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<br /> � . : .� - N-- -- Q���G��o�� ount and for the eriod .,.�' ��(` •
<br /> • payments may no longer be requ'vad,at the opuon of Lender, if mortgage insarance rnverage lin ihe am P , �_, �
<br /> <,• :. that Lendar requires)provided by an insurer approved by Lcnder again becomes availabie and is obtained. Borrower shall pay
<br />" ` the premiums required to maintain mortgage insurance in effect,or to provide a loss reserve,until the requirement for m�rtgage `, �`
<br /> � insurance ends in accordance w�th anY written agreement between Boaower and l.ender or applicable la p.�
<br /> ' � ' 9.,laspedion.Leader or its agent may make reasonable enmes upon and inspections of the Pro e L.ender shall give k<. .•,.'..� .
<br /> ; ;�__�,,:.�-. Bomower natice at the time of or prior to an inspection specifying reasanable cause foc the inspection.
<br /> � `-i�: 10. Condemnat�on.The praceeds of any award or ctaim for damages. direct or cc�nsequential. in cannection with any
<br /> --- ° " condemnntion or other takissg of anY Part af the Property.or for conveyance in lieu of condemnation.are hereby assi�eed and
<br /> . . i .. •t
<br /> � shall be paid to l.ender. . '.�' �
<br /> - � In thc event of a total taking of the PropertY•the Proceed-S shall be applied to the sums secured by this Security Instrument.
<br /> ` � ' whether or not then due, with any excess paid to Borrower. In the event of a partial takin8 of the Pmperty in which the fair ;i T: .
<br /> _ market value of the Properry immediately before the taking is equal to or gFeater than the arnount of the sums secured by this _ � �. �
<br /> •'. ` 4..
<br /> - ' • = Security Instr�ment immediately before the taking.nnless Borrower and Lender otherwise agrez in writing.the sums secured by , .. ,_.��:'
<br /> , .�Y� this Security Iastrument shall be reduced by the ataount of the praceeds mulfiplied by the following fraction: (a)tite total �;•'.t `�-'` _
<br /> ;.��t T_�;.
<br /> •'° amount of the sums secured immediauly before the tatdng. divided by (b)the fair market value of the Property immediace�Y ,-: •.+;_,.,-
<br /> • • ,,, before the taldng. Any balance shall be paid to Bomower. In the event af n partial tadcing of the Property in w[uch the fair t �.' ,.
<br />� . '..�� market value of the Property immediately before the taking is less chan tt►e amount of the sums sect+red immediately before the ,-�.
<br /> . , taking.unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides.the proceeds shall :.,� `:
<br />- ' be applied to the sums secured by this Security Instrument whether or not the sums are then due. �
<br /> '. . � ff the Property is abandoned by Borrower,or if,nfter notice by Lender to Borrower that the condemnor offers to malce an
<br /> � ���� '4.� award or settle a claim for damages. Borrowet fails to respond to Lender within 3Q days after the date the notice is given, �•_ ;��---�—
<br /> ..; , �•.�,-_
<br /> - �:,;,;�. Lender is authorized to coAect and apply the proceeds.at iu option,either to restorauon or repair of the Property or to the sums ,,: ., ,�:
<br />_ . . c..u.;�:.::. ,�'""=`-
<br /> -- ��-`;�r secured by this Security Instrument,whether or not then due. ,. =r
<br /> � � - UnIess Lender aad Borrower otherwise ag�'ec in writin8. anY application of proceEds to principal shal! not extend or �� _
<br /> ...���-
<br /> � • y ' postpone the due date of the month ly payments re ferr e d to i n p a t a g r a p h s 1 a n d 2 or chan ge the amount af such payments. , , �.. : ;.-,�,_
<br /> • '�:' I l.Borrower Not Released;Forbearauce BY I.ender Nat a Waiver•Extension of the time for payment or modificauon ,�;-;._rs;�
<br /> ,":.'.� of amorti7arion of the st�ms secared by this Security Instrument granted by I.ei►der to anY successor in interest of Borrower shall s'�_
<br /> � i not operate to release the liability of the original Barrower or Borrower's successois in interest.l.ender shall ttot be required to , ,__
<br /> � . � ' S cammence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amorti7arion �.�T,
<br /> . ' ' � of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower s .;.;r,�;:
<br /> . ,-.,.. . ."'.-. successors in interest. An3 for6earance by Lender in exercising any right or remedy shall not be a waiver of or preclude the . :'.;;J____
<br /> � � • exercise of any right or remedy. `
<br /> � 12. Successors and Asstgns Bound; Joint and Seveaal Liability; Co-signers. The covenants and agreements of this ��<
<br /> Seruriry Instrument shall bind and benefit the successors and assigns af Lender and Borrower. subject to the provisions of ,:.r,, �._
<br />_ ' � • �� . . paragraph 17. Borrower's covenanu and agreements shall be joint and several. Any Borrower who co-signs this Security • 1. _ ;,,-:�
<br /> --'-•------• Instrument but does not execute the Note: (a) is co-signing this Security Instrument ottly to mortgage,grant and convey that ' _::�,
<br /> ;, .
<br /> � Bosrower's interest in the Property under the terms af this Security Instrument: (b)is not personally obligated to pay the sums .,��,,Q�,
<br /> � secured by this Security Instrumem:and(c)agrees that Lender and any other Borrower may agree to extend.madify,forbear or ,��'�.
<br /> . �• make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. '�;�'-_�'
<br /> �� ��-
<br /> ��" ' � 13,Loan Charges. If the loan secured by this Seturity Instrument is subject to a law which sets mauimum laat�charges. ��
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<br /> � � and that law is finally interpreted so that the iaterest or other loan charges collected or to be caltected in connection with the . �.
<br /> � � loan exceed the permitted limits, then: (a)any such loan charge shall be reduced by the amount necessary ta reduce the charge _,_-�
<br /> �• , to the permitted limit:and (b)anY sums already collected from Bonower which ezceeded permitted limits will be refunded to ,,;; . ��:.
<br /> _ Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direet
<br /> �.;:�.:_ �_; _:
<br /> � • � . payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any .,:;,_�:
<br /> . � prepayment charge under the Note. :.. "
<br /> 14.Not�ces.Any notice to Borrower provided for in this Security lnstrument shall be�iven by delivering it ar by mailing �.•:: �
<br /> .. it by first class mail unless applicable law requires use of another method.The notice shall be directed to the Property Address , ,
<br /> _ ' " or any other address Borrawer designates by notice to Lender. Any notice to [.ender shall be given by first class mail to „ �
<br /> ' . • ' Lender's address stated herein or any other address L.endes designates by noticc to Borrower. Any notice provided for in this : ;f �•�
<br /> " .. �. Security Instrument shali be deemed to have been given to Borrower or Lender when given as provided in this paragraph•
<br /> 15.Governing Law; Severability. This Security Instrument shall be govemed by federal law and the law of the ,� .
<br />: ` � jurisdiction in which the Property is located. In the event that any provision or clause of this Security Inurument or the Note
<br /> � . �, � conflicts with applicabte law.such conflict shall not affect other provisions of this Security lnstrument or the Note which can br
<br /> � . : . given effect without the conflicting provision. To this end the provisions of this Security Instrument and ihe Note are decisued , ,
<br /> ' � • ' to be severable.
<br /> �'" . • 16.Borrotver's Copy.Bonower shaU be�iven one conformed copy of the iVote and of this Security Instrument. � ,
<br /> ' • Form 3028 9/90 +=� .
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