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<br /> • ( L � paymenu may no longer be required.at the opuon of L.ender.if mongagc imarance rnverage lin the amount and for the periad ` � ' � .�'� �,�t:; :`
<br /> � � that Lender requires)provided by an insurer approved by Lender again 6ecames avaitable aad is obtained. Bormwer shal!pay ,�1
<br /> � .. the premiums required to maintain mortga�e insurance in effect.ar m pmvide a loss reserve,until the requirement for mortgage _
<br /> • � insuranee ends in accordance with any written agneement between Borrower and t.ender ot applicable law. : ` �•.=Q�::�- �,
<br /> -j,i.�� 9. Inspection.Lender or iu agent may make rrawnable entrics upon and inspections of the Property. [.ender shall give � ,, .,? ',._ .�:,.. . �;..
<br /> Borrower notice at the time uf or prior to an inspection specifying reasonable rau+c fnr the inspeceion. ' ,
<br /> 10. Condemnation. The pmcetlds of any award or rtaim for damages. Airect �r cansequential. in connection witb�►Y --� r - -
<br /> . condemnation or other taking of any pare of the Pmpeny,or for convey:utce in tieu of condemnarion, are hereby assigned and •,, `,•� ^ `r �_c':�
<br /> � . shall 6e paid to Lender. . �� • •� ; _
<br />. In the event of a total taking of the Property,the proceeds shall be applied to the su�n�secured by tlris Seairicy�ment, .' '• .= ,:.: •`
<br /> ' whether or not then due. with any eacess paid ta Barrower. In the event of a panial taking of the Property ia wi�ich the fair . ";1F•. ."
<br /> � .:�;�'i;• m;�rket value of the Property immediately befure the taking is equal ti�or greater than the amount af the sums secar�ed bY shis �i,';..4� ` ';`•.,��'_.
<br /> >,.,,, �
<br /> Seturity instrument immediatelY before the taking,untess Borrower and Lender otherwise agree in writing,the sums secured by �'"t :• � � F :�',.:
<br /> ' � tttis Security Instrument shall be reduced by the amount oT the proceeds multiplied by ihe following fraction: (a) the total ,`f-,,.,;
<br /> - • amount of the swns secured immediately befam the taking. divided by (by the fair market value of the Property immediatelY ��.
<br /> � • before the taking. Any balance shall be paid to Borrower. in the event of a partiai taking of the Property in which the fair �� � -�
<br /> ` ,.��;�, market value of the Properry imsnediately before the taking is less than the amount of the sums�ecured immediately before the --—
<br /> _ • tatci�g� unless Borrower and Lender otherwise agree in writing ar unless applicable Inw atherwise provides,the pmceeds shall �� :-
<br /> �- � be applied to the sams secured by this Security Insirument whether or not the sums are then due. _. ''�'�'-
<br /> . :"� .�_
<br /> r��---
<br /> ' � If the Property is abandoned by Borrower,or if,after notice by Lender to Bonower that the mndemnor offers to make an , ; ..y�,,..__.
<br /> . :. •.�• ..':.: . ..
<br /> � ;� award or settle a claim for damages. Borrower fails to respand to[.ender within 30 days aftcr the date the notice is given, ..• ----�•
<br /> Lender is authorized w collect and apply the pmceeds,at its aption,either to restaratian ar repair of the Property or to the sums ` - �:�=�
<br /> � t secured by this Security Instrument,whether ar not then due. ' r����
<br /> � �•� Unless Lender and Borrower othenvise agree in writing, any appliration of praceeAs w principal shall not extend or , ' ' j'`;"::i=-`-'�;
<br /> . y .� . F�'�r.�
<br /> • . � - postpone[he due date of the moathly paymen[s ceferred to in paragraphs 1 and 2 or change the amount of such paymenu. _ :_,-�_ �.-
<br /> .�-_
<br /> - � � il.Borro�ver Not Reteased;Forbearaace By l.ender Noi a Waiver.Extension af the time for payment ar modifccation •- . �: �,�
<br /> � �
<br /> of amortization of the sums secured by this Security(nstn►ment granted by I.ender to any:�uccessor in interest of Borcower shal! �.. , ;� .�����
<br /> not operate to retease the liability of the ariginal Bonower or Borrower's successors in intcrest. L.ender shall not be required to ='���
<br /> �;--=
<br />. . ' cummence proceedings against any successor in interest ot refuse to extend time for payment ar othecwise modify amortization �?�,:
<br /> . •� � of the sums secured by this Security Instrument by reason of any demand madc by tho original Borrower or Borrower's ;" --_
<br /> : � � successors ia interest. Any forbearance by [.ender in exercising any right or remedy shall noi be a waiver af ar preclade tdie • '. ,s;� .
