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<br /> ,,z� ; payments may no longec be tequired.at the option of Lender,if mortg,age iasuiance coverage(in the amount and for the periad � � •:
<br /> , .,,.� - tbat Lender �equires)pmvided by an insurer approved by Lender again beoomes available and is obtained.Borrower shall pay � � ��,,r �... : �'-
<br /> ' • the piemiums required to maintain mortgage insuiance in effect,or to prwide a loss reserve.until the requiiement for mortgage � .
<br /> , .. ':." insurance eads in accordance with any wriuen agteement betwe�n Borrower and Lender ar appGcable law. ".•.�,� . ,�•;
<br /> . . � � ,
<br /> : .. - 9.Inspes�tnn.Lender or iu agent may make reasanable entries upon and insQections of the Property. Lender shall give � .
<br /> ,L � � , ;t, i<'�:' ° � .'
<br /> � � Bormwer notice at the time of or prior to an inspectioa specifying reasonable canse far the inspection. � �� �
<br /> . .-.y'"�'� ` 10. CondemnatFoa.The proceeds of any award or claim for damages,direct or wnsequential. in wnnecrion with a�ay ' ti • -
<br /> ..,�,----:. . , .- �
<br /> :" condemnation or other taking of any part of the Property,or for oanveyance in lieu of condemnation,are hereby assigued and � Y: .�
<br /> "r_. .
<br /> r _:- - - shall be paid to I.eader. __ _._
<br /> . � In thc event of a total saldng of the Property,the prnceeds shall be applied to the sums secured by ttris Set�riry Instrome�tt, ;.:•�,
<br />'�`' r � whether or not then due,with any excess paid to Borrower. In the event of a partiai talting of the Property in which the fair ��"F"
<br /> ,� � market value of the Property immediately befoie the tatring is equal to or greater than the amount of the sutns secv�d by this . , r�� °
<br /> ,�.: �_,:.., . _'`:;!� Sec�vity Instnunent immediately before the taking.unless Borrower and lxnder otherwise agree in writing,the sums secured by � u ` -
<br /> �<:� ° • this Security jnstrament sf�all be reduced by the amount of tke proceeds mWtiplied by t h e fo llowing f t a c t ion: (a) t he to t a l _ -
<br /> . , .: . " amount of the sums secured immediately before the taking.divided by(b)the fair market valae of the Piaperty i m m e d l at e ly ����" '
<br /> �.�': ;. .• before the taking. My balance shall be paid ta Borrower. In the e�:ent of a partial taking of t�e Property in which the fair f�'•,.,:_
<br /> martcei value of the ProFerty immediatelY before the talong is tess than the amount of the sums secuied immediately befote the
<br /> ,.;��". �.`' � taking,euiless Horrower and Lender otherarise agree in writing or uB2ess applicable law otherwise pmvides,the proceeds shalI . .`.��_ __ —
<br /> .. . � be applied to the sums seauad by this Security Instrument whether or not the sums are ti�en due. _-
<br /> � .�. " �` Yf the Property is abandoned by Borrower,or if,after notice by Lender to Bnrrower that the condemnor offeis to make an ` . -
<br /> :,'�:t.•,.:.�. _ �.;..Y: award or settle a claim far damages, Borrower fails to respond to I�nder within 30 days after the date the notice is given, ""._-
<br /> `'��'`; Lender is suthorized to collect and apply the praceais,at its option,eiYher to restoration or repair of the Property or to the sums .� �' ,:r;:___
<br /> � secured by dus Security Insavment,whether or not then due. ��
<br /> ' ' �' Unless Lender and Borrower othen�visa agrce in writing.any application af proceeds to principal shaII not extend or - �
<br /> .�,.' . '`��`' postpone the due date of the montlily payments referred to in,paragrapfis 1 and 2 or change the amount of such payments. ��� ; �i"�.=:.
