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<br /> ^ , •�`•'`� �`� payments inay no tonger be required.at the option of lxnder,if mortgage insurance rnverage(in the 3rnoant and for the period . � _
<br /> G <� • � } '� that L.cnder requires�Provided by aa insurer approveit by Lender again 6ecomes available and!s o6tained.Borro�ver stiall PaY . . -
<br /> , ;` t�: .; ths Qremituas required ta maintain mortgage insurance in effect,or to provide a loss reserve.until the requirement for mortgage �
<br /> . . - ' insuranre erids in accordance with any written agteement between Borrower and Lender or applicable law.' ;-<�;- _ -:_G � -
<br />_ - ' 9 I�ton.LQnder or iEs agent may make tsasoaab3e entries upan ai�inspc.�tions oY the Propecty. Ixc►�er sha!!give , - _ ;•<',.�_'.
<br /> ' � = ;a.-.
<br /> � ` � •. �r Borrower nouce at th$time of ar prior to an in`spectian specif3+ing�easonable cause for the inspection. � �.., ;'ti� .� •,
<br />_ • � . 10. CondemnatFon.The proceeds of any award or claim far damages,direct or consequential.ifl`connection with any . � '- -r ��.•
<br /> � � �.._ wndemnation or oiher takinp af any part of the Property.or for conveyance in lieu of condemnation.are hereby assigned and� , - ;°�� �-�
<br /> , � � � ,. shall be paid to l.ender. • , , "-�'.
<br /> • , • � •� In the event of a total taidng of the Prope�y,the pmceeds sha11 be applied to the swns secured by this Secutity Insirument. � . �` �•�...•
<br /> • - ' whether or not then dee.with any excess paid to Borrow�r. In the event of a partial taking of the Property in w(vch the fair ... _ �A�+_
<br /> ,;`t�,.•'
<br /> �� . < market vaiue of the Property immediately before the taldng is equal w ar greater than the acnount of the sums secured by this � • :���;
<br /> '�``-" . ; � Security Instrument iramediately 6efore the taktng, unless Borrower anc!l.ender othernise agree in wriang,the swns securecl iry . • '�• .
<br /> 4
<br /> � �. . ' this Secarity Inswment shali be reduced by the amount of the proceeds multiplied by the following fraction: (a) the mtal . .':.���;-;i.�
<br /> ,� • • • amount af the sums secured immediately before the tatdng,divided by(b)the fair market value of the Property immediately - •�=�-Y-:���
<br /> , t.. • � • before th� taking. My batance shall be paid to Borrnwer_ In the event of a partial taking of the Praperty in which the fair �� , y
<br /> ` ' "` '. � market value of the Progerty immediateiy before the taking is less than the amomrt of the sums secured immediately before the '=r�:_.:m�
<br /> •:.;%:;:::.'4;; � ��' taldng.untess Borrawer and i.ender otherwise agcee In Hrriring or unless applicable la�:otherwise provides,the rroceeds shalt '�•��-�
<br /> -�F,?j •:-=�' Isea�Ei�i to the sums secure�IZy-this Security!��+�m��ether or uot the sums 2r�ti�due. __
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<br /> .__._,��c.. �----�-- �-
<br /> . ."�, ,. ,.�,, . -If tlie F�a�ecty is siiandonedby Boriiau-ei;bi�it;a.�r no�t�byLx-r�aer taBorro:.er�tharthe�:n.demnor eff�s ro matce an�----- - � --
<br /> . �':��_�
<br /> � ' � award or settEe a ctaim for damages, Borra�er fails to czspond to L�sier cvithin 3d days after t[�e date the aauce is gir�, .
