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<br /> • • . suhstantialty equivatc�t uto�tgage u�vrance coverage is nnt availabte.BotYOYUer shaU pay m Leader e�6 ainuth a sam equal to � `. . .,
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<br /> •�{ �t.�' ' �ars-ttivel�ih of,ihs ytarly�artg�e inc�m�,�premiurn b�ing Pai��?'Borrower Nhen tlie�nsurance wvemge iaps�vr ceas2d to � �`�, `��<,
<br /> .. be�n effest.Lcr�er wiit acae��.ase�ad rexmn thes�payutents as a loss reserve in tieu of inorigage insursace. Lass teserve • .' ` �. .- _
<br /> m�y�no toager bt•rzquired.�nt td�e optian of Lender.if mortg��,�e insurance coverage tin tlie nunovnt ssnd for the periad a _
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<br /> �. �4`_. ' tha�a t�der reqams)Psvvlded,h�9�a insures SPPr°ved by i.eader again 6eromes availabie aud is obtained.Borrowee shall�ay • . -
<br /> ;�. .� .' , e thc prertriums nequi�d to�naintain�nortgage iasuranc�m effect.or to prnvide a loss rescn+e,un61 the r�uiremer.t foe mart$age ` � L
<br /> .t .' F_=,�.•, , insuranc�euds in acsordaAce v�ith any wnttea agreemem betcvcen 8orrower unci Lender or applicabie Ianr. , ,` . .�.r,; . _
<br /> �.�. ;,. . . . g,Ins�Ctiott.Leuder or its a�gent may make reasona4�le enuies upon aad inspections uf the Property.Lxnder sliail give , . . .
<br /> . �, �"� , . n rea�onable cause for the inspeaiun. -
<br /> gormwer norice�t t1+.e time of or prios ta an inspection spacifyi g
<br /> • 1Q. Coade�nnation. '[t�e Qmceeds of any award or ciaim for damages. direct or coasequential. in oonnection with uny • <� . �
<br /> � ` ���. ,� . � condemnati,an or ather taking of any part of the Pcoperty.or for oonveyan�e In tiett of�nslemnation.aze hereby assi�ned wtd • �� , � . .
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<br /> c., • Sh3116C P31d IO I.Ctide�. ' � " . �
<br /> • ' � �In the evem of a tom!taking of the T'�operty.the prooeeds shatl be applied ta the s5ms s�cutad by this S�curity Instrument. , , , .
<br /> �� whether or not then due.with a�r excess paid to Borrower. In the event of a partial•taking of the Property in�vhicii the fair . +..:. :.._ -_ -_:.. -.
<br /> ,° ' -�;� markeE value of dte Pm�erty immediatelY 6efore tiie ta�sng es e4ua�ta er g�ter than the amc�unt nf the suYns secured 6y this • � ..� _ . -
<br /> • �eCUrily Insttvment immeciiatedy 6efore the taldng.uniess Boaower an�18ader otherwise agree in writing,the sums secum�by �
<br /> ' � ' this Secvrity insuumcnt slialt be redu ce d by t h e amvun t o f t he p r n c e E d s t a u l ri p l i e d b y t h e f o l l o w i n g fr a c ri o n: l a) t h e total .•
<br /> . •� ,`.: .. amount of the sums secured immediateiy 6efore the taking,divided by (b)the fair market value of the Pmpe�ty immediately . � ,
<br /> .� . • before the taking. Any 6alance shall be paid to Borrower. I n t h e event o f a p a r t i a l t a k i n g of the P ro P e rt y in w6ich the fais ., _. ..._....
<br /> . � market v31ae of the Property iamnediateiy before the taidng is less than the amoant of the sums secvred imcned�ately befare the , ..
<br /> ,. • ` tatang,unless Borrower�d Ixuder othecwise agree in writing,or uniess applicable law otherwise provides.fhe pmseeAs shall . . . '
<br /> � c , be appliea w the snms secuzed by this Sec.urity Instrument whetf►er or aot the snms are then due. , ,. :,
<br /> ' � .� if the Property is abanfton�d by Borrower.or if,after notice by l.�nder to Borrower that the vondemnor offers ta make 2n
<br /> � ` ` award or settle a claim for damages. Borrower fails to respond to Lender within 30.days after the date the notice is giv�n. . . ,_._ . .
<br /> , • . . I.�uder is antharized to collect and app3y the proceeds.at its option.either to restoratian or mm�air of tlhe Property ar ta the sums ._ . _, . .
