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<br /> ' '` ``.�'}r. ' : FaYmeats n2ay no lan�er be mquimd.at the option of L.erider,if mortgage;n�•,*A�c�cpverd�e(ia the amoant and for t�e period v =-°-_
<br /> �`` � ' that Lender requir�es)Provided by aa imsurer app�ved!ry Lender again.beaomes availa6le and is obtained$ortawer sha11 pay� . �c��'^ _---
<br /> _':- �� �` 'the premiums reqnired to maintain rnort�age 9nsuraace in effect.or to provide a loss.reserve,uniil�he t�,;mme�fo�mort$age • �L =-
<br /> ' , `�' '?�=
<br /> �: insurance ends in accordance witb any a�riuen agreement between Bontowet and Lender or applicabte IaN. , �� � _
<br /> ,` " ' � 9.Iuspec�oa.L.Qnder ar its agem may�he reasnnable enuies ugon�td inspections of the Proyerty. Le�er shall give x""`T���"-,� '=
<br /> { :,�•. 3 n ;• Boirourer notioe at the time af nt prior to an inspectibn specifying reasonable cause for the inspectioa_ •a .;� �� , `
<br /> ,�,.., � • ld. Condetnnat€on.The proceeds of anyr award or claim for dainages, direct or consequentizal,in oonnectiori with any ``�� �� -
<br /> �� • •condemnatian or other taking o�any part of the Froperty,or for conveyance in liev of candemaadoa,are hereby assjgrted and ' "°'� r
<br /> g �`�'r. -
<br /> . . �' `:. . � � shall b�e pai�'to Leader. ; • , , . :�,;;: -��r.,- - _-
<br /> �• _ , In the event of a total tatdrrg of t6e Property,t(�praceeds shal!6e applied to the sums sec�red by this Security Instniment, , y�s`'`
<br /> ' • �� wheiher or not therr due,witii any excess gaid ta Borrower. In the event of a putiai taldng of the Property in which the fair '��• �
<br /> �� � . `" r' � market vatue af the Property immediatety before the taking is equal to or greater tha�the amount of the surns sacured by dus � _
<br /> - SecauIty I�ment immediateSy before the tatcing,urdess Borrower and I.ender otherwise agree in wridng,the sua�secured by ...•�. • , , `
<br /> � . ' thi's Security iristrument shatl be reduced by the amounc of the proceeds multiplied 6y the foliowing fraction: (a) the total • � • ` . `
<br /> R.� , amount of the sums secured immediately before the taking.divided by(b)the fair market value of the Property immediately ��,
<br /> � , �before the taking. Any balance shall be paid to Borrower. In the event of a partial taldng of the ProperEy in which the fair . .
<br /> - • • 'market valae of the Property immediately before the taking is less tBan the amount of the sua�s secured immediatety before the � - -
<br /> •� ' taking,unless Borrower aad Lender otheruvise agree in writing or unless apptirable law otherwise provides,ihe proceeds shalt �, ", j5,
<br /> . � " be appli�d�o the sums secured by tbis Security Instmment whether or not the sums are then due. , • � , „.. __
<br /> _ ���i.r If the�Property is abandaned by Borrower.or if,after notice by Lender to Borrower that the condemnor offers ta make an _ '�'',^'���'=
<br /> � . award or settle a ciaim for daivages.Borrower fails to respond to Lender within 3Q days after the date the aoEice is given. � ;: ,�� � `
<br /> . . ' ' . Lender es authorized to collect and appIy the pmceeds.at its option,either ta restoradon or repair of the Property or to the sums � , '°
<br /> � . • secured by this Security�nstrum�nt, whether or not then dae. '��. • _
<br /> � � Unless Lender and Borrower othenvise ag�e in writing, any applicadon of praceeds to principai shaU aot extend or � ' ;:''�>,,5� .
<br /> � � � ` ' . postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. - � :. . �
<br /> .__. '._.''�� ..._.__..._ 1�..Borru�rer_No�Released;Fotl�ea�uc�&b�_�.ender Not a 9�sicer,Extension of the time forpayment or modiFication _ __ — ;�..
