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<br /> jpayments may no longer be required,at tlie option of Lender,�f martgage insurance ooverage(in the amount and for the period � . � -
<br /> j Wat Lender requires)provided by an insurer approved by Ixnder again becomes available and is obtained.Borrower shall pay .
<br /> �� [he premiums required to maintain mortgage insutance in effect,or to provide a loss rescrve,until the requirement for mostgage �
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<br /> �' � insurance ends in accordanse with any written ag�ezment between Borroarer and I.ender or appiicabie law. �, � -. : - - �
<br /> 9.Inspeaton.Lender or iu agent may make masonabte entries upon and inspectioas of the Property.Lender shall give � . �
<br /> Borrower aotice at the time of or prior w an inspeaion specifying reasonable cause for the inspecaon. � �
<br /> 10. Condeaanat�on. The proceeds of any award or claim for damages,dimct or consequential, in connection with any , � . .
<br /> condemnaaon or other ta�of any part of the Property, or for conveyance in lieu of condemnsrion,are hereby assigned and . � •, `�
<br /> shall be paid to Lender. �_ � • `
<br /> In the event of a total tal�ng of the Property,the proceeds shall be applied to the sums secvred by this 5ecurity Instrument, E ,. � , ' '
<br /> wheth�r or not then due, with any excess gaid to Borrower. In the event of a partial taking of the Property in wtuch the fair � � ,
<br /> market value of the Property immediately before the talang is equal to or greater than the amount of the sums secured by this , -
<br /> Security Insuument immediately before the taking,unless Borrower aad Lender other�vise agree in writing,the sums sec�.rred by : •� �""'�;�' �
<br /> this Security Instrument shall be reduced by[he amount of the pmce�ls mnitiplied by the following fiaaion: (a) the wtal ` ., v
<br /> amount of the sums secured immelliarely before the taking,divided by(b) ihe fair markei vatue of the Property immediately ! ' ' � .. ��
<br /> : before the takiag. Aay balance shall be paid to Borrower. In the event of a partial taking of the Property in wnich the fair ; � � �� .f`�
<br /> market value of[he Pmperty immediateiy before the taldng is less than the amoum of the snms secured immediately before the � - �
<br /> �! taking,�ess Borrower and Lender otheiwise agree in writing or unless applicable lnw othetwise pmvides,the pmceeds shall r . , . ,...
<br /> ' be aPPlied to the sums secured by this Security Insa�ameat whether or not the sums are then due. � � - --.`'�`��
<br /> - � 1f the Progerty is abandoned by Borrower,or if,after natice by L.ender to Bosower that the condemnor offe�s co mate an : � ,�_:#..�
<br /> award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, '�;�� i�—
<br /> " � Lender is authorized w collect and apply the pmceeds,at its option,either to resioration or�repair of the Property or to the sums • � �::i`
<br /> securetl by this Security Insuument,whether or not then due. - . '.- �
<br /> Unless Lender and Borrower otheiwise agree in writing, anY aPPUcation of proceeds to principal shnll not extend or . . ��. ,.�-.;; `�� .
<br /> ' postpone the due date of the monthly payments referred w in paragraphs 1 and 2 or change the amount of such payments. '? . � _
<br /> . 11.Bormwer Not Released;Forbearance By Lender Not a Waiver.Extension of the time for paymeat or modification �,�•i' �'� �
<br /> of amortiistion of the sums secumd by this Secairity Insuument guanted by Lender to any successor in interest of Boaower shall � . ,• ;; �;; '
<br /> not operate to release the liability of the original Borrower or Borrower's successors ia interest. Lender shall not be requared to .��,
<br /> � commence proceediugs against any successor in interest or refuse to entend time for payment or otherwise mcdify amorti7ation ' '� "�
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<br /> � of the sums secured by this Security Tnstrnment by reason of any demand made by the original Borrower or Borrower's � . ,�vri�,:..
<br /> successors ia interest.Any forbearance by Leader in exercising any right or remedy sball not be a waiver of or preclude the ,��,,� ,�;�
<br /> -- exercise of any right or remedy. � �-�-�' � g ��'
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<br /> 12. Suoeccsors and Asslgag Bound; Joint and Several Liab�t4y; Co-signeis. The covenants and agreements of this . :..€ :,..,__
<br /> 7� Securlty Insueiment shall bind and benefit the successoru and assigns of Lender aud Borrower, subject to the pmvisions of '�. :• ` �'`
<br /> um ;:
<br /> paragraph 17. Borrower's covenants and agreemenu shall be joint and several. Any Borrower who co-signs thia Security .� ' .��--:
<br /> • • Insuument buc does noi execute the Note: (a) is co-signing thia Se�urIty Insuument only to mortg,age, grant and convey that • � �-'. �'`�
<br /> Borrower's interest in the Property under the terms of this Security Instrument; @)i�noi petsonally obligazed to pay the sums ' �J�_` '
<br /> secared by Wis Securlty ,m- t;and(c)agrees that Lender aad aay other Bormwer may agrce to extend.modifY.forbear or .- --_ ;a,, _.,—,,
<br /> make any aocommodations with regard to the terms of this Se�urity Insuument or the Note without that Borrower's consent. . ., . :
<br /> 13.L�n Ch�eges.If the loan seaued by th9s Securiry Instrument is subject to a law which seta maaimum loan charges, r
<br /> and that law is fiaally interpreted so that the interest or other loaa charges collected or to be colleaod in wnnection a►ith the . �,�. .������
<br /> � loaa excced the rmitted limits,then:(a)any such loaa charge ahaU be reduced b the amount n to zoduce the charge . , • 7`'�'�.
<br /> Pe Y �Y �.,..'•.,� _.
<br /> ro the permitted limit;and(b)aay sums already collected&om Bosower which exceeded permitted limits wiU be refunded to t�`.- •.
<br /> Borrower. Lender may choose[o make tl�is refund by reducing the piincipal owed under the Note or by making a dit�ect ' '''�
<br /> payment to Borrower. If a refund rectuces principal, We reductlon will be tceated as a paraal prepayment without any . .... � � '�'"�
<br /> prEpayment charge under the Note. � ._
<br /> 14.Notices. Any notice to Bormwer provided for in this Sec,urity 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 aotice shall be direcxed to the Property Addiess
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<br /> or any other address Bomower designates by nodce to L,ender. Any notice to Leader shall be given by first class mail to .. • • . .
<br /> Lender's address stated herein or any other address Lende:designates by aoHce to Borrower. Any notice provided for in this � . .. °'
<br /> .� Security Insuument shall be deemed to have been given to Bormwer or Leader whea given as provided Ia this paragraph. � , '
<br /> 15.Governing I.aw; Severability. This Securiry Instrument shall be govemod by federal law and the law of the , . ' �
<br /> � jurisdiction ia alucH the Pcoperty is locxted.In the event that any provision or clause of tl�is Se��rity Inst�ument or the Note
<br /> contlicta with applicable law,auch conflict shall not affect other provisions of this Secauity Instru�nt or the Note which can be �
<br /> given effect without the conflicting pmvision.To this end the pmvisions of thls Secarity Instrument and the Note are declared � . ' .
<br /> to be severable. "
<br /> 16.Borrower's Copy.Borrower shall be given one conformed copy of the Note aad of this Security Instrument. , ,� '
<br /> ' Form 3028 9190 � . ,
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