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<br /> ,� subsusntially cquivnlent mort�age insurance covcrage is not avnilable, Borrrnver shnll pay to Lcnder cach month a sum eyunl to �_
<br /> onc-twc!Et.h of thc;yearly mort$age tnsurnnce premium being pnid by Borrower when thc insurancc coveragc lnpse�l ox ceased to -
<br /> be in ei{ect. L�:nd�:r tivill accept,use nnd retuin these payments 5s n loss reserve in lieu of ine�rtgage insurance. [..ass reserve
<br /> - p�ymcntH mny nc►I��nIIer be require.d, at tlie�ption of Lcndcr, if murtgu�e ii�.surancc covcrage(in tlic amount unJ tor Q�c period r
<br /> thnt L.c»der rrquirrb)provided by an insurer r�pproved by L�:ndcr again br,�omes availablc and is�btained. surrower shal!pay �� :
<br />--- •:���`•r the premiums r�,qui�'ed to maint�in ntor!�age incurance in effect,�r to pr.avi�!p�t loss reserve,until the requircment for mongaSdQ _
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<br /> ' ' . insur.mcc enda in nr.GOrdnnce with uny �vriteen asre���uGni uetwrxu Dorrowcr and Lcndcr or npplicwble law. -- _
<br />•;�:;�;+ :� 9, Imn�ctt.�q,.. Lender or its agent may make reusonuble encries upon and iiispections of thc Property. I.ender shall give� i�__
<br /> � Barrrnvor natice nt thc timc of or prior to nn inspection specifying reasanable cause for the iaspet:tion.
<br /> 10, Cq1if�QiT11;f:Yton.The proceeds of eny awu�d or c123m far damages, direct or consequcntial, in connection with any� �:':
<br />_`"°r�'�::;,, condemnntic►n or.ntl�er taking of any pan of die Progerty.or for conveyancc in lieu of condemnation, are hereby mssigneJ m►J� �,_;
<br /> . shnll be paid t41..ender. r---
<br /> -=���t�� i��thc event of a total takin�of th�Prop�rty,the proceeds shall be applied to the sum5 sr,cured by tbis Security Instn�ment,� ��._
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<br /> whettiez c�r nnt then due, with any excess paid to Barra�ver. In the event of a purtial takin�of the Propeny in which 1he fair� _
<br /> �.. m:�r�:er,•i�alu�as the Property im.m°dintely befare the tAkir�,� is equal ta or greater than the nmount of the sums secun:d by this� __
<br /> �� "t Sc�cusity lnstrument immediatdy beforc the taking,unless Borrower and Lender athe����ise agree in writing,thc sums securc,�by'� �_
<br /> _ J ,,;�• this Securiry Instrument shall be reducecl by tFu: amount of the praceeds muitiplied by the Followin3 fractian: (a) the total �
<br /> mnount oF the sums secured immcdiately bef'ore tt:e taking, divided by (b) the fair market vulue of the Prc�perty immediately
<br /> :a...j`;,�.. � befurc the taking. Any balancc shall be paid to Borrowcr. In thr, evcnt of a partial taking of the Property in which the fa�r
<br />_:�;.:.�; mnrket value of the Propert,y immediately before the tnking is lcss than the amounr,of the sums secured immedintely br.fore tl�c
<br /> ..�,:-.. tnking, unlesti Borrowcr und Lcnder otherwise a�ree in writiRL or unlcss npplicablc law otherwise providcs, the praceeds shall
<br />__ _ bc upplicd to thc sums securcd by this Security Instrument whcth�r or not thc sums arc thcn due.
<br /> _-- — !f Ihc Property is ubundoncd by Bnrrawor.or if,atter noticc by Lender to Borrowcr that thc condemnor offer�to make nn
<br /> �''�� awurd or �ettle u cluim for damugcs. E3orrawer fai1R to respond to l.end�r within 30 duys ufter the dute the noticc is given.
<br />-.���� Lcndcr is authurlrc�tu¢ollect and n}sply thc praceede,at tts option,cither to restorution ar�cpair of thc Property or to thc sums
<br /> �� Fccurcd by thiK Sccurity Instrumcnt,whcthcr or not thcn duc.
<br /> =7 Unlesw L.cnder nnd Borrc�wer othcrwise ugrce in writing, any applicadon of proceeds to principul shall not extcnd or
<br /> ���'������� tit nc thc duc dntc of dio mcmthly payments rcfcrrcd ta in nrugruphs l and 2 or chnngc thc amount of such paymcnts.
