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. JUN.25.1999 11-26AM N RMERICAN MTG STL 9 9 1 Q S 5 9 4 N0.069 P.26
<br /> at the optiofl of Lender, if mortgage iasurance coverage (x� tb,e sruoun�t and �ax the �ritod t3xat Le�,der requires)
<br /> prdvided by an insurer approved by Lender a�ain becomas available afld i�obtained.Borrow'or shall pay'the premiums
<br /> reqtsired to msintsiu mottgage iASUSar�ce im offect,or to �rovide a loes re�erve, u�til the requirc�el�t for �ortgagd
<br /> ineuranca en�ds in a000rdance with a�y Nrit�en a�reemeanti betwe�n Horrawer ar�d Leudet ar applicable law.
<br /> 9. �nspection.Leader or its ageat�nay�make,reaaor�ble entrie�s upa�n snd inspactian�of the Property.Laider shall
<br /> give Borrower notice at the time of or prior to an ir�s-pection speCifying repsonsble cxuse for the inspection.
<br /> 1Q, Condemnation.The prooeede of any award or claim for da�nagae.dit�ect or consequeatiel,i�connectia�with
<br /> atly condemnation or other taleing of any part of the Property, or foP convaqanCe in lieu of oondemnation, are hereby
<br /> asslEned et�d shall be paid to Lender. �
<br /> In the evet�t o�n total taking of the�roperty, the prnceads ahall be applled to the sums seeured by this 3ecurity ,
<br /> Instrumeat,Whether ar aot t�en due,with any e�cess paid to Borrower,In the eveat oP a partial taking oP the Proparty ia
<br /> w+hich tha fs�r rnerkat vslue of tt�e P,rapgcty�,m,�e8ietely be#ore the taki�g�e equal ta ox p.rea�tbs,�tk�e e�ount af xhe
<br /> sums secuped by thie Secarity Instrument immediately before the taking, unleas Bonower snd Lender othetovise agtee
<br /> im writi�ag,the sums aecured by tfus Security Instrument ahall be reduced'iry the amount of the prac�eda multiplied by
<br /> the following fraction: (a) the total amount of the sums aecured immediately before the taking,divided by (b) the feir
<br /> mar�vaIue o#the Property immedistely befote the talcing. A�p balence shall be paid to Bonower. Tn the event of a
<br /> pArtial taleiag of the Froperty in which the fair market value of the Property immediately before the taking is lese than
<br /> the amaunt of the sums�cure8 innmediately before the takiag,unless Borrower and Le�ider otherwi�e agree in wx�ia�p
<br /> or unleas applicable law other'ovisc providts, the procxtls �hall be applied to the sums sccured by this Sxurity
<br /> Instrumeat whether or aot the suma are thez�due,
<br /> If the Prope�rty is aba�ndo�ed by�orrowet,ox��,sfter notice by Y.eader to�orrower that�e ooademaor o�fexs to
<br /> make an award or settle a claim for damages, Borrawer fails to respond�o Lender w�ithin 30 days after the date the
<br /> �ot�ce�s�ven,Lsnder ie authorized to collect and apply the prooeads,at its opt�on,eithar to restoration or repair of tha
<br /> prop�+z�ty or to fhe evxxxa secuted by this Security Ynsttument,whether or not then due.
<br /> T,Jsljes�J,emdet a�d$orrower otherwise agree in writing,any application of prooeeds to priacipal shsll not exte�d ox
<br /> postpona the due date pf tl,e s�oathly paymc�ats rei'erxed to ia paragraphs � end 2 or chsza�e the amou�nt of auo�
<br /> �aYmea�s.
