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<br /> •• 7. PPff40P.QI0Yi O'! LOPi6�OP�0 RI�{i20 IIl 4�10 PPOpot�. If eorro►•rcr Ialis tn pMom�tho covsncnt�cnd aprcarocnt3 conte:icd In thls
<br /> Sccurlty Inntrumcnt, or thcro Is n logal procccding thut may nl�nifleanity aticct Lcndcr'o rlphto In tho Property (ouch n3 n procecd:r�p In
<br /> banlwptcy, probato, for aondcmnatlo� or(ortclturo or to cTiorco I�e�a or rcgu'a£lonn�,ihcn Lcndcr m�y do and pay for�vhntcvcr la nctasr,c�y
<br /> � to protect tho value o}the Property and Lsnder's Hphts In the Property, Lender'e actlons may Include paylnd eriy aums eecur�sd by e ilen
<br /> whlch hae prlarlty over thls 3ecurity Instrument, ep�ee�dnp In courl, p�ying rnaonable attomey'a teea nnd enterinp �n tho Froperty to mtke
<br /> repalre. Althouph Lender mey teke sctlon under thls paraQreph 7,Lender does not havo to do so, �
<br /> , My amounts disbursed by Lender under thia paragraph 7 ehell become aald�tlonal dnbt ot BoROwe►eecured by thl9 Securlry Inatrument ,y,��.,,:�
<br /> �• . Unleae BoROwer end Lender epree ta other term� of peyment, those emounle shaA bear tntereat hom the d�te of dieburaemont �t lhe NoU �+�`�•::.
<br /> nnt�and eNall bo�aynblo, ��rlth Intcrc�t ��on notico irom Lcndcr to Hortovicr rc�ucsllnp p�ymcnt.
<br /> � 8. Mortq�ga In�urana�. Ii Lender roqulrod mortgage Inaunnce�a� condition of making the lom eewrW by thla 8�cutity �%�.--�u
<br /> ° Instmment, Bortower ahall psy the premluma requlrod to m�int�in the mortgage Fnauntnce In ettoct. If,tor eny reaeon, the mortg�ge Ueuranc� -`-:°
<br /> covemge required by Lender lapses or ce�ae� to be In ettact, Dor►ower shatl pay the promluma roqu�ed to obtdn covenge aubsuntl�Mr �;;;;;
<br /> equNolent to tho mortgape Ineurance provlouaty In oflect,at a cost eubstantta7y equivalent to the cost to Borrower of the martgege Ineumnce '�r��
<br /> �.�.-
<br /> prevlousty in eitect, ftom en nitemete maftgage Insurer epproved by Lenoec 1?substantlally equlvalent mortgage Insurenca cavenge Is not �`•
<br /> 4�w'ti.-
<br /> avnileble, Borrower ahall pny to Lender each montl� a suM o�ual to ane-twe(fih of the yeady mortgape Insurance premlum bdnp pald by � �'
<br /> :;y,
<br /> Bortower when the Insurance coverago lapsed or ceased to be In ettect. Lender will accept, use and retetn these paymonta as a loaa '.'?'-'�
<br /> reserve in Ileu of mortgage Insurance. Loas resserve payments may no longer be requlred, at the optlon ot Lender,If mortgage Insurance ;�;:��--
<br /> covemgo(In the aroount and for the pedod that Lender requlres)provlded by an insurer epproved by Lender aga�n becomes avaNsble end Is �"��.=
<br /> obtalned, Bortower shall pey the premluma required to malntaln mortgage Insurence in ettect, or to provido a Ioss reserve, untii tha �'�,w�,_
<br /> i�s.�_._
<br /> requlrement for martgage Insumnce enda In accordance with any w�itten agreanent between B�rrower and Lende►or appGca6ta law. �---
<br /> � 9. Inep8CtloD. Lender or Its aflent may make reasoneble entdos upon and InspecUons of the Property, Lender ah�ll 8ve Borrower -�`'-`"'
<br />�. nolice at the Nme oT or prior to an inspectlon spocifying roasonable cause for th e(nspacllon. ��
<br /> " 10. Condemna3ion. The proeoeds �t any award or ctaim for demeges, direct or consequentiai, In conneaUon vsikh �ny �'- ��
<br /> candemnntion or other taWng of any part of the Property, or for conveyance h leu of condemnatlon, ere hereby asalgned and shnll be paid �
<br /> to Lender. --_
<br /> . In the event of a total taking oi the Property,the proceeds shell be aQpped ta the suma aecured by thla Security Inatrument,whether or —
