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<br /> • , payinents may no longer be required.at the option of Lender,if mortgage insurance coverage(in the amouat and for the period � . •
<br /> .. Was Lender nquires)provided by an insurer approved by Lender again becomes available and is obtained. Borrawer sha11 pay
<br /> . , . .. �`1 t6e premiums required to maintain mortgage insuranee ia effect.os ta provide a loss reserve.until the requicement for moitgage .,.r }• < `,
<br /> 3 in�+�rance ends in accordance with aay written a8reement between Burrower and Lender or applicable law. .� :�
<br /> � °_;� 9. Ittspection Leader or its agent may make reasoasble eatries upoa and inspections of the Property. iender shall give � ,. , . .:
<br /> . Borrower notice at the cime of or prior to an iaspection specifying reasonable cause for the inspection. �
<br /> . � 10. Condennatton.T6e proceeds of any aarard or claim for damages. dinoct or consequential. in connecrion wiW any � � . 4 . .
<br /> � . ' '� � condemoation or other taking of aay part of the Property.or for conveyance in lieu of condemnation.are hercby assi�ed and � . . . . .
<br /> � shall be paid to Lender. � `'� ` '
<br /> � � � In the event of a total ta[cing of the Property.the pracxeds shall be applied to the sums secured by this Secority Instrument, ,
<br /> � -��-='�`��: ' whether or not t6en due. wiW any excess paid to 6or*oa'er• In the event of a pa�tial takin8 of the Property in which�e fair � , . . _
<br /> r --� -- ; market value of the Property imtncdiately before the takiog is equsi to or greater than the amosmt of the sums secured by this � �,_; :,;.�_,.,<�,�.�T
<br /> : ° � : . the sums secured bY � f :
<br /> � Security insdument immediately before the taking,unles4 Borrower aad Lsader otheturise agree in writing, , -
<br />- �• . ' this Secusity [nstrument shall be reduced by tlte amount of the pmceeds multiplied by the fatlowing ftacciQn: (a) the total ( `
<br /> � ' divided by (b)the fair market value of the Property immediately k . :<.,.2°:�. `
<br /> . � ; •� amount of the sums secured immediately before ihe takiag+ �vvhich the fair
<br />_ • before the taking. My balance shall be paid to Borrower. in ttce event of a partial tatsing af the Property ' �� .�.
<br /> � market value of the Property immediately before the taldag is less t6an the amount of the sums secured itnmediately before the ' -, �:;-'_
<br /> : takiag,uniess Borrower and Lender othcrwise agree in writing or tmless applicable law oiherwise provides. the procceds shaU . .' , ,.
<br />. , be applied to the sums secured by this Security Instrument whether or not the sums ara then due. ` `.4:,'', �;':�. _
<br /> � � .; If the Propercy is abandoned by Bor[ower.or if,after notice by Lender W Barrower that the condemnor offers to make an .:,f, .y;
<br /> -t award or settle a claim for damages, Botrower fails to respond to Lender within 30 days aftet the date the norice is given, -.,r:;.--.--;�,-
<br /> :���,
<br /> L,ender is authorized to coUect and apply the proceeds,at its option.either to tescotarion or�pair of the Property or to the sums _ --
<br /> ' ' ' secured by tlris Security Inshumeut,whether or not then due. t,; F�;
<br /> � Unless Lender and Borroaer otherarise agree in writiag, any application of proc�s to principai shall not e�etend or " .,�,:;
<br /> . . � postpone the due date of the monthly payments referred w in Parag�aPhs 1 and 2 or change the amount of such paymenis• f. �. �,��•_�
<br /> . `: li. Borrower Not ReIeas�d;Farbearance BY Lender Not a Waiver.Exteasion of the time for payment or modification ;s—:,,.�:
<br /> • ''' � of amort'vation of the sutns secured by this Security.l�trument granted by lender W any suctxssor in intecest of Borraarer s1�a11 -- �r'
<br /> _ ; � L .s'�••
<br /> . ... aot operate to release the liability of the origiaal Borrower or Borrower's successors in intenest• LEader shall not be required to � � �
<br /> _ �':� commeace praceedings againsc any successor ia interest or refuse to eatend time for payment or otherwise modify amort�tion l`;.:�._
