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<br /> �, � payments may no longer 6e requimd.at the opuon oY l.ender,ef mortgage i�.surance cr�verage tin the ainwnt and for the period .� - �
<br /> ` • •� that Lender requires)provided by sin insurerapproved by Lender aguin beoomes availabte and is obtained. Borrower shall pay �`�'` _ `
<br /> � �.: � . :. ., the pmmiums requlred to mainuiin mort�ge insvrunce in effect.or to provide a loss reserve,until the requirement for mongage . '•� "� .�
<br /> insurance ends in acc+ordance with any written agmement between Bos�ower and Lender or applicabte law. �`�Y'� ��
<br /> ° �� � • � 9.Insp�ctlon. Lender ar its agent may make reasonabie enuies uFon and inspections of the Property. l.ender sball�ivc : ` ti�r �_
<br />�, � �.;`-_.,.�:`, Bomnwer notire at thc titne of or prior to�inspeciion speafying reasonable catue for the Inspection. " �. .
<br /> -" 10.Condemnauor�..The procePds of any award or claim for damages. dicect or cansequential. in cannection with eny� _ , ,• .'. .
<br /> .: �' oondemnation or other takiag of any part of the Property. or for conveyance in lieu of candemnation,are hereby assigned and ' t'�.''�r
<br /> ==-"=.C�=- sttall be paid ta L�eMcr. - _�--
<br /> `` , • In the event of a total taking of the Property.the pnoceeds shsll be applied to the sums secuied by this Security Ins�rument. � ;; .
<br /> L . wheiher or not then due. arith any excess paid to Bottawer.U the eveat of a partial taking of the Property in which the fair a '��,..�
<br /> . � • � market value of We Propeity immediately trefore the taking is equal to or greater than the amount of the swns secured by this . ``��f Y
<br /> _ _ : . ,. ��� � ° _ _-
<br /> Security Instrument immediatety before the taking,unl�s Borrower and Leader otherwise agree in writing.the sums secw�ed by ,
<br /> , this Secvrity Insuument shall be reduced by the amount of the proceeds multiplied by the following fiaction: (a) the total � ,,�. '. � �.��_
<br /> _ � ' amount of the sums secured immediately before the taking,divided by (ls)the fair market valae of the Praperty immediately . �.• "y-�' �--
<br /> ' :,,. '-'� �;f` befoie the taldng. My balance shall be paid to Borrowes. In the evem of a partial taldng of the Property �n which the fair �°-=- __`
<br /> . market vatae of the Property�mm�%ArPly before the taking is less than the amount of the swns secured immediately 6efore the ;'"���� _
<br /> . - ta�ing, unless Borrower and I.ender otherwise agree in writing or unless applicabte!aw otherwise provides, the prooeods shaU
<br /> , be applied to the sums sec�red by this Security Instrumeut whether or not the susas are thea due. . .
<br /> � � . If the Property is abandoaed by Borrower,or if,after notice by Lender to Borrower that the oondemnor offers to mske an ,
<br /> , • . VT:� award or seule a claim for damages. Borrower fails to respond to l.ender within 30 days after the date!he notice is given, ' �' �'
<br /> � .` Lxnder is authori�d to collect and apply the proceeds,at its option,either to restoratioa or repair of t6e Property or to the sums . . ' • -_.
<br /> � _ "" � secured by this Seauity Insuument,whether or not then dae.
<br /> -'���• --�-``-'�Y�' Unless Lender and Borrower otherwise agree in writing, any applicatioa of groc�cls to principal shall not eatend or , --
<br /> , • .: � , =--
<br /> . postpone the due date of the monthly paymenu referned to in paragraphs 1 and 2 or change the amount of sucb paymeats. •• :���..- -
<br /> • ` 11.Borrow�No!Reteasmd;Forbearance By Leader Not a Walver.Extension of the Nme for payment or modification ��'�:�'ti_'"`
<br /> of amartization of the snms secured by tlus Secnrity Instrument granted by Ixnder to any successor in interest of Borrower shall ` �'=�=�``_'-`
<br /> ,,,;� � :<.4 - .
