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<br /> � � payment;may no longer be re�Nlr�d.a�tt►e option of t.ender,if mortgage insnrance coverage(in the amount and for the periad � �,� _,'
<br /> ''_ ;..�.. _,�t°, that Lender requires)provided by an insurer approved by i.ender again becomes available and is obtained.Borrower shall pay .,
<br /> . - the premiums required to maimain mortgage insurance in effect.or to provide a loss reserve.until the requiremeat far mortgage _-_�' �_�_�:;<_, `c_
<br /> . `; � - y_'�;` insurauce ends in acwordance with any written agreement betw�n Borrower and Lender ar applicable law. ,.: .,, _
<br /> ::•'�°�:� :�--'-�.= 9.Inspectton.Lender or its agent may makc reasonable entries upon and inspections of the Property. I.endRr sha[i give �t:- : _
<br /> '_' . Borrower notia ai the time of or prior to an inspection specifying reawnable c�se for the inspection. - ,
<br /> 10.Gondemoattan.The proceeds of an}r award or ctaim for damages,direct or canseqnential, in connection with any •
<br /> '� oondemnation�or other taking of any part of the Property.or for conveyance in lieu of condemnation. are hereby assigned and , -
<br /> ��'' � shatl6e paid to Lender.
<br /> " .� ' In thc event of a total taking of the Pcoperty.the prace�s shai!be apptied to the sums socnred by this Security Ingtrument, _ ` _
<br /> ��� �:.
<br /> �--�' whether or not then due, with any excess paid W Borrower. In the erent of a parrial takin8 of the Property in which the fair • •f� .�
<br /> -� ��`�f""""�` � market valae of the Property immediazely before the takin$is equal to or greater t6an the amo�utt of the sums secured by this
<br /> Security Instnunent immediately before the takin$,anless Botrower and i.ender othervvise agrce in wnnnS•the sums s��b3' - .
<br /> _ `'a.
<br /> : "� .�� `, this Security Insnvment shall be reduced by the amount of the pmceeds multiplied by the fopowing fraction: (a) the total . .
<br /> � amount of the sums secured immediately before the tatdng. divided by (b)the fair market value of the Property immediatetY ; : , :,�_
<br /> _ .�. before the tatring. Any balance shall be paid to Horrower. In the event of a partial taking of thr.Praperty in which t6e fair _+�,_�.,,':,`.'�
<br /> ��t. market v a lue o f t he P rope rt y i m m e d i a tel Y before the taki n g is less than the amount of the sums secured imme�liately before the t .," i �t• '
<br /> taking,unl�s Borcower and Lender otherwise agree in writing or uniess applicable law otherwise provides.the pmcxeds sba11 ,. � •, _
<br /> ' '�` be applied to the sums secured by this Security tnstrnuieat whether or not the sums are t1►en due. _�.*"-� --.
<br /> �.'.�; �
<br /> . � . If the property is abandoned by Bornower,or if,after notice by I.ender to Borrower that the condemnor offers to make an ,: ,,,_.,,�^>
<br /> award or settle a claim for dan�ages.Borrower fails to�nd to l.ender within 30 days after the date the nouce is given, ;.<<�.,,'',+_
<br /> ' ' L e n d e r i s a n t h orized to cottect and a p pl y the praceeds,at its option,either W rescoradon or repair of the Property or to the sums --
<br /> a;.��;..-'..r;, . �: _
<br /> ,9.�, secured by this S�curity inswment.whether or not then due. lication of roceeds to rinci al sha11 nat extend or --
<br /> ' . Unless Lender and Borrower otherwise agree in writin8. anY aPP p p p , � � _.,
<br /> -� �'` '" . postpone the due date of the monthly paymenu refemed w in paragraphs 1 and 2 or change the amaunt of such payments. - -
<br /> �� _ ' 11.BfleTOwer Not Released;Forbearance By Lender tVot a Waiver.Extension of the time for payment or modifiradoa =�
<br /> _ :,.`� -'�_�"�. of amortization of the sums secured by tiris Security Insanment granted bY L.ender to any successor iu interest of Bormwer shall _
<br /> � �� �? not operate to retease the liabiliry of the original Borrower or Bormwer's successors in interest. Leader shall noi be requited to r�"
<br /> � ' .� cammence proceedings againsc any s+iccessor in interest or refuse to extend time for payment or otherwise snodify amort'vation ;;>��.:-
<br /> � L '���'` of the sums secured by this Security Instruntent by reason of any demand made by the original Bonower or Borrower s ; r;._.,�,.�
<br /> � - . successors in iaterest. Any forbearance by Lender in exercising any right or remedy sha11 aot be a waiver of or preclude the ��' .�,�w��_�.
