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<br /> . payments may no longer be required,at the option of Lender.if martgage insur'dnce coverage(u►the amount and for the geriod _ •
<br /> that Leader requires)provided by an insurer approved by I.ender again becomes available and'u obtainea.Borrower shali pay the . ��
<br /> E
<br /> � p���s �����in paortgage ins�rance in effect,or to provide a loss reserve.untii the requirement for mongage � . , �_
<br /> insurance ends in accordance with any written agreement between Bomower and Lender or applicable law. : -
<br /> - 9.Inspec4inn. I.ender or its agent may suake reasonable entries upon and inspecdons of the Froperty.Lender shall give f : • �
<br /> �. _
<br /> Borrower notice az the cime of or prior to an inspection specif5'ing reasonable cause for the inspection. - -�
<br /> �.
<br />`' 10.Condemuation. 'Ihe proce�ds of any award or claim for damages, direct or consequential, m connection with any �' .
<br /> condemnarion or oWea taking of any part of the Property,or for conveyance in lieu of condemnation,are hereby assigned and .
<br /> shall be paid w Lender. , • • • _..
<br /> In the event of a Wtal taking of the Property,the proceeds shaU be applied w the sums sec�red by this Security Ins�ument, . .
<br /> whedier or not then due,with any excess paid to Borrower.In the event of a partial taku►g of the Propercy in which t�e fair markee .
<br /> value af the Property immediarcly before the taking is equal to or greater than the amount of the sums secured by this Security � .� —_____
<br /> In,4trument immediately before the taking,unless Bonower and L.ender otherwise agree in writing, the swns secured bY tWs � . . -
<br /> gecurity Iastmment shall be reduced by the amount af the proceeds multiplied by the following fraction:(a)the total amount of � �, ,.�_
<br />. the sums sQCUred immediately before the taking,divided bY(b) the fair market vzlue of the Propeny immediately before the _ �� �� :�`
<br /> talring.Any halance shall be paid to Bo:rower.In the event of a gartial taking of the Property m wlu�h the fair market valus of the � , ;.`.y'.; , =��
<br /> property immediatety before the ta�►g is less than the amount of the sums setured immediately before the taking, unless . . �:�;__
<br /> Boirowes and Lender otherwise agree in writumg or unless applicable law otheaa+ise pmvides,the proceeds shall be applied w the � * ,. -=�-- -_
<br /> sums sec�ced by this Security Instrument whethe,�or not the sums are then due. { - ���.
<br /> If the Pnoperty is abandoned by Borrower,or if,after notice by Lender to Borrower that the condewnor offeis to make an r . ,t,�-
<br /> award or seule a claim for dama,ges,Bomowea faiLs to respond to I.ender within 30 days after the date the norice is given,l.euder �; • ' �
<br /> thorized tn coltect aad 1 the proceeds,ai its option,either to restoration or repair of the Properry or to the s�ms secured ` . , � '`'^�'.`_';;
<br /> is au aPP Y I ?`:
<br /> �:.j. by this Secvrity Inskume�►L a+hethea or noi then due. � • �
<br /> fica�tion of roceeds to princi shall not extend or postpone � ���� ���'�
<br /> . Unlass Lender and Borrower otherwise agree in writing,anY aPP � p � .•
<br /> "�, the due date of the monthly payments referred to in P�S�Pbs 1 and 2 or change the amount of such pay�ments. � . v , �' �. _
<br /> i 11.Borrower Not Released;Forbearauce By Lender Not a Waiver. Extension of the time for payment or modification ' ,,.:� j .:
<br /> � •,� _.
<br /> artizaCi�n of the sums secured by this Security Insuument granted by Lender to any successor in interest of Boaower shall � _ :�::.:
<br /> � of am •-
<br /> not opeaate w release the liability of the original Barmwer or Borrower's successors m int�est.I.ender shall not be required to �5-a r .� �
<br /> �; '�r --
<br /> wmmence praceediags against any successor in interest or refuse to extend time for payment or otherwise modify amortization of ; � ��, "`', %. �
<br /> �e sums se�red by this gecnrity InsOrument by reason of ar►y demand made by tf�e original Borrower or Borrower's successors �,:, `;�� ` t
<br /> in inte�est Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any � {'►"
<br /> , :�:,,}� � .
<br /> right or remedy.
<br /> {" � i �.
<br /> 12.5nccessors and Assigns Bound;Joint and Several Liab�ity; Co-sign�rs. The covenants and agreements of this `!� �
<br /> .'��" . . �I:.
<br /> gecurity InsUiunent shall bind and benefit the successors and assigns of l.ender and Borrowea, subject to the provisions of _ __:.___ . ..� . .
<br /> c E�
<br /> paiag�apb I7. Borrower's coveuanis and agreements shall be joint and seve:al. My Borrower who co-signs this Security Y, � .
<br /> Instrument bat does not execute ihe Note: (a) is co-sigmng 11iis Security Instrument only tn mortgage,grant and convey that .
<br /> Boirower's inteaest in the PropercY undea the tem�s of this Secw�ity Instrument;(b)is not personally obligated w pay the sums y:�.
<br /> seciued by this Security Insuumenx and(c)agrees that Lender and any other Borrower may agree w eatend,modify,fozbear or .�,��
<br /> make any accommodarions with regard to the terms of this Security Instrument or the Note without that Borrower's consent __�. -�
<br /> 13.Loan Charges. If the loan secured by this Secw�ity Insuument is subjea to a law which sets ma�cimum loan charges, --� �_ __
<br /> and that taw is finally intelpreted so that the interest or other loan charges coUected or tn be collected in connection with the loan : ..'.��T:
<br /> � excee�the permiaed limits.then:(a)any such loan charge shall be reduced by tt�e amount necessary to redace the charge w the , - - ' y,, —
<br /> permiued limi�and(b)anY sums already collected from Botrow�which exceeded penniued limits will be refunded to Borrower. ; �-�:� ���°�'�
<br /> �• i•.�r --......1,_
<br /> Lender may choose tn ma1�e this refund by reducing the principal owed �nder the Nose or by making a direct payment to . �` �'Il
<br /> ent withaut any pzepayment charge �'
<br /> Borrower. If a refund reduces principal.the reducaon will be ueated as a pa:tial prepaym : '
<br /> nr►dea the Note. .
<br /> 14.Noticea Any notice w Bonower provided for in this Sccurity Instcument shall be Biven by deGvering it or by mailing it •• �'
<br /> : .�. ..:._�_..
<br /> by first class mail unless applicable law req�ires use of another method.The narice shall be directed to We Property Address or . �
<br /> any other address Boirower designates by notice ro Lender.My notice tn Ler�der shall be given by fust class mail to Lender's ,
<br /> address siated herein or any ather address Lender designates by notice to Borrower. My notice provided for in this Security .- .
<br /> • Instrument shall be deemed to have been given to Barrower or Lender when given as provided in this para�aph. -
<br /> I5.Governtng Law;Severabilitg. 'Il�is Seciuity Insuument shall be gmemed by federal lativ and the law of the � � � . �
<br /> jwisdiction in which the Property is located• In thQ event that any pmvision or clause of this Security Instrument or t�►e Note , ..
<br /> , conflicts with applicable law,such wntlict shall not affect other provisions of this Securiry Insuument or the Note which can be • ,
<br /> given effect without the wnflicting provision.To this end the provisions of this Security Instnunent and the Note are declared to . . _
<br /> be severable. .. �
<br /> Form 3028 9/90 �
<br /> �-BR(NE)�e2�2t�o+ Pageaote imna�s: � . . . �-
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