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<br /> _R__ ' �tthsinntinlly equivnlent martgaae fnsurance coveraste is not availahle, 8anower shait pay to Lender euch month a sum eyuul to •
<br /> ' one•twelfth of the yeurly mortgage insur�nce prcmium being paid by Borcower when the insurance covcru�e iup+ut or rw.,cxi eu — _-- ==°----
<br />— ' , he in effect. Lender wiU acccpt.�use und retuin these payments�.s a Irns reserve in lieu of mortgugc insuranrc. L.as, re+crve �4 . . '
<br /> - ' puymcnts muy ni�longe�be requircd,at the option of L.cndcr, if mortgage imurance roveruge tin thc am��unt and fi�r thc peri��d� .
<br /> that I.�ndcr rcyaires)providc�i by an insurer i�pprrncd by I.enilcr ag:iin becrnne+avuiluhle and i+obtuincd. B�irrower+hull pay 1�r
<br />— the prcmiums rcyuircd tu maintain monguge in,urance in efFect,or to pr��vidc u lotis re,�rvc,until thr rcquircmcnt fi�r mortgug� '
<br /> — 4 ' imurunce�nds in accardunre with uny written ugrcement between Borrower:�nd I.ender or applicable law. •• •�
<br />� ' 9. In!�pectian. l.endcr��r its ngent may makc reu;nnablc entrir+upon und inypertiom of thc Prc�perty. L.cnctcr hhull b�vc � -
<br />— ' Borrowcr natice ut the time c�f or prlor to un�nspeetion sperifying reu�anuble cuu�e far the intipectiun. ° " �
<br /> —" 10. Cundemns�Non. The proceeds of uny uward or cl:�im for damnges, direct or comeyuentiul, in runnertiun with:u�y „
<br /> rondemnutiim or cxher tuking of uny purt of the Praperty, ar ti,r ronveyunce i� licu of amdemnation, are hercby;c��igned und �
<br />___ tihall hc paid t��f.endcr. . , ., ,
<br /> _ � In the event af a tot:i!tuking of tht Praperty, the praceeds shali be applied to the sums+ecured by this Security Instrument,
<br /> - whether or nut then due, with uny excess paid to Borrower. In the evcnt of u partiul tuking of the P�operty in which the fair
<br /> " " market vuluc of the Property intmediately beforc thc taking is cquul to or grcutcr than thc amount of the sums secur��i by this
<br />� .. Securiry Instnrment immediately before the taking. unless Borrawer and Lender utherwise ugrce in writing.the sums secured by .
<br /> k; thix Security lnstrument shull be reduced by the amount of the proceedx multiplied by the following fraction: (a) the tntal
<br /> umaunt af the sums sccured immediutely befare the taking, divided by(b) the fuir murket value of the Pmperty immediutely .
<br /> � � before the tuking, P.ny balance shall be paid to Harrower. !n the event of u partial taking of the Property i� which thc fuir
<br /> market value of thc Property immediately befom the taking is less than the amaunt af thc sums secured immediately beforc the
<br /> � takin�,unless Borrower und Lender othenvitie ag�ee in writing or unless applicable law atherwise provides,the prdceeds shall _
<br />_ be applted to the sums secured by this Security instrument whether or not the sums are then due. '
<br /> � If the Property is abandoned by Bottower,or if,after notice by L.ender to Bonower that the condemnor offers to make an ; ,
<br /> award or settle a claim far damages, Harrower fails to respond to Lender within 30 days after the date the notice is given. •
<br /> y � I.ender is uuthorized to collect and npply the proceeds, at its option,either to restoration or repair of the Praperty or to the sums ,
<br /> � •• � � secured by this Security Instrument,whether or not then due. � , ..
<br /> �s� Untess Lender and Barrawcr othenvise agree in writing, sny applicaiion af procerds to principaf shat! not extend or - .. .
<br /> postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the umaunt af such payments. ' . . ,.
<br />- i „ 11. Borrower Not Relcased;Forbearaace By Lender 1Vot a Waiver. Extension of the time far payment or modification , � ;
<br />�_� of umortizution of the sums secured by this Security Instn�ment�ranted by Lender to any successor in interest of Borrower shall ;t' , '
<br />-� not operate to release the liability of the original Bonower or Bonower s successors in interest. Lender shall not be requirec! ta „
<br />� s ° commence proceedings against any successor fn intsrest or refusc to extend time for payment or othe►wise madify amortixatian •
<br /> " of the sums secuma! by this Security Instrument by rcason of any demand made by thc original Borrower or Borrower's � .'��
<br />" successars in intemst.Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the �"::-
<br />� • • exercise of any right or remedy.