<br /> . • secured by this Secvrity Iasuument,w6ettner or not then dae. �IC�on of roceeds to ci al shall not ea�end or �• � `" �'
<br /> Unl�ss Lender and Borrower oiherwis� agree in writing. atry app� F � P ' ° ,
<br /> '�� pustpone the due date of the momhly paymeats refemad to in paragraphs 1 and 2 or change the amoant of such paymeats. ; + . ,
<br /> � 11.Borro�c Not Released;For6earanee By I.ender Not a Waiv�:Eatension of the time for Pa�rmem er madification _
<br /> � � '. of amord�adon of the sums sea�red bY tius Secur'ity Instrumem granted by Lxnder to any sua:essor in interest of Boaower shall ., _„
<br /> � • not operate to retease the liability of the original Bormwer or Borruwer's sascesson in interest.Lender shall not be required cp �
<br /> ' ' .-- -._ - - com�nence-praeeedings against-any successor_m.interest.Ar_r�fuse to extend time for payment or otherwise modify amortitation .. ': .�:-_: .
<br /> 1R
<br /> ' �. � :� , of the sums secured by this Secunty inscnunent by reason of any deinand made 6y the ariginal B"o�rowet or BoTrower,s -- �, . ,- -- -' .`2
<br /> • . successors in interest. Any forbearance by Lender in exercising any rig6t or remedy shall aot be a waiver of or preclude the `; `'
<br /> exercise of any right or remedy. • . �� �
<br /> , . =.
<br /> � ' 12.Snccesurs sud Assfgns Boan�:Joint aad Severa! L#ahiCi4�, Co-sEgner.°,.The covenants and agceements of this �s...-
<br /> � :._... ,.. = Security Instrument.shall biad_and benefit tlte successors and assigns of Lender and Borrowu, snbject to the pmvisions of :_��"'�F
<br /> ' ' � paragraph•17. Borrower's covenants and agreements sha71 be joint and seve�'al. Any Borrower who oo-signs this Security . .
<br /> - Instmment but does aot execute the Note:(a) is ca-signing this Security Insuument only to mortgage,grant and comey�that
<br /> ` Sorrower's interest in the Prap�rty under the tgrnLS of this Security Inshmment:(b)is not personally obligated to pay the sums
<br /> ' _. . secured by ttus Security Instrumeat:and(c)agrees that Lender and any other Borrower may agree to excend.modify.forbear or . .
<br /> --- -----� malce any xtxommodations with regard to the cerms of this Security Instrument�or the Note aithout that BorrowePs wnsent. . .. ._ - <
<br /> � . • 13.I.oan Cfr�ges.If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges. . , . ,� .� i
<br /> • . . , and that law is finally interpreted so that the interest or other loan char;es wllected or to be collected in oonnection with the � . . •�;_•'
<br /> loan exceed the permitted limits,thea:(a)aay such loan charge shall be reduced by the amount necessary to reduce the charge
<br /> , � 4o ta'e pemutted 1'smit:and(b)any sums alrcady collecced frnm Borrower which eac.eeded pemtitted limits will be refunded to ,���f ,
<br /> � Bosrower. Lender may choose to malce this refund by reducing the princigal owed under the Note or by maIflng a direcc . .
<br /> - . - � - -� payment to Borrarrer. If a refund reduces priacipal. the reduction.w�Q be treatod as a partial prepaymeot cvitnout any �, __ ... . _�_ _ :t
<br /> � . . � preQayment charge uader the Note. _, �•
<br /> ' . • 14.Notfoes.My nodce to Borrower provided for in this Security instrument shall be given by delivering it or by mailing � , ���
<br /> � it by first class mail unless applicabie law requires use of another meihod.The notice shall be directed to the Property Address : ,... �
<br /> . � ' or aay ather address Borrower designates by notice to Lender. Any nopce to Lender shafl be given by, fitst class mail to . • ,��-
<br /> � . Le,.�der's address stated heuein or any other address Lender desigmates by notice to Borrower. Any notice provided for in this .
<br /> � � � Seauity Insmiment shall be deemed to have 6een given to Borrower or Lender when given as provided in tt�is paragrapfi. • . . •
<br />_ .. � 15,Gover�g Law; Severabiitty. 'I4�is Secarity Instrument sha11 be govemed by federal law and the law of the �
<br /> � jurisdiction in wilich the Property is lacated. In the event that any provision or ciause of this Security Iastrument or the Note .
<br /> . , . watlicts with applicab�e law.sach conflict shall not affect other prov�sions of this Security Instntment or the Note which can be
<br /> .. ' givea effect without the conflicting provision.To this end the provisions of this Seeurity Instrument and the Note are declared .``
<br /> . . . . to t�e severabte. . . � . �'�: ..
