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<br /> � �� ents may no ton r be required.at the opdon of Lender,if awrtgage insucance c�verage(in the amount and for We periad , � •� � �``� `�•
<br /> F ,. ` t ; :� P� Se .�`.::.:,. .'
<br /> ' that[.ender requiies)Provided by an insurer appnaved by Lender agai,n beoomes availabte and is obtained.Borru�rer shali pay q ..,: : •, .
<br /> ' tiie pcemiums re.quited to maintain mortgage insUrance in effecc.or to provide a loss reserve.until the reguirement for martgage� ;. _,'.:.
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<br /> ,'. �:,.'. insu�anc�eads in IIcconfanoe witl�aay wriuea agreement benveen Borrower and Lender or applicable law. � '��`�"�
<br /> " : 9.Inspec3Ion.Len�er or its agent may ma[ce�easonable entries upon and insgectiQns of the Property. Lender shall give � '�`. . �°�'- . •
<br /> • `��� : Sorrower notioe at the dme of or priar to an inspedion specifying ieasonable cause for the inspection. . �. . •_�.'�'`` :
<br /> � 10�Condemna4ion. 'i'tie proceeds of any awazd or ciaim for darnages.direct or conseqaential. in connection with any� ���� `,. -
<br /> -- condemnation vr other taking af mry part of the Property,or for corrveyance in lieu of oondemnadon.are hereby assigned an�� `
<br /> shall be paid to l.eader.
<br /> U thc event of a total tsking of the Property,the pmceeds shall be applied to the sums secured by this Security I^���^�['� � `� �•-�-
<br /> whether or not then due, with any eacess paid to Borrower. In the event of a partial taking of the Property in whic8 the faira� ` F .
<br /> ....�.,,. .,,,<
<br /> market value of the Pmperty c�ediatety before the taking is equal to or greater tban the amoum of the sums secured by t6is� r '_�_�
<br /> : , �.
<br /> • � "� �'�5�� Security Inmument immediatetY before the taking.unless Borrower ar►d Lender otherwise ag�ee in writing,t6e sums secured by � , ; ,. �.�'
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<br /> � ` � this S�urity Instrument shall be reduced by the amount of the proceeds mWtipfied by the following fract'ton: (a)the total `�''`°`�`_ "�
<br /> °'. ��.:.� '` amaunt of the swns secured icnmediately 6efore the tatdng,divided by(b)the fair mark�t value of the Propercy immediately .,<:24,.':�_'.R�
<br /> .,; � �,,._ ,�. before the taidng. Aay bataace shall 6e paid to Barrower. In the event of a partial tatdng of the Property In whicb the fair . �`x'�°%:.�
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<br /> ` � - . market value of the Pnoperty immediately before the talang is less than the amonnt of the sums sec�ured imme�ately before the .-_- ��-
<br /> � taking�unless Borrower and Lender otherwise agee in writing or unless applica6le law otherwise provides, the proceeds shall
<br /> .: ��:'� �:..
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<br /> . ' be applied to ttie snms secured by tUis Security Instrument whether or not the sums are then due. � �<<c �
<br /> - ''�-�� =�' If the Property is abandoned by Horrower.or if.after notice by Lender to Borrower that the condemnor offers to make an � ',,;:•:_,=•,.
<br /> � ' '"� award or settie a claim for damages, Borrower fails to respond to L.ender within 30 days after thc date the notice is given, . . �
<br /> � ._ ._'�:�,... Lender is a�uhorized to coUect and apply the prnceeds,at its optian,either w restoration ar rcpair of the Property or to the sums �. _;`_'"�--
<br /> �--- � se.cured by this Security Insuumeni,w6ether or not then due. ,: �.
<br /> ` ,.
