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<br /> p�ymento may no lon�er be rcquired,u the optian of Lcndor. if mort�o�e insurnnce cover�o(in thc Nmnunt and for tho period
<br /> th�t Lerider roqui�+e�)provlded by an iniwrcr wppruved by Lender ayrin becomer awil�ble�nd fa obtrinal. Hunuw��ludt pay
<br /> — ---- - tfic p��iii�um:rWuirai W r��iat+.fu r.-�art�. ir�;uranc�in cffcrt,ar to provide a loss resefve. unti!thr reyuirement far tnort�a
<br /> inwrsncx end�in accordu�ra with uty wrltten a�roement t►etwoen&�rrower wnd L.cnlcr ur opplicuble Irw.
<br /> 9. I�pectioa. I.e�xfer��r U���ent mry mrke rcautionable¢nt�ien upun wx!irupocNuru� nf tlw Pmperty. L.en�icr rh�ll�ive
<br /> Borrower ncitice at ihe time of c�r pri��r tu an in►pectlon apaifyin�re+�w,n�bic cwxc fi�r the inxportiai.
<br /> 10. Condem�fbn. The pmroedc of any awrrd or cidm fnr cl�m�ea.dir+cct ur cun�+equontlal. In connoction with xny
<br /> --��:._ _ �
<br /> rnndemrwtion ar aher tokinQ of�ny purt of the Pmperty.ur for conveya�x�In Uau of c�mdemnutla�.wro hereby�sni�nod and
<br /> — alult be paid to Lender.
<br /> In thc evcnt of u total taking of the Prapeny,the proceais shall be xppli�d ta the uumx i.ccurccl by this Secudty[nstrument,
<br /> whether or not then due, with any cacess puid to Bonower. ln the cvent of�partiol taking af tlw Fhraperty in which thc f�ir
<br /> �- --- muket value of the Property immociiately befare the taking is equ�l to or greater than the umount of the sums socurod by this
<br /> Secudty Instrument immodiutcly beforc thc taking.unless Borrowcr ancl L.ender othorvviise agra in wciting.the sums socured by
<br /> -"'� this Secudry Instrument shnll be reducat by thc amount of the proceeds multiplied by the following f�action: (a} the toWl
<br /> — - amount of the sums secured immediatety before the taking,dividod by (b) the fair market valuc of the Property [mmediAtely
<br /> — -----� before the taking. Any balance shall be paid to Borrawer. In the event of a partiul wking of tix. Property in which the fair
<br /> _ market value of the Property immediately befare the taking is less than the amount of the sums securod lmmediately beforc the
<br /> �� taking. unless Borrower and I.ender otherwise agree in wrlting or unle.gs applicable law othenvisse pravides,the procetids shall
<br /> ����_A
<br />--- _—�_—_ — be applted to the sums secured by this Security Instrument whether or n�t th�sums are then�iue. —
<br /> -•�� �� � If the Praperty is abandonr.d by Borrower,or if.after notice by Lender to Bonowcr that the condemnor offcrs to make an
<br /> ,:,;, , . � awnrd or sctde a ciaim for danmges. Borrower fails to respand to Lender within 30 days after the date the notice is given,
<br /> r...�,�
<br /> •�:�;;.�:.• L.ender is authorized to collect and apply the proceeds,at its optton,eith�r to restarntion or repair of the Property or to the sums
<br /> , . �,�,..
<br /> secured by this Security Instrument. whether or not then due.
<br /> ' � ���� Unless I.ender and Barrowcr otherwise agree in writing, uny application of prceecds to princlpul shall not extend or
<br />_ . ... ax.,Ni��.,, y: '�y�
<br /> � ,,
<br />;;;; ^�� �r ,;�` , postpone the due date of the monthly payments referred to in paragruphs 1 und 2 or change thc amount of such payments.
<br /> -: :�.�,�,`���'"�•�".'��` 11.Borrower Not Released;Forbearance By Lendcr Not a Waiver. Extension of thc time for payment or modification
<br /> � ' �t��,��.' of amortization af the sums secured by this Security Instrument granted by Lendor to any succes.cor in Interest of Borrower shall
<br /> �',.
<br /> "�+�'i�.�� {+ not o rate to releASe the liabflit of the od inal Borcower or Borrawer's successors in interest. Lender shall not be r uired to
<br /> ',,.J,r�Y�.,,���.::'. Pe Y S �
<br /> +:•�`�.�.'�� •�:�:��?:; commence raceedin s a ainst an successar in interest ar refuse ta extend time for u ment or otlx�nvise modif amortization
<br /> r.�. . �„C .y P 8 B Y• P Y Y
<br /> '�#�'�y�l�.,;:;� of the sums securcd by this Security Instrument by rcasan of any domand made by the original Borrower or Borrower's
<br />_ ''r�;,'"1;1'�r
<br />.. •�; .� '..�� .�;�;; successors in interest. Any forbcArancc by Lender in exercising any right or remedy shall not be a waiver of or preclude tho
<br /> .:,4��;t.1 • .5.r
<br /> ;�•;��„ _ exercise af any right or remedy.
