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� 99 110006 paymenis may no longer be reyuireJ, at the oplion of Lender, it mortgage insurance coverage (in the amount and [or Ihe perioJ that Lender reyuires) provided by an insurer approved by Lender again becomes available'anJ is obtained. 13orrower shall pay the premiums reyuired to m•rintain mortgage insurance in effect, or to provide a loss reserve, until the reyuirement for morlgrgc insurance ends in accordance with any written agreement between Dorrower and Lender or applicable law. 9. Inspecllun. 4ender or its agent may make reasonable cnlries upon and inspectiuns of Ihe Properly. LcnJcr shall givc 13orrower notice at the time of or prior to an inspeclion specifying reasonable cause for the inspec�ion. IU. Condemnatlon. The proceeJs of any awarJ or claim for damages, direct or conseyuenlial, in connection wilh any condemnation or other laking of any part of lhe Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paiJ to Lender. In the evenl of a lolal taking of the Property, the proceeds shall be applied to lhe sums secured by this Sccurity Instrumeni, whether or not then due, with �ny excess paid to Dorrower. In the evenl of a partial taking of the Properry in which the fair markel value of the Yroperty immeJiately before the taking is eyual lo or grealer than the amuunt of the sums secureJ by this Security Instrument immedietely before the taking, unless F3orrower and Lender otherwise agree in writing, the sums secureJ by this Securily Inslrumenl shall be reduced by the amounl of the proceeds multiplied by the following fraction: (a) Ihe lotal amount of the sums secured immcJialcly before the taking, divided by (b) the fair market value of �he Property immedialely hetore Ihe tuking. Any balunce shall Ue puiJ lo Borrower. In Ihe evenl of a partial taking o! Ihe Properly in which Ihe feir murket valuc ot lhe Pruperty immeJiatcly be(ore thc taking is less Ihan the amounl of lhe sums secured intmedialely bc(ore thc laking, unless F3urrower anJ Lender otherwise agree in wriiing or unless applicable law otherwise provides, Ihe procceds shall be applied to the sums secured by this Security Instrument whe�her or not the sums are then due. If the Property is abandoned by Borrower, or if, nfter notice by Lender to Borrower that the condemnor offers �o make an awarJ ot setUe a claim for dam�ges, Dorrower fails lo respond lo Lender wilhin 30 days after Ihe dale the nolice is given, Lender is uuthorized to collect and upply lhe proceeds, at its oplion, either to restoration or repair of thc Property or lo Ihe sums secureJ by this Securily Instrumenl, whether or not then due. Unless LenJer unJ Dorrower olherwise agree in writing, any application of proceeJs to principal shall not extend or postpone the due date of the monlhly paymenls referred to in paragraphs 1 and 2 or change the amounl of such payments. ll. 13orruwer Nol ReleaseJ; Forbearance liy Lender Nol a W aiver. Extension of the lime for payment or moJificeiion of amortizalion of the sums secured by Ihis Security fnstrumenl granted by Lender lo any successor in interesl of [3orrower shall not operate to release the liability of Ihe original l3orrower or I3orrower's successors in inleresl. l.ender shall not be rcyuireJ to commence proceedings agninst any successor in interest or refuse to extend time for payment or otherwise modify amorlizalion of the sums secured by this Securily Instrument by reason of any demand made by the original Dorrower or liorrower's successors in interesl. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude �he exercise of any righl or remedy. 12. Successors and Asslgns 13ound; Jufnl and Several Liabilily; Cu-signers. 'I'he covenan�s anJ agreemen�s of ihis Security Instrument shall bind anJ benefit the successors and assigns of Lender and Borrower, subject io the provisions of paragraph 17. F3orrower's covenants and agreements shall be joint and several. Any Dorrower who co-signs this Security Instrumenl but does not execute the Note: (a) is co-signing Ihis Security lnslrument only to mortgage, granl and cunvey that Borrower's interest in the Properly under the terms of this Security lnstrumen); (b) is not personally obligateJ to pay the sums secured by Ihis Security Instrumenl; and (c) agrees thal Lender anJ any other porrower may agree to exlend, modify, forbear ur make any accommodations wilh regard to the terms of this Security Instrument or the Note without lhat F3orrower's consent. 13. Loan Charges. If Ihe loan secureJ by this Security Instrument is subject to a law which sets maximum loan charges, and lhat law is finally interpreteJ so Ihat Ihe inleresl or other loan charges collecled or to be collected in connection with Ihe lo•rn nxceed the permitleJ limits, lhen: (a) any such loan charge shall be reduced by the emounl necessary lo reduce Ihe charge to the permiued limit; and (b) any sums already collecleJ Irom Dorrower which exceeded permitted limits wilt be refunded to Borrower. Lender may choose to make this refunJ by reducing the principal owed under the Note or by making a direc� paymenl to Borrower. If a refund reJuces principal, thc reJuclion will be lrealed as a parlial prepaymenl wilhoul any prepayment charge unJer the Note. l4. Notices. Any notice to Uorrower provided for in this Security Inslrument shall be given by delivering it or by mailing it by firsl class mail unless applicable law reyuires use of �nolher method. The notice shall be JirecleJ to Ihe Properly Address or any olher address Borrower Jesignates by notice to Lender. Any notice lo Lender shaU be given by first class mail lo Lender's aJdress stated herein or any other address LenJer designales by notice to Borrower. Any notice provided for in Ihis Securily Instrument shall be deemed to have been given to l3orrower or Lender when given as provided in this paragraph. l5. Governing Law; Severabilily. This Securiiy Instrumeni shall be governed by federal law and the law of the jurisdiction in which �he Property is located. In the event that any provision or clause of this Securily ►nstrument or lhe Note conflicts with applicable law, such conflict shall no1 affect other provisions of this Security Instrument or the No1e which can be given effect without the conflicting provision. To this end the provisions of this Securily Instrumenl and Ihe Nole are declared lo be severable. 16. Borrower's Copy. Dorrower shall be given one conformed copy of the Nole and of this Security Inslrumenl. Form 3028^9/80 �-BRINE) �o��si.o� v.o.s o�e � ��- m i�ui.i.:J�— �