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<br /> � ' payments may no tonger b�requ�ed.at tiie option of Leader,if mortgage insurance cuvetage(in the amount and for t�e period , . .
<br /> that Lender requires)Pmvided by an insurer approved by ixnder again ba�oraes available and is obtained.Borrower shaU pay � u�
<br /> ' �e p���equirecl co maincain mortgage insurauce ia effect.or to provide a loss tesen►e.untel the requirement far mortgage ,. , r '
<br /> ��ends in acco r d a nce with any written agreement betareen Borrower and Lender or applicable law. .
<br /> ,:_-�-� 9. Inspec4ton.Lender or its agent may make reasonable entries upon and inspections of the Property.Lender shall P,ive - _.. _
<br /> � gorrower notice at the time of or prior to an inspecciun sPeciFYiaS r��ie cause for the insgection. r :=.r
<br /> ... 10. Conde�nnation. The proceeds of any award or claim for damaSes.direct or consequential. in connecxioa with any , ,.� _, `_` ,r
<br /> ':, �.,�.
<br /> , � condemnation or other taking of aay parc of the Property,or for coaveyance in lieu of conctemnation.are hereby assigned and � .1
<br /> `.1 ` shall be paid co l.ec[dei. in .ment - '
<br /> s . In the event of a total taking of the Property.the proceeds s1�a116e applied to the sums serured by this Seruriry���� : �
<br /> whether or not then due, with any exsess paid to Borrower. In the event of a partial taldng of the Property � . '��;�
<br /> � market value of the Pmperry�mmediatety 6efore the taidag is equal to ar gteater than the amount of the sums secured by this `�_�`,. ._hr,_,
<br /> . � .' Sec�uitY Insuume°t immediately before the taking,unless Bormwer and Lender otherarise ag�ee in writing,the sums secured by � •-,-�. ,-
<br /> `* �is gecutity Instnunens shall be reduoed by the amount of the praceeds multiplied by the following fraaion: (a)the total - "� ',.:
<br /> •-.,�-;
<br /> � � amnunt of the sums secured immediazely before the takiag,divided by (b) the fair market valne of the I�roperty immediazelY .. _
<br /> � . . � before the talsing. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in wiuch the fair . : . ' _
<br /> ;{'` • ,.; r• market vaiue of the Property immediately before the talring is less than thc amaunt of the sums secu�+ed immediatelY before the .
<br /> . *. _
<br /> talcing,unless Eosower and Lender othecwise agree in wridng or uniess appHcabte law otheiwise pmvides.the proce2ds shall ��s; ..
<br />_ . be applied to the sums secured by this Securiry Instrument whether or not the sums are then due. � -
<br /> _ . _ ..-- If t6e Property is abandoned 6y Borrower.or if.after notice by Lender to Borrower that the condemnor offecs to make an :•h..;..s:�.. '- - -
<br /> �; � � ' awazd or settle a claim for damages, Burrower fa7s to respond to Lender wiihin 30 days after the date the norice is givea, -�- _` , __
<br /> � � �`r L e n d e r i s authorized to coAect and apply the Praceeds.at its option,either w re.scoration or repair of the Property or to the sums . ;-�
<br /> _ � '. secured by this Securiry Instrument,whether or not then due. � -_x
<br /> hcation of mceeds to rina al shall not eatend or '� "'.
<br /> '' - Unless L�►der and Boirowet othsiwise agree in writinS• anY aPP� p p p ,� t ` `� -
<br /> �,'�y . � postpone the due date of the wont6ly payments referred to in paragraphs 1 and 2 or change the amount of such paytneuts• _ ..'..�,=,s..��.
