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<br /> �, . . payments may no langer be reqaired.at thc option of Lertder,if mortgage insurance cuve�e�the amount and for the periad � •,
<br /> _ - � that i,eader requires)prcvided 6y an insurer approved by f..ender again becomes avaitable and is abtained. Sorrower shall pay ,
<br /> � � � ' the premiums required to maintain mortgage insurance in effect,or to provide a toss reserve.unpl the requirement for m�rtga�e
<br /> _ `,•-=�...�• insurance end�in accordance with any written agreement between Borro�vet and Lender or applicable law. _ � -:
<br /> :� �- ____ _-__ g,���Q�,�,�sder or its agent may make reasnnable entries upon and inspections of the Property. I.ender shall give
<br /> , ��•__ '-4:�'—_
<br />- • • . B�rrower notice at the time of or prior ta an inspection specifying reasonable cause for the inspeccion. �' ; � <
<br /> . 10.Condemnation. The proce�ds of any award or claim far damages, direct or consequenrial. in connection with any ;� ` � ,
<br />- - � � � condemnation or other taking of any part of the Property,or for rnnveyance in lieu of condemnarion, are hereby assigaed and _ _:_ „ _
<br /> � . • shall be paid to Lender. -._ . -.-.-- .
<br /> � _ ' In the event of a total taking of the Rtoperty,the proceeds shatl6e apptied to the sums secured by this Securiry Instniment. � -• ,
<br /> - �--�----.-- =- • whether or not then due, with any excess paid to Borrower. In the event af a partial taking of the Property in which the fair • _ ;
<br /> � � market value of the Properry immediately before the taking is equal to or greater tiu�n the amount of the sums secured by this � . •
<br /> � ' Securiry Instrument immediately before the taking,unless Borrower and Lender otherwise agree in writing.the sums secnred by , � . .
<br /> '� this Security Inswment shall be red�ced by the amount of the praceeds multiplied by the following fraction:.(a) the tatal : �..:,*.•�_�_'
<br /> c •_
<br /> , � amnunt of the sums secured immediately before the taking,divided by (b) the fair market value of the Property immediately � . :_
<br /> • . , before the taking. My balattce shall be paid to Borrower. In the event of a partial taking of the Property in which tt�e f�r ,-� '� `:`.,.�.
<br />-`• � ' market value of the Property immediazcly befare the taking is less than the amount of the sums secured immediately before the `� :,��� ' ::'�;_;-
<br />- taking,unless Eorrower and I.ender othenvise agiee in writing or unless applicable law otherwise provides.the proceeds shall . ;�-�,,;,,�.,�
<br /> ..
<br /> � ; :. � ; .. � ,be applied to the sums secured by this Security Insmiment whether or not the sums are then due. �����
<br />-— -- � � --= • --�� � Ifthr-Pmpeny-is abandoned-by-Barrower,or if.�after-noticeby�xndeuo.Hnrmwsrshatib.e copdemnor offers to make an_.__.___ �.�•�
<br />- � ' `- award or settle a claim for damages. Borrower fails to respond to Lender within 30 days af[er the date the notice is given, '_, .'.i___"�
<br /> � , Lender is authorized to collect and apply the proceeds,at its option,either to restoration or repair of the Praperty or to the sums . �"�°
<br /> ' : � __ .._ secured by this Security Instrument,whether or not then due. . • ��j"�
<br />- � �'"'� , `� �' Untess Lender arnd Boaower otherwise agree in writing, any applicaaon of proceeds to priacipa] shall not e�ctend or
<br /> � � � .. postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the a�taunt of such payments.- - ' '
<br /> � � , ' l 1.Borro�ver Not Reteased;Furbearance By.Lender Not a VUaiver.Extension of the ume for payment or modi�cation `` �''.:
<br /> � , . --��i�'� �
<br /> • � of amonization of the sums cecund by this Security instrument granted by Lender to any successor in interest of Borrower shall - .•h'�
<br /> �- ' � .' not operate to release the liability of the original Borrower or Borro�ver s successors in interest. Lender shall not be required to ;�.:.��
<br /> • ' cammence proceeilings again.t any successor in interest or refuse to extend time for payment or otherwise modify umortizauon ' ��''�"
<br /> � of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's .•;:�;�
<br /> � �• successors in interest. Any forbearanze by l.ender in exercising any right or remedy shall not be a waiver of or preclude the •
<br /> ,.. � ex�cisr of any right or remedy. � ?
