|
9�- 108449
<br /> payrnet,cs may no longer bc reqLi-��, u the apdon of Lender, if mortgage insuraace co-•7dge(ia the amount and for thE period
<br /> that Lender requi:ts)providtc 5y zn insurer a�pror-td by I.ender again beca�s ivailable and is ohtaintd. Borrowet shall pay
<br /> thc prernium,rcquired to maintrin mortgage ina:rancr in effea,or to�m�ide a loss reserve,imtil the requiremeut for rnas:gage
<br /> insurance er:ds'sn accordance with any wriiten agrtcn-,eat betvveen Borr�:m�d I.eader or applicable Iaw. •
<br /> 9. Izspection. Lender or its agent may make;easonablt tntries npo� 2ad inspectians of the Property. l.ender shall iqivt
<br /> Borrower aotice at the time of or prior to an inspection spe•�ifying�nabte cause for Lhe inspection.
<br /> 10. Cou�lemnation. ihe proceeds of airy awznd or clai� :or damages, dinci or consequential, in coanxtion with any
<br /> car.demnation or ocher taking o�any part of the Property, or for convrya�tt in lieu of coademndtion, are hsreby as.;igned ond
<br /> saa.4t be vaid te Len�er.
<br /> I7 tbe event of a tocal taking of th�Proprrty,the procce�s shall be applied to the sums�ecured P}r this See+,;rity In,�stcusent,
<br /> wheeher or not then duA, vrith ar,y e:cess paid to Borrower. In the event of a partial talcing of the Property in which the fair
<br /> market value of the�roperty i�ediatc?y befare t,�.e;aring is equal to or graata thaa t�e amouat of the sums se�,^urod by this
<br /> Security instrument immediately bcfore th�talrinv_,•�less Borrower aad L-ader ot�erwise agree in writing,tt�°sums se�curtd by
<br /> this Securiry Instrumeni shall be reduce� by ��,e a�unt of the praaeds mniti�tied by the following fra:tion: (a) t�e rotal
<br /> amount of the sums secured imn.�ediatcly before tht takins, divi�cd by {b) the fair m3rkC va�ue of the Praperty imt�diat�ly
<br /> f�fore the taking. Any bala�ce shall be paid to Borrower. :n the eveac of a prrtisl Wriag of the Property in which tht fair
<br /> market value oi the Propezty immediauiy before the taYing ia less than±he amount�f tha snias�,.�re�immediatelp before thc
<br /> ca;cing, unlcss Borr�wer and Lender atherwisc agrx in writiag or tmless a�plicable laa•ott,erwise�p.ovidcs, the pnxx�edt s5a11
<br /> be app!ied to t�c sumc secured by this Security ltsstrumtnt whether or not the sums are thea due.
<br /> � tf�he Pr�perty is aba�doned by Berrower,or if,after notice by Leader to Sorrower that the condemnor offers co make an
<br /> awasd or scttle a claim for darnages, Borrowes fails to rrspond to Lendtr within 30 days after the date the notiot :is given.
<br /> Ixnder is authorized to cotlect aad appty the proaods,at its ogtion,either to restorazian or repair of the Property or to the sum�
<br /> secared by tbis Sa.-urity Instrument,vvhether�r not thea due.
<br /> linless t,cnder and �3orre��er o;htrwise agret in v,-riting, any applirzuon of groaeds to priacipxl shall not txtend or
<br /> pestpone ehe d��e date of tihe mcnthly paymenu refesred to ia paragraphs 1 znd 2 or change the amount of such payments.
<br /> 11. Borrower�1`ot Released;For6Karance By Lender i�ot�Ws�iver. Eztension of the time for payment or modr,fication
<br /> of amoctiv�:ien oF the sums secured by this Security Inswmwt grantai by Lender W azry successor in intetrst of Borrow�er shall
<br /> not opc•ratc co releau e�c liabilicy of the original Botrowcr c;Borroxet's successors in interest. Lender shall not be reqtured to
<br /> commence procerdings against any 5uccasor in interest�r rtfiut to eztrnd time for payment or otherwist modify amon::zatioa
<br /> of �he sums secured by this Seruriry Insuumeat by reason of any demand �ade by the original Bormwer or Borrc�ver's
<br /> successors in interest. Any for�xarane.e by Lwdcr in ezarising any right or temedy shall cot be a waiver of or preclude the
<br /> ezercise of any right�r remedy,.
