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<br /> ` payments may no longer be required,at the option of Lender, if m�zrtgage insurdn��e�uverage lin th nunt artd for t�e peruxi ':�.:,=.:��-�=--.�.:-�,�. _
<br /> �' that Lender reqaires)provided by an insurer approved by Lender again becomc.availabtc and i.obtaincd. Bc�rruwer�hati pay � N
<br /> the premiums required to maintain mortgage insurance in effert,or to pmvide a Ivss-eterve,until the rcyuirement far murtNagc . —
<br /> ^ insurance ends in accordance with any written agr�eement between Borro�ver and Lendcr or applicable law.
<br /> 9.Inspection. Lender or i[s agent may make reasonable entries upon and inspc�ction�of the Pr��peny. l.rnder+I►aU �:ive , ` � .n.
<br /> Borrower notice at the time of or prior to an inspection specifying reasiinable rau�e for the inspection.
<br /> 10. Condemnution.Z'he proce�eds of any award or claim for damages. dirr,ct nr rnnsequential, in comiertian wUh a�+y , . �
<br /> condemnation or other taking of any pan of the Property.��r for conveyance in lieu oi'rondenmatit�n,are hcrcby a.•itincd anJ •
<br />� shall be paid to Lender. . � ' :. �'�
<br /> In the event of a total taking of the Property.[he paxeeds St►all be appliai to che tiums,e�vmd by thi,Sc�urity Imtroment. ,
<br /> whether or not then due,with any excess paid to Borrow•er. In the event of a panial taking��f the Propeny in wh�ch thr fair ---�- :.-- —,
<br /> market value of the Property immediately before the taking is equal to or greater th:ut the amount of thr sum��erured by lhi+ , .
<br /> Security Instrument immediately before the taking,unless Borrower and Lender othen►ise agree in writing, the sums,ccurcd by .. , : � � : ��:
<br /> this Security Instrusnent shall be reduced by the amount of the proceeds multiplied by the following fractiun: laf the t��tal . ,- � ?� ' =-
<br /> � ., .. ' : •.
<br /> amount of the �ums secured immediately befare the [aking, divided by �b)the fair market value c�f the Pmperty immcJiatcly � ��
<br /> r 1�-_:=.
<br />. ' ��,:�.;°.�
<br /> � before the taking. Any balance shall be paid to Bonower. In the event of a partial taking of the Property in which the fair �,. Y i —_,;_
<br />';�'r', market value of the Property immediately before the tal:ing is less than the amount of the sums secured immediately befom thc ..x�=_—
<br />'">" taking. unless Borrower and L.ender otherwise agree in writing or unless applicable law otherwi�e provides, the pmcceJ� shall `;�����,, -
<br />=s�� 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 Bonower, or if,after notice by Lender to Borrower that the condemnor affers to make an '.��'��y _ ;�_
<br /> awazd or settle a claim for damages. Borrower fails to respond ta Lender within 30 days after[he date the notice is given. �: ,_����
<br />�;%�� I.ender is authorized to collect and apply the proceeds.at its option,either to restoratinn or repair of the Property or to the sums �:�__�.�.-
<br />?yr:: secured by this Seruriry Instrament,whether or not then due. � '.� ,���--_
<br /> `� Unless L.ender and Borrawer otherwise agree in writing. any application of proceeds to principal shall not extend or ,��r��,.,:" -:�-
<br />:";:,,:
<br />. postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change tfie amaunt of such payments. :_�,"' F `_�_.
<br /> 11.Borrower Not Released;For6earance By Lender Noi a Waiver.Extension of the time for payment or modification _ _ %�"
<br /> .� 9r _
<br />:'<:,`'� of amortization of the sums secure�by this Securiry[nstrument granted by C.ender to any successor in interest of Boaower shall -••-�-�- �,
<br />':��� not operate to retease the liability of the original Bocrower or Borrower's successors in interest. Lender shall not be required to '�'�
<br />',�'� conunence pro�cedings agains[any successor in interest or refuse to extend time for payment or othenvise modify amonization
<br />� of the sums secured by this Security Instrnment by reason of any demand made by the original Bor�uwer or Borrawer's ' �-
<br /> .. , , ,-4'.. .
<br /> suctessors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the - ,
<br />:ii,:- _ :�, �.<
<br /> exercise of any right or remedy. ,� ;' �
<br /> 12. Successots and Assignq Bound;Joint and Several Liability; Co-stguers. The covenants and agreements of this - '
<br /> Security Instrument shall bind and benefit the successors and assigns of l,ender and Borrower, subject to the provisions of '�� � =
<br /> paragraph 17. Borrower's covenanu and agreements shal l be joint an d sever�l. Any Borrower who co-si gns this Securiry �`_;�:
<br /> i'�
<br /> Ins[rument but does no t execu te t h e N o t e: (a) i s c o-s i g n i n g t h i s S e c u ri t y Instrument onl y to mort ga ge. grant and convey that „ . .�.
<br /> Borrower's interest in the Property under the terms of this Securiry Instrument; (b>is not personally obligated to pay the sutns {
<br /> or �
<br /> �; secured by chis Securiry Instrument;and(c)a�rees that l.ender and any other Borrower may agree to eatend,mad�fy,forbear ..�- ,�,.� _ ;.,
<br />�>`` make an accommodations with re ard to the terms of this Securit Instrument or the Note wittaout that Borrower's consent. — -f`'°'"'•�•`"'=�"��'
<br /> Y �
<br />� ',� 13YLoan Charges.If the loan secured by this Security Instrument is subject to a law which sets ma�cimum loan charges. �:�`'��"%
<br /> and that law is finally interpreted so that the interest ar other loan charges collected or to be collected in connection with the ��_;_
<br /> " loan exceed che permitted limits, then: (a)any such loan charge shall be reduced by the amount necessary to reduce the charge r,y
<br /> �.: 'i to the permitted limit: and (b)any sums already collected from Borrower which exceeded permitted limits will be refunded to .,.� _
<br /> , Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct '�` � .c��_
<br /> ��•1 payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any .
<br /> . ; prepayment charge under the Note. ��� � �
<br /> ;`j '�"��c'=�_"°°..
<br /> 14.Notices.Any notice to Borrower provided for in this Securiry Instrument shall be given by delivering it or by mailing
<br /> ' �' it by first class mail unless applicable law requires use of another method.The rtotice shall be direct e d to t he P roperty Address
<br /> •i nates b notice to Lender. An notice to Lender shall be given by first class mail to �l-�-
<br /> . o r a n y o t h e r a d d r e s s B o r r o w e r d e s g y Y
<br /> � Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this ` ''•�-� �
<br /> Security Instrument shall be decmed to have been given to Borrower or Lender when given ac provided in this paragraph. �,, _�e-=-
<br /> � 15.Governing Law; Severability. This Securiry Instrument shall be govemed by federal law and the law of the ��_ -���
<br /> • ' jurisdiction;n which the Property is located. ln 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 Note which can be ���`�~� • "`^
<br /> . � given effect without the contlicting provision. To this end the provisions of this Security(nstrument and the Note ate declared _ "`�'� ���
<br /> to be severable. "
<br /> 16.Borrower's Copy.Borrower shall be given one canformed copy of the Note and of this Security Instrument. ,.
<br /> " Form 3028 9/90 " '�
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