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<br /> payment�may no longer be required.at the option of I.ender, if mangage iawrance c:rn•crsge 1 in��ount and for the period : � . -
<br /> �hat Lender reyu�res►provided by an in�urer appmved by Lender again bccomec av;vluble:ued i�obtained. Borma•er shall pay • • � ,�
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<br />. the premium,rcyuired to maintain mongage insuran��e in effect.or to pro�•ide a lo,.resen�e,until the rcyuimment fnr martgage �.� . ., �°
<br /> incunuice endc in accc�rdance with any watten a�reement between Borroa•er:�d Lende�or applicable law. ,. . ' f ; ; ; ;
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<br /> 9. I n s p e c 4 ton. Lender or its a gent ma y make reasonable emrie+ upon and iaspec�cicm.ti of the Property.Ix:nder shall give • �� • :� -�� -��
<br /> Borrouer notice at the time of or prior to an inspertion specifying reasonahle�ause for the intipection. �'�h' .
<br /> 10. Condemnation. The praceeds of any a�tiard or claim for damage�, dir���t or con.eyuential, in conn��tion ��ith any __ -_`
<br /> J condemnation or other taking uf:ury p�art of che Pmpertp.nr far convey:uu'e in lieu of cundcmnation, are herehy a+signed nnd ' � •
<br /> shall 6e paid to Lender. . . � � � ••�
<br /> In the event of a total taking of the Property�.the proceeds shall be applied w the tiurtu�ecurtxi by this Security Instrument. . - � : ,
<br /> whether ar not then due. with any excess paid to Borrower. to the evrnt of s partial taking of the Property in whieh the fair y:�; ,;,.r. .�,��r.:.�
<br />�� 1 marlce[value of the Property immediately befom the taking is equal to or greater than the amount of the sums secumi by this .���;�,,,;�,�;�
<br /> 3 Security Irotrument immediately before the taking,unle�s Borrower and I.ender othenvise a�rce in�vriting, the sums��ureci by '.. "�"'�`�"�'�',�: --
<br /> � , ....�,�.�
<br /> �� this Secuaity Inswment shall be reduced by.the amount of the proceeds rnultiplied by the following fraaion: �a) the total ` "�•=�..��:..�.��3'��`
<br /> •"�`=�=n
<br /> � amount of the sums secured immedistely before the taking. divided by Ib) the fair market value of the Property immediately -,�� - =-_-_-------
<br /> before the taking. Any balance shall be paid to Borrower_ !n the event of a partial takinb of the Property in which the fair ��"r�'�"�"�-
<br /> - :.,,�-.,,�::__.,r_._
<br /> ' , market value of the Property immediately befarc the taking is less than the amount af the sums secured immediately before the = ��� :� r,;�
<br /> ' taking,unless Borrocver and Lender othenvise agree in writing or unlL�ss applicable!aw othenvise provides,the proceeds shall ` �^�-�'�
<br /> ��> be applied to ehe sums secured by this Security Inswment whether or not the sums are then due. �'��;.�� ..."�'�'.
<br /> ..:; " ` '
<br /> ; ff the Property is abandone�by Borrower,or if,after notice by Lendzr to Borrower that the condemnor offers to make an � -_
<br /> ..3
<br /> award or settle a claim for damages. Horrower fails to respond to Lender within 30 days after the date the notice is given. ~' ---
<br /> � =� Lender is autttorized to wllect and apply the proce�ds,at its option,either to restoration or repair of the Property ar to the sums ��,ef_�_`'�� .
<br /> �' secured by this Securiry Instrument,whether or rtot then dae. 'I� ` -�-•
<br /> .t Unless Lender and Borrower othenvise agree in writing, any application of proceeds to principal shall not extend or _ •-f:,�"-_
<br /> � � postpone the due date of the monthly payments referred to in paragraPhs 1 and 2 or change the amount of suchpayments. -,.,,�g�� • :,, �`;`
<br /> � 11.Borrower Not Released;Forbearauce By Lender Nflt a Walver. Extension of the time fur payment or modifiration � --
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<br /> � of a�nom7ation of the sums secured by this Seci:sity Instrument granted by Lender to any successor in inrerest of Borrower shall 5_ ;•-,
<br /> ��,� not operate to release the liability of the arigena{Borrower or Borrower's successors in interest.l.ender shall not be required to � •
<br /> . F • �::�. ,
<br /> commence proteedings against a+my successor in interest or refuse to extend time for payment or otherwise rnodify amortization
<br /> of the sums secured b this �erity insdument by reason of any demand made by the original Borrou�er ar Borrower's �`��� • .
