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<br /> � paynun�s may na loaRer be reyuired,at the apttan af Lender,if niortgage iasunuue coveruge(in the umount xnd for the pedod � __
<br /> ' tl�tt Lendet requlre9)provided by a�i inr-urer approved by LCUder xguiu t�rcuniey av�ilaUlc uud is ubu►ined. Borrawer sl�all pay _
<br /> I tbe premtua�s required to maintaia mortgage jasurunce Ia effect,or to provlde a loss reserve,until the requlremeat far mortgage�,p �:
<br /> � -"'�' ins�urauce ends in acwrdaace with any wdtten agreement between Borrower and Lender or appllcable law. � '�
<br /> �"`�� 9. Ir►spedlon. I.ender ar its agent may make reasonable enuies upon and lnspecdons of the Praperty. L,ender shall give J :�;�`
<br /> � Borrawer nodce at tbe daie of or prlor to an inspecdan speclfyIng masonable cause far the inspecdon. �;'
<br /> 10.Condemnatlon. The procceds af any award or clalm for dacuages, direct or consequential, in connecdon with any� .',4:�
<br /> condemnadon or other taldng of auy pact of the Property,ar for couveyuuc:e iu Ileu of condemnadon. are bereby assigned andQ _ _
<br /> shall be puid to Lender. � " ��:
<br /> Ia the event of a total taking of the Property,tbe proceeds shall be applied to the sums secured by tUis Securlty Insuument,� '��
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<br /> whether or not thea due, wItli any excess paid to Banower. In the event of a partlal taidng of the Property in which the fai�iD �,s,�:
<br /> � ,aarket value of the Propem�irnmedixtely before the taking Is equal to ar greater thun the amount of the sums securpd by thls �3'-
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<br /> Secudty Iasmrraent immediately before the taldng,unless Bonower aixl Lender otherwise agree ia wtidng, the sums secured by -.�
<br /> thls Securlty Instiument shall be reduced by the amuunt of the proceeds muldplied by the fallowing fracdon: (a)the total _._
<br /> amount of the sums secuted immediately before the taking, divided by (b) tht fair market value of the Property Immediately
<br /> • before tl�a taldng. Any balance shall be paid to Borrovc+ex. In the event of a partial taldag of the Property in which the fair --
<br /> '. market value of the Property immediately before the taking is less than the amount of the svms secured Icumediately befon the -__
<br /> taking, unless Borrower and L.ender otherwi�e agree in wridng or unless applic:able law otherwise provides, the proceeds shaU -
<br /> �• be applied to the swna secureci by this�ecurity Instrument whether or pot the swns are then due. -"_
<br /> [f the Properry is abandoved by Bonower. or If,after nodce by Leuder ro Bonower thnt We condemnor offers to make an
<br /> '�, award or setde a clatm for daznages, Borrower fails to respond to Lender witl�in 30 days after the date the nodce Is given, •
<br /> Lender is authorized ta collect and apply the proceeds,at its opdon, eith�r to restoradon or repair of the Property or to the sums
<br /> secwed Ly thls Securlty Ipsuurnent,whether or ttot then due. _
<br /> � Unless Lender and Borrower otherwlse agree lu wridag. uny applicadon of proceeds to principat shall not extend or
<br /> postpone the due date of the monthly payments referred to itt paragraphs 1 and 2 or change the amount of such payments.
<br /> 11.Borrower Not Rcleased;Forbearance By L.ender Not a Watver.Bxtenslon of she dme ior paymeat or maditicadon
<br /> of amord�atioa of the sums secured by thls Security Instniment granted by Leader tu any successor in inter�st of Horrower shall �j,..�
<br /> not a rate to release ttte liability of thr orlginal Borrower or Bonower's successors in iaterest. Lender shall not be reyuired w ��-;_�
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<br /> �� commence proceed3nIIs against any successor in interest or refuse to extend tlme for payment or otherwIse modify aznortization ��.
<br /> of the sums secured by this SecurIry Instivment by reason of any demand made by tlie orlginal Borrower or Borrower's �
<br /> succasors in iaterest. Any forbearaace by Lender In exercisiag aay rigbt or remedy shall not be a waiver of or preclude the ����
<br /> exenise of any rtght or remedy. �„�,
<br /> 1Z.Succcssors and Assigns Bound; Joint and Severai Llabtlity; Co-sig�ers. The covenants aud agreemr.nts of this �- °r
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<br /> Security Iasuuraent shall bind and benefit the successors and asslgns of L.ender and Bonawer, subject to tbe provleloas of i�_
<br /> paragraph 17. Borrower's covenants and agree�enu shall be joint and several. Any Borrower who co-signs this Securlty
<br /> Instnunent buc does not execute the Note: (a) is co-signin�; this Security Instrument only to mortgage, grant aad caonvey that ��
<br /> Bocmwer's interest in the Propeny under the tern�s of tliis Securlry insm�ment;(b)is not personally obligated to pay the svms --
<br /> secured by tliis Securlry Insaument;and(c}agrees that Lender and any other Borrower may agree to eactend,madify, forbear or E_�_
<br /> malce any accommodations wiW regard to the terms of this Security Instrumeat or the Note without that Bonower's consent. ��:_—
<br /> ' 13.Loan Charges. If the loan secur�d by this Securiry[asaument ts avbject to a law which sets maaunwn loan charges, �'' -
<br /> _ and t6at law is finally inrerpreted so that the interest or other loan charges collected or to be collected in connecdon wlth the —
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<br /> loaneaceed the pemutced limits,thea: (a) any such loan charge shall be reduced by tbe amount necessary to reduce the cl�arge -
<br /> - , ro the permitted limit; and(b) any sums already collected from Horrower which eaceeded permitted 1jmi4�will be refunded to �_;•`
<br /> - � Sorrower. Lender mny cuoose to wake tlus refund by reduciag the principal owed under the Note or by ma3dng a dtrect —
<br /> payment to Botrower. If a refund reduces principal, the reducdon will be ueated as a partial prepayment without any ���'"
<br /> re a eat char e under the Note. � '� ���
<br /> � P P Y� S �=-'
<br />- I 14.Notices.Any uotice to Borrower provided for in this Security Instn►ment shall be given by delivering it or by mailinII �'�v_r
<br /> _ it by first class mail unless applicable law mquires use of another method. The uotice shall be dlrected to the Properry Address
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<br /> or any other address Borrower designates by notice tn Lender. Any notice to Lxnder shall be given by first class mail to - -'
<br /> _ Lender's address stated herein or any other adciress Lxnder desifiaares by nodce to Borrower. Any nopce provided for in this `'���, ��
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<br /> Securiry Instr�ment sh�ll be dermed to have been given to Borrower or Ixnder when given as provided in ttus paragraph.
<br /> 1 15.Governing Law; Severabtlity. Tlus Securlty Instrument shall be governed by fedecal law and the law of the
<br /> � jurisdiction in which the Propeny is located. In the event that �ny provision vr clause of this Security Insctument or the Note
<br />— conflicts with applicable law, snch conflict shall not affect other provision�of this Security Insuument or the Note which can be
<br /> , given effect widiout the conflicting provision. To this end the provisions of this Securiry Instrument and the Note are declared
<br /> to be severxble. �
<br /> - � 16.Borrower's Copy.Barrower shall be given one conforn�ed copy of the Note and of this Security Instrument. �
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<br /> , Form 3028 9/90 � �
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