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<br /> payments inay no longcr bc rcqu9ral, at thc option of Lcndcr,if mortgagc insura�uc covcragc(in thc amount and for�hc period
<br /> that Lender requires)provided by an insurer approved by Lcnder again bccomcs available 1nd is obtained. B��rrower shall pay
<br /> thc prcmiums rcquired to maintain mortgage insurance in effect, or to provide a loss reserve, until the requiremcnt for mortgage
<br /> insurance ends in accordance with any written agreement betwecn Borrower and Lender or applicable law.
<br /> 9. In.�pection. I.cnder or its agcnt may make r�asonublc entries upon and inspections af�he Property. i.ender shall givc
<br /> Borrower notice at the time of or prior to an inspection speei(yinK rcasonable cause for the inspectian.
<br /> 10. Condemnetion, 'Phe proceeds of any award or elaim for damages, direet or consequential, in connection with any
<br /> condemnation or other taking of any part of tlic Property, or for convcyance in licu of condemnation, arc hcreby �ssigncct and
<br /> shall be pafd to L.ender.
<br /> In the event of a to�al taking of[hc Property, the procceds shall be applied to thc sums sccurcd by this Security )nstrument.
<br /> whether or not then due, with any excess paid to Borrower, In the event of a partial taking of the Property in which the fair
<br /> market valuc of the Properry immediatcly bcfore thc taking is cqual to or greater than the amount of thc sums sccurcd �y this
<br /> Sccurity Instrument immediatcly befare the taking,unless Borrowcr and Lender othcrwisc agrcc in wriring, thc sums secured by
<br /> this Security Instntment shall be reduced by the amount of the proceecls multiplied by the following fraction: (a) the total
<br /> amount of the sums secured immediately bcforc the taking, divlded by (b) the fair marke[ value of the Propcny imm�diatcly
<br /> before the taking. Any balance shall be paid ta Borrower. In the event of a partial taking of the Property in which the fair
<br /> market valuc of the Property immediately before the taking is less than the amount of thc sums secured immediately beforc thc
<br /> taking, unless Borrower and Lender otherwise agrec in writing ar unless applicablc law othe►wise provides,thc procecds shaU
<br /> be applied to thc sums secured by this Security Instcume�t whether or not the su�ns are thcn duc.
<br /> If the Propeny is abandoned by Borrower,or if, after t�otice by l.ender to Borrower that the condemnor otfcrs to make an
<br /> award or settic a claim for damages, Borrower fails to respond to l.ender within 30 days after the date the nottce is given,
<br /> Lender is authorizcd to cotlect and apply the proceeds,at its option, either to restoration or repair of the Property or to thc sums
<br /> secured by this Security lnstrument,�vhethcr_or nut then due.
<br /> Unless Lender and Borrower otherwise agree in writing, any applicatios� of proceeds to principal shall not extend or
<br /> postpone the duc date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments.
<br /> 11. Horrower Not Released;Forbearance By I.ender Not a Waiver. Extension of the timc for payment or modification
<br /> of a�nortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall
<br /> not operate to release the liability of the original Borrower ot Borrower's successors in interest. Lender shall not be required to
<br /> commence proc�edings against any successor in interest or refuse to extend time for payment or otherwise modify amortization
<br /> of the sums secured by this Security Instrument by reasan of any demand made by the original Borrower or Borrower's
<br /> successors in intPrest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or pteclude the
<br /> exercise of any right or remedy.
<br /> 12. Successors and Assigns Bound; Joint and Several Llability; Casigners. The covenants and agraments of this
<br /> C�r��sity fnc►mment chall hind and benefit the successors and assi¢ns of L.ender and Borrower, subiect to the provisions of
<br /> paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs thia Security
<br /> Ins[rument but dces not execute the Note: (a) is co-signing chis Security Instrument only to mortgage, granc and wnvey that
<br /> Borrower's interest in the Propeny under thc terms of this Security lnstrument; (b) is not personally obligated to pay the sums
<br /> secured by this Security Insttument; and(c)agrees that Lender and 1ny other Borrower may agree to extcnd,modify,forbeaz or
<br /> make any accommodations with regard to the tcrms of this Security Instrument or the Note without that Borrower's consent.
<br /> 13.Lown ChArges. lf the loan secured by this Security Instrumant is subject to a law which sets maximum loan chazges,
<br /> and that law is finally interpreted so that the interest or other loan charges cnllected or to tx;collecced in connection with the
<br /> loan exceed the permitted limits, then: (a) any such loan charge shall bc reduced by thc amount necessary to rcduce the charge
<br /> to the permitted limit; and(b)any sums already collected from Borrowcr which exceeded permitted limits will br. refunded to
<br /> Borrower. Lcnder may choose to make this refund by reducing the principal owed under the Note or by making a direct
<br /> payment to Borrower. lf a rofund r�duces principal, the recluction will be n•eated as a panial prepayment without any
<br /> prepaym�nt charge under the Note.
<br /> 14.NoNces.Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing
<br /> it by first clpss mail unless applicable law requires use of another method.The notice shall be directed to the Proper�y Address
<br /> or any other adJress Borrower designates by notice to Lender. Any notice to Lender shall be given by first clazs mail to
<br /> i.ender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this
<br /> Securi[y Instrument shall be deemed to have bcen given to Borrower or L.endcr wheii givcn as provided in this pa�•agraph.
<br /> 15.Governing �,aw; Severability. This Security Instr�ment shall be governed by federal law and the law of the
<br /> jurisdictio�i in whicli the Propeny is locatcd, In the event that any provision or clause of this Security Instrument or the IYote
<br /> conflicts with applicable law,such conflict shall not affect other provisions of this Sec:urity Instrument or the Note which can be
<br /> given effect without the conFlicting provision. To this end the provisions of this Security(nstru►nent a�id the Note ue declared
<br /> to be severable.
<br /> 16.Borrower's Copy.Borrower shnll be given one conformed copy of the Note and of this Security Instrument.
<br /> � Form 3028 9/90
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