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<br /> -'.� . '• . • p�ymenu may no longer be seyuired.at the optiop of Leader,if mongage insuiance oovetage(iw the amount and for the period �,. .,_..'' ° �::
<br /> that i.ender requires)provided by an insurer appmved by LendeF again becomes available and is obtained. Bormwet shnll paY . ,;�
<br /> <: �• � .
<br /> _ � �p���q��mairrtain mortgage insurance in effect.or to pim+ide as loss rescrve,until t6e r�iremem for mortgage ;`v. `:�<<.... ��;� .
<br /> insurance eads in accordance with any written agceemeni 6etween Boaower aad ixuder or apglicable law. .�`' : " -
<br /> • .Y;.�--"`.` 9.Iasg�ctfon.Lender or iss agent may makc reasonable entries upon and inspedions ot'the Property.l.ender shall give ',`'`€.. �: '.,� ''• .
<br /> ��`���`� Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspecoion• .
<br /> • 10. Conde�nnat�on.The proceeds of any awazd or ctaim for damages. direct or oonseque�al. in coanectios�with any — 4-�_ .-
<br /> ' � '�.�. � condemnadon or other talciing of any part of the Propercy.or for oomeyauce in Geu of condemnation, are hereby assigne�i and ' :�;
<br /> ��, .• , • shall be pa�d to Lender. ' ' .
<br /> -_ ,ti`
<br /> -� IB We event of a total taking of the Property.the proceeds shall b�applied tv the sums secured by dus Security Instiume�rt, �_�_�.-
<br /> `.�,' � ` ' whether or nQt then due,with any excess paid to Barrower. In the event of u pazt'ral taking of the Pcoperty in which the fair :�`R` ,`-��{;
<br /> ., .. �.�.:� � .''•�l . _•Y_��'._��,
<br /> . t . : market value of tbe Property immediately before the talang is eqnal w or greates'tiian d�e amount of the sums seaued by this s__
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<br /> Security lastrument immediately before the taldng,nnless Borrower and I.�der otherwise agree in writing,the sums secured by �: ��
<br /> - � this Security Inshument shall be re�ced by the amount of the p r o c e e d s m u ltip l i e d by t he fo l lowing f r a c t i o n: (a) t h e t o p l ..,�;^.,
<br /> . amonnt of tke sums secured imrnediatety befon the taidng. divided by(b)the fair marlcet valae af the Propercy immediatelY ` �-
<br /> • before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Propeny in which the faitr ----
<br /> ' - z,'.
<br /> � .�': ' -: market value of the Property immediately before the taking is less than the amount of the sums sec�red iu�mediately before the
<br /> ? . taking, unless Borrower and Lender othenvise agree in writing or unless agplicable law oiherwise provides.the procexds shalZ
<br /> ` '� ' � be appfied to the sumg s�by this Security Insunme�wflether or�t t6e sums are thea due. : -.-
<br /> ; ,,; :. m
<br /> ` � • •�� If the Property is abandoned by Barrower,or if.afier noace by Lender to Borrower that the wndemnor offers to make an . —_—
<br /> : :��: .._=:�:•
<br /> .-�' ...�_.� _—.;•'_ award or settte a claim for damages, Borrower fails to respond to Lender within 30 days after the date the noticc is given, ___ :_'�_
<br /> � . 'f . .•�-' . Lender is authorized w collect and apply the pracceds.at its option.either to restoiation or repair of the Property or to the suras ?:-.A�
<br /> '� • secwed by this Security Instiument,whether or not then due. '--�
<br /> �``� Unless Lender and Borrower otherarise agree in writin , any application of roceeds to rincipal shall not �xtend or ' � . "� 'r"
<br /> ' postpone the dne date of the montWy paymenu refened w in patagraphs 1 and 2 or c2iange the am unt of sucb paymenis. : ��
<br /> •:;-�. � �-=-��
<br /> � � 11.Borrower Not Released;Forbearance By 1.ender Not a Watver.Extension of the ame for payment or madifcation , ..�
<br /> .,::;,.• �— --
<br />' ' of amorti7ation of the sums secured by this Security Instrument granted by Lender to any successor in intec�est of Borrower shall . , -J
<br /> : � not opeTate to release the liability of the original Boaower or Bonower's successors in interest. l.eader shali not be mquimd to '?-�.-: -_
<br /> '" , • commence pr�xdings against any successor in interest or refuse to exteed ame for payment or o t herwise mo d i f y a m o rt i T a u o n '.',�: .:�.
