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<br /> _ � Rayments may no lottger be required,at the opuan of[xnder,if mongage insurance rnverage(in the amount and for the period .� °•�,.;,�- �
<br /> • , • � that Leader require�)pm�ided by an insurier approved by L.ender again becames available and is obtaiaed. Borrower shall pay �.'+ •�''` � ...
<br /> • � . . the preuuums required to maintain mortgage insurance in effect,or to proYide a loss reserve.until the requirement for mortgage ,.',� �� � ,
<br /> � . ' insurance ends in accordattce with any written agreement betwetn Borrow�er and Lender ur appEicabte law. , �` . , -_ . ..
<br /> ` �.. . � � , 9.Iaspection.L.ender or iu agent may make ceasdnable enuies upon and inspectiotu af the Property. Lender shai!give :_;`,?��' �' �
<br /> �. Borrawer noticc at the time of or prior to an inspection�pecifying masonable cause for the inspection. � `. �
<br /> '"'� 10.Condwnnat�on. 'fhe proceeds of any award or ciaim for dart�oges.direcc or conseqaential. in connection with any � `
<br /> _• T �'� condemnation ar other taking of any part of the Property,ar for rnnveyance in lieu of r.�ndemnati�n.are hereby assigned and _ � �
<br /> �� . ..-� shall be paid io Lender_ _ - -4-``' ,�_
<br /> � . `' . In the event of a total taking of the Property,the pr�ceeds shall be applied to[he sums secured by this Security instrument. � `.� .'. �- Y
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<br />" whether or not then due. with any excess paid to Borrower. In the event of a Qartial taking of the Property in which the fair � ' '- �,",.t�.:�,_�;
<br /> , � ,," market value of the Property immediately before the taking is equal to or greater than the amount of the sums secured by this ` �rG°,;�`'- °`;`,,;..' �.
<br /> � .�"� Security Instrument immediately hefore the taking,unless Borrower and Lender otherwise agree in writing,the sums secured by : _ ; �
<br /> • ° � ttus Serurity Insuument shall be redaced by the amouat of the proceeds mutiiplied by the following fraction: (a)the tota! - ��_
<br /> . ,� '�� amount of the snms secured immediately before the taking,divided by(b)the fair market value of the Property immediately � " , ".�:��--F:����_
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<br /> �• ` ' � before the taking. Any balance shall be paid to Borrower. In the event of a partia}taking of the Properry in which the fair � ^`��'- ,-_
<br /> ,• ` `�� market value of the Pmperty immediately before the taking is less than the amount of the sums secured immediately before the ' -"_�,:��`.-
<br /> _, � taking. unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides.the proceeds shall _`.•.,.,... '-�
<br /> . , � % be applied to the sums secured by this Securiry Instrument whether or not the sums are then due. •- ��- --
<br /> � ,.. .� �` If the Properry is abandoned by Boaower,or if,after norice by[.ertder to Borrower that the condemnor offers to make an � " '• �`� —___
<br /> : , ' :��� award or senle a claim far damages. Borrower fails to respond to L.ender within 3Q days after the date the notice is giveu, , , ;:_
<br /> L.ende;is authorized to collect and apply the procxeds,at its option,either ta restoration or c�mir of the Property or to the swas ' f -�' �•—
<br /> - • � �:� secu r e d by t his Seairity Instrument,w het her or not t hen due. � . -;:�:�`:
<br /> � J' llnless Lender and Borrower otheraise agree in writing, any appliration of proceeds to principal shall not eatend or �
<br /> � . � pastpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. ��°.=
<br /> - � �°� 11.Borrower Not Iteleased;Forbearance By Lender Not a Wafver.Eatension of the time for payment or modificarion '` � " �'"��`�+�%�
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<br /> ' of amonization of the sums secured by this Securiry Instrument granted by Lender to any successor in interest of Borrower s6a11
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<br /> �r , - nat operate to retease the liability af the original Borrower or Horrower's successors in interest. Lender shall not be mquireA to , • --=__•
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<br /> commence proceedings against any successor in inteiest or refuse to extend pme for payment or othenvise modify amortization ' �-�~
<br /> .. of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower s � '��•-
<br />- � successors ia inten�st. Any forbearance by Lender in exercising any righi or remedy shall not 6e a waiver of or preclude the :ie;; '� ' �•-�-- —
<br /> '!��. _ .. exercise of any right or remedy. �`�r::: ';�. ..� : ��.
