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<br /> wbsian�ially cyui�•alcn� nu�rtF�agc in�ura�u� ru�•crage is iu,t availahlc. Bc�rrawcr�hall pay ta Lcndcr c:uh m��nth a+um cqual t��
<br /> one-tw•elfth uf the yc:►rly mnrt�;a�e i�uur,u►�c pmmium�xing paiJ by&�rruw�cr w�hcn the in�urancr cu�•cragc la��c�l��r ce:ucYl tu
<br /> h�� in effi+�t.I.w+Lkr will wxent,11cC Atk)l2WII11Ilcv navn�.nt��+�: a iu�. r4.erve in lieu �d� nW�hQpee in�urancti. la��c r��ervr
<br />` � paYnxnts n�ay na fonycr b�rcyuirad, �t thc option of L.cn:icr, if mon�a�c in�u�ancc a���cragc 1in the anwunt anJ ti�r thc pc�icxi
<br />_ that Lcixlrr r.lyuiresl pruvi��l by an insw•c�•appru�•�vl by l.cixicr ag•rin b�•cimics awrilahle;uxl is ubt•ri:�cJ. Nurn�wcr�Ir.►li p•rY
<br />' the premiun�.�requircd tu n�aintain n�rtgage iacuranrc i�i effcct,or ro pn�vide a I��s rc.�en•e,until the rcyuin:nxnt for�iu�rega�e
<br />' ' iasurunce end�in acconlance w•ith any written agrcement�+etw�een Borrew•er a�ul Leruler or applicable law. C
<br /> 9. [aspectloa. Lender ur its agent m:►y nzal;c a:w�rwhle cntrics upnh�uki inspcctiuns of tha Property. Lcncler shall �irc
<br /> Borrowes atiotic�at the t'sn�e of ar prior to zn ins,xrtiem Sp�Yifying r�:unnable cau:::far the in�p�ctiun.
<br /> 10. (:oudewnailon. T'he proreeds of any aw�ard or claim far dan�a�es, direct ar cunsequential, �n connection with any
<br />:= run:iemnation or other tal;ing of any pait uf'the Prupe►�ty, or for ronvey:uke in lieu uC�Ynxleuuwtiuu. are h�r�by a.aigi�l wx�
<br /> �,h�;1 rw��d c,�ix�w�,.
<br />_ in the cveat oi a tataI taicing of the Yropert}•,the proceeds s"tmil be applieei to tne sums secured b��this�ecurity instrumetit�
<br /> µ•hethc;c�r nat thcn due, with an�� cxccsc paid ta Borrower. In thc event uf a partial taki�g af thc Praperty in which the fai�
<br /> muket value of the Prapeny immediately�bf:fore the taking is equal to or greater than thc amoun:of the surns sccured by thi
<br /> Secarity Instn�ment immcdiately before the tal;ing.unless Borrow•er and I.endcr atherwisc�agree in writing,thc sums scxured b
<br /> this Security In,ctrument shall be reduced by the anwunt of the prac,.als multiplied by the followinb fraction: (a) the tota
<br /> amount of the sunu secured immcdiately before the taking, di�•ided by (b) the fair market�•alue of the Property imnudiately
<br /> before the tal:ing. Any bala��ce shall be paid to Borrower. In the event of a partial taking of the Property in which the fuir
<br /> muket��alue of the Propeny immediately beforc the tal:ing is less than the amount of the �ums sccured imnuxliately before the
<br /> t�f:ing,unless Borrow�er and Lender otherwise agree in writing or unless applicable law othcrwise provid�s, the proceeds shall
<br /> be applied to the surru secured by this Security Instrutnent w•hether or not the sum�are then due.
<br />� ]f the Property is abandoned by Borrower,or if,after notice by Lender to Borrower that the condemnor offers to makc an
<br /> award or settle a claim for daanages, Borrower fail�to respond to Lender within 30 days after the date the notice is given.
