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<br /> . , . P�nents may no longer be required.at the option of Lender.if mortgage iasurance coverage(in the a�nount and for the period .' e`, , ` ' ; _
<br /> t h a t I x n d e r r e q u i r e s)P ro v i d e d b y a n i u s urer a p proved b y Lender again 6eoomes availa6le aad is obtained.Horrawer shaq pay
<br /> `""�'' . , the premiums required ta maintain ma rt g a g e insurance in effecc.or to provide a toss reserve.una l t he r e q u i r e m e n t f o r m o rt g a g e . `' +�4 .�,( .
<br /> insuiance ends in accordance with anY`�vri��a��nt between Bormwer and Lender or applicable law. ,c � � --
<br /> �� ` g,Insgection.Lender or its agent may make reasonable emries upon and inspections of the PropertY. i.ender shall give � . ',_.
<br /> �,�.�` , �� _ < < <.
<br /> � � Borrower notice at the time of or prior to an inspt�ction specifying reasenable caus�.�for�di���en�. �n wnnection with any � ��' .;� ,
<br /> - - 10.Coademnation•The Pro��ds of any award or claim for damages. ,�.. `� •
<br /> s_,_�--.. __• of an art of the Property.or for conveyance in lieu of�rondemnation, are hereby assigned and � � - - -
<br /> rnademnation or oihex taking Y P � - ,'
<br /> � � - sl�all be paid Lo Lender. -
<br /> In thc event of a totaF taking of the Property,the proceads shall be applied to the svms secured by this Security Insaument. � � �
<br />�� C.: , ..�. .' ' - ' �' ; �. -
<br /> �?� . :,, � whether or not then due,with any excess paid to Borrower. In the event of a partial taking of the Pr�nperiy in which the fair � .-
<br /> �;�.•.� , m a r k e t v a lue o f t h e P r o pe rt y imna�iately before the taking is equal to or greater than the amount of the sums s�by this �"°_ Y :t. �,
<br /> �` . .. Sexurity Instrument immediately before the tatdng.unless Borrower and Lender atherwise agree in writing,t h e snms s e c u r e d b y � � , ,�=.
<br /> ; �.. .
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<br /> � this Secority Instrament shaU be reduce8 by the amount of the procaeds multiplied by the foltowing fraction: fa) the total : ,, , • ^�
<br /> .=k' _ .yf.'� ' _._
<br /> ;:� • amount of the sums secured immediately before the taking, divided by(B)t6e fair market�o uttte P oc��p,n whi�cb the fair , ' ..°-�_
<br /> f?+ �.��; �� �� before the taking. Any balance sl�alt be paid to Borrower. In the event of a partial taking P �Y `��•-
<br /> markei value of the Property immediately before the taking is less than the anw+mt of the sums secured imtnediately before the
<br /> `�' .. ` taking,unless Borrawer and Ixnder otherwise agree in writing or unless applicable taw otherwise provides. the proceeds shall
<br /> �' �'',.,`� � be apglied to the sums secured by t�is Security Inssiument whether or not the soms are tlzen due. �. , •
<br /> �''" p �s abandoned by Borrower,or if.after notice by Lender to Borrovver that the condemnor offets to make an �� .• :.
<br /> f, ; , .''. , . ' If the Pro erty. . "�
<br /> "�t: award or settle a claim for damages, Hon'ow'er faits to respond to Lender within 30 days after ihe date the notice is gi++en,
<br /> a:•• . . . . � . � ,
<br /> Lendex is authorized to collect and apply the proceeds.at its oprian,either to restoiation or repair of the Property ar to the sunos :� , ;;�`; : .
<br />"��'��._`,-:':.--�.r`� secured by this SecaritY Instrument.whether or not then dtte. '"`_� `..`.