<br /> " .".' =��':.`:.:^.�'.��" not operate to release the Gability of the originat Borrower or Borrower's saccessors in interest.I.eniter shaU not be required to � •--�:. :����`
<br /> � ,� �� � • cammeuce proceedings against any successor in interest os refuse to extend time for payment or othenvise modify amortization f� ;;�'�'�:L"�
<br />�T� :. . . - - of the sams secured by this Sewrity Insuument by reason of any demand made by the oripnal Bors��er or Bormwer's _ : -_--_--
<br /> -- • successo�s in interest. Any forbearance by I.ender.in exercising any right or remedy shaU nnt be a waiver of or preclude the ` ---
<br /> ,` �. �'.. • exercise of any right or remedy. , �}" '�--
<br /> • '.." � 1Z. Sucecssots and Asstgns �ound; Joint and Several LiabDity; Co-slgt[ers. T6e covenants and agreements of this •`• "•'�_.�.f rr'•,--.
<br />- • . � '"�• Security Insmunent shall bind and benefii the successors and assign� of Lender and Borrower. subject to the pmvisions of � • ,:.�
<br /> . . � .. . paragaph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security :".�:' - _
<br /> • .� Instrument but does not eaecute the Note: (a) is ca-signing this Security Instrument only W mortgage,grant and co�ey that •'''r�'' .
<br />- , f:# Bonower s interest in the Froperty under the terms of this Secarity Instrument;(b)is not personally obligated to pay the swns L'�`:n�'� -
<br /> .." ' ;a secured by this Seauity Instrument;and(c)agrees that Leader and any other Borrower may agree to extend.madify,forbeat or ,. ' �t`-�
<br /> � � � '�,.;��: make any sccommodations with regard to the terms of this Security Instrument or the Note withoat that Borrawer's consent. � • � __
<br /> ` 13.Loan Cha�es.If the loan secured by this Security insmiment is subject to a law which seu maximnm loan charges. . �.- _—
<br /> � and tt�.at taw is finally interpreted so that the interest or other loan cbarges coUected or to be co1lected in connection aiih the • -' _-
<br />' ,,';;� . �'�: loan exceed the pertnitted limiu,then: (a)any sach loan charge shall be reduced by the amovnt necessary to reduce tHe charge '• ''��•:�:--:�.—.
<br />_ ' ;'''`,` , to the per�itted limit:and(b)any sums already collected from Borrower which exceeded permitted limiu will be refunded to -- �- ,
<br />- : � Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direci ' ,'..��'. -
<br /> ,, � payment to Bonower. If a.refund reduces pri�r��al. the reduction will be treated as a partial prepayment without any �'��' �-• ::
<br />"�.o'''� ": • ._. prepaymeni charge under the Note. � • �-._�1�__
<br /> _�....
<br /> .. � , 14.Notices.My notice to Borrower providec!for in this 5ecurity Instrument shall ba given by delivering it or by mailing � . � -_-
<br /> it by first class mail unless applicable la�v requires use of another method.The nottce shall be directed to the Property Address -.-.--- , .
<br />.:,y. " . , • ar any other address Borcower designates by naLce to Lender. Any notice to Lender shall be given by first class mail to '
<br /> � . Lender's address stated herein or any other add.��.s l.ender designates by notice to Borrower. Any notice provided for in this �� �°. .
<br /> � _ `. � Security i'nstrument shall be de�med to have been given tv Horrower or Lender when�iven as provided in this paragraph. •. ; '
<br /> _ ' 15.Governing Law; SeveraCn�ity. This Securiry InstrumeM shall be govemed by federal law and the la+� of the • .
<br /> °'��'� � . . . � jurisdiction in which the Property is located.ln the event that any provision or clause of this Securiry Instrument or the Note . ,�.'
<br /> canflicts with applicable law,such wnflict sha11 not affect other provisions of this Security Instrument or the Note which can be ' . •
<br /> � ... ' given effect without the confllcting provision.To this end the provisions of this Security Instrument and the Note are declared , . . .. . .
<br /> �' � . ,' � � to be severable. . . � .
<br /> � 16.Borro�ver's Copry.Barrower shall be given one conformed copy of thc Note and of this Sccurity Instrument. . , , . �
<br /> �>': � � . Wrm 3028 9/90 � . . ' .
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