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<br /> • `' � s payments may no langer be[equire�.at the option of Lender.if mortgage insurance coverage(in die amount and for the period }�. ' . ,' �
<br /> '. ` � .Z tf�at I.ender requires?provided by an insu:er approvod by Lender agaln beoomes availabte and is obtained. Borrower shall pay `z '� - ,' � ;
<br /> . . . ':; the premiums required to mainmin mortgage insurance in effect.or to provide a lass reservc.unii{the requirement for mortgage '%'f��.��. ...: -� .
<br /> � `, � insurance ends in accordance with any written agreement between Borrower and Lender or applicable law. '_ : ' :-
<br /> � -,•� ( -.' ..
<br /> _ � 1. Inspedtoa.Letuler or its agent may make reasonable enuies upon and inspecxions of the Properry. l.ender shall give � r. •.
<br /> -�r,.� Borrower notice at the time of or prior to an inspection specifyiag reasoaable cause for the in�rction. `. `
<br />_. . ` lU.ConttemnatFon.The proceeds of any awand or claim for damages. direct or cousequential,in com�ection with any . . � -_--
<br /> . condemnarion or oiher taking of any part of the Proper[y,or for conveyance in lieu of condemnation,are hereby assigned and - •r ,'
<br /> ... _�. •. shall be paid to Lender. `;` ;�;c •
<br /> In the event of a Wtal taking of the Property.the proseeds shall be applied to the swns secured by this Securiry Instrument, � r-•��=�
<br /> �. � _: . . : •.
<br /> � � whether or not then due,with any excess paid to Borrower. In the evem of a partial taking of the Property in wirich the fair
<br /> � marlcet value of the Property immediately before the taldng is equal w or greater than the amount of the sums secvred by this ` ` a
<br /> . ' Secarity Instrument immediately 6efore tt�ee taking,unless Borrower and Lender othenvise agree in writing,the swns secv�d by � � �,q;`
<br /> �. this Security Instrument shall be reduced by ihe amount of the proceeds multiplied by the follo�vin; fraciion: (a)the wtal � , ,.
<br /> amouat uf the sums secured immediately before the talting,divided by(is)the fair market vaiue of the Property immediately ' '
<br /> .,f. before the talting. My balance shall be paid to Borrower. In the event of a partial ra�of the Property in which the fair - __
<br /> ' , • " market vatue of the Properry immediately befare the taking is tess than the amount of the sums secured immediatety 6efore the __
<br /> "" ° taking, unless Borrower and Lender otherwise agree in writing or unless applicable law otherarise provides,the proceeds shaU •
<br /> be applied to the sums secwed by this Security Instrurnent whet6er or not the sums are then due. � '--
<br /> •. . . " If the Property is abandoned by Borrower,or if,after notice by Lender w Bonower that th��ndemnor offers to make aa .`:�„�,�.
<br /> - � ' award or settte a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given. � . !;—
<br /> �; ,�;F Lender is authorized to collect and apply tlte proceeds,at its option,either to restoration or repair of the Property or to the sums . . 4�•'�_�
<br /> . . . , secured by this Security Instrument.whether or not then due. �� ��'�—
<br /> � � Unless Lender and Borrower oiherwise agree in writing, any application of proceeds to principal shall not extend or ' .' • �' ; .�•_=
<br /> , �.� postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. ,. � -
<br /> -• � -� !1.Borrower Not Reteased;Forbearance By Lender Not a Warver.E�ension of the dme for payment or modification ,„';�,' :..;���,
<br /> � � of amorti7ation of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shnU �, �•�� �!`
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<br /> • not operate to re7ease the liability of the original Borrower or Borrower's successors in interes� Lender shall noi be required to ' � _.�.�_
<br /> s.:--��;
<br /> � commence proceedings against any successor in interest or refuse to extend rime for payment or otherwise modify amortizadon . '"_,•,��..
<br /> ' � � of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's ���`.<,;-'.� .;i�
<br /> .� ' successors in interest. Aay forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the ' �•'' -
<br /> •- � . � eaercise of any right or remedy. ••� ''����r''
<br /> - - � � 1Z.Successors and As4ign4 Bound; Joint and Several Lia6ility; Co-signers. The covenants and agreements of this � �;�
<br /> ' . Sea�rity Instrument shall bind and benefit the suca�ssors and assigns of Lender and Borrower, subject to the provisions of �:. _-_-_
<br /> � �' -���� �� paragraph 17. Borrower's covenants and agreemenGs shall be joint and several. Any Borrower who co-signs this Security .. `�,.,,
<br /> " - • -- � Instctmient but due�not execnte the Note: (a}is co-signing ihis�.,�,urit}; Insuument only to mortgage. Qrant and cc+nvey that •'__• ' �. =�==-''
<br /> ,. . . uc . .
<br /> - Borrower's interest in the Pro e under the terms of this Securi Instrument:(b)is not ersonall obli ated to a the sums ���
<br /> P nY �'<-
<br /> �y P Y g P Y �'�;::—
<br /> . . .. � secured by this Security Instrument:and(c)agrees that L.ender and any other Borrower may agree to extend,madify,forbear or • . '��;:
<br /> , � . make any accommadations with regard to the terms of this Security Insuument or the Note without that Borrower's cansent. � __`
<br /> � • � 13.Loan Charges.lf the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, :• . _
<br /> . � � and that law is finally interpreted so that the interest or other loan charges collected or to be collecced in connection with the ""''"�"``'-----
<br /> loan exceed the permitted limits,then:ia)any such loan chaTge shall be reduced by the amount netessary to redace the charge :�
<br /> • . -�•• to the permitted limit:and(b)any sums atready coilected fram Borcower which exceeded pernutted limits will be refunded to =
<br /> - . Borrower. Lender may choose to make this refund by reducing the principal o�ved under the Note or hy making a direct . . , • . �;:i�;'.
<br /> � . � :'� payment to Borrower. If a refund reduces principal. the reduction will be treated as a partial prepayment without any ; _,,,�`
<br /> � • prepayment charge under the Note. • "
<br /> ' ' ' ' ,� 14.Nottces.Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing
<br /> �� , • it by first class mail unless applicable law requires use of another methad.The notice shall be directed to the Property Address -"; ' ,
<br /> , � or any other address Borrower designates by nvtice to Lender. Any notice to Lender shall be given by first class mail to �
<br /> '. Lender's address stated herein or any other aAdress Lender designates by notice to Borrower. Any notice provided for in this � ���"
<br /> . . � � Security Instrument shall be deemed ta have been given to Borrower or l.ender when given as provided in this paragraph. _ � '
<br /> 15.Governing Law; Severability. This Security Instrument shall be govcrned by federal law and the law of the . •�
<br /> . jurisdiction in which the Property is lacated. In the event that any provision or clause of this Security Instrument or the Note , .
<br /> canflicts with applicable law,such conflict shall not affect other provisions of this Security lnstrument or the Note whieh can be ,
<br /> _ . � • given effect withaut the conflicting provision.To this end the provisions of this Security Instrumer_*.:�rd the Note are declared . . '
<br /> to be severable. ' ' � �
<br /> . . 16.Bormtver's Copy.Borrower shaU be given one conformed wpy of ihe Note and of this Security lnstruR:�nt_ .:
<br />- Form 3028 9180 • �• - �
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