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<br /> �, > ' at the o tion of l�ender.if mortgage insarancc coverage(in che amount and for the p,riod ' � �
<br /> • payments may na langer be required. P t � ,,�,� •�
<br /> � • • that Lender requires)pravided by an insurer appraved by L.ender again becom�avai9able and is obtained.Borrower p Y , -
<br /> � , . . �e premi�ms required to maintain mortgage insurance in effect.or to provide a loss reserve.unul the requiremenc for mortgage ,- .f •, .,.`
<br /> written a ment between Horrower and Lender or applicable law. -���..;;
<br /> _ i�urance ends in acxordance with atly 8� Lender sha11 iva � ', ,'�, �
<br /> ` � 9.Inspeetion.Lender ot its agecn may malce reasonable entries upon and inspertions of the Property• g y�, � .
<br /> , �',G,s.� Borrower notice at the time of or prior to an insp e c t i n n s peci f yin g rea+°na(°le cause for the inspection. � F ,���: ,: .�
<br /> -`k `` 10.Condemnat�on.The Proc�of any award or claim for damages. d�rect or��e9uential,in connection with any
<br /> T •� '� condemnatian or ather taldng of any part of the ProPertY.or for eanveyance in lieu of condemnation.are hereby assigaed and _ ,,` '_
<br /> � • � shall be paid to L.ender. '..:r,� ..':<:'_t: ` .
<br /> � . In t6c event of a total taking af the Propercy.t1�e Procceds shall be apptied co tf►e sums secu�e�pe��ty'n which�t h e fair ' `
<br /> � � whether or not then due,with anY excess Paid to Borrower. In the event of a pa�rtial takinS . , .
<br /> market value of the Property immediately before the taking is equal to or greater than the amaunt of the sums secured by t his
<br />. . gecurity Instrumeni immediately before[he taking,unless Borrower and L.ender otherwise agree in writing.the sums secured by ., _ .'' �
<br /> ` �gesurity Inatnunent s h a l l be r e d�r�e d b y t h e a m o u nt of the proceeds muttiplied by the following fractian. (a) the total - �� .
<br /> , . .;;- g y munediacety
<br /> • amount of the sums secured immed�ate�Y before the takin . divided b (b)the fair market o�e��e�ch che fair ,;'E`=`F� "'
<br /> before the t a k in8• Ar►Y b a lan c e s 1�a 1 1 be paid to Borrower. In the event of a partia� talang Pem' ^�-..`
<br />- .. ' ,',', market vatue of the Property immediately before the taking is tess than the u�le law oth�isp���P'Yro b��1 :: '` F. �-
<br /> . - taking,anless Borrower and Lender otherwise agcee in writing or unless aPP� ,
<br /> .� ' .. b�appli�d to the swns secured by this Security Insuument whether or not the sums are then due. ;�`'r�+��.
<br /> " ' If the PropertY is abandoned by Bormwer,or if,after notice bY Lendet to Borrower that the condemnor offers to makV an `���Yy —
<br /> f • ' award or seule a claun for damages. Borrower fails to respond to I.ender wid�in 30 days after tlte date the notice is gi
<br /> ;: 1 t6e roceEds.at its option,either to restoration or repair of the Properq+or to the sums `:� �-
<br /> .°. ` �`:� Lender is authori�d to soliect and aPP 9 P �
<br /> �.:� � r--�
<br /> , '�`` secured by this Secvrity lnstrument,whether or not then due.
<br /> �' ' pnless I.ender and Bocrower othenvise agree tn wr►ting• anY application of proceeds to prinapal shall not extend or �� �:
<br /> � ts referre�to in paraP,raphs 1 and 2 os change the amount of such payments. y,_.�_�:,_.
<br /> - ' po s c p o n a t h e d u e d a t e o f t h e m a n t h l y p a y m e n �... {.y.._��,s_-_`.
<br /> � � � �`:f 11.Borrower Not Released;For6enrance BY Lender Noi a Waiv�r.Extension o f t he ti m e f o r p a y m e n t o r m a d i fi c a t i o n ' _ _
<br /> - ;�'s:��-.
