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<br /> ',�g=;-�:;:>,., `;°� , payments may no Innycr bc required,nt thc aption uf l,endcr, if mortGarc mtiurnncz covcragc (in thc amount cuid Fur thc perind �-
<br /> -- "�-�'-uy^-`-%�� �hat�.rnder rc uires)prcwided b an insurcr u r��vcd I� [.cnder a�+iin bcc��m:s:ivaii�ible nnct Is obtiiincd. Durrcnvcr slaall a
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<br /> �..°.', thc prcmitm�s rcquircd�o maintnin mortga�c intiur.►nc�in cfTcct. ur to providc ii loss rescrvc.Eintil tlic rcquircmcnt for mortgngc _
<br /> =�""'��� t , "' ins�uancc cnds iu accardancc �vit�i u�i w�iucn n rcamcnt Bctwcen Borrawcr und l.tndcr or n Ilcabic Inw.
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<br /> -�:•;.•:�,.."-{ �1, Inspccilon. Lcndcr ur its agcnt may mukc rcasonablc�ntric.r• upon und inspcctions nf thc Pmpcny. Lendcr sh,dl givc
<br />- '� �'' �.� � Beirrowcr notice at the tii�e of'or prior to un inspectian specifying reasonable cc�use for tl�e inspection.
<br />?��':^`: :. ..� �'' = (0. Condemnntlnn. The pmcceds of uny.nvard or claini for damages. direct or cansequentinl, ia cunnection wi�h any
<br /> ' •r �' � caidcm�intion ar other takin�;of nny pun c�f thc Pmperty, or for convcyancc in licu uf condcmnntion, aro ttcreby i4tisigncd nnd
<br /> -'_',`. . shall bc paid to I.endcr.
<br />_•:-� ; • " [n the event of a rotal taking of thc Property, thc proceed�tih;dl bc applied ro thc surns secured by this Sccurity instrument, �- -
<br /> =��`� ' ' whethcr or not tl�en duc. �vith nny cxcess p�id to Borrowcr. In the evcnt of i►panial taking �if the Praperty in which dic fair
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<br />_��� . markct value of the Praperty immc�liutcly bef'orc the taking is equal.to or grc:ucr thun thc u�nount of the st�ms secured by this
<br />� s� , � Security Instrument immcdiutcty Ucfore thc tnking, unless Borrawcr and l.e.nder otticrwisc ngrcc i��writing, thc sums sccurcd by
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<br /> �'+ � • this Sccurity Instrumcnt shufl bc rcduccsi by thc umount of thc procccds multiplicd by thc follawing fraction: (a) dm total
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<br /> ��-��� • amount oi the sums secured immediately before the taking, divideci by (b) the Puir market value of tlie Pruperty immediately
<br /> �`���:�- . .. ; hcfnrc thc t�king. Any h,�lancc Shall hc p:iid tn Rorcrnvcr. ln thc evem of n panial taking af thc Property in which thc fair
<br />"�'' , ' markct valuc of the Property immcsiiately bcfore the taking is Iess than the amount of die sums secum.ci immcdiltely beforc che
<br /> '�' � t�lcing, unless Borrower and Lender otherwise agree in writing or unless applicable law othervise provides, the praceeds shall _
<br /> bc applicd to tltc sums sccured by this Security lastrument whcther ur nut thc swns�uc then duc.
<br /> �.f,';� , ,. If the Peopeny is abandoned by Borrowcr,or if, aRcr noticr,by Lendcc to Bunowcr that the condemnor offcrs ta makc an
<br /> . n�vard or settic a claim for damages, Borrowcr fails to respond to Lcndcr within 30 days after the datc the notice is givcn,
<br /> �'� . • Lender is authorizeci to collect and upply the praceeds, at its uptiun, either to restoration or repair of the Property or to the sums _
<br /> _ , � �. sccured by this Securiry Instrumcnt. whether or not then duc.
