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<br /> � � paymenu may no longcr bc requircd,at thc opdon of Lcndcr,if mortgagc insurancc covcrage(in thc amaunt und for thc period � • -
<br /> that Lcndcr rcquires)provldcd by an insurcr approvcd Uy Lcndcr again bccomcs availablc and is obtainrd.IIorrowcr shall pay thc -_._.�
<br /> . prcmiums requucd to maintain mortgagc insurai►ce in effect, or W provide a loss reserve, unW thc rcquircment for mortgagc ' ��—
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<br /> , , .•a insurance ends in accordance wlth any wducn agreement between Bonower and Lender or appllcable law. � __
<br /> • , �• 9.Inspectlon. Lcndcr or its agent may makc rcasonablc enbries upon and inspectians of thc Property. Lendcr sh�ll givc " ,"�.:.tz��;;�l-_`—"—
<br /> Borrowar notice at the dme of or prior to an inspection specifyin�reasonable cause for the inspection. ����„�"-=-
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<br /> ' 10.Condemnatton. 'Ihe procecds of any award or claim for demages. dfrect or consec�uential, in connection with any . __
<br /> candemnation or other uiking of any part of thc Property,or for convcyance in lieu of condemnadon,are hereby assigned and "� °--
<br /> � shall be paid to Lcnder. -
<br /> In the event of a total taking of the Property,the proceeds shaU be appUed w the sums secured by this Security Instrument, ---
<br /> • whether or not then due,with any excess paid to Borrowcr.In the event of a pardal taking of the Property in which thc fair mazket
<br /> ' value of the Property immediately before the teking is equal to or greater ihan ihe amount of the sums secured by this Securiry � —_,
<br /> � I Instrument immediau�ly before the taking, unless Borrower and Lcnder otherwisc agrce in wridng, the sums secared by this .�:� �;��;_
<br /> � � Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fracdon:(a)the total amount of
<br /> ti the sums securcd immediatcly beforc thc taking, divided by (b) the fair markct valuc of the Praperty immediately before the • ':l`
<br /> : �' taking.Any balance shall bc paid to Borrower.In the event of a partiial taking of ihe Prop�rty in which the fair market value of the ;��,�
<br /> Property immediately beforc the taki►►g is less than the amonnt of the sums secured immediately before the taking, unless
<br /> I Bocrower and I,ender otherwise agree in writing or unless applicable law otherwise provides,the proceeds shall be appliad w the �
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<br /> % � I sums securcd by this Sccurity Instrument whether or not the sums arc then due. � �° .
<br /> �� If the Property is abandoned by Boaower,or if, after nouce by Lender to Bonower that the condemnor offers to make an .;�:.��
<br /> award or settle a claim for damages,Borrower fails to respond to L.ender within 30 days after the date the notice is given,Lender -v. ���
<br /> �•� is authorized to collect and apply the proceeds,at its opuan,either to restoradon or repair of the Property or to the sums secured '�5�:�
<br /> by this Security Instrument,whether or not then due. ''+ '����
<br /> �, Unless Lender ar►d Borrower othenvise agree in writing,any application of proceeds to principal shall not extend or postpone •x .',�;
<br /> � the due date of the monthly paymcnts rcfe�red to in paragraphs.l and 2 or change the amaunt of such payments. ���''
<br /> = I1.8orrower i�Toi Fceieased;rorbearance By Lentier ivot a viwAiver. Extension of the ame for payment or moditication ti�`,
<br /> of amorti�aflon of the sums securecl by this Securlry Inswm�nt granted by Lender to any successor in interest of Boaower shaU �:�
<br /> not operate to release the liability of the originel Borrower or Borrower's successars in interest.Lender shall not be required to '�"��="��
<br /> ' commence proceedings aguinst any successor in interest or refuse to extend ti►ne for payment or otherwise modify amortiz.ution of ���—�''"-"
<br /> , the sums secured by this Security Instrument by reason of any demend made by the original Borrower or Bonower's successors ;�::.
<br /> , in ineerest Any forbearance by Lender in exercising any right or nmedy shall not be a waiver of or preclude the exercise of any ��
<br /> � right or remedy. ;•�'
<br /> � 12.Successors and Assigns Bound;Joint and SeverAl Liabflity; Co-signers. The covenants and agreements of this
<br /> ,.•. Security Instrument shall bind and benefit the successors and assigns of Lender a�id Borrower, subject w the provisions of p„��
<br /> pazagraph 17. Borrower's covcnants and agrecmcnts shall be joint and several. Any Bonowcr who co-signs this Security L;—
<br /> �� Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage,grant and convey that ��
<br /> a• Borrower's interest in the Property under the tercns of this Securiry Instrument;(b)is not persun�lly obligated to pay thc sums �:
<br /> �Y secured by thls Security Instrument;end (c)agrees that I.ender and any other Aorcower may agree ec�extend,malify,forbear or �-:��
<br /> -M make any accommodations with regard to the terms of this Security Instrument or the Note without that Bonower's consenG �:'�°
<br /> �i. 13.�.oan Charges. If tho loan secnred by this Secnrity Instrument is subject to a law which sets maximum loan chnrges, = ,.____
<br /> '" �! and that law is finally interpreted so that the interest or other loan charges co0ected or to be collected in connection with thc loan _
<br /> � exceed the permitted limits,then:(a)any such loan charge shall be reduced by the amount necessary co reduce the charge w the -
<br /> t permitted limit;and(b)any sums alrcady collected from Borrower which exceeded permitted Gmits will be refunded to Bonower. ���.'�i"��'—
<br /> Lender may choose to make this refund by reducing the principal owed under the Note or by making u direct payment to
<br /> " i Borrower. If a refund reduces principal, the reducqvn wiU be treaGZd as a partial prepayment without any prepayment charge " :`;±��r�a.:�:= _
<br /> . undcr thc Nntc. ��` . --- '�
<br />- 14.Notices. Any nodce to Bonower provided for in this Security Instrument shall be given by delivering it or by mailing it '`" `r��l+�.ar':.��
<br /> by fust class mail unless applicable law requires use of another method.The notice shall be d'uccted to the Property Address or ��'�,��`� �
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<br /> any other address Borrower designates by notice to L.ender.Any nodce to Lender shall be given by first class mail to I.ender's �;;�' :�•°•.
<br />= address stated herein or any other address L.ender designates by notice to Borrower. Any notice provided for in this Security �=.;:
<br /> Instrument shall bc dcemect to have bcen�iven to Borrowcr or Lcndcr when given as provided in this paragraph. '"',,.�;,,,-�,::�?�,.'
<br />_ 15.Governing Law;Severability. This Security Instrument shall bc govcrned by federal law and the law of thc • • `
<br /> jurisdiction in which Ihe Property is located. In dic evcnt that any provision or clause of this Sccurity Instrumcnt or thc Note •
<br />_ conflicts with applicable law,such conflict shall not affect other provisions of this Security Instrument or the Note which can be � •
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