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<br /> �substnntially equivalc � gb insarance covcrage is iiot uvuilublc,Borrowcr shnll pay to Lcndcr ench month a sum cqwil to
<br /> ' one-twelf,th of the ye ly rt�age�in!iu'�ance promium bcing paid by Aorrower whcn t6c insurancc covcru�c lupscci or ceuscd to .�,_,
<br /> , be in e(fect,I:cAder a c t`;��eYlntl retxin these puyments us u loss reserve in lieu of mortgage insurancc. l.oxs reserve �
<br /> pwyments mup no longer •rey id,'�t'tRC'option of i.ender, if mongage insurunce caveruge(in the nmount und ti�r the period �
<br /> thut l:c�icr rcquires)provided by un insurer upprovecl by Lcnder again bccomcs uvailable und is obtnincd. Borrowcr shull pny �
<br /> thc prcmiums rcquircd to maintuin mortgagc insurancc in cffcct,or to providc:►loss rescrvc. until thc requircmcnt for mortgugc f
<br /> insurnnce eixis in accorJance wi�h,�ny wntten ugrc:ement between Borrower ni�d I..enderor upplicnble law.
<br /> 9, Inspe�clton. l.ender�r its ugcnt may make reationublc:cntrics upon and insputions of the Property. Lcnder shnU givc M
<br /> Bnrrowcr noticc ut thc timc of or prior to an inspcction s{xcifying rc.isonablc causc 1'or ihc inspection.
<br /> 10, Condemnatlon. Thc procccds of nny award or claim fr,� dnrrmges, dircct nr conticqucntiid, in conncction with nny �
<br /> condcmnation or othcr taking af uny pun ��f thc Property,or for convcyuncc in licu of cundcmnation, iirc hcr�by �itisigned und
<br /> sli�ll bc puid to Lendcr.
<br /> ln thc event of a tatul[uking of the ProEx;r�y, �he pruceecls shall bc upplicd to the sums sccurcd by this 5ccurity Instrumen�, �
<br /> whcther or not then due, with any cxcess puid to Horrower. In thc cvcnt of'�i p��rtial inkinb ot'[hc Property in which thc.fuir .�
<br /> mnrkct vnluc of Ihc Property immcdiatcly bcforc thc taking is cqunl to or grc.ucr th.�n thc iimount nf tlic yums sccurcd by thir
<br /> Security instrument immediately bcforc the taking, unlcss Borrower und l.ender othcrwise ngrcc in writing,the sums tiecured by
<br /> this Security Instrurnent shall be reduced by the amount of the proceeds mulliplied by the following 1'ruction: (a) thc totul
<br /> amount of the sums sccured immcdi�tely before thc tuking, divided by (b) the fair market value af thc Property immediutely
<br /> before the taking. Any balance shull be puid to Aorrower. In the event of a partial taking of the Property m which the fair
<br /> market valuc of the Property immaiiatcly before tlie taking is less than thc amount of the sums securcd lmmalintely hefore thc
<br /> taking, unless Borrawar nnd Lender otherwise agree in wnt�ng or unless applicnble luw otherwise provides, thc prceeals shall
<br /> be upplied ro the sums secured by this Security Instrument whether or not the sums ure then due.
<br /> If the Property is ubandoned by Borrower,c�r if, uRer notice by Lender to Dorru�ver th�it thc condemnur uf(crs to muke an
<br /> award or settle a claim for damngcs, Borrowcr fnils to respond to Lcndcr within 30 days uRcr thc Jatc thc noticc is given,
<br /> I.ender is uuthorized to collect and lpply the proceeds,at its option,either to restoration or repair nf the Propeny or to the sums
<br /> securcd by this Security Instrument, whether ar not thcn due.
<br /> Unless L.ender and Borrower otherwise ngree in writing, any application of proceeds to prineipal shull not extend ar
<br /> postpone the due datr,of the monthly payments referred to in parugruphs 1 end 2 or change the amount of such paynnents.
