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<br /> � payments may no longer be required, at the option of Lender, if mortgage insurance coverage(in the amount and for the period
<br /> that Lender requires) provided by an insurer approved by Lender again becomes available and is obtained. Borrower shall pay
<br /> the premiums required to maintain mortgage insurance in effect, or to provide a loss reserve,until the requirement for mortgage
<br /> insurance ends in accordance with any written agreement between Bonower and Lender or applicable law.
<br /> 9. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give
<br /> Bonower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br /> 10. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br /> condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and
<br /> shall be paid to Lender.
<br /> In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument,
<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 value of the Property immediately before the taking is equal to or greater than the amount of the sums secured by this
<br /> Security Instrument immaliately before the taking, unless Borrower and Lender otherwise agree in writing, the su�s�by ,.
<br /> this Security Instiument shall be teduced by the amount of the p�s multiglie�l by #ha.Polllow�ng �d�`�'�) f�e�.t�t`-Y " �.,�
<br /> amount of the sums secured immediately before the taking, divided by (b) the fair markec value of the Property immediately '
<br /> before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair
<br /> market value of the Property immediately before the taking is less than the amount of the sums secured immediately before the
<br /> taking, unless Bonower and Lender otherwise agree in writing or unless applicable law otherwise provides, the proceeds shall
<br /> be applied to the sums secured by this Security Instrument whether or not the sums are then due.
<br /> If the Property is abandoned by Bonower, or if, after notice by Lender to Borrower that the condemnor offers to make an
<br /> awazd or settle a claim for damages, Bonower fails to respond to Lender within 30 days after the date the notice is given,
<br /> Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums
<br /> secured by this Security Instrument, whether or not then due.
<br /> Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br /> postpone the due date of the monthly payments refened to in paragraphs 1 and 2 or change the amount of such payments.
<br /> 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification
<br /> of amortization 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 Bonower or Bonower's successors in interest. Lender shall not be required to
<br /> commence proceedings 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 reason of any demand made by the original Borrower or Bonower's
<br /> successors in interest. Any forbeazance by Lender in exercising any right or remedy shall not be a waiver of or preclude the
<br /> exercise of any right or remedy.
<br /> 12. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of this
<br /> Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of
<br /> paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security
<br /> Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that
<br /> Bonower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums
<br /> secured by this Security Instrument; and(c) agrees that Lender and any other Bonower may agree to extend, modify, forbear or
<br /> make any accommodations with regazd to the terms of this Security Instrument or the Note without that Borrower's consent.
<br /> 13. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges,
<br /> and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the
<br /> loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge
<br /> to the permitted limit; and (b) any sums already collected from Bonower which exceeded pemutted limits will be refunded to
<br /> Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct
<br /> payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any
<br /> prepayment chazge under the Note.
<br /> 14. Notices. Any notice to Borrower provided for in this 5ecurity Instrument shall be given by delivering it or by mailing
<br /> it by first class mail unless applicable law requires 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 Lender shall be given by first class mail to
<br /> Lender's address stated herein or any other address Lender designates by notice to Bonower. Any notice provided for in this
<br /> Security Instrument 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 governed by federal law and the law of the
<br /> jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note
<br /> conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be
<br /> given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declazed
<br /> to be severable.
<br /> 16.Borrower's Copy. Bonower shall be given one conformed copy of the Note and of this Security Instrument.
<br /> Form 3028 9/90
<br /> �-6R�NE)192121.02 Page 4 of 6 Initials:
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<br /> 30284.frm 12/96
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