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<br /> 9�Ug��`��� ., . . __
<br /> a ments ma no lon cr b�r uued,at the o nion of L.ender,if mon a e insurance c.overa e(in the amount and for the eriod � ' ��
<br /> � PY Y B �1 P B8 � P � . , .
<br /> � �tio+t Pnr4+r rn-..�n��imcl jn,.m_yi�lnd hv an inc��re�aanmv��l Ay i.en�te.r a�a�n hea�mes availablc and ic obtained_Borrower shall nay the . . . �
<br /> premiums rc:quired to maintain mortgage insurancc uf effect,or to provide a loss reserve, unW the requirement for mortgage �
<br /> insurance ends in accordancc with any written ageement between Barrowcr and Lcnder or applicable law. ,
<br /> 9.Inspection. l.ender or its agent may make reasonable entries upon and ins�ecuons of the Proper[y_ Lender shall give
<br /> Bormwer notice at the tune of or prior to an inspecaon specifying reasonable cause for the inspeaion. _
<br /> 10.CoademnatEon. 'IYie proceeds of any award or ctaim for damages, direct or consequenrial, in coru�ection with any i • �
<br /> condemnation or nther ta�sing of any part of the Progerty,or for canveyance in lieu of condemnation,are hereby assigned and '
<br /> shall be paid tn Lender. , �. , •
<br /> ` In the event of a wtal takia�g of the Pmperty,the proceeds shall be applied w the swns secured by this Security Instrument, , "
<br /> wheWer or noi Ehen due,with any excess paid to Borrower.In the event af a partial taldng of the Property in which the fair market
<br /> .� value of the Property imncediately before the taking is equal to or greater than the amaunt of the sums secured by this Security . . �
<br /> .� Instrument immedianely before the taking, unless Borrower and L.ender otherwise agree in writing, the sums secured by t4is ; " ' .
<br /> Security Insuument shall be reduced by the amount of the proceeds mulaplied by the following fracdon:(a)the total amount of ; T----` �
<br /> the sums secured immediately before the taking,divided by (b) the fair market value of the Property immediately before the �
<br /> . takiag.Any balance shall be paid to Borrower.In the event of a partial taking of the Property in which the fair market value of the ' "°,
<br /> ' Property immediately before the taldng is less tuan the amount of the sums secured immediately before the taking, unless � � ,
<br /> Borrower and Lender otherarise agree in wriring or unless applicable law otherwise provides,the proceerls shall be applied to the � � � � �
<br /> swns secured by this Security Ins�ment whether or not the sums are then due. " . •�
<br /> � If the Propeny is abandoned by Borrower.or if,after notice by Lende,r to Borrower that the condemnor ofFers to make aa ' , . ,
<br /> award or seWe a claim for damages,Borrower faiLs to respond w L.endca within 30 days aftcr the date the notice is given,Lender � . -
<br /> is authorized to collect and apply the proceeds,at its option,either to restoration or repaff of the Property or to the sams secured f • `�°
<br /> by this Securiry Insuument,whether or not then due. � � ' ,�� 'r.'t-
<br /> � Unless I.ender and Bonowea otherwise agree in writing,any application of proceeds to principal shall not extead or postpone . �;�. _�?"—
<br /> the dae date of the monti�ly payments refesred to in paragraphs 1 and 2 or change the amount of such payments. i_��;�:�
<br /> . j 11.Borrower Not Re�eased;Forbearance By Lemder Not a Waiver. Eatension of the time for payment or modificarion : , ._;�= '_ ��
<br /> ! of amortizarion of the sums seciued by this Secariry Inswment granied by L.ender tn any sucxessor in interest of Boaower shall � �. ��
<br /> not oFerate to release ihe liability of the original Borrower or Borroaer's successors in interest.I.ender shall noi be required to , � . • .�
<br /> commence proceedings against any successor in interest or refuse W extend time for payment or otherwise modify amorti7ation of � • �
<br /> • • the sums secured by this Security Instrumeat by reason of any demand made by the original Borrower or Borrower's successors ! - � �
<br /> in intemst Any forbeaiance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any � '!':�'" :
<br /> , rigbt or remecly. . �'. �:!
<br /> lZ.Successors and Assigns Bound;Jomt and Several Liability;Co-signers. The covenants and agreements of this � ` � ,.�y;,;�.��
<br /> � Sec�uity Instrnment shall bind and benefit the successors and assigns of I.ender and Borrower, svbject w the provisions of � �
<br /> paragrdph 17. Boaower's covenanLS and agreements shall be joint and seveial. Any Bormwer who co-signs this Security � ��� �?'�
<br /> � _ Instnunent but daes not eaecute the Note: (a) is co-signing this Security InsWment only to mortgage,grant and convey that `� � .. ���L� ,_
<br /> B oTrow e r's i n t e r e s t i n t h e P r o p e r t y und e r the terms of this Securi ty Insuumen t;(b)is not p e r sonall y obli gated ro pa y the sums � � :.;�y�^
<br /> secnred by this Security Instrument;and(c)agrees that Lcnder and any other Borrower may agree w extend,modify.forbear or • • ,�:. .% <
<br /> n,ake any accommodations with regard to ihe terms of this Security Instrument or the Note without that Borrower's consent � , � _"-�,-
<br /> "� 13.Loafl C6arges. If the loan secured by this Security Instrumeut is subject to a law whicb seis maximum loan charges, �""S" �
<br /> _ and that law is finally interpretecl cn that the interest or other loan chaorges collected or to be collected in connecdon with the loan _ _ _'_ ��
<br /> � eaceed the peamitt,ed limits,then:(a)any such loan charge si�all be reduced by the amount necessary to reduce the charge w the � • • .
<br /> � pemritted limit;and(b)any sums already colle�xed from Borrower which exceeded pemiiued limits will be refunded to Borrower. �
<br /> Lender may choose w make this refnnd by reducing the principal owed under Ihe Note or by making a direct payment to . ' ',.';T=.- .�
<br /> `i Borrower. If a refund ceduces principal,the reduction will be treated as a partial prepayment without any prepayment charge � • -�.�
<br /> � under the Note. . ,`-
<br /> 14.1Hotices. Any notice w Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it ���.
<br /> by fust class mail unless applicable law reyuires use of another method.The notice shall be directed to the Property Address or �. • . �:�� ..
<br /> any other address Bonower designates by notice to Lender.Any notice w Lender shall be given by first class mail to Lender's • . .'_ °
<br /> � address statEd herein or any other address Lender designat,�s by notice W Boaower. Any notice provided for in this Security i • –
<br /> Instrument shall be dee�ned to have been given to Borrower or Lender when given as provided in this paragraph. t '
<br /> ( l5.Goveroing Law;Severability. This Security Iastrument shall be govemed by fedetal law and the law of the � . • . ;. '
<br /> � jwisdic8on in which the Properiy is lacated. In the event that any provision or clause of this Security Instrument or the Note
<br /> 1 conflicu with applicable law,such conflict shall not affect other provisions of this Seciuity Inswment or the Note which can be ; •
<br /> given effect without the conflicting provision.To this end the provisions of this 5ecurity Inswment and the Note aze declared to i
<br /> be severable. � �
<br /> . Form 3028 9/90 �
<br /> �-8R(NE)iozi 2i.o� Papo a oi e imaaia: � ._.
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