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<br /> ,'�,.,�, ��`4�_,`� payinents may no longer be requircd.at the oAtion of Lender.if mortgage insumnce covernge(in the smount and for th�periad •::.` . . ... F,
<br />.�" . � that Ixndes rcqu ires)Dmvi d e d b y a n i n s u re r a p p r ov e d 6 y i.ender a g a i n hemmes available ahd is abtained. Borrower shall PaY ' �:'.•` ` . ,
<br /> � � the pmmiums nequ�red to maintain mortgage insuranoe in effect.or to provide a loss reserve.until the cequirement far mc�rtgagc ' •' . , . i
<br /> ' < insurance ends in accordans�v�ith any written ageeme�u between Bomower and Lender or appficabte la�v. ��der shatl give� , `: •::�� � °
<br /> � ` � ,,• <`' 4.I n s p e c t l a n. I.ender or iu a gent maY make re�asonable entrirs upon and insQecaons of the PropertY• ':: ,,:^-- '_'<.: ,
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<br /> ` ,�-` Borrower notice nt tiie time of or prior to an inspe�ion specifying reasonable cuuse for t he insp e c t io n. , `�:.:�' . , �. •
<br /> � .��-':=f, 10.Condemnattan. 't'he prncee�s of any award or claim for damages, dir�t or cons�quential. in coanection with any . . . °..5;'.'
<br /> ��_
<br /> condemnation or other taking of any pare of th�Property.or for conveyance in tieu o f c ondemnation, are herehy assigned and�
<br /> - _-�- -
<br /> . ,L , � • shall be paid to Lender. Iastrument.
<br /> s. :�-,- In the event of a total taldng of the Properly.the proceads shall be applied to the sums secured bY this Secusity .,•.
<br /> �" whether or not then due.with any excess paid to Borrawer.In the event of a partial taking of the Property in which the fair ;. ._. •: .
<br /> = • - matket value of the Property immediately befon the taktng is equal to or greater than the amouat of the sums serured by this ': �-_.
<br /> '�' �;;. Sec�urity Insmiment uan�ately befoie the taldng.unless Bomawec and Imder othetarise agree in writing,the sum5 secuied by < . --
<br /> this gewrity Instrument shail be reduced by the amoant of the praceeds multiPlied by the following fraction: (a} ti;e total ;. y
<br /> . `''.`��`� .�' amount of tfle sums secured immediatetY before the taldng,dividQd by (b)the fair market value of the Property immediate[y ;.�Y:.;: :=;
<br /> 6efore the taking.Any balance shall he paid to Borrower.In the evem of a partial taking of the Pmperty in wlucb the fair ,� _�. _
<br /> • � �'.� marlcet value of the Property i�ely before the talmsg is less than the amount of the sums secured imme�te�Y before the :Y- _
<br /> tatcing,nniess Bonower and Lender otherwise agree in writing or untess applirab2e law otlzeraise provides,the pmoeeds shaU _
<br /> '..>. �:•;:.�
<br /> . . be applied to the sums secured by this SecuriiY I���er or not the sums are dzen due. .
<br /> � ff the p�,pperty is abandoned by Boaower,or if,after notice by I.ender to Borrower that the condemnnr offe�s to make an
<br /> � ' • award or settte a claim for damages, Borrov�+eT fails to resP°nd to I.endes within 30 days aRer the dare the notice is given,
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<br /> Lender is authotiied to oollect and apply the pmceeds.ai its oprion,either to restoradon or repair of the Property or to the sums �
<br /> • � secured by this Secvrity Insuument,whethec or not thet►dne. _ � '�� --
<br /> - - • - --�.' "F Ualess Lender and Borrower othenvise agrree in writing,any aPPlication of proceeds to principal shall not extead or : ��'.sr_�.�,�_.
<br /> g i ••!':ti:'�=.