<br /> 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or mcxiificution
<br /> of amortization of the sums securcd by this Security Instrument grantcd by I.ender to any successor in intetest ot Borrower shall
<br /> not operatc to relcase thc liubiliry of thc original Borrower or Borrawer's succcssors in intcrest. Lcnder shall not be required to
<br /> commence proceedings against nny successor in interest or refuse to extend time for payment or otherwise modify amortization
<br /> of the sums secured by tl»s Security Instrument by reason of any demand made by the original Borrower or Borrower's
<br /> successors in interest. Any forbearance by I..ender in exercising any nght or remedy shall not be �waiver of or preclude the
<br /> exercise of any right or rcme.dy.
<br /> 12. Successors and Assigns Bound; Jotnt end Several Liabllity; Co-signers. The covenunts and agreements of this
<br /> Security Instrument shttll bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of
<br /> paragraph 17. Borrower's covenants and agrcements shall be joint and several. Any Borrower who co-signs this Security
<br /> Instnunent but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that
<br /> Borrower's interest in the Property under the tcrms of this Securiry Instrument; (b) is not personally oblig�ted to p�y the sums
<br /> secured by this Security Instrument; antl(c)agrecs[hat I.endcr uncl any uii�ai Bar�ow�r may agrc;,ia cx.c^�, n:odi;�, ferb:^C^f
<br /> mnke uny uccommodations with regard to the terms�f this Security Instrument or the Note witliout that Borrower's consent,
<br /> 13. Loan Charges. If the loun securcd by this Security Instrument is subject to a law whicli sets maximum loan charges,
<br /> and that law is finally interpreted so thut the interest or ather loan charges collected or to be collected in connection with the
<br /> loan exceed the permittcd lintits, then: (a) miy such loan churge shall be reduced by the amount necessary to re�.iuce the charge
<br /> to the permitted lirnit; and (b)any sums already cotlected from Borrower which excceded permitted limits will be refunded to
<br /> Sorrower. Lei�der may choose to m�ke this refund by reducin� the principnl owed under the Note or by muking n direct
<br /> payment to Borrower. if a refund reduces prinripal, the reduction will be trcated as a parti:�l preplyment without nny
<br /> prepayment chfrge under the Note.
<br /> 14. Notices. Any noticc to Borrower provided for in this Security Instrument shall be given by delivcring it or by mailing
<br /> it by first class muil unless applicuble law requires use of another►nediod. The notice shall be directed to the Property Address
<br /> or any other address Borrowcr dcsignatcs by notice to L.i:ndcr. Any noticc to L.endcr slinll bc given by first class mail to
<br /> Lender's address statcd licrein or uny other address L.cndcr designatcs by noticc to Borrower. Any notice provided for in this
<br /> Security Instrumcnt sliall bc dccmcd to havc becn givcn to Borrower or Lender when given as provided in this paragraph.
<br /> 15.Governing Luw; Severability. This Securiry Instrument shall bc governed by federal law and the law of the
<br /> jurisdiction in which the Properry is locatecf. in the event thut any provision or clause of this Security Instrument or the Note
<br /> contlicts with applicable law,such conflict shall not affect other provis�ons 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 Instrumcnt and the Note arc declured
<br /> to bc sevcrnblc.
<br /> 16.Borrox•er's Copy. Dorrower shull be given one ccnformed copy of the Note and of this Security[nstrument.
<br />- 17.Trs�nsfcr of the Property or a Beneficial Inter�st +n Borrowea If all or any part of thc Property or any intcrest in it
<br /> is sotd or transferred(or if a beneticiul interest in Borrowcr is sold or transferrcd and Borrowcr is not a natural person)without
<br /> Lender's prior written consent, I.cnder mtiy, ut its option, require itmnediate payment in full of all sums secured by this
<br /> Security Insteument.However, this aption shall not be exerciseci by Lender if exercise is prohibited by fecleral law as of the date
<br /> of this Securiry Instrument. '
<br />; If[.ender cxerciscs this option, L..cnder shall givc Borrowcr notice of accelcration. The notice shall provide a period of not
<br /> Icss than 30 day� from the date the notice is deliverui or mailed within which Borrower must pay all sums secured by this
<br /> Security Instrument.Tf Borrower fails to pay thesc sums prior to thc cxpiration of this period, Lcndcr may invokc any remcdics
<br /> = pennitteJ by this Sccurity Instrument withoul further notice or demand on Borrower.