<br /> . . .-. . F of amortiTation of the sums secured by this Security Insuument grattte�l by L.ender to any successor in interest of�orrower shall '.,o�. ( -.�
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<br /> ` not op e r a t e to r e l e a s e t h e l i a b i l i t y o f t h e o ri g i n a l`B eTM�°t or fef�s�o xieRd tt'ine far paymentsor o t herwi e m o d i f Y a m o rt��o n _ _ _-
<br /> - co m m e n ce p r o c e e d i n g s a g a i n s t a n y s u c c e s s o r ' •t:;.�.
<br /> .� , of Ehe sums secured by this Security Instrument by reason of ony dehmandr m�y b�1 np�b�w��°f p�p B�°lude ethe � .:�
<br /> ,. _. _ successors in interest. Any for6earance by 1-ender in exercising any rig � �, ,-,,, �..-----
<br />_'' � ` exercise of any right or rec«edy.
<br /> :�-�.
<br /> � 12. Successors and Asstgns Baund;Joint and Severa! Liability:Casigne�. The wvenants and agreemenu of this
<br /> Security Inmument shall bind and 6enefit the successors and assi g ns of Lender and Borrower, sub}ect to the provisions of .�.'��.�...
<br /> • paragraph 17. Borrower's wvenants and agreements shali be jaint and several. Any Borrower who ��ana Snveey that � h° r-.-'�`
<br /> � � � ' ` instmment but does not execute the Nate: (a) is co-sigmnS this Security Instrument only to mortgage,gr �:��
<br /> � �.! Borrower's interest in the Property under the tetms of this Securiry Instrument:(b)is not Qersonally obUgated to pay lhe sums • ���,_;.
<br /> ' � � � secured by this Security Instrument:and(c)agrees that I.ender and any other Borrower may agree to extend,mociify.forbear or � _
<br /> ��
<br /> . - make any accommadations with regard to the terms of this Security Instrument or the Nate without that Bonower s wnsent. �''T �
<br /> � 13.Loa���• If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, , :_a,s:
<br /> • � . • ' and that law is finally interpreted so that the incerest or other loan charges callected or to be�°ite����to��°h chazge �, • =-`
<br /> -�_:
<br />_ . loan exceed the permitted limits,then: (a)any such loan charge shall be reduced by the amount necessary �c,,, .
<br /> � to the permitted limit:and(b)any sums already collected from Borrower which exceeded pem►itted limits will be refunded to � �,.,,�;�
<br /> Borrower. Lender may choose to make this refund by reducing the principal owed under tPhe Note ar bmemak�ng'o�� " � �,;_
<br />_;,: � ' � � payment to Borrower. If a refund reduces principal. the reduction will be treated as a art�al prePay .. .
<br /> . ' , prepayment charge under the Note. �"'t`�
<br /> '. i - -
<br /> . • " 14.Notices.Any notice to Borrower provided for in this Security lnstrument shall be given by deliverin�it or by mailiag
<br /> "� . �' . it by first class mail unless applicable law requires use af another method.The notice shall be directed to the Property Address .
<br /> ` or any other address Bartower designates by notice to Lender. Any notice to Lender shall be given by f rst class mail to .
<br /> ' Lender's address statcd herein or any other address Lender designate.g by notice to Banower. Any notice provided for in this
<br /> , Security Instrument shall be deemed to have been given to Borrower or Lendcr when given as provided in this paragraph. ' :
<br /> ' �� 1S.Governitig Law; Severabllity. 'Phis Security lnstrument shall be govemed by fedesal law and the !aw of the
<br /> .� ' jurisdiction in which the Properry is lacated. In the event that any provision or ciause of this Security Instrument or the Note , �•
<br /> _ • � ' , .
<br /> ' ' conflicts with t+pplicable law,such conflict shall not affect other pravisions of this Security Instrument or the Note which ean be
<br /> �� given effect without the conflicting provision. To this end the provisions of this Security lnstrument and the Note aze declared
<br /> � to be severable. �
<br /> • � . 16.Borrower's Copy.Bonower shall be given one wnfarmed copy of the Note and af this Security Instrument.
<br /> �, Porm 3028 9/90
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