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<br /> fiub9tuntially equivalent mong�gc irrsueance coveragc is not avaflable, Hoerowcr shall pay to Lender each month a sum eqi�ul ta
<br /> unc•twelfth af thc ycarly mortgagc insurnnce premium being paid by Horrower when the insurance covcrugc lapsed or ccASed to j
<br /> be In efi'ect. Lender will ncL•ept,use and retain these payments as a loss reserve in lieu of mortgage insur;ince. Lass rescroe 6_:
<br /> �n►ymcnts nmy no longer bc rc;quirecl, at the option of Lcndcr, if mong�ge insurance caveruge (in the umount anJ for thc perind �
<br /> , thnt Lcn�lr,r rcquires)providul by an insure►•upprovcd by i_ender�gnin becomes�vailablc and is obtniiicd. Borrowcr sliall�pay��
<br /> thc prcmlums rcquired to maintain mortgage insurance in cffect,or ro provide a loss rescrve,until thc rrquircmcnt for mortbii�c�
<br /> hisurcuicc end:;in nccordance with any written agrecme��t betwcen Borrower and Lender ar applicablc law. �
<br /> 9. Inspectlon. Lender or its ugent may make reASnnable entries upon nnd inspectians of the Property. l.ender shztl givo � �
<br /> � (iurruwer n�tfce ut thc time of or priar to an inspcction sprcifying reASOnuble cause for the lnspcction. �„
<br /> lU. Condemnalloa. The proceeds of any award ur claim for damages, direct or consequentiul, in connection with a�
<br /> condenmudcm or ather taking of any part of the Propeny, or tor conveyance in lieu of condemnation, are hereUy assigned un� G_
<br /> slttdl be puid to L.ender. s.
<br /> in Qie evcnt of�cocui caicing�,i ii�o F��pc�y,the proceeds sh�ll k�r r,nrlied to the sums secured by this Security lnstrumen� L
<br /> whether or rot then due, wirh any excess psid to Borrower. In the event of u pareial taking of the Propeny m wnicn che ia
<br /> markct vuluc of thc Property immediately bcfore the taking is equsl to or grcatcr than thc amount of the sums secured Uy th�
<br /> Sccurlty Instrument immediately before the tuking,unless Borrow�er and L.ender athenvise agrce in writing,the sums securecl b
<br /> thiti Sccurity Instrument shall be reduced by thc amount of the proceeds ►nultiplied by the follo�ving fraction: (a) the total
<br /> un�aunt of the sums securcd immedistely before tt►e taking, divided by (b) the fa�r marlcet value of the Pruperty immediutcly
<br /> beforc thc tnkins. Any balance shall bc paid to Borro�ver. In the event of a partial taking of the Property �n which the fair `
<br /> ntarket vnlue of the Propeny itnmcdfutely before the taking is Icss than thc a�nount of thc sums secured immediately beforc the
<br /> tc►king, unlcss Honowcr and L.endor otherwise agree in writing or unless Applicuble!nw otherwisc provides, the procecds sliall
<br /> bc upplicci to the sums secured by this Security Instrument whether or not tha sums are then due.
<br /> if the Propeny is abandoned by Borrower,or if,after noticc by Lcnder to Bonower that the condemnar offcrs to makc an
<br /> awnrd or sct[la u claim for damages, Bonower fails ta respond to l,ender within 30 duys after the dat� the notice is siven,
<br /> I.,ender fs uutltm•izod to collect and apply the proceecis,at its option, either to restoration or repair of ths Property or ta the sums
<br /> secured by thls Security Instrument,whethor or not then due.
<br /> Unless Lender mid Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br /> postponc the duc dntc of the monthly paymants referred to in paragraphs 1 und 2 or chan�e the amount of such payments.