<br /> . � Lender is authorized to collect and apply the proceeds,�its option,either to restoradon or repair of the Propeity or to the sutrs �=
<br /> secuted by this Security Instrument.whether or not then due. �'`
<br /> � ' . �-- - -. . - . U�less Ixnder.and Borrower otherwise agree_in writing._any_application af proceeds.to.principal shall not emend ar _
<br /> �.� . � • ' postpone the due date of the monthly paymenu refeaed to in paragraphs 1 and 2 or cdange the amount of such payments. �"�"'
<br /> � � 11.Borrower Not Reteased;For6earance By Lender Not a Waiver.Extension of the time for payment or modi�ccation �����`
<br /> � . ` of amortizarion of the sums secured by this Security instrument�ranled hy Lender to any successor in interest of�otrower shall
<br /> • �° not operate to release the Iiability of the original Borrower os Bonower's successors in interest.Lender shall not be required to = -
<br /> . • •• : cammemce proceedings against any successor in interest or refuse to extend rime for payment or otherwise madify�amortization . —
<br /> nP the sum� secured by this Security instrument by reason of any demand'made by the original Borru��er or Borrower's `�=
<br /> . ��
<br /> ' , ' . succCSSOrs in interest. Aay far6earance by Lender in exercising any right or remedy shall�tot be a waiver of or preclude the �--
<br /> . .. . • excrcisc�f any right or recne6y. ' ��
<br /> - - 12. Succrssors arM�lsslsns Bound;Joint crnd Serersl �iabillty; Co�sigaers. The covenents und agreements of this -
<br />- , ,• � Security Tnstrument shall bind and benefit tfie successors and assigns af Lender and Borrawer. subject to the ptovisions of . �_
<br /> � , : , p�rag'taph 17. Borrativer's coveranu and agreements shal! be joint and several. Any Horrower who co-signs this Sccurity - �:_
<br /> .,ti , � lnstrument but does not eaecute the Note: (a) is co-signing t his Secufiry Instrument on ly to mort�e, gran t an d convey t t�a t �=�
<br />-= ,. `u Horrower's interest in the Property under the temu of this Security Instniment;(b)is not personally abl'sgated to Qay the sums ��3.�`��
<br /> : secured by this Security Instniment:and(c)agrees that Lender and any other Borrox•er may agee to extend.modify.foibear or
<br /> , .. � �. make any accammodations with regard to the terms of this Security lnstrument or the Note withaut that Borrower's consent. -
<br /> �-- .
<br /> . � •• 13.Loan Charges.lf the loan secured by this Secvrity Inmument is suDject to a law wfiich sets maximum loan charges. • --_-
<br /> " ' �: . �' and that law is fin�lly interpreted so that the interest or other loan charges cultected or to be wltected in cannectioa with the
<br /> . • _ ' laan exceed the permitted limits.then: (a)any sach loan charge shall be red�ced by the amount necessary to reduce the cflacge �—
<br />_i � ', �� to the permitted limit:and(b)any sums already collected from Borrower which exceecled pemutted limits will Ue refunded to
<br /> ,_ . . ' . Borrawer. Lender may choose to make this refund by reducing the princiQal owed under the Nota or by ms�tcing a direct
<br /> _ ' . payment to Botrower. If a refund reduces principal, the reduction wiU be treated as a partiai prepayment without any -�
<br /> ! • � prepayment chatge under the Nate. ' , ����-
<br />-�� '� • 14.NotIaes. Any notice to Borrower provided for in this Security Irtstrument shall be given by delivering it or by m~�ileri� _
<br /> � r �� � � �� . it by first class mail unless applicable law requires use of another method.The notioe shall be directed to the Property Address
<br /> :`�� ':: �' ��� or any other address Borrower desibmates by notice to L,cnder. Any aotice to I.ender shall be given by first class mail to -
<br />.? �� �� Lender's address stated herein or any other address Lender designatss by notice to Borrower. Any notice provided for in this -
<br />° Security Instrument shall tre deemed tu have been given to Borrower or Lentler�vhen given a�provided in this paragraph. ` • . :
<br /> � � � . 15.Gove�ing I.nw; Severnbtllty. This Security Instn�ment sha11 be goverrted by federal law and the law ofthe ��.{��•� '��'-"��
<br /> " urisdicuon in tivhich the Pro �s located. In the event that an rovision or clause of this Securi instrument or the Note '����
<br /> � J Fertl' Y P 1Y : '-;;�'�,;;,"-�
<br /> w' � . • conflicts with applicabie law.such conflict shall not affectother provisions of this 5ecarity instrument or the Note which can be �� .,.:; •-= .�.
<br /> .� � , given effeci without the conflicting provision.To this end the provisions of this Security [nstrument and the Note are dectated � '. •
<br /> - l � . . .
<br /> - ;. � to be sevcrab2c. . . •� ��
<br /> . ' 16.Borrower's Copy.Borrower shall be given one conformed ropy of the Note and of this Security instrutrtent. •
<br /> � �� � ' � Form 3028 9/90 � �
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