<br /> 12. Successors and Assigas Bound; Jo[nt and Several Y.iabiiIty; Co-�s[gnas. 'Ibe covenants and agrecaxnts of this
<br /> Securih� Instrumrnt shall bind and beneft the successors and assigiu of I,cader and Botre�wer, subject to the provisions of
<br /> paragraph 17. Botrower's cavenanrs :,n� agrtements shall be joint aad stveral. �y Borrower who co-signs this Secutity
<br /> Instrument but does not e«xute tne Note: (a) is a�-signiag this Secun'ty Insuumer,t only t� tnortgage, grant and convey that
<br /> Borro�ver's interest in th� Froper*y under thc ter�of this Sec�rity Insttuaxnt; (b) is not pe:rsonaliy obligated ta pay the sutnr
<br /> secureci by this Security Insuumem;and(c)agtrrs that t.ender and any other Borrower may agree to eztend, modi.fy, forbear or
<br /> make any accommodations with regard ta fht tetms of this Stcuriry Instruintut or the Note without that Borrower's cotueai.
<br /> 13. Loan Charges. If the loan secured by this S�ecupry Insuu�nt is subjea to a la�v which uts mazimum loan charges,
<br /> and that law is fin�lly in:e:preted so thaz the intcrest or other loan charges cellxt� or to be collxted in connectiQn crith the
<br /> loan ezc..-ed the permitted lEmiu, tbrn: (a) avy such loan chat�ge shail be reduxci by the amount nect,ssary to redua the charge
<br /> to tne �ermitted lir,�it; and (b) any sums alr�ady coll�ctsc,from Berrawer which ezcaded permitted limiu will be rsfunded to
<br /> Borrower.�Lr_nder may choose to make this �:fund by rrc:ucing the principal owed un�er the Note or by making a direct
<br /> � payment to ^uorrower. If a rePmd r*�uca pr�ciFai, the rtdaction will be treaiM as a gartial ptepayment without any
<br /> prcpzyment charge under thc'Va_..
<br /> 14. Notices. Any netice ta Bor;-ewer pro�•idzd i:r in this Security Instrument shali be giveu by deIivering it or hy mailing
<br /> ic by first c3ass tnail urless a�plicable law requires use of another mtthod. 'Ibe notice shall be`�ireste�' to the Propar.y Addtess
<br /> or any ocher address Borrewcr designat� by aotir_ to L,ender. Any notice to Leader shall be grven by first class mail to
<br /> Lender'c adciress statrd hercin or any other address :.ender designates by notice to Botrower. Any aotice provided for in thi:s
<br /> Security I:istn:ment s'�i�ll be c��.cied to tiave becn o�en to Botrowr> oz L,endtr when given as provided in tfiis patagraph.
<br /> 15. Gn�•ernir_a �t.a�; SeverabUity. This Sec.-+�rity Instrument shall be governer� by f�deral law and thc law of the
<br /> jur'sdiction ia which the I'roper*y ;� located. In ti�e eveat that any provision er clause of this Stcurity Inst*umenc or the Note
<br /> con licts wi;h apolicable law, such conflict shall not affect other provisions of this Security Inserument or the Note which can be
<br /> gieen effect without thc conflic��ug provision. To this end the grovisions of this Securiry l�strument and ths Note are declared
<br /> to be severab:e.
<br /> T5.Borror�er's Copy. Eorrower shall be given ont conform�d capy of the Note ana c�f this Security Insuument,
<br /> 1— 4 6 4 Form 3028 9l90
<br /> ��-GRfN�t��iz;.oti L`_'044 v,�.aoee i��
<br /> �7,�
<br /> _ . . .._ . _���
<br />
|