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<br /> payments may no longer be requircd, at thc option uf Ixnder, if mortgagc insurance cavcragc(in thc nmount and for thc period
<br />— that l.�nder requires)provided by an insnrcr approvedby Lcndcr agaiu becomes availablc and is abtained. Borrower shell pay _
<br /> '�=' ihe premiums require4 to maintatn inortgage insurance in effcct,or to providc a loss rescrve, until thc rcquirement for martgage
<br /> insurance ends in accordanee with any written agreemem between Borrower and Lender or applicable law.
<br />�..� 9. Inspectlon.Lesider or its agent may makc reasonable entrics upon and inspections of the Property. l.i:nder shall givc
<br /> � Borrower notice at tha ti nx of or prior to a�inspec[ion specifying reasonable cause for the inspection,
<br /> — 1Q. CondemnAtbn.The praceeds of any award or claim for dan�ages, dircct or conscqucntial, in connection with ��y
<br /> �"� condemnation or oth�r taking of any part of the Propeny,or for convcyance in lieu of condemnation, are hereby assigned and
<br /> � shall bc paid to Len�kr.
<br /> -= in the ev�nt of��otal taking of the Property,the procetds shall be applied to the sums scaured by this Sccuriry Instrument,
<br /> = whether or not then due,with any cxcess paid to Borrowcr. In the event of a partial taking of[he Property in which the fair
<br /> — market valuo of the Property immediately before the t�Cing is eyual to or greater than the amaunt of che sums secured by this
<br /> � Security Instrument Immcdiatcly beforc the taking,unless Borrower and l.ender othcrwisc agree in writing, thc sums securcd by
<br /> � this Security Instrum�nt shall be reduced by the arnount of the procceds multiplied by the following fraction: (a) the �o�al
<br /> � amount of the sum�secured immediately before che [aking, dividecl Uy (U) tlie fair market value of ihc Praperty immediatety
<br /> � before the taking. Any balance shall be paid to Borrower. ln the eveat of a partial taking of the Property in which the fair
<br /> " market value of the Property immediatcly before the taking is less than the amount of the sums secured im�ncdiately before the
<br /> — taking, unless Borrower and Lender otherwise agree in writing or unlcss applicable law otherwise provides,the procecds shall
<br /> ? be applied to the sums secured by this Security Instnament whether or not the surns are then due.
<br /> If the Pra}xrty is abandonul by Borrower, or if,after notice by I.ender to Borrower that the condemnor offers to mal:e an
<br /> award or settle a claim for damagcs, Borrower fails to respond to Lender within 30 days after the dlte the noticc is given,
<br /> Lender is authorizedio collect and apply the proceeds,at its option,either to restoration or repair of the Property or to[he sums
<br /> secured by this Security Instrument,whether or not ihen due.
<br /> -° Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />— postpone the due daia of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments.
<br /> y 11.Borrower Not Released;Forbesrance By I,endcr Not w Waiver. Extension of the time for payment or modification
<br /> - of amonization of the sums secured by this Security Instrument gra�ued by I.ender to any successor in interest of Bon�ower shall
<br /> = not operate to releau the liability of the original Borrower or Borrower's successors in interest. I.ender shall not be required to
<br /> - commence proceedings against any successor in interest or refuse to ex[end time for payment or otherwise modify amonization
<br /> of the sums secured by this 5ecurity instrument by reason of any demand madc by thc original Borrower or Borrowcr's
<br /> successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the
<br /> cxercise of any rightor remedy.
<br /> 12. Successon Rnd Ass(gns Bound; Joint and �everal Liabiliry; t=:o-signers. "i'ne covenanis �u1�I ag�C��iiaais of this
<br /> Security Instrumcnt shall bind and benefit thc succcssors and assigns of L.ender and Borrower, subject to the provisions of
<br /> paragraph 17. Borrower's covenants and agreements shall be joinc and several. Any Borrower who co-signs this Security
<br /> Instrument but does not execute the Notc: (a) is co-signing this Security lnstrument only to munga�e, grant and convey that
<br /> Borrowor's interest in the Propeny under the terms of[his Security Instrument; (b)is nat personally obligated to pay the sums
<br /> secured by this Security lnstrument; and(c)agrees that L.ender and any other Borrower may agrce to extend,modify, forbcar or
<br /> make any accommoduions with regard to thc terms of this 5ecurity Instrument or the Note without that Borrower's consent.
<br /> 13.Los►n Chiuges,If the loan secured by this Security [nstrument is subject to a law which sets maxiinum loan cliarges,
<br /> and that law is finally int�rpreted so that the interest or other loac►char�es collected or to be collected in connectian with the
<br /> loan excevl the pe�mitted limits, then: (a) any such loan charge shall be reduccd by che amount necessary to reduce the charge
<br /> to the permitted limit; and (b)any sums already collated from Borrower which excecded permitted limits will be rcfunded to
<br /> Bonower. I.ender may choose to make this refund by reducing the princlpal owed under the Note or by making a direct
<br /> payment to Borrower_ If a refund reduces principil, the reduction will be treated as a parttal prepayment without any
<br /> - prepayment charge under the Note.
<br /> 14.Notices. Any notice to Borrower provided for in tliis Security Inslcument shall be given by delivering it or by mailing
<br /> it by first class mail unless applicable law rcquires use of another method.The notice shall 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 /> I.ender's address stmed herein or any other address l.cnder dcsignates Uy notice to Borrower. Any noticc providcd for in this
<br /> — Security Instrumentshall be dcemcd to have becn given to Borrower or L.ender wltcn given as provided in this paragraph.
<br /> 15.Governing Law; Severabillty. This Security [nstrumcnt shall be governcd by federal law and the law of thc
<br /> = jurisdiction in which tlie Property is located. In the event that any provision or clause of t}tis Security Instrument or the Note
<br /> conflicts with applicable law,such conflict shall not affect other provisions of this Sccurity Instrument or the Note which can be
<br />—_ given effect without tize 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 Securiry InstCument.
<br /> - Form 3028 9/90
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