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<br /> � 97-� 10�3 � . _ ; ; � .. ;-�
<br /> payments may no longer be required,at the opuon of Lender,if mortgage insurance coverage(in the amount and for � od `
<br /> , that Lender requires) pmvided by an insurer appmved by Lender again becomes available and is obtained. Borrower shall pay � _ � , �
<br /> . the premi�ms required to mainrain mortgage inc��ra�in efFect,or to pmvide a loss reserve,until the requirement for mortgage : ,'
<br /> insuiance ends in accordance with any written agrcemeat between Borrovuer and Lender or applicable law. `s� � �
<br /> 1 9. Llspect�on. L.ender or iu agent may make reasonable eatries upon and inspecrions of�he Property. Lender shall give � •, . , —
<br /> , � Borrc�wer nodce at the time of or prior to an inspecdon s�ecifying nasonable cause for the inspec:tion. ; • �
<br /> 10. Condemnation. The proceeds of any award or ciaun far damages, dimY��r con�:qutintial, in cumic�.�tion with any {`, - � �- °
<br /> condemnadon or od�er taking of any part af the Praperty, or for conveyance in lieu uf candewnadon, are hereby assigned and f � ' ;__
<br /> shall be paid to Lender. � . `'
<br /> . In the event of a wtal satur.g of the Property,the proceeds shall be applied to the sums secured by this Sec�uity Ins.rument, <- : --
<br /> wLether or not then due, with any exc,ess paid to Borrower. In the event of a pardal taking of the Propeety in w6ich the fair � _ .
<br /> , uiarkei vat-�e af Fhe Faaperty inmediately b�zfore ihe takin�u eyual w or gr�ter tL:w tLC amuunc of the�ums�cx:ured by this f -. • - , --. .
<br /> g�iy rnccr��.►�en►immediately before the talQng,uniess Borrower and Lender otherwise agree in writing, the svms secared bq f , �
<br /> this Security Insmiment shall be redaced by the amount of the proceeds multiglied by the follflwing fiacdon (a) the wtal f • ,. � �
<br /> amount of the sums sec�red immediately before the taldng,divided by (b; the fair market value of the Property immediately ; ' • �� �---�
<br /> .,.«::.?:.':--_
<br /> before the taking. Any balance shall be paid to Borrower. In the event of a partial talang of the Property in which the fair ; - �
<br /> market valne of the Property immediately before the taldng is less than the amount of the sums secured immediately before the t . � � .. _
<br /> taldng.unless Borrower and Lender othezwise agree in writing or uniess applicable law otheraiise provides, the proceeds shall ,� ; �°
<br /> be applied to the sums secured by this Secauity Ins�ent whether or nat the sums are then dae. ' "'' � :':..�._;:: —
<br /> If the Property is abandoned by Bormwer.or if,after nouce by Lender to Borrower that the condemnor offers to make an f , � : `
<br /> award or seule a claim for damages. Borrower fails to respond to I.ender within 30 days after the date the notice is given, {. ,.• . �.:�•�
<br /> Lender is authorized to wllect and apply the pmce�ds,at its option,either to restoration or repair of the Property or[o the snms � — . ��
<br /> • secared by this Security In.�tntmeni.whether or nnt then due. • .. -T�•.�---,'.
<br /> Unless Lender and Borrower otherwise agree in writing, any application of procceds to principal shall not extend or • '''' ' �
<br /> :�+'�. —
<br /> • s�• ::•,r :
<br /> postpone dne due date of the monthly payments referred to in paragcaphs 1 and 2 or change the amouni of such payments. ` � ,�:ie<#�;`
<br /> 11.Borrower Not Released;For6earance Sy I.eades Not a Waiver.Exteasion of the rime for payment or modification
<br /> � of amortization of the sums sec�red by this Secuiity Instrument panted by I.ender to any succe,s.sar in interest of Borrower shall '
<br /> - � ��;--_'_�-..' --
<br /> . not operate to release the liability of the onginal Borrower or Borrower's suocessors m mterest. Lender shail not be reqwred - ` ';;�.� t .
