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<br /> . . . payments may rso longer be required.at the aptirn of Lender.�f mortgage insurance cu`'verage(in tfle a�ttnunt and fnr the pen ^
<br /> '. ` _� , that Lender cequires}pmvided lsy aa insurer approved by Lender again beasmes available and is obtained.Bormu►er shflll�ay �`s , ,
<br /> '' , ' ' the premiums required to maintain mortgnge insursn�in effett.or ta provide a lass reserv�.unril the requirement for mortgage �:���s��r_�
<br /> � insurance er►ds in accordattce with any wtitten a�reement 6etween Borro►ver and Lender or applicable law. }�},• � t ��
<br /> 9.Inspectton. Lerhder ar its agent may makt teasonabte eatries upon and inspectians af ths PmpeR).L,end�r shall give �s �,�, x�, .
<br /> • Bonow•er nodce at the time of or prior to an inspection specifying reasomable caus�for the inspection. �-��'g-�?•
<br /> • 10. Condemaatioa.The praceeds of any award or claim for damages,direct or consequential. in o�nne�ion with any �--,�;�'=`_
<br /> ,,�; , �, :`' condemnation ar athet taktng of any part of the Property.or for canveyance in lieu of cortdemnation.are hereby a�si8ned and �;tY,;�°=-��
<br /> , •. . shaf}be paid td Lender. —_- _ _---
<br /> � ` .�.... ' in the event of a total taking of the Property.the proc�e�ds shall be applled to the sums secared by this Seatriry G�sUra��ni, -__---_-
<br /> ,� ;: ; . . . m wlucb the fair
<br /> , ' whether or ant then due.with any eacess paid to Borrower. Yn tlae event af a partial tatdn8 of the Property' —
<br /> � - market value of die Property immediately before the taking is equai to or greater than the amount of the sams s�cu�ed bY this __
<br /> � • Security Instrument immediately before the.tauing,unless Borrower and Lender othernrise agree in writing,che sums secured by . P __
<br /> • � � this 5ecurity Instrument shall be reduced by the amount of the proceeds muiuplied by the following fca�tion: (a)tlie seia2
<br /> � � arnount of the sums secured immediately befare the taking.divideA by(b)the fair markex vaIue of the Fmperty immcdiately
<br /> ��, � � ,� .� , befure the taldng. Any balance shall.be paid to Borrower. In the event of a par6at taking of the Praperty.in which the fair
<br /> 4 •.' ' : ,,.. � � market value of the property immecfiately befor�e the taking is less than the amount of the sums secured iaunediately befoie the
<br /> ' �� � taking.unless Borrower�nd Lender otherarise agree in�vriting or unless applic�ble law otherwise provides,the prace�ds shall �
<br /> • • ' .. • ::,
<br /> ,'R"-::.. . . ....`.'•. . . . .be applied.to.tlle.s�secured by this Security Insunment whether or not the sums are ther►dne.
<br /> ..:
<br /> .. ...�.:: .- -,:�---•�-- -._. .._ _. ...
<br /> . If the Property is abandoned by Borrower,or i�a�tei'�noace 6y I.ende"r�fo B-oi'r�vtrertbatthe-zc+ndemttoroffersto� an- �
<br /> ' ' award or settle a ctaim for damages, Barrower fails to respond to Lender wit6in 30 days after the date tf�e nntice is given,
<br /> ." Lender is authorized to collect and apply the pm�eds.at iu opuon,either to restotation or repair of the Fra�zrty or to the sums
<br /> secured by this Secvrity Instcument.whether or not 4hen dae. '
<br /> ' • ,--- - Uisless I:ertder and Borrower otheravese agree in writing, any application of proceeds to principal shall a�t e�emd or �
<br /> ' , postpone the due date of the montlily payments referced to in paragraphs 1 and'or change the amount of such paymeats.
