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<br /> a ments ma nn lon er be r uired, at the o tion of Lender.if mort a e insurance cJ eia e���am��and for the eriod r * � � -
<br /> pY Y S e9 P� 8g � P . _,
<br />` : that I.ender requires)provided by an insurer appruved by Lender again becomes available and is obtained. Borrowcr shall pay , ;
<br /> the premiums reyuired to maintain mortgage insurance in eft�ect,or to provide a los�ti reserve,until the requirement for mortgage • _ -
<br /> insurance ends in accordance with any written agreement between Borrower and L.ender or applicable law. ' • •
<br /> 9. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give ` • �»
<br />- Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. `� -�-�
<br /> 10. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any , ' , ,�
<br /> condemnation ae ather taking of any part of the Property,or for conveyance in lieu of condemnation, are hereby assigned and � ` . � ,
<br /> shall be paed to Lender. L._. ... .
<br /> In thc event of a total taking of the Properry.the pmceeds shall be applied to the sums secured by this Securiry Instnunent, - ' '� -
<br /> whether or not then due. with any excess paid to Borrawer. In the event of a partial taking uf tfie Property in which the fair _ . . � -=_
<br /> .. .- �
<br /> market value of the Property immediately before the taking is equal to or greater than the amount of the sums secured by [his •`Y�,��,•::°��.'
<br /> Security Instrument immediately before the taking, unless Borrower and I.euder otherwise agree in writing,the sums secured 6y ` �.F, _--
<br /> t,4iis Security Instrument sha!( be reduced by the amount of the proceeds multiplied by the following fractian: (a) the total . ;=��_;.f�
<br /> amount of the sums secured immediately before the[aking, divided by (b) [he fair market value of the Property immediately ' � -�x. :,�'
<br /> before the taking. Any balance shall be paid to Bonow•er. In the event of a partial taking of the Property in which the fair ��';�'--
<br /> � market value of the Property immediately before the taking is less than the amount of the sums secured immediately before the ' � 'F��� ��'_�;
<br /> '��.:�.�_�
<br /> taking, unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides. the proceeds shall ,��r_��==�
<br /> be applied to the sums secured by this 5ecurity Instrument whether or not the sums are then due. • '�': :Tf•�°•- _
<br /> If the Property is abandaned by Sorrower,or if,after notice by I,ender to Borrower that the condemnor offers to make an �,.;��:�"��;�.-._� ,
<br /> _ award or setde a claim for datnages, Bonower fails to respond to Lender within 30 days aher the date the notice is given, :�: T�:�-'
<br /> Lender is authorized to collect and apply the proceeds,at its option,either to restoration or repair of the Property or to the sums � - �'�"
<br /> ; ; ; .,.:' - - �.;;�:"
<br />'"� secured by this Security Instrument,whether or not then due. `�;��.,* ��_:.i__
<br />. i Unless Lender and Borrawer otherwise agree in writing, any application of procceds W principa! shall not extend or �•- ���'�..
<br /> ,:
<br /> postpone the due date of the monthly paymenu referred to in paragraphs l and 2 or change the amount af such payments. `' �:.b�
<br /> ' '' 11.Borrower NoE Released;Forbearanoe By Lender Not a Waiver. Extension of the time for payment or madification - - - •
<br /> of amortization of the sums secured by this Security Inshvment granted by Lender to any successor in interest of Boaower shall ' •• �
<br /> tA !/ , �.�
<br /> not operate to reiease the liability of the original Borrower or Bonower's successors in interest. Lender shall not be required to �
<br /> cammence proceedings against any successor in interest or refuse ta extend time for payment ar otherwise modify amonization ' �:°
<br /> of the sums secured by this Security Instrument by reason of any demand made by the original Borrower ar EorrowePs :. �y. " -
<br /> successors in interest. Any forbearance by L.ender in exercising any right ur remedy shall nat be a waiver of or preclude the ��
<br /> k;l , :fr
<br /> exercise of any right or remedy. •. .i �
<br /> 12. Successors aad Assigns Baun�:Joint and Several Liabiltty; Ca-sJpners. The covenan[s and agreementc of this ��-=
<br /> �:�������`
<br /> Security Insuument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of ��*r� _..__
<br /> paragraph !7. Horcower's covenants and agreemenu shall be joint and several. Any Borrawer who co-signs this Security �- • - "`�
<br /> •�. ..,k::.-,:- ;
<br /> Instrumeni but does not execute the Note: (a) is co-signing this Security Instiument anly to mortgage.grant and convey that - -:
<br /> Borrower's interest in the Property under the terms of this Security Instrument: (b)is not personally obligated to pay the sums ,,�.;
<br /> secured by this Security Instrument;and(c)agrees that Lender and any other Borrower may agree to extend.modify,forbear or r .,,,._� '"'-"
<br /> make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's wnsent. �.'.�° -_
<br /> 13.Loan Ct�arges.If the loan secured by this Security Instn►ment is subject to a law which seu maximum loan charges, � �,rL =-
<br /> and that law is finally interpreted so that the interest or other loan charges collected or to be collected in cannection with the ��._.�-
<br /> loan exceed the permitted limiu,then: (a)any such loan charge shall be reduced by the amount necessary to reduce the chazge -�, - �—
<br />- to the permitted limit; and(b)any sums already colle�ted from Borrower which exceeded permitted limiu will be refunded to ��_'�:—--- ��
<br /> Borrower. I.ender may choose to make this refund by reducing the principal owed under the Note or by making a direct
<br /> payment to Borrower. If a refur.d reduces principal. the reduction will be treated as a partial prepayment without any - -
<br /> prepayment charge under tSie Note. _ -
<br /> , 14.Notices.Any notice to Borrower pravided for in this Security Instrument shall be given by delivering it or by mailing ;;.:, ,�,,, �
<br /> it by first class mail unless applicable law reqnires use of another method. The notice sha11 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 m�il to ' �'c`�'
<br /> .�:''i'., .�
<br /> L.ender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this ,.-�--�-,-�:��:-
<br /> Securi Insuument shall be deemed to have been �ven to Borrower or L.ender when �ven as rovided in this ara ra h. � '"T"'���`��'�'``�""
<br /> �Y �� S� P P S P -�,�_:�-_�.-�_--..�
<br /> 15.Governing Law; 9everabiilty. This Security Instrument shall be govemed by federal law and the law of the �"'"'• . ,; �__,
<br /> jurisdiction in which the Property is located. in the event that any provision or clause of this Security Instrument or the Note •;-?�m�.n,.� _��•,
<br /> conflicts with appliqble law.such conflict shall not affect other provisions of this Security Instrument or the Note which can be "���""'
<br /> given effect without the conflicting provisian.To this end the provisions of this Security Instrument and the Note are declared - � � *� �
<br /> to be severable. ���`��'�''_-
<br /> �.�..�;:k.�s;iF,s z'x:�.
<br /> 16.Borrawer's Copy.Bortower shall be given one conformed copy of the Note and of this Security instrument. � . � ,
<br /> �,�:.,�r�•�.� _ ..
<br /> Form 3028 9/90 • �
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