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<br /> payments may na longer be required,at the optioa of Lender,if mortgage insurancc coverage(in the amount and for the period i . -
<br /> that L,eader requires)provided by an insurer approved by I.ender again becomes available and is obtained.Borrower shall pay �
<br /> � �e p���eyuired to maintain mongage insurance in effeM.or to provide a ioss reserve,until the requirement for mortgage �
<br /> � i���ends in accoTdance with any written agreement between Bonower and Lender or applicable law. �der shall ive � •
<br />- 9. Inspection. Lender or iu agent may make reasonable entries upon and inspeccions of the Properry. g � -
<br /> � $orrower noticc at the time of or prior to an inspeaion specifying reasonable cause for t�e inspeccion. k , ,, - - -' _��
<br /> � 10. Condemnation. The proceeds of any award or claim for damages. direct or consequential, in connection with any , .. � .
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<br /> condemnation or other taking of any part of the Proper[y,or for conveyance in lieu of condemnation,are hereby assigned and ` .
<br /> shall be paid to Lender. �
<br /> , In the event of a total taking of the Property.the Proc�ds shall be applied to the sums secured by this SecuritY Inst�ent, , � . ; - .
<br /> � whether or not then due,with anY excess paid to Borrawer. In the event of a partial caking of the Property in which the fair ,
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<br /> jmarket value of the Property immediately before the taking is equal to or greater tlian the unount of the sums secured by this x.��:';
<br /> � gecurity,[nstrument immediately before the taking.unless Borrower and Lender otheruvise agree in wricing•the sums s�►�by
<br /> � this Security Instrument shall be reduced by the amaunt of the proceeds multiplied by the follow�g fraction- (a) the total � � . . �,.' ``�y
<br /> -� amount of tne suras secured immediatelY before the taking,divided b}(b)the fair market value of the Proper[y iIIUnaliately n:�.
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<br /> I before the taking. Any balance sha11 be Faid to Borrower. In the event of a partial taking of the Properry in which the fair ,� , . ; �
<br /> poarket value of the Propercy immediately before the taking is less than[he amount of the sums secumd immediately before the �' : •r
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<br /> �aking,unless$orrower and Lender otherwise agree in writing or unless aPPlicable!aw otherwise provides,the procxeds shall � . --.
<br /> be applied to the sums secured by this Security Instrument whether or not the sums are then due. � : ,
<br />.-� . . 7. ..
<br /> If the Property is abandoned by Eorrower,or if,afcer notice by Lender to Borrower Wat che condewnor offers to make an .,,� �
<br /> i award or seule a claim for damages. Borrower fails to respond to L.ender within 30 days after the date the notice is gi�en, �J'(4�
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<br /> Lender is authorized to wllect and apply the praceeds.at its option,either to restoration or repair of the Property or to the sums —
<br /> ,��• secured by this Seqtriry Insuument,whether or not then due. . ,� ��
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<br /> Unless Lender and Borrower otherwise agree in wrhin8• anY aPP�ication of proceeds to principal shall not extend or ,..:.�,;.,r �
<br /> postpone the due date of the monthly paymenu referred to in paragraphs 1 and 2 or change the ataount of such paymenu. � °."'�"�?�`:
<br /> 11.Borrower Nat Released;Furbeazauce BY�der Not a Watver.Extension of the time for paymeut or modification . •:• •
<br /> of amortization of the sums secured by tfris Security Instrument gran�ed by Lender to any successor in interest of Borrower shall
<br /> to retease the liabili of the original Bonower or Borrawer's successors in interest. Lender shall not be required to . . =�'. ' :.
<br /> not operate tY
<br /> commence proceedings against any successor in interesc or re f u se to eaten d t ime f or p a y m e n t o r o t h e r w i s e m o d i f y a m o t t i z a t i o n _
<br /> of the sums secured by this Security Instnunent by reason of any demand made by the original Borrower or Borcower's `;;;
<br /> ��o� ���erest, pny farbeazance by Lender in ezercising any right or remedy shali not be a waiver of or preclude the . ��� •+� , � .:
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<br /> exercise of any right or remedy. ' :''�''• �!� '
<br /> 12. Successozs and Assigns Bonnd; Joint and Several LiabWty; Co-signers. The covenants and agreemenu of this �:"_.. '` - _ y ,. _
<br /> Security Instrument shall bind and benefit the successors and assigns of I.endec and Borrower, subject co the pmvisians ef <-..�� , , rf, -
<br /> aragraph 17. Borrower's covenants and agreemenu shall be joint and several. Any Borrower who ca-signs tl�is Security . ;
<br /> P t and oonvey that `�Yr:. - �f,_�:.=__.:
<br /> Insuument but dces not execute the Note: (a)is co-signing this Secvrity Insuument only to mongage,gran .;,,
<br />� Borrower's interest in the Property under the terms of this Security Insuument;(b)is not personally obligated to pay the sums ``�':'•°���-
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<br /> secured by this Security Insuument:and(c)agreea that Lender and any other Boaower may agree to extend,modify, forb�r or �_ . _�.,_. _
<br /> make any accommodations with regard to the terms of this Security Instrument or the Note without that Boaower's consent. .' ,�;„�
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<br /> - 13.Y.oan Charges• 1f the loan secured by this Securiry lnstrument is subject to a law which seu maximum loan charges. ,,�. ..•:-���:_ z.•
<br /> .f ��_��.-t..--�'-.
<br /> and that law is finally interpreted so that the incerest or other loan charges collected or to be collected in conne�ion with the .:'� - -
<br /> loan exceed the permitted limits,then: (a)any such loan charge shall be reduced by the amount necessary to reduce the charge :,��j,:, _
<br /> to the perrnitted limit;and(b)any sums already collected from Boaower which exceeded pennitted limiu will be refunded to �
<br /> Bonower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct . ' `'��':�__ry.__:. _
<br /> paymeat 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 />• 14.Notices.My notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing :�t yi;�,��;;�-
<br /> it by first class mail unless applicable law requires use of another method.The notice shall be directed to the Property Address _
<br /> or any other address Borrower designates by notice 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 notice to Borrower. Any notice provided for in this
<br /> Security Instrument shall be deemed to have beea given to Bonower or Lender when given as provided in this pzragraph• . '". . '
<br /> 15.GovernIng Law; Severability. This Secwiry Instrument shall be govemed by federal law and the law of the
<br /> jurisdiaion in which the Properry is located.In the even[thai ar.y 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 conflicting provision.To chis end the provisions of this Security Instrument and the Note aze declared
<br /> to be severable. � �
<br /> 16.Bntrower's Copy.Borro�ver shall be given one conformed capy of the Note and of this Seturity Insuument. �
<br /> Form 3028 9190 �
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