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<br /> . ,. pbymcnts may no longcr bc rec�uircd,ut U►a opdan of Lr.nder,if mongmgc insurancc covcragc(in thc nmaunt and for thc�c,riod ' ��,
<br />-- .. � that l.ender rcquires)pravlded by an insuar approved by I.ender ngein hecomGS nvn�lable and fs abtained.Dorrower shall pay the I� :,
<br /> � r�nliums r^ uired W tet;1riL'+1� mon r�e i�eSUri+ttce in effoct,or [o mvide n las.q racerve, unul the r u�rement for mo e �
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<br />�,�:. „ insurancc ends in nccordancc with any wriucn egrecmcnt betwcen Bamwcr and Lcnder or applicable law. � ;�ti
<br />�, 9.Iat�ctbn. Lcndu ar ilv :�gent may m�1cG rr,�soaahlo cnvics upon cind inspa:tion9 of Utc Pmtixrty.Lcndcr shall givo � �� �� s.
<br />� _ �orrowu nodce et the time�f ar prior u�on inspecdon spec�fying re,aSOnable cnuse for tho inspecdon.
<br />� " • 10.Condema�tion. 'i'he procec�s of ony nward or claim for clamages, dircct or con�oyuemial. in connection with any '
<br /> ` condcmnation or ather taking of any part of the Prapeny,or for canvcynna� u�Ueu of condemnuuon. �c hcrcby assigned and
<br />_ � shail be p�id to Lesidet. �
<br /> - In the event of A tot.il ta{cing of�hs Property,the procced9 shall be applied w the sums secured by this Security Instniment,
<br /> • whethcr or not thcn duc.with t�y cacess paid to Borrowcr.In iho evcnt of a part�al wking of�he Propcity in which the fair madcct i
<br /> valuo of the Prapcaty immediately befaro tha taYanB is equnt to or greuter than the nmount of the sums accurcd by this Security �
<br /> Inswmcnt immcdittuly bcfnre ihe t�king, unlcss 0orrowcr and Lcndcr otherwisc agrc�s in�vriting,the sums securcd by thls j . .
<br /> __� Security Instncment shall be rednced by the tunount of tha praceeds mulaplied by thc fopowing iracuan:(u)the total amount of � x
<br /> ;� tho sums secured immediatcly befoce thc talcing,dividcd by(b) the fair maricet valuc of the Prop�ty immcdiately beforo tho t . ��_
<br /> =s _�, t�ing.Any balance shal➢be paid to Baarowee.Gi U�e eve��t o�'e p�.-ra1 teking of tho Prop:.rty in which tt:�fair m:s:et�alus of�he • . . ... --
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<br /> . Proputy immediately beSores the taking is less thun tho amount of thc swns socurcd immedintely beforc the taking. anlcss �. .. ��
<br /> �� Borrower and L.endr,r othcrwise agrae�n wripng or unless appGcable law otheiwise provides.the prncceds shall t►e applled to the .
<br />���i sarns scxur.ed by this Seciuiry Ins�wnent whether or not thc sums are ihen due. . —
<br />-'.' If�ha Prapesty is rsbandoned by Botrower,or if,oftcr nouce by Lcnd�to Borrower that thn condemnor offers eo make an «'�"' '•�''�"k�' '
<br /> ; award or settlE a claim for d.amagcs,Borrower fails to resaond to Lcndcr within 3Q days aftcr the datc the nodce is given,Lcader .A.���_;;;r
<br /> lt , is authorized to couoct and apply t1�e proceeds,at its optian, cither to restoration or rcpair of the Praperty or to the sums secured r�:;��
<br /> �• , by this Sectuiry Instrument,whcth�or not then due. �
<br />= Unless Lender and Boerower oiherwisa ag�ee in writing. anY applicadon of procceds to principal shall not extend ar postpw�e _ -
<br /> Iha due date of the montdly payments refcired to in paragrapbs 1 and 2 or change the sunount of such paymcats. ��'.; —
<br /> ; 11.Borrrnwer Not Rekased;Forbcarance By I.�nder Not a Wuiver. Fa�tension of the time for pay�ncnt or modifi� �� -
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<br /> � '��.�; � not eperate to release the liabiliry of Qio original Borrowrd or Borrorver's saccessors in int�re3t L.aidet shall not be requited to .�'";, '
<br /> � commence proceedings against ony sn�er in intcrest ar refuse to extend tima for payment or o.tnelwist modify amorti�atio�n�f ���'``: '�'�
<br /> - � the sums secured by U►Is Secusiry Instrument by re,sison of any demand made by the original Bomoner or Barovcer's successors �.,��'
<br /> ' in interesG My forbearancc by Lcnder in eRencLsing ony right or remedy shall not be u waiver of c�r prccluda tfie caercise of any •
<br />-_ � right or remedy. �.nti.:
<br /> - 12.Successars and Assi��Qound;Jo�nt und Sevmrnl Liability; Casiguers. 'It�e covcnants and agmements of thi9 ' ' ` "�
<br />; Security Insh�tment shall bind and bas�ef t tha successars and �cs�r.s of Lender and Barrower.sutsject to tho provisia� mf
<br />_ paTag�r�pl� 17. Bocmwer's covenants and agreements shall be joiart �nd severnl. Any So�rower who ca-signs this Seci�.iry _ �.