<br />• : `� commence proceedings against any successor in interest or refuse to extend time for paymem or otherwise modify amortizadon -•' � '� ;�. ` , �
<br /> of the sums secured by this Security Instrmnent by mason of any demand made by the original Borrower or Borrower's ... ����.,'
<br /> • + successors in interest. Anp forbeatance by Lender in exercising any right or remedy shall not be a waiver of or preclude the . � � .- �
<br /> exercise of any right or remedy. � .. - l i ;' .
<br /> . ` �4�;.
<br /> : 12. Succcssors aad Assigns Bound;Joint and Seveial Idability; Co-slgaers. The covenants and agreements of this � _ ��t�
<br /> • Secarity Ins�tnrment shall bind and benefit the saccessors and assigns of Lender and Borrower, subject to the provisioas of •' � � ;' j"'
<br /> ara h 17. Bonower's covenants and a ents shall be 'omc and several. An Borrower who casi tl�is Secari "�''��''
<br /> ' P 8�P S�m J � Y � tJ+ =.�, _.,.; _.. '�;` ;�
<br /> � Instrument but does not execute the Nox: (a) is co-signing this Security Instrament oniy to mortgage. grant and comrey that "� �r
<br /> � � Borrower's interest in the Property nnder the teims of this Security Instrument;(b)is not personally obligated to pay the sums �. "',`;��.��--
<br /> . .,,, �
<br /> secured by this Security Insaument;and(c)agrees that Lender and any other Borrower may agree to e;tend.modify,forbear or +•�%��'''
<br /> make any accommodations with regard to the terms of this Security Insm�ment or the Note without that Borrower's wnsent. • . . �f_�—
<br /> � , 13.Loan Charges.If the loan secured by this Secvrity Insuument is subject to a law which sets maximum loan charges, " j:—�'
<br /> and that law is 5nally inteipreted so tbat t}ie interest or other loan charges collected or to be collected in connection a+ith the ' � ____ ___
<br /> ;' loan exceed the permiued limits.then: (a)anq sach loan cLarge shall be reduced by the amount necessary to reduce the charge - . '„�
<br /> . . } to the permitted limit;and(b)any snms already collecred from Borrower w}uch exceeded permitted limits will be refuncled to . . _�'.� �' ' —
<br /> • Boaower. L e n der may c haose to m a l� t t ris re f u n d by r e d acing t he princip a l ow e d u n d e r t h e N o t e o r b y m a l d n g a d i r e c t `'''
<br /> �i �.;,��w�:�-. —
<br /> paymeni to Boaower. If a refund reduces principal. the reducdon will be ueated as a partial prepayment without any �;` •� : '•;'' '•
<br /> ,'�3 PrePayment charge under the Note. � - �: .
<br /> . 14.Nottces.Any notice to Borrower provided for in this SecuTity Instrument shall be pven by delivering it or by mailing s'•'�;i,�
<br /> it by first class mail unless applicable law requires use of another method The norice shall be directed to the Property Address . ��:� .
<br /> or any other address $oaower designates by norice to Lender. Any nodce to Lender shall be given by first class mail w � '"`
<br /> Lender's address stated herein or any other address Lender designates by nouce to Boaower. Any notice provided for in this . � � �
<br /> Secnrity Instrument sball be deemed to have been given to Borrower or Lender when given as provided in tl�is paragraph. � � ' ��'�
<br /> l5.Governfng I,aw; 5everabilIty. This Secarity Insuument shall be govemed by federal law and the law of tfie . " . .
<br /> jurisdiction in wbich the Property is lacated. In tlie event that any provision or clause of this Security lnsaument or the Note •
<br /> wnflicts with applicable law.such conflict shall not affect other provisions of this Security Insuument or the Note which can be . .. _:
<br /> . given effect withwt the conflictin�provision.To tlus ead the provisions of t6is Security Instrument and the Note are declared . • --
<br /> to be severable.
<br /> 16.Borrower's Copy.Bonower shall be given one conformed copy of the Note and of this Security Instiument. 4 • ' ----
<br /> Form 3028 �9/90�� � � � �'�
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