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<br /> .�,t ` , payments may no longer be required.at the opaon of I.ender.if mortgage ensurance coverage lin the amount and for the period . . .._
<br /> � � , �`�,��_� that l.encler requires)provided by an insurer approved by Lender agaia becomes availabte and is obtained:Borrower shall pay .:;�f
<br /> �. • • ; the prcmiums required to maintain mortgage insurance in effect,or to provi�e a loss reserve,until the requisement for mortgage ,�I�� ;
<br /> � ' insurance ends in arcaTdance with any�++riaen agreement between Bor*ower and l.ender or appiicable law. �
<br /> • ' .�< . 9. Lospecdon.Lcnder or its agent cnay make reasonable enuies upon and inspections of the Property. L.ender shall give� •
<br /> � ��„�.,,�:. Horrower notice at the time of or prior to an insQection specifyiog reasonabte rause for the inspection. � , �
<br /> Y : - �0. Condemnatton.The praceeds of any award or cl3iae for damages, direct or cansequential. in conaection with any�
<br /> ' . � condemnation or other taldng of any part of the Property,or for conveyance in lieu of condemnatiort,are hereby assigned and� .
<br />_ ;` -': . � ; shall be paid to Lender. . ..
<br /> . ' �.,, •:,b. .
<br /> ' �` ^ � In thc event of a total taking of the Psvperty,dne proceeds shall be applied to the sums secured by this Security Instrument,l� .
<br /> ..- : 1�.�` whethet or not tfien due, with any excess paid to Borrower. In the event of a partial ta�ing of t}te Property in which the fair� " `:.
<br /> -� " r —��°_..-,.-
<br /> ' market value of the Property immediately before the taking is equal to or greater tban tde amount of the sums secured by tlris , r,.�
<br /> � • . ; Seauity Instrumeat immediately before the taking.usiless Borrower and Lender oiherarise agree in writing.the sums sewred by t ` . �
<br /> .�:G. ,_ � " ` ., , .- -,-
<br /> °'; ' • �� this Security Instrument s 6 a 1 1 be r e d u c e d by t he amo u n t o f t h e p r o c e�s m u l t i Q l i e d b y t h e f o l l o w i n g f r act'son: (a) the totat - .__
<br /> amount of the sums secured immediatelY before the taking,divided hy(b)the fair market value of the Property immediatety °" H„°
<br /> • 1�` . before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair - `x�_;=�
<br /> ��' ' marlcet vatue of the Property immediately 6efore the taking is tess than the auiount of the sums secured immediatety before the i�`;�`:�. ._�-
<br /> �s.. •.� - , _
<br /> � ' taking,unless Borrower and Lender otherwise•agree in wridng ar unless applicabte law otherwise provides.the proceeds shall �� ,� �
<br /> ;.,<.,.,�. � . =.--
<br />.�; . . - be aPplie,d to the sums secured by this Security Inmument whether or not the sums aie then due. .; �._,-,4.�=
<br /> � If the Pcoperty is abandoned by Borrower.or if,after notice by i.crtder to Borrower that the candemnor offers to make an .. __
<br />�' �• • award or settle a claim for damages. Borrower fails to respc�nd to Lender within 30 days ufter the date the nodce is given, _`
<br /> Lender is authori2ed to wllect and a3s�ly the proceeds,ai its option,eitber to restoradon or repair of the Property or to the sums - , - ._
<br />�Y�..', �.: .:s=' --
<br /> � secured by this Security Inctmment.n•hether or not then due. '.;�..�
<br /> ';'�' hcadon of raceeds to rinci shall nox eatend or - �• �
<br /> . ' Unless Leader and Boc�vwer otherwise agree in writing. anY aPP� P P P� - �.�,—�
<br /> � • postpone the due date of the monthly payments referred to in paragtaphs 1 and 2 or change the amount of such payments. , , �-„;�::,:
<br /> '� � - jl.Borrower Not Released;Forbea�ance Sy Leaiter Not a Waiver.Estension of the time for payment or modification `:q„',_
<br /> >'�'� � � of amortization of the sums secured by this Security Insuument granted by Lender ta any successor in interest af Borrower shaU
<br /> i �
<br /> ;�r�'. .�• : not operate to retease the liabiliry of the originat Borrower ar Bonawer's successors in interest.Lender shall not be required to ' �'�9 _
<br /> � .� wmmence praceedings against any successor in interest or refuse to extend time for payment or othenvise modify amartixation ��`�
<br /> t�T,�,' of the sums secured by this Security Instn�ment by reasan of any demand made by the original &arivwer ar Borrower's __._
<br />'"i`�. � • ; ' � successors in interest. Any forbearance by Lender in exercising any right or remedy shali not be a wa�sr of ar pretlude the �-�=='
<br /> �". � • exercise of any right or remedy. ` `"�
<br /> � . 12. Succes.sois and asslgns l�ound;loint and Several Liability; Co-sfgness. The covenants and ageemenu of this '`� , ���"�_
<br /> . ` .� �� Securiry Instroment sl�all bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of �-� ,,'."� .