<br /> ,. , , 12. Successors and Assigns Bound; Joint and Several Liability; Castgners. The covenants and agreements of this �� �� �--
<br /> Security Insuument shull bind und benefit the successors and ussigns of Lender and Bonower, subject to the provisions of r�'�f';•"
<br /> • paragraph l7. Borrower's covenants and agreements shaU be joint and several. Any Borrower who co-signs this Securtty !
<br /> Instrument but dces not execute the Nate: (a)is co-si�ning this Secudry Instrument only to mortgage,grant and convey that _° " �;�i I
<br /> - . - — -- Borrowc,'�i��teiG,t iii tt��a Fra p ert y un3er il�c tcrms af this�urit y Instrutn2r►i: tb}is n�t �rso�ail y .�bli gat�i to pa y ttie sums -
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<br /> secured by this Security Instrument;and(c)agrees that Lender and any other Bo�rower may agree to extend.modi fy,forbear or " .?� „� � ��
<br />" mnlce any accommodations wtth regard to the termc of this Security Instrument or the Nate without thut Borrower's consent. •;:s;: ••.y. �' �
<br />'-� 13. Loun Charges. If the loan secured by this Security Instrument is subject ta a law which sets maximum loan char�es, ""''`',' .i �' �
<br /> " and that law is finally interpreted so that the interest or other loan charges collected or to be collected in cannection with the ,�;�: �!:� � i';.
<br />'--'�` � !oan exceed the permitted limits,then: (a)any such loan charge shall be reduced by the nnwunt necessary ta reduce the charge i � '�
<br />- � to the permitted limit and(b)any sums already coilected from Borrower which exceeded permitted limits will be refunded to � } �y;
<br />�� . Borrower. I.ender may choose to make this refund by reducing the principal owed under the Note or by making u direct �. '
<br /> a ment to Borrower. If a refund reduces rinci al, the reduction will be treated as a `;"'``" ��
<br /> p y p p partial prepayment wIthout any � • �
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<br />- - � = pmpayment chargeunder the Note. °;�.l.;}':, �"-
<br /> ' 14. Nottces.Any notice to Borrower provided for in this Security Instrument shall be given by deliverin�it ar by mailing °- ';';,:;'; ..
<br /> it by first class mail unless applicable law reyuires use of another method. The noticc shall be directed to the Property Address
<br /> • , or any other address Borrower designates by notice to I.ender. Any notice to Lender shall be given by first class mail to ' �'��'� 'r�-
<br /> ° L.ender's nddress stuted herein or any other address Lender designates by notice to Borrower. Any nottce provided far in this -��-�" `�
<br /> �� �� Security Instrumcnt shall be deemed to have been biven to Bonower or Lendcr when given as p�ovided in this paragraph. ., � °;,
<br /> '�' 1S.Gov�.n�nin� Laov; Severabiltty. This Security Instrument shall be governed by federul law and the law of the ,;,
<br /> , �� jurisdiction in which the Property is located. in the event that any provjsion or clause uf this Secur�ty Instrament or the Note .�'.::i;�,: "� v, �'�
<br /> conflicts with applicable law.such conflict shall not affect other provisions nf this Security Instrument or the Note which can be � `��;�.
<br />� �iven effect without che conflicting provision. To this end the provisions of this Security[nstrument and the Note are declured �
<br />- to be severable. �,.<,��.. ,� �'".,�,
<br />=� " ,, '"�' 16.Borrower's Copy.Sorrower shall be given one confurmec!copy of the Note und of this Security Instrument. ..�•= �
<br />�.�L � 17.TranvFer uf the Yroperty ar a Beneftctal Interest in Borrower.If all or any pert of tt�e PropeRy or any interest in it "�,''i.'��''„•�=-.'1"
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<br /> �� ' is so�d or transferred(or if n beneficiai in[erest in Borruwer i�svIJ ur�rnu,fere�ed aud Borrower i,uut u nuwral pzrsun)wtthout '�"�� � -'�"�� °
<br /> ��, Lender's prior written consent, L.ender may, at its option, requirc immediate payment in full of all sums secured by this ° �i�..