<br /> �--
<br /> . ., , 11.Borrower Not Released;For6earance By l.ender Nai a Waiver.Excension of the time for payment or madificatioa
<br /> ��} of amortization of the st�ms secured by this Security�'�stnunent granted by Lender to any successor in intet�of Botmaer shali
<br /> � �� - -� not operate to retease the tiability of the original Borr�wer or Borrower's successots in interest.i.ender sh4[L IIot be reqnired W
<br /> ' � ' • commence proceedings against any suecessor in interest or�fuse to extend time for payment or othenvise Fnodify amort¢ation __
<br /> � of the sums secured by this Securiry Instrument by reasan of any dCmand made by the original Borrower or Borrower's -
<br /> � �. successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude thc ;�:'
<br /> � �,. exercise of any right or remedy. y'_
<br /> � •� ,� ''� � 1Z. Succ�soss aad Assigns Bomnd;Joint�nd Several LiabHity;Co-siguers.The covenants and agreemeats of this r
<br /> .�`.,
<br />" � • • • Securiry Ynstrument shall bind and benefit the successors and assigns of Lender and Bosower, subject to the provisions of «��
<br /> � � �: � paragraph 17. 8orrower's covenants and agreements shall 6e joint and several. Any Borrower who co-signs this Security • _
<br /> �`•' � Instrument but does not execute the Note: (n) is ccrsigning this Security Insuument only to mortgage. grant and mnvey that `:
<br />- � , • : : Borrower s interest in the Property under the terms of this Sec�riry Instrument; (b)is not personally oblig�ted to pay the sums _ ., ,
<br /> N • secured by this Security Insfrument;and(c)agrces t�,.:t Lender and any other Borrower may agree to extend.modify,forbear or -�_
<br /> make any iccamn►odations with regard to the terms of this Security Iast[ument or the Note without that Borrower s consent. ��_�=�
<br /> -• ' � 13,Loan Charges.If the loan secured by this Securiry Ins2rtiment is subject ro a law��f�.ieh sets maxiinum toan ch.arges. �-_
<br /> •� �• � � and that law is finally interpreted so that the interest or other loan charges wllected or to'L*e collected in conneetion with the �•_—
<br /> � ° ' loan exceed the permitted limits,then: (a)any such Ioan chazge shall be reduced by the ancount necessa..*y c�reduce the eharge _�,�,�
<br /> • • � . ' ` to the permitted limit:a.��(b)any sums already callected from Bonower which excceded permitted lia�wi11 be refunded to _�
<br /> � ' • �Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct �:°^�•
<br /> payment to Borrower. If a refund reduces rinci al, the reduction will be treated as a partial prepayment without any ,�i,,�. ' "�'=�:-�.
<br /> � � :-..'•... „ . P P
<br /> • ' • . prepayn�er.+t charge under the Note. � �.'� ,���-
<br /> - �,.
<br /> ��•� . ' .' ' • 14.�iotixes.Any r.otice to Borrower provide�for in this Security Instrurrtent shall be given by delivering it or by mailing � ��.: r
<br /> `' '• � it by fiPSt class mail ur.:ess applicable law requir�s�a5e of another method.Th.�notice shall be directe8 to the Property Address ��" ..
<br />:�:T �. �' . or any other address Bonower designates by notice to Lender. Any notice to Lender shall be given Ezy first�class mail to � , -
<br /> . .... .
<br /> -:.t
<br /> Lender's address stated herein or a�sy other address Lender designates by notice to Boaower.Any notice provided for in this . , . ,
<br /> �� '� � ' ' � Securiry Instrument shall be deemcd ta have been given to Borrower or L.ender when given as provided in this paragraph. .
<br /> ` 1$.Governing Law; Severabiiiry. This Se�curity Instrument shali be governed by federal lae: and the law of the �. .
<br /> �� • � •' '_ � jurisdiction in which tF:e Property is located. in tt:w event that any provision or clause of this Security ir:�rument or the Note ,�. . ,.
<br /> ' wnflicts with applicable taw,such conflict shall r.c7 affect other provisions of this Security lnstrument or�Y:e Note which can be � ` -
<br /> ' � ' ' given effect without the conflictin�provision.To this end the provisions of this Security instrument and the Note are deciared .
<br /> ' ;' to be severable. .. � ,
<br /> ` ' . � � �, , 16.Borrower's Copy.Borrower shall be given one conformed copy of the Note and of this Security Instrumene. •
<br /> ��Y � . Fo►m aoze 9/90 .
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