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<br /> � paJ•ment�mav no longer be required.at the uptiun uf Ixnder. if mortgage insurance cocerage(in the amount and far the period . � . ,� ``=
<br /> � �hat L.endrr rcquirc.w)provided by an in.urer appravcd by Lender again F+ccome.a��ailablc:usJ i.��btaineii. Borrc�wer�hall pay � ;�
<br /> ' thr premium.teyuircd to m:unt3in mongage intiurancr in effcxt.ur to providc a lu+.retienr. until the rcquirentent for mortgagc '�•
<br /> in.ur�nre endo i�acroniancc with any written a�rcem�nt netwc;en Born�wcr:uid[..ender i�r appticahlr law. . ��;
<br /> 9. Insp�t[on. Lsnder cn►t+ ag��nt may malce rca�urtabfe entrie+ upun and intipectium�if Ihe Pruprrt). Lrnd�r.hall give ` . � _
<br /> Buttower nutice at the time csf or pnor to an in,pertion+peci(ying rw.tiunabie cause for thr m,petitiun. • , , �
<br /> - 10. �'ondemna4ion. The proceeds af any award ar claim for d:unages. dircct ur cumequcntial. in runnection with any t,,.
<br /> ' rundemnation i�r uthcr taking of sny part of the Property,nr for cemvey:u�re in lieu uf condemnation,ar�herehy astiignc�l and _
<br /> � ,hall be paid to L.ender. ' � . , �
<br /> In the event of a tot;il taking uf die Property.the proceeds shall be applied to the�ums u�ured hy this Security Instrument, , _
<br /> whether or not then due. with any excess paid to Borrower. In the event of a p�.utial taking of[he Property in which the fair . , , _ "+:_�'
<br /> market value of the Property immediately before the taking is equal to or greater than the amuunt of the sums secured by this , �_-� -, - --
<br /> ` Security Instrument immediately before the taking.unless Borrower and Lender otherwise agree in writing.[he sums secured by <.;.�..; ..0 "
<br /> . , � s.:..�,r—
<br /> � this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: lal the total . �
<br /> amount of the sums secured immediately before the taking, divided by(b)the fair market value of the Property immediately -'"!�'���.
<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 � �- `
<br /> ,: market value of the Propeny immediately before the taking is less than the amount of the sums secured immediately before the :<��_,
<br /> taking. unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides,the proceeds shall . • ':•-
<br /> � be applied to the sums secured by this Security Instrument whether or not the sums are then due. ' �'�����=�-�__�•
<br /> t��C�,;�.,��-_
<br /> If the Property is abandoned by Borcower,or if,after notice by C.ender to Borrower that the condemnor offers to make an , �. , �,�,�
<br /> ,.�__-
<br /> award or settle a claim for damages. Borrower fails to respand to Lender within 30 days after the date the notice is given. . ._��.+�sr�•-
<br /> � Lender is authorized to collect and apply the proceeds.at its option, either to restotation or repair of the Property or to the sums •�. ,�
<br /> ' secured by this Security Instrument,whether or not then due. ��-�;��'� '
<br /> .; Unless Lender and Borrower othenvise agrcx in writing, any application of proceeds to principal shall not extend or ' ��� `
<br />•'�j postpone the due date of the monthly paymenu referred to in paragraphs 1 and 2 or change the amount of such payments. : '�-�`�
<br />'. } 11.Borrower Not Released;Forbearance By Lender Not a Waiver.Extension of the time for payment or modification � : �- '� ' T- �
<br /> ` of amortization o f t he sums secur e c i by t his Securi ty I n s t r u m e n t g r a n t e d b y Lender to an y successor in interest of Borrower shall � �;- �
<br /> ��� noi operate to release the liability af the original Borrower or Borrower's successors in interest. L.ender shall not be required to
<br /> commence proceedings against any successor in interest or refuse t�extend time for payment or othenvise madify amartization
<br /> of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's . �
<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 /> ,, .
<br /> exercise of any right or remedy. 1� � i ' -
<br /> 12. Successors and Assigns BouRd; Joint and Several Liability; Co-signe�s.The covenants and agreements of this ;,�;'' ;;;: �
<br /> Securiry Instrument shall bind and benefit the successors and assigns of l.ender and Borrower, subject to the provisions of '-�` f � ��-
<br /> paragraph 17. Borrower's covenants and agreements sha l l be joint an d severa l. Any Borrowe r w ho co-si g ns t h i s S e c u ri ty •;{ ,. � '�t ��
<br /> I n s t r u m e n t b u t d o e s n o t e x e c u t e t h e N o t e: (a) i s c o-s i g n in g this Securit y Instrument onl y ta mortgage, grant and convey that •.-+a:,.� ' -�.`�j��� '�
<br />- Borrower's interest in the Property under the terms of this Security Instrument; fb}is not persanally obligated to pay the sums ', t�
<br /> secured by this Securiry Instrument:and(c)agrees that Lender and any other Borrower may agree to extend,madify,forbear or • ��
<br /> make any accommodations with regard to the terms of this Security Instrument ar the Note without that Borrower's consent. '��,�1—���.,�
<br /> 13. Loan Charges. If the laan secured by this Securiry Instrument is subject to a law which sets maximum loan eharges, �"1°___—
<br /> and that lnw is finally interpreted so that the interest or other loan charges collected or to be coltrcted in connectian with the ����"
<br /> loan exceed the permitted limits, then: (a)any such loan charge sha11 be reduce{i by the amount nececsary to reduce the chazge ''`�+`rc'��
<br /> �'s�� . - 9*�..,-,�,, �:
<br /> - to the permitted limit;and lb)any sums already collected from Borrower which excee�ed permitted limits will be refunded to
<br /> Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct � '��m�,a;._.
<br /> payment to Borrower. If a refund reduces principal. the reduction will be treated as a partial prepaymeni without any "�°�R`
<br /> ' prepayment charge under the Note. �, ` �,�`�``
<br /> 14.Notfe.es.Any notice to eorrower provided for in this Securisy Instrumen[shall be given by delivering it or by mailing ����
<br /> �_ it hy tirct cla�s mail unless applicable law requires use of another me�i�od.The notice shall be directed to the Property Address _ _;�����:
<br /> . or any other address Borrower designates by notice to Lender. Any natice to Lender shall be given by first class mail to �.";�` "• '�"�� —
<br /> r,�, �;• �'. -
<br /> Lender's address s[ated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this ����
<br /> w r or Lender when iven as rovided in this ara ra h. �-����-�.�..F.,.
<br /> Securiry Instrument shall be deemed to have heen given to Borro e � p P ffi P • �
<br /> 15.Goveming Law: 5everability. This Security Instrument shall be governed by federal luw and the law of the �'�`"�'�''`�`'� � `';`�,� _
<br /> jurisdiction in which the Property is located. ln the event that any provision or clause of this Security Instrument or the Note -�.'�'=�
<br /> conflicts with applicable law,such wnflict shall not affece other provisions of this Security Instrument or the Nate which can be �...��,y�;�,.��.��. �� �
<br /> given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared :x..:.-..-�.�+.�.. .;
<br /> �".7t.T'�,
<br /> to be severable. ���"�.���
<br /> 16.Borrower's Copy.Borrower shall be given one conformed copy of the Note and of this Security Instrument. ' -'�'� � ��
<br /> � form 3028 9/90 � . ' ` �`�..
<br /> • Page 4 0l 6 .
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