<br /> - 18. 13orrower's Right to ReinstAte. If Borrowcr mcets ccrtain conditions, Borrowcr shall have the right to havc
<br />= cnfarecment of this Security Instrument discontinued at any timc pricx to the earlicr of: (a) 5 dnys (or such other period as
<br /> applicublc law may specify for rcinstatcment) before salc of the Property pursuant to any po�vcr of salc contained in this
<br /> Securiry Instrumenr,or(h)enhy af a judgmcnt cnfe�rcin�,this Securi�y Instrumcnt. Those ronditions are that Norrowcr: (a)puyti
<br /> - Lcndcr all �ums which thcn wuuld bc duc unJcr this Scrw'ity xnsuument und tlic Nutc as if nu.tcccicration had occurrcd; (h)
<br />� cures any default of any other c:ovenants or agreements; (r) pays all expentics incurreci in eni'orring thi, 5ccw•ity Instrument,
<br /> inrluding, but not limitcd to, reasonahle attorneys' fces and(d) takes such action as Lender may raisonably reyuirc to assurc
<br /> y that thc licn of this Security Instrumcnt, Lender's rights in the Property and Borrower's obligation to pay the sums securcd by
<br /> � this Sccurity Instrumcnt shall rontinue unchangecl. Upon reinstatemcnt by Borro�ver, this Securiry instrumcnt and thc
<br /> � obligations secured hereby shall renuiin fulty effective as it no ucreleration h��d occurred, However, this right to reinstate shall
<br /> I1ClI apply in thc casc of:ICCC�C�fltlOfl U11t�C1'�aragraph �7. � .�� *�..�„ ��....,��h..r avith thic Crruritv
<br /> ; �9. 511�C Ot Note; �,IIAII(�L' Of LOSIII JCI'V1CC1'. l Ill' IVOiI: uI tt ji�iPiiiii ii�i�Ta.b�:.. .��.. ......, v�o�...-- ..^.- ^'•- --'--'-•
<br /> � Instrwiient) may be sold one or more timcs without prior noticc tu Borrower. A sute may result in a change in the entiry(known
<br /> as thc"Luan Scrviccr")that cc>Ilccts monthly pa��mcnts Juc undcr thc Notc and this Sccurity Instrwncnt.'fhcrc also may bc onc
<br /> - or more changes of Ihe Loan Scrvicer unrelatuf to a sale of the Note.If there is a change uf thc I.oan Servirer, Borrower will oc
<br /> - given writtcn nntire i�f the rhange in accordance�vitn paragraph 14 abovc and applicablc law. 'fhe notice will state the name and
<br /> ciddress ul' the ncw Loan Servicer and thc address to �vl�ich payments should be �n�nle. 'I'he nenicc will also cunhiin :+n)�uthcr
<br /> inforntatiu�z reyuircJ by applicahlc la��•.
<br /> � 20. Hn�•rairduus Substunces. I3un�o��•cr yhall nc�t �ause or permit the prescnre, use, dispus.il, stora�c, or release of any
<br /> Har.ardou� Subst�uxcs un ur in thr Pruperty. Borruwcr ahall nut do. nur allow anyonc clsc to du. :mything af(ecting thc
<br /> � • Pruperty that i> in�•icilatiun of.in}� Em•ironmcntal La�v. '1'I�c prcrcJinE t�vci ,cntcnccx sliall n,n apply to thc prescnc:c. uac, or
<br /> ,torabc un thc I'rupert�• ut'�nr,dl yu.mtiti�s i�f Haiardous 5ub�tunrc` thal arc gcncrally rccu�.nitcd t�� hc apprupriatc tn nurmal
<br /> rctiidcntial uu+and to maintcnanrc uf thr Pruperty.
<br /> P.�,�„3,,,, Form 3028 9/90
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