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93 ' :t:U4o paymentF may no longer be requind, at the option of Gender, if mortgage insurance coverage (in the amount and for the period that Lencler requires) provided by an insurer approved by Lender again becomes available and is obtained. Burrower shall pay the premiums required to maintain 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 applicable law. 9. Inspection. Lender or its, agent may make reasonable entries upon and inspections of the Property, (ender shall give Borrower .notice at the time of or prior tv an inspection specifying reasonable cause for the inspection. 10., Condemnation. The proceeds of any award or claim for damages, dinar or co condemriatian or other taking of any part of the P nsequential. in connection with any shall L.- paid to Lender. roFertY. or for conveyance in lieu of condemnation, are hereby assigned and In the event of a total taking 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 secured 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; (t!) the total amount of the surfs secured i-mmediately 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 the fair market value of the Property immediately before the taking is less than the amount of the sums secureProperty in d immediately cbe ore the Liking, unless Borrower and Lender otherwise agree in writing or ur ess applicable law otherwise provides, the proceeds shall 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 notice by Gender to Borrower thar the condexinor offers to make an award or settle a claim for da•nages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Gender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums i securet'I by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of p pal sh_ postpone the due date of the monthly payment,. referred to in Fps to rind ~tl not extend or 11. Borrower Not Released; Forbearance $ paragraphs 1 and 2 or change the amount of such payments. of amortization of the sums secured by this Security Instrument granted by LenderExtension iry succor in for interest off Borrowter ssthall not operate to release the liability of the original Borrower or Borrorscr'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 modify amortization of the sums secured by this Security instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 12. Successors and Assigns Bound: Joint and Several Liabiiity; Co-signers. The covenants and agreements of s Security Instrument shrill bind and benefit the successors and wsigns of Lender and Borrower, subject to the provisionshof paragraph 17. Borrower's covenants and aireements shall be.ioint and 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 that Borrower's interest in the Property under the germs of this Searity Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) ag. xs that Lender atkl any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terns 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 and that law is finally interpreted so that the interest or othr;r loan charges collected or to be colleaedincimu onr ectiion charges, 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 alretdy co,lected'.iom Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct 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 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 other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to L.ende 's address stated herein or anv other address Lender designates by notice to &rrower. 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. Governing Law: Secerability. 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 not affect other provisions cf this Security Instrument or the Note whico can be given effect without the conflicting provision. Tc, this end the provision.- of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be fiver, one conformed copy of the Note and of this Security Instrument. r.pe s or a Form 3028 9/90 f