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<br /> 98•— 112669
<br /> payments may no longcr bc requircd,at the option of l.cndcr, if monguge insurancc covcragc (in thc umount und for thc pericxl
<br /> thut Lender rcyuires)provided by an insurer approveci by l.ender ugain bccomes availuUlc and is ohtaincd. I3orrower shull puy
<br /> tha premiums requircci to maintai�i monguge insurancc in effect,or to providc u loss reservc,until thc rcquircmcnt For mortguge
<br /> insurancc cnds in uccordance with nny writtcn ugrec�ncnt hctwecn Eorrowcr.md L.c�der or npplirahlc Inw.
<br /> 9. InSpecNon. Lendcr or its;�gcnt muy make rcasonahlc cntrics upnn and inspections iit�tlic f'rnperty. Lcndcr shnll give
<br /> Horrowcr noticc at the timc of or prior to an inspcction s�cifying rcusnnablc:causc for thc inspcctinn.
<br /> 10. Condemnatlon. The procecds uf nny uweird or cluim for damages, direct or consequcntinl, in ciinnection wi�h any
<br /> condcmnadon or othcr tnking of any pan of thc Property, or for convcyance in licu of condcmnution, arc hcrehy nssigncd nnd
<br /> shall lx:paid to L.cndcr.
<br /> [n the event of a�tntal taking of the Property,Uu praceecis shull be .�pplicd to the sums secured by this Security Instrument,
<br /> whether or nut thc:n Jue, with any cxccss paid tu [3orrc>wcr, In the event of a partial taking.of thc Prnperry in tivhich thc fair
<br /> market vnlue of the Property immcdiately before the u�king is equal to or grcatcr thun thc am�unt of the sums sccurcd by this
<br /> Security Instrument immediately before the taking, unless Dorrower and I.ender otherwise agree in writing, thc sums secureci by
<br /> this 5ecurity Instrument shull bc rcduced by thc s�maunt ofi' thc proceeds multiplicd by the following fraction: (a) the total
<br /> umount of the sums sccured immediately beforc the taking, dividcd by (b) thc fair markc�valuc of the Pn�perty immcdiatcly
<br /> beforc the taking. Any bulance shall be paid to 13nrrowcr. In the evcnt of a partial tAking af thc Propeny in which the fair
<br /> market vulue of the Property innnedistcly befocc thc taking is Icss than thc amount of the sums sccured immcdi�tcly bcfore thc
<br /> taking, unless Borrower and Lcnder otherwise agrec in writing or unless applicuble law otherwise provicics, thc procccds shull
<br /> be appliecl to the sums secured by this Security Instrument wliether or not the sums nre then due.
<br /> If the Property is abandonecl by Borrower,or if,after notice by Let�dcr to Borrower that the condcmnor offcrs to make nn
<br /> award or settle u claim for damages, Aorrower fails to respond to Lender within 30 d�ys aftcr thc date tlie noticc is given,
<br /> Lender is authorized to collect and apply the proceeds,at its option,either to restoration or repair of the Pro�erty or to the sums
<br /> secure�by this Security Instrument,whether�r not tlien due.
<br /> Unless Lender and Borrower otherwisc agree in writing, any application of procecds to principal shall not extend or
<br /> postpone the due dute of the monthly payments referred to in parugraphs I and 2 or change the amount of such payments.
<br /> 11. Rorrower Not Released;Forbearance By I.ender Not a Wuiver. Extension of the timc for puyment or madification
<br /> of umortization of the sums secured by this Security Jnstrument granted by L.ender to any successor in interest of Borrower shall
<br /> not operste to rclease the linbility of the original Borrower or Borrower's successors in interest.Lender shall not be required to
<br /> commence proceedings against any successar in interest or refuse to extend time for payment or atherwise modify amortization
<br /> of the sums secured by this 5ecurity Instrument by renson of any demand made by the original Borrower or Borrower's
<br /> successorh in interest, Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the
<br /> exercise of any right ar remedy.
<br /> 12. Successors and Assigns Bound; Joint and Several Liability; Co•signers. 'I'he covenants and agreements of this
<br /> Security Inst�ument shall bind and benefit the successors and ussigns af Lendar und Borrower, subject to the provisions of
<br /> paragraph 17. Borrower's eovenants and agreem�nts shail be joine and severui. i�ny Burcowcr w1�u cu-sigr�s ihis Sc:.urity
<br /> Insttument but dces not execute the Note: (a) is co-signing this Security Inst�ument only to mortgage, grant and convey that
<br /> Borrower's interest in the Property under the terms of this Security Instrument; (b)is not peraonally obligated to pay the sums
<br /> secured by this Sscurity Instrument;and(c)agrees that L,ender and any other Borrower may agree to extend, mcxiify, forbear or
<br /> make any accommodations with regard to the terms of this Security Instrument or the Note without that Bonower's consent.
<br /> 13. Loan ChArges. If the loun sccured by this Security Instrument is subject to a law which sets maximum loan cl►arges,
<br /> and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the
<br /> loan exceed the permitted limits, then: (a)any such loan charge shall be reduced by thc amount necessary to reduce the charge
<br /> to the permitted limit; and(b)any sums ulreAdy collected fr�m Borrower which cxceecied permitted limits will be refunded to
<br /> Borrower. Lender mny choo�e to make this refund by reducing the principal owed under the Note ur by mnking a direct
<br /> payment [0 8orrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any
<br /> prepayment charge under the Note.
<br /> 14.Notices. Any noticc to Borrowcr provided for in this Security Instrumcnt shall bc givcn by delivering it or by mniling
<br /> it by first class mail untess applicable law requires use of another mcthod. The notice shall bc dirccted to the Property Address
<br /> or any other nddress Borrower designates by notia; to L.ender. Any notice to Lender shall be given by first class mail to
<br /> Lender's address stated herein or any other address Lendcr designates by notice to Borrower. Any notice provided for in this
<br /> Security Instrument sliall be decmed to have been�iven to Borrower or l.ender wlicn given as provided in this parngraph.
<br /> 15.Coverning Law; Severability. This Security instiument shall be governed by federal law and the law of the
<br /> jurisdiction in which the Property is located. In the event tt►at nny provision or clause of this Security Instrument or the Note
<br /> conflicts with applicable law, sucli 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 declared
<br /> to be severable.
<br /> 16.Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br /> Form 3028 9190
<br /> Pefle 4 ot B
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