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<br /> , . ��ubstantinlly cquivalcnt nu►rtr�gc insuraiuc cavcri�gc is��ut nvuil�dilc.Rorro�vcr tihull pny to I.cndcr cach month i�sum cqu.d to .
<br /> unc-t+vcl(U�uf thc yca�•ly iuutig�i�;c intiu�-;mcc prcmiuu�hc�n�;p;iid hy Iliirr��tvcr�vhce��hc i muruncc cnvcr;igc Inpticd or ccayccf to
<br /> ' hc in�fi'cct. Lcnacr�vill ncccpt.Us:C tlit�l rClnln tbC+����rytltcniti�a u lu�� rc,crvc in licu ��f mnrtgn�;c insurimcc. l.oti, rchcrvc
<br /> paymcnts mny no fuu�;cr bc rcqui�•c�.�d tltc optiun uf l�:ndcr, il'murtg���;c iittiuruncc c��vcrn�;c(in thc nmount und for thc period �,
<br /> ''t .� that Lendcr requirc:s)providccl by an insurcr upprove.d hy l.endcr :ig+�tn bccinncs uvnilnblc uud is ubtaincd. Boi rowcr shi+ll pt�y .
<br /> s.�t• the prcmlums rcyuircd to malntnin mortgugc insun�ncc in cffcct,or to pe�widc n lns�. resc�vc. until thc rcquir�nx•nt for morigag� _
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<br /> •°.� •• • '���` insurn�ice endh In accord�mc�widti any wruten agrecment belwcen{��irrower c�nd l.ender nr np�licablc Inw. n•
<br /> . 9.Gis�acctlo��. Lcndcr or its a�cnt mny mnkc rcasonablc cntrlcs upo�� imd in�;pecticros af thc Propeny. l.��ndcr tihall �;ivc �
<br /> :,,.:•..�._;,,. Horrowcr noticc�t tltc timc of or prior to im inspccur,n tipccilying rc��yuuubl.:c�w�c fi�r�hc iutiµ4cti��:�, �
<br />�'"'�� ''��""` �' •� •� 10r Cmidem��ntta�n. Thc praccrdy of nny ::wued ur cl,dm fC�r dumugcs, dircct ar conscyucntinl, in c�nnGCtiun with imy ,.,�',�:;r:'.
<br />_,��, • .. � condcmnnti�n or othcr taking of nny purt of thd F'roperty,or for c�mvcyimac in licu of candcmnntion, Firc hercby assigncd und
<br /> 1,�;,; ., , p shall bc paid to L.cndcr. �
<br /> , i � In thc cvent af u totnl taking of thc Propcny.thc prncccds shull hc�ipplicd to thc sums sccura! by this Sccurity Instrumcnt. , , '�'�,
<br /> whethcr or nat then duc, with any cxcess paid to Rorrowcr. In thc cvcnt of�� p�rtial tnkin�;of thc Property in which the fuir �+� Y,
<br /> , � market vnluc of thc Property innncdintely beforc thc t�iking is equul to ar grcatcr thun thc umount of thc sumr securcd by tbis :�3��.
<br /> � Security[nstrumen[i;nmedintely befare the�aking, unless Borrawrr m�d I.ender otherwisc agrcc in writing, thc sums sccured by � '=�
<br /> this Securlty [nstnimcnt shall be rcduced by the amaunt of the procecds multiplicd by ►hc tolluwin� fraction: (a) thc totul :�,,;,;�.�'�y�'
<br /> � " " umount of the sums sccurcd immcciiately befarc chc taking, dividcd by (b) the (air market vulue of thc Praperty immcdiately ,;'� �.�,�?��_
<br /> • ��� beforc the taking. Any balance shall be paid to Dorrower. In the cvent of n partial tnking of the Property m which the fair ,.�` "-�;,;��:=
<br /> ° markct valuc of the Property immcdiately before the tuking is Iess than thc amount of the sums secured immediatcly before the ""�:�'aw=_-:-
<br /> �� taking. unless Horrower and L.ender otherwise ugree in writing ar unlcss upplicable Inw otherwise provides, the proccr,ds shull ',f��,�t;:����-��
<br /> i • � �Mti�r--_
<br />_ • • �. be upplicd to the sums sccurcd by this Security Instrument whether ar not the sums arc then duc.