<br /> not ihen due, with any excoas paid to Bortower. In the event ot a paNal takinfl o}the Property In which the fair mar�CIIt value of the Property -
<br /> Immadiutely betoro the teking is equal to or greater than the amount o(the sums secured by this 3ecurity InatrramenY immedlately betore the
<br /> taWnp, unloss Dorrower nnd Lender othenviso agree In wdting,the aums secured by thla Securfty Instrument eha�ba reduced by ihe amount
<br /> � of the proceeds mulUplied by the following fraction: (a) the totel amount the of sums seaured ImmedlatAfy beforo the taking, dNldod by @)the ��
<br /> falr maricet valus of the Property Irnmedlately before the taking. Any balance ahal be paid to Borrower. In the event af a�rartl�l takktp ot the —
<br /> Property In whlch the talr market vaiue of the i'roperty immedlately before lhe taWng Is loso then the emount of tho eums secured ImmediatNyr —
<br /> beTore the taking, unlesa BoROwer and Lender othetwise agree in writing or untesa oppllcable law otherwiao pravldes,the proceeds ahaH be �
<br /> epplled to the aums securad by thls 3ecutity InsUument whether or not the sums are then due. ���
<br /> I}the Property Is ubandoned by Bo►ro�ver,or if, after notice oy Lender to BoROwer that lhe condomnor oNero to mekm an award or aettie '-�='��
<br /> a clalm for damages, 5orrower falls to respond to Lender within 30 days after ih e date the notice Ia pivon, Lender Is authorixed to collect and
<br /> appty the proceeds, at Its option, either to restoration or repair ot the Properly or to ihe suma secured by thla 3ecurily Inatrument, whether _
<br /> or not then duo.
<br /> Unless Lender and Bortower otherwise ngree In writing, any epplicatlon oi proceeda to principal shall not extend or postpone tha dua
<br /> dato of the monthly payments referred to in paragraphs 1 and Z or change the amount of such paymenta. �,�.-
<br /> 11.Borrower Not Releasod: Farbearanee By L.ender Not a 1Melver. Extonslon of tho tMe far payment or modiflcaUon
<br /> , of amortlzaUon of the aums eecured by thla Securiry Instn�ment granted by Lender to any succosaor In Interest of Bortower ehnll not opemte .,r.
<br /> to rdease the Ilability o}the original Borrower or Bortower's succeseors In Inlerest. Lender shall not be requlr�d to commenco proceeding�
<br /> agalnst any succesaor In Interest or retuse to extend time tor payment or otheiwlse modHyr emortlzaUon of the sums secured by thls 3ecurity �
<br /> �� Instrument by reason of any demand made by the orlginal Bortower or Barower's successors In Interest. Any foubenra�ce by Lender In !�:°�'
<br /> exercising eny�Ight or remedy shall not be e walver of or preclude the exerclse of eny right or remedy. �_-
<br /> 12. Successora and Asslgns Bound; Jolnt end Several Uability; Co-slgners. The covenants and egreemmte of s •�='
<br /> thts Socurfty Instniment shell bind nnd benefit the successors end asaigna of Lender and Borrower, subJect to the provtsions of paragraph ' �'' �
<br /> 1T. BoROwer's covenants end agreements ehell be Joint and several. My Bortower who co•stgns this Secu►iry InsUume�it but does not �r�
<br /> oxecute the Note: (a)Is co•slgning thls Security instrument only to mortgage,grant, nnd convoy thet Borrower's Intorest In the Property under '
<br /> � the terms of this Securily InsVument (b) Is not personalty obliguted to pay the sums secured by thla Securily InsVUment; end(o) egrees that
<br /> Lender and any other Bonower may egree to extend, modity, forbear or mnka eny eccommodaUone wRh regard ta terms of thls 3ecurity
<br /> InsWment or the Note wkhout that Borrowor's consent.