<br /> : of amortization of the sums secured by this Seeurin�Inmument granted by Lender to any successor in interest of Borrower shall� , .�,,�
<br /> . f .; I '
<br /> ' , � ' not operate to retease the liability of the original Eorrower or Borrower s successors in inte:zst I.ender shall not be required to ;:�.��" `
<br /> <, � � � wtnmertce proceedings against any s�*.s:essor in interest or refuse to extend time for payme^.t or otherwise modify amorti�a6on ��• r',-'—
<br /> . . . _. '. of sl�e sums secured by this�Security Instntment by reason of any demand made by the origicml.Borrower or Borrower's • ��
<br /> • . . . ,...
<br /> ..
<br /> ,. . - - saccessors in interest: Any fo�tsearaisce by l.ender in exercising any right or remedy shali not be a waivee af or preclude the - - ._ ' �'- '
<br /> .. � . � exercise of any right or remedy_ � .`�
<br /> � � 12.Successo�s and Assigos Bonad; doint and�evera! E�abilfty;Co-signers. The cavenants and a;ceemeats of this . �
<br /> - . - Securitt f�strument shall bind and 6enefit the successors and assigns of Lertder and Borrower, subject to the provisians of . : � 1
<br /> �,. : paragrap,l I7. Borrower's.covenanu and agreements shall be joint and severai. Any Borrower who co-signs this Security -- � - � , • �.�. ,
<br /> ... • Instrument but does not execute the Note: (a) is co-signing this Security Instrum�nt only to mortgage, grant and cunvey that � : �y
<br /> ' ' Horrowet's interest in the Properry under the terms of this Security Instrument:ib)is not personally abligated to pay the sums • r''='
<br />: � ' • ' . secured b�� this Security Instn�ment.:.�:d(c)agees that Lender and any other Borrower may agree to extend,modify,forbear or �,_�=�,1�;
<br /> . •, `,. .
<br /> . make uny accommodations with reg�rct to the terms of this Security Iastrument or the I�Iote wiu'�out that Borrower's consent. , ;�.,�
<br />- � � � , ' 13.Laan Charges.1f the loan secured by this 5ecurity Instrument is subject to a law Rhich sets maximum loan c6arges. -' , �
<br /> � � . . and that taw is finally interpreted so that the interest ar other loan charges callected or to be collected in connection with the ,. � � .'�.�.1_
<br /> � . taan exceed the pernutted limits,then: (a)any such loan charge shall be reduced by the amaunt necessary to reduce the charge 'f:��
<br /> , to the permitted limit:and(b)any sums already collected from Borrower which exceeded permitted limits will be refunded to _ _ :�,i!�
<br /> . Barrower. Cxnder may chanse to make this refund by reducing the principal owed under the Ivote or by making a direct �� :
<br /> , •';>�. .
<br /> � •• payment to Borrower. If a refund reduces principal, thc reduction will be treated as a partial prepaynient without nny ' ".. ,� • �
<br /> , • - ' prepayment charge under thc Nate. �, • � ''
<br /> � � 14.Notices.Any notice to Borrower provide�for in this Security Instrument shall be given by delivering it or by mailing � • - . .
<br /> . •�� � � it by first citiss mail unless applicab'.e law requires use of anather method.The notice shall be directeci to the Property Address . - . .; �s� = .
<br /> • or any o�h�r address Bonawer desi�*nates by notice to Lender. Any notice to Lertder sh:ll 6e given by first etass mail to " '
<br /> � Lender's addtess stated herein or�:y other address l.end�r designates by notice to Borro«er. Any not:ce provided for in this � '� r�"�" �
<br /> ' ` �., Security Instrument shall be deelncd to have been given to Borrower or Lender when given as provided in this paragraph. � :
<br /> _ . 15.Governtng 3aw; Severability. This Security lnstrument shall be govcmcd by federal law and the latv of the , . •
<br /> =- ' jurisdiceion in which t�e Property is located. [n the event that any provision or elause of this Security lnstrument or the Note :r.�� . �:
<br /> � conflicts with applicaE!e law.such conflict shall not affect other pravis'sons of this Security lnstrument or the Note which can be �
<br />_ � • , . given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared .• .
<br /> . � _ . to be severable. � � .
<br /> � . 16.Sorrower's Copy.Bvrrower shal)be gi�•en ane conformed copy of the Note and of this Securit}Instrument. . .
<br /> ' ' Form 3�28 9/90 '
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