|
�
<br /> , ..
<br /> �`
<br /> � g$- i�(�735 � . . -
<br /> ! paymcnts may na longcr bc rcquired,at thc opdon of Lcndcr.if mortgagc insurance covcragc(in thc umountand for ihc periad �
<br /> that I.ender requ'ves)provided by t�n insuter approved by Lcnder again becomes availablc and is obtained.Borrower shall pay thc
<br /> Ipremiums requlred to maintair►mortgage insurance in effect, or to provide a loss reserve, until thc requirement Cor mortgage �
<br /> , insurance ends in eccordance with any written asrecment between Bonower and Lender or applicablc law.
<br /> .� 9.Inspection. Lender or its agent may make masonable entrics upon and inspections of the Properry.Lender shall give .
<br /> Borrower notice at the pme of or prior to an inspection specifying reasonnble cause for the inspecdon.
<br /> ; 10.Candemnatiaa. 'Ihe proceeds of any awf►rd or claim for damages, direct or consequendal, in wnnccuon with any '--
<br /> � condemnauon or other taking of any part of the Property,or for conveyance in lieu of condemnadon,are hereby assigned and .-Y.
<br /> shall be paid w Lender. I ��. .�� '-�- `
<br /> In the event of a wtal taking of the Property,the proceeds shall be applied to the sums secured by this Securiry Instrument, � _,,,�`°
<br /> whether or not then due, with any excess paid to Borrower.In the event of a partial taking of the Property in which the fair market �:�
<br /> ;;..
<br /> value of the Property immediatcly before thc taking is cqual to or grcatcr than thc amount af thc sums securcd by this Security ': �=,,
<br /> I Instrument immediately before the taking, unless Borrower and L.ende�otherwise agree in wridng, thc sums secured by this "�-
<br /> ISecurlty Insdvment shall be reduced by ihe amount of the proceeds muldplied by the following fraction:(a)the tota!emount of
<br /> the sums secured Immedistely before the taking,divided hy (b} the fair market valuc of the Property immcdkltely beforc the
<br /> taking.My balance shall be paid to Borrower.In ihe event of a partial taking of the Property in which the fair markei value of the
<br /> Property immediatcly before the taking is less than the amount of the sums secured immediately beforc the taking, unless •, ..
<br /> Borrower and L.ender otherwise agrce in writing or unks�applicable law otherwise provides,the proceeds shaU be appGe�i to thc
<br /> sums se;cured by this Security Instrument whether or not the sums are then duc. :
<br /> If the Property is abandoned by Borrowcr, or if,efter notice by Lender w Boaower that the condemna offers to make an
<br /> , award or seulc a clsim for damagcs,Borrower fails to respond to Lender within 30 days aftcr thc date thc nouce is givcn,Lendcr , �
<br /> � . is authorized to wllect and apply the praceeds, at its option,eithcr to restoration or rcpair of thc Property or w thc sums sccurcd ��;,;_�
<br /> by thls Securiry Instrument,whelher or not then duc. -
<br /> g Unless Lender and Sorrower otherwise agree in wnung,any applIcation of proceeds to princlpal shall na extend or postponc ^;,,:
<br /> J the due date of the monthly paymenis refened to in paragcaphs 1 and 2 or change the emount of such paymenis. �
<br /> 11.Buzro•�er:`:o!i'_s! �� ;:�orts�..4rsat�9y!tnder No2 s Wtsi�Pr. Exiension of she timc for pa;sr^..s:s er medffirasi�rt
<br /> of amortization of tho sums secured by this Securiry Instrument granted by Lender to any successor in intercu of Borrower shall —
<br /> not operatc to rcicase thc liabUity of thc original Borrowcr or Bonowcr's successors in intcresG Lender shnll not bc requlrcd to --
<br /> commence procecdings against any succcssor in intcrrst or rcfuse to extend time tor payment or otherwise modify amortizat�on of '
<br /> ,
<br /> the sums secured by this Securiry Instrument by reason of any demand made by the original Borrower or Barower's successors
<br /> in interes�My forbearnnce by Lender in exercising any right or remedy shaU not be a waiver of or preclude�he exercise of ariy ��.�
<br /> right or rcmedy.
