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<br /> • 7. Protection of Lender's Rights fn the Properry. If Borrower fails to pedorm the covenants and agreements Contak�ed In f.'
<br /> this Security Instrumen6 or there is a iegal proceeding that may sfpnifbflntly aHect Lender's riphts in the Property (such as a proc6ediny In ,
<br /> bnnkrupiCy, p�obnte, for condemnetion or (orfelture or to enlorce laws or reguietlons),then Lender may do and pay for whetever IS neCessary
<br /> to protect the value of Ihe Pruperty and Lender's rlghts h the Property. Lender'S sctbns may Include pay�g any sums secured by u Ilen �
<br /> which nas priarity over thls Security Instrument, appeariny In court, payln9 re9sonable attorney's fees and ontering on the Property to make
<br /> repalrs. Although Lender may teke acUon under thls parepraph 7,Lender Aoea not heve to do ao. _�'
<br /> Any emounts disbursdd by Lender under thls paragraph 7 shall become addltlonai debt of Borrower secured by tnls SeCUrqy In6tn�ment. �,_
<br /> Un�ess 8orrower and Lendar agree to other terms ot payment, these amounts shali bear Interest irom the date of disbursement at the Note
<br /> I rnta and shnll bo pnyablp, wilh interest,upon notbe irom Lender to Borrower requestl�g payment. , _
<br /> , 8. Mortgage (f18UfA11CC. If l.ender requlred mortqage insurance as a aandition of makinp the Ioan secured by this Security i
<br /> Instrument, 8orrower shail pay the premlums requlred to melntain the mortpape haurance In eHect. if, far any reason,the mortqeqe Insurance I
<br /> 4 coverage requUed by Lender lapses or ceases to be in eHeCt, Borrower shall pay the premiums requlred to obtain Cover�sge substant�aliy _
<br /> equlva�ent to the mortpage Insurance prevlously In aflect,at a cost substant�elly equlvalent to the cost to Barower of the mortyeqa Ir�suranca
<br /> prevfously in eNest, from an alternate moAgagd insurer approved by Lender. If substant�ally equNaient malgage �surance coveraye Is not f-�_
<br /> aveilab�e, Sorrower shall pay to Lender each month a sum aqual to one�twelkh of the yeariy mortgage Insurance premlum baMg paid by '._
<br /> Borrawer when the u�surance coverage Iapsed or ceased to be In eNect. Lender wlll accept, use and retain lhese payments as n loss ,I�
<br /> reserve In Iieu of mortgege insurance. Loss reserve payments may no bnqer be requked, at the uption of Lender, M mort886e InsurBnce
<br /> coveraga (In the amount and for the period that Lender requkes)provided by en ineurer approved by Lender agaln becomes evailabie and Is ' ��
<br /> obtafned. Borrower shall pay the premUms requVed to maintain mortgage insurance In ettect, or to provide a loss reserve, untll the :
<br /> � requirement for mortgage insurance ends in accordance with any written agreement between Borrower and Lender or appl�abb law.
<br /> � 9. Inspection. Lender or its agenl may make reasonable entrfes upon and inspectbns of the Property. Lender shall INe Borrower
<br /> � not�ce at lhe time of or prior to an inspcsction specifying reasonabte cause for the Inspectlon.
<br /> � 10. Condemnation. The proceeds of any award or cla�m for damages, dkect or cansequential, In connectbn with any
<br /> Q condemnat�an or other taking of any part of the Property, or for conveyanCe In Ileu of condemnetbn, are hereby asslgned and shall be pa�d
<br /> � to Lendar. �-
<br /> � ' In the event of a total taking ot tha Property, the proceeds sheli be applled to the sums secured by this Secur(ty Instrument, whether or ,;,;��
<br /> � not then due, with any excess pald to Barower. In the event of a partial t4king of the Property in whbh the fak market value of the Property
<br /> � immedlately betore the taking Is equal to or greater then the amount of the sums secured by thls Security Instrument Immedletety before the
<br /> � taking,unless Borcower and Lender olherw�se agree in writing, the sums seCUred by this Security In6tNment Shell be reduCed by the amount
<br /> ol the proceedc muRiplled by the followtng fraction: (a)the total arcrount the of sums saoured knmediately before the taking, dNidad by (b)the _�
<br /> feir market value of the Property knrnediately before the teking. Any balance shall be paid lo Bortower. In the event of a pertial takhfl of ths •�,,,,�
<br /> Property In whlch the fatr market value of the Property Irnmediatey before the taking Is less than the 3mount of the sums secured immedlately ,�:��
<br /> � before the taking,unless Borrower and Lender otherwise agree in wrfting or unless appi�abie law otherwise provides,the proceeds shaB b� .'�.f__
<br /> aDPI1ed to the sums secured by Ihis Security Instrument whether or not the aums are then due. r^n�lamnor oHers to meke an nward or settle �-�"
<br /> � If the Properly is abandonetl by kiorrower,or rf,aHar nviicn i,r Lerdar tC 8crron:sx thst the __ _. �___-
<br /> a claim for damages, Borrowor fails to respond to Lender withln 30 days aker the date the not�e Is gNan,lentler Is authorized to colieot and
<br /> apply the proceeds, at its option, either to restoratbn or repak of the Property or to the sums secured by this Security InstNment,whether
<br /> or not then due. =— -
<br /> Unless Lender and Borrower otherwise agree in writing, any applicfltlon of proaeeds lo princfpal shaU rtot eztend or postpone the due
<br /> dete of the monthly peyments referred to in paragraphs 1 and 2 or chenge the amount of suCh payments.
