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<br /> payments may no longcr bc rcquired,at thc option of Lcndcr, if mor�gagc insurancc covcragc(in thc umount and for ihc period •.
<br /> • � that Lcnder requires)providcd by an insurcr approvcd by l.i:ndcr again bccomcs availablc and is obtained.Barrowcr shall pay U�c .:,t,
<br /> ` prcmiums required to maintain mongagc ins�uar►cc in cffcct, or to providc a loss rescrvc, until thc rcquiremcnt for mortgagc `:;"�°
<br /> �"""""� insurancc cnds in accordancc with any written agrccmcnt bctwccn Bonowcr end Lcndcr or applicablc Inw. `.:�
<br /> •,�,.��,-,�,,,p�. I.cndcr shall �vc � t-�
<br /> 9.Inspectfoa. Lcnder or its agent may make rcasonablc cntrics upan and inspcctions of thc Property. �� � �_
<br /> Borrower notice at the ame of or prior to an inspecdon specifying reasonable cause for the inspection. ±`�:--
<br /> 10.Condemnation. The proceeds of any award or claim far damages, d'uect or consequendal, in connection with nny r -_
<br /> • condemnarion or other taking of any pare of ihe Property,or far conveyance in lieu of condemnaaon,azc hereby assigned and
<br /> shall bc paid to Lcndcr.
<br /> In the event of a total taking of thc Property,thc procccds shall be applied to thc sums sccutcd by this Securiry Instrumcnt, _v__
<br /> ' whether or not thcn due,with any excess paid to Borrowcr.In thc event of a partiel taking of the Property in which the fair mazkct � ___
<br /> t valuc of the Property immediatcly beforc thc taking is equal to or greater than ihe emount of ihe sums secured by this Security ___
<br /> � Instrument immediately beforc the taking, unless Borrower and Lcnder othcrwisc agrec in writin�, thc sums secured by this _
<br /> ;� Securiry Instrument sliall be recluced by the amount of the procer,ds miiltiplied by the following iraction: (a)the total amount of � �`f.Y-�
<br /> � the sums sccured immediatcly before the taking, divided by (b) che fair markct value of thc Property immediatcly before thc ___
<br /> taking.Any balance shall be paid to Bonower.ln the event of a partial taking af the Property in which the fair market value of the
<br /> ' Propercy immediately bcfore the taking is less than thc amount of thc sums secured immetliately before thc taking. unless �;:,w
<br /> ���-_
<br /> Borrower and Lendcr otherwise agrec in writing or unless applicable law otherwise provides,the procceds shall be applied to the -,}Y_
<br /> • '� sums securcd by this Securiry Instrument whcther or not thc sums arc then due. �_Y:;;;
<br /> If the Properry is abandoned by Boaower,or if,after nouce by l.ender to Borrowcr that ttic condemnar ofters to makc an ,,�,_
<br /> award or settle a claim for damages,Borrowar fails to respond to Lender within 30 days after the date the notice is given,Lender �.4_�—
<br /> is authorized to collect and apply the procceds,at its opuon,cither to restorauon or repair of the Propeny or to the sums secured —
<br /> " by this Securiry Instrument,whether or not thcn due. '-�
<br /> �' Unless Lender and Borrower otherwise agree in writing,any application of proceeds to principal shall not extend or postpone
<br /> �..
<br /> -- -"__'�'_ �ne duc cjat�uf tY�e mor�ihly paymcnt�ref�rz�co in psragzarhs ] end 2�*chanee the amoun[of such payments.
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<br /> 11.Borroaer Not Released;Forbearance By Lender Not a Wniver. Extension of thc dme for payment or moditication
<br /> �•�' of amorrization of the sums secured by this Security Instrument granced by Lender to any successor in interest of Borrower shall
<br /> � � not operate to release the liability of the original Borrower or Boaower's successors in interest.I.ender shaU not be required to _
<br /> � � commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortizauon of
<br />. , �- the sums secured by this Security Inswment by reason of any demand made by the original Boirower or Boaower's successors
<br />- in inUeresG Any forbearance by I.ender in exercising any right or remedy shall not be a waiver of or preclude the exercise of ony
<br /> right or remedy.
<br /> ` 1Z.Successors and Assigns Bound;Joint and Severel Liabtiity; Co-signers. Thc covenants and agrecments of this
<br /> Securiry Inswment shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of
<br />_ ;; paragraph 17. Borrower's covenants and agreements shaU be joint and several, Any Borrower who co•signs this Security _
<br /> _�l , Instrument but does not execute the Note: (a) is co•signing this Securiry Instrument only to mongaIIc,gsar►t end convey that _
<br />` � Boaower's interest in the Property under thc terms of this Seciuity Inswment; (b)is not personally obligated to pay the sums
<br />- secured by this Security Instrument;and (c)a�rees that Lender and any other Bonower may agree to extend,modify,forbcar or _
<br /> � make any accommodations with regard to the terms�f�his Security Instrument or the Note without that Borrower's consen� �,.
<br /> 13.Loan Charges. If the loan secured by this Secunry Inswment is subject to a law which sets maximum loan chazges, _
<br />_ , and that law is finally interprcted so that the interest or other loan charges collected or to be collected in connecuon with the loan - _
<br /> R- —
<br />- � exceed the permittc,ct limits,then: (a)any such loan charge shall bc reduced by the amount necessary to reduce the charge to the �
<br /> „ •.� peimittecllimit:and(b)anY sums already collected from Borrower which excecded permitted limits will be refunded to Bonower. ¢
<br /> -' Lender may choose to maY.e this refund by reciucing the principal owed under the Note or by making a duect payment to ��:.
<br /> � Borrower. If a refund reduces principal, thc reduction wiU bc aeatcd as a panial prepayment without any prepayment charge
<br /> _ � under the Notc. ,• =
<br /> � 14.Notices. Any noticc to Borrower providcd for in this Security Inswment shall bc given by delivering it or by mailing it -
<br /> by first class msil unless applicable law requires use of another method.The notice shall be directe�to the Propercy Address nr • � _-___
<br /> any other address Borrower designates by notice to L.ender. Any nouce to Lender shall be given by fust class mail to Lender's ��1' �-:�_
<br /> � address stated hcrcin or any othct address Lender designates by nouce to Boaowcr. Any norice provided for in this Security ;�. -.-�s_;
<br /> Instrument shall bc decmed tu havc been givcn to Borrowcr or Lendcr when givcn as provided in this pazagraph. ' _
<br /> 15.Governing Law;Severability. This Security Instrumcnt shall be govcmed by fcderal law and �hc law of thc
<br /> jurisdiction in which the Propeny is located. In the event that any provision or clause of this Security Inswment or the Note
<br /> .. , conflicts with applicablc law,auch contlict shall not affect othcr provisions of this Sccunty Insvumcnt or the Notc which can bc
<br /> - given effect without thc contlicting prov�sion.To this end�hc provisions of this Sccurit}�Inswmcni and thc Notc are declarcd to .
<br /> _, be sevcrable.
<br /> Form 3028 9/80 I
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