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<br /> � 98- 11�444
<br /> � pnymcnts tnay no lortgrr he rcqulrcd,nt the op�f�n of l.cnder,if rnortgnge insurancc covernge(in the amount und for thc periocl
<br /> thnt I.endcr rec�uircy)provided by an insurcr upprovcd by Lr.ndcr ognln becomes uvnllnble.md is abtnined. Borrowcr s6n11 pay
<br /> thc premium�rcqufrcd to malntaln mongagc insurance in effect,ar to provldc n loss rescrve, untll tl�e requirement for martgage
<br /> insurance onds in accordance with any wriuen agreement betwan Borrower and L.ender or applicable luw.
<br /> 9. Inspectlon. L,�nder or Its agcnt may muke reasonable entrles upon and lns{xctions of the Aroperty. Lcndcr shall give
<br /> Borrower notice at the timo of or prlor to an inspecAon speclfying reasonable cause for the ins�ction.
<br /> 10, Condemnation. The proceeds of any s►ward or clalm for dam�ges, dlrect or consequential, in connection with uny
<br /> condcmr�at�on ar other taking of any pnrt of the Property, or for convcynnce in Ileu of condemnation, ere hereby assigned nnd _
<br /> shall be paid to Lendcr,
<br /> In the evcnt ot a totnl taking of the Propeny, the pmceeds shull bc applied to the sums securcd by this Sccurity Instrument,
<br /> whcther ar not tben due, with any excess pald ta Borrawcr. In the cvcnt af a partial taking of the Propeny in which thc fuir
<br /> market value of thc Propeny immedlstely before the taking is equal to or grcatsr than the umount of the sums sceured by this
<br /> Security lnstrun�ent immediately before the taking,unless Borrower nnd Lend�r otherwise ugreo in writing, the sums stcured by
<br /> this Security Instruinent shnll bc reduced by Ihe amount af�he procceds multiplied by the fallowing fraction: (a) the tot�l
<br /> amount of thc sums s�cured Immuiiately before the taking, dlvided by (b)thc falr market value ot thc Propeny immediatety
<br /> before the teking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in whicli the fair
<br /> market value of the Praperty immediatcly befor� the taking is lcss than thc amount of the sums secured immediutely before thc
<br /> taking, unless Borrower and Lender otherwise agree in writing or unless ap�licuble law otherwise provides, the procads shall
<br /> be applied to the sums securai by thls Security Instrument whether or not the sums aro then duc.
<br /> If the Property is abandoned by Borrower, or if, aftcr nottcc by L.ender to•Borrower that thc condcmnor offers to make an
<br /> award or senie a claim for da►nages, Borrower fails to respond to Lcndcr within 30 duys after the date the notice is given,
<br /> I.ender is authoriud to collcet and apply the proceeds,at its option,either to restoratiun or repair of the Property or to the sums
<br /> sceured by thls Security Instrument,whether or not then du�.
<br /> . Unless L.ender and Borrower otherwise agrce in writing, any application of proceeds to principal shall not excend or
<br /> postpone the due date of the monthly payments reftrr�d to in paragraphs 1 and 2 or change the umount of such payments.
<br /> 11.Borrower Not Released;Forbmrance By I.ender Not a W�iver.Extension of the time for payment or mcxiification
<br /> of amortization of the sums secured by this Security Inetrument granted by Lender to any successor in interest of Borrower shall
<br /> not operate to relea�e the linbility of the origlnai Borrower or Barrower's succossors in lnterest. Lender shall not be requirai to
<br /> commence proceedings against any successor in interest or refuse to extend tim^for payment ar atherwise modify nmortization
<br /> of the sums secured by this Security Instrumcnt by rcason of any demand made by the original Borrower or Bonower's
<br /> successors('in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the
<br /> VAY�{JY�L OI{jr fl�ytti OT f::Tt.4�• -
<br /> 12. Succasors and Assigns Bound; Jolnt ond Several Ltabillty; Casigners. The covenants and agrcements of this
<br /> Security Instrument shall bind and benefit tt!e successors and assigns of Lender and Borruwer, subject to the provisions of
<br /> pazagraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co•signs this Security
<br /> Instrument but does not cxecute the Note: (a)is co-signing this Security Instrument only to mortgage, grant and convey that
<br /> Borrower's interest in the Property under thc terms of this Security Instrument; (b) is not persanally obligated to pay the sums
<br /> secured by this Security Instrument;and(c) agrecs that Lender and any other Borcower may agree to extend,modify, forboa:or
<br /> make any Aaommodations with regazd to the[erms of this Security Instrument or the Note without that 8onower's consent.
<br /> 13. Loan Char�es. If the laan secured by this Security Instrument is subject to a law which sete maximum loan charges,
<br /> and that law is finally interpreted su that the interest or other loan charges collxted or to be collxted irt connection wlth the
<br /> loan exceed the permitted limits, then: (a)any such loan charge shall be reduced by the amount necessary to reduce the charge
<br /> to the permitted limit; and(b)any sums already collected from Borrower which exceeded permi.tted limits will be cefunded to
<br /> Boirower. Lender may choose to ma3ce this refund by reducing the principal owed under tbe Note or by making a direct
<br /> payment to Bonower. If a refund reduces principal, the reductlon will be treated as a partial prepayment without any
<br /> prepayxnent charge under the Note.
<br /> ' t4.Notices, Any notice to Aorrower provided for in this Security instruinent shall be givcn by delivering it or by mailing
<br /> it by first class mail unless applicable law requires use of another method.The notice shell be direcced to the Property Address
<br /> or any other address Borrower designates by notice to Lender. Any notice to I.ender shall be given by first class mail to
<br /> Lender's address stated herein or any other eddress Lender designates by notia to Rorrower, Any notir,e provided for in this
<br /> Security Instrument shall be deemed to have been given to Borrower or Lender when givcn as provided[n thia paragraph.
<br /> 15.Governing Law; Severabllity. This Security Instrument shall be govemcd by fedcral law and the law of the _-
<br /> jurisdiction in which the Property is located.In the event that any provisiun or clause of this Security Instrument or the Note `
<br /> conflicts wiih Applicable law,such conflict shall not affect 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 Security Instrument and the Note are dcelared
<br /> to be severable.
<br /> 16.Borrowcr's Copy.Borrowcr shall be�ivcn one conformed copy of thc Notc and of thls Security Instrun�cnt.
<br /> ' Form 3028 9/90
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