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<br /> , �,�f. •. �. 12. Succe.s4ors and Assigns Bound; Joint and Several Liability; Casigners. Ttie covenants and agreements of this
<br /> �;�i�;�<'�,_:,. �=:,�r'=° Security Instrument shall bind und benefit the successors and asaigns of L.ender and BeRawer, subject to the provisions of
<br /> �}:,
<br /> �• . �' F •• paragraph 17. Borrower's wvenants and agreements shall be joint and �evernl. Any Bo�TOwrr who ca•signs this Security
<br /> ,t�:j -�,;,,;.,.;;,��� .• Instrument but does not execute the Nate: (a) is co-signing this Security Instntment only to morlguge, grant and convey that
<br /> ';��>� • 8orrower's interest in the Propeny under thc terms of this Security Instrument;(b)is not personu�ly obligated ta pay the sums
<br /> ''Y`+` L"'p�` �� �'� secured b this Securit Instrumenr, und(c)a rees thut Lender unci un uthc�•[iun-uwrr mu u �cx:tu rxicuJ,muJif forbeur or
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<br /> �;.•����,};;�,�.�y_;, moke any accommodations with regard to the tcrms of this Security Instrument or thc Note w ithuut that Borrower'c consent.
<br />- 's°•�` •, �� � 13. Lc►An Ctiarges. If the �oan secured by this Secu�iry Instrument i+subject to u law whieh sets maximum toan charges,
<br /> � "�i�:�'''�:`-k and thnt luw is finally interpreted so that the interest or ather loan charges coUected or to tx collected in cannection with the
<br /> `�• J(�k.�-�... ....�..
<br />� ,��;.}.�,�:�,.«;., loan exceod the permitt� limitx,then: (a)any such loan charge tihaU bc reduceJ by the umount neceswry to reduce the charge -
<br /> �,,;fi���hY , to the permitted limit:and (b) :�ny tiums ulre�dy coUectcxi fram Borrower which exceexled permitteci limits wil! be refunded to
<br /> �� �'�-�:�•� �• Borrower. L.ender may chaose to rnake this rcfund by ralucing the prinrip•rl nwed under th� Note or by making a direct
<br /> �i`��•. �- payment to Borrower. If a tefunci reduces prinripul, the reduction will be trented ns � purtial prepnyment without au►y
<br />` �� " '` '� '""�'; rc ment char e under the Note.
<br /> !�;.�'�. P PaY 8
<br /> • ,•.��;:�':< ��• ".�`•'�:�� 14. Notieec. Any notice to Borrower pravided for in this Security Inxtrument shall be�iven by delivering it or by mailing
<br /> ...._..,.
<br /> '�'?'�'�"'"�.° ' � ' . it by first class mail unless appiicable law requires use of an�ther methcxi. The notice�hutl ixdire,eted to the Property Address
<br /> t��' ' � r � � or any other address Borrowcr designates by notice to Lender. Any natice to Lender shail he �iven by tirst class mail ta
<br /> �`-:� :,:.- .�,,:..�.
<br /> - � � I.ender's address stuted herein or auy other address Lender de+ig�ates by notice to&irrowcr. Any notice pr�vided for in this
<br />° _� ''"���' ':;',+` Securiry Iaetrument shall be dcemcd ro have t�een given to Borrowcr or Lendcr when given uti provided in this parugraph.
<br /> �"''� ,�-'•.:`°.: 15.Governing I.Aw; Severability. This Security Inctrument shall be guverneJ by fecleral law and the law af the _
<br />" _— '"�`�:;��`_,� jurisdiction in which the Propeny is located. In the event that uny provision or cluu+c of ihis Serurity Instrument or the Note
<br /> =�-',A ''�--�'•• � conflicts with applicable law,such conflict shall not uffect other provisions of this Security I nytrument or the Note which can be -
<br /> c+. st�..lt -
<br /> .;.��u.,,., given effect without the conflicting provision. To this end the provisions of thi,Sccurity Instrument and the Note are declared
<br /> �� •, .,..�.�wa4..;r� to be severable.
<br /> ��°�-�rao•r e..•.w;,,,i :
<br /> s�t:.::,� ; 16.Borrower's Copy.Borrower shall be given one canfarmed copy of the Note und of this Security Instrument.
<br /> `� -
<br /> _ `:':�� Fam 3028 8/90
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