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<br /> � � � payments may no longer be required,at the opuon of Lender.if mortgage insurance mverage(in the amount and for the period �� � • - �� _
<br /> ` � • t hat L en der requires>provided b y an insurer a p proved by Lender again becomes available and is obtained. Borrower shaft pay , �` `� .
<br /> - - . � ' [he premiums required to maintain mortgage insurance in effect,or to provide a l.�s.S reserve,uucil the requirement for mortgage � , .
<br /> ��:. `
<br /> " insurance ends in accrordance with any written agreement between Borrower and Lender or applicable law. •
<br /> . �,';,�.T: 9. Iaspertton.Lender or its agent may make reasonable enuies upon and inspections of the Property. I.ender shall give _ :
<br /> � �- `- Borrower notice at the tirue of or prior to an inspectian specifyiug re�sontbl�c►use for the inspection. - -_
<br /> . �
<br /> - :. 10. Coademnation. The procceds of any award or claim far damages.direct or coasequential, in connection with any . �
<br /> � • condemnauon or other taking of any part of the Properry, or for conveyance in lieu of condemnation,are hereby assigned and ''.'-� �`. �` �
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<br /> ' ` : ' shall be paad to Lender. ' � � ':
<br /> ��s�' ' �� In the event of a total taking of the Pmperty,the proceeds shall be applied w the svms secured by this Security lactrument, �•r�t. �
<br /> .. `��•. . . '....,
<br />- , , whether or not tiien due, with any excess paid to Borrower. In the event of a partial taking of the Properry in which the fair . =� ...
<br /> martce[value of the Property immediately before the taldng is equal to or greater than the amount of the sams securefl by this ���r��' '
<br /> :..�:,:;, ,s;; :�;
<br /> Security Iustrument immediately before the taking.unless Borrower and I.ender othenvise agree in writing,the sums secuced by �' r ='.^:,_°:.
<br /> ': 4....- .
<br /> � " this Security Instrument shall be reduced by the amount of the proceeds muluplied by the following fraction: (a) the total •. -;' .:'__'
<br /> amount of the sums secured immediately before the taking,divided by(b3 the fair market value of the Property immediately ;.��-�
<br /> ` . • �' ` before the taking. Any balance shall be paid to Barrower. in the event of a partial taking af the ProQerty in which ihe fait =
<br /> ' market value of the Property immediatefy before the taking is less than the amount of the sums secured immediately before the ___
<br /> <., � taking,untess Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides,tbe praceeds shali , . �----
<br /> . • be appfied to the sums secured by this Security Insuument whether or not the sums are then due. .• '��
<br /> � ` =.. .,:: [f the Property is a6andoncd by Barrowcr.ur if,after notice by Lendcr to Bunawer that the condemnor offer:+[o make an • . � .:.;�;=____
<br /> ,..0 .
<br /> . • ��;��. award ur�ettle a claim for damage.r. Borrowcr fail+ to retipi�nd tn L.ender within 30 d:iys after thc datc the nntice is giveo. ��� s�_'�?�:
<br /> ' Lender is authorized to coltect and apply thc proccuis.•rt it+upuun.either to restoration ur mpair�f thc Prapeny or to the tiums • ��
<br /> � �ec�ured b this Securit ln+trument.�chether or not then due. ' ��
<br /> ' • Unic� Lender and Boru�wer othenvi,e agrce in writing, any appliwtion ��f proceecls to principal shall not excend or '�;�',r-��';
<br /> ' o�t ne thc duc datc of the ruonthl a ment,rcfenal tu in ar ra hs 1 and 2 or chan c thc amount of such a ments. '"� ���'`
<br /> ¢;;:: -;::, p . p� Y P Y P' �€ P S P Y •-; ----.�-_
<br /> . I1.Borrc►K�rr Not Releayed:Forbearance By I.ender Not e Waiver. �xtension of the time for payment or modification . ; � �. ;;�+`=-
<br /> � • of amortizatian of the sums secured b this Securit (nstrument ranted b I.ender to an successor in interest of Horrower shal! . �`
<br /> . Y Y S Y Y� •:"c�,��
<br /> • :. , not operate to releace thc liability af the original Borrowcr or Borrower's successors in interest. l.ender shall not 6e�quired to , ',���:-
<br /> , ,�3 commence praceedir�s a�ainst any sucressor in interest or refuse to ex[end time for payment or othenvise modify amortization ';-�_
<br /> ' ' of the sums secured by this Securiry Instntment by reasan of any demand made by the original $orrower or Borrower's . � '•``�
<br /> � � successors in interest. Any forbearance by Lender in exercising any right or remedy shall not bz a waiver of or preclude the � '' ' � `r�';�
<br /> �-- • —=� excrcise of any right or remedy. �'d°,'�
<br /> ' . 1Z. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of this �� °�>..
