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<br /> , at the optian of Leader, if mortgage ie�surance coverage (in the amount and for the period that Lender ceqvims) �`',. ,� .
<br /> - < provided by an insurer approved by Le�tder again be�omes available and is obtained.Borrower shall pay the premiums • << t'°. ._.F:
<br /> • � required w snaintain mortgage easurance in effect,ot to provide a loss reserve. untit the sequirement for mortgage {�' : ` � •
<br /> , �- insurance ends in accordance with any written agreement between Eorrower and Lender or applicable law. � . � '
<br /> � • � `�� 9.Iaspectioa.Lender or its agent may make re.asonable�tries upon and inspectio�of the Property.Lender shall � . . . :<' �ti:-"
<br /> give Borrower nouce at the time of or prior to an inspection spP.cifying reasonable cause for the inspection. � � :; .`':
<br /> < -- - 10.Coadcmnation.The proceeds of any award or ciaim for damages,direct or conseq�:ential,in connection aith � ° ';
<br /> � � • << ' , any condemnation or other taking of any part of the Properry.or for oonveyance in lieu of condemnation,are hereby � � `" s� •
<br /> ' . assigned and shall be paid to Lender. � .
<br /> , � ' In the event of a total taking of the Praperty,the praaeds shall be applied to the sums secured by this Security � _ - -,
<br />�1` Instrument,whether or not then due.with any eacess paid to Borrower.In the�vent oi a partial taking of the Property ia � - - " �
<br /> ahich the fair market value of the Fsoperty immediately befor+e the taking ia equal to or geater than the amount of the �
<br /> ._ < sums secured by this Security Instrument immediately before the taking,urdess Borrower and Lender otherwise agree � . . ;.` _
<br /> � �.. �, � �' in wriiing,the sums secured by this 3ecuritp Instrument shall be reduced by the amount of the proceeds multiplied by . , :
<br /> `� ' • ti t h e f o l l o w i n g f r a c t i o n:(a� t h e t o t a l a m o u n t o f t h e s u m s s e c u r e d i m m e d i a t e f y be f o re t h e t a k i n g,d i v i d e d b}(b)t h e f a i r ` ' ��'`"' '�
<br /> . • market value of the Property immediately before the taking.Any balance shall be paid w Borrower.In t�e evem of a - , .. -� �
<br /> �.` partial taking of the Praperty in which the fair mar�Cet value of the Property immediately before the taking is lesa than . �.�`:'`'
<br /> ;`• , .
<br /> . , the amount of the sums secured immediately before the tagiag.unless Bonuwet and Lender otherwise agee in writing .4., .' _
<br /> or unlESS applicable law otherwise provides, the proceeds sha11 be applied to the sums sscured by this Se�urity �. -�`
<br /> •` � ' - _ Instrument whether or not the sums are then due. � �' `—
<br /> `4 � ' • If the Pro is abandoned b Borrower.or if.after notice b Lender to Borrawer that the condemnor offers to �,�:� `� . ���-
<br /> P�Y� Y Y >r.: '� .•t:_�
<br />-�`'..' .'', ::. �� :: make an award,or settle a elaim for damages, Borrower faits to respond to Lender within 30 daps after the date the .��_:. •_. . �..;t�
<br /> , notice is given,Lender is authori2ed w collect and apply the praceeds,at its option.either to restoration ar repair of th$ �-
<br /> . Property or to the sums secured 6y this Security Ynstrument,whether or not then due.
<br /> � �. o o 'se ee in w 't an a lication of roceeds w 'nci 1 shaU not estettd or ' :T��,�M-
<br /> Unless Lender and Bon nrer therw� agr n �ng, y pp p gn pa ., ,,;n:.
