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<br /> ments ma no longer be required.at the option of Lender,if mflrtgage insurance coverage (in��ount and for the period ,< , ` " ' -� - � • �;�
<br /> paY y < < . �.
<br /> that Lender requiresl provided by an insurer approved by Lender again becomes available and is obtained. Borrower shall pay .
<br /> the premiums required to maintain mortgage insurance in effect,or to provide a loss reserve,until the requirement for mortgage
<br /> insurance ends in accordance with any written agreement between Borrower and Lender or applicable law. , ,
<br /> 9. Inspectton.Lender or its agent may make reasonable entries upon and inspections of the Properiy• Lender shall give :` . � -
<br /> Borrower notice at the time of or prior to an inspcxtion specifying reasonable cause for the inspection. . .
<br />_ i�. �a��n;,t;an, The pmceedc of any award or claim for damages. direct or consequential, itt connectiun with any � - , � ._
<br /> �� condemnation or other taking of any part of the Property.or for conveyance in lieu of condemnation.are hereoy :wigned and , . . ,.---
<br /> '� - �-� - - _• •.
<br /> :- shall be paiJ tu i.c�ider. ----�'—
<br /> • In the even[of a totai[aking of the ProAerty.the proceeds shall be applied to the sums secured by this Security Inscrument. , _
<br />• whether or not then due. with any exres�paid to Borrower. In the event of a parcial taking of the Property in which the fair '�t ^'
<br /> market value o€the PropeRy immediately before the taking is equal to or greater than the amount of the sums secured by this � �.. -
<br /> Security Instrument immediately befare the taRcing,unless Borrower and Lender otherwise agree in writing,the sums secured by . — _�:�: ,, � _:
<br /> t_,�,
<br />-- u`yis JK���y :�::L:s^e=•^•t •`•h�lZ ti= ""i'sz`=d hy �he am�nnt of the procceds multiplied by the following fraction: (a) the total _ _ _ _ _
<br /> amount of the sums secured immediately before the taking. divided by ib)the fair market value of the Yroperty immeciiaiciy ""' , -� �_
<br /> � before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair • M ;.,_�_
<br /> � market value of the Property immediately before the taking is less than the amount of the sums secured immediately before the ;.-,.'.,7�'��:
<br /> taking, unless Horrower and l.ender otherwise agree in writing or unless applicable law otherwise provides, the proceeds shall
<br /> be applied to the sums secured by this Security Instrument whet}ter or not the sums aze then due. ���F�.°�;
<br /> ' If the Property is abandoned by Borrawer, or if.after notice by L.ender to Borrower that the condemnor offers to make an _
<br /> award or settle a claim for damages. Borrower fails[o respond to Lender within 30 days after the date the notice is given,
<br /> : ;�;.t.�
<br /> Lender is authorize,d to collect and apply the proceeds,at its option,either to restoration or repair of the Property or to the sums ' ..,,-: ��
<br /> secured by this Security Iinstrument,whether or not then due. j...._-��- _'_
<br /> `` Unless Lender and Borrower otherwise a�ree in writing, any application of proceeds to principal shall r.ot extend or _'�-
<br /> � �, postpone the due date of the monthty payments referned to in paragraphs I and 2 or change the amount of such payments. �'�`�.-�
<br /> • ! 11.Borrower Not Iteleased;Forbearance By I.ender No!a Waiver.Extension of the time for payment or modification . �• ,z:���,;:`•=
<br /> : `:� of amortization cf the sums secured by Ihis Secttrity Instrument granted by I.ender to any successor in interest of BoROwer shall , `:'�;;`-
<br /> f not operate to release the liability of the original Borrower or Borrower's successors in interest. I..ender shall not be required to �� `,,�,.,�;.. ,
<br /> ` commenc2 proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization " , ., �.•::�,. -
<br /> � of the sums secured by this Security Instrument by reason of any demand made by the original Borcower or Borrower's . �'��: r'�'��..,;
<br /> � �,--�4;�
<br /> .�? successors in interest. Any forbearance by I.ender in exercising any right or remedy shall not be a waiver of or preclude the -;,_. �=,' :•, �
<br /> "+ exercise of any right or remedy. •� ,
<br /> 12. Successms and Assi�ns Bound:Joint and Seve�al LFabtlity; Co-signers. The covenants and agreements of this s;i •�,
<br /> CSecurity Instrument shall bind and benefit the successors and assigns of Lender a�id Borrower, subject [o the provisions of . • f•: .
<br /> • t paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Bonower who co-signs this Security �..��� r;d�ti�L�'•
<br /> � `� Instrument but does not execute the Note: (a) is catiigning[his Security Instrument only to mortgage, grant and convey that � r:•-�:.^r �!:•:
<br /> � � Barrower's interest in the Property under the terms of this Security In�ctrument: (b?is not personally obligated to pay the sums , � _,
<br /> �... �` �'`�
<br /> '�••� secured by thi5 Security instrumenr and(c)agrees that l.ender and any other Borrower may agree to extend,madify,forbear or ..,,_�
<br /> - ; make any accammodations with regard to the terms of this Security Instrument or the Note without that Horrower's consent. �__
<br /> .� � 13.Loan Charges. If the loan secured by this Security Instrument is subject ta a law which sets maximum loan charges. :r, _
<br /> ' i and that law is finally interpreted so that the interest or other laan churges collected or to be coUected in connection with the -• -_y_
<br /> ,- ,� loan exceed the permitted limits,then: (a)any such loan charge shall be reduced by the amount necessary to reduce the charge _'��,�,,,,,�
<br /> :; to the permitted limit;and(b)any sums already callected irom Borrower which excee.ded permitted limits will be refunded to :�_,�,;,�.�_-�.
<br /> �•t Borrower. Lender may choose to matce this refund by redueing the principal owed under the Note or by making a direct -.
<br /> payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any
<br /> �;.
<br /> �' •`�. prepayment charge under the Note. �
<br />-- _ . _. . n .__.,_....:a..a i.:� ��jq�orgry'tv i.,�rn,mPnr chatl be Qiven bv deliverin£it or by mailing ,��• = �'�•�•�
<br /> - - — 14.PIOi1CRS.%1�ry uuu�:C io uo...;:+..� r............... .. . ___ , -. . ._ _ ,.._= --
<br />' ' ' it by first class mail unless applicable law requires use of another methud.The notice shall be directed to the Property Address =_ �� �
<br /> or any ather 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 desisnates by natice to Banower. Any notice provided for in this � ����'..�.
<br /> , Security Instrument shall be daemed to have bcen given to Borrower or Lender when given as provided in this paragraph.
<br /> :.�'�-�_.
<br /> . 15.Governing Law; Severability. This Secarity Imtniment shull be govcrned by federal law and the law of the >.._...�i.�.
<br /> }urisdiction in which the Property is located. in the event that any provision or clause of this Security Instrument or the Note ;,;;, ,�..;�_�iE:_=.__
<br /> � conflicts with applicable•�aw.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 this end the pmvisions of this Securiry Instrument and the Note are declared �r,�;.•�� i ,
<br /> .�'; ..:� .
<br /> to be severabte. �� . ��.
<br /> 16.Borrower's Copy.Borrower shall be given one conformed cupy nf the Note and af this Security Instrument. � . ;
<br /> .���1�.,�"„r. "�,.'_
<br /> Form 3028 9/90 ___ __. _ ;o.,
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