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<br /> •= successors in inte�s:. Any foibearance by Lender in ezercising any right or remedy shall not be a waiver of or preclude the - . ::._
<br /> 4 exercise af any right or remedy. �!.'.#•� '�'
<br /> 12, gucc�sats anel �S.y s Hound; Joint and Seb¢��ul Liubiitty; Co-stgners. The covenants and agreements of this ..i�?.,•= _
<br /> ...), ,
<br /> r� S°,.�ctiCy ansirument shall binca aQed benefit the successors 3nd assigns of I.ender and Borrower, subject to the provisions of -'-'�-:�
<br /> z pa.�aph 17. Bo�sower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Sxuriry ,,.",, �=���."�
<br /> '° � instrnment but d�s not execute the Note: (a)is oo-signing this Securiry Insmtment only to martgage, grant and convey that ;��:�?f�`r• ,. �•
<br /> � Borrower's inse:�in the Property under the terms of this Security Instrument;(b)is not personally obligatad to pay the sums ``'��,-4ti,p.,, �' �
<br /> ' sec�a:-ed by this S�.vriry instrument:azed(c)agrces that L.ender and any other Borrower may agee to eatend.modify.�orbear or '� �� . .
<br /> ��� m�:any accommodations with cegard to the terms of this Security instrument or the Note without that Borrower's co.nsent.
<br /> "�` _—
<br /> ,[� 13. Loan C�a�es. If the loan secaued by this SPCUrity Insuument is subject to a law which sets maximum loan charges, ' • , �"`'
<br /> �� and that law is�-:::.ly interpreted so that the interest or other loan chazges collected or to be collected in connection with the
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<br /> loan eaeeed the p�itted limiu, then: (a)any such loan charge shall be reduced by the amount necessary to reduce the chasge •��<. � � ���?� ��
<br /> �.� °t"'.�;:�,�.
<br /> to t�'he permitted limit;and(b)any sums already oollected from Borrower whicb exceeded pemtiaed limits will be refunded to L• �,
<br /> { . Bum;�uer. Lender may choose tn make this refund by reducing the principal owed under the Note or by making a direct ����� `�"�`'
<br /> : ,{ pa�~:�:�t to I3onower. If a rafimd reduces principal, the reduction will be treated as a partial prepayment without any •`-R ______{� __
<br /> � ' prepayment charge under the Note. �� --
<br /> •i. 14.1Votices.Any notice to Borrower grovided for in this Security Instrument shall be given by delivering it or by mailing a��^�•_
<br /> • # it by first class mail unless xg�'icable law requires use of another method. The notice shall be directed to the Property Address �,,.,,�,�;._:. . -
<br /> .•_f or ar.y other address Borro�:��� designates by notice to Lender. Any notice to Lender shall be given by first class mail ro ��ar°=-°-�--���-
<br /> f L.erJaei s address stated her.:::+ �r any other address Lender designates by notice ta Borrower. Any notice provided for in this _: _�
<br /> Securi instrument shall be deemed to have been iven to Borrower or Leader when given as provided in this Qaragraph. �'°''`"s"��'°� '
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<br /> ty E h��[;�3i�._—T*a'"`,.�..s„_.
<br /> IS.Governing l,e�v; Severab111ty. This Security Instrument s�al be govemed by federal law and the law of the �-=T=�=7=-'=__
<br /> juri�:iction in which the Properiy is located. In the event tlhat any provision or clause of this Secarity Instrument or the Note = -ti=--=�
<br /> • cczti�cts with applicabte law.�cfi wnflict shall not affect c��1er provisions of this Security Instrument or the Note cvhich can be � � '�""""'�'`` '�
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<br /> � gio�;,n effect without the cor�s�eng pravision.To this en�the pruvisions of this Se�riry Instn�ment tind the I�i�tt ase declared ' �L�.=_ ..W .,,
<br /> to be severable. ~S�.;e-�:����.-
<br /> 16.Borrowet's Copy.Bonower shall be glven nne conformed copy of the Note and of this Security instrument. ��,!��:
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<br /> Form 3028 9/90 �` i ��
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