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<br /> ` paymcnts may no longcr bc rcquircd, at thc opuon of Lcndcr,if mortgagc insurancc cavcragc�in e am period
<br /> •. � that Lcndcr rcqttires)providcd by an insuru epprovcd by Lcndcr agein bccamcs avallablc and is obtained.Barrowcr shaU pay thc _
<br /> prcmtums rcquircd to maintaln mongagc insurancc in cffcet, or to provide a loss rescrvc, until the rcquiremcnt for mortgagc
<br /> " '�r � insurance ends in accordance with any wdtten a�reement between Borrower and Lender or applics�ble law. _
<br /> �•j � 9.Iuspectbn. Lcndcr or its agcnt may makc rcasonablc entrics upon arid inspectlons ot the Property. Lcnder shall givc __.
<br /> '-;,^-„" } Borrower nodce at the dme of or prior to an inspecdon apecifying rea�onable cause for the inspection. `�_
<br /> 10.Condemnatbn. Tho proceeds of eny award nr claim far damages, direct or consequentlal, in connecdan with any •�'a"�
<br /> condemnadon or other teking of any part of the Property.or for conveyance in Geu of condemnation,are hereby assigned end iY�..
<br /> • shall bc paid to I.cnder. '`'':
<br /> In the event of a totel talcing of the Property,the procecds shall bc appAed to the sums secured by this Security Instrument, `
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<br />� ' whether or not then due,with any excess paid to Sorrower.In the eve�t of a partial taking of the Property in which the feir market �
<br /> �� value of the Property immedletely beforu the taking is equal to or greater ttien the emount of the sums sccured by this Securlty �"��
<br /> � Instnuncnt lmmediately beforc the taking, unless Boaower and Lender otherwisc agree in writing, the sums secured by this —
<br /> Security Instrument shall be reduced by the amount of the proceeds muldplied by the following fracdon: (a)the total amount of
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<br /> the sums secured immedietely before the taking,divided by (b)�he feir mazket valuc of the Propcny immediately beforc thc �R_
<br /> � teking.Any balance shtill be paid to Sorcower.In the event of a pardal taking of the Property in which the fuir market value of the =.
<br /> • Praperty immediately beforc thc talcing is lcss then Ihe amount of ihe sums securcd immediatcly before the taking, unless f::�-
<br /> ;� Borrower and L.cnder othcrwise agree in wriang or unlcss applicablc law othuwise providcs,the proceecls shall be applied to the =-
<br /> sums secured by this Security Instrument whelher or not the sums are then due.
<br />-� +�. If the Property is a6andoned by Borrower, or if, afier notice by Lendet to Borrower that the condemnor offers to make an �=
<br /> award or settle a claim for damages,Borrower fails to respond to Lcnder within 30 days efter the date ttie nadcc is given,Lender r'
<br /> � is authorizetl to collect end apply the procceds,at its option,cither to restora6on or repair of the Pronerty or to the sums secured �:
<br /> by tl►is Securiry Insaumcnt,whcther or not thcn duc. _
<br /> � � Unless Lender and Borrowcr othenvise agree in wriung,eny application of procceds to principal shall not extcnd or postpone -
<br /> the due date of the monthly payments refGrred to in paragraphs 1 and 2 or change the amount of such payments.
<br /> � �� I1.Horrower Not Released;Forbear�nce By Lender Not a Watver. Bxtcnsion ot the time for payment or modification
<br /> of amonization of the sums secured by this Securiry Instrument granted by I�ender to any successor in interest of Borrower shall
<br /> not operate to release the liability of the original Borrower or Borrower's successors in intemsG L.ender shall not be required to
<br /> ' � commence.proceedings ageinst nny successor in interest or refuse to extend timr,for payment or otherwise modil'y amortization of
<br /> the sums secured by this Security Instrument by reason of eny demand made by thc origi,ial Borrower or Bonower's successors
<br /> in interesG Any forbearance by L.ender in eaercising any right or remedy shall not be a waiver of or preclude the exercise of any
<br /> right or rc[nedy.
<br />- 12.Successors and Assigas Bound;Joint end Several Liabil(ty;Co-signere.'P.�e covenants end agreements of this
<br /> • � "` � Security Instrument shall bind and benefit the successors a�id assigns of Lender and Borrower, subject w the provisions of
<br />- puragraph 17. B�rrower's covenants and agreements shall be joint and several. Any Bonower who co-signs d�is Security
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<br /> Instrument but dces nflt exocuw the Note: (a) is co-signing this Security Instrument only to mortgage,grant and convey that
<br />�. � Borrower's interest in the Property under the terms of this Securiry Instrument; (b) is not personally obligated to pay Ihe sums
<br />-. • . secured by this Security Insavment;and(c)agrees that Lendcr end any other Borrower may agroe to extcnd,modify.forbear or
<br /> • • ; ; mnke any acc��mmodations with regard w�hc terms of this Security inshvmcnt or the Note withot�t that Borrower's conscn�
<br />_ ti 13.Loan ChArges. If the loan secured by this Saurity Inswment�s subject to a law which sets maximum loan ch�rges,
<br /> ' and that law is finally interpreted so that the interest or other loan charges collected or to bc collrxted in connxtion with ihe loru► -_
<br /> � � j exceed the permiued limits, then: (a)any such loan charge shall be reduced by the a�nount necessary to reduce the chazge to the
<br /> permiued limit;and(b)any sums already collected from Borrower which excceded permittetl limits will be refunded to Borrower. `=
<br />- Lender muy choose to makc this refund by reducing the principal owed under the Nou; or by meking a d'uect pay�nent to - -
<br /> ,• Borrower. If a refund reduces principal,the reducuon will be treated as a partiel prepayment without any prepayment chargc ° —
<br />� undcr thc Note. �=
<br /> - 14.Notices. An nodce to Borrower rovided for in this Securit Instrument shall be rven b deGverin it or b mailin it �
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<br /> _ • by fast class mail unless applicable law requires use of another method.The notice shall be directed to the Property Address or `'�
<br /> any other address Borrowcr designate,�by noticc to L.cnder.Any notice to Lender shall be given by first class mail to Lcnder's --
<br /> address stated hercin or any othcr address Lcndcr designates hy nouc�;to Bonower. Any notice provided for in this Securiry -
<br /> � . �' Instrument shall bc dccmcd to havc becn givcn to Horrowcr or I.ender when givcn as provided in this paragraph.
<br /> 15.Governing Law;Severabilfty. T'his Security Instrumcnt shall be govcmui by federal law and the law of the
<br /> jurisdicaon in which the Property is located.In the event that any provision or clause of this Security Instrucnent or the Note
<br /> ' conflicts with applicnble law,such contlict shall not affcct other provisions of this Security Instrument or the Note which can be
<br /> -- � given effect without thc conflicting provision.To ihis end the provisions of this Security Instrument and the Note are declared to
<br /> I be scvcrablc.
<br /> - � Form 3028 91�0
<br /> j �•8R(NE)(82tzl.ot Pefle 4 ul6
<br /> Initlele:
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