<br /> . � Unless Lender and Borrower otherwise agnee in writing, aay application of proceeds w principal shall aot extend or ___
<br /> � < � postpone the dus datc of the monthly payments referred to in paragraphs 1 and 2 or change tD�.amount of such paymenu. `.:•,•"•'��v=_
<br /> . ' 11.Borrower Not Re�eased;ForhPartwce By Leader Noi a Waiver.Exteasion of the time for payment or modificatioa `` '� '�-"`'
<br /> �=• � ' �'��a.""`i,:.�—
<br />•;°'°.-: � 'i ��-; of amonizaaon of the svms secured by this Secvrity insuument granted by l.ender W aay successor in interest of Bomnwer shall _ _,_ ��;
<br /> • " aot opetate to release the liability of the original Boaower or Boaower's successors in interest. Lender shaU not 6e re�uised to �;-,;•.��
<br /> , ,�:� cammence praccedings against any successor in interest or refiue w extend time for payment or otherwise modify amortization = _ __
<br /> .. � " ' • af the sums secured by this Secarity Instnuc►ent by reason of any demand made by the original Borrower or Borrower's =- _
<br /> . - , successors in interest.Any forbearance by Lender in eaercising any right or rzmedy shall not be a waiver of or preclude the _ "- -__
<br /> . . `•�'� exercise of any right or remedy. � `�.
<br /> ` � �� ' 12.Sacxesso�s aad AssIgas Bound;Joint and Several Llability; Co-slgners. The covenanu and agreemenu of this r',, � ,,�e.:=;
<br /> ,;: `•>� Security Instrument shal! bind and benefit the successors and assigns of Lender and Soasower. subject to the provisions of . > .���
<br /> � paragraph 17. Bonower's covenants and agreements shall be joint and several. Any Boaower who co-signs this Security �_` Y�='
<br /> � � - Instniment but does not sxecute the Note: (a)�.co-signing this Securiry Instmment onty to martgage,grant and concey that :,.:T,,: ":: _
<br /> �� Borroaer's interest in the Property under the tern�of tivs Security Insuument:(b)is not personally obligated to pay the sums - .-,a ���''s='
<br /> � -� � secured by this Security insnument;and(c)agrees that Leader and any othes Borro�aer may agree to extend.modify,forbear os �',.�'3g°
<br /> .� . ' � ' make any accamiuodations with regard to the terms of this Security Instrument or the Note without that Borrower's cansent. �.'�*` � � �_�-
<br /> ' • '�f� 13.Loan Chafges.If the loan secured by thi.g Secvrity Instnunent is subject to a law which sets maximum loan charges, - __
<br /> " and fhat law is finally interpreted so that the interest or other loan eharges ee�lected or to be collected in connection with the . � _ -___ _
<br /> , ',�. laan exceed the pennitted limits.then: (a)any such loan charge shall be redaced by the amount necessary to reduce the charge � ��.
<br /> ,� to the pemucced fimit:and(b)any sums already collected from Borrower which eaceeded pemutted limiu will be refunded to _
<br /> ' ' :` 1 Borrower. Lender may choase 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 principal, the reduction will be treate� as a panial prepayment without any � -_=_
<br />.. ' � . pnpayment charge under the Note. ` �a�.�.�;•. •.,�y�;
<br /> . 14.Notices.Atry notice to Borrower provided for in this�ecurity Instrument shall be given by delivering it or by mailing . - -- ..
<br /> ' ' .: ;.'. ; it by fisst class mail unless applicabte law requires use of another method.The notIce shall be directed to the Property Address . �:� �_ �; ?
<br /> • � or any other address Borrower designates by notice to Lender. My notice to l.ender shall be given by first class mail to ".��'� �
<br /> �j •�� • Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provideQ€e7 in this ` . .
<br /> � ' Security Instrument shall be deemed to have been given to Bonower or Lender when given as pravided in this paragraph. .� '.,' `. ,
<br /> ' '. � 1S.Governing Law; Severabll�ty. This Secur�ty lnstrument shall be govemed by federal law and the taw ofthe � ���;��^"„-':.
<br /> • ' jurisdictior�in which the Property is tocated. In the event that any provision or clause of this Securiry lnstrument or the Note .
<br /> , . • conflicts with applicable law,sach conflict shall not affect other provisions of this Securit�Instrument or ih�Note which can be � • •
<br /> • � ' . given effect without the confticting provisIon.To this end the provisions of this Security Instrument and the Note are declared `��
<br /> ' ta be sevcrable. . �
<br /> � , � � 16.Borro�ver's Copy.Borrower shall be gi�•en one conformed copy of t;�e Note and of this Securi.y Instrument. . • •
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