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<br /> , • payceencs may no longer be required. at[he option of L.ender, if mortgage insurance coverage(in the amounc and for the period � • -r�-
<br /> , that Lender. requires)provided by an insu:er approved by Lender again becomes available and is obtained. Borrower shall pay ,'��_
<br /> the premiums required to maintain mortgage insurauce in effect,or to provide a loss resen e,until the requiremenc for mongage , .a,.. , .�_
<br /> � . .i".
<br /> inst�rance ends in accordance with any written agreemeat between Bortower and Lender or applicable law. , �;
<br /> 4.Iuspecsion. Lender or iu agent may make reasonable en[ries upon aud inspec[ions of the Property. Lender shalt give . s__
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<br /> Borrower notice at the time af or prior to an inspection specifying reasonable cause for[he inspectioa. _
<br /> 10. Condetnnatton. The praceeds of any award or claim for damages. direct or consequential, in connection with any . . . .
<br /> condemnation or other taking of any part af the Properry,or for conveyance in lieu of condemnation,are hereby assigned and , .
<br /> shall be paid to Lender. � ' ' � .
<br /> In the event of a[otal taking of the Pro�rry.the prcceeds shall be applied to the sums secured by[his Security Ins[rument.
<br /> whether or not then due, with any excess paid to Borrower. In the event of a parciai taking of the Proper[y in which the fair i __ _ _--_ —___ - ___
<br /> market value of the Property immediazely before the taking is equai to or gmater[han the amount of che sums secured by this � . _ _
<br /> gecurity Instrument immediately before the taking,unless Borrower and Lender otheruvise agree in writing,the sums secured by k ,� ,� .,:� �
<br /> . �his gecurity instrumenc shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total . '.LL i
<br /> amount of the sums secured immediately before the taking, divided by (b) the fan'market value of the Properry immediately
<br /> before the taking• AnY balance sha11 be paid to Borrower. In the event of a gartial ta:cing of the Property in which the fair . `:� .': .:
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<br /> market value of the Propeny immediately befare the taking is less than the amount of the sums secweci immediately before the _ __�#�_
<br /> untess Borrower aad Lender otherwise agree in writin8 or unless applicable law otherwise provides, the proceeds shall , ':;�-;_�__��.
<br /> taking. , �'_':�_:
<br /> be applied to We sums secured by this Securiry instrument whether or not the sums are then due. . ,;, t�o--•���� .
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<br /> If the property is abandoned by Borrower,or if,after nodce by Lender to Borrower that the condemnor offers to make an � . .. �.�.�;__
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<br /> award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the daze ths noace is given. _ ��:_
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<br /> Lender is authorized to collect and apply the pmceeds,at its option,either to restaration or repair of the Properry or to the sunas . •,������_�
<br /> secured by tbis Security Instrument,whether or not then due. . �; �'��'�='
<br /> � ' Unless Lender and Borroaer otherwise zgree in writing, anY application of proceeds to principal shall not extend or �;,-��„��,m.
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<br /> �� a ents referred w in paragraPhs 1 and 2 or change the amount of such payments. '� ' �•�'
<br /> postpone the due date of the monthly p ym """` �� � �r
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<br /> 11.Borrowec Not ReYeased;Forbearance By Lender Not a Watver•Factension of the time for payment or modification -
<br /> � of amorti�ation of the sums secured by chis 8ecvrity Inswment grant�d by 1-�nder to any successor in interest of Borrower shall • • a:,_
<br /> "` not operate to release the liabiliry of the original Borrower or Borrower's successors in interest. Lender shall not be r�equired to • "` . : _'�-
<br /> . co m m e n ce p r o c e e d i n g s a g a i n s t a n y s u c c e s s o r i n i n t erest or refuse to extend time for payment or otherwise modify amortization . Y ��_,�- f_
<br /> ' of the swns secured by this Security Instrument by reason of any deraand made by the original BarroW+er or B o1T°We r'g _ : „ <"�•'_�
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<br /> successors in interest. Any farbearance by Lender in exercising any right or remedy shail not be a waiver af or preclude the ;,,,_,, : ;:. �,,;_
<br /> • exercise of any right or remedy• K"�Y� _ --
<br /> 12. Successois aud Asstgns Bound; Joint and Severad Liability; Co-signers• The covenanu and agreements of[his .,,�
<br /> Securiry Insuument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of ..�,s •
<br /> venanu and a eements shall be joint and several. Any Borrower who co-signs this Sr,c�rity M ;����''. --
<br /> paragraph 17. Borrower's co 8r :�• �� , � "
<br /> � Insm�ment but does not execute the Note: (a) is co-signing this Security lnstrument only to mortgage, grant and convey that �,. �r { �
<br /> Boaowes's intcrest ia the Property un der t he terms o f t h i s S e c u ri ry instrument; (b)is not personally obligazed to pay the sums �"�' �t�;i�!.�. '''"
<br /> secured by tius Security Instrument;and(c)agrees that Lender and any other Borrower may agree to extend. modify,forbear or � i� .
<br /> make any accommodations with regard to the terms of tt►is S..curity insnumeat or the Note aithout that Bonower's consent. _
<br /> :, 13,Loan Charges.If the loan secured by this Security Instrument is subject to a law which sets ma�cimum toan charges. , �-. R'� •�.:
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<br /> and that taw is finally interpreted so that the interesc or other loan charges collected or to be collected in connection with the _��y����_.
<br /> ",� loan eaceed the permicted limiu,theu: (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 Bonower which exceeded permitted limits will be refunded to � ,___ , __ _�t :
<br /> ; �Boaower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct
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<br />� ' �; payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without an �r• . _ .
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<br /> •� prepayment charge under the Note. '�, '` ,. '
<br /> � ,��� 14.Nottces.Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing
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<br /> it by first class mail unless applicable taw requires use of anothes method.The notice shall be directed to the Pro e Address �`� __
<br /> � or any other address Bonower designates by notice to Lender. Any aotice to Lender shall be given by first class mail tu - .�
<br /> ; Lender's address stated herein or any other address Lender designates by notice to Borrower. Any nouce provided for in this ;••., ,;;;�;..� ., _
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<br /> gec�uity Instrument shall be deemed to have been given to Boaower or Lender when given as provided in this paragraph• , , _
<br /> � 15.Governing Law; 3everabiltty. This SECUriry Instrument shall be govemed by federal law and the law of che s,:;�, �--��.;
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<br /> . • jurisdiction in which the Property is tocated.In the event that any provision or clause of this Security Instrument or the Note ?J� j� �:�. _
<br /> conflicu with applicable law,such conflict shall not affect other provisions of this Security Instrument or the lsiote which can be � ��,�*;:.��
<br /> � given effect without the conflicting provision. To this end the provisions of this Security lnstrument and the Note are declared ,�.-,
<br /> ,
<br /> to be severable. -�`=`'�-- �Y��
<br /> ° ' 16.Borrower's Copy.Borrower shall be given one conformed copy of the Note and of this Securiry Instrument. , `___
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<br /> Form 3028 /90 , •�`
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<br /> Vage 4 018 In:t�S�: ahi.W.:.{:..-:;"!;}aT.
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