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r, g~,. ~1~59 payments may no longer be required, at the option of Lender. if mortgage insurance coverage (in the amount and for the period that Lender requires) provided by an insurer approved by Lender again becort>r• available and is obtained. Borrower shall pay the premirart>_-, required to maintain mortgage insurance in effect, or to provide a loss reserve. until the requirement for tnnttgage insurance ends in accordance with any written agreement between Borrower and Lender or applicable law. 9. Inspection. Lender or its agent may make reasoriable entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying r astttable cause for the inspection. 10. Condr;nnation. The proceeds of any award or claim for damages, direct or consequential. in connection with any condemnation or other taking of any put of the Pnllxrty, or for conve)•ance in lieu of condemnation. are hereby assigned and shall he paid to Lender. In the event of a total taking of the Property. the proceeds shall be aMlied to the sumo reczured by this Security Instrument, whether or not then due, with any excess paid to Borrower, in the event of a partial biking 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 In.strtunicni immediately before the taking. unlras borrower And Leader otherwi.se egret in writing, the sums secured by this Ser•urity Instrument shall lie rrduccd by the amount of the proceeds multiplied by the following fraction: (a) the local amount of the sums secured immediately before the taking. divided by (b) this fair market value of the Property imuradiately before the taking, Any balance shall 1+~ ~N to Sorrower. ir, the event of a partial taking of the Property in which the fair market value of the Property immediatcly l--forr the tasking is lets than the amount of the surrts secured immediately before the taking. unless Borm%vcr and Lender otherwise agree in Yvriting or unless applicable law txherrvise provides, the proceeds shat) be applied to the swans secured by this Security Iratumcrtt whether or not the sums are then due. If the Property is abandoned. by Borro,~mr, or if. after notice by :ender to Borrower that the condemnor offers to make an award or settle a claim fur damages. Bcirrn,xtr fails to respond to Lender within 30 days after the date the notice is given, :.ender 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 ap lication of proceeds to principal shall not extend or postpone the duc date of the monthly payments referred to in paragraph-, I and 2 or change the amount of such payments. 11. Borrower Not Released; Forbearance By Linder Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by ibis Sxrity insint.: mi granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Under shall not be required to commence prcxx- odings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security iwarument by natson of any t1cma>d made by the original Borrower or Borrower's successors in interest. Any fo bearance by Under in exercising any right or remedy shall not be a waiver of or preclude the exercise of arw tight or remedy. 12. Successors and As-,igns Bound; Joint and Several Liability; Cis. The covenants and agrer^icnts of this ",security instrument shall bind and benefit the successor and assigns of Lender and Borrower. subject to the provisions of parugmph 17. Borrower's covenants and agmmnents shall be joint and several. Any Borrower who co-signs this Security instrument but loss m it execute the Note: (a) is co signing this Security instrument only to mortgage. grant and convey that Borrower's interest in the P-npcrty under the terms of this Security Instrument: (b) is not personally obligated to pay the sum: secured by this Security Instrument: and (c) agrees that Leader and any other Borrower may agree to extend, modify, forbear or niake any accomrmidations with regard to the term-, of this Security Instrument or the Note without that Borrower's consent. 13. Loan Charges, if the lean securtl by this Security intstnan-- ,t is subiect to a law which sets maximum loan charges, and that law is finally interpr tcxi so that the interest or ether loan charges collected or to be collected in connection with 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 alrcady collected from 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 reducers principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Notc, 13. Natit.. Any notice to Borrower provided for in this Security irrarument shall he given by delivering it or by mailing it by first class mail unless applicable law requires use of another rmthod. The notice sbail be directed to the Property Add-,,,s or any othez address Borrower desigr.--t4: by ranee to Lender. Any notice to Let-de. shall be given by first class retail to Lender's address stated herein or any ot`cr 26dress Lender designamss by notice to Borrower. Any notice provided for in this Security Incinimment shall be deemed to have been giver to Borrower or Lender when given as provided in this paragraph. 15. Goiern:ng l.aw; SeverabMI.. This Security Instrument Ch-!! be governed by federal law and the law of -,die jurisdiction in which the Property is located, in the event that any provision or clause of this Security instrument or the Note contlicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be -iyen Oft-et 4hout t: tie conflicting provision. To this end the provisions of this Security Instrument and the. Note are declared to be scverchle. 16. Forrnmrer's Copy. Borrower shall be given one conformed copy ,f the Note and of this Security instrunient Form 3028 9/90 F'iir c c' E