<br /> , r' -1r�
<br /> .. - — � ...----. 12. Successars and Assigns Iiound; Joint and Several Liability; Co-sig,ners. The�covenants and agreements of this .:.,��• _
<br /> � Security Instrument shall bind and benefit the successors and assigns of Lender and Borrowec, subject to the proVisians of �•'+
<br /> r •= paragraph 17. Borrower s covenants and agreements ShaU be joint and sevecal. Any Barrower who co-signs this Security ;- r,,
<br /> ' r � Insttument but daes not execute the Note: (a)is co-signing this Security Instrument onfy to mortgage.grant and convey that _ �'r
<br /> '` :. �.,
<br /> Borrawer's interest in tfie Property undcr thc terms of this Security Instrument; (b)is not personally obligated to pay the sums �_ :«='�l—
<br /> � � secured by this Security lnctrument::u�d(c)agreec that Lender and any other Borrarver may agree to extead,modifjr,forbear or t1�-=-"—
<br /> ' � � ' . make any accommodations�vith regard to the terms of this Security Instrument or the Note without that Borroiver's consent. . �� ,� x•._
<br /> _�' ..
<br /> � 13.Loan Charg�. If the loan securcd by this Security Instrument is subjcct to a law which sets maximum loan chatges. �'':�=��,____
<br /> _ � � • and that law is finally interpreted so that the interest ar other loan charges collected or to be callected in connecdon with the •
<br /> . • loan exceed the permittec!limits,then: (a1�ny such loan charge shall be reduted by the amount neeessary to reduee the eharge • ' ��~
<br /> � to the permitted limit:and(b)any sums already collected from Borrower which exeeeded permitted limits will be refunded to . :�;.,:''..J
<br /> ' • Borrower. Lender may chaose to make this refund b reducin the rinci al oweci under the Note or b makin a direct � � ��
<br /> Y s P P Y S ,t�•-
<br /> � . , payment to Borrower. If a refund reduces principal, the reductian will be treated as a partial prepayment without any �`�
<br /> ' • . ' _,.. . � prepayment charge under the Note. � ;
<br /> . , 14.Notic�.Any notice to Borrower prmided for in thi:Security Instrument tihall be given by delivering it or by mailing •
<br /> • ' it by fint clatis mail unle�s applicable law reyuires use��f another method. The notice sh�ill be directed to the Properry Address � -, -
<br />- . • or any uther addre.s Burrower designates by notice to Lender. Any notice to Lender shall be given by frrst class mail to �. • .
<br /> � Lender's address stated hcrein or any ��thcr addre�s Lendcr dcsignates by notice ta Borrower. Any notiec provided for in this •
<br /> `•%�'-� ' ' Security Instrument shall be dcemed to have been given to Borrowcr or Lender when given as providcJ in this paragraph. � •
<br /> _ 1S.Governin� l,a�w. Severabllity. "i'his Security Instrument shall be governed by federal law and the law of'the ._� � �� � ,
<br /> . � � jurisdiction in which the Property is lacated. In the event that any prnvision or clause nf this Security lnstrument or the Nate .
<br /> � . conflicts with applicable law. such conflict shall not affect other provisions of this Security Instrument or�he Note which can be �
<br /> • : .�: � � ' given effect without the conflicung prmision.To this end the provisions of this Securiry lnstrument and t'he Note are declared • . ,
<br />- . �' � � , to be severable. �
<br /> - .. 16.13orrot�•er's Copy. Bonotiver shap he given one conformed capy of the Note and af this 5ecurity Instrument. . .
<br /> • •.� � � . .' � Form 3028 9/9U ,
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