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<br /> ' ,f �� A /�+�" / - / . �� - .,
<br /> p�►yntents tr�sy no longtr he req,uirett.at the aplion oP Le»der.If mo�tgagc 1n�umnoe caverage(in thQ em�wnt e�xl for thn p�,rir�d
<br /> --- lIlA2 L.CIidC7 rqufr�s)pravidcd by tu�fii�urcr np�ravcd t�y I..cnQcr again h�canics availablC mTd is ab�in�d.Bo�rotvcr a1tRl1 pay
<br /> �—" the{�re�niams requirecl to maintaln mortgage insurarxa ia�effect,ar to pruvide a loss rescrve.until the ceyuirtment far mcsrtgage '
<br /> insurance nxis in yccurdt�u►pe with any wdtten agreament 6etwan Borrower and l.ender c�r applic•sble Iaw.
<br /> !1.tmpectlat. Le�xicr or ita ageut may make rca�onablo cntrfcs upon:uxi inspoctian9 of thc Property. l.ender shall giva
<br /> Barmwer iiadre�t�he tirno ot or pdor to an inspection specifying t�psanxble cause for the insp�tion.
<br /> 10. Con&mnatlon.Th:o pmcecdw of any award ar claim for�f.�nwges.direcc pr consequenttal. in wnnecdon wtth any
<br /> � coi�demnation or other t.aking of any pan of che Property,or far conveyanae in liw of oondcmnadon,urc hercby asaignoJ ard
<br /> shall ba puld ta l.ender.
<br /> In the event af n total taking of the Property. the pr��xeds shull be app8e�to the sums secured by thts Secudty Instnunee�t,
<br /> wheth�r or nut then dus. with any exeess paid to Bormwer. Tn die event of n partiul talcing af the Property in whicb the fair
<br /> market value of thc Propecty immedIutely before the tnkfng is equai to or grcnter than tho amouat of the sums secumd by this
<br /> S�urity Instrument immcdiately before the taking.unless Borrowcr nad Lcnder otherwiso agrea in writtng.the sums serwed by
<br /> �i - -� this SocurIty Inst�uctxnt st�srll be reduced by the amount af the pmcecds multipitod by the foltowing f�uctlon: (o)the tota!
<br /> umount of ihe sums serurod immedlately 6efore the uilcing. divtded by(b)the fair market vnlue of the Property immedistely
<br /> beforc the taking. My balnnce shall be paid to Borrowcr. In the event of a purtiul takins of the Properry in which the fair
<br />= rts�rket valuc of tho Property inu�x�diately before the taking is less than the amoum of the sums secured immediately befom the
<br /> tnking.unless Bormwer and Leadr:r othenvise ngrce In wdting or uNess npplicable law otherwise provides.the praceeds shall
<br /> be upplfcd ta the sutus secwed by thia Socurity Insm�ment whether or not the swas tire then due.
<br /> _ � If the Pmperty is nb�ndnnod by Bomawes.pr ii after notic�by Lender ro Roerower that the rnndcmnor offers to muke an _
<br /> nward or r>ettie a claim for dnmag�, Borrower fails to respond to l.ender within 30 ds+ys after the date the notice is given,
<br /> I.ender is authorized to collect w�d upply the pmceeds.at its optian.either to [e5toratlon or repa3r of the Propei3y or ta the sums
<br /> Eecured by this Security Instn�ment.whether or not then due. �
<br />- Ualess L.ender and Borrower othetwise ug�ee in wrlting. nny application of p�s to prInc�pal shall noi eztend or
<br /> = postpone the due date of the monthly payments referred to in para�raphs 1 and 2 or change the umount of such payments.
