e the noticeois1g ven, award or settle a claim for damages, Borrower fails to respo 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 then due. a lication of proceeds to principal shall not extend or Unless Lender and Borrower otherwise agree in writing, any PP postpone the due date of the monthly PaY�rance Br�Lender Not aaWaiver�. Extens on of the t me fotr paymentaor�modification 11. Borrower Not Released; Forb Y of amortization of the sums secured by this Security Instruman��OWe bysuccessors n,nt re tSSLender shalltnot berrequired to not operate to release the liability of the original Borrower o commence proceedings against any successor in interest eason of an e demand made by�the or ginalr Borrow�erl or Bor owtero's of the sums secured by this Security Instrument by r Y successors in interest. Any forbearance by Lender in exercising any right or remedy sha11 not be a waiver of or preclude the exercise of any right or remedy. 12. Successors and Assigns Bound; Joint and o S��d assa ns�of Lend enand Borrower,nsubject to theepro isions hof Security Instrument shall bind and benefit the success g paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Secunty Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under�the rees th t Lender and any tother nBorro)wer may agr�eeatoy te d t modify,yfohbear�or secured by this Security Instrument; and O ag 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 secured by this Security lnstrument is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the int�hsloan�char e�shall beg educed by the amount n�cessary to educe the ch ge loan exceed the permitted limits, then: (a) any su g to the permitted limit; and (b) any sums alreade�nd b er educingthe pri c pal owed u der the N te ors by,makingUa daect Borrower. Lender may choose to make this y payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by ma� mg it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designatesrby�dress Lender desig at s bytnotice t eBorrowerl Anylnoti e provided for in�th� Lender's address stated herein or any othe Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall n�ha�f�c�the� po�vis ns of thhs�Seeurity Instrumenttandtt e N�ot are declared grven effect without the conflicting provision. To P to be severable. 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instr F�3028 9190 Initials�. Page 4 of 6 �_s�N�(9212).04 m