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<br /> � substantiaQy cquidalent mortgagc insurancc covcragc is not availablc, AOCfOwer shall p.�y tu Lrixicr cach munth a tium cquul to
<br /> one-twelfth of the yearly mungnge insurance premium bein$ paid by Horrawer when thr insurimcr cu�eraFe lapticd or eeused to �
<br /> be in effect.Lender wiU accept,use und retnin these puyments ns a lass rescrvc in licu ��f mortgagc i�iyuruncc. l.o,s rc,crvc
<br /> payments t�ay no longer be requircd, ut the option of I.cnder, if murtga�c intiuranre coveragc lin theanux�nt and fi�r the peri�xl
<br /> tha�I.cnder rcquires)providcd by an insurcr approved by I.cndcr;iguin hcrumr,avuil�hlc und i. ��IuaincJ. Bnrrc�wcr+hcili puy
<br /> thc premiums required to muintuin mongage insu�ance in effect,or ti�provide a lu,s rcrrrvc, until thr ruyuirtimcnt fur murtgu}�c
<br /> insurance ends in accordunce with any wnnen agreement between Borrc�wer and l.ender ur applicahlc L�w.
<br /> 9. Inspectton. Lender or its ugcnt mny inake reasonublc cntries upim und in+pectinn.�if tlu Pr�►peny. Lrndrr +hull give y
<br /> Borrower nutice at the time of or prior ro an inspection specifying reusonahlc cuusc fi�r thc intiprcti�.n. '
<br /> 10. Cundemnatian. Thc procceds of uny awurd or claim for dumugcs. Jircct ur cun�cqucntial, in runnrrtiun with auy
<br /> condemnution or other taking of uny part of the Property,or for convcyunre in li�u of cancicmnati�ai, .ue hrreby u.+igncd und �
<br /> ,IiuU Ue puiJ tu I.sndcr. Q —
<br /> In the event of u rotat taking of the Property,the proceeds shall be upplicJ ta the�ums.ecured by thi>Sccurity In+trumcnt, �
<br /> whether or not then due. with any excess paid to Borrower. In the event of'a partial taking uf the Prciperty in �vhich the fiiir �
<br /> markct vulue of the Property immediu[ely beforc the taking i,cyual tc�ur greatcr than the unwunt n(t hc�unn sccurcd hy this
<br /> Sccurity Instrument immcdiutely before thc taking,unless Borrower and L.ender otherwisc a�rcr in writi ng,thc+um, hccurcd by
<br /> thic Security Instrument shall be reciuced by the amount of the proceedti multipliui hy thc ti,lluwing fruction: tal Qic tutul i�.1
<br /> anmunt of che sums sccureci imnu�iiatcly before the taking, dividcd hy (b) the fair market vuluc uf thr Pruperty immediatcly
<br /> before the tuking. Any balance shall be paid to Borrower. !n the e�ent c�f<� panixl tuking e�f the Prc�perty in which thr tuir
<br /> murkct vulue of the Property immediately before the taking is lcsti than the amount of the sum,scrurcd immcdiatcly hcfurc thc
<br /> cakin�,unless Borrower and Lender otherwice agree in wru�ng or unless applicablc luw othcrwisc prnviJcs, thc pracced.r shc+ll
<br /> be applied to the sums secured by this Security Instrument whether or not the sums ure then due.
<br /> lf the Property is abandoned by Bnrrowcr,or if,uftcr naticc by L.ender t��Borrc�u•er thut the �ondemncir offcrs to muke un
<br /> award or setde a claim for dumages. Borrower fails to respond to L.ender within 30 ctays ufter the datc the nutice is given,
<br /> L.ender is authorized to collect and apply tha procceds,at its option,either to rest�uation or repair of�he Property or to the sums
<br /> secured by this Security Instroment,wlKther or not then due.
<br /> Unless Lcnder and Borruwer utherwise agree in writing. any applicati�m of proceecls to principal shal! nnt cxtend ��r
<br /> postpone the due date of the monthly payments referred to in parug�uphs 1 und 2 or change the umount c�f such payments.
