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<br /> paymcnls may no longcr bc rcquircd,at Ihc optlon of Lcndcr,if marigagc lnsurnncc covcragc(in thc umaunt and for thc period � _
<br /> that Lcndcr rcquires)provided by an insurcr approvcd by Lcndcr again bccomcs avnilable and is obtaincd. Barrowcr shall pay thc I
<br /> prcmiums rcquircd w maintaai murtgagc insurancc in cffcct, ar to providc u loss rascrvc,unul the rcquircmcnt for mongagc� ����`
<br /> '� insurancc cnds in accorcian�:c witl�any wriucn agrccmcnt bccwcen Boaowcr and Lendcr or applier�hlc law. � �
<br /> .. -� 9.Inspection. Lender or its agent may makc rcasonable entrics upon and inspecdons of the Property. L.cnder shall give /
<br /> Borrower nodce at the dme of or pdor to an inspection specifying reasonable cause for the inspecdon. � -_
<br /> 10.Condemnatbn. The proceeds of any award or claim for damagcs, direct ar consequential, in connection with an � -
<br /> condemnauan or ather taking of any pan of the Propeny,or for conveyance in Ueu af condemnaaon,arc hereby assigned an� -
<br /> shall be paid to Lender. �
<br /> In thc cvent of a eotal taking of ihe Property,thc procceds shall be applied to d�e sums securcd by this Security Instrume� __
<br /> whether or not then dae,with any cxcess paid to Borrower.In the event of a partial taking of the Property in which the fair mark� _
<br /> value of the Property immediately before the tnking is equal to or grcater ihan the amount of the sums secured by this Sceurity
<br /> Instrument immeciiately before the taking, unless Bomower and Lender otherwise agree in writing,ihe sums secured by this
<br /> ' Security Insuument shall be retluced by the amount of the proceeds multiplied by the following fraction: (a)the total timount of ,._
<br /> ihe sums securcd immediately before the taking, divided by (b) thc fair market value of the Property immediatcly bcfore thc
<br /> taking.Any balance shaU be paid to Borrower.In the event af a partial takin8 af the Property in which the fair market valuc of the ,
<br /> ' Property immerliatcly bcfore the taking is less than the amount of che sums secured immediately before thc tal:ing, unless
<br /> ' � Borrower and Lender otherwise agree in wripng or unless applicable law otherwise provides,the proceeds shall be applied to the
<br /> � sums secureci by this Security Instrument whether or not the sums are�hen due.
<br /> If the Property is abandoned by Bonower,or if,after notice by Lender to Boaower that the condemnor offers to make an
<br /> award or sculc a claim for damages,Borrower fails to respond to I.ender within 30 days aftcr the date the notice is given,Lendcr
<br /> is authorized to collect and apply the proceecls,at its option,either to restoration or repair of the Property or to the sums secured
<br /> • �' by this Security Instrument,whether or not then duc.
<br /> '� Unless Lender and Borrower otherwise agree in writing,any appGcadon of proceeds tn principal shaU not extend or postpone
<br /> ihe due datc of ihe monthly payments referred w in paragrephs 1 and 2 or change the amount of such payments.
<br /> 11.Borrawer Not Released;Forbearance By Lender N�t a Waiver. Extension of the time for payment or modificapon
<br /> of amorpzatian of the sums secured by this Securiry Inswment granted by Lender to any successor in interest of Borrower shall
<br /> not operate to rcicase the liability of the originai Hoaower or BorcowG�'s sui;�ssors iri irti�resi.L.�n�cr�hal! aot be rsq:sir�d to _
<br /> � commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortizaqon of
<br /> the sums secured by this Security Insorument by reason of any demand made by ihe original Borrower or Borrower's successors
<br /> in interes�Any forbearance by I.ender in exercising uny right or remedy shall not be a waiver of or preclude the exercise of any �
<br /> right or remcdy.
<br /> 12.Successors and Assigns Bound;Joint and Several Liability; Casignera. Thc covenants snd agrecments of this
<br /> Security Inswment shall bind and benefit ihe successors and assigns of Lcnder and Borrower, subject to the provisions of
<br /> paragraph 17. Bortower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Secudry �..,��-
<br /> Instrument but does not exccutc the Note: (a) is co-signing this Security Instrumcnt only to mortgege,grent and convcy that E;`
<br /> Borrower's intcrest in thc Property undcr the terms of this Sccurity Instrumen� (b} is not personally obligated ta pay the sums __
<br /> secured by this Scc�uity Irtstrumcnt;and(c)agrces that Lcnder and eny othcr Borrowcr mey agrce to cxtcnd.modify,forbcar or
<br /> � make any eccommodations with rcgard w the terms of this Sccurity Instrument or the Note without that Borrower's conscnG
<br /> 13.Loan ChArges. If the loan secured by this Security Instcument is subject to a law which sets maxinmm loan charges,
<br /> and that law is finelly interpreted r,�that the interest or olher loan chacges collected or ta be collected in connecuon with the laan __—
<br /> exceed the permittod limits,then:(a)any such loan charge shall be reduced by the amount necessary w reduce�he charge to the _-----
<br /> permiued limit;and(b)any sums already collected frc�m Borrower which exceederl permitted Iimits will be refunded to Bonower. _
<br /> Lender may choose to make this refund by reducing the principal owed under the Note or by making a d'uect payment to
<br /> � Eoaower. If u refund reduces principal, the reducaon will be treated as a partial prcpayment without �ny prepayment charge -_ --
<br /> , � under the Nute. ::r. --
<br /> 14.Notices. Any notice to Borrower provided for in this Sccurity Insuument shall bc given by delivering it or by mailing it
<br /> � by C�rst.class mail unless applicable law requires use of another method.The notice shall bc d'vecteci w thc Property Address or �;;y�_
<br /> any other address Bonower designates by nodce to Lender.Any nodce to Lender shall be given by Cust class mail to I..ender's ��'�:
<br /> address stated herein or any other uddress Lender d�signates by nodce to Borrower. Any norice provided for in this Security� . L�.4--•`
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<br /> Instrument shall be dcemed to havc becn given to Botrower or Lcnder when given as providcd in this paragraph. ` `;"i�;:;�.�=,.
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<br /> 15.Gaverning Law;5everability. This Securiry Instrument shall bc govcrned by federil law and the law of the . ,i,_
<br /> jurisdicuon in which the Property is located. In the event that pny provision or clause of this Security Instrument or thc Note' ,• ;
<br /> conflicts with applicable law,such conflict shsill not uffect other provisions of this Security Instrument or the Note which can be ° `•'�
<br /> given effect without the conflicting provision.To this end the provisions of this Securiry Instniment and the Note are declared to
<br /> bc sevcrablc.
<br /> Form 3028 9i90
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