<br /> 11. Bnnower Not Released; Porbe9rsnce Sy Lender Not a Wsiver. �xtensioa of �e tasne Pvr payment or
<br /> modtfication of amort{zetlon of tha sums eacurad by th�s Securlty Ynetrument grantsd by Lender to eay succcssox in
<br /> iz�tdredt of Borrowet �hall not opetate to release the liability of tlxe original Borrower or Bortowe�r'e succeseps� ix1
<br /> iaterest. Lsader shall aat be reqz�ired to comnneac� pmceeding�s agaix�st aay successor ia interost or relusa to osund
<br /> time for paymeat or otherwise modif�amortizati�n of the sums secvred by this Security Instrument by reason of any
<br /> de�amd made by th�original Boxrower or Sorrowc�'s succeseots �m�nterest,,Au�y�pxbasratxcc by X.ende�it�eaorci�iilg
<br /> any►right or s�ernedy shall not ba a waiver of or preclude tha egarcise of a�y right or remed�.
<br /> 1�. Sucoes&pTS and AsRxsns Hpnnd; roiat and Sevexal X.iabi�ity; Ca-sigttcxs.The cavcnants and agreexneats
<br /> a� t�is Security Instrumeat ehall l�aind and benefit the successore and sseigns of �dex st�d BpXrowex, subjact t,p the
<br /> provieions of p�ragraph 17.Borrower's covenants and agreementa shall be joint and several,Any Borrower wha oo-signs
<br /> this Security Instrument but daes nat exccute th�Note: (s) is oo�igniag thie S�urity �ns�x�u�e�t p�y to mortgage,
<br /> gras�t aad cor�vey t.�at $orrower's �uterest i�n the �mpexty undar the terms of thia Sacurity Iastrument; (b) is not
<br /> pereoaslly obligeted to pay the sums secured by t�s Seourzty I�strument;asld (c) agrees that Lender and aqy other
<br /> �oa�roweo�may agree tq extead,modi,fy,forbe�x ar ms�e aay acoommod.ations with regard to the terms of this Secvrity
<br /> Is�strusmant or tb�Nate wi,thouc tbat Bo�crower's co�nse,�t,
<br /> 13. Loaa Charaes. If the los�u secw�d bq this Securitp Instrument is aubject to a law which sets maximum loan
<br /> charges, end that Iaw is finally interpre#ed so that the interest or other �oat� cha�rge� collected or to be collected in
<br /> c�o�eot�o� witb the loaa eYOeed the pertnitted lim�ts, the�: (a) ar�y sucb, loan oharpe st�nll be reduced bp' the amount
<br /> aeoe�ssnry to rodUCe the ch�tge to the permitted Iimit; and (b) any aums already collccted fmm Bonowe� w�ick�
<br /> eaceeded permittad limita will be re�unded to Borrower, L,ender m.ay e�apse to make this tefund by reducing the
<br /> principal owed under ttle N'ote or by makit�g a diz'eet paynnet�t ta Barrawer.If a refunfl reduces principal,the reductioz�
<br /> wi11 be treated as a partisl px epayment without anp preps�►ment charge under the Note.
<br /> 14. Notices.Arry notiC6 to$orroa+'er provided for in this Security Instrument shall be givet�by deliveting it or by
<br /> mailitlg it by first class mail unless applicable law requires usc of anothcr nca,at,ti,od, Tho notice shall be directed to the
<br /> Prvperty Addreas or any other addresa Borrower designates by aoticae to L,eader.Any notice to Lender shall be given by
<br /> fir�c elass mail to L�ec�,der's address srated herein or any other addsese Lender designates b�r aotioe t� Borrower. ,A,ay
<br /> notice provided for in thie Security Inatrumcns sha11 ba dcemed t�ha�e bee�n givesi ta Borrowcr or T.endcr when given
<br /> as provided ia this paragraph.
<br /> 13. G�o'veraiag Law;Severability.Thig Seeurit�Instrumea�t aha11 be governed by fadaral law ar�d the le�w of the
<br /> jurist&iotio�is�which the Propertq ia located.In the eveat that eny provi�ion ar clauee of this 5ecurity�ua�trument or the
<br /> Note conflicts with applicable law,auch conflict ahal�z�ot a##eet other provisioas of this Security Instrument or the N'ote
<br /> which can be�vea eftect without the conflictin�pra�+ision.'To this end the provisio�a of thia Sacurity Ins�trument and
<br /> the Note are deelarad to be acverable.
<br /> Form '0 0
<br /> �—��LB�0710t Pyo 4 ef 6 Illltlilil
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