<br /> 11. Borrower Not Released:Forbearance By Lender Not e Waiver. Factension of tne tkne for payment or modif�atbn _ _
<br /> of amorti�stion of the sums secured by thls Security Instrument granted by Londer to any euccessor in inlerest of Borrower shall not operate - --
<br /> • to release the i�abiiity ot the orighai Borrower or Borrowers sucCessors h hterest. Lender shell not be requked to commence proceedinqs ,�: �•;;"°
<br /> ' egainst any succsssor in inte�est or refu6e to extend time for payment or otherwise modily amoAlzation of the sums secured by thls Securky ti
<br /> � instrument by reason ot any demand rnade by the ortglnal Bortower or Bortower's successore h htere6t. My lorbearance by l.ender In
<br /> exercising any riyht or remedy Shell not be a walver of or preClude the BxerCiSe ot 8ny right Or remedy.
<br /> � 12. Successors and Assig�s 8ound; Joint end Severel Ltability; Co-aignere�. The covenants and apreementa of r..:�,
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<br /> ' Ihis Security Instrument shall bind and benefit the successors nnd assigns of Lender and Bortower,sub�eCt to the provislans of parapraph
<br /> I7. Borrower's covenants and agreements shall be j0i�t and severfll. My Borrower who co•S�pns this SeCUrity Instrument but does not ,�
<br /> • execule the Note: (a)is co•s�gning this Security Instrument only to mortgago,grant, and convey that Borrower's (nterest In the PropeRy undet , '�—
<br /> � Ihe terms o�thfs Secunty Inst�ument;(b)is not personaliy obligated to pay the sums secured by this SeCU�ky Instrument; and(C)aprees that ___
<br /> _ ��. Lender and any other Borrower may agree to extend, modify, forbear or make any accommadatlons wilh regard to terms of this SeCUrity _.-__ _
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<br />- _.� Instrument or the Note without that Borrower'S COnsent. - ,.���- --
<br /> 13. Loan Chargea. If the ban secured by this Security Instrument Is subJect to a iaw wh�h sels meximum ioan charges,and that .
<br />- � �aw is tinaNy Interpreted so thet the inlerest or other loan charqes collected ar to be coliected In connection with the loan exceetl the =___ ,
<br /> Dermiltod limlts,Ihen; (a) any suCh loan charges shell be roduCed by the am0unt neCessnry to rqduCe the Charge to the pe��tted Ilmih and
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<br /> (b) any sums aueady col�ected trom Borrower wh�h exceeded permiried Iimits wlll be refunded to Borrower. Lender may choose to make 'y`u ,���
<br /> 1h�s refund by reduc�g tne princfpal owod under the Note or by making a direCt payment to Borrower. If a refund reduCes principei, the ,�r'.���'��,
<br />- reduction will be treated es a partial prepeyment wRhout any prepayment chtirge under the Note. -
<br /> . 14. Notices. Any notfce to Borrower provided for fn this Security Instrument ahall be given by delfvering it or by malling it by first
<br /> �Inss meil unless apDlicable �aw roquires use of another rtiethod. The nOtiCe sliall be d�reCted to the Property Address or any other addreSS � ^
<br /> 8orrower designates by notice to Lende�. Any notice to Lender shall be given by fKSt class mail to Lender's address stated hereln or eny ..
<br /> � other address Lender des�gnates by notice to Borrower. Any not�e prov�ded for in this SeCUrity Instrument shflll be deemed to heve been
<br /> given to Borrower or Lender when given as provided in this partigreph. .
<br /> 15. Govern(ng Law; Severability. This SeCUrity Instrument sholl be governed by �����•�al 18w and thio Itiw Of the jurlsd�tlon �n
<br /> • which the Property is loCated. In the event that sny provislon or clause of this Security Instrument or the Note Contl�Cts with epp��able law,
<br /> such confi�ct shpll not aHect other provisions of this Security Instrument or the Note wh�h cnn be gNen effoct without the confl�tiny
<br /> prows�on. To this end the provisions o�ihis Security instrument and the Note are declared to be severab!e.
<br /> 16. Borrower's Copy. Borrower shall be given ono conformed copy of the Note and ot thiS 5ecurity Instrument.
<br /> _ n�....s�..�e� �.,�e.ee� in Rnrrnwpr. If all or anv oad of the Property or any Intere5t in _ _
<br /> - 7/. IfiiflSTef Oi ii1C �ia�rNci iy v7 a vc.w........ ............ ..• --'-- - . r .�-_--- -
<br /> a is sold or translerred (or if e beneficr�l interest in Borrower is sold or transierred and Borrower IS no1 a natural person)without Lenders I
<br /> _ , prror wniten consenl, I.ender may. el i15 option, requke �nmediate paymgnt in full ol All sums secured by thfs SeCUrity Instrument. However, I
<br /> �n�s option shall not be exerc�5ed by Lander �I exerc�se is prohibiled by�ederal law as of Ihe dale of this Security �nstrument. I
<br /> H Lender exerCises ihis opt�on, Lender shall gne BOrrOwer not�ce of eccele�ation. The not�ce shall provide a pe�lod o�not less than 30
<br /> , days irom ihe dnte lhe noUCe �s dehve�ed o� me�led wfihin whiCh the Borrower must pey eA sums SeCUred by this SeCUrdy InStNment. if
<br /> Borrower la�ls to pay these sums prfor lo the expiratlon of thls perlod,Lendor may �nvoke any remedles permitted by this Security Instrument
<br /> without �uhher notice o�demand on Bo«ower. �
<br /> Fo�m �020 9/90
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