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<br /> � . 97� ao�'�3 � .: . � . _
<br /> • at the opUon of Lender, iI mortgage insurence coverxge (in the amount and for the period that [.ender requires) f � � ._
<br /> provided by an insurer approved by Lender again becomes available and is obtained.Aorroner shalt pay the premiums '. . �
<br /> � required to maintain mortgage insurance in effect,or to provide a loss resen•e, until the requirement Por mortgage � � . -
<br /> . insurance ends in accordance with any written agreement between Borrower and I.ender or applicable law. • ' � � .
<br /> 9. Inspection.Lender or its agent may make reasonable enuies upon and inspections of the Propecty.I.ender shall
<br /> --=? give Borrocver natice at the time of or priar to an inspection specifying reasvnable cause for the inspection. - t �=
<br /> • 10. Candemaation.The proceeds of any awatd or claim for damages,ditect or cnnsequential, in connection wich ' ' • .
<br /> any condemnation or other taking of any part of the Property,or for conveyance in lieu of condemnation, are hereby � • �
<br /> . assigned and shall be paid to Lender. . ' �
<br /> � In the event of a total taking of the Property�the proceeds shall be applied to the sums secured by this Security " -
<br /> � Instrument.whsther or not then due,with any excess paid to Borrower.In the event of a partial taking of the Property in � � ` • - '
<br /> which the fair market value of the Property imruediately before the taking is equal to or greater than the amount of the �`� � �
<br /> sums secured by this Secimtg Instrument immediately before the taking,unless Borrower and Lender otherwise agree � '"``�'�
<br /> in writing,the sums secured by this Security Instrument shall be reduced by the amount of the procceds multiplied by . _ _:.�
<br /> the following fraction(a) the total amount of the sums secured immediately before the taking,divided by {b)the fair �
<br /> ' � market value of the Property immediately before the taking.Any balance shall be paid to Borrower.In the event of a . • ""'�
<br /> >:::�.�.:
<br /> partial taking of the Propertq in which the fair market value of the Property immediately lsefore the taking is less than , s<,'�;._._. . �
<br /> ;�j the amount of the sums secured immediately before the taking,unless Borrower and Lender othernise agree in writing '"�"'�`-'°"{'�
<br /> ; ';. ..;.:.,.. •
<br /> ��� or unless applicable law otherwise provides, the proceeds shall be applied to the sums secvred by this Security �;�:., , '+ ,';.: :..-�='_
<br /> '•t1 Instrument whether or not the sums are then due. �` •±�;"-�
<br /> ..�"� 'J'•.. . . '_ —' �. •�' -
<br /> If the Property is abandoned by Bonower,or if,after notice by Lender to Borrower that the condemnor offers w �.,�i• _�;_..:_-
<br /> _.�,-.,-._
<br /> make an award or settle a claim for damages, Borrower fails w respond to Lender within 30 days after the date the .� -
<br /> �;;; notice is given,Lender is authorized us collect and apply the proceeds,at its optian,either to restoration or regair of the '. :��z�,.����
<br />.;,;��� Property or to the sams secured bq this Security Instrumeni,whether or not then due. ; A� ,�
<br /> Unless Lender and Bonower otherwise agree in writing,any application of proceeds to principal shall not eatend or ,� ! '
<br /> ��� p o s tpone the due date of the monthly paymenta re ferred to in paragraphs 1 and 2 or change the amount of such � , • � ��
<br /> - payments. . ��'�i
<br /> 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time Por payment or • �,���`��� �
<br /> modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in
<br /> intereat of Bonower ahall not operate to release the liability of the original Borrower or Bonower's succeasora in �
<br /> interest. Lender eha1) not be r uired co ''�;rM���� �
<br /> eq to mmence proceed�ngs agamst any successor in interest or refuse to extend � .
<br /> time for payment or otherwise madify amortization of the�ums secured by this 5ecurity Instrument by reason of any .. -
<br /> demand made by the original Borrower ot Borrower'e successors in interest. Any Porbearance by Lender in exercising � � �I
<br /> any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. ��,. . . ,,.;� • •
<br /> 12. SuccessoTS aad Assigna Boand; Joint and Several Liability;Co-signers.'The wvenants and ageemente �'•�`. . . ;` ;
<br /> oY this Security Instrument shall bind and bene�it the successors and assigns of Lender and Borrower,subject to the � •• _:'�, �
<br /> provisions of paragraph 17.Borrower's covenants and agreements ahall be joint and several.Any Honower who co-sigas ( � �
<br /> this Security Instrument but does not execute the Note: (a) is co-signing this Security Inatrument only to mortgage, "' ` . _
<br /> grant and convey that Borrowere interest in the Property under the terms of thie Security Instrument; (b) is not '�;��.. �'�—
<br /> personally obligated to pay the aums secured by this Security Instsument;and (c}agrees that Lender and any other . .�:_ �'=s
<br /> • Bonower may agree to estend,madifq.forbear or make any accommodations with regard to the terms of this Security {''"•'� _ —
<br /> Insttument or the Note without that Horrower s consent. .;�,,.; „�:�
<br /> 13. Loan Chsrges. If tAe loan secured by ihis Security Instrument is subject to a law which seis masimum loan ''��"'"�
<br /> �_ ;�.w:.,---. .,
<br /> charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in
<br /> connection with the loan exceed the permitted limita,then: (a) any auch loan charge shall be reduced by the amount � "`�'`_"��` .
<br /> neceseary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which , � �: . �,�"�= ;
<br /> esceeded per:nitted limits will be refunded to Bonower. Lender may choose to make this rePund �Cy reducing the � "`' ��
<br /> :-;��_�.=f'-
<br /> principal owed under the\Tote or bq making a direct payment to Bonower.If a refund reduces principal,the reduction �°_Y_:,,r��,-.._-
<br /> wi11 be treated as a partial prepayment without any prepayment charge under the Note. � ' '..`''
<br /> 14. Noticea.Any notice to Bortoc�er provided for in this Security Instrument shal l be ven b deliverin it or b �, ���'T""'``�l^��
<br /> $i Y P Y � :.•.•:;'.;i -.--��- -
<br /> mailing it by fitst class mail unless app]icable law requires use of another method.The notice shall be directed to the , ;i�,�..:_,,,�„�_
<br /> Property Address or any other address Borrower designates by notice to I,ender.Any notice to Lender shall be given by
<br /> �rst class mail to Lender's address stated herein or any other address Lender designates by notice to Bonower. Any . ' �
<br /> notice provided for in this Security Instrument shall be deemed to have been given to Bonower or I,ender when given • • . '
<br /> as provided in thia paragraph. � • •
<br />. IS. Governing Lew;Severability.This Security Instrument shaU be governed by fedesat larv and the law of the � � �
<br /> jurisdiction in which the Property ia located. In the event that any provision or clause of this Security Instrument or the �. • �.
<br /> IVote conflicts with applicable law,such conflict ehall not affect other provisions of this Security Instrument or the Note
<br /> which can ba given effect without the conflicting provision.To thia end the provisiona of this Security Instrument and
<br /> the Note are declared to be severable. � �� ��f:.
<br /> �-6R(Nqro�,no, o�o.�a�e Form 302� 9/90 � ,�
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