<br />- . F� ' Unless Lender and Bono�ver uth�erwisc agrce in writing, any application of procccds to principal shall not cxtend or
<br /> - � postponc the duc date of the rnonthly payments rcfened to in paragraphs 1 amd 2 or change the aniount of such payments. —
<br /> ° ll.liorrotiver Not Releasc�i; Forbearance By I.ender Not a�Yuivcr. F.xtension of the time for paymcnt or modiPicatiun
<br /> " of amoni�ation of the sums secured bv this Securitv(nstrument eranted bv Lender to anv successur in interest of Borrower sltull
<br /> not operate to rclu�se che liability of thc original Borro�vcr or Borrowcr's successors in intcrest. L.cndcr shall not bc rcquired to
<br /> commence procecdings aguinst any successar in interest or refuse to extend time for payment or otherwise ntcxlify umoriiuttion
<br /> of thc sums scwred by tiiis Security lnstrument by rwson of any demand made by the original Borrowcr or Burrower's
<br />_� • successors in intcrest. A�y forbcarance by Lcndcr in cxercising any ri�;ht or remedy shall noc be a waiver of or preclude thc
<br /> Y � exercisc af any right or remedy.
<br />_ • . 12. Successois and Assigns Bound; Jaint and Several Liabtlity; Co-signers. "1'hc covenunts and agrcemcnts of this ---
<br /> � �� � • � Security Instrument shall bind and benetit the successors and assigns of Lender and Horrower, sub}ect w the provisions of
<br /> � paragraph 17. Borrower's covenunts and a�reements shall be joint and severnl. Any Borrower who ��-signs this Security
<br /> - " '. � Instrument but docs not exewte the Notc: (a) is cu-signing this Security [nstrument only to mortgage, grant and wnvey thut �'�:
<br /> Borrower's interest in the Property under the tcrms of this Securiry [nstrumenC tb)is not personuUy obligatcd to pay the sums �"=---
<br /> y,,, secured by this Security Instrument;:md(c)aarees that Lender and any other Burrower may abrce to extend, nwdify,fotbcar or �.;'
<br />- • • muke any accommodations with regard to the tcrms of this Security Instrumcnt or thc N��te without that Borrowcr's consent. Q=�. -
<br /> ' 13. Loan Charges.lf the loan+ecured by this Security instrument is subject ro a la�v which sets maximum loan charges, -.
<br /> � ` and that law is fin:illy interpreted so thut the interest ar other loan charges collecteJ or tu be a�llecteel in connection with the -
<br /> ° ��,� � loan exceed the pe�mitteci lirnits,then: (a)�my such loun charee shall be reduced by the amount necestiary tu reduce the ch�3•ge ,
<br /> „ , ro die permitted limit: and (b)any sums airrady collected from 8orrower which excceded permitted limits will be refunded to -
<br /> .. Borrower. Lender may choose to malce this refund by reducing the prinripal uwed under the Note or by making u direct
<br /> payment to Borrower. If a rcfund reduccs principal, tttc reduction �vill be treated ,ia a partial prcpaymcnt without uny
<br />. --s- prcpaymcnt chargc undcr the Note.
<br />=` �� 14.Not[ces.Any notice to Borrower provided for in this Security Instrumcnt �hall bc�±iven by dclivering it ur by mailing
<br /> s�� '�� ,� it by first class mail unless upplicablc law rcquirc�usc of anuther mcthod. "Chc nutice ,hall be directed to the Property AdJress
<br /> -` . or any othcr address Bvrrowcr dcsignutcs hy noticc t�� LcnJcr. Anv noticc tu L.cndcr shall hc bivcn by first class mail to
<br /> -�" LenJer's address statcd herein or any other address Lender designates by naticc tu Borrawer. Any noticc prcividcJ fur in this
<br /> . ' Sccurity Instrument shall bc deemcd to havc been givcn tu Aurrowcr��r Lendcr when given as providcd in this parukraph.
<br /> IS.Governing Law; Severnbility. 9'his Sccurity Instrumcnt �hall be govcmcd by fcdcral law and the law of thc
<br /> ' � jurisdiction in which the Property is loc�tcd. !n thc event that any provision or cicwsr a(this Srcurity [nstrument or thc Note
<br /> contlicts with applicable la�v,such ronflict shall not affect othrr provisivns of this Srrurity Intitrument or thc Nute which ran bc
<br /> given effect without the contlictin� provision. To this end the pmvisions ot'this Security Instrument and the Nc�te arc declared I
<br /> Y to bc sevcrablc.
<br /> � 16. Borruwer's Copy. Borrower shall hc given onc conformed copy of thc Notc and ol'thiti Scrurity tnstrumrnt.
<br /> . Form 30?.S 9/90
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