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<br /> payments may no longer be requircd, at the option of I..ender,if mongugc inxurunce covcragc(in thc nmount und for thc parioci
<br /> that I.ender requires)provided by an insurer approvcd by l.tnder ngain hecomcs uwifluhlc�md is iihtaincd. fl��rrowcr shull puy
<br /> tlie psemiums required to maintain mortgngc insurance in cffect. or to pmvide i�loss resa��e, uiufl Ihc requirement fur mortgu�e
<br /> insurance ends in accordancc with any written agreement between Barrower nnd I.ender ur upplicuMe luw.
<br /> 9. Inspection. Lcnder or its agent may makc reasonablc entrics uF�m und ins�xctionti of�hc I'ro�x�r�y. I�:ndcr shull givc
<br /> Borrower notice at thc time of or prior to an inspection specifyir�g rcusonuhle cuusc for thc ins{+cction,
<br /> 10. Conekmnation. 'The proceeds of any awurd or claim for damages, direet or conseyucntinl, in ronnectfun with uny
<br /> condemnation or other taking of any part of the Property, ar for convcyancc in licu of cundcmnudun. +u�c hcrcby ussigncd and
<br /> shall be paid tu Lender.
<br /> In thc event of a total taking of the Propeny,the procccds shull bc upplicd to�hc sums sccured by tfii+Sccurity Instrumcnt,
<br /> whcther or not then due, with nny excess puid to Borrawer.In the cvcnt of u pcirtiul taking�of thc Pro�xrty in which thc fair
<br /> markct value of the Property immediately br.fore the taking is cquul to or grcuter thun thc umount of the sums sccured by this
<br /> Sccurity Instrument immecliately before the tnking,unless Aorrower and Lcnder otherwisc ugrcc in writinb, thc sums sccural by
<br /> this Security Instrument shall be reduced by the amount of the proceeds multiplied by thc following fnu�tion; (u) the total
<br /> amount of thc sums secured immeeliately before the taking,dividcd by (b) the fnir mnrket vnlua of thc Prnperty inuncdiately
<br /> before the taking. Any balance shnll be paid to Borrower.[n the event of u partial taking of the Property in which the fair
<br /> mnrkec value of the Propeny immediately before the taking is icss thun the amount of the sum.r• securcd immaliutely t+cfore the
<br /> taking, unless Borrower und Lcnder otherwise ugrec in wri�ins or unle�s applicable luw otl�crwisc provides, tl�e proccals shell
<br /> bc applicd to the sums sccured by this Security Instrument whcther ar not thc sums nrc thcn c�ue.
<br /> If the Property is abandoned by Borrower, or if, after natice by l.ender to Borrower thut thc conJcmnor offers to muke an
<br /> award or settle a claim far damages, Borrower fails t� respond to L.endcr within 30 dayr: aftcr the Jatc the noticc Is glven,
<br /> L.ender is authorized to collect and apply the proceeds, at itsoption, cither to restoruticm or rcpair of th�Pruperty oi to the sums
<br /> secured by this 5ecurity Instrument,whether or not then due.
<br /> Unless Lender and Borrower otherwise agree in writing, any application of procecds to principul �hull nat extend or
<br /> postpone che due date of the monthly pnyments referred to in paragraphs 1 and 2 or change che amount of such puyments.
<br /> 11. Borrower Not Released;Forbearance By I,ender Not a Waiver. Extension of the timc for payment c�r moclification
<br /> of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of&�rrow�r sfiall
<br /> not opernte to release the liability of thc ariginal Aorrower or Borrower's succcssors in interes!. I.cnder shull not bc required to
<br /> commence proceedings against any successor in interest or refuse to axtend time for paymcnt or otherwise mcxlify amortlzation
<br /> of the sums secured by this Security Inst�vment by reason of any demand mado by t1�e original Borrowcr or Aorrower's
<br /> successors in interest. Any forbearancc by Lender in exercising any right or remedy shal! not bc a waivcr ot'or preclude the
<br /> exercise of any right or remedy.
<br /> 12. Successors pnd Assigns Bound; Jotnt anci Sererai Liabiiiiy; �:.u-�igunrs. Tiic ca�era�is ard wgr�:re^ss of this
<br /> Security Instrument shall bind and beneCit the successors and assigns of Lender nnd Borrower, subject to the provisions of
<br /> paragruph 17, Aorrower's covenants and agreements shall be joint snd several. Any Borrower who co-signs this Security
<br /> Instrument but dces not execute the Note: (a) is co-signing this Security Instniment only to mortgage, grant and convcy that
<br /> Bonower's interest in the Property under the terms of this Security Instru►nent: (b)is not persunally obligated to pay the sums
<br /> secured by this Security Instrument; and(c)agrees that L.ender and any other Borrowcr muy agree to extend,modify,forbear or
<br /> make any accommodations with regard to the terms of this Security Instrument or thc Note without that Borrower's cansent.
<br /> 13. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum toan charges,
<br /> and that law is finally interpreted so that the interest or oiBer loan charges collectcd or to bc collected in connection with the
<br /> loan exceed the pertnitted limits, then: (a) any such loan c�arge shall be reduced by the amount necessary to reduee the charge
<br /> to the permitted limir and(b)any sums alreudy callected(rom Borrower which exceeded permitted limits will be refundai to
<br /> Borrower, Lender may choose to make this refund by reducing thc principal owed under the Note or by making a direct
<br /> payment to Borrower. If a refund reduces principal, tl�e reduction will be treated as a partial prepayment without any
<br /> prepayment charge under the Note.
<br /> lA. Notkes.Any notice to Borrower provided for in�his 5ecurity Instntment shall be given by delivering it or by mailing
<br /> it by first class mail unless applicable law rcquires use of enother method, Thc noticc shali be directed to the Property Address
<br /> or any other address Borrower designates by notice to Lender. Any notice to L.ender shall be given by first class mail to
<br /> Ler�der's address statcd herein or any othcr address Lcnder designates by nutice to Bo:rowcr. Any notice providr�cl for in this
<br /> Security Instniment shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph.
<br /> 15. Governing Law; Severability. This Security Instrument shall be govcrncd by fcdernl law and the Isw of the
<br /> jurisdiction in which the Property is located, in thc evcnt that any provision or clnuse nf this Security Instn►ment or thc Note
<br /> conflicts with applicuble law, such conflict sliall not affectoti-icr provisions of this Security instrument or the Note which can be
<br /> given effect without the conflicting provision. To this end thc provisions of this Security Instrument and the Notc arc dcclaral
<br /> to be severable.
<br /> 16. Borrower's Capy.Borrower shall be given one confor►ned copy of the Note and of this Security Instrument.
<br /> Form 3028 9/80
<br /> Page 4 of B
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