<br /> 11.Borr�ewer Not Released;Forbearnnce By Lender INot a Walver.Extension of the time for payment or modification
<br /> of nmortlzation of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall �
<br /> not aperate to rcicasc the liability of thc original Bonower or Bonower's successors in interest. Lender shall not be required to
<br /> commettce praceedinss against any successor in interest or refuse to extend time for payment or otherwise modify amortization
<br /> � of the sums secured by this Security Instrument by reason of any demand made by the original Bonower or Bonower's
<br /> successors in intenst. Any farbearance by Lender in exercisin�any nght or remedy shull not be a waiver of or preclude the
<br /> cxcrcise of nny right or rcmcdy.
<br /> - 12. Successore and Assfg�s 13ound; JoInt und Severnl Llabil(ty; Co-signers. The covenants and ngreements of this
<br /> Sccurity Insttument shall bind and benefit the successors und assigns of Lender and Borrower, subject to the provisions of
<br /> - pari►graph 17. Borruwcr's covenants and agreements slinll be joint and several. Any Bonower who co-signs this Security
<br /> Instrument but daes not executo the Note: (a) is co•signing thi�Security Instrum�nt only to mortga�e,grant and convey thac
<br /> Borrower's interest in the Property under tne cerms of cnis Sr�:u��cy I��strumcnt;;�Z::n�:p=i�^��l:^hli�Hted to pay the sums
<br /> secured by this 5ecurit�Insuvmenr and(c)agrees that L.ender and any other Borrower may agrec to extencl,modify,forbesu or
<br /> make uny uccanmodat�ons witl�regard to the terms af this Security Instrument or the Note without that Borrawer's consent.
<br /> 13. Loan Cherges. If the loan secured by thi3 Secu�ity Instrument is subject to a law whlch sets maximum loan cliarges,
<br /> nnd thut lnw is finully interpretes!so tha2 the interest or other loan charges collected or to be collected in connection with the
<br /> loun exceed the permitteci limlts, then: (n)uny such loan charge shall be reduced by the amount necessary to reduce the charge
<br /> • to the permitted limlt;nnd (b)uny sums ulready collected from Bonower which excee.�led permitted limits will be refunded to
<br /> Borrower. I.ender muy choose to moke this refund by reducing the principal owal under the Note or by making a direct
<br /> payment to Berrawar. If u refund redu:.es principal, thc reduction wiU be treated as n partisl prepayment with�ut any,
<br /> � prepayment cherge unaer the Nate.
<br /> 14.Notices.Any noticc to Borrowcr provided for in this Security Instrument shnll be given by dslivering it or by mailing
<br /> , it by first clnss mail unless npplicublc law requires use of another method. The notice sh�ll be directed to the Propeny Address
<br /> ur nny other uddress Borrawer designutes hy notice to Lender. Any notice ta I.ender shall be given by first class mail tc
<br /> ' Lcnder's address statal herein or any othcr address I.ender designates by notice to Borrower. Any notice provided for in this
<br /> Security Instrument shall be de,emed to have been given to Bonower or Lender when given as provide.d in this paragraph.
<br /> 15.Goveraing f.pw; Severs�billty. This Security Instrunient shall be govcrned by federal luw und the law of the
<br /> Jurisdiction tn wl�ich the Praperty is located. In the event that eny provision or clause of this Security Instrument or the Note
<br /> g v n�ceffecttwi hu,ut tho c nfll ting prov�isiod�Tothisf nd he pr�ovi ions of thisSSecurity Instrumenttand�theNNo e are declared
<br /> to be sevcrablc.
<br /> 16.Borrower's Colpy Borrower shall be�iven one conformed copy uf the Note and of this Securiry Instrument.
<br /> � 17.Transfer of the Property or a Beneficlal�nterest in Borruwer.If all or any par:of the Property or nny int�rc�r in it
<br /> is sold or trnnsfcrred(or if a beneticial intcrest in Borrower is sold or trensferred and Burrower is not a natural perspn)withaut
<br /> Lender's prior written consent, l.ender may, at its option, rcquire immediute puyment in full of ull sums secured by this
<br /> Sr,curity Instrumcnt.However,this optiun shall nat be exercised by l.ender if exerc�se�s prohibitcd by federal lav�as of the datc
<br /> of this Securiry lnshument.
