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<br /> c � paymenu may no tonger be required,at the opdon of Lender,if mortgage insurance coverage(in the amount and for the period ,:'f. t �`� .' °
<br /> • .. ' ' ti�at Lender requires)provided by an insurer approved by I.ender again bernmes avaitab2e and is obtained. Borrower shalS Ray , .•.� ,��
<br /> •r ' �.•`�.: the premiums required to maintain mortgage insurance in effect.os to provide a tass reserve.until the requiiemen[for martgage ..::c : `•
<br /> < ' '`� '•--�-` insurance ends in accordance with any written agreement ben�+een Borrower and L.ender or appiicable I�w. �-. . �- �'`•
<br />" ���'='�"Y'�' 9.Inspectloa. I.ender or its agent qnay malce reasonable entries upon and inspectinns of the Praperty. l.ender shall give� ' �`° `°� •.
<br /> -� . . + Borrower notice at the rime of or prior to aa inspection s�ecifying reasonable cause for the inspection. • '
<br /> -- — r��� 10. Condemnatton.The proceeds of any awarJ or claim for damages. dired or vonsequential. in contteciion with any � . ° - .
<br /> �" � � ` �`. condemnation or other taking of any part of the Property,or for oonveyaace in lieu of condemnation,are hereby assigne3 and.� `.�� �; �,
<br /> . . ' ' shall be paid to l.ender. � :. 4 .
<br /> -. • � In thc event of a tatal taking of the Property,the proceeds shalf be applied to the sams secuied by this Security Instrumem. � _; z.. .
<br /> _ . ...��_. . whether or not then due, with any excess paid to Barrower. In the event of a partiai taking of the Property ia which t6e fair ,. E;;tr'
<br /> �. market valae of the Property immediately before the taldng is egual to or greater than the amount of the sums secured by this� � �`�•� .�
<br /> ' � Security Instrument immediately befare the taking,unless Bomnwer and Lender otherwise agree i�t writing,the sums secured by"� �.. , :�':r=.;'
<br /> � " this Security Instrument shal! be reduced by the amount of the proceeds multiplied by the following fraction: (a) the tota! ` �.� ` - "�
<br /> �`I " � amount of the sums secured immediately before the taking,divided by(b)the fair market value of the Praperty i�ediately � �'''�'•-
<br /> ' , before the tala�►g. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in w[uch the fair ''� �� . •�
<br /> � market value of the Property immediatciy before the taking is less t6an the amount of the�ums secured irtmied'sately 6efore the
<br /> �'1.�..` . ` • talcing,unless Borrower and Lender otherwise agree in wriring or unless applicable law othera+ise provides>the praceeds shall ; +:�_
<br /> . _ - � be applied to the sums secured by this Security Instrument whether or not the sums are then due. , �• '���,._
<br /> If the Property is abandoned by Bonower,or if.after notice by Lender to Borrower that the condemnor offers to make an ... ��'L�_
<br /> ' ` �"'�?, award or settle a claim for damages. Borrower fails to respond to Lender within 30 days after the date the noi"sce is given. _ -..: --
<br /> ' _ Lender is authorized to wllect and apply the praceeds,at its option,either to restoration or re air of the Pro e or ta the sums • , 'E�_
<br /> P P rtY �, �S=°..
<br /> ,� , . secured by this Se�vrity Instrument,whether or not then due. ` '�'"; �;�`.
<br /> ' Unless Lender and Borrower otherwise agree in writing. any application of proceeds to principal shall not extend ar
<br /> •�� :4:,.::.'?:_
<br /> ,,,, , �` . ,.., .., postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. . u•;�
<br /> - - Il.Borrower Not Released;Focbearaace By Lender Not a Waiver.Extension of the time for payment or modification =- -
<br /> �f ` of amortiration of the sums secured by this Serurity Instrument granted by l.ender to any snccessor in interest of Borrower shall ;-A=�
<br /> � � .- not operate to release the liability of the original Barrower or Bonower s successors in interest. Lender shall not be required to '�"�'``��
<br /> .�•�_
<br /> . ' " carrunence praceedings against any successor in interest or refuse to eatend time for payment or otherarise modify amortization ��t•-=
<br /> • � �-�`'' ' ''-�1 of the sums secured hy this Securicy Instrument by reason of any demand made by the original Borrower or Hanowes's . ;: �
<br />�`: • � , • ��,;-
<br /> ' • � �; � successors in interest. Any forbearance by Lender in exercising any right or remedy sha11 nat be a waiver of or praclude the r� ���
<br /> � -.. . ' exercise of any right or remedy. �`4;�;
<br /> ' • . 12. Suctessoss and Assigas Bourtd;Joint and Seveial Ltabitity; Co-signers. The covercdnts and agreemems of this _
<br /> ` � ` Securiry Instrument shall bind and benefit the successors and assigns of Lender and Boaower. subject to the provisions of : � �=`
<br /> �- -`-�� ' paragraph 17. Borrower s covenanu and agieements shall be joint and several. Any Borrower who co-signs this Security �;',; � �-;;.°
<br /> Instrument but does not execute�he Note: (a) is co-signing this Security Instrument only to mortgage,grant and convey that . "'�'-=
<br /> , •� •. '' Barcower's iaterest in the Properly under the terms of tt�is Security Instrument; (b)is not personally obligated to pay the sums � `'�-
<br />_ . secured by this Securiry(nstrument:and(c)agrees that Lender and any other Borrower may agree to extend.modify,forbear or . _.�.
<br />:v�.. . , �' make any accommodatians with regard to the terms of this Security Insuument or the Note without that Borrower's consent. _
<br /> � � 13.Loan Charges.If the loan secured by this Security Instrument is subject to a law which sets maximum toan charges, - _
<br /> - � ' and that law is finally interpreted so that the inrerest or other toan charges collected or to be collected in connection with the .. --
<br /> � , loan exceed the permitted limits,then: (a)any such loan charge shall be reduced by the amount necessary to reduce the chasge ,
<br /> • . J�-; to the pemvtted limn;and(b)any sums already collected from Borrower whic;h exceeded permitted limiu will be refunded to � -
<br />� . J• Borrower. Lender may choose to make this refund by reducing the principal owed under the Nate or by making a direct : .
<br /> • . payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment withaut any .
<br /> � prepayment charge under the Note. .,• ..
<br /> � �. .. � t4.Notices.Any notice ta Borrower provided for in this Securi¢y Instrument shall be given by delivering it or by mailing •
<br /> . � • it by first clacs mail unless applicable law requires use of another methad.The natice shall be directed to the Property Address . •�
<br /> • or any other address Barrower designates by notice to Lcnder. Any notice to Lender shall be given by first class mail to • . •
<br /> • Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided fos in this •
<br />' at. : � Security Iastrument shall be deemed ta have h�en given to Borrower or Lender when given as provided in this paragtaph. '.
<br /> „�•� '' 15.Governlag Law; 5everabllity. This Security Instrument shall bc governed by fcderal law and the law of the �. '
<br /> jurisdiction in which the Property is locatcd. In the event that any provision or clause of this Security Instrument or the Note � �
<br /> � conflicts with applicable law,such conflict shall not affect other provisions of this Security Instrument oc the Noie wbich can be � _� . .
<br /> � � '� .� given effect witbout the wnflicting provision. To this end the provisions of this Security Mstrument and the Note are declared ` , • ..
<br /> to be severable. .
<br /> �� � . 16.Bonower's Copy. Borcower shall be given one conformed copy of the Note and nf this Security Instrument. � . .
<br /> <„
<br />, , Form 3028 9/90 �
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