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94.. i.0"9' payments may no longer be requited, at the option of L :rider, if mortgag•. insurance coverage (in the amount and for the period that Lender requires) provided by an insurer approved by Lender again becomes available and is abtained. Borrower shall prey the prcmierrn required to maintain mortgage insurma in effect. cir to provide a loss reserve, until the requirement for rnotg;,,ge Insurance ems in accrlrdarr^.e with any written agreement between Borrower and Lender or applicabic law. 9. lnsnection. Lender or its agent may make reasonable entries up-)n and inspections of the Property. Linder shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 10, Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation; ate hereby assigned and shall be paid to Gender. In the event of a total taking of the Property, the proceeds shall be rpplied to the sums secured by this Security Imitrument. 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 great^r than the amount of the sums secured by this Szcurir/ instrument immediately before the taking, unless Borrower and Lender otherwise ague in writing, the sums secured by this Security Instrument shall he 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 b,-'.'orc the taking. Any balLace shall be paid to Borrower. In the event of a partiai taking of the Property in which the fair market va;z- of tite Property immediately before the taking is less than the amount of the sums secured immediately before the taking. unless Runow6r c^~ Lender other-vise sate in writing or unless applicable law otherwise provides, the proceeds shall he applied to the sums scoured by O'ds Security Instrument whether or not the sums are then due. If the Property is abandoned "y Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given. I,crtder 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 rust then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or pcntponc the duc (late of th,: monthly payments referred to in paragraphs I and 2 or change the amount of such payrrwriv. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortisation of the sums secured by this Security Instrument 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. Lender shall nor be required to commence proceedings against any Ft:ccessor in interest or refuse to extend time for payment or otherwise modify armrrtizalion 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 shalt not be a waiver of or preclude the exerciat of any right or remedy. 12. Successors and A..ssfgr4 Bound; Joint and Several Liability; C". fgtwrs. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provision.-, of paragraph 17. Borrower's Le w its and agreements shall be joint and several. Any Borrower who co-signs this Security instrument but :foes n:)t cxrc the Note: (a) is co-signing this Security instrument only to mortgage, grant and convey that Borrower's interest in the Pr(, ty .ender the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security instrument: and (c) agree-s that Lender and any other Borrower may agree to cxterxl, modify. forbear or make any accommodations with regard to the terms of this Security lnstruwnt or the Note without that Borrower's consent. 13. Loan Charger. 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 intent or other loam charges collected or to be collected in connection with the loan excecxi the permitted limits, then: (a) any such loan charge shall he reduced by the amount rictvssnry to reduce the charge to the permitted limit: and (b) any -.urns already collected !rpm Borrower which exceeded permitted limits will he refunded to Borrower. Ixrn:er may ncx)ose to make this refund by reducing the principal owed under the Note or by making a direct payment to Wwrrowcr. If a refund reduces principal, the reduction will be treated a partial ,,repayment without any prepayment charge under the Note. 14, Notices. Any notice to Borrower provided for in this Security Instrument shall be given by detiverivrg it or by (nailing it by first class mail runless applicable law requires use of another method. The notice shall he directed to the Property Address or any other ac;tlress W.rrower designates by notice to Lender, Any notice to Lender shall be given by first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Anv uoticc provided for in this Security instrument shall be deemed to have been given to Borrower or Lender when given as provitlc•d in this paragraph. 15. Governing Law; Scverability. This Security instrument shall be governed by fede al law and the law of the jurisdiction in which the Property is liwated. !n the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall riot affect other provisions of this Security Instrunwrit or the Note which can he given effect without th.; conflic(ing provision. To this end the provisions of this Security Instrument and the Note are declared if) be sever,rblc, 16. Borrower's Cvpy. Borrower shall be, given one Conformed copy of the Note and of this Security Instrumcni. form 3018 9190 ?rqr 4 of 8