<br /> 12.Successors and Assigna Bound;Joint and Several Liabtlity; Co•si�ners. The covenants and agreements of this i"
<br /> � Stxurity Instrument shall bind and beneCt the successors and assigns of Lender and Bonower, subject to the provisions of '�{
<br /> .�
<br /> � paragraph IT. Borrower's covenants and agrccments shall bc joint and sevcral. Any Borrowcr who co•stgns this Securiry .�'�"�''—
<br /> � Instnunent but docs not execute the Note: (n) is co•signing this Seciuiry Instrument only to mortgage, grant and convey that
<br /> I _ Borrower's interest in the Property ur.der the terms ot this Securiry Instr�ment; (b) is not personally obligated to pay thc sums ~,. °
<br /> ! secured b this Securi Instrument;and(c)egrecs that Lender and ar► other Borrower ma agrce to extend,modif ,forbear or C ��-�'
<br /> make any accommodab ns with regard to the terms of Ihis Security Instrumcnt or the Notc w'ithout that Borrower's nsenG t ����.r� ,–
<br /> .�,,.,;.�
<br /> 13.LOAA Clip['gES. If the loan secured by this Secnrity Instrument is subject to a law which sets ma�cimum loan chazges, = --_.-_.
<br /> and thut law is Cmally interpreted so that the interest or other loan charges collected or to be collccted in conncction with the loan •.':•.f,-�-
<br /> i exceed the permitted limits,then: (a)any such loan charge shall be reduced by the amount necessary to rcaiuce the charge to the ' -�,��:�_,
<br /> � permitted limit; and(b)any sums already collected from Borrower which exceeded permitted limils will be re(unded to Borrower. �°��;�
<br /> Lender may choose w make this refund by reducing the principal oweci under the Note or by makins a dircet payment to `�•%'"^--
<br /> ;y,.__.
<br /> Horrower. If a mfund reduces principal,the reduction will be treated as a partial prepayment without any prepayment chu►•ge r�'??u=•_'�
<br /> . ,...,,,....
<br /> undcr thc Notc. ' 's ��' �`'
<br /> 14.Notices. M notice to Sorrower rovided fa in Ihis Securit Inswment shall be iven b deliveri it or b mailin u � �`"'
<br /> � Y P Y S� Y �K� Y S�
<br /> by first class mail uniess appGcable law requires use of another method.The notice shall be directed to the Property Address or
<br /> i any other address Borrowcr designatc.4 by nodce to Lcndcr. My nolicc to Lendcr shall be givcn by Cust class meil to Lendcr's I
<br /> address stated hcrcin or any othcr address Lender designatcs by noticc to Borrower.Any notice provided for in this Sccuriry i
<br /> Instrumcnt shall be decmed tc�have bcen given to Borrawer or x,ender when givcn as providcd in this paragraph. I �
<br /> 1S.Governing Law;Severabiltty. This Sccurity Instrument shall bc govcmcd by fcdcral law and the law of thc `
<br /> jurisdicpon in which�he Property is Iocated. In U�c cvent that any provision or clausc of this Security Inswmcnt or the Notc f
<br /> conAicts with applicable law. such conflict shall not affect other provisions of this Security Inswment or the Note which can be j
<br /> given effect without the contlicting provision.To this end the provisions of this Security Instrument and rhe Noae are declared to i
<br /> bc sevcrablc. 'I
<br /> f �
<br /> ; Form 3028 9/90 ;
<br /> � •BR{NE)�ezui.oi aageao�0 in�uaie
<br /> O
<br /> � � ..
<br /> �
<br /> ' I
<br /> '�A I
<br /> �1_.. .. . .. .._ ...
<br /> ..____. . . .__.._ ... ... ..... .. _._.__-__.__.
<br />
|