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<br /> nt the optic�n ot I.ender, it mortgage insurnnca coverage (in the amount end for the period that Lender requires) .
<br /> � . pravided by an insurer approved by I.ender a�ain becomes aveilable and ie obtained. Horcower ehell pay the premiume �
<br /> required to maintain mortgage ineurance in eYfect,ar to provide a loss reserve,until the requirement for mortgage
<br /> ineucanc�ends in accordance�viili an3�tisritten agreement bet�veen Borro�ver rsnd Lender or applicnble lnw.
<br /> 9. Inspectian.Lender or ite agent may make reasonablo entriea upon and inspections of the Property.Lender ehall f ,•
<br /> ..� . give Horrower notice at tho time of or privr to an inapection epecifying reesonable causa for the inepection. � �
<br /> �• 10. Condemnetnon. The proceeds of eny award or claim for damagea, direct or consequential,in connectian with
<br /> eny condamnation or other taking of eny part of the Property,or for canveyance in lieu of condemnation,are hereby
<br /> assigned and ehnll be paid to Lender.
<br /> In tha event ot a total taking of the Property,the proceeda shall be applied to the sums secured by this SecuiYty • .
<br /> Inatrument,�vhether or not then due, with any excess paid to Bonower.Inthc avent of a partial taking of the Property in ,; . -
<br /> which the fair market value of the Property immediately before the taking is oqual to or greater than the amount of the ' �'°Y��
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<br /> sume secureri by thie Security Instrument immediately before the tekin�,unlrsa Borrower and Lender otherwiso agree . _=-�'��__`-
<br /> �� in writing,the surne secured by thia Security Inetrument shall be reduced by the smount of the proceeda multiplie3 by ; �'r��:..•
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<br /> the following fraction: (a) the total amount of the aums secured immediately before tha taking,divided by (b) tha fair �,_
<br /> merket vnlue o[the Property immediately before the taking.Any balance shell be paid to Borrower. In the event of a =--
<br /> .. partial taking of thc Property in which the teir market value of the Property immediately before the teking is less then _�
<br /> tha amount of the euma secured immediately bsfore the taking,unless�3orcower and Lender otherwise agree in Nriting � ��—
<br /> " or unless applicable law otherwise provides, the proceeda shall be applied to the sume secured by thia Security <..�, =�`�
<br /> Inatrument whether or not the sums are then due. ' � �_��=
<br /> If tha Property is abandoned by Boreower,or if,after notice by Lendar to Borrower that the condemnor ofiers to .:�,_-'— _
<br /> make an nward or settle a claim for demages. Bonower feils to respond to I,enAer within 30 days after the dete the �s�x: —
<br /> ; notice ie given,I,ender ie authorized to collect and apply the proceeds,at ite aption,either to reatoration or repair of the . � �
<br /> ,; .� Property or to the sume secured by thie Security Instrument,whether or not then due. ��_ :���•
<br /> Unless Lender and Borrower otherwise agree in writing,any application ot praceede to principal ehall not extend or �'��
<br /> " pc�stpoiia the due date of the monthly paymenta referred to in para�reptae 1 snd 2 or change the amount ot such
<br /> �• paymen*.s. ':
<br /> �� 11. Borrower Not Releasvd; Forbearance By Lender Not a Weiver. Extension of the time for payment or f
<br /> _ _.J : mndiPicatinn of r+mortization of the sums secured Uv thie Security Instrurnent�ranted by Lender to any successor in � �
<br /> ` � interest o4 Borrower shall not operate to release the liability of the origi nal Borrower ar Bonower'e successora in s;
<br /> :� ' interest. I.endar shall not be required to wmmence proceedinga agairiet eny auccessor in interest or refusa to oxtend ',.; '�
<br /> ; ,� time far payment or otherwise modify amorti zation of the suma secured by this Security Inatrument by reason ot any �,'. •
<br /> demand made by the original Bonower or Bonower's successors in interest,Any forbearance by Lender in exercising � '�_'_
<br /> any right or remedy shall not be a waiver of or precluda the exPrcise of any ri ght or remedy. � ^�-
<br /> 12.Successora and Aesigns Bound;Joiat snd 5everal Liability;Co•siga�re.Tha covenents and agreemente �� ':�-�-
<br />. , oY thie Security Inetrument ehall bind and benefit the successore and assigns of Lender end Borrower,eubject to the i�
<br /> provieions of paragraph 17.Borrower's covenante and Agreements e�hall bejoint and sev�ral.Any Bonowar who co'signe _
<br /> ' thie Security Instrument but doea not execute the Note: (a) is co-eigning this Security Inetrument only to mortgage, �
<br /> gtant and convey that Bonower'e interest in tha Property under the terrma of tlus Security Instrument; (b) ie not --
<br /> • personally obligated to pay the suma secured by thie Security Instrument: and (c) agreea that I.ender and any other 11 .,��
<br /> . Bvrrower may agree to extend,modify,forbear or meke any accommodetione with regard to the terme of this Security �-
<br /> . Inatrument ar the Note without that BonoNer's consent. �'�
<br /> � � `" 13. Loan Cher es. If the loan aecured by this Securit Instrumentie aub'ect to a law which sets maximum lcsan Rf�
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<br />_, � charges, and that lew ie finally interpreted so that the interest or ott�er loan charges collected or to be collexted in �,-_�
<br />� connection with the loan exceed the permitted limits,then: (a) any such loan cbarge ehall be reduced by the amovnt �z-
<br />_;,. , necessary to reduce the charge to the permitted limit; nnd (b) any ewns already collected from Borrower which `�°
<br />- exceeded permitted limite will be retunded to Borrower. Lender may choose to mako thi� refutid by reducing the �__�:°�—_-----=---
<br /> rinci al owed under tha Note or b mekin a direct ment to gionower. Ita refund reduces rinci al,the reduction � •-- --__._`_==
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<br />�. , P P Y g PaY P P �:-
<br />- - will ba treated as a partiel prepayment without any prepayment charga under the Note. :;:r�.
<br />_� ' ..,. ' 14. Natices.Any notice to Borrower provided for in this Sxurity Inetsument shall be given by delivering it or by �__ ---,�
<br />_- mniling it by firsi class mail unless applicsble law requires use of another rnethod.The notice ehall ba dirxt�d to tho - ._—_
<br />= Property Address or any other address$onower designntes by notica to Lender. Any notice to L.ender shall be given by �';------ _
<br /> � first class mnil to I.ender's address stated herein or any other address Lcnder designaus by notice to Bonower. Any __- —
<br /> 3 . notice provided for in this Security Instrument aha11 be deemed to have been given to Bonower or Lender when givon �:�-�— �
<br /> . esprovided inthisparagraph. �:`:� � t�y,, ,;.x4_.
<br /> � I5. Governing Law;Severability.This Security Inatrument ehall be governed by federal law and the law of the � �":-
<br /> jurisdiction in which the Property is located.In the event that eny provieion or clause ot this Security Instrumentar the � � ._., �+=`�+'!��_
<br /> Note con4licts nrith a licable Inw,euch conflict shall not affect other rovi�ions of this Security Instrument or the Note . , . . "r ':'''
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<br /> ' which cun be given effect without the conflicting provision.To this end the provieions of this Security Instrument and . �
<br /> , the Note are declared to be severable. • ;i : ' ..J�:.�.:
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<br /> Form 302E 9/ .
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