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<br /> `� `,., � , payments may ao longer be regoired.at the optioa of Lendrr.if moagage insurance coverage(in the amount and for the periad � ,
<br /> . , . thaz Lender requires)Provided by an insurer approved by Lender again becomes ava�7abie and is obtained.Borrower shall pay
<br /> the premiums required w mamsain mortgage insurance in effect.or to pmvede a loss reserve.unul the:equitemcnt for moagage �•
<br /> ` � iasuranoe ends ia accordanse with an}r written agreement between Bomuwer antl Lender or applisable law. �
<br /> .�� .. .. , 9.Inspedioa.Lendee or its ag�may make reasonable enuies upon aad mspectioas of the Property. I.eader shail give �� .
<br /> �--�? Borrower notice at the ame of or prior to an inspectioa specifying reaconabte canse for the inspecxioa. � ,r
<br /> �•L . 4 .:.'�:�':�` 10.Condeutnattoa The pmceeds of au}+awazd or claim for damages,direct or conseq�ienrial. in cormection with any _ . . ,
<br /> '� -- _ - condeumatioa or other taking of azry part of the Praperty,or for conveyance in lieu of oondemnation,are hereby assigned aad � < =�� _ _
<br /> ` —.� shall be paid w lender. � ,. �
<br /> . � Ia the event of a total taldag of the Property,the proceeds shall be applied to thc sums secured'uy this Securiry Instrumeat, � `� � . .
<br />..�5. � ' • - .. . .i �,
<br /> , -. whether or tmt then due,with any excess paid to Borrower. Ia the event of a partial taldng of the Propeny ia wLich ttte fair �
<br /> ':�=': - � ` :� market value of the Pmperty immediately before the taking is eqaal to or greater thaa the amount of the smps seaued by this � . ,
<br /> £'� ' '' Security Instrument immediazely before the tatdng,unless Borrower and L.ender otheiwise agree in writing,the sums soca�ed by � y.•._ .;,
<br /> _ • �4�� this Secutity lnsuwnent shaU be reduced by the amoant of the pmoeeds mnitiplied by the following fracaon: (a)the total ,:: �
<br /> - . . . , "� amount of the swns seaued immediatelY before the taking,divided hy(b3 the fair market value of the Properry;mm�,t;�rP1y .,t;�;,�.
<br /> . . `�>�
<br /> - • � before the ta�ng.Any balance shall be paid w Borrower. In the event of a partial taking of the Proper[y in which the fair . ,
<br /> :i' . ' ' market vaIue of the Property immediately befoie the takiag is less than the amaunt of the sums secored immediuely before the '<<, �'�. .:,:;=~.
<br /> ;.J.;:. , takiag,uatesg Borrawer aad Lender otherwise agcee ia writing or unless applicable law otherwise pmvides.ths pmceeds el�aall �.�ra-
<br /> "�:.. � be applied to the sums secured by this Securiry Insuument whether or not the sums are then due. „
<br /> ;: . , . �
<br /> �;; . . - If the Pcaperty is abandoned by Borto�ver,or if,after notice by Lender to Borrower that the coudeamnr offezs to nnake an _=.
<br /> �: ,
<br />.;�i awud or settle a claim for damages. Borrower fa�s to respond to Ixnder within 30 days aher the date the notice is given, 'ti,. `L_
<br /> . . Lender is authorized to collect and apply the prooeeds,at its option,either tm cestoration or repair of the Property or to the s�ms ... ;.:.�,
<br />��,. • .. -- : securetl by this Sxarity r„am��t,ahaher or nat thea due. -
<br /> .J Unless Lender aud Borroaer otherwise agree ia writing, any apPlication of pmceeds w principal shall not extend or � �
<br /> _ �; �,'�_
<br /> . ` � y pnstpb�the due date of the monthly paymenu referred to in p�agrapl�s 1 and 2 or change the amount of such paymems. . "
<br /> ���`,' �� � � '� � �� ii.Borrower Not Released;Forbesrar�ce By Le�der Nat a V6►aiver.Extension of the time for a t or modificatian . ':'`'.���"'"-`-
<br /> P Y� �:-«
<br /> �; : . •. .... of amor�on of the sums secured by this Security Insaument granted by L�nder to any successor in in�t of Borrower shaU :�--
<br /> _ ,w.�
<br /> ' ' ' ' + aot opente to release the 1"sabiliry of the originat Bo:rower or Borrower's successors in interest. Lender shaU not be mquired to .-:-_.__
<br /> ;�'; . � commeuce mceedings against any successor in interesc or refuse to extend time for payment or otherwise taodity amortirat�on ' �. �4'*=�:�'
<br /> p „ f_�w..�:
<br /> � � . ' of the sums secured by this Security Insnwnent by reason of az�y demaud made by the original Borrower or Borrower's °` �^��*-
<br /> : ` ' ������-
<br /> .•:..� • ."; successora ia interest. A�+forbearance by Lender in eaer�ising any right or remedy sLall not be a waiver of or preclude the ��
<br /> eaercise uf any right ar remedy. f`
<br /> �'>'�� ; 12. Succes�ors aad Asstgns Bo�md.Jotat and 3everal LiabIIity: Co�sfgners. The covenaats and agreementa of this ,".-�'�
<br /> . .� _.
