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<br /> . ' � -m nt.n� no lon er he requir�xi.at the option uf[.ender, if mortgage insuranre cavera�.e tin tSx�am�t an�fo�r tTie p�en� � � ' .
<br /> P�S e > �
<br /> -- . '' ci�t L�a+i�i rt:yuirc��pmrickz!b��an inwrer appm�•ed by l..enSer agam bc�aomes a�•ail:selz and�.�«�'��. Borrc�wer�hstl p:�y
<br /> ' '�'t tfrc premiutns required to maintain morigage insucance in effc�K.or to pra�•ide a tow,resen•e.un[i�the requirement for mor►�:sgt , ... < ' �
<br /> in�urance end�in a:coniance wtith an)written agreement betaeen Barnnwer and lxnder�x appl�rable ia.s. .
<br /> 9,ins�eCtlon. I.ender ur its agent n�y rtwke r�an�sble entrie�up�m and inspection.of the Pwperty. Ixnder shall gice • �
<br /> - Borrou'er notice ut the time of or prior to:u►itupection apecif}•i►►g ra..�nable raa,e for ihe in�pectiun. r'
<br /> . � - - - t0. Condemnation. The proceed,of any award or rlaim for damages. d'uc�K vr���nsc�uemial. io rannectiun aith any : . .:�;._, -_ -
<br /> .."L .; condemnation or othe�takine of any part of the Property,or far rnnveyan�-e in lieu of��ndemnation. an hereby a*.igned and , ,
<br />_ � :•:;, :.. • shall he paid to I.ender.
<br /> <. ,. .. :�
<br /> � , ' In the event of a total t:tking of the Pmpetty.the pmceeds shalt be applied to dte sums secured by this Security Ituuument. .
<br />- ' • • whcther ar not then due, with any excecs paid tu Bociuwer. [n the event uf a pacti�l takin�of the Presperty in which the fair ~ __;�: ;.•
<br /> '- market valae of the Property immediately before the taking is ec�ual to or greater than the amount af the sum>>ecured by this S . . '.i y.,`'
<br /> '�f"�''� ' Security Instrument immediately before the taking, untess Borrower and Lender othenvise agrec in writing,the sums secwed by � ;;�,., :
<br /> ,,:
<br /> d,':`r,, �,� this Security Iactrument shall be reduced by the sunount of the proceeds m��tiplie�i by the foUawing fraction: (a) the total ,
<br /> •� • • amount of the sum.s secured immediately before the taking,dividod by(b1 the fair market value of the Property� immediately ,�;: ?:
<br /> � '" before the taking• Any balance shall be paid to Borcower. In the event of a pa�tial talcing of the Propert�• in which the tair <.._,�,.•.�
<br /> • :,��..;
<br /> � , market value of the Property immediately befom the taking is less than the amouot of the sums secured immediately before the - .:.,h,,-.f. ..
<br /> � ' talsina,unle.0 Borrawer arul[.ender othenvise agree in���rit'sng or unless applicable!aw athenvise provides.[he procceds shall . . ,
<br /> . - be applied to the sums secumi by this Security Iactrument whether or not the sums are then due. • �5. � x ��...��"�
<br /> � . If the Property is abandoned by Bnnower,or if,atier notice by Lender to Borrower that the condemnor offers to make•an �< ,� . �:ti�,:
<br />- � � award or settle a claim for damages. Borrower fails to cespand to Lender within 30 days after the date tiie notice is given. <<.� � � ''
<br /> Lender is authorized to collect and apply the proceeds.at its optian,either to restorntion ar repair of the Property or to the sums � <�<�,��.,� ,�
<br /> ` secured by thi,Securiry Ia�nument,whether or not then due. ' �'r . " Y}�''�y �:
<br /> �• � U n l e s s L e n d e r a n d B o r ro w e r o t h envise a gree in writin g. an y application of procc�ds co principa! shall not extend or {� . �� ';
<br /> � ., '. • � pastpnne the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. 5� �- y�✓'Y,
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<br /> ° 11.Borro�r•er:Yot Released:Forbearance By Lender Nut a Waiver.Extension of the ume far payment or modific�tion .
<br /> � of amortizatian of the sums secured by this Security Insttument granted by Lender to any succeasor in interest af Bormwer shall . ����;�..'�:_
<br />'L , -
<br /> not operate to release the liability of the original Borrower or Barrawer's successon in intet�.st. Lender sha0 not be requir�� _ =J.,,;
<br /> �ommence proceedings against any successor in interest or refuse to extend time fur paycnent or otherwise modify amortizaaan �:,
<br />'"�;� ' uf the sums secured by this Security Instrument b reason of an demand made by the uriginai Borro�:�- or Borrower s ." ., '. • ;�
<br /> ���.' •.:`;,',;�,t � s u c c e ssors in interest. An y forbearanee by L.ender in exercising any right or rentedy sha[I not be a waiver oi ar preclude the �';: �;".:, ,:.,t..