<br /> Leruier is authorized to collect and apply the proceeds,at its option,either to restoration or repair of the Property or to the sums
<br /> xx;we�l by Qiis Sexariry Instrument,whether ur not then due.
<br /> Unless Len�rr and Bottower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />- postpone the due date of thc monthly payments referred to in paragraphs 1 aru12 or chanFe the amount of such payments.
<br /> 11. Bormwer Not Released;Forbearsnce By Lender�ot a�Vsiver.Extension oi the time for payment or modification
<br /> of amortization of the sums secured by this Security Instrumznt granted by Lender to an}•successor in interest of Borrower shaJl
<br /> not operate to raiease the liabil�ty of the onginal l3onower or Borrower's successors in interest. Lender shall not be cequired to
<br /> commence proceedings ag2inst any successor in interest or refuse to exten:�time for pa}•ment or rthenvise modify amortization
<br /> of the sums secured by this Security Inurument by re:��n of any demand made b�• the original Borcower or Borrower's
<br /> successors in interest. Any forbearance by Lender in exer.isi�g any right or remcciy shaZl not be a waivcr of or preclude the
<br /> exercise of any right or ren�edy.
<br /> 12. Successors stnd Assigrs Bound; Joini and Several Lis►bility; Co-signers. The covenants and agreements of this
<br /> . Security Inetnunent shall bind and benefit the successors and assigns of L.ender and Borrow•er, subject to the provisions of
<br /> paragtxph 17. Borrower's covenants and agreements shall be joini and several. Any Borrower who co-signs this Security
<br /> Instrument Iwt d�es not execute the Note: (a)is ec,-signing this Security Instnunent only to mortgage, grant and com•ey that
<br /> Bo.;nu•cr's int,,rest ia th:,Pr��rty under tfu,terms of this Security Tnstroment;(b)is�xu personally obligated to pay the suu►s
<br /> sena�by this Security Instrur.�ent;and(c)agrecs that Lender and any other Borrower may agree to extend, modify,forbear or
<br /> mai�:e an) acmmmodations with regard to the terms of this Security Instrument or the Note without that Bottower's consent.
<br /> 13. Losn Chnrges.If the loan secured hy this Security Instrument is subject to a law which sets maximum loan charges,
<br /> and that!aw is fin�lly interpreted so that the interest or other loan charges collected or to be collected in connection with the
<br /> loan exceed the pemuued limits,then: (a)any such loan charge shall be reduced by the arnount neces.cary co roduce the chazge
<br /> to the permitted limit;and(b)any sums already collected from Borrower which exceeded pem�aued limiu wip be refunded to
<br /> _ Rnrnn�rc, i��r m�� �12rvxr. t� r�fAlr� t�!S SL'f�!I:� �� !'"'..�:2:lSSD SZ'» j.lS^�2� .^.:.'ta Sli`.::..°i L�:� :`:O«° O:�� i:^w�•fSfi :y.: .f"�
<br /> - payment to Borrou;er. If a refund reduces principal. O�e reclucGun wili be lreateJ as a partial prepayment witbout any
<br />� prcpayment charge ander the Note.
<br /> 14.Notic�s.Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing
<br /> , it by first class mail unless applicable iaw requires use of another method. The notice shall be directed to the Propeny Address
<br /> or any otlur address Borrower designates by notice to Lender. Any notice to Lend�er shall be given by first cla5s mail to
<br /> � I.ender's addrcss stated herein or any other address Lender designates by noticc to Borrower. Any notice provided for in this
<br /> Sectuity Instrument shall be deemod to have been siven to Borrower or Lender when gi�•en as provided in this par�gra�,h.