<br /> • .� � ..��', of the sums secured by this Securiry Instrument by reason of any demand made by the originai Borrower or Borrower's ;'.;.,.f'`�,�_
<br /> - successors in interest. Any forbearance by Lender in eaercising any right or remedy Jzall not be a waiver of or preclude tha ° �;'�:_.___
<br /> �� exercise of any right or cemedy. � ���'�'
<br /> � ' 12.Successors and Assigas Bouad; Joiat aad Several Y.ia631ity, C o-s Jgneis. T h e cove�au�s a n d a g r e e m e n t s o f t h i s .. �_
<br /> F., , � • . Security Insuument shall bind and benefit the successors and assigns of Lender and Barrower, subject w the provisioas of '�..:;;�r��_�
<br /> paragraph 17. Borrower's covenanu and ag�ements shaU be joint and severai. Any Borrower wbo co-sigas this Security �.���'��.:�_�___
<br /> �� � Insuument but does not execute the Note: (a)is co-signing this Security Instrument only to mortgage,grant and coavey that ' ...y...- .•�,�
<br /> � ' Borrower's finterest in the Praperty under the terms of this Security Instrument;(b)is not personally obligated.to pay the sums - 4.'�_
<br /> • � • � secured by this Secwiry Instrument:anci(c)-agrees that I.ender and any ott►er Bonower may agree to eatend.modi€y.forbear or .,;Y��:.• .w
<br /> � �• make any accommodations with regard to the tertns of this Security Insuument or the Note without that Botrower's oonsent. _
<br /> , " � � ' � 13.Laan Charges.lf the loan secured by this Security Instrument is subject to a law which sets ma�cimum loan chazges.
<br /> `�. • ' . � • '.�• and t�at law is fu�ally interpreted so that the interest or other laan ci�arges coliected or to be collected in cannection with the, -_ - •
<br />,���• . . - `'� --
<br /> . .. loan exceed the pemntted limits.then: (a)any such loan charge'shall be reduced by the amount necessary to reduce the cisatge ;. �, :
<br /> �?.�:• � � , to tfie permitted limit:and(b)any sums already collected from Bonower which exceeded permitted limits will be refunded to , _ _-
<br /> . . � � Borrower. Lender may choos�to maice this refnnd by reducing the principal owed under the Note or by making a direct � 7 --
<br /> � • • . . paymen t tb Borrower. If a refund reduces principal. the reduction will be treated as a partial prepayment without any , ___
<br /> �' � , prepayment charge under the Notc.
<br /> .. 14.Nottces.Any notice to Borrower provided for in this Security Insuvment shall be given by delivering it or by mailing ,.
<br /> . �� it by first class mail unless applicabie law requires use of another method.The natice shall be directed ro the Propetty Address • - - ��-.- ..
<br /> � • � ,.. or any other address Borrower designates by notice to Leader. Any r.otice tn Lender shall be given by first class mail to , ., ,
<br /> ;`� ' l.ender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this
<br /> . . �.. Security lnstrument shall be deemed to have been given to Borrower or Lender when given as pravided in this paragraph. .
<br /> . 15.Goveming Law; Severabiltty. 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 Instrument.or the Note '• •
<br /> • � . � ��- � conflicts with applicable law,such conflict shall not affect other provisions of this Security Instrument or the Noto which can be , _
<br /> • . ' given effect without the conflicting provision.To this end the provisions of this Security Instrument and tfle Note are declared �
<br /> ' to be severable. �
<br /> � � 16.Borro�ver's Copy.Boaower shall be given one conformed copy of the Note and of this Security Insttument. : � , �
<br /> , �, � �• Parm 3028 8198 � . ' •
<br />� . �• Pago 4 of 8 .
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