<br /> ' lZ. Succezco�s and A�sigars Bound;Joint and Several Liability; Co-signers. The covenants and agrzements of this ';�i%�'•:� •� " .°;.h�, _.
<br /> - Security Instrument shall bind and benefit the successors and assigns of Ixnder and Borrower, subject to the provisionc of `'' ' � �,_��_
<br /> � paragrapl� 17. Borrower s covenants and agreements shali be joint and several. Any Borroa�er who co-signs this Securit}, � '� °
<br /> � . . � Instrument but daes not execute the Note: (a)is co-signing this Sectuiry InStrument only to mortgage. grant and convey that �� `�'f'�-_
<br /> �'• ; - Borrower's interest in the Propeny under the cem�s of this Security Instrument; (b)is not personally obligated to pay the sums �%�,. .` '�� "
<br />�.. ' . ,� secured by this Security i�trument; and(c)agrees that Lender and any other Borrower may agree to extend,modify.forbear or ' . � '�''>����
<br /> . . make any accommodations with regard to the terms af this Security Instn►ment or the Note without that Borrower's consent. ' � � .j�T�
<br /> �� , , 13.Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges. �. .' ' '•'�'•=
<br /> � and that law is finally interpreted so that the interest or ather loan charges collected or to be collected in wnnection with the ��, ; ;`_°_
<br /> '�'• • � � loan eaceed the permitted timits,then:(a)any such loan charge sha11 be reduced by the amount necessary to reduce the charge ' -__
<br /> _ � to the pemtiaed limit;and(b)any sums already collected from Borrower which exceeded permitted limits will be refunded to _ • • s�- �__
<br /> � � . Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct f� .: �
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<br /> • . payment to Bormwer. If a refund reduees principal. the redaction will be treated as a partial prepayment without any � • ' "'�"
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<br /> . '. � prepayment charge under the Nate. • __ ;
<br /> , , ' � 14.Notires.Any notite to Borrower provided for in this Security lnstrument shall be given by delivering it or by mailing ' . .,ri;:.
<br /> , '"'' it by first clacs mail unles�applicable law requires use of another methad. The notice shall be directed to the Property Address . � .: � �
<br /> •;:,: .
<br /> • � , ' or any other address Borrower designates by notice to Lender. My natice to i.ender shall be given by first class mail to "'�' �"r����'
<br /> � • . Lender's address stated herein or any other address Lender designates by notice to Borrower. Any natice provided for in this � � ' , �
<br /> �� . Security Instrumcnt shaU bc dcemcd to havc been givcn ta Borrowcr or Lender when given as provided in this paragraph. � � ,
<br /> • 15.Governing Law; Severability. This Security Instrument shaU be go�emed by federal law and the law of the . � . �, �. �
<br />-_�'i .� , jurisdiction in which the Property is located. ln the event that any provision or clause of this Security Instrument or the Note � �� • � ',
<br /> c��nflicts with applicable law. tiuch conflict yhall not affect other provisions of this Security Instrument ar the tio�e which can be � � . -.
<br /> � ' , given effect without the conflicting provision. Ta this end the provisions of this Security Instrum�nt and the Note are declared �. .
<br /> � . • to be�everabSe.
<br /> 16.Borrower's(;opy.Borrower shall be given one canformeci copy of the Note and of this Security Insirument. ' � _' �
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