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<br />_ _ 98- 1�2�36
<br /> payn�er�s may no longer be required,at the option of Lender, if monguge insurancc covcragc(in the umount and for the perial
<br /> that l.ender requirzs)provided by an insurer Anproved by l.ender again becomes uvuilabic and is obtained. Iiorrower shall pay
<br /> the premfums rcquirrd to maintain mortgage insurance in effect,ar to providr,a loss rescrvc, until the requircmcnt for nwrtgaga
<br /> insurance encls in accoedance with any wriUen agreement between Rorrower and Lender or applicable law, .
<br /> 9,lnxpecdon. Lender or its agent may makc reasonuble entries u�n and inspections of the Pruperty. Lencfer shall give
<br /> k3orrawer notice at the dme oP or prior to un inspection specifying reasonuble c.►usc for the inspectioii.
<br /> 10. CundemnAtian. The procecds of any award �r claim for dumuges, direct or conscquentiul, in cannccticn with Any
<br /> canJemnutinn or other taking of arey part of�he Property, nr for c�nveyn�ce in lieu af condemnntion, nrc hereby ussig�.ied and
<br /> sl�hll bc�nid to l.endcr.
<br /> In the event of a totAl taking of the Property, the procecds shull he upplied to the yums sccurcd by this Sccurity Instrument,
<br /> whether or not tlien due, witli any excess padd tu Aorrower. ln the event of u puninl tnking of the Propeny in which Ihe fair
<br /> murket value of the Propeny immcdintely before thc taking is equal to or grcnter than thc amount of thc sums securcd by this
<br /> Security Instrunxnt immecliately before the taking, unless Borrower and I.,ender otherwise ugrce in writing,the sums secured by
<br /> this Security Instrument shall be recluced by the amount of the proceeds multiplied by the following fruction: (u) the rotal
<br /> anaunt of the sums secured immediately befure thc tuking, di��ided by (b) Ihe fair market value of the Property immediatcly
<br /> before the taking. Any balance shall be paid to Borrower. In the event af a pnrtial taking of the Properiy in which the fair
<br /> market vnlue of the Property immcdiatcly before thc taking is le�s than thc amount of the sums secured immediately beforc the
<br /> taking,unless Aorrower and I.ender�therwise agree in writing or w�less applicable law otherwise provides, the proceeds shaU '
<br /> be npplied to tha sums secured by this Security I�istrument whether or not the sums are then due. i
<br /> If the Property is�bandoned by Borrower, or If,after notice by L.ender ta Borrower that the condemnor offers to make an
<br /> award or settle a claim for dumages, Borrower fails to respond to i.ender within 30 dnys after the dute the notice is given,
<br /> Lcndcr is authorizec!to collect end a��ply the proceeds,at its option,either to restoration or repair of the Property or to the sums
<br /> secured by this Security Instrument,wiiether or not then due.
<br /> Unless Lender and Borrower otherwise agree in writing, any npplication of proceeds to principal shall not extend or
<br /> postpone the due datc of thz monthly puyrnents referred to in paragraphs 1 and 2 or change the nmount of such payments.
<br /> 11. Rorrower Not Reieased;Forbearance By Lender Not a WAlver.Extension of the time for�+ayment or modification
<br /> of amortizntion of the sums se�ured by this Security Instrument grantecl by Lender to any sur,cessor in interest of Aorcower shall
<br /> not operutc to releusc the Ilsbility of the original Burrower ar Borrower's successors in interest. I.ender shall not be required to
<br /> commence proccedings against any successor in interest or refuse to extend time for payment or otherwise madify amortizalion
<br /> of the sums secured by this Security Instrument by reuson of any demand made by thc original Borrower ur Borrower's
<br /> successors in interest. Any forbearance by I.ender in exercising any right or remedy shall not be a waiver of or prcclude the
<br /> execcise of any right or remedy.
<br /> t2_ C��oc'ccorv nnd Assl¢ns Bound; Joinl and SeverAl Liabillty; Caslgners. Thc covenants and agrecments of this
<br /> Security Instrument shnll bind and benefit the successors And assigns of I.encier and Borruwcr, �uujcci t� ;�:. �ra�i�is:r.s of
<br /> paragraph 17, Borrower's covenants and ugreements shall be joint and several. Any Borrower who co••signs this Security
<br /> Instrument but dces not execute the Note: (a) is co-signing this Security instrument only to mortgagz, grant and convey that
<br /> Borrower's interest in the Property under the tcrnns of this Security Instrumenr (b)is not personally obligated ta pay the sums
<br /> secured by this Security Instrument;and(c)agrees that Lender und any other Borrower may ugrce to extend, modify,forbear or
<br /> muke any uccommodations with regard to the terms of this Security Instrument or the Note without that Borruwer's censent,
<br /> 13.Loan Charges.If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges,
<br /> and that law is finally interpreted so that the interest or other loan chargzs collceted or to be collected in conncctlon with the
<br /> loan excecd the permitted limits, then: (a)any such loan churge shall be reduced by tlie amount necessary to roduce the charge
<br /> to the permittcd limit; and(b)any sums already collected from Borrower H�hich excealed permitted limits will be rcfunded to
<br /> 6orrawer. I..cnder muy choose to make tliis refund by reducing the principal owed under the Note or by making a direct
<br /> payment to Fiorrower. If a refund reduces principal, thc reduction will be treated as a panial firepayment without any
<br /> prepayment charge under the Note.
<br /> 14.Nodces. Any notice to Borrower provided for in this Security Instn►ment shall be given by dclivering it or by mailing
<br /> it by first class mail unless applicable law requires use of another mcthod.The notice shall t►e dire;ted to the Propercy Address
<br /> or uny other address Borrower d;signates by notice to L.ender. Any notice to Lender shall be given by first class mail to
<br /> Lender's address stated herein or nny other addre,ss I..ender designates by notice to Borcower, Any notice provided for in this
<br /> Security Instrument shall bc deemed to have becn given to Borrowcr or Lender whcn given as provided in this paragraph.
<br /> 15.Governing Law; Severnbility. This Security Instniment shall be governal by federal law and the law of the
<br /> jurisdiction in which the Property is located. In the event thut any provision or clause of this Security Instrument or the Note
<br /> contlicts with applicable luw, suc{i conflict shall not lffect other provisions of this Security Instrument or the Note which can be
<br /> given effeet withnut the conflicting provision. To this end the provisions of this Security Instrument und�he Note are dcxlared
<br /> to bc severable.
<br /> 16.Borrowcr's Copy.Borrower shall be given one confor►ned copy of the Note and of this Security Instrument.
<br /> Form 3028 9/90
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