<br /> ,. .::�. 4'. postpone the dus date of the monthlY payments referred to in puagraphs 1 and 2 or c6ange the aznoum of such paymeuts. _ <_..•_i -
<br /> I l.B o r r ower Not Retease�;For6earance BY 1.ender Not a Waiser.Extension of the time for payment ar modification : :�,.,:�
<br /> ted 6y Lender w any successor ut interest o f B o r c o w e r s h a l l ` �;�.�4��
<br /> � of amortiradon of the sums secvred by this Secnrity Instrument gran
<br /> ,��
<br /> . .. .. • not operace to Telease the liability of the osiginai Borrower or Borrawer's saocessoss in iIIterest.Lendea'shall not be required ta �_
<br /> � . commence proceediags against anY success°r in interest or e+e�ase to extend time far payment or otherwise mmodifY amort�u°n •, ,;.��,�
<br /> • of the sums secured by this S�curiq+ Instrument by reason of any demand made by the original Borrower or Bomuwet's � �: ��
<br /> • ' successors in interest.Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the �: y�
<br /> � •�,.' exercise of any right ar remedy. ':"�1"�.�'--�
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<br /> "'''�� 12. Successoss aad Assigns Bound+ Joint and Seveial Liabllity; Co-sfgners. The wvenants and agreements of this :°-
<br /> ' Security Instrument shall bind and benefit the successors an d assigns o f I.e a d e r a n d B o r r o w e r. s u b j e c t to the provisions of ;� j�
<br /> - . � ' paragraph i7. Borrower's covenants and agreements s h a l! be joi n t a n d s e v e r a l. A n y B o r r ower who co-si g n s this Security � _
<br /> �` � ' Instrument but does not execute the Note: (a)is co-signing this Securiry Instrnment only to mortgage. grant and convey that �,,� �
<br /> �r_.:
<br /> ` � � Borrower's interest in the Property under the cerms of thu Security lnstrument:(b)is not PersonallY obligated to pay the sums �_
<br /> ;,•���,-.:..� . ,
<br /> s e c u r�d b y t h i s S e c uri t y Insirument:and(c)agrees that Lender and any ather Borrower may agree co extend.modify.forbear or ����
<br />_ . . -��=
<br /> ' make aay accommadanons with regard to the temu of this Security Instrument or the Note wi t hout t h a t B o r ro w e r s c o n s e n t. �.:L-�..-_
<br /> '< '• � . 13.Loan Ch:arges•If the loan secured by this Security Instrument is subject to a law which sets maximum toan charges, _
<br /> ' � •. . ��.� ami that law is finally interpreted so that the interest or other loan charges wllected or to be coltected in connection with the �:J�N_:;���'a
<br /> _� � 1oan excexd the permitted fimits,then: (a)any such loan charge shall be reduced by the amount necessary to reduce the char8o ��;^:___�y_
<br /> to the permitted limit;and(b)any sums already collected from Bonawer which exceeded pem�itted limits wi11 be refunded to
<br /> . ` •i:,. �: �`, Borrower. L.ender may choose to make this refund by reducing the principal owed under the Note or by making a direct ��`�r��!�.
<br /> payment to Bonoaer. If a refund reduces principal. the reQuction will be treated as a partial prepayment without aay _
<br /> � • , � .; �� . ``' , prcpayment charge under the Note. �-�'''
<br /> deliverin it or b mailing ��°� -
<br /> ' � � 14.Nodcxs.Any nvtice to Borrower provided for in this Security Instmment shall be given by g Y �,.E,:p�;
<br /> .. „ • ':.c it by first class mail uniess applicable law requires use of another method. The notice shall be directed to the Property Address �,� ' ��
<br /> or any other address Bonower designates by notice to l.ender. Any nouce to Lender shall be given by ficst ctass mail to ���
<br /> � . Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this _ _ _
<br /> ��•� � �, . gecurity]rrstrument shall be deemed to have been given to Borrower or Lender when given as provided in this patagraph• � '�'�� � •
<br /> � � • 15.Governing Law: Severabllity. This Security Instniment shall be govemed by federal law and the law of the ,
<br /> � . '� _ . jurisdiction in which the Praperty is located.In the event[hat any pmvision or clause of this Security Iasuumem or the Note •
<br /> • , • . . ; conflicts with applicable law,such conflict shall not affect other provisions of this Security Instrument or the Note which can be '�'` -
<br /> . ," • ,. � • given effect without the conflicting provision.To this end the provisions of this Security Instmment and the Note are dcclazed ;�:�.
<br /> � � to be severable. � . ' .
<br /> . � 16.Borrower's Copy.Borrower shall be given one conformed copy of the Note and of this 5ecurity Insttument. ._
<br /> . . Form 3028 9/90 . .
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