<br /> [f Lcndcr cxerciscs thi:;uptfnn,l.cnder shnll give Horrower notice of acceleratian.The notice shall provide a period of not
<br /> less than 30 days from the dnte tite iiotice is delivercd or mailed within which Borrower must pay all sums secured by this
<br /> Security instrument. lf Borrowcr fnils to pay these sums prior to the expiration of this period,Lender may invoke any remedies
<br /> peimittcd by this Sccurity Instrumcnt without further notice or dcmand on Borrower.
<br /> ' 18. Borrower's KIRht to Relnstate. If Dorrotver meets certain conditions, Borrower sh;�ll havc thc right to have
<br />� enforccmcnt of►hiti Sccurity lnstrumcnt dlsa�ntinucd at any time prior to thc enrlier of: (a) 5 days (or such other period as
<br /> = applicable law mi�y ypecify for rciny►atemcnt) before sule of the Property pursuant ro any power of salc contained in this
<br /> = Security Instrumcnt;or(b)cntry of n ju�lgmcnt cnforcing this Sccurity Instrument.ThASe conditions are thac Borrowcr: (u)Qays
<br /> Lender all sutns which thcn would be Jue under this Security Instrument und the Note as if��o acceleration had occurred; (b)
<br /> — cures any defauU of uny other cuvenunts or agreements; (c) pays all expenses incurred in enforcing this Security Instrument,
<br /> including,but not IimiteAl to, re;«onnble un�meys' fecs; and (d)takes such action as Lender mny ret+sonably requim to assure
<br /> that the licn of tl�is Sccuriry Instrununt. Lendcr's rights in thc Property und�orrower's obligation to pay the sums sccurc.�i by
<br />_— this Sccurity lnstrumenc h9u11 cuntinuc unc�u+n8eci• Upon rcinstatement by Borrower, tbis Sccunty Instrument and the
<br /> ..�.u....�a,....,.•o,.u.•arl linrnhv ���LII renuin fullv effcctivc us if no acceleration had accurrcd. However, this right ro reinstatc shall
<br /> .,.,..e.,..,,..,...�_.__.._.__, ...._..
<br />.� not apply in tltc cusc uf ucccicrnNon undcr parngruph 17.
<br />?:� 19. Sale of Notes �h����R�' ��P la►nn ticrvicer. Tlu Notc or i► partial interest in the Note (togethcr with this Security
<br /> Instrum�nt)may be sald u�ie m'min�c lfu�cs wldu�ut ptiur noticc to eorrowcr, A sale may result in a changc in the entiry(known
<br />--� as d►e "l.oun Servicer")Uiat coUectti muntl�ly puymcnts due under the Note and this Security inatrument. There also may be one �_•
<br /> �� or tnore chn�iges uf thr I.�iiui ticrviccr uiirclntcd tu u s;de of the Notc.If therc is a ch�ingc of the L,oan 5ervicer,Borrower will bc „�,
<br />:`;� biven wriucn noticc��Y die clmngc iu nra�rdnncc�vith paru�raph 14 above and applicuble law.The noticc will stute the name and •.:
<br /> uddresti of the ncw lauin ti�eviccr m��l the uticlress tu which pnyinents should be made.The noticc will also contain uny othcr
<br /> infcirmntiou reyuircd by nprlicr�Nlc Imv.
<br /> 20, Iluiurduuy tittl�slunccv. li�irr��wcr tiltnll mri cuusc or permit thc prescncc, use. Jisposul, storagc, or rcic:�sc of any
<br />;`',� Hur.�u'dous tiul�slnucc.r ut� ur In thr Ihaperly. liorruw.r shnll not du, nor allow anyone clse to do, anythin� affecting the
<br /> 1'roperry tl�ut Is in vluhUiun nf uny 1?nviruumr�tl�d Lnw. 'i'hc prcccding two scntcnces shall not upply to the presenc�, use, or
<br />,�:� titurugc un Uic I�n�Iurly uf ynuill quunlltic+��P I�u�iirdouti 5ubstiuucs thut arc gencrully recagnizcd to bc appropriate to normul
<br /> = reyidenti;d uscs uu�1 tu ntnhttcni�ncc��