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<br /> � ' . ` , payments may no tonger be reyuiTed,at the optian of Lender,if mo�tgage insurance rnvera�;e fia the amount and for thc periad '`� � , .
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<br /> � `,.� • that I.ender requires)provided by an insurcr approved by T.ertder again bc.�omes available:uid is obtained. Borrower shal!pay '
<br /> '<� , � , � the premiums required ta maintain mortgage insurance in effect.or to pruvide a loss�serve,untii the mquirement far mortgage . , ���•�' . "��<
<br /> - �.<< ..: . --. .�: ..
<br /> . � . . insurance ends in accordance with any written agreement Aetween Borrower and Lender or applicable taw. 3`'� �, `. `
<br /> - ' .. :<`:.� 9.impectton.Lender or its ageni may make reasonable entries upon and incpecaans of the Property. Lender shall give � .
<br /> �, � . .. � ` `<<..... :
<br /> � Borrawer norice at the time of or prior to an inspection specifying reasonable cause for the itupettian. �
<br /> - ���"--' 10.CondemnatioQ.The Froceeds of any award or claim for damages, direct or consequential, in connection with any /• � '
<br /> "y'- ' candemnatio�n or other taking of any part of tlfe Properiy.ur fur conveyance in lieu of candcmnation.ate hereby assi�sed and � - - -�--
<br /> �,� 't .
<br /> �'' � � �` shall be paid to Lender. �! -
<br /> � , ��4's• In the ever,t of a total taking of the Propeny.ttte pracerds sl�al!be applic;d to the sums setured by tbis Security[nstniment. _
<br /> � � ' ��' whether or not then dae, with any excess paid to 6orrower. In ttte event of a partiat taking of the Propeny in which�he fair � ,�.
<br /> �,--��-- ���~,<• market vaJue of the Properry immediately before the taking is equal to or greater than the amount of the sums•secured by this
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<br /> _ .- Secarity Instrument immediately before the taking.untess Borrower and L.ender otherwise agiee in ariting,the sums secuted by �: _^
<br /> this Secority Insm�ment shal! be redaced by the amount of the procceds multiplied by the following fracdon: ia) the cotal � ��
<br /> : . amount of the sums secured immediately 6efore the taking. divided by(b)the fair market value of the Property immediatety . .s+',-
<br /> � before the talrirtg. Any balance shall be paid to Borrower. In the eveat of a partial taking of the Property in which the fair '��,'�;,� �:=4�_
<br /> � '� ° . market value of the Property immediately before the taking is tess than the amount of the sums secure�immediately before the , --
<br />-` .. . :.,.' : taking. unles�Borrower and Lender otherwise agmx in writing or unless applicable law othenvise provides,the praoeeds 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 Bormwer,or if,afrer notice by l.ender to Borrower d�at the condetnndr offers to make an �.<- _
<br /> � " award or settle a claim for damages. Borrower fails to respond to Lender within 30 days aftes the date the notice is given, '6
<br /> -- Lender is suthorized to coltect and apply the proceeds.at its aption.either to restntation or repair of the Praperty or to the sums �'` ���
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<br /> � . � %� �� secured by this Security instrument.whether or not then due. ' " ' ��_
<br /> - • �=�� Unless Lender and Horrower atherwise agree in writing, any application of proceeds to principal shall not eztend or - ��►s
<br /> �,,,� � postpone the due date of the monthly payments referred to in paragraphs 1 and 2�r change the amaunt of such payments. .�� 'F x°';.�
<br /> ' � 11.Borruwer Not Reteased;For6earance By I.ender 11Tot a Waiver.Bxtension of the time for payment or modif�caaon ' °•1.`�_,°�
<br /> � �.'.::� ', s---
<br /> - �; of amonization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Bortower shall •. - : ��-
<br /> ,�';�;�, .:., ' . not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shal!not be required to . 'q ---
