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<br /> • payments may no longer be required, at the option of L.ender,if mortgage insurance coverage(in the amount and for the period
<br /> .��' �' ••�'�: that[..ender requires)provided by an insurer approved by Lcnder ugain becomes availabl�and is obtained. Borrawcr shall pay
<br />;-t„f b,�.•,,..,;` the premiums required to maintain mortgage insurance in effect,or to pravide a loss reserve,until the requirement for mortgage
<br /> '`� `''� �, insurance ends in accordance with any written agreement between Borrower and Lender or applicable law.
<br /> 9.Inspectton. Lcnder or its a�ent may make rcasonable entries upon and inspections of the Property. I.ender shall give� c
<br /> Borrawer notice at the time of or prior to an inspection specifying reusonable cause for the inspection.
<br /> _'�"' ' 10. Condemnation. The proceeds of any award or claim for darnages, direct or cansequential, in cannectian with euty�
<br /> - �' condem�iation ar other taking of any part of the Property, or for conveyance in lieu of candemnati�n,are hereby assigned and �
<br /> — � � +: shall be paid to L.ender.
<br /> •:� In thc event of a total taking of the Property,the procceds shull he applicd to the sums secured by this Sccurity Instrument, �
<br /> �"� whcther or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property in which the fair Mi
<br /> '� �� m a r k e t v a l u e o f t h e Pro perty immediatel y beforc the taking is equal to or greatcr than thc amount of the sums securcci by this ' I
<br /> "�`i'"'°, Security Instrument immediately before the taking, unless Bottower and L.ender otherwise agree in writing,t he swns secur e d by i
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<br />_;r�=;'•�;, this Securiry Instrument shall be reduced by the amaunt of the proceeds multiplied by the following fracti�n: (u) tht totul
<br />-_.;=+::f.�,�... � amount of the sums secured immediutely bcfore the tuking, divided by(b)the fair markct valuc of the Property immcdiatcly i
<br /> d:�;{§�;�� bcfarc the tuking. Any balmice shall bc paid to Borrowcr. In thc event of a pnrtiul tuking of thc Prapeny in which the fair
<br /> �^'a:;.•_<+:• market value of the Praperty imuudiatcly before the taking is Iess thun the umuunt nf thc tiums secured immcdiutely hefare the i
<br />-�:f�.utttjS�' taking,unlcss Bonawer and i.endc;r ulherwisc;agrec in writing or unless appliriiMle lew nthcrwisc pruvides, the procccds�hull
<br /> ^-��w? � be upplicd ta the sums securcd by this Securiry instrument whether or not the sums ure then due.
<br /> ;.,t•r•�:�c.
<br /> - �,t • If the Property is abandoned by Borrower,or if,nfter notice by Lender to Borrower thut the candemnur offen to make nn
<br /> ;„�,�„°�• awurd or settle a claim for dmnuge,,Bonowcr fails to respond to Lendcr within 30 days uftcr the dutc thc notice is given.
<br /> ..•�`.' I.ender ts authorized to callect and apply the proceeds,at its option,either to restoration or repair of the Properly or to the sums
<br />_;�;� :.�4i., secured by this Security Instrument, whether or not then due.
<br /> -���T' Unless Lender and Borrower atherwise agree iu writing. any appliation of proceeds to principal shall not cxtend or
<br /> -�F��•"• � postpone the due dute of the monthly payments refened to in paragraphs 1 �nd 2 or chan�e the amount of such payments.
<br /> • �,::•
<br /> �_-�'.,��k'„ 11. Borrower Not Released;Forbearance By T.ender Not u Waiver.Extension of thc time for payment or modi icat�on
<br /> •�:�:^�•r�;ti� of amortixntion of the sums secured by this Security Instrument granted by I.ender to any successor in interest of Banower shull
<br />`��� not operate to rclease the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to
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<br />--- ° cammence proceedings uguiiisi any sucecssor in inLeres:o*r:fuse to exr�nA►ime for payment or otherwise modify amortizat on
<br />-:«=�_�..�.�,�' of the sums securec! by this Security Instrument by reason of uny dernand made by the original Bonower or Honower's
<br />�'�;Fw�"'"'' successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the
<br /> •""`��4 exercise of any right or rcmedy.
<br />=�:n.. 12. Successors and Assigns Bound; �oint and Several Liability;Co-signers. The covenants and agreements of this
<br />_-"��►� Securiry Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provislons of
<br /> a—��`°�� parugraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security
<br /> --'����`�� Instrument but does not execute the Note: (a)is co•signing this Security[nstrument only to mortgage, grant and convey that
<br /> =�� '�`�'��''•� Bonower's interest in thc Property under the terms of this Security Instrunxnr,(b)is not personally obliguted to pay the sums
<br /> =°=''-'--'"�� secured by this Security instrument; end(c)agrees that Lcnder and any other Borrower may agrec ta extend,modify,forbear or
<br /> -�-���i� make uny accommodations with regard to the terms of this Security Instrument or the Note w3thout that Borrower's consent.
<br /> --_ '"'� 13.l,oan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges.
<br /> � �-�"�Y�'�� und thnt law is finally interpreted so that the interest or athr,r loan chnr�es collected or to be collected In connection with the
<br /> �"'�"=u��� loan exceed the permitted limits,then: (a)any such loan charge shall be reduced by the amount necessary ta reduce the charge
<br />-- "-` ° to the permitted limit;and(b)any sums alreudy collected from Borrower�vhich exceeded permitted limits wiil be refunded to
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<br /> �Ti��4�:, Bonower. Lender may choose to make this refund by reducing the principal owcd under the Notc or by m�king a direct
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<br /> �. > a ment to Borrower. If a refund reduces rinci al, the rcduction will be treated as A artial re a ment w t out an
<br /> _ '1�":'�" prepaymcnt charge under the Note.
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<br /> ,_._*:,�r._,._ 1�.Notices.Any noticc to Borrower provided for in this Security Instrunxnt shall be givcn by dclivcring it or by mailing
<br />-���•� it by first class mail unlcss applicablc law rcquir�s use of unother method.The notice shall be directed to the Property Address
<br /> '�"'��� ' or any other address Borrowcr designates by noticc to Lcnder, Any natice to L.ender shall bc givcn by tirst class mail to
<br /> ,:�.�• • •� y
<br /> . ..- Lender's address statcd herein or any othcr address Lender designates by noticc to Borrower. Any noticc provided for in t is
<br /> ` "�,:v Security Instrumcnt shall be deemcd to have bcen given to Borrowcr or Lender when given us provided in this paragraph.
<br /> 15.Governtng Law; Severability. This Security Instrument �hall be govemcd by federal law and the la�v of the
<br /> �� jurisdiction in which thc Properry is loratcd. In the evcnt that Any provisi�n or cluuse of this Sccurity Instrument or the Note
<br /> � p conflicts�vith applicuble law, such conflict shall not affect ather provisions of this Security Instrument or the Note which can be
<br /> given effect without the conflicting provision.To this end the provisions of this Security Instrument and the Note are declared
<br /> � to be sever.�ble.
<br /> 16.Borrower's Copy. Borrower shall be given one conformed capy of the Note und of this Security Instrument. ,
<br /> . � Form 3028 9/90
<br />._ , .� Pngo A ot 6
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