<br /> � Il.Bonuwer Not ReteASed;Forb�uance By Lender Not a Waiver. Extension af the time for payn�ent or modi�icatIon
<br /> of nmort�izaHon of the sums secured by thIs Security Instcument granted by Lender to aay suocessor in Interest of Borrower shall
<br /> - not opernte to release the lfability of the or�ginal Borrower or Borcuwer's successors in interest. I.eader shalt not be mquired to
<br /> oommence proceedings aga�nst any successor in interest or r�efuse to extend time for p�yment or othenvise modify amortirtIon
<br /> of the suins secured by this Secur�ty Instnunent by reason of uny demand made by the original Bormwer or Bomnwer's
<br /> : ___�� successors in interest.Any forbearance by [.ender in exen:ising any right or remedy shall not be u waiver of or preclude the
<br /> - exevcise of any dght or eemedy. _-__.
<br /> 12. Snaecssors aad Assigas Bound;Joint ur►d Severat Liabtlity;Casig,�►ers. The covenunu nnd agc�eemencc of this
<br /> Security Insteument shall bind and beRefit the suaessocs s�nd assigns of Leader and Borrower, subjcxt to the provisions of
<br /> paragraph 17. Borrower's covenants and agrerments shall be joint und severaL Any Borrower who co-signs this SecurBry
<br />�`� �'� Instrument but dces not execute the Note: (a)is casignin€ this Secudty Insuument only to mortga�e. grant and convey that
<br /> Borrower's interest in the Propeaty under the terms of this Security Instcument:(b) is not personally obligated to pay the sums �
<br />'_ ��'��� �,=-
<br /> � secured by tlus 6ocvrity Insttument:attd(c)agrees that Lettder and any other Barrower may agtee to extend,modify. forbear or _
<br /> � ��� make any Bccommodatians with regttr�d to the terms of this^�ecurity In.ct�ument or the Note without that Borrower's consent. s=
<br /> 13.Loan C es.If the loan secured b this Secud Instrument is sub'ect to n law which sets maxfmum loan ch es, `�--
<br /> harg Y t3' l azB rr:s�-
<br /> and that law is finally interpreted so that the interest or other loan charges collected or to be collected in rnnnection whh the -_
<br />= loan exae�d the rmitted limits,then: ta>wi such loan char e shall be reduood b the amou�t nec�s to reduee the c e �' °�
<br /> Pe Y G Y �Y � r�,-.,.
<br />.= to the permitted limit;and(b)any sums uiready collected from Borrower whtch exceeded permitted limiu u•ill be refunded to �._
<br />' 8orrower. Lettder may choose to make this refund by reducing the principal owed under the Note or by making a d{rect •-;;�
<br />_ payment to Barrower. If a refund reduces principal, the reduction will be treated as u partial prepayment withaut any -
<br />- prepayment charge under the Note. -,-
<br /> 14.1Votices.My noace to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing �`
<br /> 1 ��a,} it by ftrst class mail unless applicable law requtres use of anoiher method.The notice shall be directed to the Property Address
<br /> �"`� or any other addtess Borrower designates by notice to I.ender. Any notice to Lender shall be givcn by first class mail to
<br /> _ I.ender's address stated herejn or any other address L.endcr desi�nates by notice to Borrower. Any notice provided for in this
<br /> � • �,`�, Security Instmrteent shull be decmed to huve been�iven to Borrowcr or I.ender when given as provided in this paragraph. •
<br /> � � I5.co��s„� �w: se�e�aiiuy. This Security Instrument shall be govemod by fcdcrai law and the law of the
<br /> jurisdlettun in which the Property is tocated. In the event that any provision or clause of this Securiry Instrument or the Note
<br /> conflicts with npplicabte law.such rnnflict shatl not affect other provisions of this Security Instcument or the Note which can be
<br /> , gtven eFfect without the conflicting provisian. To this end the provisions of this Sccurity Instrument and the Note am declared
<br /> �.� :��;.>' to be severable.
<br />- _ — 16.Borrower's Copy.Borrower shall be given one conformod copy uf the Note and of this Security Insvument.
<br /> Forcn 3028 9/80
<br /> Pugo 6 ot 8 ,
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