<br /> •,�,,,.,, , x• .
<br /> ` . :y,-'a:�s•� eaercise of any right or remedy. ,• r.';�. '� : :;,;.,.
<br /> •` "�''T%�7.;�.. 12.Successors aad Assigng Boancl;Joint and Severa! l.iability: Co-signe�. The covenants and agreement�of this ' r-
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<br /> �:s�.';a -�. ,.� 5ecurity Imtrument shall bind and benefit the�ucces.�ors and assigns of Lender ared Borrower, subject to the provisionc of ...,-. .�.,-t�
<br /> , paragraph 17. Borrower's covenants and agrcements shalt be joint and several. Any Borrawer who co-signs this Security ;� •:t
<br /> ��y f:.... . .
<br /> � Instrument but does not execute the Nute: (a) is co-signing this Security Inctrument only to mortgage. grant and canvey that ,, ;.
<br /> Bortowei s intcrest in the Praperty under the terms of this Secudty Instrument; (b)is not personally obligated to pay lhs sums . 3� �r:Y
<br /> ��a, .: ' : !:' secured by this Security Instrument:and(c)ugrecs tbut Lender and any other Borrawer may agree to extend.madify.forbear or A,=: i�- :;
<br />_._�>t? . c�ake any acrnmmodations with regard to the tecros of this Securiry irtstrument or the Note without that BorroH+er's consent. � �
<br /> 'i�• . • 13.Loan Cha�ges.If the loan secured by this Socurity instrument is subject to a law which sets niax"s-^�m loan charges. . �--
<br /> � �� '� " and that law is finally interpreted sa that the interest or ather loan charg..-s coltectod or to be rnllecied in o�nnection with the ''� .
<br /> � � . ��... t•j.�`�`E�'j taan exeeed�'rc�perm�tted limits,then:(a)any such loan charge shall be reducecl by the:unount nece.�.sary to reduce the charge �•
<br /> '. ;:u,;'r!`?�,��_ . , -
<br /> w� � ::}•.;.;'�� • to the pertnit�ec!limit:and Ib)any sums already callected from Borrower which exceeded perm�tted limits will be refunded to ,, �'��:�
<br /> �c,�/,. � . . . .�� ''-��..
<br />._�,.. : ��, Borrower. Lxnder may chaose tv make thic refund by reducing the principal owed under the Note or by making a direct ,,,.._. ,
<br />�=;c�'� - payment to Borrower. If a refund reduces principal. the reduction will be treated as a partial prepayment without any . .
<br /> :..,� � �. . .
<br /> � ' prepayment�harge under the Note. � •
<br /> . .��' '.� 14.Notices.Any notice to Borrowcr provided for in this Sccuriry Inslrument shall be given by delivering it or by mailing
<br /> � • it by first class mail unless applicable law requires u�e of another meihod.The notice shall be ditecte�to the Property A_d�fress _
<br /> ` �� or any ather addre�.a Borrower designates by notice to Lender. Any notice to l.ender �hall be given by fint class :*_'�!to .
<br /> � ` Lender's address stated herein nr any other addrecs Lender dcsignatey by notice to Borrower. Any natice�r�-.ided for in this , .
<br /> _ { Security(nstrument shall be decmcd ta have been�iven to Banawer or Lender when givcn as pmvided in this r,�z:agraph. .
<br /> .,�t �' 15.Governin� Latv; Severabiilty. This Security Instrument shall bc governed by fcderal taw ac:d the law of the , ,; �;
<br /> � :' • � :�`��� judsdiction in which the Property i.r• locuted. In the event that any provision or clauce of this Security Imtrument or the Note .- •;,U;,N, •_
<br />-�� . :€ conflicts with applicabla law.such wnflict shall not affect other provi�ions of this Securiry In�trument or the Note which can be :���',��
<br /> .•:.�•,�
<br /> - , � �, . ��3 given effect without thc confllcting provisian.To this enJ the provi�ions�f this Security Intitrument and the tiote are declared �.�.�•. . .
<br /> _`,,�� ••� '� tn he severnble. �.,
<br />- " .�t., ,; � ,
<br /> �7,t: . 16.Horrawer s Copy.Barro�ver st�tl be given one confortned copy of the Note and of this Security Instrument.
<br /> ,� .,��.;�:. .
<br /> Form 302'73. 8�80 ��''�"
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