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<br /> payments may no longcr bc rcquired,at thc option of L.cndcr,if mortgagc iusurancc covcragc(in thc wnount and for d�c period °
<br /> that Lcndcr requires)provldcd by an insurcr approvcd by Lcndcr ngain bccames ava�lablc und is abwincd.Horrowcr shall pay thc ��
<br /> prcmiums rcquired to maintaln mangagc insurancc in effect, or to provldc a loss rescrve, until the rcquircment for mortgagc • �
<br /> insurance cnds in ac:cordance with any writtcn ugrccmcnt bctwccn Borcowcr and T.endcr or appticablc law. • T
<br /> 9.Inspection. Lcndcr or its agcnt may makc rcasonablc cntrics upon and inspecuons of thc Property. L.cndcr shall �ivc� , ;`:;t�: ..
<br /> " „� Borrower nodce at ihe time of or prior to an insgecdon specifyin�reasonable cause for the inspection. y ' ` ;,;��;:+`3. �
<br /> � 10.Condemnation. '!he procceds of any award or claim for damnges, direct or conscqucntial, in connection with any � �.. ,.��'; •;:;M..�
<br /> � condemnapon or other taking of any part of the Property.or for conveyance in licu of candemnauon,are hereUy ussigned and � , .;�:,''��.� �'���=_,_
<br /> shall be paid to Lcndcr. � ;�y�,.:k�'��4--_'-'_--�--���•-
<br /> ' In thc cvcnt of a totnl uticing of the Ptoperty,the procccds shall bc applied to the sums sccured by ihis Security Insuumcnt, Q •:. �_
<br /> whether or not then dae,with eny exeess paid to Bocrower. In the event of a partial teking of the Property in which the fair market� ,,'�"--�
<br /> value of the Property immodiatcly before the taking is equal to or greater than the amount of the sums secured by this Security h�<i 4
<br /> Instrument immediately before the teking, unless Borrower and Lender otherwise agrec in wridng, the sums sccured by th� .�,�.�:
<br /> Security Instrumcnt shall bc rcduccd by thc amount of the proceeds muldplicd by thc following fracdon: (a)the wtal amount of • t•�s�;:���
<br /> � thc sums secured immediatel before the taking, divided by (b) the fair market valuc of the Property immediately before the ;t`'��
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<br /> taking.Any balancc shall bc paid to Bonowcr. In thc cvcnt of a partial taking of the Property in which thc fair markct valuc of thc I
<br /> Property immediately bcforc the taking is Icss than �hc amount of the sums sccurcd immcdiatcly bcforc thc taking, unlcss ��`` - —
<br /> Boaowcr and Lcnder othenvise agrec in wripng or unless applicablc law othcrwise provides,the procceds shall be applicd w the I �'fT
<br /> sums secured by this Securiry Instrument whether or not the sums are then due. `=�`«;�
<br /> If the Properry is abandoned by Borrower,or if, after norice by Lender to Bunower that the condemnor offers to make an _
<br /> � award or seule a claim for damages,Borrower fails to respond to Lender within 30 days after the date the notice is given,Lender '';���;c�
<br /> is authorizcd to coUcct and apply the procccds.at its opdon,cither to restoration or repair of the Property or to the sums secured �``-
<br /> by this Security Instrument,whether or not then due. �'�•'�;.`�
<br /> � Unlcss Lender and Borrower othcrwisc agrce in wridng,any appGcadon of proceeds to principal shaU not cxtend or postpone ± '�• ,�;,_
<br /> the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. �;
<br /> 11.Borrower Not Released;Forbearance By Lender Not e Waiver. Extension of the dme for payment or modification •��°
<br /> of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interesi of Borrower sh�ll ,;,
<br /> nut operate co rcicasc rhe linbility ut tS,G u�igu�aS Bo�rawar or�ormwcr'��uccew:or� 'sa fnsrses�Lendcr rtsa!!nat be rcguired tQ � ' -��
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<br /> commence proccedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of , —
<br /> the sums sccured by this Security Instrument by reason of any demand made by the original Boaower or Bonower's successors �� �x'
<br /> in interesG My forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any ��
<br /> right or remedy.
<br /> 12.Successors and Assigns Bauad;Joint and Several Liability; Co•sigi�ers. The covenants and agrce�ments of this �• �-
<br /> ' Security Inswment shall bind and benefit the successors and assigns of Lender and Bonower, subject to the provisions of 1'`�
<br /> paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Bonower who co-signs this Securiry _
<br /> Instrument but does not execute the Note: (a) is co-signing this Seciuity Instrument only to mortgage, grant and convey that _ °--
<br /> Borrower's interest in the Property under the terms of this Sccurity lnstrument;(h)is not personally obligated to pay the sums
<br /> . securcd by this Security Instrument;and(�)agrecs that Lender and any othcr Borrower may agree to extend,modify,forbear or
<br /> make any accommodations with regard to the terms of this Securiry Instrument or ihe Note without that Borrower's consenG -
<br /> 13.Loan Charges. If the loan secured by this Securiry Instrument is subject to a law which sets msiximum loan charges.
<br /> and that law is finally interpreted so that the interest or other loan chaz�es collected or to be collected in connection with thc loan _.
<br /> exceed the permiuecl limits,then:(a)any such loan charge shsill be reduced by the amount necessary to reduce the chazge to the ---s.
<br /> � permiued limit;and(b)eny sums alrcady wllected from Bonower which cxcecded pcm►ittcd limits will be refundcd to Bonowcr. • _�—
<br /> L.ender may choose to mulce this refund by reducing ihe principal owed under the Note or by making a d'uect payment to ,;���._
<br /> � Borrower. If a refund reduces principal,the reducuon will be treated as a partial prepayment without eny prepayment charge '�-'
<br /> i under the Note. _
<br /> 14.Notices. Any notice to Bonower provided for in this Securiry Instrument shall be given by delivering it or by mailing it .. .-,:' "�'�-
<br />- by Cirst class mail unless applicable law requires use of another method.The notice shall be d'uected to the Property Address or � �'� .
<br /> � any other address Bonower designates by notice ta L.ender.Any notice to L en der s h a l l b e given by Cast c lass mai l w L en der's ''��'�"��'"'
<br /> address stated hcrein or any othcr address Lender designaus by nodcc to BoiTOwer. Any noticc provided for in this Securiry . I : �,.:��.
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<br /> Instrument shall be dcemed to have bcen given to Borrowcr or Lender whcn given as provided in this paragraph. `'� �' �.�:•
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<br /> 15.Goveraing Law;Severability. This Sccurity Insirument shall be govemed by federnl law und the law of thc ,�;��
<br /> jurisdicuon in which the Propeny is located. In the event that any provision or clause of this Security Inswment or the Note ' ' �
<br />' I contlicts with applicablc law,such conflict shall not affect othcr provisions of this Sccurity Instrumcnt or thc Notc which can bc ,„ ' '
<br />; I given effect without the conflieting provision.To this end the provisions of this Security Inswment and the Note are dcelared to .,, I
<br /> bc scverablc.
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<br />` i Form 3028 9/90
<br />. ' Qy�j -eR(NE)�oziz�.o� PagnAO18 inmaie:
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