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<br /> � at the option o4 I.end�r, if mortguge inRUrancc coverage (in the amount and for the period that l.ender requires) I ' _
<br /> ' provided by an inaurar apprc�ved by I.ondar again become� available and is obtained. Borrower shall pay the premiums _
<br /> I required to maintain mortgnge ineuranco in ettect,or to provide a los.s reserve, until the requirement for mortgaga I '
<br /> jinsurance ends in accordance with any written agreement between Borrower and I.ender ar applicable law. CO
<br /> � 9.Iaspection. Lender or its agent m�y make reasonablo entri�upan and inspections of the Propecty.I.ender shall 00
<br /> i give Borrower nuticc at the tirt:c of or prior to an inepectinn epecifying reasonable cause tor the inspection. �`::.
<br /> j 10. Condemaation.The praceeda ot uny award or claim far demages,direct or conrequential,in conne�:cion with � „ _,r;�
<br /> - � any condemnation or other taking�f any �.art of the Propeny, or for conveyance in lieu of condemnation,are hereby � _
<br /> I assigned and ahall be paid ta I.ender. _;—
<br /> In the rvent at a total taking�f the Yroperty,the�proceeds ahall be applied to the surna secured by this Security �4:��
<br /> Inatrument,whether nr not then due,with any excess paid to Borrower.In the event o4 a partial taking of the Property in� , , , �: � _
<br /> � which the iair market value of the Propeny immediately before the taking is equal to or greater than the amount of the� .,_�_
<br /> lsume secured by thia Security Instrument immediately before the taking,unlcss Borrower and Lender otherwiso agree �: ,��_;_ _ ___
<br /> ! in writing,tha eums secured by this Security Instrumentahell be reduced by the amount of the proceeds multiplied by
<br /> ' ! the following fraction: (a) the totat amount of the auma secured immediately before the taking,divided by (b)the fair '"�-
<br /> market value o4 the Praperty immediately before the taking. Any balance shall be paid to Borrower. In the event of a _
<br /> �i partial taking of the Property in which the fair market value of the Property immediately before the taking is lrss than '�+,: _�
<br /> the amaunt ot the auma secured immediately before the taking,unless Borrower and I.ender otherwise a�ree in writing ,: ��...''
<br /> �� or unless applicabte law otherwise provides, the proceeda shall be applied to the sums secured by this Security
<br /> Inetrument whether or not the sums are then due. '�r•
<br /> tIf the Property is abandoned by Borrower,or if, attar notice by Lender to Bonower that the condemnor offers to
<br /> t make an award or settle a claim for damages, Borrower fnils to respond to Lender within 30 days after the date tha
<br /> � � notice is given,I.ender is authorized to collect and agply the proceeds,at ita option,either to restoration or repair ot the ���.;;�
<br /> Property or to the sums secured by this Security Instrument,whether or not then due. 1=j��=.
<br /> Unless Lender and Bortower otherwise agree in writing,any application of proceeds to principnl shall not axtend or ,,
<br /> poatpone the due date oi the monthly payme�its refened to in paragraphs 1 anc! 2 or change the amount af such �,�;_�'
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<br /> paymenta. K
<br /> 11. Horrower Not Released; Forbearr�nce By Lender Not a Walvcr. Bxtension of the time for payment or �y. ,
<br /> 4 modification of amortization of the sums secured by tDis Security Instrument granted by Lender to any successor in � __,___
<br /> interest of Borrower shall not operate to release the liability of the original Borrowor or Borrower's successors in ., ���
<br /> interest.I.ender shall not be requ�red to commence proceedings against any successor in interest or refuse to axtend .�,-
<br /> � time for payment or otherwise modiTy amottization of cho sum��ui�3 by ihis S�curit3 IrtstrumPnt hy rea.snn of any .�_
<br /> damand mnde by the original Borrawer or Borcower'sauccessors in interest.Any forbeatence by Lender in exercieing '�,Y�,
<br /> an right or remedy shaQ not be a waiver of or precluda the exercise of any right or remedy. „•-;-
<br /> ' y •Joint and Seversl Liability;Co-signers. The covenants and agreements '_°�
<br /> 12. Successors aad Assigus Bound, �:-�
<br /> of this Security Instrument ahall bind and benefit the successors and assigne of Lender and Bonower,subject to the i��*�«
<br /> provieiotu�of paragreph 17.II�rrower's covenants and agceements ahall be joint and severnl.Any Bonower who co-signs "�;:_:
<br /> �, this Secutity Inatrument but does not execute the Nou: (e) is co-signing this Security Inatrument only to mortgage, ,�-'
<br /> grant and convey that Borrower's interest in the Property under the terma of this Security Instrument; (b) is not �;,.
<br /> personally obligated to pay the sums secured by this Security Instrument;and (c) agrees that Lender and any other �
<br /> - Bonower may agree to extc+nd,modity,forbear or make any accommodatione with regard to the terms of thia Security
<br /> Instrumant or the Note without that Borrower's consent.
<br /> 13. Losn Charges. If the loan secured by this Security Instrument is subject to a lew which sets maximum loan =
<br /> , charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in _�
<br /> cor�nection with the loan axceed the permitted limits,then: (a) any such loan charge ehell be reduced by the amount
<br /> �� necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which �:,-,:
<br /> r exceeded permitted limits will be refunded to Borrower. Lender may chooss to make this retund by reducing the �'._-_::� .
<br /> � � principal owed under the Note or by making a direct payment to Borrower.If a refund reduces principal,the reduction .:I�—
<br /> '"� % will be treated as a partial prepayment without any prepayment charge under the IVOte. _
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<br /> 14. Notices.Any nouce to Borrower provided Yor in this Security Inatrument shall be given by delivering it ur by - ____ _
<br /> mailing it by first class mail unless applicable law requires use of another method.The notice shall be ditected w the
<br /> ' Propetty Address or any ather address Bonower designates by notice to Lender.Any notice to Lender shall be given by :'�_���^�,
<br /> � first c lass mai l to L en de r's address stated herein or any other address Lender designates by notice to Borcower.Any ..:.;`,� � j� • i
<br /> notice provided for in this Security Inatrument shall be deemed to have been given to Borrower or Lender when given � .�`:�.
<br /> � as provided in this paragraph. ����0 ' �
<br /> _ ,_ ��nm�.•
<br /> � 15. Governing Law;Sevsrability.This Security Instrumentshall be governed by federal law and the law of the � y`�.r :- • ;'•
<br /> jurisdiction in which the Prope�ty is located.In the event that any provision or clause of this Security Instrument or the 1 �,
<br /> Note conflicts with applicable 1aw,such conflict shall not atfect other pro�isions of this Security Instrument or the Note `�l;�j
<br /> � which can be given effect without the conflicting provisivn. To this end the provisions of this Security Instrument und
<br /> � the Note are declared to be severable.
<br /> 1 Form 3028 9/90
<br /> { . �+6R(NElrosu�.o� v�o.� oi a �n�t�als:
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