<br /> -�-: -- . , eaercise of any right or remedy. ' •: `�
<br /> ''' � 12. Su�ors and Assigns Bound;Jolnt and Several Liability; Co-sigaers. The covenanu and agreements of this "�
<br /> • ' � gecurity Instrument shall bind and benefit the saccessors and assigns of Lender and Borrower, sub,{ect to the provisions of '�.='�
<br /> � � paragraph 17. Borrower's covenants and agr�eeements shall be joint and several. My Borrower who ca-signs this SecuritY _ �_
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<br /> � Instrument bat does not exerute the Note: (a)is co-signing this Security Insuvment only to mortg,age,grant and convey that
<br /> - . Borcower's interest in the Property under the terms of this Security Instrument:(b)is not petsonally obligated to pay the sums . ��W�—
<br /> - � secored by this Security Instrument;and(c)agees thai Lender and any other Borrower may agree to extend.modify.forbear or ��__
<br /> - - malce any aoconmiada6ons wiih regard to thc tertas of this Sec�srity Instrument or the Nota without that Borrower's aonsent. �'_
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<br /> ' ' 13,Loan Chaages.If t6e toan secured by this Security Insuument is subject to a iaw which seis maximum loan charges, .,.:, :+=_.
<br /> � ' and thac law is finally interpreted so that the interest or other laan charges collected or w be collected in connection with the '`- �; _
<br /> ,_ laan ezc:e�the permitted limits.then: (a)any such loan charge shall be reduced by the amount necessary to reduce the charge �.:c ��;:
<br /> � to the permitted limit;and(b)a�y sums alteady collected from Borrower which exceeded pemulted timits witl be refunded to -- �_
<br /> • � � , � Borrower. Lender may chaose to make this refund by reducing the principal owed under the Note or by making a dired ' '��
<br /> ._ . , payment to Borrower. If a refund reduces principal. the reduction wifl be treated as a partial prepayment without any '• ,;�=�"
<br /> . : f� prepayment charge under the Note. '�,:'-:� :�'�--
<br /> • 14.Notices.Any nodce to Borrower provided for in this Security Instrument shall be given by delivering it ar by mailing � .. ;.
<br /> ' � ' it by first class mail unless applicable Iaw requires use of another methad.The notiw shall be directed to the Property Address �s-- -;.. ,�
<br /> . or�y other address Borrower 8esi$nates by notice to Lee:�er. Any norice to Lender shall be given by first cla�s mail to �..,,.. _--_`
<br /> ��' '- ' Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provide�for in this •;�,�_._
<br /> '' � Security Instrument shaU be deemed to have be�n given to Borrower or I.ender when given as provided in this paragraph. �� - -�--�:
<br /> • . 15.Governing LaN; Severabiltty. 'Ig►is Security lnstrument shall be govemed by federal law and the law of the {� '" `Y�'�`~�e:
<br /> • .� jurisdiction in which the Property is located. In the event that any pravision or ciause of this Security Instrument or the Note - :.
<br /> ". conflicts with applicabte law,s�cc�►wnflict shall not affect ather provisions of this Security Instrument or the Note which can be
<br /> � . .�':"•,, '• given effect without the contlict:::g Provision.To this end the provisions of this Securiry Instntment and the Note are declared �
<br /> ' ' '' � to be severable. - ..
<br /> • � 16.Borrower's Copy.Borrower shaU be given one conformed copy of the Note and of this Security Instrument. . „ . _
<br /> • ' . Form 3028 9/90 : � •
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