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<br /> . � . paymenu may na longer be required,at the option of l.ender.if rtenrtgase insurance coverage tin the amauat and for the peri� ' � ..
<br /> , °` that Lender �equires>provided by an insurer approved by Lendcr again becomes available and is obtained. Borrower shall pay °. �n +� •�: `-
<br /> the preminms mquired ta maintain mortgage insurance in effect,or to provide a bss reserve,until the requirement foe mprtgage . . ,
<br /> ` '' `'� insnrance ends in accordance with any written agreement between Borrower and Lender or upplicable iaw. , : -. _
<br /> ,,` �;_� q�lnspec�on.Lender or its agent may make reasonable enuies upon and impactions of the Property. Lender shall give . ; :,� .�
<br /> _� �'�__ B o r m�v e r n o t i c e a t t he time of or prior to an ins pection specifying reasonabte cause for the inspection• ,—
<br /> . 10.Condemnat�a: The proceeds of any award or claim for da�nages,dir�xt or coeuegue n ti a l. in co n n e t t i o:� w i t h a n y �.v y � .�, � .
<br /> � ` • wndemnation or nther taking of any part of the Fropetty.or for conveyance in lieu of condemnation,are hereby assiSned and � s; ;_
<br /> . .., � ;f,. shall be paid to l.ender. . : _� ,`.
<br />' '.• In the event of a total taking of the Pmperty.the proceeds shall be app6ed to the sums secured by this Security lnstnuncnt. °..�• . ,` .;.
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<br /> . wheWer or rtot then due. with any excess paid to Borrower. In the event of a partial taking of the Propeety in which the fair � .�. .-�
<br /> ' market value of the Property immediately before the taking is equal to or greater than the atnount of the s�uns secumd by this �i � ., .�.,_ ,
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<br />_ . Security insuument immediate�y before the taking,unless Borrower and Lender othenvise agree in writing,the sums secured by � ,� ".n . : kw•'
<br /> " . this Security lnstrument shall be reduced by the amount of the proceads mi►1tiPlied by the folloaring fiaction: (a) the total � -�'�''
<br /> amowu of the sums secured immediacely before the taking.divided by (b)the fair market value of the Property immediately � _'�L_
<br /> �`�: ��_ .
<br /> • before the taking. Any balance shall be paid to Horrower. In the event of a partial taking of the Property in which the fair �T _
<br /> . market value of the Praperty immediately before the taking is less thart the amount of the sums secured immediaiely 6efore the �.�
<br /> -'*�• • . : • . taking.untess Borrower and Lender otherwise agree in writing or untess applicable law otherv��se pmvides.the proceeds shall . �.—_
<br /> •. _ ,..�.:;��
<br /> . � . ' be apglied to the sums securec!by this Security Instrument whether or rtot the sums are then due. • . _ _
<br /> ' �< "r if the Property is abandoned by Borrower,or if,after notice by Lender to Borrower thai the condemnor offers to make an ��,�. �r..`�
<br />=- ' " �`� . � � award or settte a claim for damages. Borrower fails to respond to Lender within 30 days a f t e r t he date t he no t ice is g iven. . , _ _
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<br /> � � L¢nder is authorized to collert and apply the proceeds.at iu option.either to restoration or repair of the P�perty or to the sums �a, � �
<br /> ' secnred by this Seairity Insttument,whether or not then due. ' �'=
<br /> � • Unless Lender and Borrower otherwise agree in wridng, any applicadon of proceeds to principal shall not entend or � �• �;-��=?'�_
<br /> �' •.�-- -�=
<br /> ,_ , , ;,_ � _ postpone the due date of the monthly payments referced to in paragraphs 1 and 2 or change the amount of such paymenrs. ,-3�.�.-
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<br /> - � 1l.Borrower Nat Released;Forbearance By I.ender Not a Waiver.Extension of the time for payment or modiferation -�
<br /> '��.'� � of amortizatcon of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall �,�
<br /> ,' •� � � not opesate to release the iiability of the original Borrower ar Borrower's successors in interest. Lender sfiall not be required w , ; ._��
<br /> '�;�. •, � " cummence praceedings against any successar in interest or refiue to extend time for payment or othecwise modify amortization . �� _
<br /> � . �� �� of the sums secured by this Security Instniment by reaton of any demand made by the original Bonower ar Borrower's �. ���•��=�
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<br />_ ` �• ` successors in interest. Any farbeazance by I.ender in exercising any right or remedy shall not be a�vaiver of or preclude the .:,_,,r.�_
<br /> ;' ' ,y': , �,.�•.
