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<br /> `• at the option of Lender, if mortgage insurance covecage (in the amount and for the period that Lender requues) , '" -
<br /> provided by an insurer approved by Lender again becomes available and is obtained.Borrower shall pay the premiums
<br /> � required to maintain rnortgage insurence in effect,or zo provide a loss reserve, until the requirement for mortgage ` ,_ .3
<br /> � insurance ends in accordance with any wtitten agteement 6etwcen Horrower and Lender or applicable Iaw. ' ' , - _
<br /> � 9.Inspectian.Lender or its agent may make reasonable entries upon and insFiections of the Property.Lender shall • °"
<br />:,, give$onower notice at the time of or prior to an inspection sgecifying reasonable cause 4or the inspection. � �
<br /> y 10. Condemaation.The proceeds of any award or claim for damages,direct or conseQuential,in connection with •
<br /> � any condemnution or other taking of any part of the Property,or for conveyance in lieu of condemnauon,are hereby '- -: �: ; �-_ j
<br /> i 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,whether or not then due,with any eacesg paid to Borrower.In the event of a partial taking of the Property in . . • � •
<br /> � Nhich the fair market value of the Property immediately before the taking is equal to or greater than the amount of Ehe ' ` .. • _
<br /> � sums secured by this Security Instrument immediately before the taking,ualess Borrower and Leader otherwise agsee ' <�`�--
<br /> in vrriting,the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by -._
<br /> � the following fraction:{a)the total amount of the sums secured immediately before the taking,divided by (b�the fair � , = t '`;'_;-'i
<br /> market value of the Property immediately before the taking.Any balance shall be paid to Borrower. In the event of a �
<br /> partial taking of the Property in which the fair market value of the Property immediately before the taking is less than • � �: �
<br /> the amount of the sums secured immediately before the taking,unless Bonower and Lender otherwise agree in writing -., --
<br /> or unless applicable law otherwise provides, the procesds shall be applied to the sums secured by this Security � . �,`.�,�_�;�,-.
<br /> Instrument whether or not the sums are then due. �., _
<br /> If the Property is abandoned by Borrower,or if,after notice by Lender to Borrower that the condemnor offers to � � , � =-
<br /> make an award or settle a claim for damages. Borrower fails to respond to Lender within 30 days after the date the : . .' �- ��"'�� �--
<br /> notice is ven,I.ender is suthorized to collect and ip the proce�ds,at its o tion,either to restoration or air of the � . � � ' `'�'
<br /> gi aPP P T�P ` __ "'�'�r'..�--�
<br /> Property or to the sums secured by this Securitq Instrument,whether or not then due. , � ��• ' ': ""° �'
<br /> Unless Lender and Borrower otherwise agree in writing,any application of proceeds to principal shall not estend or � �'�!
<br /> postpone the due date of the monthlp payments refened to in paragraphs 1 and 2 or change the amount of such � . : ,.� ��•:;
<br /> ' payments. .` � � ____
<br /> 11. Bonower Not Released; Forbearance By I.ender Not a Waiver.Extenaion of the time for payment or � ;, , -
<br /> modification of amortization of the sums secured by this Securitq Instrument granted by Lender to any successor in � �* .,..
<br /> interest of Bonower shall not opetate to release the liability of the originai Bonower or Borrower's succeysors in ri. '
<br /> interest.Lender shall not be required to commence proccedings against any successor in interest or refuse to estend . ;;�-;,:�;
<br /> time for paymeat or atherwise modify amortization of the sums secured by this Security Instrument by reason of suy ;.:;�, „
<br /> demand made by the original Bonower or Borcower's successors in interest.Any forbearance by Lender in eaercising °,�;, _ . ,� s�-_
<br /> any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy.
<br /> 12.Successors and Assigns Bound;Joint and Several Liability;Co-signers.The co venants a n d ag e e�n e n t s i�:^� $'�•
<br /> of this Securitq Instrument shall bind and benefit the successois and assigns of Lender and Barrower,subject to the ` •3:� _
<br /> provisions of paragraph l7.Borrower's covenants and agreements shall be joint and several.Anp Borrower who co-signs _ _� �; . _
<br /> this Securitq Inatrument but does not esecute the Note. (a)is co'signing this Security Instrument only to mortgage, � _. . �� '�:°-•`
<br /> grant aad convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not �..';,�,. '" '� -
<br /> personally obligated to paq the sums secured by this Security Instrument;and (c) agrces that Lender and any other . +:�-:• ,"��—'_'_
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<br /> Bonower may agree to estend,modify,forbear or make any accommodations with regard to the terms of this Security - _�.�_.. .-=�•�
<br /> Instrument or the Note without that Bortower's consent. � �f��'� --
<br /> .ro,.: :=--�—
<br /> 13. Loan Charges. If the laan secured by ttus Security Instrument is subject to a law which sets maximum loan ;�''"""` �
<br /> charges, and that law is finally intetpreted so that the interest or other loan charges collected or to be collected in � ;r' y'' - .�.����
<br /> connection with the loan esceed the permitted limits,then:(a)any such loan charge shall be reduced by the aaaount ���'
<br /> neceasary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which '��L_ � � �`'
<br /> exceeded permitted limita will be refunded to Borrower. Lender may choose to meke this refund b reducin� the -'��'' '`��'`^""'-`
<br /> y � ":`�...:f=_a,��-.,...:_.-
<br /> principal owed under the Note or by making a direct payment to Bonower.If a refund reduces principal,the reduction .. .,;,.��..._.�:�'_
<br /> . will be treated as a partial prepayment without anq prepayment charge under the Note. "'c�-:.. �--`�-_�
<br /> 14.Notices.Any notice to Bonower provided for in this Security Inatrument shall be given by delivering it or by � . °�¢��;�w_ �.��
<br /> mailing it by first clasa mail unles9 applicable law requires use of another method.The notice shall be directed to the � ,,'�A, �
<br /> Property Address ot any other addres9 Bonower designates by notice to Lender.Any notice to I,ender shall be given by ���-x�.• ��` __,_.
<br /> first clasa mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any : ,;�.:;�-�.
<br /> notice provided for in thia Security Instrument shall be deemed to have been given to Borrower or Lender when given • � : __
<br /> �:. . ��•
<br /> as provided in this paragraph. . 's'�'�"",- -
<br /> 15. Governiag Law;Severability.This Security Instrument shall be governed by 4ederal law and the law of the � _
<br /> juriediction in which the Property is located.In the event that any provision or clause of this Security Instrument or the � . +`e-y-��:�-� --
<br /> � Note conflicts with applicable lacv,such conflict ehall not affect other provisions of this Security Instrument or the Note ' � . ' r�
<br /> � which can be given effect without the conflicting provision.To this end the provisions of this Security Instrument and _
<br /> the Note are declared to be severable. � � �
<br /> � � . .
<br /> Form 3028 9/9 �
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