<br /> ��%� il.Borrower Not ReTea4ed;Forbearance By Lender Not a Waiver.Emension of the riu�e for payment or mod�cation ��;,�,,„� .�;
<br /> ' � °�j` of amortization of the sums s�red by this Security Inswment granted by Lender to any successor in interest of Borrower shall
<br /> ,, ..,".+',8,�.`�r_:
<br /> ... , not operate to celease�he liabitity of the original Borrower or Borrower's successars in interest.Lender shall not be requir�to �:.-«.�„
<br /> . . :. _.,..�_�._.r..,::
<br />" `. - - -- • - commence proceedings against any successor in interest or refuse to extend time for paymeut or otherwise modify amartization • , =�-
<br /> •�,, , • , • �•'��,',: of the sums secured by ihis Security Instrument by reason of any demand made by the arigiaal Borrower or Borrower's �' .�__,__:�
<br /> �.:s'. .:;..,:._-�'
<br /> ,�+ �: '';�, successors in interes� Any for6easance by Ler.der in exercising any right or remedy shall not be a waiver of or preclude the .,�-�--
<br /> . "¢` exercise of any right or remedy. ��' '
<br /> '� -"�< :"' 12. Suocessors aad Assigns Bound;Jo3nt and Several Liability; Co-sfgneis. The cuvenants and agreements of this •s �;,,�_
<br /> ' , ': ' Security Insuument shall bind and benefit the successors and assigns of Lender and Borrower. subject to the provisiaas of ,.,.. '"'a�--�,r.,,
<br /> • . . ' • paragraph 1?. Borrower s covenants and agreements shall be joint and several. Any Horronrer who co-signs this Securiiy ' ��°
<br /> - ' � Insnvment but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that j"'" '".,`°, x
<br /> ' " � Borrower's interest in the Pcoperty under the tertns of this Security Instrument;(b)is not personally obligated to pay the sums _ �_�°`��
<br /> �_,,.:_.�
<br /> ... ..f: .•..-''.
<br /> ` . � , secured by this Security Instrument;and(c)agrees that Lender aad any other Borrower may agree to extend,modify,fotbeat or - .�=r;"
<br /> . make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. �`"��':n
<br /> . •� 13.Loan Chaigeg.If the loan secured by this Security Irumiment is subject to a law which sets maximum loan charges, . ,�`'° _
<br /> . . ' . �. and that law is finatly interpreted so that the interest or other loan charges wllected or to be collecte�f in connection with the , �,,�''���._
<br /> ,;:, loan excrRd the permitted timiu.then: (a)any such loan charge shall be redaced by the amaunt necessary to reduve the charge '_'�`�-'
<br /> � . . to the permitted limit;and(b)any sums already collected from Borrower which exceeded permitted limits will be refunded to �•��:.�.:.;,-..�'�`°'
<br /> , . Borrawer. Lender may choosc to make this refund by reducing the principal owed under the Note or by making a direct : �-_
<br /> ' . payment to Boaower. If a refund reduces principal. the reduction will be rrrated as a partial prepayment without any =,_�
<br /> . � . prepayment charge under the Note. • �
<br /> � � 14.Notices.Any notice to Borrower provided for in this Security Instrument shall be gir•en by delivering it or by maiting • _
<br /> '��� � . : it by first ctass mail unless applicable law requires use of another method.The notice shall be directed to the Property Address • . _
<br /> . . or any other address Borrowcr dcsignates by notice to Lender. Any notice to l.ender shall be given by first class mail to -,- �_ --
<br /> � ' . ' I.ender's address stated herein or any other address Lender designates by noti�to Borrower.Any notice provided for in this . ,
<br /> '. � � Security Instrument shall be deemed to have been given to Bonower or Lender when given as provided in tius parap,raph. • •
<br /> • ; • ' 15.Goveraing Law; Severabtli�. This Securiry instrument shali be governed by federal law and the law of the � '
<br /> . • , jurisdiction in which the Properry is located. In the event that any provision or clause of this Security Insuument or the Note �•
<br /> .. conflicts with applicable law.such conflict shall not affect other provisions of this 5ecurity Instn�ment or the Note which can be . .
<br /> . _ given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Notc are declared .
<br /> . • to be severable. �
<br /> ''' 16.Borrotver's Copy.Borrowcr shali be given onc wnformed copy of the Note and of this 5ecvrity lnstrument. . � '
<br /> ' ' ' , Form 3028 9/90 ��
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