<br />- . , . � • Se�uriry Insm�ment shall bind and benefii the successo�s and assigns of Leader and Borrower, subject w the gmvis'sans of ��`-
<br /> r.•,; ' . . para� 17. Borrower's covenauts and agreemenu shall be joint and several. Any Boaower who co-slgns this Security .,•.:;;'�,
<br /> . . Instmment but does aot execute ttte Note: (a)is co-s9guing tla�s Securiry Insuument only ta mongage,grant aad oonvey that . _
<br /> � ' Boaower's interest in the Property under che terms of this Securiry Instrument; (b)is not personally obligated to pay the snms , :� •�":s R�:
<br /> secured by this Security Ia4uument;and(c)agrees that Leader and any other Borrower may agree to extead,modify.forbear nr . '==°
<br /> � � �� make any accommodations with regard to the terms of�his Security Instnunent or the Note without that Borrower's consent. ." '�' "
<br /> ,. �.,,.,
<br /> � , 13.l.oan Charges.If the loan secured by this Security Instnunent is subject to a law which seis maximum loan charges. , . ,.,,�"�
<br /> � ' � , aad that law i�finally interpreted so that We iaterest or other loan charges collected or to be collected in connection witl�the ' . __
<br /> ' loan exceed the pernritted limits.then: (a)any sucb toan charge shall be reduced by the amount necessary to reduce the charge ;. . . �� =�-
<br /> _;, �. � to the permiued liwit;and(b)any sums already collected from Borrower which exceeded permitted limits will be refimderl to '. ��=
<br /> ��-•-' .� - Bomower. Lender may chuose to make tLis nfuud by redusing the princ'spat owed under the Note or by makiag a direct - -
<br /> - , payment to Borrower. If a refund reduces principal, the ses�uctton will be ueated as a partial prepayment withous any '
<br /> ?�-.� � prepayment charge uader the Note. � .
<br /> � �. � • '•� 14.Notices.My notIce to Borrowez provided for in this Security Instrument shatl be given by delivering it ar by mailing •
<br /> . � it by first class mail ualess applicable law requires use of another methad.The notice shall be directed to the Property Address . , ,.
<br /> . � : _ { or any other address Borcower designates by notice ro Lender. Any notice to Lender shall be given by first class mail to � •.
<br /> Lender's address stated hercin or any other address Lender designates by notice to Borrower. Any nouce provided for in this . • . ,
<br /> ;,,.;`• . � �. 1 Security Instn�meat sAa11 be deemed to have been givea to Borrower or Lender when given as provided in this paragraph. ,
<br /> .�- °� � � 1S.Governing Law; Severability. 7'his Security instrument shall be goveraed by federal law and the law of the � � , .
<br /> : . : .; jurisdiction 9a which the Properry is lacated. In the event that any pravision or clause of this Security Iasuvment or the Nose .. ,.
<br /> . coaflicts with applicable law,such conflict shall not affect other provisions of this Security Insnument or the Note which can be ,
<br /> _ given effect without the conflicting provision.To this end the provisions of this Security Instrumen[and the Note are declared . : :
<br /> . .� to be severable. � ..
<br /> R:'.
<br /> �' .: . ' 16.Borrower's Copy.Boaower shall be given one conformed copy of the Note and of this Securiry Instruatent. �
<br /> � Form 3028 9/90
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