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<br /> ' paymcnts may no lan�er bc rcquired,at thc option of I.endcr, if mortgagc insur.�►ncc covcrugc(in c.mou'�nt�1n or 1 criod . . ' '���•=
<br /> that I.endcr requires)provided by an insurcr approvcd by Lendcr aiguin becomes availablc.►nd is ohtained. Borrnwcr shall pay
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<br /> the prcmiums required to maintain mortgugc insurancc in cffcct.��r tu pmvid�a 1��ss resrrvc, until thc rcyuircmcnt for numgagc
<br /> insurance ends in uccordance with any�vritten agrccmcnt benvicen Borrowcr:md 1-.cndcr ar applicablc Inw.
<br /> 9. Inspectl�n. Lender or its agent may makc rcnsnnablc cntrics upon��nd inspcctions of d�c Prc�4xrty. L.cndcr shail giv�
<br /> � Borrower notice at the tlme of or prlor to an inspecHan specifying re�.sonable cause for ihe inspcctiar�. •
<br /> � 10.Candemnntion. Thc procc�:ds af any award or claim for damagcs, dircct or conscyucntial. in conncction wich anY �t _�
<br /> � condemnation ar other taking of any parc of�he Propeny,or fur convcyance in lieu of condemnation, are hereby nssigned and
<br /> shall be paid to Lender.
<br /> •. ` I In the event of n totul taking of the Propercy,the proceeds shall tx applied to the sums secured by this Security lnstcument, ,,';.x•;�,}.
<br /> ,...�w-�' whether or not then due, wtth any excess paid to Borrower. In the evcnt of a partial taking of thc Propeny in which thc fair ,,` :;�;::�'•
<br /> •• �"'° � market value of the Propeny immediacely befare the taking Is equal to or greater than the amaunt af the sums secured by chis �,�.� k}, .•,;�!
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<br /> � Secudty Instrument immcdia:ely bcfarc the taking, unless 8onowcr:►nd I..endcr othcrwise agrcc in wrtting. the sums sccured by , ,�.�__-.,—�
<br /> •' � th�s Securlty Instruinent shall bc reduced by thc amount af thc praceeds multiplied by the following fraction: (a) thc tatal ,,��:;•-_—��-
<br /> t amount of the sums secured immediatcly before the taking, divided by (b) the fair market valuc of thc Qroperty immcdi�tely yX;N,-�`=--'s""°'-�-
<br /> before the taking. Any balance shall be paid to Bonowcr. In the event af a parcial taking of the Properry in which the fair .._
<br /> markct value of thc Property Immediately before thc taking is Icss thnn the arnaunt of thc sums secured lmmediately beforc the •.�,:..�:"_.
<br /> ,i taking. unless Borrower and L,ender otherwise agree in writing or unless applicable law otherwise provides, the proceeds shal l ,.. 7 f:,,
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<br /> � be applied to the sums secured by this Seceiriry Instrument whether or not the sums are then duc. •.,,� _ __
<br /> � If the Property is abandoned by Borrower.or if,after notice by Lender co Borrower that the condemnor offers to make ux� :��_����__
<br /> award or sctdc a cluim for damages, B�nower fails to respond to Lcnder within 3U days afier thc date the notice is given, r_i.:�,.
<br /> � .. I.ender is authorized to collect and apply che praceeds,at its option, either ro restoration or repair of the Prapeny or co the sunis - �j;4��
<br /> secured by this Security Instntment,whetheror not then due. ' r:���--
<br /> Unless Lender and Bonower otherwise agree in writing, any application of proceeds to principal sha l l not extend or -.�.{,
<br /> �' postpone the due date of the monthly payinents refened to in paragraphs 1 and 2 or change the amount of such payments. ,y�r�rt
<br /> ' �. 11.Borrower Not Released; Forbearnnce By Lender Not u WuEver. Extcnsion of the timc for payment or modiCication ��"�.q. }_:
<br /> of amortization of the sums secured by this Securiry Instrument granted by Lender to any successor in interest uf Bonower shall ._�.
<br /> ' � not operate to release the liability of the original8anower or Bonower's successors in interest. l.ender shall not be required to ��;,,M1. `
<br /> commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization �t i. ,�
<br /> of the sums secured by this Securiry Instrument by reason of any demand made by the original Bonower or Borrower's --
<br /> � suaessors in interest. Any forbeazance by Lender in exercising any ri�ht or remedy shaU not be a waiver of or preclude tlte ,_�
<br /> - - - exercise of any rlght or remedy. iT-
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<br /> t. I2. Successors and Assigas Bound;Jotnt and Several LisbiNty; Co-signers. ihe covenancs and ag�catnents of thts :`--
<br /> `• Security Instrument shall bind and benefit the su�ssors and assigns of Lender and Borrower, subject [o the provisions uf �T
<br /> i paragraph 17. Bonower's covenants and agreements shall be joint and several. Any Bonower who co-signs this Security ., ,
<br /> ��:
<br /> �� Instrument but does not execute the Note:(a) is co•signing this Security Instrument oniy to mortgage, grant and convey that ,_
<br /> "�' Borrower's interest in the Propeny under the terms of th3s Security Instrument;(b)is not personally obligated[o pay the sui�s ,_;
<br /> �° secured by this Secur3ty Instrument;and �c)agrees that Lender and any other Bonower may agrce to extend, modify,forbcar or �.
<br /> # make any accommodations with regazd to the terms of this Securiry Instrument or the Note without that Borrower's consent. �:_
<br /> 13. Loan Charges.If the loan secured by this Security Instrument ts subject to a law which sets maaimum loan charges,
<br /> �" and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the
<br /> � �: ' toan exceed the permitted limits,then:(a)any such loan charge shall be reduced by the amount necessary[o reduce the chazge
<br /> to the permitted limit; and(b)any sums already collected from Bonower which exceeded permitted limits will be refunded to
<br /> �' Borrower. Lcnder may choose to make this refund by reducing the principal owcd under the Note or by mak{ng a direct
<br /> � � paymeat to Bonower. If a refund reduces pdncipal, the reduction will be treated as a parc[a1 prepayment without any -
<br /> pnpayment charge under the Note. - _
<br /> � . 14.Notices.Any notice to Bonower provided for in this Security Instrument shall be given by delivering it or by mailing k,__.
<br /> it by first class mail unless applicable law requires use of another rnethod.The notice shali be directed to the Property Address :_
<br /> or any other nddress Borcower designates by notice to Lender. Any notice to Lender shall be given by first class mail to �__
<br /> •� Lendet's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Y� -
<br />_ � Securi�y I►istrument shall be deemed to have been given to Bonower or Lender when givcn as provided in this paragraph. _
<br /> � 15. Govern[ng Law; Severability. This Securiry Instrument shall be govcmed by federal luw and thc law of thc h;��� .^
<br /> s jurisdiction in which the Propeny is loc:ated. In the event that any provision or clause of this Securiry lnstrument or the Note - �•;
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<br /> ' � contlicts with applicable law,such confl ict shall not affect other provisions of this Security Ins[rument or the Note which can be - T���';
<br /> • • given effect without the conflicting provision.To this end the provisions of this Security Instrument and the Note are deelared ,'�y`�:«
<br /> to be severablc. - � '
<br /> ! 16. Borrower's Copy. Bonower shall be given one conformed copy of thc Note and of this Security lnstrument. :•�i^
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<br /> >I Form 3028 � ., .
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