<br /> " Insuument but does not cxecate the Note: (a) �S co-signing this Ser,unty Instrumcnt only to moitgaga,grant and wnvey�nt � �"
<br /> r '�� � Borrowrcr's intcrest in the Property undcr d�e tecros of this Securiry Instrument;(l�)is not personally o6ligated tn pay the sums , :
<br />_ � . secured by this Security Instrumen4;end(c)agrees that Lender and any other Boirower muy e4gee w eatend,modify�forlxac or ,.�:�•�
<br /> "_, � ' make any accommodations with rcgard to the terms of ihis Security Inswment or the Note without tliut Borrowct's cor�sen� � � ����"1�'__
<br /> 13.Loan Ct�rges. If the loan secured by thit Security Instnunent is subjece to a law which sees mtuimiun logn charges, ' ;`�"��
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<br /> `:.:;'" an d U�a tlaw is finelly interpreted sa�hat tAa interest or othcr loan charges collected or to be collectcA In wnnection with tlie Ic^.'�n i �';':•''-''� °°
<br /> .1 � ' ''•�'`` ' excecd the pennitted limits,then:(a)any such loan chn�rge shall be reduced by UiG amount necessary tu reduce the charge W the . �'.y'� � �;
<br />_ • permiued limit;and(b)any sums alrcady wllocted trom�3orrawer which excceded permiucd limits will be refu�d�d to Borrowcr. `•..i :...:• --
<br />_�" p: I.ender may choose to make this refund by reducing the p►incipal owed under the Note ur b�f making a dircxt paymeni w ��' ,,�`'.,f'',"'.� .
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<br />-�d Borrower. If a refund redaces principal,the reduction will be m�etitati t� a partial prepaymens vrnlrout an�y prepayment c►4tts;r,� y �,:•;,, �
<br /> _�l• �"���'��' under tha Notc. , _
<br /> ` 14.Notices. Any�nori�e to Borrowcr pmvidcd for an this Security Instrument shull bc given by delivering it or by mailing it �:,� „ -"'�w '
<br /> y� ' by first cL3ss mail unless applicable laov requires use of another method.'Yl�e notice shall be dim:cted to the Property Address or �,:
<br />_,t� � , • any othcr nddress Borrowcr designates by notice to Lender. My notice to Lcnder shall be givcn by first class mail to Lcndcr's � � ,
<br />- - • uddress statai hcrein or any othea address Lender designates by notice to Bonower. Any noti�e�rovided for in this Sccurity �
<br /> �T Instrument shall be dcemed to have bceri given to Boirowcr or Lcnder when given as provided in this paragragh. ;
<br /> " • IS.Covcraing Law;5evcrabillty. T7�is 5ec�risy Instrument shall be govern� by fcderel law and the la�v of thc ;
<br /> ��" jurisdiction in which the Prope�t}► is located.In the event thnt any provision or clause of thi�Security Insuument or the Note
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<br /> . wnflicts wi�h a�plicable law,such conflict shall not affect other provisions of this Security Instrumcnt or tha Noto which c,ue he ,
<br /> . given effect without Ihe contlicung provisi�n.To this end tho pravisi��ss of this S�urity Instrument and U�e Note are declared to ;
<br /> �•� . bo severabSe. '
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<br />�;? Foren 902U 9/90 �.
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