<br /> -� � . 16.Borrav►er's Copy.Borrower shall be given one conformed copy of the Note and of this Security[nstrument. . .
<br /> • . 17.TraasYea�of the Property ar a Beneffcta!Interest in Borros�es.If all or any part of the Property or any interest in it
<br /> ` is sold or transferred(or if a benefccial interest in Borrower is sold or cransferred and Borrower is not a r�atural person)without ..
<br /> :r.�' _'� •. -.- - Leader's prlor tvritten consent. Lender may. at its opuon, require immediate payment in full of all sums secund by this .• �
<br /> , , • Security Instrument.However,this option shall not be eaereised by Lender if exercise is prohibited by federal law as of the date , r.
<br /> � ' , of this 5ecariry lnstrument. �� �
<br /> " IF Lender exercises this opiion.Lender shall give Boaower natice of acceleration.The nodce shall provide a period of not � � . .
<br /> • • r less t6an 30 days from the date the notice is delivered or mailed within which Borrowet must pay ull sums secured by this
<br />- ' , , � , Security Instrument.lf Borrower fails to pay these sums prior to the expiration of this period,l.ender may invotce any remedies � �� ' �
<br />_ . . permittod by this Security Insm�ment without further notice ar demand on Borrower.
<br /> _ , .' , . : � '�� 18. Borroweti's Ittghi to Reinstute. If Borrower meeis certain rnnditions. Sorrower shall have the right�to have . .
<br /> enforcement of this 5ecunty instnrment discondnued at any time prior to the earlier of: (a)5 days(or s¢ch other period as
<br /> � ' . applicable law may specify for reinstatement) before sate of the Property pursuant to any poKCr of sale contalned•in this .
<br /> . ' Security lashument;or(b)entry of a jadgment enforcing this Security lnstrument.Those conditions are tPiat Borrower:(a)pays
<br /> � Lender all sums which then would be due under this Security Instniment atui the Note as if no acceteration had accurred:Ib)
<br /> • � cures any default of any other covenants or agreemenu:(c)pays a11 expenses incurred in enforcing this 5ecurity instrument. �
<br /> � including,but not limited to.reasonabte anomeys' fees:aad(d)takes such action as Lender may re.uonably require to assure ,
<br /> � ' ' . that ti�e lien of this Seeurity instwnent. Lender's rights in the Property and Borrower s obligation to pay the sumc secured by .
<br /> � � . this Security Inswment shall continue unchanged. Upon reinstatement by Borro�ver, this Secunry Instrumcnt and the i
<br /> ' • :. obligatioa�secured hereby sha11 remain fuliy effective as if no acceleratian had occurred.Hon•ever.this right to reinstate shall � .. .
<br /> �- � ' � • not apply in the case of acceleration under paragraph 17. .
<br /> •• � - 19. Sale oi NoiP; Ctisn�e oY l.oan Servicer, The Note os a paitial intercst ia the Note (together with this Security
<br /> .. � � Instnimens)may be sold one or more times lvithout prior nouce to Borrower.A sale may result in a change in the entity iknown
<br /> '. • as the'Loan Servicer")thai collects monthly payments due under the Note and this Secunry instrumem.There also may be ane .
<br /> � • �� or more changes of the Loan Serricer unrelated to a salc of the Note.If there is a change of the Lc►an Servicer.Borrowrr will be �. . .
<br />— ' -- --- - given written nouce of the ehange in ncrnrdanc�e with par�graph 14 aboce and appticable la�r.The nouce will state the name and •
<br />_- . ' . � address of the new Loan Servicer and the address to nhich�sayments should be�de. The notice�►i11 also contain any other
<br /> infom�ation requimd by applicabte law.
<br />= Z0. F[ar.•uudouv 5ubstc►aces• Borrower shall not cause�r pemut the presence.use.disposal, storage,nr release of any � .
<br />-. � .� :- _� a ►_ - -
<br /> H�rardous Substances on or in the Property. Borro�ver shsill not do. rtor allo�v anyone else ta do, anything ;tffecting thc
<br /> strv s�an s!�Pio�V.st�lnf��!!q�.�E rtie��H.�rantnus�hceanc�ecin�g�t�3oesentenc ls srol no2e�1 io be,thp�p nate�t normal }
<br /> � .
<br /> . � ,� general}r �ti •►D P �_.__._ . .
<br />_ : i residential uses nnd to mtintenance uf the Prapeny. '—`^ i .
<br />- _. � .,
<br />— � • v,g,ao+a Form3028 9/90 F ,
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