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<br /> puyments tnay no lunger be required, nt the option of Lcndcr, if mortbagc insurancc covcrugc(in thc amount and for the period
<br /> that I.crxler rtyuires)provided by un insurer uppmvcd by I.endcr ugaln becon�cs available and is obtaincd. 8nrrowcr shall pay
<br /> thc premiurns required io nmintuin mortgege insurance in effcet,or t�providc n lo�;s rescrvc,until Qhe requirement for mortbage
<br /> in,urance e�xls in uccorJance with uny;vritten ugreement tx�twecn Ei�rrower and l.endcr or�pplicable Iz►w.
<br /> 9. In�pc�lbn. I.encler or itc ugent mny make reason�ble cntries upon uixl inspections of the F'roperty.I.cnder shall givc
<br /> &�rn�wcr notic�at thc limc of or prior to aii ins�x;ction spccifying rcu�anablc causc for ihc inspcctinn.
<br /> IU. Cnndemni►tlon. The procecvls of any award or cluim f��r dumuges, direct ar r�msequcntial, in c��nnection wi�h any
<br /> cimdcmnatiun or othcr lukiog uP any part of'thc Nroperty. or tiir convcyanrc in licu uf condcmnation. arc hcrcby assigncd and
<br /> Shall t►c paid tu l.cixitr.
<br /> In thc cvcnt of a tata!taking aC thc Propcnl�,thc procccds shal! bc applitd to thc sums scrurcd hy thiti Scrurety InstrumcnL
<br /> whethcr o� ix�t Ihcn due, with any excess puid to Borrower. In thc cvcnt of a paniul taking uf thc Pmperey in which thc fair
<br /> nu�rket valuc uf the. �'roperty imnxtiiiately beforo the taking is cquul to or greater ihan the umount of the sums secured hy this
<br /> Security lnstrunknt inmiecliately before the taking, unless Dorrower and Lender utherwise agree in writing, thesums secured by
<br /> this Security instrument shall be rcduced by the amount of thc prcxccYis multiplicd by she following frac�ian: (a) the totnl
<br /> amount of thc sums secured immcdiately before the taking,dividcd by (b) the fair market value of thc Propeny immcdintely
<br /> beforc the t�ing. Any balance shull be paid to Borrower. In thc c��ent of a panial taking of the Property in which the fair
<br /> murkct valuc of the Propeny immediatcly before the takin�is Icss thxn thc anxwnt c�f the sunu scwrecf immediatcly bcfore the
<br /> taking, unless Horcower a�xf Lencier utherwise agree in writing or unless applirable law otherwise provides.ihe proceeds shall
<br /> be applied to the swt�s secureci by this Security Instrument whcther ar not the sums are then due.
<br /> If the Propeny isa6aixloned by Borrower,or if,after notice by Lender to Borrower that Ihe condemnoroffers t� make an
<br /> award or settle a claim for damages, Borrower fails to respond to Lender within 30 days ufter the date the notire is given,
<br /> Ixnder is authorized to collect ancl apply the prceeeds,at its option, cither ro restoration or repair of the Property or to the sums
<br /> secured by this Security Insttun�ent,whether or not then due.
<br /> Unless L.ender and Borrower otherwise agree in writing, any �pplication oF proceeds to principal shall not extend or
<br /> postpone the due date of the monthly paymer�ts referred to in paragraphs 1 and 2 or chahge thc amount ol'su�h payments.
<br /> 11.Borrower Not Released; Forba�rance By Lender Not s�Waiver. Extension of Ihe time for payment or modi�cation
<br /> of amortization of the surns secureci by this Security Instrument granted by Lender�o any successor in interest ofi Borrower shall
<br /> not operate to release�he liability of the original Horrower or Borrnwer's successors in intercst. Lender shall not be required to `
<br /> commence proceedings against any successor in interest or refuse ro exte►xl time for payntent or otherwise modify amortization
<br /> of the sums secured by this Security Instrumr.nt by reason of any dem:snd made by the original Borro�er or Borrower's
<br /> successors in interest.Any forbearance by Lender in exercising any right ar remedy shall not be 1 waiver of or preclude the
<br /> exercise of any right or remeciy.
<br /> 12. Successors tnd Assigr�s ilound; Joinl and Severxl I.is�bllity; Co-signers. The covenants and agreements of this
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<br /> �uriiy Inai�wucni aiwl? ui��S :u�f i�euriii ii�e auccea�ur� :uw :uaiKu� ui Lciiuci uiiu aw��.,..c�. ;t;�j�C: p:�.:s:...... ..
<br /> paragraph l7. Eorro�tr's cuvenants arid agreements shall be joint and several. Any Borrower who co-signs this Security
<br /> Instrument but dces not execute the Note: (a) is co-signing this Security Instrument only to mortgase,gcant and ennvey th�t
<br /> Borrower's interest in ihe Property under the tertns of this Security Instrumenr (b)is not persor�ally obligated to pay the sums
<br /> securcd by this Security Instrument;and(c)sgrees that Lender and any other Borrower may agree to extend.modify,forbear or
<br /> malce any accommociations with regurd to the tem�s uf this Security Instrument or the Note without that Borraw�er's consent.
<br /> 13.Los�n Chaa�ges� If the loan secured by this Security Instrument is subject to a i�w which sets maximum loan charges,
<br /> arxi that law is fin:iliyinierpreted so that the interest ur other loan charges coElected or to be collected in cannection with the
<br /> :oan exceed the permitt�xl limits, then: (a)any such loan charge shall be redured by the amount necessary to reduce the charge
<br /> t�the permitted limir,and(b)any sums already eolleeted from Bocrower which exceected pertnittec! limits will tx refuncled to
<br /> Borrower. L,encier rnay choose to make this refund by reclucing the principal owed under the Note or by m:►king a direct
<br /> payment to Bnrrower. If a refunc! recluces principal, the reduction will be treated as a partial pr�payn�ent without any
<br /> prepayment charge under the Note.
<br /> 14.1�lutices.Any notice to Borrower provided fur in this Security Instrument shaft be given by delivering it or by mailing
<br /> it by first cl�ss mti[ unless applicable law requires use of another method.The notice shall be directed to th:Prvperty Address
<br /> or any other address Borrower designates by notice to Lender. .Any noticc to Lender sliall be given by first cla.ss maif to
<br /> [,ender's address stated kierein or any other address Len3er designates by notice to Borrower. Any notice provided for in this
<br /> Security Instrument sh�ll be deemed to have been given to Borrower or Lencier when given as provided in this p:►ragraph.
<br /> I5.Governing Ixw; Sevrrybility. This Security l�utrument sh:ill be governed by federal law :uid the law of the
<br /> jurisdiction in which lhe Property is located. In the event that any provision or clause of this Security Instmment or the Note
<br /> conAica with applicable law. such cuntlict sh;ill not affect other provisions of this Security Ir.strument or the No[e which ca�i be
<br /> given efCect without tlx conflic[ing pruvision. To this end the provisions of this Sec:urity Instrument and the Note are declared
<br /> to be severable.
<br /> 16.Borrower's Copy.Borruwer sh.il[te given one conformed cupy uf the Note and of this Security Instmment.
<br /> Form 3028 9/90
<br /> Pape S oi 6
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