<br /> ' exercise of any right or remedy. ��. � . . `���
<br /> 1Z. Successors and Assigns Bound; Joint and Severaf Llabiltty; Co-signe�. The coven:cnts and agreements of this . ,�--:
<br /> _. _ ,-;._�_
<br /> _ _.. .. ._ Security Instrument shall bind and benefit the successors and assigns of Lender and Barrnwer, su bject to t he provisians of ..
<br />. paragraph 17. Borrower's covenants and agreements shall be joint and seversl. Any B�rrower wha co-signs this Security ,��.�-
<br /> ..����..
<br /> ' Instrument but does not exetute the Note: (a)is co-signing this Security Instrumem unly to mangage. grant and convey that . . _ ,�,_
<br /> Barrower's interest in the Property under the tenns of this Security tnstnuncnt:lb)is nnt pertii►nally obligated to pay the surru °. '��—
<br /> 's,�=^�.-,•-
<br /> . • � seeured by this Security Instrument;and(c>a�rees that I.endcr and any other Barrower may agrcc to extend,madify.forbear or _�;
<br /> " ., make any accommodations with regard to the term.r•af this Security Instrument or the Nate�yithout that Bonower's consent. �. _
<br /> • . 13.Loan Cha�es.lf the toan secured by this Security Instrument is subje�,�t tu a law which eet�maximum loan charges, �,`-�:
<br /> and that law is finally interpreted so that the interest or oiher loan charges collected or ta be collcctec! in c+mnectian with the s;,,; _�_
<br /> ..-�--
<br /> . � loan exceed the permitted limits,then: (a>any such laan charge shaU be reduced by the an►ount nece�+sary to reduce the charge . _
<br /> � to the permitted lirt►it;and(b)any sums already callected f'rom Borrower whtch exce�leaf permiued limits wiU be refunded to '. . �,�.y��M
<br /> • Borrower. i.ender may choose to make this refund by reducing the principal owed under the N�ite ar by making a direct r ..�,_,;f�.:
<br /> �� ' payment to Borrower. If a refund reduces principal, the reciuction will be treatecl �.� a Qanisl prepayment without any _ ,-._
<br /> �.:
<br /> • � ,� prepayment charge under the Notc. � .
<br /> • � 14.Noltces.Any notice tu Borrawer provided for in this Security Instrument shall he given by delivering it ar by mailing
<br /> � � it by first class mail unless applicable law requires use uf another method. The nMicY+hall t►e directed to the Pr�+perty Address .
<br /> or arty other address Borrower deyignates by notice to Lender. Any notice to Lender tihall be givcn by Grst cla�.y mail to .
<br /> Lender's address stated herein or any other address Lender designates by nuiice to Barrower. Any notice pr�wided for in this ,
<br /> . � Sccurity l�strument shall be deemed to have been given to Borrowcr<�r i.cndcr when given uti pruvided in Ihis par:�graph. , � ` � ..
<br /> 15.Guvernin� Law; Severability. This Security Instrumcnt �hal! bc g��vcmul by fcdcral law and the law of the . . . ..•:+� :
<br /> , jurisdiction in which the Property ic located. In►he event that any provision�u clau+e uf thi.r 5ecurity In+tn�mem �u the Nnte :. ,
<br /> ' conOicKs with applirable law. such conflict rhall not affect�nher provisions uf this Security Inytrumrut ur the Nute which can be : ,. ,
<br /> ' - � given effect without the wnflicting provision.Ta this enJ the provisicros of this Security In�lrument.ind the Note arc declareJ
<br /> � to bc scvcrablc.
<br /> 16.Bnrrowcr's Copy.&�rrowcr�hall bc given onc conformc+f cupy��f'thc Nutc and uf thi.ti�curity ln+trun�cnt. . •
<br /> • Farm 3028 9190 • � .
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