<br /> 15.Goveming I.Aw; SeveraWlity. This Security Instrument shall be govemed by federai !aw and the law of the
<br /> . iurisdidion in which d�e Ptoperty is located. In the event that any pmvicinn or clau�e nf this Sec+��ty Instn�ment er the Nete
<br /> • conflicts with applicable law,such conflict shall not affect other prov�sions of this Securiry tnstrument or the Note which can be
<br /> given effect without the oonflicting provision.To this end the provisions of this Sc�urity Intwment rnd the Note arc declared
<br /> . to b�e sevenble. ,
<br /> 16.Bonnwer's C�py.Borrower shall be given one conforn:ed copy of the Nose arsd of this Security Instrument.
<br /> 17.Traacter ot tl�e Property or a Beneftcial Intet+est in Borrower.If all or any part of the Property or any interest in it
<br /> is sold or transferred(or if a beneficial interest in Borrow•er is sold or transferred and Borrower is not a natural person)without
<br /> L,erticler's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this
<br /> Securiry Insuument.However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date
<br /> of tltis Socurity Inst�vment.
<br /> If Lender exerrises this option,Lender shall give Borrower notice of acceteration. The notice shall provide a period of not
<br /> less ttt�n 30 days from the date the notice is delivered or mailed within which Borrower must pay all wms secured by this
<br /> Securiry Insuutnent.if Borruwer fails to pay these sums prior to the expiration of this period.Lender may invoke any remedies
<br /> . permittod by this Security Instrument without further notice or demand on Borrower.
<br /> 18. 3orrower's Rig6t to Reiastate. IE Borrower meets certain conditions. Borrower shall have the right to have
<br /> enforament of this Security Insuuroent discontinued at any time prior to the easlier of: (a)5 d�ys (or such oiher period as
<br /> applitable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this
<br /> Socurity Irutrument;or(b)ent,ry of a judgment enforcing this Security Instrument. Those conditions are that BorrowEr:(a)pays
<br /> Lender all sums which then would be due under this Security Instrument and the Note as if no�cceteration had occurred; (b)
<br /> cures any el'fzult of any other covenantc nr a�reements; {c)pays al! erpenses incurrec3 in enforcing this Srtwrity iruirum..°nt.
<br /> inciuding, iwt not iimited to,reasonable attorneys' fees:and(d)takes such action as I,ender may reasonably require to assure
<br /> that the lien of this Security lnstrument, I.ender's rights in the Property and Borrower's obligation to pay the sums secured by
<br /> this Security instrument shall continue unchanged. Upon reirutatement by Borrower, this Security Instrument and the
<br /> obligatians secured kereby shall remain fully effective as if no acceleration had occunad. However. this right to reinstate sttaU
<br /> not apply in the case of acceleration under paragraph 17.
<br /> 19. Sale of Plote; Change of Lottn Servicer. 'I7ie Note or a partial interest in the Note (together with this Security
<br /> Inctrument)may be sold one or more times without prior notice to Borcower. A sale may result in a change in the entity(known '
<br /> as the'Loan Servicer")that collects m.onthly payments due under the Note and this Security Instrument. There also may be one .
<br /> or r*iore changes of the Loan Sen�icer unrelaicd to a sal�of the Not;.. If thcr�is a change of the Loan Servicer. Borrower will be
<br /> given written notice of the change in aecordance with paragraph 14 above and applicable law.The notice will state the name and
<br /> address of the new Loan Scrvicer and the address to which payments shoutd be made. The notice will also oont�in any other
<br /> information required by applicable law.
<br /> 20. H�ardous Sub�nces. Borrower shall not cause or permit the presence, use, disposal, titorage, or release of any
<br /> HaTardous Substances on or in the Property. Bonower shall noi do, nor allow anyone else to do, anything :�ffecting the
<br /> Propeny that is in violation of any Fnvironmental Law. The preceding two sentences shall not ap�ly to the presence, use, or
<br /> storage on the Propeny of small yuantities of Hazardous Substances that are generally recogni�ed to be appropriate to normzl
<br /> residential uses and to maintenarue of the Propeny. � �
<br /> "+w 3 w� Fam 3026 9/90
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