<br />_,�� Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibiicd by fedcral luw as of the date ,
<br />�� of this Securiry Instrument. '
<br />- If Lender exerciscs this opt{on. [.ende�shall �ive Bor�ower notice of accelenrtion. The notice shall pmvide tt period of not - . "
<br /> � less than 30 days from the dnte the notice is deiivered or mailed within which Borrower must pay ull sums secured by this ':� „
<br /> t Security Tnstrument. If Borrower fails to pay these sums prior to thc expiration of this period, Lender may invoke any remedies .�`��
<br /> � ��.. ' permitted by this Security Instrument without further notice or demand on Borrower.
<br />��� �;� ' . 18. Borrower's Right to Relnstate. If Borrower meets certain conditions, Borcowcr shaU hnve thc right to have •.
<br /> ' =� enforccment of this Sccunty Instrument discontinued at xny time prior to thc earlier of: (a) 5 days (or such other period as ' ,"
<br />- �:�, applicAbie law may spe�ify for retnstatement)befare sale of the Property pursuant to any power of sale contained in this
<br />'. !�= Security Instrument: or(b)entry of a judgment enfarcing this Security Instrumcnt.Those conditions am that Bc�nower:(a)pays
<br /> Lender ull sums which then�vould be due under this Security Instrument and the Note us if no acceleration had accurred; (b► � `
<br /> . �,� cures any default of any other covenunts or agreements: !c) puys all expcnses incurred in enforcing this Security Instrument.
<br /> inci►cdin�,but not limited to, reasonable attorneys' fees;and(d)takes such action as Lender may reasonably require to assure
<br /> ' th:�t the lien of this Security Instrument, Lender's rights in the Property and Bormwer's obligation to pay thc sums�ecured by
<br /> ' �F this Security Instrument shall continue unchan�ed. Upon reinstatement by Borrower, this Securiry Instrument and the ..
<br />�__n.__ obligations secured hercby tihall remain fully effective as if no accelcration had�xcurred. However, this ri�;ht ta rcinstate�hall ____ _ ___
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<br />�. "?- not apply in the case of acceteration under paragmph I7. � .
<br /> ,�, I9. Sale of Note: Chan�e of Loan 5ervicer. 'Thc Nota or a partial intcrc�t in the Nute (tc>gether with this Security;•' ,
<br /> Instrumcnq may bc sold one or more times without prior noticc t��Biirmwcr. A sale anay result in a changc in the cntity(known,
<br /> as the"Luan Servicer")that collccts monthly puymcnts Juc undcr thc N�ite and thi�Sccurity Inxtrument.Therc also may be onr� •
<br /> • �y�., or�norc changcx of the Luun Scrviccr unmlatcd tci a salc af thc Nntc. If thcrc iti u changc o!'thc Loan Servicrr, Borrowcr will bc•
<br /> . 3� • given written noticc uf thc change in�cronlunrc with paragr�ph 14 abovc and upplicublc law.The notirc will statc thc namc and� , .
<br /> uddress of thc new Loan Servirer and thc addmxti to which paymcnts should bc made. The noticc will ulso rontuin uny iithcr •
<br />- „ infnrmation mquircd by applicublc luw.
<br /> 20. li�xirdaus Substances. Burn�wcr �hull not rausc ar pcnnit thc pnscncc. use. Ji.p�iwl, titora�r, ur rcicu�c cif any �
<br /> ' H�uardous Subsianres on or in thr Property. Borro�vcr shall not Ju, nar allu�v unyonc cl.c tu do, xnythin� affecting thc � ,
<br /> Prop�rty that is in vi�,lution uf any Environrnental I.u�v. Thc prcrcti;ing hvu ticntenre. .hall nut apply t�i thr pncctnc, use. ur
<br /> sairagc�in thc Pn�perty of.mall yua��titic+ uf Har.uniiiu,Sub.tanrc, that arc�rnerully nra�niicd to Nc upprupriutc tu nom�ul � ,
<br /> ,�. residential use�utxl tu muintcnanrc of thc Property. .
<br /> ' ''.,,�.. ���'n Form 3028 9/90
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