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<br /> „ ,,, . . payments may no longer be required,ut the aption of I.ender.if martgagc insurxncc coveragc(In the amount and for the perlod , ..__ _
<br /> _ .._,.�� _ that Lender requires)provlded by an insurer approved by I.ender again becomes Availeble and is obtalned. Honower shall pay , �
<br /> � �'� the premtums require�to maintain mortga�e inaurance in effect,or to provide a loss reserve,until the requirement for mort�a�e , �
<br /> 4.
<br /> _ insurance ends in acco�dance wlth any written agreement betwecn Borcower and Lendcr or appl icuble law. '•
<br /> ' 9.Inspt�tian. Ixnder or iG5 agent may make reasonablc entries upon and inspections of the Praperty. Lender shali sive �� ' ' "
<br /> � Bonower notice at the time of or prior to un lnspection specifying reasonable cause for the inspecdon. '•`���_`
<br /> ' '� 10. Condemna4ion. The proceeds of any award or claim for damages, direct or consequential, in connection with uny • . � �� --
<br /> � condemnation or other wking of any part of the Property,or for conveyance in lieu of condemnation,are hereby assignecl and ° ° ��� ' �'
<br /> _ .� � shall be paid to I.ender. � • .
<br /> o ln the event of a total taking of the Property,the proceeds shait be app��ed to the sums secureci by this Security Instrument, �_-,-`_-- -- . -
<br /> whether or not then due, with any ezcess paid to Bonower. In the event of a partial taking of the Property in which the fair • �
<br /> market value of the Property imniediately before the taking is equal to or greater than the amount of the surns secured by this �� � • •� - �.
<br /> Security Instrurnent immediately before the taking,unless Borrower and Lender otherwise agree in writing,the sums secured by �' , - _
<br /> this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction:(a)the total � -
<br /> � emount of the sums secured immediately before the taking, divided by(b) the fair rnarket value of the Property immediately "-
<br /> before the taking. Any balance shall be paid to Bonower. In the event of a partial mking af the Property in which thc fair • ,
<br /> ,�<<�, market value of the Property immediately before the taking is Icss than the amount of thc sums secured immediately before the
<br /> �:•�;:,.:;. .
<br /> �`;;:��y.. taking.unless Borrower and Lender otherwise agree in writing or unless applicable law othenvise provides, the proceeds shaU . __
<br /> :. �'�+��,•�;;::•'� .:. , be applied to the sums secured by this Security Instrument whether or not the sums are then due. �
<br /> ,,�r,�r� „c�':: ; ..�...
<br /> ?� _ � If the Property is abandoned by Bonower, or if,after notice by I.ender to Borrower that the mndemnor offers ta make an :;�:.��•::__
<br /> •• awtud or settle a daim for damages, Bonower fails to respond to Lendcr within 30 days after the date the notice is given, ' " ���;::i±�•
<br /> ' Lender is authorized to collect and apply the proceecis,at its option,either to restoration ar repair of thc Property or to the sums .
<br /> -{,;;:'�� �� secured by this Security Instrument,whether or not then due. . n �
<br /> `''%'�� �� Unless Lender and Bonower otherwise ugree in writing, any applicatian of prnceeds to principal shall not extend or , �
<br /> "' , :; , postpone the due date of the monthJy payments referred to in paragraphs 1 and 2 or change the amount of such payments. " ,;�:;�t:; �,
<br /> :.•,.;r -
<br /> •• ;;�� 11.Borrower Aiot Released;Forbearunce By Lender Not a Waiver.Extension of the time for payment«modification �� ";.,��,a, :�-
<br /> ,t. af amortization of the sums secured by this Security lnstrument granted by L.ender to any successor in interest of Borrower shall .s� • � °
<br /> � ���``�� •• " not operate to release the liability of the original Borrower ar Bormwer's successors in interest. I.ender shall not be required to t�+„t�'<<� ° ��, ;,;'��.�
<br /> .,;,.�, .. , e
<br /> . � commence procee�iings against any successor in interest or refuse to extend time for payment or otherwise modify arnorti7ation • '• �
<br /> �--
<br /> , , c,,,.= -
<br /> of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's ;j,,,s -
<br /> �'`i successors in interest. An forbearance b Lender in exercisin an ri ht or mrned shall not be a waiver of or �eclude the `�`'•'"h�`� �
<br /> Y Y g Y g Y P _ :e.!,;�.
