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<br /> pa�mcnt,may nu lungcr bc rcyuircd,at thc optian csf C.cndcr, ii mungagc in+urancr.���cragc t in thc amuunt;►nd fc�r thc pcnixi ' ' '<� , � �•�> -
<br /> that L.ender reyuire.wi pro�•ideci hy an insurer approved by [.ender ag�in berume,availabic anJ i+ubtainc�i. Bottower.hall pay . � . • � , - �
<br /> Ehe premium.�requimd to maintain mortgage in,urance in effect, or to pro�•ide a;u.+re+cn�e.until the reywrement fi�r murtgage ,< .
<br /> .
<br /> • insurance rnds in accorcfance«•ith:tny w•ritten agreement benceen Boaouer and Lc�nder ur applirable la«. • '
<br /> , 9. Insp�tion. Lxnder c�r it,agent may make reasonable entric. upon and in,peruom uf the Propertp. Lender+hall give � ' .
<br />. Burmwer nuuce a[the time uf��r prior to an in�pection,pecify ing res,onable cau,e fnr the mspertiun. •
<br /> ; �! 10. Cundetnnatian. The pruc�ls ��f any aw•azd er claim for dama_eti. direct i�r rim�ec{uenti:il, in ronnc�-tion with any �* -
<br /> rondemnation or t�ther taking uf any pan uf the Property.or fur rom•eyance in liru of condemnadun.:irc hcreb}� a„igned and . � . ' • • _
<br /> �hall bc paid to L.ender. , • ,
<br /> � In the e�•ent of a t�tal taking of the Property,the proceeds shaJl be applied to the,ums,ecured by thi.Se�:urity Imtrument. � • , �
<br /> _ � whether ur not then due, a•ith any excesti paid to Borrower. In the event of a partial taking of the Property in which the fair .,,
<br /> . market��alue af the Propeny immediately before the taking is eyual to or greater than the amount of che+ums serured by this ,' . <• ;
<br /> ; Security Instrument immediately before the taking, unless Borrower and Lender othenvise agree in writing,the sums secured by � •
<br /> � . t.,�..�,�:,_.
<br /> thi, Securiry instrument shall be reduced by the amount of the pmceeds multiplied by tfie following fraction: iat the total • =
<br /> amount of the sums,ecured immediately before the taking, divided by �b) the fair mazket value of the Property immediately � , ' ,A�,���.
<br /> before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair ,,� __,,;;,�.-_
<br /> � marhet value of the Property immediately before the taking is less than the amount of the sums secured immediately before the �• , "°""'•'�--_
<br /> � -�'���n-.-;�
<br /> , taking, unless Borrower and Lender otherwise agree in writing or unless applirable law otherwise provides, the proceeds shall , �. . �:.�.;,.-�
<br /> • • be applied to the sums securetl by this Securiry Instrument w�hether or not the sums arc then due. , ; " .�h��•:�
<br /> if the Property i+abandoned by&rnower,or if,after noticz by Lender to Borrower that the condemnor offers ta make an � . -z�= '
<br /> " aKard or settle a claim for damages. Borrower faitc to respond to Lender within 30 days after the date the notice is given. • •-� -°"� =-°°_
<br /> , , L,ender is authorized to collect and apply the proceeds.at its option, either to restoratiun or repair of the Propeny or to the sums � � �
<br /> _ secured by this Security Instrument,whether ar not then due. -� � ' .� f. �•�,L"�
<br /> h . .:�-_-,
<br /> � Unles� Lender and Borrower otherwise agree in writing, any application of pruceeds w principal shall not extend or
<br />;' ..�. postpone the due date of the monthly payments refened[o in paragraphs I and 2 or change the amount of such payments. ; ~ "#�
<br /> 11.$orrower Not Released; Forbearance By Lender hot a Waiver. Extension of the time for payment or modifiration - - ��i
<br /> of amortization of the sums secured by this Securit� liutrument granteci by Lender to any wccessor in interest of Borrower shall ,' �
<br />� not operate to relrase the liability of the original Ber.awer or Borrower's succeswrs in interetit. Lender shall not be required to � � � � -
<br /> commence proceedings against any sucae+sor in interest or refuse to extend time for payment or othenvise modify amortization , �= : '•
<br /> of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Bomncer's - ��' - �
<br /> successors in interest. Any forbearance by L.ender in exercising any right or remedy shall not be a waiver of or preciud�the � .';,,' �
<br /> exercise of any right or remedy. �'"-- �•�� ,`'�_
<br /> 12. Su�sors and Assigns Bound; Jdir�t �� Several Liability; Co-signers. The covenants and agreemetns of this y - "��' `
<br /> . �'��..� �..... �: �1 t�� .-..
