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<br /> � , ,� paymeats may no longer be required,at the option of l.ender,if mortgage insurance coverage(in the amount and for the period ` <. 1
<br /> � � that Lender requiresl prov�ded by an insumr approved by Lender again beoomes available and is abtained.Bonower shall pay �� ,;� �
<br /> � � • t he p re m i u m s re q u i r e d to maintain mort g a g e insurance in effeci.or to provide a loss reserve,until the requirement for mortgage �.•.. �..`•� .�..
<br /> � insursnce ends in acrnrdance�vit1►as►Y written agreemeni 6etween Borrower and L.ender or applicable law. ;r_., �:�`-,_::,�:_.
<br /> ,, �. _ ' �„_;_; 9. Imspection. Lender or iu agent may make reasonabte entries upon and inspections of the Property. Lender shall give ' f. ,
<br /> ' -�---"-•- Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. ` .
<br /> - . . 16.Coad�n�Uon.The praceeds of aay award or claim for damages. direcc or consequential. in connection with suy t �� _c
<br /> condemnaeion or other taking of any parc of the Property.or for rnnveyance in tieu of condemnation,are hereby assigned and
<br /> � � shall 6e paid to ixnder. ;� � �:- ''
<br /> � �� In the event of a rotal Eaking of die Property,the proceeds shall be applied w the sums secured by this Security Insmiment, '' ��� __..;� ' .�,
<br /> ,a. 4... •r,.�� -•:
<br /> �- � whether or not then due. with any eacess paid to Bomower. In the event of a partial taking of the Property in whi'ch t!►e fair 5
<br /> :s �� • market value of the Property immediately 6efore the taking is equal to or greater than the amount of the sums secured by this . : _
<br /> '� , '.i� Security Instrument immediately before the taking,unless Borrower and Lender otherwise agree in writing,the sums secvred by •;; , .~',_.,'..��
<br /> F _ ;_. .
<br /> ` _ this Security Instrument shall be neduced hy the amo�mt of the proceeds mulriplied by the following fraction: (a)the total . , :
<br /> �;t amouat of the sums secured immediately before the tatciag, d►vided by (b)the fair market value of the Property immediatelY l� ,�, �_.L �;-r-�.
<br /> � � ' � <� before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair : ���...
<br /> � market value of the Property immediately before the taking is less d►an the amount of the sums secure�immediately before the s -�x
<br /> talcing,unless Borrower and I.ender otherwise agree in wriang ar unless applicabte law otherwise provides, the prac.eeds shall
<br /> � f ��
<br /> _' �• ' be applied to the sums secured by this Security Instrument whether or not the sums are then due. � � �-�-°-°��
<br /> "."f�%•-�'• '`•-_--_..
<br /> �. .... .....
<br /> ' � If the Property is abandoned by Borrower,or if,after notice by Lender to Borrower that the condemnor offers to make an ;;:;,,. � :..,.�'�
<br /> �.� :;_�,,_�
<br /> - • -- award ar settle a claim for damages. Borrower fails to respond to I.ender within 30 days after the date che notice is given, , , '. , T
<br /> �._.:i,,,.�.: �'
<br /> � �• - I.ender is authorized to caUect and apply the proceeds.at its option,either to restorarion or repair of the Property or to the swns ..{����,
<br /> � . ��, secured by ttus Security Instcument,whether or not then due. ��•`' ��-
<br /> •�•�t.:: `', '
<br /> ° Unless Lender and Bo�ower otherwise agree in wriung, any application of praceeds to principal shal! not extend or N ''''� �
<br /> � . postpone the due date of the monthly paymenu referred to in paragraphs 1 and 2 or change the amount of such payments. ,!'I�,,�G;';i��;
<br /> '_.:< `�•:..�v.,.` ' "'..
<br /> ' 11.Borcower Not Released;Forhearance By Lender 1Vot a Wsiver.Extension of the time for payment or modificauon ...__1'�4•.�
<br /> • of amorrization of the surrLS secured by this Security Insaument granted bY L.ender to any successor in interest of Bosrower shall
<br /> 1, ..;
<br /> � ' � ' , aot a rate to release the liability of the original Borrower or Barrower's successors in interest. Lender shall not be required to �:�`�.1;� *����
<br /> Pe
<br /> � : ' ' � commence procee�ings against any successor in interest or refuse to extend time for payment or otherwise modify amortizauon �� :
<br /> ' � of the sums secured by this Security Insuument by reason of any demand made by the original Borrowes or Borrower's .;, ;.;�- �
<br /> . �� successors in interest. Any forb�uance by Lender in exercising any right or remedy shall not be a waiver of or preciude the r ` °�°
<br /> ' , exercise of any right or remedy. ` '��.��'��•�:
<br /> • � 12. Su�ssois and Assigns Bound;Joint and Several Ltability; Co-siguers. The covenants and agreements of this .. �:��
<br /> � Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions af _�
<br /> _—_ .- paragrag�s t7. Borrotiver's covenants end agreements shall be)oint and several. Any Boaower who co-signs this Security -� _
<br /> !8��' Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage.grant and convey that T-T---�:�,�;�
<br /> • '-T:S-_��
<br /> • Borrower's interest in the Property under the terms of this Security Instrument:(b)is not personally obGgated to pay the sums ;ti�.
<br /> ' : secured by this Securiry Instrument:and(c)agrees that l.ender and any other Borrower may agree to extend,modify.forhear or `;�,_ T.,
<br /> . ,:�..
<br /> � ' malce any accommodauons with regard to the terms of this Security Instrument ur the Note without that Borrower s cunsent. •.. ... ,�E.�-,y:
<br /> � � � 13.Loan Chatges.If the loan secured by this Security l�strument is subject to a law which sets maximum loan charges, Q �� -°—
<br /> � � and that law is finally interpreted so that the interest or other loan charges collected or to be collected in conneccion witb the , ,; ��.
<br /> • , � , loan exceeil the permitted limits,then: (al any such loan charge shall be reduced by the amount necessary to reduce the charge � � •,�,
<br /> _ ` _.t to the permitted limit;and(b)any sums already colleaed from Bonower which exceeded permitted limits 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 Barrower. !f a refund reduces principal. the reduction will be treated as a partinl prepayment without any
<br /> � � prepayment charge under the Note. , . , 'ti:�
<br /> • 14.Notic�.Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing ' *-
<br /> . , :.`
<br /> ,',. �
<br /> , ' , ..': ". ,.
<br /> � •' � °` it by first class mai!unless applicable law requires use of another method.The notice shall be directed to the Property Address
<br /> � or any other addreks Bonower designates by notice to Lender. Any notice to i.ender shal� be givete by first class mail to � ,
<br /> • � Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this . , ;-
<br /> ' Security Instrument shali be deemed to have been given to Bonower or Lender when given as provided in this paragraph. ''��.�.
<br /> �� l5.Goveming La�v; Severability. This Security lnstrument shall bc govemed by federal law and the law of the : �'+a`
<br /> ' � � � jurisdiction in which the Property is located. In the cvent that any provision or clausc of this Security instrument or the Note � �
<br /> .. • con0icts with applic;able law,such conflict shall not affect other provisions of this Security lnstrument or the hote which can be .
<br /> given effect without the conflicting provision. To this enJ the provisions of this Security Instrument and the Note:ue declared . -
<br /> 'S�
<br /> ! ta be severable. '
<br /> l6.Borrower's Copy.Borrowcr shall he given ane conformed copy of the Note and of this Sei:urity Instrument. .
<br /> Form 3028 9/90 � , • '
<br /> '- " , Payo 4 of 8 ' � .'
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