<br /> �`�.: �—---� --� � paragrdph 17. Barrower's covenants and ageements shall be joint and several. A�ry Borrower who casigns this Security _
<br /> �' ��,': —
<br /> ' Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that _
<br /> � � � Borrower s interest in the Property under the terms of this Securiry Instrument;(b)is not personally obligated to pay the sums � �;�;�
<br /> � � •� • , secured by this Security Instrument:and(c)agrees that Lender and any other Borrower may agree to eatend.modify,forbear or . . ':,_.�
<br /> ; '�; make arry accommodations with regard to the tertns of this Security Instrument or the Note without that Borrower's consent. �'
<br /> ' � � 13.Loan Charges.if the loan secured by this Securiry Instrument is subject to a law which sets cnaximum toan charges. . ; _
<br /> :i�.�� � � and that law is finally interpreted so that the interest or other laan charges collected or to be collected in connection with the ,-
<br /> ' �' loan exeeed the permitted limits.then: (a)any suc.h loan charge shaU he reduced by the amount necessary to reduce the charge ,� .
<br /> .;.,:
<br /> �. � �r : � to the permitted limit:and(b)any sums already collected from Borrower which exceeded perrnitted limits will be refunded to s,,.,• _:
<br /> � � � ' Borrower. Lender may chaose to make this refund by reducing the psincipal owed under the Note or by making a direct . ��•;i%° �
<br /> � ' ' ' payment to Borrawer. If a refund reduces principal. the reduction will be treated as a partial prepayment without any �
<br /> . . prepayment charge under the Note. . '
<br /> ��.. .
<br /> � 14.Not�ces.Any notice to Borrower provided for in this Security Instrument shall be given by delivsring it or by mailing . �
<br /> � . ' it by fi�sss class mail unless applicable law requires use of another method. The notice shall be directed ta the Property Address
<br /> s
<br /> � _ or any other address Borrower designates by notire to Lender. Any notice to Lender shali be given by first class mail to
<br /> • l.ender's address stated herein or any other address l.ender designates by notice to Borrower. Any notice provided for in this r ,.
<br /> � Security instrument sha116e deemed to have been given to Borrower dr Lender when given ac provided in this paragraph. _
<br /> � � . 15.Governing Law; Severabllity. This Sccurity Instrument shall be governed by fecleral law and the law of the
<br /> • • jurisdiction in which the Property is lacated. In the event that any provision or clause of this Security Inctrument or the Note :�''.�
<br /> � conflicts with applicable law.such canflict shall not affect other provisions of this Security Instrument or the Note which can be
<br /> ' ' given effect without the conflicting provision. To this end the provisions of this Security lnstrument and the Note are declared • .
<br /> to be sevcmble. .
<br /> 16.Borrower's Copy.Borrower shall be given one conformed copy of the Note and of this Security instrument. • : . �.
<br /> � � � Form 3028 8J90 ...'
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