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<br /> .,I payments may no langcr bc rcquircd,nt thc optian of Lcndcr,if mortgagc insurancc covcrnga(in thc umount and far ihc period ••
<br /> that Lcndcr rcquires)providul by an insurcr spproved by Lcndcr ugain txxamcs evullablc und is obteincd.Borrowcr shall pay �hc
<br /> � prcmiuma rcyuucd w muintain mortgagc insura��cc in cffcct, or to providc a Inss rc.s�,rvc, unul thc rcc�uircmcnt for mongagc --_
<br /> �" insurancc cnds in eccordancc with any wriucn agrcemcnt bctwcen Borrowcr and Lcndcr ar appllcaWc iaw. -
<br /> 9.Inspectbn. Lcndcr or its agant may maka rcasonablc cnuics upon arid i�spccUons of thc Property. l..cndcr shali givc � "_
<br /> ,�,,,,�r,�.. Borrower notice at thc timc of or prior w an inspecaon spccifyIng rcasonablc cuusc for�hc inspecdon. y _
<br /> �• 10.CondemnYtion. The procccd� of any award or cl�im for damagcs, d3rect or canscqucnpul, in connecuon with any ' :�
<br /> condemnadon or other taking of any part of the Property,or fur conveyance in lieu of condemnaaan,are hereby assigned ancL � --
<br /> sliall bc paid to Lender. � �� -
<br /> In thc cvent of a towl tnking of the Property,the proceeds shall bc applicd to thc sums sccurcd by this Security Instrument, 1'� :•• ��-
<br /> whcther or not then duc,with any excess paid to Boaower.In the evcnt of a partiel taking of the Property in which the fair market � .y�u�-
<br /> value of the Property immediately before ihe teking is equal to or grcater than ihe amount of the sums secured by ihis Securiry � ;�-_
<br /> Instrumcnt immediately before the takL�g, unless Borrower and Lcnder otherwise agrec in writing, thc sums secured by this� _ -
<br /> Security Instrument shall be rcduced by the amount of the procceds multipUed by the following froction: (a)the total amount of ,.. -
<br /> � the sums secured immediately before ihe taking,divided by (b) d�c fair market valuc of the Propeny immediately before the ---
<br /> taking,My balencc shaU be paid to Borrowcr.In ihe cvent of a pnrtiel taking of the Properry in which thc fair markct valuc of ihe -
<br /> Prop�rty �mmediatcly before the taking is less than thc amount of thc sums secured immcdiately beforc the taking, unless --
<br /> Borrower and l.ender otherwise agree in wriGng or unless applicable law otherwise provides.the proceeds shall be applied to the `��ti•.
<br /> sums secured by this Security Instrument whether or not the sums are thca duc. _ "
<br /> � If the Property is abandonetl by Aoaower,or if,after nodce by Lender to Borrower that the condemnar offers to meke an �t ,
<br /> � awacd or seule a claim for damages,Borrower fails to respond to Lender within 30 days after the date the notice is given,Lender !-
<br /> .� is authorized to r.ollect and apply the proceeds,at its option,either to restoration or repair of the Property or to the sums secured �.
<br /> by this Socuriry Insvument,whcther or not then due. —
<br /> �j Unless Lender end Borrower otherwise ugree in writing,any application of proceeds W princigal shall not extend or postpone
<br /> . ' thc due date of the monthly payments�efeaed to in paragraphs 1 and 2 or chengc thc amount of such payments. �
<br /> � 11.Borrower Not Released;Forbears�nce 8y I.ender Not a Waiver, fixtension of the time for payment or modification �
<br />- " � of amortization of the sums sectued by this Security 3nstrumenc granted by I.ender io any sur,ces�ur in inic:re:si vi Bunvwcr�fiutt �
<br /> ' not operate to release the linbility of the original Borrower or Borrower's successors in int�eres� Lender shall not be required to f;.-
<br /> •fi wmmence proceed3ngs against eny successor in interest or refuse to extend time for payment or otherwise modify amortization of �-�----
<br /> • the sums securcd by this Security Instrumcnt by reason of any demand made by the original Bonower or Bonower's successors ���==— _ _
<br /> ' � in interest.Any forbearnnce by Lender in exercising any right or rcmcdy shall not be a waiver of or preclude the exercise of any �-- -
<br /> � right or remedy. ' --
<br /> 12.Successors and Assigns Bound;Joint and Severol Li�bility; Co•signers. Thc covcnants and agrecmcnts of this
<br /> Sccurity Instrument shall bind and bcncfit the sucassors and assigns of Lendcr and Borrowcr, subject to thc provisions of z- --
<br /> paragraph 17. Bocrow..r's covenunts and agreements shall be joint and several. Any Sorrower who co•signs this Security
<br /> � Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage,grant and convey that —
<br /> Boaower's interc.5t in the Property under the terms of this Security Instrument;(b) is not personal�y obligated to pay the sums �
<br /> securr,d by this Security Instrument;and(c)agrees that Lender and any other Borrower may agree to extend,modify,forbear or ,•
<br /> �,,:--
<br />_ make any accommodations with regard to the u:rms of�his Security Instruinent or Ihe Note without that Borrower's consent �_'
<br /> !3.Loan Charqes. If the loan sec:ured by this 5ecurity Instrument is subject to a law which sets maximum loan charges. �,�
<br /> and thaL law is Ctnally interpreted so tltat thC Inletest ot other loan charges collecled or ro be collec_'trrl in ennnr�rinn with the loan �;�,__
<br /> exceed the permitied limits,U►en:(a)any such loan charge shell be reduced by ihe amount necessary to reduce the charge to the �'��
<br /> permitted limit;nnd(b)anY sums aJready collccted from Borrowcr which cxcecdcd permiued limits will be refunded ta Borcower.
<br /> �;;`.
<br />_ � Lender may choose w make this refund by reduc6ig the principal owed under the Note or by maldng a d'uect payment to �':_Y
<br /> Borrower.If a refund reduces principal,thc reduction will be treatcd as a panial prepayment without eny prepayment charge
<br /> " under t��e Note. ��
<br /> 14.Notices. Any nouce to Bonower provided for in this Securiry Instrument shall be givcn by deGvcring it or by mailing it � ��
<br /> by first class mail unless applicable law requires use of another method.The notice shall be directed to the Propeny Address or ;' : , r '�� �:
<br /> ���I�
<br /> " any other address Borrower designates by notice to Lender. Any nouce to Lender shall be given by first class mail to Lender's � ' ;=�;��_—.�
<br /> ,;±�,�;,f�.-•.---��. .
<br /> .. address stated herein or any other address I.ender designates by nodce to Borrower. Any nouce provided f�r in this Security � '. t,-' _
<br /> lnstrumcnt shall be decmed to have been given to Barrower or Lender when givcn as providcd in this paragraph. >� � "�,r�e1:..- :��
<br /> , 15.GoverningLaw;Severability. This Sccuriry Instrument shall be govemed by federal law and thc law of the "-f "�� �;`"-'
<br /> - j jurisdicdon in which the Property is located. In the event that any provision or clause of this Security Inswment or the Note 1'--•�`' .. ��
<br /> conflicts with a licable law,such conflict shall not affect other rovisions of this Securit Instrument or the Note which can be '� �i' '`�"„
<br /> PP p Y � '�r .':: '�
<br /> + given effect without the contlicUng provision.To this end the provisions of this Security Inswment and the Note are declued to ��"'� "•. '.
<br /> bc scvcrablc.
<br /> - i Form 3028 9I90
<br />-� � �•BR(NEj 192�2).ot Paps 4 0�8 �nmau: ..
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