<br /> , . ,°j excrc�se ot any nght or remedy. r.;�ar�i -`
<br /> :. ' ,� 12. Succ�ssors and Assigns Bound; Joint and Several Liability: Co-signers.The covenunts And agreemenis of this �, : ' � � "; _
<br /> Security Instrument shall bind and benefit the successors and assigns of I.ender and Borrower, subject to the provisions of '•+� • r: '
<br /> . u para gra ph 17. Borrower's covenants and a greements shull be joint and severul. An y Horrow e r w h o c o-si g ns t h is S e c u ri ty � � ° -
<br /> -!f: ".i� .y"
<br /> . .�::� Instrument but does not execute the Note: (a) is co-signing this Security Inst�ument only to mongage, grant and canvey that � �
<br /> � Borrower's interest in the Property under the terms c�f this Security Instrument;(h)is not personally obligated to pay the sums �a.�„ .
<br /> � � secured by this Securiry Instrument;and(c)agree+that Lender and any other Borro�ver may agree to extend, nx�di(y, forhear or ��;
<br /> . make any accornmodations with regard to the terms of thiti Security instrument or the Note without that Borrower'sconsent. � .
<br /> 13.Loan Charges. If the loan secured by this Security Instrument i� ,ubject to a law which sets muximurn loan charges, '
<br /> ' • �I and that law is finatly interpreted so that the interest or��ther luan charge.collected or to he collected in connection with the
<br /> , loan exceed the permitted limits, then: (u)any such loan charge shall be reduced by the amount n�cessary to reciuce the charge •�?�•;��:=
<br /> ' to the permittec!limit;and(b)any sums already colleeted from Borcower which exceeded permitted limits will be refundeci to � o�:-s�}�:
<br /> . T' /'�� j'.
<br /> Borrower. Lender may choose to make this refund by reduring the principal o�cu! under the Note or by making a direct �.�;'-� j'-`
<br /> � a m e n t t o $�r r o w e r. I f a r e f u n d r e d u c e s n n c i a l, t hc r u l u c t i o n w i l l b e tr e a t c d us a a nia l re a rnen t wi t hou t 3 n �' � �;'
<br /> P Y P � P P' P P'Y Y ,:.. .,
<br /> _� prepaym�nt chFUge under the Note. ' '.'�e; !!�
<br /> ug
<br /> 14.Notfces.An notice to Borcower ruvideJ for in thir Srrurit Instrument shall bc iven hy delivcrin itor b mailin - ��•4f'.L .,_'
<br /> Y P Y S F Y R .�.;,..;..5
<br /> it by fint class mai(unless applicable law requires utic of unother mcthod. The noticc sh:�ll bc directeJ to thc Prnperty Addresti j „:'_
<br /> ' or any other address Borrower de�ignates by notice to Ixnder. Any noticr to Lrnder tihall be gi��en by first dasti muil to i ,' F-
<br /> _:,��`
<br /> � Lender'ti address stated herein or any other address Lender dcsignate. by notice to Borruw•cr. Any notice provickd for in thiti � •
<br /> �',�� Security Instrument shall be deemed to have hcen given tu Borrowcr or[xnder uhrn�i��cn u.pr�wideJ in thi�paragraph. � . �•`;_
<br /> �` .,,-
<br /> . " ' •• �}:� IS.Governing Law; Severabiljty. 'ftnx Security Instrununt �hall he govern�d by frderal laa� and thc law of the , i"'
<br /> � �•'; jurisdiction in which the Property is loeated. In thc rvent that any provi.ion ��r clau�e of [hiti Securit� In,trumem e�r thr Notc ;
<br /> ��
<br /> conflicts with applicable law, such contlict shall not affcct othcr provision.ut'this Scrurity imtrumcnt nr thc Notc which can hc � ��
<br /> ,Y �.
<br /> given effect without ihe conflicting provision. Ta t}ii.end thr pro�•isiom of thi, Serurity Imtrunxnt and th� Neite ure dcclareei _
<br /> � to be severable. -
<br /> �' 16.Borrmwer's Cop�•.Borrow�er sh;.11 bc giecn une ron}ittmed r��py of the Nutc and<�(ihi>Scrurity tnstrunicnt. , :, ,
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<br /> ' '� ° Form 3028 9/90 ' �'
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