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'93~ 110~Qt: . payments may no longer be required. ilt the option of Lender, if mortgage insurance coverage (m the amou'n\~Wfor the period that Lender requires) provided by an insurer approved by Lender again becomes available and is obtained. Borrower shall pay the premiums required to maintair. 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 Lender or applieabte law. 9. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender 5"all give Borrower notice at the time of or p.-iorto an inspection specifying rea.'\Onable cause for the insp;:tion. 10. Condemnation. The proceeds of any award or claim for damages. direct or consequential. in conneclinn with any condemnation or other taking of any part of th~ Property. or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In the event of a to'11 taking of the Property. the proceeds shall be applied to the sums secured by this Security In:trument. whether or not ther. 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 secured by this Security Instrument immediately before the taking. unless Borrow~r and Lender otherwise agree in writing. the ~ums secured by this Security Instrumellt shall be reduced bv 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 immedjat~ly bc::f0re the taking is less than the amount of the sums secured imm:diately before the taking. unless Borrower and Lender otherwise agree in writhg 0" unless applicable law otherwise provides. the proceeds shall be applied to th;:: sums secured by this Security Instrument whclher or not the sums are then due. If the Property is abaildoned by Borrower. or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages. Borrower f,!ils to rcsrxlOd to ~nder within 30 days after the date the notice is given, Lender is authorized to collect and apply the proceeds. at its option. e;jther 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 and 2 or change the llmount of such payments. 11. Borrower Not Released: Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender tn any suc~essor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not he required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwi~e modify amort:7~1tion of the sum~ secur(~d by this Security Instrument hy reason of ;my demand made by the original Borrower or Borrower's s\!ccessors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the ex;:rcise of any right or remedy. 12. Successors and Assi~ns B()un~; Joint and Senral Liability; Co-signers. The covenants and agreements of this Security Instrument shall bind and hend!: the sllccessors and assigns of Lender and Borrower. suhject to the provisions of paragraph J7. Borrower's ccvenanls and agreements shall be joint alld several. Any 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 thut Borrower's interest in the Property under the terms of this Security Instrument: (b) is not personally ohligated to pay th,: sums ',ccured by this Security Insttlunent; and (c) agrees t:lUt Lender and uny other Borrower may agree to extend. modify. forhellr 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 sobject to a law which sets muximum loan charges. :!rld that law is finally interpreted so that lhe it:tere~l or other loan charges collected or III he collected in connection with Ihe loan exceed the permilled limits, lhen: (a) any such loan charge shall he reduced hy the amounl necessary tn rcJuce the charge to the perminedlimit: ;!I1r~ (~) 'JOy sums already collected from Borrower which exce-.:ded permiiied limits will he refunded to Borrower. Lender may choose to make this refund by reducing the principnl owed under the Note or hy muking a direct pnyment to Borrower. If ;1 refund reduces principal. the reduction will he trc.lted as a partial prepayment wilhout allY prepayment charge under the Note. 14. Notices. Any notice to Borrower :',ovided for in this Securily Inslrument shnll he given hy dclivering:t or by mailing it by first clas~ mail unless npplicable 1<1\\ requires use of another method. The notice shall he directed to the Property Address or Jny other address Borrower designates by notice to Lender. Any notice to Lender shall be given hy firstclas.. mail to Lender's adJres~ stnted herein or nny other address Lender designate.. hy notice to Borrower. Any notice provided for In thi.. Sl'curity Instrul1lcrH shall be deemed to have been given to Borrower or Lender when given as provided in thi.. paragraph. 15, Governing Law: Severability. This Security Instrument shall he governed by federal law and the law of Ihe jurisdictiol1 in which the Property is located. In the event that ally provision or clause of this Sccurily Instrument or the Noh: conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can he givcn effect without the conflicting provision. To this end the provisions of this Security Instrument and the Noll' are declared to be ~cverable. 16. Bor\"(lWcr's Copy. Borrower shall be given or.e conformed copy of the Note and of this Security Instrument. Form 3028 9/!JO Pogo 4 oJ 8