<br /> -- -. -.--, Securiry instrument sha}1 bind and benefit the �uccesu�rs and assigns of T.ender and 'Borrawer, sub;ect to the provisions of _ �_
<br /> ' " � .' paragraph 17. Boaower s covenantc and agreements shall be joint and several. Any Borrower who co-signs this Security � � `'n�"
<br /> .: �.-_
<br /> � '. � Instrument but does not execute the Note: (a) is co-signeng this Securiry Instrument only to mortgage,grant and comey that `�:'""
<br /> • Borrower s interest in the Property under the terms of Yhis Security Tnstrument:(b)is not personally obligated to pay the sums `'.:�-:�
<br /> , � � setured by this Securiry lnstrument:and(c)agrees that Lender and any other Borrower may agree to extend.modify,farbear or •. ��°�:
<br /> . . make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. . � _
<br /> � 13.Loan Cha�q;es.If the loan secured by this Security Instrument is subject to a law which sets m.aximum loan chazges, . � •.-'�
<br /> and that law is finaUy interpreted so that the interest or other loan charges wllected or to be collected in wnnection with the _ =�=
<br /> ��� �: . �- toan exceed the permitted limits,then: (a)aay such loan charge shall be reduced by the amount necessary to reduce the chazge • _
<br /> � � to the permitted limit;and(b>any sums already coUected from Borrower which exceeded permitted limits will be refunded to • � R;`�,;
<br /> ��; Borrower. L.ender may choose to make this refund by reducing tfie principal owed under the Note or by making a direct :
<br /> � � payment to Borrower. If a refund reduces principal, the reductian will be treatecl as a partial prepayment without any �' :•,t":�
<br />-�. " " : ;:� prepayment charge under the Notc. • •.
<br /> . 14.Not[ces.Any notice to Borrower provided for in thi�Security Instrument shall be given by delivering it or by mailing • �"��
<br /> , .'.'� it by first class mail unless�pplicable law requires use of another methad.The notice shall be directed ro the Properry Address ' •�� . • '
<br /> � or any other address Borrower designates by notice to Lender. Any notice to Lencler shatl be given by first class mail to ,
<br /> ,� L.ender's address statcd hercin or any ather address Lcnder designates by notice to Borrower. Any notice provided for in this , . :. ,
<br /> � 5ecurity Instrument shall be deemed to have been given to Borrower or Lender when given a5 provided in this para�raph.
<br />' 's. :� IS.Governing l.a�v; Severability. Thi. Security Instrument shall be governed by fcderal law and the law of the :� . r..
<br /> jurisd•.�2ion in which the Property is located. In the event that any provisio�or clause of this Security Instrument or the Note
<br />- conflicts with applicable law,sach conflict shall not affect other provisions of this Security Instrument or the Note which t;an be
<br /> . . given effect without the cuntlicting provision.To this end the provisions af this Suurity Instrument and the Note are declared � . .
<br /> to be severable. •
<br /> ' � 16.Borrnwer's Copy.Horrower tihall be given une conti�rmed copy of the Note and of thi�Security lnstrument. •
<br /> ��� � form 3�28 9/90 . .
<br /> � � � vaqo a o�6 �
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