<br /> Security Inswment shall bind and benefic th� ;_c,�sors and assigns of Lender and Burrower, subject to the provisions of =ti�-. r�
<br /> paragraph 17. Borrower's covenants and agreeme:iu shall be joint and several. Any Borrower who co-signs this Sa.-uriry --
<br />. � sr
<br /> . ...�� .`..
<br /> Instrument but does not exeeute the Note: (a) is ecrsigning this Security Instrument only to mortgage, grant and com�ey that r.
<br /> Borrower's interest in the Property under the terms ef thi�Seturity Instrument:(b) is nat personally obligated to pay the sums , �-��='
<br /> _ �=-,
<br /> . secured by this Security Instrument;and(c)agrees a��at Lcnder and any other Borrower may agree to eztend, modify,forbear or .-""'�;�
<br />� make any accommodations with regard to the terms of this Securiry Imtrument or the Note without that Borrower's consent. --- y'+• � ��
<br /> . ��`� ;q�-
<br /> 13. Loan Chatges. If the loan secured by this Security In�trument is subject to a law which sets maximum loan charges. , .`�•-.m-=:_
<br /> and that !aw is finally interpreted so that the interest or other loan charges collected or ta be coUected in connection tivith the - �-�_,�,_
<br /> loan exceed the permitted limits,then: �a)any such loan charge shall be reduced by the amount necessary to reduce the charge �:':..,,�,,,.
<br /> to the permitted limit: and(b)any sums already collected from Borrower which exceeded permitted limits wi11 be refunded to , . - . ';�c;�
<br /> � Botrower. Lender may choose to make this refund by reducing the pnncipal owed under the Note or by making a direct ^ --
<br />' payment to Borrower. If a refund c�'uces principal, the reduction will be trea?ed as a panial prepayment withaut any . �'� �
<br /> prepayment charge under the Note. ��r�_
<br /> ��.,��•�n°;F.. .
<br /> 14.Natices.Any notice to Borrower provided for in this Security Instrumem shall be given by dclivering it or by mailing '"°''"'��``'—=-
<br />_ it by first class mail unless applicable law requires use uf another method. The notice shall be directed to the Property Address .�.•�� '��.•
<br /> or any other addresc Borrower designates by notrx to Lender. 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 noticc to Borrower. An notice rovided for in this '�"''�`� ,�`���-� ' '
<br /> Y P '�.'��,. ._.
<br /> • Security frstrument shall be deemed to have been given to Borrower ar Lender when given as provided in this paragraph. ' � , '
<br /> � 15.Governing Law; Severability. This Security Instrument shall be govemed by fedcral Ixw and the law of thc � . •
<br /> jurisdiction in which the Property is lacated. In d�e event that any provision or clause of this Security In�trument or the Note •'.�,,�:�..;t�,.���,�- .'�'
<br /> „ �x -
<br /> conflicts with applicable law, tiuch conflict shaU r.ct zffect other provisians of this Security Instrument or the Note which can be ..- ' =
<br />. given effect without Ihe conflicting rrc3vixion. To this end the provisions of this Security Instrument aad the Note are declazed � ----
<br /> to be severable. � � —
<br /> • 16.Borrower's Copy.Borrower sha11 be given une conformed cupy of the Note and of this Security Imtrument. . . ' . .,'
<br /> Form 3028 9/90 � � '
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