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<br /> ` �`<'". :, `. ' paymen(s may no longer be required,at the option of Lender,if mortgage i�urance coverage(ia ttce amount and for the period
<br />-.,�`'� ' that Lender requires)provided by an insurer approved by Lender again hecomes available and is ofotained. Borrowrer shall pay � _`� ` `' �.. ��.
<br /> -'� ..
<br /> � t h e Qremi u m s r e q u i r e d to maimain�►ort g a ge i►LSUiance in effect,or w provide a loss reserve.until the requiremsnt for murtgage '.;� .... .,.'';.
<br />`;,`� , _ .�;,:--�'� inseuance ends in accardance with any vn►tten agmemeut between Barrawer and Lender or applicable law. `' . �.: ,
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<br /> , . y, (nspedion, Lender or its agent may make *easanable entries upon and inspectioas of the Property. Lender shall give
<br /> ---�'�J�`; Borrower notioe az the time of or priar to an inspection specifying�asonable c�°�for the iaspestion. '�' _
<br />"� '�" ' � 10.Condemnatloa.The proceeds of any award or claim for damages. dim.ct or consequential. in connection with any .
<br /> � `��� � ' coademnation or other taking of any part of the Property.or for rnaveyance in tieu of condemnation,aae hereby assigned and � ; �,„ �
<br /> _ .`; .
<br /> shall be paid to Lender. � .' ' � _
<br />= - " "" � In the event of a total ta2dng of the Property.the proceeds shall be applied to the sums secared by tt�is Savrity Instrument. �
<br /> ���'; � • whether or not then due.with any excess paid to Bomower.In the event of a partial taking of the Property in wluch the fair
<br /> � • market value of the Property immediatelY befare the taking is equal to or greater than the amount of the sums s�by this � �• �_
<br /> _�-: -
<br /> � «" .. Sacuriry Insdument immediately before the taking,unless Borrower and I.eader otherwise agree in writing,the sums suu�d by � -- � .
<br />%'._, , : • � this Security Inswment shal l be reduced by tt�e amount of the pmceeds muldplied by the folloa+ing fracaon: (a) the total �.1 -= � �
<br /> �''� amount of the sutc�s secured immediately before ihe taking.divided by (b) the fair m�rket value of the Property irrunediately � , -�� _,,�v:
<br /> • `� � ` before the taking. AnY balaACe shajl be paid to Bormwer. In the eveirt of a partial takit►8 of ttte P�uPertY in which die fair �
<br /> � � market value of tfie Property imrnediately 6efore the taldng is less than the amount of the sums secured imme�iatelY before the i� —
<br />`;,..: ' taldng. unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides,ffie pmceeds stiall � �` .___-_
<br /> � ����,' be applied to the sums secured by this Security Insutrment whether or not the sums are then due. . .:;.f =
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<br /> `'� If the Property is abandoned by Boaower.ur if,after notise 6y Lender to Bormwer that t�e condemnor offers to make an _ _�
<br /> ec�: .� �'"r award or settle a claim for damages.Boaowes fails to respond to Lender within 30 days alter the dafe the notice is givea, • =_
<br /> " • ' � 1 the rocceds,at its o tion,either to restoration or repair of the Pmperty or W the sums '�"
<br /> } • Lender is authurized to collect and app y p P • �-
<br /> , ' y',:, �:�.:
<br /> �; secured by this Security Instrument,afiether or not then due. .� '�•�:=..��-
<br /> " � ' � - Unless Lender and Borrower otherwise agree �n W+r►tinB, any aPPlication of proceeds to principal shall not extend or -. �z,__�_
<br /> �. �. n__.�
<br /> _ .� ..- - , h postpone 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 Released;For6earance By Lender 1Vot a Waiver.Exteasion of the time for payment or modsficaaon �;
<br /> ;•� . � ' of amartization of the snms setured by ilus Securiry Inswment granted by Lender to any successor in inter�est of Borrower si�all �"r:�.` -----_
<br /> • `, aot operate to release the liabiliry of the original Borrower or Borrower's successors in interest.Lender sha#t not be required to �; ��`_
<br /> :.: a; '-.
<br /> • • : �7:; ,-: , commence proceedings against arry saccessor in interest or refuse to extend 4ime for payment or otherwise modify amort4zation .,� :;� —
<br /> �`�� ��'-�,; , of the sums setuced by this Security Isiswment by reason of any demand made by the original Borrower or Borrower's �l" ' '
<br /> `.' �-� sucoessors in interes� Aqy forbearance by Lender in exercisit►g any right or remedy shall not be a waiver of or preclude the , � �t,.•r�:
<br /> � exercise of any right or remedy. • ' �=�°'
<br /> � ` 12. Saccessors smd Assigns Bou�d;Joint and Severai Llability; Co-signers. 'The covenants and agreements of this '-'�1. _
<br /> • .. � Security Instrument shaU bind and benefit the successors and a-ssigns of Lender and Bocrower, subject to tAe prosisions of '�� _
<br /> y < , �. paragraph 17. Borrower's covenanu and agreements shall be }oint and several. Any Borrower who co-signs this Security `����`
<br /> � f`„ Instrumeni but does not execute the Note:(a) i9 co-signing this Security Instmment only to mortgage. grant and concey that ''�'"
<br /> � . � .�; Horrower's interest in the Property under the terms of this Security Instrument;(b) is nat personally obligated to pay the sums : < �..- .:�,�':
<br /> - �� secured by this Securiry Instsument:and(c1 a��that Lender and any other Borrower may agree to extend,modify,fo�bear or ,, ,.:�:,.Y..'.�
<br /> ; � • . ? make any accommadations with regard to the terms of this 5erurity Instrument or the IVote without that Borrower's consent. _ _�. __
<br /> �: � � � �+ 13.Loan Chasges.If the toan secured by this Securiry Instrument is subject to a law which sets maximum loan charges. _
<br /> ?� � � . ;�.� and that!aw is finally interpreted so that the interest or other loan charges eo11�or to be collected in connection with the _ r..-
<br /> loan exceed the permitted limits. then: (a)any such loan cAarge shall be reduced by the arnount necessary ta reduce the charge
<br /> .. '"'� to the permitted limit: and(b)any sums already coUeceed from Borrower whicfi exceeded pernutted limiu will be refunded to �
<br /> . ��'� Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct '•:-.-�;�•`
<br /> - payment to Bonower. If a refund reduces principal. the reduction will be treated as a partial prepayment witt'r�ut any . ---_
<br /> . '. . .� prepayment charge under the Note. . , __
<br /> � - 14.Nodces.Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing
<br /> � . � . � it by first class mzi!ursless applicable law requires use of another method. The notice shall be directed to the Froperty Address .
<br /> � or any aiher address Borcower designates by notice to Lender. Any notice to Lender shall be given by first class mail to . ; .
<br /> � • •. l.ender's address stated herein or any other address Lender designates by notice to Borrower.Any notice provided far in this
<br /> • • Security Instrument shall be deemed to have been given to Borrower or Lendet when given as provided in this paragraph. •
<br /> , � • � 15.Governing Law; Severability. This Security Insirument shall bc govemed by federal taw nnd the law of the ,
<br /> . � � ' � jurisdiction in which the Property is located. ln the event that any provision or clause of this Securiry Y::strument or the Note ,
<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 conflicting yrovision. To this end the provicions of this Security Instrument and the Note are declared , .
<br /> ,� '' . ' . . to bc sevcrahle. .
<br /> . •. 16.Borrower's Copy.Borrower shall be given one conformed a�py of the Note and oY this Securiry inctn►ment. •
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