<br /> 13. Loan ChaPgee. Ifthe loan secured by this Securiy Instrument Is subJect to a law which soto maxlmum loan cherges, nnd that
<br /> law Is ftnaily Interpretod so that tho Interest or other loan chargos collacted a to bo coliected in cannection wiih the loan oxceed the ' �,
<br /> permilted Ilmita,then; (a) any such loan charges shall be reduced by the amounl necessary to reduce the charge to the permitted Omih and �
<br /> ' Ny any sums already coilected from Borrower whlch exceeded permiried Iimhs will be refunded to Borrower. lender mtty chooso to make
<br /> . � ihis refund by roducing the prtncipal owed under the Note or by making e direct payment to Bortower. ii a retund reducos princtpal, the
<br /> � reduction�viil bs treated es a pertlsl prepnyment wRhout eny prepayment chargs under tha Note. �
<br /> 14. NOtiCeB. My notice to Borrower provlded tor In this Security Instrument shail bs given by delivering it or by mailing It by firat I
<br /> class mail unlese applicabie law requlres uae of another method. The notico aha� bo diractad to the Property Address or any other addross I
<br /> Borrower doslgnatos by noUce to Lendar.My noUce to Lender shali be givm by tiret class mail to Lender's address stated herein or nny i
<br /> other address Lender dosignntos by notico to Borrower. My notice provided tar In thls SecurYy Instrument shall be deemed to havo been ,
<br /> given to 6ortowcr or Lender when glven es provided In this pnrngmpN, ;
<br /> , 15. Qoverning l.aw; SeVeYeblllty. This Securiiy Instrument shaN he govemed by federal Inw and tho law of the JurisdicUon In
<br /> which the Property fs locnted. In the evont thnt any provislon or cinuse of thls Security in�trument or tho Note confilcts �vlth npplicnble law,
<br /> such conflict sha!I not eifect other provislons of thls Security Instrument or tho Noto whlch can be ghren eifect without tho conn{eting ;
<br /> provlslon. To thls end the provislons ot thls Security InsWment and tho Noto nra dec�ared to bo sovomblo.
<br /> ._ 16. Borrower'R Copy. Bortower shall be gNen one confortned conv of the Noto and ot this Socurltv Instn,mant
<br /> �� 1 17. Transfer of the ProporQy or a Bone4icial Int�rest In Borrawer. If ell or nny part of tho Property or any Interest in
<br /> Ift is sold or trnnslerrad (or if a benofidal interast In Borrower Is sold or trc�nefcrred nnd Bortower Is not a notuml person) without Lender's
<br /> � prior written consent, Lender may, n4 It3 option, roqulro Immedlato payment In tuG of�II sums secured by thls Security Instrument. Flowever.
<br /> . ' this optton shnll not bo exurclsed by Lender It oxercfso Is prohibitod by faderal law as ot the dnto ot thts Sacurity Insteument.
<br /> If Lender exercisns this option. Lender shull givo BoROwer nottce of aca��ratlon. Tho notico shall provldo a period of not loss thnn 30
<br /> duys irom tho date tho notice Is delivered or mailed within whlch tho Bonower must poy niI sums securod by thls SQCUriry Instrument. II
<br /> Bortower lails to pay those sums prior to tho oxplrution ol this perlcd.Lender may Invoke any romudios permittr_d by thls Security Instrument
<br /> without turther notJce or damend on Borrowor.
<br /> I F�rm 302d 9/90
<br /> . � F4009.LM0 19/91) Page]ol 5
<br /> �
<br /> � 94108
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