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<br />,Y �y ll. &�rrower Nat ReleASed;FurbearAnce By I.ender i►t a Waiver.�xcension of the time far p�yment or modiCicntion
<br /> �,.�'._�"�� uf umortixuUon of tho sums saured by thfs Security lnstrument granted by Lenr�er ro any successor in inv:rest of Borrawer shall G
<br /> "� not aperatc to rcleuse the liubiliey of thc��riginal Harrowcr or Borrotivcr's suscessors in interest. Lendcr shall not be rcc�uired to
<br />=�.�,� commence procccdings agninst any successar lr+interest or refuse to extend time for payment or utherwise modify umonication
<br />���� of the sums secured by this Security Instrument by reason of any demand made by the originul Borrowcr ar Horrower's
<br />--- successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the
<br /> cxcrcise of uny riBht or retnedy.
<br /> ---- 12. Successors and Ass�Rns Bound; J�6m1 and Sevexal Llybility; Caslgners. The covenants a�d agreemcnts of this
<br />__..___— Security Instrumant shall bind and benefit the successors ansi assigns of L,ender und Borrower, subj�:ct to the provisions of
<br /> paragragfi I7. Fwreower'a wvciaii5 ar�d agrr:.�ar.�� shs!! !w ;^+^r ��,d ceveral. Any Barrower who caqi�ns t�is 9ecurity
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<br /> Iiistaument but does not execute the Note: (n) is co•signi�this 5ecurity Instrument only to mortguge. grant arzd convey that
<br /> f3arra�ver's 9nterest in the Propeny under the terms of this Security Instnunent; (b)is not personally obli�ated to p�y the sums
<br /> — secured by this Security Instrument; and(c)agrees that Lender and any ather Bonower may agree to extend, mcxiify,forbeur or
<br /> - -� make any accorrunodaUons wlth regard to the terms of this Securlty In9trument or the Note wichout that Borrowcr's consent.
<br /> 1�. [.flan Charges.If the loan secured by this Security Instrument is subject to a lavr which sets maximutn loan charges,
<br /> and ehat law is finally interpretod so that the Intcrest or other laan charges collected or to be collected in oonnection with ttie
<br /> loan exceed thc permitted limus,then: (a)nny such loan charge shall be reduced by the amount necessnry to reduce the charge
<br /> to the permittcd limit; and (b) t�ny sums already collocted from Borrower which exceeded permitted lim�ts will be refunded to
<br /> Borrower. L.ender may chaose to make this rofund by reducing the prineipal owed under the Nate or by mc►king a d'srect
<br /> pnyment to Borrower. If a refund rednces principal, the reduction will be treated as n partia! ps8payment without nny
<br /> pr�.�avment chnrge u�ider the Note.
<br /> �1�.Notices.Any noticc to Borrowcr provided for in thls Security Instrument shull be given by delivcring it or by mailing
<br /> it b�first cluss mail unless applicable law requires use af ctnother method.The notice shall be directed tu the Property Address
<br /> — o� nny other address �3orrower designates by notice to Lender. Any notice to I.ender shafl be given by first clasa mail to
<br /> Lcnder's addres.s stated herein or any other address Lender de.vignates by notice to Borrower. Any notice provided for in this
<br /> -------- 5ecai�ity Insttvmant shall 6e deemcd to have been�iven to Borrawer or Lender when given as provided in this paragreph.
<br /> �' 15.Governi�g Law; Severebfllty. This Security Instrument shull bc govemed b� fedcral luw and t{�e law of thc
<br /> -_ _ jurisdiction in which the Property is locuted. In the event thut any provision or clause�f t iis Security Instrument or the Ncte
<br /> -_— conflict�with applicable law,such conflict shall not affect other provisions of this Security Instrument or the Note which can be
<br /> given effect wlthout the conflicting provision. To this end the provisions of this Security instrumr.nt and the Note are declured
<br /> to be c�everable.
<br /> 16.Borro�ver's Copy.9onower shall bc given one conformed oopy of the Note and of this Sewrity Instrument.
