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/ I I I � � payments may no longcr bc rcquircd,at thc option of Lcndcr,if mort�agc insurancc covcragc(in thc�:nount and for thc pc.riod � that Lendcr rcquires)provided by an insurcr approved by Lcndcr agein be�omcs availablc and is obtained.Borrowcr shall pay thc prcmiums rcyuired to maintain mortgagc insurancc in effcct,or to providc a loss rescrve,until thc rcquirement for mortga�c ' ' insurance ends in accordance with any written agreement between Borrower and Lender or applicable law. � � 9.Iaspection. LenJer or its agent may make reasonablc cntncs upon and inspccuons of the Property. Lcnder shall givc 0 I " � Burrower notice at the time of or prior to an inspection specifying reasonable causc for thc inspection. ; 10.Condemaation. The proceeds of any award or claim for damages, direct or consequential, in connecpon with any� � i condemnauon or other teking of any part of the Property,or for wnveyancc in lieu of condemnauon,are hereby assigneti and� ' shall bc paid to Lendcr. I In thc event of a total taking of the Properry,the proceeds shall be applied to the sums secured by this Security Instrumen� � x,•� whether or not Ihen dae,with any excess paid to Bonower.In the event of a paztiril taking of ihe Propeny in which the fair market� '='__. value of thc Property immedisusly beforc the taking is cqual to or greatcr than the amount of the sums sccured by this Security� ""' ;�:..�. .k.v. Instrument immediately beforc the taking, unlcss Borrower and Lcndcr othcnvisc agrcc in writing, thc sums sccured by this Security Instrument shall be reduced by the amount of the proceetis mulppl�ed by the following fracuon:(a)the total amount af "� — the sums secured immediatcly before the taking, divided by (b) the fair market veluc of the Property immediately before the � taking.Any balance shall be paid ta Borrow�:r.In the evcnt of a partial taking of thc Property in which the fair market valuc of the Property immediately bcfore the taking is less than the amount of thc sums securetl immcdiately beforc the taking, unle.s.5 I Borrower and Lendcr otherwise agree in writing or unless applicable law othcrwisc providcs,dic procceds shall be applicd to the i sums sccured by this Security Instrument whcther or not thc sums arc then due. If the Property is abandoned by Barrower,or if, after notice by L.ender to Borrower that the condemnor offers to make an . awerd or seule a claim for damages,Borrower fails to respond to Lender within 30 days after the dete the notice is given,Lender + .� is authorizetl to coUect and apply the proce�ds,at its option,either to reswradon or repair of the Property or to the sums secured �, by this Sccurity Instrument,whether or not then due. Unless I.ender and Borrower atherwise agree in writing,any appGcadon of procceds to principal shall not extend or postpone '�= the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such paymenu. ' •'.�� _. 11.Borrower Not Released;Forbearance By Lender Not a Waiver. Extension of the time for payment or moditication ��• '',�+,�,. ; ,; �=— of amortization of the swns secured b this Securi Instrument �'` y ty granted by Lender to any successor in interest of Borrower shall ; _ < not operate to release the liabiGty of the original Borrower or Bonower's successors in interes� Lender shaU not be required to �+' — � commence proceedings ageinst any successor in interest or refuse to extend dme for payment or oWenvtse modify amortization of "`��'' the sums secured by this Security Instrument by reason of any demand msde by the original Borrower or Borrower's successors � �A;• 4��_ in interesG My forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude thc exercise of any �+� �,�" right or remedy. ��; • 12.Successors and Assigns Bound;Joint and Several Liability; Co•ai�ners. 71�e covenants and agreements of this ' Seciuity Instrument shall bind and beneCt the successors and assigns ot Lender tutd Borrower, subject to the provisions of paragraph 17. Borrower's covenants and agreements shall be joint and severai. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Insirument only to mortgege,grant end convey that :��i-- Borrower's interest in the Propeny under the terms of this Security Instrument; (b)is not personally oblIgated to pay thc sums `::a� - secured by this Sccurity Instrument;and(c)agrees that Lender and any other Borrower may agree to extend,mudify,forbear or •;��.�`� make any accommodations with regard to the terms of this Security Inswmcret or the Note without that Borrower's consen� --- 13.Load Charges. If the loan sccueed by this Security Insuument is subject to a law which sets maximum loan charges, = — and that law is finally interpreted so Ihat the intemst or other loan char�es collected or to be collected in connection with the loan =:M:�,�___ exceed the permiued limits,then: (a)any such loan charge shaU be rcduccd by the amount nc�ssary to reduce the charge to the r.%';•!lR',� permitted limit;and(b)any sums alrcady collected from Borrower which exceeded permitted limits will be refunded to Borrower. '�'°'� � Lender may choose to make this �efund by reducing the principal owed under the Note or by making a direct payment to ��;��,�;,,�.• Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment chazge ':�`_° � under thc Notc. ( �;-° - --_�� �'�: { 14.Notices. Any norica to Borrowcr provided for in this Security Inswment shall be given by delivering it or by mailing it ` � " � � by Cust class mail unless applicable law requires usc of another method. 71ie notice shall be directed to thc Property Address or ��'�r.,�:_,p��_;}v.;� � any othcr address Borrowcr designatcs by nouce to Lcnder.My notice to L.ender shall be given by f3r�t class mail to Lender's '•�f:� ''�- � address stated herein or any other address Lender designates by notice w Borrower. Any noace provided for in this Security � . �� � Inswmcnt shall bc dccmed to have bccn given ta Borrowcr or Lcndcr whcngiven as providcd in this paragraph. . '�_ 15.Coverning Law;Severability. This Seciuity in5wment shall be govcmcd by fcticral law and thc law of the � '• jurisdiction in which the Property is located. In the cvent that any provision or clause of this Security Instrument or thc Note � contlicts with applieable law,such conflict shall not affect other provisions of this Se�urity Insvument or the Note which cAn be ; given effect without the conflicting provision.To this end the provisions of this Security Instrument and the Note are declared co . bc scvcrablc. � , ; ' �•6R(NE)�92��.0� Form3028 9/90 Pago!01 s �mtiait: L - - � r � __ _ _