<br />•r ::, � , , commence proceecliags against any successor in interest or refuse to eutend time for payment or othenvise modify amort"uadon _- _-
<br /> of the sums secured by this Security Instrument by rr;ason of any demand made by the original Borrower or B�aower's -
<br /> . � - ,- - ,`�:.} successors in interest. Any farbeazance by Lender in eaercising any right or remedy shalt not 6e a waiver of or preclttde the ,.' °--
<br />`�'` • .. exercise of any right or remedy. . . e
<br /> '.. � 12.Successors and Assigns Bound; Jofnt and Several Liabllity; Co-signeis. The covenanu and agreements of this � '%'�'=
<br /> ��' . •� Security Tnstrument shall bind and benefiz the successors and assigns of Lender and Borrower. subject to the provisions of ' "�'__-
<br /> ,:.�.f:.:,s• . .. � ,. _
<br /> ,. � �1�� paragraph 17. Borrower s covenants and agreements shall be joint and several. Any Boaower who co-signs this Security
<br /> �:� ` ��� ..- °� Instrument but does not execute the Note: (a) is co-signing this 5ecuaty Instrument only to mortgage. grant and convey that .N�" - '� ••%-�'
<br /> � ' Borrower's interest in the Property under the terms of this Security Instrument: (b)is not personally obligated to pay the sums �° ��=—
<br /> � secured b this Securit Instrument;and(c)a ees that Lender and an other Bonower ma ree to extend.madi .forbear or •_ ' ��'
<br /> Y Y �' Y Y a8 fY � ` :�,.,.
<br /> • � make any accommodaaons with regard to the terms of this Security Instrument or the Note without that Borrower's wnsent. "" ::`;�
<br /> �� 13.Loan Charges.If the loan secured by this Security Instrument is subject to a law which seu maximum loan charges. • � �=
<br /> � . � and that law is finally interpreted so that the interest or other loan charges wllected or to be collected in wnnection wlth the =
<br /> t;.�;, � loan exceed the permitted limits.then: (a)any such toan charge shall be reduced by the sunount neoessary to reduce the charge : _� _
<br />';_� �'� to the permitted limit:and(b)any sums already coltected from Borrower which exceeded permitted limits will be refunded to �. , °_
<br />,•,,_ � .::
<br /> •__ . _ ' Borrower. I.ender may choose to make this refund by nducing the principal owed undee the Note or by malang a direet -
<br /> ���:;.,�•. payment to Borrower. If a refund reduces principal, the reduction will be ueated as a partial prepayment without any • ���"'��
<br /> .,..;. �� prepayment cbarge under the Note. ' • -' -
<br />•�- � � • ' 14.Notices.Any notice to Borrower providr.d for in this Security Instrument sha11 be given by delivering it or by mailing . ., --
<br /> ,� `•` � it by first class mail unless applicnbte law requires use of another method.The notice shull be directed to the Properey Address . . �
<br /> ' � .; -• , or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to • � . _
<br /> � Lender's addr�s stated herein or any other address Lender designates by notice to Borrower. Any notice pro�ided for in this
<br /> �'` ' � ' ' . Security Instrumcnt shall be deemed to have been given to Borcower or Lender when given as provided in this paragraph. . ,
<br /> , � � 1S.Goveming Law; Severnbility. Thic Security Instrument shall be govemed by federal law and the law of the �� �
<br /> jurisdiction in which the Property is lucated. In the event that any provision ar clause of this Security Instrument or the�ote : .
<br /> ' conflicts with applicable law, such conflict shall not affect other provicions of this Security Instrument or the Note which can be
<br />- � � � given eifect without thc wnflicting provision.To this cnd the pravisions of this Security lnstrument and the Nate are declared +; . •• _ '
<br /> L��. to bc scvcrable. �
<br /> • •� � 16.Borrowec's Copy.Borrower shall be given one wnformec!copy oP ihe Note and af this Security lnstrument. . � s� ��
<br /> Form 3028 9/90 �
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