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<br /> � 11.Bormwer Not Re[eased:Forbearance BY I.ender Not a Waiver.Extension of the time for payment or modificatlon 5_____
<br /> . � ..a. ---�
<br /> � � , of aznorri7ation of the sums secvred by this Securiry Instn�ment granted by Lender to any successor in interess of Bosrower shall : �_=��
<br /> ` • not operate ta release the liabiliry of the original Borrower or Borrower's successors in inte�st•1.euder shall not be required to �r=m�-°
<br /> �•; ����pI�ings against any successor in intemst or refuse to extend tune for payment or otherwise modify amottiratioa . �,.__
<br /> "' � ' �•..? of�� �y Se�red by thi.s gerurity Insuument by reason of any demand made by the origiaal Bormwer or Borrower's �*
<br /> ' su�ors i�intetest. Any forhearauce by I.ender in exercising anY right or remedy shall not be a waiver of or preclude the �:�"
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<br /> � � . � - exercise of any right or remedy. � �.�
<br />._,��;.., :. � ., . �: _ 12. Successors�na As.slgas Bound;lotnt and 5everal Lia6ility; Co-signers. 7'he covenanu and agreements of this �;;---�.�`�.
<br /> ' ` gecurity Instrumeat shaU bind and benefit [he successors and assigns of Leader and Borrower, subjea to the pmvisions of .,.,,�
<br /> �; �- paragraph 17. Borrower's covenants and agreemenu shall be joint aad several. Any Burrower who co-signs this Security . ,�.�4_
<br /> ' � Instrument but does not eaecute the Note: (a) is co-sigain8 this Securiry Iasuumeut only to mortgage.grant and convey that _��y;_
<br /> • Borrower's interest ia[he Properry under the terms of this Serurity lnstrument; (b)is not petsonally obligated to pay the sumg ;':�,;,:.
<br /> a u-
<br /> secured by this Seca�riry Inswment;and(c)agrees that l.ender and aay other Bonower may agree to eMend,modify,forbear or R
<br /> ' make an,y accommodations with regazd to the terms of this Security Instrumec►t or�he Note without that Borrower's consent. •T:,;�.y,
<br /> , , • 13.Loan Cha�es.If the laan secured by this Securiry tnstzument is subject to a law which seu maximum loaa charges. '. :�.�,;:.;y���':
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<br /> ' ` � and that law is finally u►terpreted so that the interest or other loan charges collected or to be colle�cted ia counection witb the �.-
<br /> � � • loan exceed the permiaed limiu,then: (a)any such loaa charge shall be reduced by[he amount necessary to reduce the charge , _
<br /> • � to the permiaed limit;and(b)anY sums alreadY�°»ected from Borrower which exceeded permlttad limiu will be refunded to
<br /> • " Borrower. Lender may choose to make this refund by reduciag the principal owed under the Note or by making a direct � ,� "�
<br /> t• - , � payment to Boaower. If a refund reduces principal, the reduction will be treated as a partial prepayment ariihaut any �"'_
<br /> ' �� prepayment cbarge under the Note.
<br /> ' 14.Notices.Any notice to Bonower pmvided for in this Security lnstrument shall be given by delivering it or byA�� .�•�:�. •,
<br /> . � � it by first class mail unless applicable taw requires use of another method. The notice shall be directed to the Properry � ,
<br /> < <- • or any other address Bonower designates by notice to l.ender. My notice to Lender shall be given by first class mail to
<br /> ' Lender's address stated herein or any other address Lender desi�aates by notice to Boaouer. My notice provided fc:in this •
<br /> Securiry Insuument shall be deemed to have been given to Borrower or Lender when given as provided in this patagraph. ; �
<br /> 15.Goveming l.aw; Severability. This Security Instrument shall be govemed by federal law and the law of the • ,
<br /> , • jurisdiction in which the Properry is focated. ln the event that any provision or clause of this Securiry enstrument or the Note .
<br /> conflicts with applicabte law,such conflict shall not affect other provisions of this Security lnstrument 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 aze declased • •
<br /> • � to be severable. � • •
<br /> 4 16.Borrower's Copy.Borrower shall be given one wnformed wpy of the Note and of this Security instnunent. .
<br /> . Form 3028 9/90 �
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<br /> ��BVINEI�92���.oi
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