<br /> �: •: � If the Property is abnndoned by Borrower,or if,after notice by L,ender to Borrower that the condemnor offers to make an �'
<br /> award or settic a daim for damages, Horrowcr ti�ils to respond [o Lender within 30 Jays ufter the date the notice is givcn, �!06:�:,:_ ---
<br /> Lender is authorized to collec[and apply the proceeds,at its option,either to restoration or repair of the Property or to the sums �_w•�-
<br /> � � � secured by this Security Instn►ment, whether or not then due. �<� ,�„v,
<br /> ' ' Unless lxnder and Borrower othcrwisc agree in writing, any applicati�n of proceeds to principal shall not cxtend or t,�,r �-°
<br /> E `•.�� ���:�:�, postpone the due date of the monthly payments referred to in para;raphs 1 and 2 or change the amuunt of such payments. _,:,;::..`�'"
<br /> i��.•;:'"s',.��.,; ll.l�arroti�•er Not Refe�sed; For�►e�arnnce By Lender Not a V4'r�iver. Extension of the time for payment or modificution °zf � f� _:
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<br /> , of amortiTation of the sums secured b this Securit Instrument ,rante��b Lender to an successor in interest of Bonower shall ,.F }'��
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<br /> i'�'%:"•� � not operatc to release the liability of the ariginal Barro�ver or Borrower's successors in mtexest.Lender shntl aot bc rcquired to �ti��.�,jpr��__..e.,�_.�,;
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<br /> • :�;•,;_ �• conunence proceedings against any successor�n interest or refuse to extend time for payrnent or ott�envise modify amorttzation _
<br /> � ;;,.�;f of the sums secured by this Security Instrument by reason of any demand made by the original Borrawer or Borrower's _
<br /> .• � �,�;;�.,,:,.,, successors in interest. Any forbearance by Lender in exetcising any right or remedy shall not be a waiver of or preclude the �..__
<br /> ,,,, • ��-; exercise of any right or remedy.
<br /> ."�� _ 12. Successors ancl Asslgns Hound;Joint and 5everal Liubl7ity; Co-signers. Thr covenan�s und agreements of this �p�plr�
<br />;'•'�} ����':�''. Security Instrument shull bind and benefit the successors and assigns oi ixnder snu Fsorrower, suuja:i iu iiic pioi�sions a� � _ �-
<br /> . • paragraph 17. Borrower's covenants and agrcements shall be joint and severeL Any Borrower who co-signs this Secuiity
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<br /> Instrument but does not execute the IJote: (a) is co-signing this Security Instrument only to mortgage, grant and convey that
<br /> Bon•ower's interest in the Propeny under thc tcrms of this Security[n�tniment;(b)is not personaily obligated to pay the sun�s _
<br /> secured by this Security Instrument;and(c)a�rces that Lender and any other Borrower may agrce to cxtend, modify,forbear or _ —
<br /> , make any acwmmodations with resard to the terms of this Security Instrument or the Note without th�it Borrower's consent.
<br /> ' Y3.Loun Chnrges. If the laan secured by this Security Instrument is subjcct ro u law �vhich sets mnximwn loan charges,
<br /> und thnt law is fnally interpreted so that the intcrest or other loan churges collec[ed or to !�e collected in cannection with the _�_.
<br /> � loan exceed thc permittcd limit�,thcn: (a)any tiuch loan churge shall be reduccJ by thc mnount necessar� to n;ducc thc churge �,
<br /> ° •� to tl�e permitted limit;:�nd(b)nny sums ulrcady collcctcd fr��m E3orrowcr whic:h cxccedcd pcnnitted linuts will bc refunded tu �
<br /> Borrower. Lender may choose to make this refund by reducing the principul c�aval under the Nate ur by m�iking a dirr:ct �=���_,�:
<br /> paymenr to Borrower. If �i refund reeluces principal, the reduc[ion �vill be trsatecl ns a partiul prepayment without uny _'�--�_����-
<br /> • , prepaymcnt churge under the Notc. ���'
<br /> . 14.Nottces. Any notice to Borrower pmvided for in this 5ecurity Instrument shall be given by delivering it or by mailing �•-�
<br /> it by first class mail unless applicablc law rcyuires use of anothcr mcthod. The noticc xhall be directec!to thc Property Address _ ,
<br /> ar any other �ddress Bonower designutes by noticc to Lcnder. Any noticc to L.ender shall be given by first clnss mail to � ---
<br />- �� , Lender's addmss stated herein or any �thcr address Lcndcr designates by noticc to Borrowcr. Any noticc providcd for in this �:�._
<br /> Security Instrument shall be deemed to have been givcn to Borrower or Lender when given as provided in this paragraph. _�=_
<br /> � � 15.Governing La�v; 5everabllety. This Security Instrument shall be govcrned by federal law and the law of the �_�_
<br />_ jurisdiction in�vhich the Property is located. In the event that any provision or clause of this Security Instrument or the Note �;�;,l,,,��,,,q,�.
<br /> conflicts with applicnble law, such cunflict shall not affect other provisions of this Security instrument or the Note which ca��be , `,���
<br /> given effect without the conflictin�provision. To this end the provisions of this Security[nstrument and the Note are declnred •';�__._,�_,
<br />- to be severable. � ��n'°""�"`'
<br />'-Y � 16.Borrower's Copy.Borrower shall be given one conformed copy of the Note and of this Security Instrument. �� �� •• r.;�•.