<br /> 11. Borrower Not Released;F'or6earance By I.ender Not a Waiver. Exten�ion uf the timc fnr payincnt or madification
<br /> of amortization of the sums secured by this Security Instrument grantecl by Lender to any successor in interest of Borrnwer shull
<br /> not operate to rcleuse the liability of the original Borrower or Borrower's successars in interest.Lc:nder shull not bc required to
<br /> commence proceedings against any successor in interest or refuse to extend time for payment or otherwise rnodify amorti�.utian
<br /> of the sums secured by this Security Instrunient by re�son of any demand made by the originul Darrower or Borrower'.
<br /> successors in interest. Any forbearance by L.ender in exercising uny right or remedy zhull not be a waiver of or preclude the
<br /> excrcise of any right or remedy.
<br /> 12. Successors and Assigns Bound; Jnlnt and Severul Liability; Co-si�ners. Thc covenunts and ugreemcnGi of this
<br /> Security Instrument shall bind and benefit the successors and assi�ns of Lender und Barrower, subject to the provixinns of
<br /> parngrnph 17. Borrower's covenants and agreements shall be jaint and several. Any Borrower �vho co-signs this Securtty
<br /> Instrument but doe�not execute the Note: (a) is co-signing thi� Securiry Instrument only to mortgage,grunt and convey thut
<br /> tiorcower�s interest in che�rapeny u�xlcr ii,c trr�u,vf t1�i��e:.urity In;.ram�ni; (b) i;not p:.rsonwl:y al�;i;»ted ia pa�the�ams
<br /> secured by this Security Instrument;a�xl(c)agrees that Lender und nny other Borrower muy agtce to ex tend, modify, forbenr or
<br /> make uny accommodations with regard to the terms of this Security Instrument ar the Nate without that Borrawer's ronsent.
<br /> 13. Loan Charges.lf the loen secured by this Security Instrument is subject to a luw which uis maximum loan charges,
<br /> and thut luw is finally interpreted so that the interest or other loan charges c�llected ar to be collecied in connectian with the
<br /> loan exceed the permitted limits, then:(a)any such loan charge shall he reduced by the amount necessary to reduce the charge
<br /> to the permitted limit: and (b)any sums already collected from Borrower which exceeded permitted limits will be refunded to
<br /> Borrower. Lender may chaose to make this refund by reducing thc principal owed under the Note or by muking u direct
<br /> payment to Bonower. If a rcfund reduces principal, the reduction will be treated as a partial prepayment without nny
<br /> �repayment charge under the Note.
<br /> 14. Nottces.Any notice to Borrower pruvided for in this Sccurity[nstrument shuU be givcn by delivering tt or by muiling
<br /> it by first cluss mail unless applicable law requires use of another rnethod. The notice shall be directed to the Property Address
<br /> or any other uddress Bormwer designates by notice to Lender. Any noUcc to Lender shall be given by fi�•st ctass mail to
<br /> L.ender's address stated herein or any other address Lender designates by notice to Borrower. Any notice providcd for in this
<br /> Security Instrument shall be deemed to have been given to Borrowcr or Lender when given ns provided in this purugruph.
<br /> I5.Governtns Law: Severabillty. This Security instrument shall be governed by federal law �nd the luw of thc
<br /> , jurisdiction in which the Property is located. In the event thnt any provisian or clause of this Sccurity lnstrumcnt or thc Note
<br /> conflicts with applicable law,such conflict sh�ll not affect other prov�s�ons of this Security Instruinent or the Note which cun be
<br /> given effect witUout the conflicting provision. Ta this end the provisions of this Security Instrumen and the Note ure declared
<br /> to be severable.
<br /> 16. Borrower's Copy. Borrower shall be given one conformccl ropy uf dle Note und of thix Security Instrument.