<br /> i�� �� • � 5��' postpone the due date of the monthly payments referred to in paragraphs 1 aud 2 or change the am4unt of such � �".±�,''`"���-'�
<br /> _ _ ._. ". . �;' payments. _. �• -'��:
<br /> : .�--
<br /> . � • • U. Borrower Not Released; Forbeatance By Lender Not a Waivet.Estension of the time for payment or , . . ��, �_�
<br /> . . _ . '�; modificaEion of amortization of the sums secured by this Security Instrument granted by d�nder to any succxssot in . Y =_
<br /> ; . .F i n t e r e s t o Y B a r r o w e r s h a l l n o t o p e r a t e t o r e l e a s e t h e l i a b i l i t y o f t h e o r i g i n a l B o n o w e r o s B a r r o w e r's s u c c e s s o r s i n '_� f ��u,
<br /> ' � . interest.Lender sha11 not be required to commence proceedings against any successor in interest ar refi�se w estend �,�,. '` =�-
<br /> - .. ' � time for payment or otherwise modify amortiiation of the suYns secured by this Security Instrument by reason o f any • ` ' ' 't`'�
<br /> - . � demand made by the original Borrower or Borrower's sucees.sors in interest.Any focbe�rence by Lender is�esercising , .� `� � .,;;>�
<br /> �;ti , any right ot remedy shall not be a waiver of or preclude the etercise of any right or remedy. , . �`•.:,..
<br /> 12.�uccessors aud Assigns�ound; ]oiat and Severel Liability;Ca-sigaere. The covenants and age8ments '�°"�:-
<br /> .'� � . of this Security Instrument shall bind and beuefit the successors and assigns of Lender and Borrower,subject to the � . `�'_'
<br />'='.�{'- " � • � provisions oi paragraph 17.Barrower's covenants aad agre�ments shall be joinE and several.Any Bosrower who co signs -
<br /> ' ,. �.
<br /> ' this Security Instrument but does not execute the Note: (a)is co-signing this Security Instsument only to mortgage, , _��.:
<br /> ' grant and wnvey that Borrower's interest in the Pcoperty under the tetms of this Securitq Instrument; (b) is not . . '?:T:,
<br /> , � �� � personally obligated to pay the sums secured by this Security Instrument;and (c) agrees that Lender and aay other � - ���i�:
<br /> Borrower may agree to estend,modify,forbear or make any accommodations with regard to ihe terma oY this Security ' _
<br /> � , ..� Instrument or the Note without that Borrower's wnsent. • -
<br /> .'� 7 � 13.Loan Charges.If the loan secured by this Security lnstrument is avbject to a law which sets maximum loan ' •' =
<br /> . . � charges,and that law is finaUy interpreted so that the interest or other loan charges collected or to be collected in � � =
<br /> _ .,, . conrtection with the loan eaceed the permitted limits,then:(a)any such loan charge ehall be reduced by the amount •
<br /> - .�;; � necessary to reduce the charge to the germitted limit; and (b) any sums already collected from Borrower which � . �.
<br /> � � �r esceeded permitted limits wiU be refunded to Borrower, Lender may choose to make this tefund by reducing tAe '- . . .
<br /> . � principal owed under the Note or by making a direct payment to Barrower.If a refund reduces principal.the reductioa , � ;
<br /> , w•itl be treated as a partial prepayment withoutany prepayment charge under the Note. �,_;.., .
<br /> _ 14.Notices.Any notice to Borrower provided 4or in this Security Instrument shall be given by delivering it or by � • .
<br /> - � ' - �� mailing it by first class mail unless applicable law requires use of another method.'I'he notice shall be directed to t�:e � � .:
<br /> Property Add.-�,s9 or any other address Borrower designates by notsce to Lender.Any notice to Lender shall be given by . . • ..
<br /> ` ,• � ' fsrst class mail to Lender's address stated herein or any other address Lender designates by notica to Borrower. Any: •. �� .�
<br /> �� ��� � � . r.Qtice provided for in this Security Instroment shall be deemed to have been gi�•en to Borrower or Lender when given �
<br /> � �x � as provided in this paragraph. � �
<br /> � �,.�i 15.Goveming l,aw;Severability.This Security Instrument shaU be governed by federal law and the law of the_s � �
<br /> ��'� jurisdiction in which the Property is located.ln the event that any provision os clause of this Security lnstrument or t?:e
<br /> �� � t� Note conflicts with applicable law.such conflict shall not affect other provisions of this Security lnstrument os the Not�! ', �
<br /> ,. �.
<br /> - which can be given effect without the conflicting provision.To this end the provisions of this Security Ir.sttument and � .
<br /> � the Note are declared ta be severable. . ' � '
<br /> .�' � • �
<br /> ' . ,,,y Form 3028 • 9/90 �
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