<br />- �- 17.Trunsfer of the Property ar a Beneficial Interest in Borro�ver. If all or any part of the Property or any interest in it � �...:-�
<br /> N " is sold or transferred(or if n beneticial interest in Borcowcr is sold or transferred and Borrower is not a nnturnl perron)�vithout ' ��:��Y�y,
<br /> �,x I.ender's prior written consent, L.endcr may, at its uption, reyuire imme diate payment in fu l l o f a l l s u ms s e c u r e d b y t h i s "'��''�`
<br /> Security Instrument. However,this option shall not br,exercised by L.c�ndcr if excrc�sc is prohibited by federal law�s of the date , `��„
<br /> : � of this Securiry[nstrument. ��
<br /> ' If Lender exercises this option,Lender shall give Bottower notire of acceleration. The notice shall prmide a period of not
<br /> Iess than 30 days from the date the notice is deliven;d or mailed within which Borrower �nust pay all sums secured by this
<br /> � Se.curity(nstrument. If Borrov�er fails to pay these sums prior to the expiration of this period. Lcnder may invoke any remedics
<br /> � permitted by this Sccurity Instrument witliout further noticc or dcmaitd on Borrowcr. '
<br /> , 18. Burrower's Right to Rclnstatc. If Borrowcr mcets ccrtain condi�iom, Borrowcr �hall huvc thc right to havc
<br /> - , �� enforcement of this Security Instrument discontinucd at any time prior to the earlier of: (u) 5 days (or such other period as
<br /> � � - • applicable law may specify for rcinstatement) before salc of the Property pursuant to any powcr uf salc rontained in this
<br /> . ; . Securiry Instrument;or(b)cntry uf�a jud�meut enf'orcing this Securiry Instrument. Those cunditions ure thut Burrowcr.(:�)puys
<br /> . �� Lender.�11 sums which then would be due under this Securiry Instrument and the Note as if no accelcration had occurrcd: (b)
<br /> - cures any default of any other covenants or u�reements; (c) pay�xll expenses incurreci in enforcing this Security histrument.
<br /> �' t _�-�_,_-.-------- :....1...1;.,.. h�.e n.�t limit�vl M rravinahlr:tltnrltCVS' fcex:and(d) t:ikcs such artion:�s Lendcr may rcasonably rcyuirc to assurc ,;
<br /> ..-`=- �...........
<br /> _ ,_ ._..,,:.- _ __,. a, ......._. .. ._.-- --• '----... - -- -
<br />-' •= that the lien of this Securiry Instrumcnt, I.endcr's rights in thc Property and Borrowcr',ubli�ation tc� p��y thc sums,ecurcd by I
<br /> �' this Serurity Instrument shall continue unchan�ed. Upon n�instatcment by Borrower, this Srcurity Instrument and the ^
<br /> ; � ,. obligations securcd hcrcby shall rcmain fully eFfcrtive:is if no arccicration had uccurrul. Hvwcvcr, this right to rcinstatc shall �
<br /> not apply in the rase of accelcration under paragraph 17. �
<br /> � ► � 19. Sule of Note; Cht�nge of I.oan Servicer. The Note or a partial interest in thc Note Itogethcr with this Scrurity �
<br /> ' Instrument)may be sold onc or marc Bimes without prior noticc to 8orrowec A salc may result in achangc in thc cntity(known I
<br /> . �` 'E1' ns the"Lo.�n Se�wicer")t�at collects monthly payments duc under thc Note and this Scrurity lnstrument.There alsu may be�me I ,
<br /> �• ur more ch:mges of the Loun Servicer unrelated to a sale of thc Notc. If there is a changc ot'thc Lc�un Scrvicer. Einrro�ver a�ill be l
<br /> z' :f`';: " givcn written noticc of thc changc in accord:tncc with par,�graph 14 abovc:�nd applicablc law. Thc noticc will�tatc thc namc and i,
<br /> . address of the new Loan 5ervicer :�nd the addrcss to which p�ynunts should be made. The noti�e w-ill also rontain any cithcr ; ,
<br /> � � inforrnatio�rcyuind by applicablc law. � ,
<br /> 20. Elarurdous Substunces. Borcuwer shall not causc or permit thc pre�cncc, usc, disp��s�l, storaFc, ur rcicase uF any � '"�
<br /> Hazardous 5ubstances on or in thc Pmperty. Borrower shall not do, nur allow anyonc cl�c to do, anything afCecting thc i
<br /> � � Pmperty that is in violation of any Envin�nmental L.nv. Thc prcreding two sentcnccs shall not apply t�i thc presencr, u�r, ur
<br /> " storagc on thc Property of small yuantitics of Hazanlous Substanm� that arc gcncrully r��c:ognircd tu he apprupriatr tu nonnal
<br /> . � rcsidential uscs and to maintenancc uf the Property.
<br /> r,,;c s o�a Form 3028 9/90
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