<br /> 17.Transter ot the Property or a BRneflctal Interest in Dorrower.If all or any part of the Property or uny intsrest in it
<br /> is so9c1 or transferred(or if a bene(ieinl interest in Dorrower is sold or trensferrcxi and Bonower is not a natural�erson)without
<br /> Le.nder's prior written consent, Lender may. at its option, require inuncdlatc payment in full of all sums sECUred by this
<br /> Security Instrumetu.However, thls option shall not be exercised by I.ender if exercise is prohibited by federal law as of the d.�te
<br /> of t5is Security Instrument. ,
<br /> [f Lender exercises this optlon. I.end:r shall give Honower notice of acceleration.The ttotice shall provlde u period of not
<br /> le� thnn 30 d�ys from the dflt¢thc notice is dslivered or mailcd within which Borravier must pay all sums securecl by this
<br />_,.��� S2curi2y Instrument. if Borrower iails to pay these sums prior to the expiration of thes phriod, I.endcr may invoke any remedies
<br /> --- __ _ permitted b.y this Security Instrument without further notice or demAnd on Borrower.
<br /> 18. Iiogruwer's Right t� Retnstate. If Borrower meets certnin conditione, Bflrrower shall have thc right to have
<br />---__.�� enforcement of this Security Instniment discontinucd nt nny timc prior to the earlicr of: (a) 5 days (or such othcr period as
<br /> - applicablc Inw may specify for reinswtcment) before sule of the Property Nursuunt to uny powcr of salc wntafrtcd ln this
<br /> -- Security Instrument;or(b)entry of n judgment enforcing this Security Tnstrumcnt.Those conditions ure that I3orro�ver:(a)pays
<br /> Lender all sums which then would be duc under this 5ecurity Instrument nnd U�e Note us if no acceleration had occurred; (b)
<br /> cures any default uf any other covenants or agreements; (c) pays alt expenses incurred in enforcing this S�urity Instrument,
<br /> -- including, but not limitcd to, rcasonable attorneys'fces; and(d)takes such action as Lender�nay reasonubly require tu assurc
<br /> thut die lien of this Sccurity Instrument. Lender's ri�hts in the Property and Borrowcr's obli�ution to pay thc sums scc:ured by
<br /> �_. n.._... r�.. ..1�.. i«..�......e..� ...vl fl�a
<br /> - = Ih19 Sccurity ItLCtruntent shail COt1t�tILLC uncnungca. UF76n reenaiuictti�ui vy w��v..ti, s.��o .,...:' •q ...,........... .,.... ...
<br /> _ ',�,�n obligutions secured hereby shall remaln fully effective as�f no�ceelerution had accurred. Ho�vever, this ri�ht to reinstate shull =
<br /> = ____ not apply in the cuse of nccelerntion under paragraph 17.
<br /> ----- — 19. Sele of Notc; Change of Loan 5ciw[ccr. Tlie Note or a partial tntcrest in the Note (togethcr with this Security
<br /> ...:. -- — Instrumcnt)may be sold one or more times without prior notice to Borrower. A sale mny result in a chunge in the entiry(known
<br /> �,-�-�!=�: as the "Laun Servicer")that collects monthly payments due under tl►e Note and this Sccurity Instr�mr,nt.Thcrc also may be one -
<br /> _;_,:�.�� or more chungee of thc Loan Servicer unrelnted to a sule of the Note.If there is a change of the Loan Servicer,Borrower wiU be
<br /> ,�i�., - givcn writtcn neticc of thc change in accordnnce with para�raph 14 above and app!'ssubte law.7'he notice will state the name and
<br /> address of the new Loan Servicer and the address to which payments should be made. The notice will atsu ro�uain any othef
<br />='�`�`� "'�:.`.�:; int'ormui�or�rec�uired by upplicublc la�v.
<br /> ';� 24f. �$azardous 5ubstances. Borrower shall not cause or perniit thc prescncc, usc, dispos:il, stora�;c, or relcuse of any
<br /> �� H;uardaus 5ub;taaces on or in the Prarerty. Borrower shull not do..nor allow imyo7e clsc to do, nnything affectin� the
<br /> �'�= Propeny thut is in violation of any Environmental Lsiw. The prececling two sentences shull not apply to the presence. use, or
<br /> _—_„i�""� storage on tho Pro�rty of small quantities ot'Hawrduus Substances thut arc generally recognizcd ro be appropriate to normnl
<br />=�''""""`"`°'.1�- residc:nti�il uses and to maintcnan�c of thc Property. � _
<br /> � ' ,� Vepo 3 0l 4 Fonn 30�8 9/9Q
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