|
i
<br /> . �
<br /> �
<br /> � {�aym98mu�''h����r'bt�reqiiircd, at�hc aplion af l.cndcr, if martgagc insurancc covcragc(in ihc amount and for thc period
<br /> ihat l.cnder rcquires)providcd by an insurcr approvcd by Lcndcr again tsccomes availnblc and is aUtsuned.Horrowcr shall puy thc
<br /> " � premiums requircd ta maintnin martgage insurance in eCfect, or to provide a lass reserve,undl the requirement f�r mangage
<br /> � � insurancc cnds in accardancc with any written agrecmcnt hetwcen I3orrowcr and I.cndcr or applicublc law. , _
<br /> { 9.Inspection. L.cnder or its agent may makc rcusonablc cntrics upon and inspacpons o!ihc Praperty. Lcndcr shull givc —
<br /> � Borrowcr noticc at thc timc of or prior W an inspectian spcci[ying rcasonablc causc for thc inspcction.
<br /> 10.Condemnation. 1Thc�r���o�c�o�ny or�f conveyance in licu�of condemnation,arc hcrebytlassigncd and
<br /> condemnadon or othcr tak g Y P
<br /> shall bc paid to L.endcr.
<br /> In the event of a total taking of thc Property,the procccds shall bc applied to the sums secured by this Sccurily Instrument, _
<br /> whether or not thcn duc,with anY cxcess paid to Borrowcr.In the event of a partial takinB of thc Property in which thc fair market
<br /> • value of the Property immcdiatcly befac the taking is ec{ual to or greater ihan the amount of the sums sccured by this Security --
<br /> Instrument immediately before thc taking, unless Bottower and Lcnder otherwise agree in writing, the sums secured by this
<br /> ', Security Instrument shall be reduced by the amount of ihe proceeds muluplied by ihe following fracdon: (a)the Wtal amount of •-
<br /> ; thc sums sccured immcciiately bcforc the taking. divide@ by (b) thc fair markct value�f thc Property immcdiately beforc the �
<br /> . i taking.Any balancc shall bc paid to Bortower.In the cvcnt of a partiel taking of thc Property in which the fair market value of the I -
<br /> ' ! Property immediately before the taking is less than thc amount of the sums secured immediately beforc thc taking, unlcss
<br /> Borrower and Lender othenvise agree in writir►�or unless applicable law othenvise providcs,the procceds shall be applitd to the _
<br /> sums secured by this Sccuriry Instrument whcther or not the sums are then due.
<br /> ' If thc Property is abandoned by Borrower,or if,ufter nouce by Lender to Borrower that the condemnor o(fers to makc an
<br /> ' � award or seUle a claim far damages,Borrowcr fails to respond to Lcnder within 30 days after the date the notice is given,Lcnder
<br /> � � is suthoriT.ed to collect and apply the proceeds,at its option,either to restoration or repair of the Properry or ta�he sums secured _-
<br /> • by this Security Instrument,whether or not ihen dua .-�
<br /> Unless Lender and Boaower otherwise agree in writing,anY application of praceecls to principal shall not eatend or postpone
<br /> ` the due date of the monthly payments referred to in paraBraphs 1 and 2 or change the amount of such paymenis. �;;���_
<br /> '� . 11.Borrower Not Released;Forbearanee By Lender Nat a Waiver. Extension of the dmc for payment or modificauon �- .
<br /> of amortization of the sums secured by this Security Instrument granted bY 1.cnder to any successor in interest of Borrower shaU ;::.
<br /> i
<br /> - not operate to rciease ihe tiabilii.y uf tt�a original Botro::�r.r or Bon�W�r'c cucccssors in interesG Lender shall not be required to __
<br /> t commence proceedings against any suaessor in interrst or refuse co extend time for payment or otherwise modify amortizadon of �_
<br /> ' the sums secured by this Security Insuument by reason of any demand made by the original Borrower or Bonower's successors �oq r-
<br /> t '"
<br /> ; in inceresG My forbcarance by Lcndcr in excrcising any right or remedy shall not be a waiver of or precludc the cxcrcise of any �ti;;:
<br /> � right or rcmedy. ����
<br /> �2.Successors and Assignc Baund;Joint and Several Liability; Co•signers.The covenants and agreements of this *;.-.
<br /> Security Instrument shall bind and benefit the successors and assigns of I.ender and Borrower, subject to thc provisions of ,
<br /> I paragraph 17. Boaower's covenants and aBreements shall be joint and several. Any Borrower who co-signs Ihis Sectuity ` �
<br /> Instrument but does not execute the Note: (a) is co•signing this Securiry Instrument only to mortgage, grant and convey that �:� _._
<br /> � Borrower's intcrest in the Property under the terms of this Securiry Instrument; (b) is not personaUy obligated to pay ihe sums �-_._;,.- -
<br /> sce�ued by this Secwity Instrument; and (c)agn:es that Lender and any other Borrower may agree co extend.modify,forbcar or �
<br /> , make any accommodations with regazd to the terms oi this Security Instrument or the Note without that Borrower's consenG �'''-'_�"'�"
<br /> . 13.Loan Char�es. If the loan secured by t1►is Security Instrument is subject to a law which sets maximum loan chazges, ����
<br /> and that law is finally intcrpretcd so that the interest ar other loan charges collected or to bc collected in connection with 1he loan - _,�
<br /> . , exceed the permitted limits,then:(a)any such loan charge shall be reduced by the amount necessary to reduce the charge to the �'.sY�=`Y
<br /> , t permiued limit;and(b)any sums already collected fmm Borcower which exceeded permitted limits will be refunded to Borrower. •.q,�n;,;:�_- -
<br /> • A u��iu���
<br /> '" ' Lender may choose to make this retund by rcducing thc principal owed under thc Note or by making a direct payment to ; :.����}
<br /> � Bonower. If a refu�d reduces principal. the reducuon will be treated ac a partial prepayment without any prepayment charge __ ____ _
<br /> '� undcr thc Note. �'""�°'"°���'`'
<br /> �; 14.Nottces. Any nodce to Borrower provided for in this Security Instrurr�ent shall be given by delivering it or by mailing it _
<br /> by fust class mail uuless Applicablc law rcquirr.s use of another method.The notice shall be directed to the Property Address or � ;:;,,���,
<br /> I any other address Borrowcr designaus by notice to Lender. Any nouce to Lendcr shall be givcn by first class mail to Lender's ,.. ;;,-•--�;.,,:,,;: ,
<br /> address stated herein or any other address Lender designates by notice to Borrower.Any notice provided for in ihis Securiry � ��'�-�
<br /> IInstrument shall be deemcd to have bcen given to Borcowcr or Lender when given as provideci in this paragraph,
<br /> � 15.Governing Law;Severability. This Sccurity Inswment shall bc govcrncd by fcderal law and thc law of thc
<br />-- �. jurisdicuon in which the Property is locatcd. In tt�c evcnt that any provision or clause of this Sccurity Insuument or thc Note - .
<br /> contlicts with appliatble law,such conflict shall not affect other provisions of this Security Instrument or the Note which can be
<br /> given cffcct without the conflicting provision.To this cnd thc provisions of this Security Inswment and the Note are dcclared to
<br /> - be severable.
<br />_ Form 3028 9/90 f'
<br /> aago a o�e imuaie: � .
<br />_ �•8H(NE)�s2+21.0+ ' I
<br /> �
<br />�..
<br />�
<br /> .
<br /> � --1 _ —
<br />
|