|
�:
<br /> �
<br /> �
<br /> � i �.
<br /> � gg-- :�s►123� � � �
<br /> paymcnts may no longer be requircd,at the opuon of Lcnder,if mongagc insnrartce coverage(it� the amount and far the period � �-
<br /> that I.endcr n;quires)provided by en insurcr approved by L,endcr again t�ecomes available and is obtained.Bonower shall pay thc , -
<br /> i premiums rcquired to maintain mortgage insurancc in cffect,or w provide a loss reservc, until thc requirement for mongage �
<br /> insurancc cnds in accardence with any wriucn agreement bctwccn Borrower and Lender or applicable law.
<br /> � 9.InspecNon. Lender or its agent may make reasonable enlrics upon and inspecaons of thc Propercy.Lendcr shall givc
<br /> i Borrower nodce at the time of or prior to an inspection specifyin�reasonable cause for the inspecuan. _
<br /> ; 10.Condemnation. The pracceds of any award or cleim for damages, direct or consequential, in connecpon with any
<br /> ' condemnation or othcr taking af any part of the Property, or far conveyancc in licu of condcmnadon,are hacby assigned and
<br /> j shall be paid to L.cndcr. '
<br /> In the cvcnt of a total takin� of the Prnperry, thc proceeds shall be applied to the sums secured by this Sceurity Instrumcnt, �:_:,�;,�
<br /> . whethcr or not then duc,with any exccss paid to Soerower.In the event of a partial taking of thc Property in which the fair markct �'�",^r:
<br /> ' value of the Property immediately beforc the takir�g is equal to or greater than thc amount of the sums secured by this Security �k st:--,
<br /> Instrument immcdiately bcfore thc takin�, unless Borrowcr and Lcnder otherwise agrce in writing, thc sums secured by diis �~-- �
<br /> , Security Instrument shall be reduced by die amount af the proceeds multiplied by the follawing fraction:(a) Ihe total amount of
<br /> thc sums sccured immediately before the taking, divided by(b) the fair market value of tt�e Propert}r immediately beCore the
<br /> i u�lcing.Any balancc shaU be paid to Bonower.In thecvcnt of a partial taking of thc Property in which the fair markct value of thc j
<br /> Property immediately before the taking is less tha� the amount of thc sums sccured immediately before the taking, unless �
<br /> ' Borrowcr and Lender otherwisc agrec in writing or unless applicable lav✓othcrwisc provides,the procceds shall be appGed to the ��
<br /> � sums secured by this Security Instrument whether or not thc sums are then duc.
<br /> If the Property is abandoned by Borrower,or if,aftcr notice by Lender to Borrower that the condemnor offers to make an
<br /> � award or settic a claim for damages,Borrower fails w respond to Lcnder within 30 days aftcr thc datc thc notice is givcn,Lcnder �
<br /> is authorized to collect and apply thc procccds,at its option.either to reswradon or rcpair of the Property or W thc sums secured
<br /> � by this Security Instrument,whether or not then due. k�,
<br /> � Unless I.ender and Borrower otherwisc agrce in writing, any application of procceds to principal shall not cxtend ar postp�ne ;!�'
<br /> the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. � Y.�. �t;,-�-
<br /> !!.Borzos�er Mot P.tlr,�ed:Forts:srsn�.°B, l.eQ�er*?ot»Y!�sir�r. Extcnsian of thc timc for psyrrsr.nt ar mcdificatian - �.�:�, ``�
<br /> � of amortizadon of thc sums securcd b this Securit Instrument �E' �`%� � '
<br /> � y y granted by Lender to any successor in interest of Borrower shall �;Y�•
<br /> not operate to aclease the liability of the original Borrowcr or Borrower's successors in interesG L.ender shall not be required to ''�X
<br /> i commence proceedings against any successor in intemst or refuse to extend time for paymcnt or otherwise modify amorti�ation of n �`• ,: :
<br /> � the sums secured by this Security Instrument by r�ason o[any demand made by the originul Borrower or Borrower's successors �:;
<br /> i in interesG My forbearance by L.ender in exercising eny right or remedy shall not be a waiver of or preclude �he exercise of any ' •�
<br /> right or remedy.
<br /> "f...� r �
<br /> i 12.Successors and Assigns Bound;Joint and Several Ltability;Co•signers. The covenants and agrccmcnts of this
<br /> ' ' Security Instrument shall bind and benefit the sucussors and assigns of I.ender and Borrower, subject to�he provisions of �'���
<br /> ; paragraph 17. Borrowcr's covenants and agrccmen� shall bc joint and severel. My Borrower who co-signs this Sccurity •�'_
<br /> , Instrument but does not execute the Note: (a) is casigning this Security Insh�ument only to mortgage,grant and convey that •�- -
<br /> Borrowcr's interest in thc Property undcr the tcrtns ot this Security Inswment; (b) is not personally obligated to pay the sums "'�`'�"��
<br /> � . -.�ti,:
<br /> secured by this Sccurity Instrumcnr and(c)agrces that Lender end any other Borrower may agrce to extend,modify,forbear or `.�_
<br /> make any accommadations with rcgard to thc terms of�his Security Instrumcnt or the I+lote without that Borrower's wnsen� �L*-5l��-
<br /> 13.Loan Charges. If thc laan secured by this Security Instrument is subjcct to a law which sets maximum loan charges, ' �
<br /> .;;�"�::.�=.
<br /> and that law is finally interpreted so that thc intemst ar other loan charges collected or to be collcctcd in wnnecuon with the loan '�`��;=
<br /> exceed the permiued limits,then: (a)any such loan charge shall be reduced by the amount necessary to reduce the charge to the ' H�1`
<br /> ;.;,�.
<br /> rmitted Gmit;and(b)any sums alrcad collected Fran Borrower which exceeded • '"'�"
<br /> pe Y permiued limits will be refunded to Borrowcr. :::.�,�__._._.
<br /> Lender may choose to make this refund by reducing the principal owcd under the Notc or by making a direct payment to =_
<br /> � Borrowcr. If a refund reduces principal, thc rcducdon will be ireated as a partial prcpayment without any prcpayment charge � � -�
<br /> undcr the Notc. .�'..�'`�'9� '
<br /> � 14.Nottces. Any notice to Borrower provided fa in�his Securiry Instrument shall be given by dclivering it or by mailing it ti ��;.:;' �
<br /> iby first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or '^.'�-�,;' • .
<br /> any othcr address Borrowcr designatcs by noticc to Lcndcr. Any noGCe to Lcndcr shall bc givcn by Cust class mail to Lendcr's
<br /> ; address stated herein or any other address Lender daignates by nodce to Borrower. Any notice provided fa in this Security � �
<br /> I Instrumcnt shall be decmcd to havc becn givcn to Borrowcr or Lcnder whcn given as providcd in this paragraph. -
<br /> I IS.Governing Law;Severability. This Sccurily Instrumcnt shall be govemeti by fedcral law and �he Iaw of thc
<br /> ' jurisdiction in which the Propeny is located. In the event that any provision or clause of this Security Instrument or the Note �
<br /> contlicts with applicable law,such conflict shall not affect other provisions of this Securiry Instrument or the Note which can be I
<br /> given effect without the conllicGng provision. To ihisend�he provisions of this Security Instrument and the Note are declazed to j
<br /> bc severablc.
<br /> � Form 3028 9/90 I
<br /> �•8R(NE)�ez�2).o+ Pupe4 0l U inniais� �
<br /> L
<br /> . � �
<br /> . �
<br /> �.1 - _ __ _ _ __
<br />
|