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<br /> . � paymenu may no longer be requited.at che option of Lender,if mortgage insurance coverage(in the amount and for the period .-• .
<br /> , � t6at Lender requires)provided by an insurer approved by I.ender again becomes available and is obtain�. Borrower sha11 pa.y :'a . .
<br /> ,' ,` �� .`,.__�.,' the premitt�s required to maintain mortgage insurance in efFecc,or to provide a loss reserve,unul the requirement for mortgage ,;,��
<br /> � insurance ends in accordat►ce wiit►anY wr'tten agreeme°t between Borrower aad Lender or appticable law. � � - •-�
<br /> . . . . $�., 51,InspecE(aa I.ender or iu agent may make reasnnable emries upon aud iaspections of the Property. Leader shall give �.. ` :� ,�.-
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<br /> :4•• Eorrawer notice at the time of or prior to an inspection specifying reasonable cause for the inspection. _
<br /> - G:'; , � 10. Condemetatlon. The proceeds of any awazd or claim for damages.din�ct nr consequential. in rnnnection with any
<br /> �<,•„ - , � condemnation or other taking of any part of the Property.or for conveyance in lieu of wndemnation. are hereby assigned and , � . .
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<br /> ' � � sha11 be paid to i.ender. �' , . • -
<br /> Y In thc event of a total taking of the Properry.the proceeds sha11 be applied to the sums secured by this Security Instrument. ;f,.
<br /> � �'' i,• _� 'r�`�, whether or not then due. with any excess paid to Bflrrower. In tfte event of a partial takir�g of the Property in wfiich the fair
<br /> � '__�--.:._..-::__' � -- -
<br />: market value of the Property immediatelY before the tabin8�s eciva!in or greater chan[he amount of the sums secured by this _
<br /> ' ��` `'�"' � � �:��; Security Instnuneirt immediatety before the taking, unless Borrower and Lender otherwise agree in writing,the sams secured by :
<br /> this Security Instrument shall 6e reduced b} the amount of the proceeds multiplied by the following fraction: (a) the total �
<br /> . �- amount of tiie stuns secured irrunediately before the taking.divided by (b)the fair market value of the Property �mmed�ately , ��•. `�_
<br /> --�� . � � " - before the taking. Any balance shall be paid tn Borrower. In the event of a partial taking of the Property in which the fair : - . ,
<br /> ' i_= m3rket value of the Property immediately before the taldng is less than the amouni of the surns secured immediately befare the
<br /> �� ; taking,anless Borrower and L.ender otherwise agree in writing or anless applicable law otherwise pravides,the proceeds s(tall ;�:� .
<br /> ` . ' . . be applied to the sams secured by this Securiry Insuument whether or not the s�uns are then due. , ` .:�r;
<br /> If the Property is abandoned by Borrower,or if,after notice by lxnder to Borrower that the condemnor offers to make an .
<br /> : award or settie a claim for damages. Borrower fails to respond to Lender within 30 days after the date the nntice is given, , � _
<br /> - � ` Lender is authorized to collect and apply the groceeds,at its option,either to restoration or re�mir of the Property or to the suins •,. ,�,�„�, ,+
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<br /> secured by this Secority Instrument.whether or not then dae. _ _ __ _
<br /> Unlsss Lender and Borrower otherwise agree in writing, any application of procP..eds to principal shall not extend or .
<br /> � �,,�` postpane the dae date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. ;:`� ; ::.;�-m_
<br /> r ',• � � 1!.Borsower Not Released;For6earante By Lender Not a Waiver.Extension of the 6me for payment ar modifcarion _`
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<br /> af amortization of the sums secured by this Security lnstrument granted by I.ender to any successor in interest of Borcower shall ., .;� ,�
<br /> y;.:`„° not operate to release the liability of the original Borrower or Borrower's successors in interest. I.ender shall not be required to ; ��.v :
<br /> � �+j; ' c o m m e n c e p ro c e E din gs a gainst an y successor in interest ur refuse to extend time for payment or otherwise modify amortization
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<br /> • of the sums secured by this Securiry Instniment by reason of any demand m a de by t he origin a l Borrow e r o r B o a a w e r's °�:��,:;�,�
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<br /> • � ,. saccessors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the ...7 _
<br /> ' , exercise of any right or remedy. � ` ���'�'
<br /> � � ..���"�`- iZ.Saccesso�s and Assigas Baund;Joint and Sereral LiabiUty;Co-signers. The covenants and agreemenu of this � �'
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<br /> , Security Instrument shall bind and benefit the successors and assigns o f L en der an d B orrower, sub ject to the provisions of • �:�
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<br />_ . '�"��e=`' p a r a g r a p h 17. Borrower's covenants and agreemenu shall be joint and several. Any Borrawer who co-signs this Secarity �
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<br /> � � ' Inswment but does not execute the Note:(a) is co-signing this Security Instrument on l to mo a e. g r a n e Y �a�i,`.;..
<br /> • . ' Borrower's interest in the Property under the terms of this Security Instrument;(b)is not personally ob liga t e d to pay t he sums • • .:��?-'
<br /> ' � secured by this Security Instrument:and(c)agrees that Lender and any other Borrower may agree to extend.modify,forbear or •`�` '°a
<br /> ,i --- - �'-" make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. �''�"�
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<br /> ' ���� �-�'-- �-° �" 13.Loan Charges.If the loan secured by this Security Insuument is sub}ect to a!aw which sets max�mum loan charges. � � • �
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<br /> ' • ' and that law is finally interpmted so that the interest or other loan charges collected or to be coltected in wnnection with the �. ',.:�,��t�;+
<br /> � loan exceed the pemutted limits,then: (a)any such loan charge shall be reduced h the amnunt necessary to reduce the charge __ -�•:-�,�.
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<br /> � � to the pemritted limit;and(b)any sums already collected from Borrower which exceeded pernvtted 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 direct ' ��=�`:
<br /> �" �� �.'.• `. payment to Borrawer. If a refund reduces principal, the reduction will be treated as a partial prepayment without a�y •.�";�:�-:
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<br /> , � ' prepayment charge under the Note. J�" '
<br /> � .. � • . 14.Notices.Any notice to Boaower provided for ia this Security Instnunent shall be given by deliverin�it or by mail➢ng '�`��•
<br /> �: �.;'�".: it by first cfass mai!unless applicable law requires use of another method.The notice shap be directed to the Property Address :.•`'�_s,.
<br /> ' � '' or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mnil to � ..: `�
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<br /> � ' '�k • . Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this �•='-,�x�:-
<br /> � . . Security Insttument shall be deeme�to have becn given to Borcower or Lender when given as provided in this paragraph. �•;:�„
<br /> 15.Goveming Lstw; Severability. This Seccrity Instrument shall be govemed by federal law and the law of the
<br /> � --- . jurisdictian in which the Property is located. In the event that any provision or clause of this Security lnstrument or the Note
<br /> '�; • .' conflicts with applicable law,such conflict shall not affect other provisions of this Security iastrument or the Note which can be ! .
<br /> • given effect without the conflicting provision.To this end the provisions of this Security Instrument and the Note are declared � _
<br /> - � ' • to be severable. ' �
<br /> ' . • 16.Borro�ver's Copy.Borrower shall be given ane conformed copy of th�I�ote and of this Security lnstrument. ,.
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