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...,'t.'/'" . . . IQ3~ l.t08S,,~ . payments may no longer be required, at the optIon of Lender, If mortgage Insurance cove;\fge (Ill the amount and fur the penod that Lender requires) provided by an insurer approved by Lender 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 req'lirement for mortgage insurance ends in accordance with any written agreement between Borrower and Lender or applicable law. 9, Inspection. Lender or its agent may make r~nable entries upon and in.<;pections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 10. Condemnation. The ....oceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taki.~g of any part of the Property. or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In the event of a total ~;;k;ng 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 Property in which the fair market value of the Property immediately before the taking is equal to or greater than the amount of the sums sa:Ul'ed by this Security Instrument immediately before the taking. unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount 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 taking. unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides, the proceeds shall be applied to the Sl.lm~ 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 Lender to Borrower that the condemnor offers to make t'.n 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 of the Property or to the sums secured by this Security Instrument. whether or not then dUe. Unless Lender and Borrower otherwise agree in writing. any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs I Jnd 2 or change the amount of such paymrrlls. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or mocJification of amortization of the sums secured by this Security Instrument granted by Lender .to any SUCCCSSN in interest of BOI, ,)wer shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise rnocJify amorti7.atiol1 of the sums secured by this Security Instrument by reason of any demand m:ll.le by the (~riginal Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be u waiver of or predude the exercise of any right or remedy. 12. Successors nnd Assigns Bound; .'oint and Several Liability; Co-si~ners. The coveni'nts and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower. subject to the provisions of paragraph 17. Borrower's covenants and agreement:: shall be joint and several. Any Borrower who co-signs this Security Instmrncnt but does not execute the Note: (a) 1;; co-:.,igning this Security Instrument only ro mortgag.,. grant and convey that Borrower"s interest in thl.' Property under the tt-rms of this Security instrument; (h) is not personally ohligated to pay the SIlIllS secured by this Security Instrument: and (c) agr~es that Lender and any other Borrower may ugree 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 secured by this Security Instrument is subject to a law which sets maximum loan charges. and that law is finally interpreted so that the interest or other loan charges collected or to be collected in conne(,.'tion wilh 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 be refunded to Borrower. Lender lIlay dlOose to make this refund by reducing the principal owed under the Note or hy Ilulkillg a direct p:lyment to Borrower. If a refund reduces principal. the reduction will be treated as a partial prepayment without ary prepayment charge LInder the Note. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any orher address Borrower designates by notice to Lender. Any notice to Lender shall he given by first class mail to Lender's address stated herein or any other address Lender designat'=s by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. (;o\"Crr!ing Law; Severability. This Security Instrument sh:;1I be governed by fedetlll 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 cOIl!licts with applicable law. s:lch conflict shall not affect other provisions of this Security Instrument or the Note which can he given effect without the conflicring provision. To this end the provisions of this Security Instrument and the Note nre declared to be \cyerahle. 16, Borrower's COP~', Borrower shall be given one conformed copy of the Note "rId of this Security Instrument. Form 3028 9/90 Pogo 4 0' e