<br /> ' . exercise of any right or remedy. ��`-_
<br /> '� � ;. :� 12. Saccessors and Ass�ss Bound;Jaint and Several LiabWty; Co-sig�ners.The covenants and agreements of this ��; ;___
<br /> ' Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, sub}ect to the provisions of , __
<br /> , • � . ` paragraph 1?. Borrower s covenants and agreemenu shall be joint and several. Any Borrower who ca-signs this Security `�'^. .M,=—
<br /> " " ''��� instrument but does not exerute the Note: (a)is co-signing this Secu»ty Instrument only to mortgage, grant and wnvey that :,.. -i'�-
<br /> ' • ' Borrawer's interest in the Property under the terms of this Security Instrument; (b)is not personalty obligated to pay the sums ' �- �--�—
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<br /> � :.':;f secured by this Security Instrument:and(c)agrees that Lender and any other Borrower may agree to extend.modify.forbear or . �. •..�_.
<br /> ' m�ke any accommodations with regard to the te►ms of this Security Tnsuument or the Note without that Borrower s consent. . . _ -
<br /> �. . � • 13. Loan Chaiges. If the loan secured by this Security Instrument is subject to a law which seu maximum loan charges. ' _ • •-.�,�.
<br />-=4;= � �.: ' � and that law is finally interpreted so that the interest or other loan charges wllected or to be collected in connection with the
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<br />= "�: ��i taan exceed the permitted limits,then: (a)any such loan charge shall be reduced by the amount necessary to reduce the charge
<br /> � . '; to the permitted limit;and(b)any sums already collected from Borrawer which exceeded pemutted limiu will be refwided to .-- - _,_
<br /> '• '� 1 � � ''+, Bosower. Lender may choose to make this refund by rect�cing the principa! owed under the Note or by making a direct .
<br /> � ' � payment to Bonower. If a refund reduces principal. the reduction wiU be treated as a partial prepayment withaut any •.. . - _
<br /> � ' . � � ' prepayment charge e�nder the Note. . ��<
<br /> �: . � � � � 14.Not[ces.Any notice to Borrawer prmided for in this Security Instrument shall be given by delivering it or by mailing
<br /> � �. it by first class mail unless applicable law requires use of another method.The notice shall be direcxed to the Property Address • ,
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<br /> • • " or�.y ather addtess Borroa•e: designates by notice to Lender. Any notice ta Lender sha11 be given by first class mail to _
<br /> � � � Lender s address stated herein or any other address Lender designates by notice to Borrower. Any natice provided for in this
<br /> _ Security Instrume�t shall be deemed to have been given to Borrowcr or I.ender when given as provided in this paragraph. , , . ��'.
<br /> 15. Governing Law; Seveeability. This Security Instrument shall be govcrncd by federal Iaw and the law oi the • ; �
<br /> jurisdiction in which the Property is located. ln the event that any provision or clause of this Security lnstrument or the Note �
<br /> � • • conflicts with applicabte la�v,ssch conflict shall noi affect o:.':er provisions of this Securi�y Instrument or the Note which can be , . .
<br /> • • . gi�en effect without the confiicting provision.To this end the provisions of this Securiry Instrument and the Note are declared • �
<br /> to be se�:.rable. • �
<br /> • � 16. Borrowee's Copy.Bonower shail be given one conformed co�y of the Nate and of this Security Inslrument.
<br /> � � " Form 3028 9l90 . . . .
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