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<br /> pnymcniti muy nn li�u�:cr h�� rcquucd. rl Ilic npliun i�f l.rn�lcr, if m�irt�n�c insuruncc cuvcriigc (in thc wnount und fi�r thc period
<br /> . thut I.cndrr r4•quir��I pr��vidcd hy nn inyurcr uppruvcd hy l�:mlcr ugc�in hcrunu+uvail�iblc and i,ohtaincd. Burrowcr shull puy +
<br /> _ Uic premium� rcwiircd t�+ roi�intiiin mortgi�gc in+ur�mr��in uffcct.nr tn providc a lus,rescrvc. until thc requircment ti�r m�irtguge
<br /> insur;�nrc rnd� ina�•cardunrc wuh uny�vnucn agrcrmcnl bc�w��n fiurruwar<<n�l L�:nJ�r ur appli�ahlc la�v.
<br /> 9. Inspecllon, l.cndcr ur its ugcnt nury nu�ke rcasunuhle cntric+upon und in�pcctions of'the Property. Lcndcr shall give ,
<br /> ,,..�.�:r"'� Burruwcr noti�cai thc tinu uf ur priar tu an inspecti�m tiperifying rcasunuhlc ruu,c for thc intipcctian.
<br /> k�s� , 10. Conein!ini�dnn. The prarceds ��f uny award nr rluim f��r damages, direct or cunsequential, in cunnertion with any
<br /> condcmnutiun a�rnthcr taking of any purt of thc Prc�perty, ur f'or c�mvcyancc in licu uf ci�ndcmnatic�n, arc hcrcby assigncd and
<br /> shull bc paid te�Lendcr. �
<br /> In the evcn�ot'a totul tuking of the Propeny, the prucced.,hull be upplied to the sums sccured bp thi�Security Instniment,
<br /> whether or not ihen due, with any excess paid ta Burrower. In the event of a partial tuking of the Property in which the fair
<br /> mnrkct vulue c�fihc Property immcdiately bcforc the taking is cqual to or greutcr than the amount of the sums secured by �hi,
<br /> Securiry Instrunxnt immeciiately before thc taking, unless Aorrowcr and L.ender othenvise agrce in writing,thc sums sccurcci by ,�;-
<br /> this Security Imtrument shall be reduced by the umount of t6e procee,�is multiplied by the following fraction: (a) the total ,, _;
<br /> amount of the wnls secured immedintcly before thc taking, divided by (b) the fair murkct value of the Property immediately � °
<br /> before the taking. Any balunce shaU be paid to Borrower. In ihe event of a partinl taking of the Property in which the fuir —•
<br /> market value of�h� Praperty im�nediately before thc tuking is Icss than the amount of tlie sums secured immedia[ely before the �'__
<br /> taking, unless Borrower and Lender otherwise agrec in writin�or unless applicable law otherwise provides, the proceeds shall �_�
<br /> be applied to thesums secured by this Security Instrument whether or not the sums are then due. z
<br /> ' � If the Property is abandoned by Borrower,or if,after notice by Lender to Borcower that thc condemnor offers to make an �? -
<br /> t:,.
<br /> award or scttlea claim for damagcs, Borrowcr fails to respond to Lcnder within 30 days afrer the date the notice is given, a;;_
<br /> ,� Lender is authorized ro collect and apply the proceeds,at its option. either ro restoration or repair of the Property or to the sums _��_�_`
<br /> '�� secured by thisSecurity Instcument, whether or not then due. -
<br /> � ':: Unless L.ender and Borrower otherwise agree in writing,any application of proceeds to principal shall not extend or _
<br /> � pastpone the duedate of the manthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. �
<br /> � � .',;� I1.Borrorer Not Released; Forbeurar►ce By Ixnder Not a Wuiver. Extension of the time for payment or modification
<br />_,�,_� _
<br />- _ _ of amortizationof the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower s =
<br /> -'�` ' �"�' not operate to rclease the liability of the original Borrower or Borcower's successors in�nterest.►xnder snatl noi oe required io
<br />''' '�- ��`"''• commence proaedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization
<br /> ;"-.�����,'•;'��� of the sums secured by this Security Instntment by reason of any demand made by the original Borrower or Borrower's
<br />� :,ir.;.�.. ,. —
<br />_`-�;f��, successors in interest. Any forbearame by Lender in exercising any right or remedy shall not be a waiver of or preclude the
<br /> ;:�:--f:<:�: ' —
<br /> _,��� . exercise of anyright or remedy.
<br /> :_-,._v.�_
<br /> -_.,,,�� 12. Succaso�s and Assigns Bound; Joint and Several Liability; Casl�ners. The covenants and agrecme�its o t �s
<br /> _-� Securiry Instrvment shall bind and benefit the successors and assigns of Lc:nder and Borrower, subject to the provisions uf
<br />_ _.,:�� paragraph 17. Bonowcr's covenants and agreements shall be joint and several. Any Borro�ver wlio co-si�ns this Securiry
<br /> �,�;,.� instrument but does not execute the Note: (a) is co-signing this Security Intitrument only to mor[gage, grant and convey thut
<br /> -==�•'�'_+� Borrower's intemst in the Propetry undcr the terms of this Securiry Instrument: (b)is not personally obligated to pay the sums
<br /> -=='=�'�" secured by thisSecurity Instntment: and(c)agrecs that L.enderend any othcr Borrower may agrce to extend, modify,forbear or
<br /> ,.,.,�,,,��� make any accommodutions with regard to the terms of this Security Instrument or the Note without that Borrower's consent.
<br /> ---- 13.Loan Charges.If the loan securcd by this Security Instrument is subject to a law which scts maximum loan charges,
<br /> — and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the
<br /> �� loan excec�t�e permitted limits,then: (a)any such loan charge shall be reduced by the a�nount necessary to reduce the charge
<br /> ---- to the permiczed limir, and (b) any sums already collected from Borro�ver which exceedeci permitted limits will be refunded to _
<br /> �-= Borro�s�er. L�nder n�ay choose to makP �his refund by reciucing the principat owed under the Note or by making a direct �
<br /> �,� payment to Iiorcower. If a refund reduces principal, thc rcduction will be treatcd as a partial prepayment without any
<br /> _T_ prepayment cliarge under the Note.
<br /> 14.Notices. Any notice to Borrower provided for in this Security Instrument shall be given by dclivering it or by mailing
<br /> 9==� it by first classmail unless applicable law requires use of another method. The nntice shall be directed to the Property Address
<br /> '-''"•� or any other address Borrower designares by notice to Lender. Any notice to Lender shall be given by first class rnail to
<br />��`��'� L,endcr's aJdress stated herein or any othcr uddress [,ender dcsignates by nutice to Borrower. Any noticc provided for in this
<br /> � '`�`�� Security Instrument shall bc deemcd to have becn given to Bvrrower or Lender when givcn as provided in this paragraph.
<br />::;i;��+� _
<br /> l_'�`=-;,�,. I5. Goveming Lu�r, Severabllity. This Security Instmment shall bc governed by fcderal law and the law of the
<br /> �^=:��;;;.;;�, jurisdiction xn�vhich the Property is located. In the event that any provision or clause of this Security instrument ar the Note _—_
<br />- � . conflicts witt�applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be �,,
<br /> given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared �„
<br /> -' to bc scvcrable. �`
<br /> .� 16.Rorrorver's Copv.Borrower shall be given one ccmformeci copy of the Note and of this Security Instrument. �•x
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<br /> ' '"' Form 3028 9/90 �-
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