<br /> . . _:.� of the sums sec+ued by this Security Insmiment by reason of any demand made by the original BorroN+er or Borrower's '� ;;�,f--
<br /> -.. { successors in interest. Any forbearance by Lender ia eaercising any right or remedy s6a11 nat be a waiver of os preclude the _ 'st `;'";
<br /> � . 1 exercise of az►y right or remedy: . 'IYie covenants and a eements of this � •.':'•�,'��
<br /> . . , i 12. Successors and �ss�g�s Bound; 1ou►t and Several Liabillty; Co-sIgners � , n•��,��_
<br /> i •� � �;�yr+`�'��' :_
<br /> - ' � Securiry instrument s6a11 bind and benefit the successoss and assi8ns of Lender aad Borrower, subject to the provtsions oP
<br /> s • y�
<br /> ,4 � � • '' .:�`:�...'���li•"
<br /> • paragraph 17. Borrower's covenants and agreemeats shall be,joint and several. Any Bon'uwer aho co-si this Secatri _
<br /> � Instrument but daes not execute the Note: (a) is co-signing this Secuntl+Instrument only to mortgaae, grant and convey tbat
<br /> .,� ,�. �'':
<br /> ' , •' !,� Borcower's interest in the Property under the ternis of ttus Security Instrument;N)is nat personally obligated to pay the aums ;: �., �
<br /> � � socurad by tlus Securiry Inscrument;and(c)sgrees that Lender and any other 8orrowet may agree to extead,modify,forbear or -i ����
<br /> � make any accommodations with regard to t6e terms of this Securiry Instrument or the Note without that Borrower's cerisenf. ._ �, :_:
<br /> - . 13, Loan Charges.If the loan secured by this Sec�uity Instr+iment is subject to a!aw which sets maximum loan charges. ::":�.:
<br /> �r:�i�
<br /> . • and that�aw is finatfy inteipreted so that tha ir►cerest or other loan charges coTlected or to be collected in connection with the . ,�y._,
<br /> . , loan exceed the pennitted limits. then: (a)any snch toan charge shal!be reduced by the amount neces.qary to reduce the charge , , �`. -;� �_
<br /> � � to the penniued limit;and(b)any sums alrt-ady collected from Borrower which exceeded permiueci timits wiU be rei�nded to :: _�}:;'=,�
<br /> � Borrower. Lender may choose to make this refund by reducing the principal owed under tha Note or by making s direct •
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<br /> :�-`-
<br /> payment to Botrower. If a refund reduces principal, the reduction will be treated as a Partiat prepayment without tmy � t.:� .y'_
<br /> ' prepayment charge under the Noto. , �-"a��
<br /> • 14. Notices.Any notice to Borrower provided for in this Securiry Instrument sha11 be given by delivering it or by mailing��� . � ".�.�.-•
<br /> � it by first class mail unless applicable law requires use of another method.'17se notice shall be directed to the Property Address �,. . , --
<br /> � or any other address Borrower designates by notice to Lender. My noGce to Lender shall be given by first ctass mail to a_" ��.. ,' _,'
<br /> Lendes's address stated herein or any other address I.ender designates by notice to Borrower• MY aatice Provided for in this _
<br /> • Security Instrument sha11 be deemed to have been given to Borrower or Lender when given as provided ia this paragraph. � : . .
<br /> 15. Governing l.aw; Severabillty. 7t�is Security Instrumeat shall be govemed by federal law and the law of the
<br /> � , jurisdiction in which the Prope�ty is located. la the event that any provision or clause of this Security lnstrument or the Note •• .- - -
<br /> �r,• I wnflicts with apQlicable law,such conflict shall not affect other provisions of this Secutity Instniment or the Note which can be
<br /> ,. i given effect without the conflicting provision.To this end the provisions of this Security Instrument and the Note are declared � �j
<br /> to be severnble. .
<br /> 16. Borrower's Copy.Borrower shall ba given one conformed copy of the Note and of this Securiry Instrument. .
<br /> , Form 3028 9/90 . , �.
<br /> ' • OMACM•CMS.0263.NE 186011 PaAe 4 019 �nr.�ale: ;' '
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