<br /> ;'�. � lication of roceects to princiPal Shali not e�end or `��
<br /> Unless Lender and Borenwer othernise agree in writing, anY apP p ments. =_y�
<br /> � ` , ,: ..�� � -—
<br /> � •• postpone the due date of the manthly paymeats referred to in paragraphs 1 and 2 or change the atnoant af sach Fay � _.�. _
<br /> 11.Borrower 1Vot Yteteasecl;Forbc�arance BY�der Not a Waiver• E�tension of the time for payment or modification '::Tr-�,yy;�
<br /> " of amartiTation of the sums secured t►Y this Security LLStrument granted by 1-ender to any successor in interest of Borrower shall ��
<br /> IIiS ��_ .�.�`
<br /> �1, not operate to release the liability of the original Borrower or Borrower's successors in interest• 1-ender shall not be required to .---_
<br /> �'.`r �� �� � ` commence roceedinSs aSainst anY suc�s°T in interest or mfuse to extend time for payment or otherwis�modify amortization _-
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<br /> �_>' � of the sums s�u r e d by this Securi ty Iosuument by reason of any demand made by the original Borrower or Borrower's _
<br /> �'"`� � successars in interest. Any forbearance by 1-ender irreaercising any right or remedy shall not be a waiver of or preciude the
<br /> �,,. ; .`. exercise of any right or remedy. • .� `, , _ -- --
<br /> • .�'� Bound;Joint and Several Liability; Co-signets. The covenanu and agrecments of this
<br /> �' � 12. Succcsso�s and Asslgns •� .�'"`'' .''--- -
<br />;:', ' ,_..��, • Security Instrument �aU bind and benefit the successors and assigns of Lender and Borrower,subject to the provisions of _—-
<br /> � paragraph l7, Borrawer s covenants and agreements sball be joint and s�veral• AnY Borro�+er w�ha �°'S ana�nv that -=_
<br /> '� � � Inswment but does no t ex e c u t e t h e Nate: (a}is co-si g ning this Securiry Instrument only to mortgage,gran eY ___.
<br /> tr - .. - Borrower's interest in the Pcoperty under the ternLS of this Secvrity Instrumenr(b)is noi personaliy ohligated to pay t he sams �r.
<br />-= • . s e c v r e d b y t h i s S e c v ri ty I n s t r umant:and(e)a g rees that Lender and any other Borrower may agree to extend,modify.for6ear or �_.
<br /> ' � ,, make any accommo darions wi t h re gard ro the terms of this Security Inswment or t he Note wi t hou t t h a i B o r r a w e r's c o n s e n t. ;:;,,�_-_
<br /> � �. �.��
<br /> � 13.Loan Charges.If the loan secured by this Security lnstrument is subject to a law which sets maxim�un toan cl�arges, :�.�
<br /> ;� :` .
<br /> ' and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the _ . - _
<br /> � 'l ' � loan exceed the permitted limits,then: (a)any such loan charge shall be redeced by the amount necessary to re�uce the charge __
<br /> ��'� � ...
<br /> �' to the pemiitted limit:an d(b?ar►y sumc already collected from Borrower which exceeded permitted limits will be refunded to —
<br /> �' � � � Borrower. l.ender may choose to make this refund by reducing the prirtcipal owed under the Note or by making a direct •
<br /> 3:e:. .; l , �._ .
<br /> , . payment to Borront�s. If a refund reduces principai. the reduction will be ueated as a partial prepayment without any ,
<br /> a�:•, � �'�� prepayment charge under the Note. _ .
<br /> �`�� � � 14.Nottces.Any notice to Borrower provided for in this Security Instrument shall be given by detivering it or by mailing ' •�� ,_
<br /> � •� . • � it by first clsiss mail unless applicable law requires use of another methad. The notice shali be directed to the Property Address ..�.��,,p:{�`
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<br /> �� ° or any other address Borrower designates by nutice to Lender. Any notice to Lender shail bc given by first class mail to
<br /> �• l.ender's address stated herein or any othcr address Lender designates by notice to Borrawer. Any notice provided for i�this
<br /> . � � . Security Instrument shall be deemed to have been given to Borrawer or Lender when given as provided in this paragraph• , . .
<br /> �`• ', � 15.Governtng I.aw; Severabllity. This Security Instrument shal[ be govemed by federal law and the law of the
<br /> � jurisdiction in which the Property is located. In the event that any provision or clause of this Security lnstrument or the Idote
<br /> ,� � � conflicts with applicable law,such wnflict shall not affect other provisions of this Security Instrument or the Note which can be
<br /> � ,� given effect without the conFliciing provision.To this end the provisions of this Securiry instrument and the Nate are declared
<br /> -� • to be severable. ' :
<br />.u. , � . . . 16.Borrower's Copy.Borrower shall be given one conformea copy of the Note and of this Security Instrument.
<br /> ,. � ; . ' Fortn 3028 9/90
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