<br /> 17.Transfer of the Property or a Benefictal Interest in Borrower.If all or any par�of thc Property or uny intcrc.r•t in it
<br /> is sold or transferred(or if a beneficial interest in Borrower is sold or transferred und Borrower is na a natural person)without
<br /> I.ender's prior written consent, Lender may, ut its option, require immediate payment in full o(all sums secured by this
<br /> Sccurity Instrument.However,this option shall not be cxercised by L,ender if exercise is prohibitec�by foderal luw as of the date
<br /> of this Security Instrument.
<br /> If I..ender exercises this option, I.ender shall give Borrower notice of acceleration. The notice Sha!I provide u period of not
<br />. less than 30 days from thc date thc noticc is delivered or mailcd within which Borrower must pay :�II sumti sccurul by this
<br /> Security Instrument.If Borrower fail�to pay these sums prior ta the expiratinn of this period, Lcnder rnay invoke uny rcmedics
<br /> permitted by this Security Instrument without further nc�tice or demand on Borrower.
<br /> 18. Borrower's Rlght to Reinstate. If Borrower meets certain conditions. Borrowcr shall have the right to havc
<br /> cnfomement of this Security Instrumcnt discontinued at �u►y time prior to thc earlicr of: (u)5 days (or such other period as
<br /> applirable law may specify for minstatement) before talc of the Property pursuant to uny power of sale conwined in this
<br /> Sccurity Instrument;or(b)entry af a judgment cnforcing this Ser.urity Instniment.Those cnnditions are that Barrower: (a)pays
<br /> : Lender all sums wltich then wauld be due under this Serurity ]nstrument and the Note us if no acceleration hud occurred: (b)
<br /> cures any defauR of any other rovenants or agrcements; (c) pays all expenses incurreJ in cufurcing this Securiry instrument. .,
<br /> including, but not limited to,rcasonable attorncys' fces; und(d) takes such artivn us Lcndrr mny masonubly reyuirc tc� as,ure
<br /> that the lien of diis Security Instrument, Lender't rights in the Propcny und Borrowcr's obli�ation lo pay thc sunts secural by ,.
<br /> this Serurity Instrument shall continue unehanged. Upon reinst3tement by Borrower, this Secu rity In,trument und the '
<br /> obli�ations secured hereby shaU remain fully effective as if no ucceleration had occurred. Hvwevcr.this right to reinstate�hall •
<br /> not apply in thc casc of acccicration undcr paragraph 17.
<br /> 19. Sule of Note; Change of I.oan Servlcer. The Notc or a purtial interest in thc Notc lwgether with this 5ccurity
<br /> InstrumenU muy be sold one ar more times widiout pric�r notice to Borrowcr. A sale may result in u chunge in the entiry (known =
<br /> as the"Loan Serviccr")that collects monthly puyments duc undcr thc Notc and this Sceur�ry In�trunxnt.Thcn�ulsu muy be une _
<br /> or more changes of thc Loan Scrvicer unrelated to a sale of the Nute. if thcre is u changc of the I.oan Serviccr.Borrowcr will bc _
<br />_ given written noticc uf the changc in accordunce with paragrupli 14 ubove and upplicuble lu�v. The nai�c will stute thr nume unJ =.
<br /> address of the new Loan Servicer and the address to which payments shuuld be made. The notice�viU also contain any other �
<br />_ informxtion rcquircd by upplicable lu�v. _
<br /> Z0. Hau�rdous 5ubstanees. Burrower shall not rause ur permit the presencc, usc, disposal,stora�e, ur rcle:ase c�f uny _
<br /> Hazurdous Substances on or in the Property. Borrower shull not du, nor aUuw anyune cl.e to dc�,anything affecting the .
<br />- Property that is in violntion of any Environmentxl I.aw. Thc prcrcding twc� sentcnces shall not apply ta thc prescncc, usc, ur =
<br /> storage on the Prnperty of small quantities of Huzardous Substunces that ure generally recugnited w be apprc�priate to normal _
<br /> residentiid uses and to maintenunce of►he Property. _
<br /> Paflo 3 nl 4 Form 3028 9/90 �
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