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<br /> � � paynients may no longcr bc rcquircd, at thc option of Lender, if mortg,��;c inhua•ance c��v�+r�e�inihe:+mouns nnd fiir the period �_
<br /> � . , that Lender reyuires)provided by an insumr approved by Lendcr ngain becomcs nvailablc and is obtained. Borrower shall p�y
<br /> - the premiums required to maintnin mortga;e insurance in eCfect,or to provide u loss reserve,until the requirement for mortgnge
<br /> � � � insurance ends in accord:uice with imy written ngreement behvicen Rorrower and l.ender or applicable law.
<br /> 9. Inspcctiun. Lender or its agent rnay malce reasonablc entries upon and inspcctions of thc Praperty. Lendcr shull givc
<br /> " Bormwer noticc at the time of or priar to an insPcctian specifying rea��onablc c�use for the inspection.
<br /> • 10. Condemnution. The proceeds of any award or claim for dnmages, direct or consequentinl, in connecEion with any �_-_.
<br /> " condemnation or other taking of�►ny part of thc Property, or for convcyance in licu of condemnation, are hcrcby nssigned anA
<br /> shall be paid to I..ender.
<br /> In the event of a total taking of the Propeny, the proceeds shall be appliul to the sums secureci by this Securicy Instrument,
<br /> • whether or not then due, with any cxcess paid to Bo�rower. In the evcnt of a partial taking of the Property in which the fair
<br /> •,. • market value of the Propeny immediatcly bcfore the taking is cqual to or greater than the umaunt of the sums secured by tri9s
<br /> , �t��. Security Instrumcnt immediately before the taking, unless Borrower and Lcnder otherwise agrce in writing,the sums secured by
<br /> ° this Securiry Instrument shalt be reduced hy the antount of the proceeds multiplied by the following fraction: (u) the total '
<br /> ' amount of the sums secured immediatcly beforc the taking, divided by (b) the fair market value af the Property immediately
<br /> before the taking. Any balancc shall be paid tn Borrower. In the evcnt of a partial taking of the Property in which ttta fair
<br /> . market value of the Property immcuiutely bcfore the taking is less than the a�nount of the sums secured immediately before the
<br /> �. taking,unless Borrower and Lender ntherwise agree in writing or unless npplicable law otherwise pravides, the proceeds shall
<br /> • ,. be applied to the sums sec«red by this Security Inst rument whether or not the sums are then due.
<br /> If che Property is abandoned by Borrower,nr if, after natice by Lender to Borrower that the condemnor offers to make an
<br /> ' �• � award or scttic a cluim for damages, Borrowcr fails to respond to Lender within 30 days after the date thc notice is given,
<br /> Lender is authorized to collect and apply the proceeds, at its nption,either to restoratiun ar repair of the Property or to the sums
<br /> secured by this Security Instrument,whether or not then due.
<br /> , � Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall rtot extend or
<br /> - -- po�tpone ene due aace oi tnc munthiy pay�neni,rcicrrc�I iu iu paiugrapL� l auu 2 ur ci�auge ii�c amuuui ni�ucL puy�unii�.
<br /> .' • 11. Borro�ser Not Released;Forbearance I3y I.ender Not u Waiver.Extension of the time for payrrient or modiftcatio�
<br /> of umonization af the sums secureci by this Security Instrument granted b;� C.ender to any successor in interest of Borrower shall
<br /> not operate to release the liability of the original Borrower or Bonower's successors in interest. i.ender shull not be required to
<br /> " commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization
<br /> of the sums secured by this Security 6astrument by rcason of any demand madc by the original Borrower or So�ro�ver's
<br /> successors in interest. Any forbearance by Lcndcr in cxcrcising any right or rcmcdy shaU not be a waiver of or precludc the
<br /> excrcise of any right or remedy.
<br /> „ 12. Successors nnd Assi�n5 13ound;Joint und �evernl 1C.Inbtlity; Co-signers. The covenants and agreements of this --
<br /> Security Instrument shall bind and benefit the successors and assigns of Lcnder and Borrower, subject to the provisions of -�
<br /> paragraph l7. Borrower's covcnants and agreements shsll be joint and several. Any Borrower who co-signs this Security �_
<br /> �� ' [nstrument but daes not execute the Note: (u) is co-signing this Security Instrument only to mortgage, grant and convey that �`"�
<br /> � ` Borrower's intcrest in the Property under the terms of this Security lnstrument; (b)is not personally obligated to pay the sums ���`
<br /> , , secured by this Security Insu•utnent:and(c)a�;rces that Lendcr and any other Borrowcr may agree to cxtend, modify,forbear or ��
<br /> :�:
<br /> . muke any acec�mmodations with regard io the tenns of[his Security Instrument or the Note without d�at Borrower's consent.
<br /> 13. Y,oan Charges. If the luan secured by this Securiry Instrument is subject to a law which sets masimum loan chnrges,
<br /> and that law is finally interpreted so that thc interest or other loan charges co;lected or to be collected in connection with the
<br /> _ loan exceed the permitted limits, then: (a) any wch luan charge shall be rcducul by the amount necessary to reduce the charge
<br /> - , „ to the permitted limit; and(b)any sums already rollected from Borrower ti•hich exceeded permitted limits will be refundecl to
<br /> -- , �� Borrower. Lender may choose to make this refund by rcducing the principal owed under the Note or by making a direct
<br /> paymcnt to Bonower. If a refund reduces principal, the redurtion will be treated :�.ti a partial prepayment without any
<br /> prcpayment chargc undcr the Nutc.
<br /> . 14. Notfc�s.Any notice to Bormw•cr providcd fur in this Sccuriry� Instrumcnt shall h�given by dclivcring it or by mailing I „
<br /> •• it by tirst class mail unless applic�blr law reyuires use c�f:�nother method. The notice shall be dirrcted to dte Property Address
<br /> or any other address Borrowcr designates by notiee to L.cndcr. Any notice to Lender shall he givcn by first class mail to
<br /> t Lender's address stated herein or any othcr addrcss Lcndcr dcsignatcs by notice to Bottower. Any notice provided for in this
<br /> ' Security Instrununt shaU be dccmcd ro havc been fiiven to Boirower or I...ender when givcn�s providcd in this paragraph.
<br /> 15. f;merning I.aw; Severabilit}•. This Security lnstrumcr.t shall b;, grncrncd hy fuleral la�v and thc law i�f thc
<br /> jurisdiction in which the Property is located. In the event that any provisiun i�r rlausr of this Scrurity Instrument ur the Note
<br /> , - cimflicts with applicablc law,wch conflict shull not affect uthcr pro�isic�ns c�f this Sccuriry Intitrununt or thc Notc which can bc
<br /> ,. given effect without thc ccmtlicting provision. Tu this enJ the provisiuns of'this Security Instrument :�nd thc Niue am declarcd
<br /> to bc scr�rablc. i
<br /> •• 16. Iiorm�r•er's Copy. Borrower shal l he given one contbrmed copy of thc Nenc and ��f thi,Scrurit}-In�trumcnt. �
<br /> -s------ _ ----= Form3026 9/90 �--
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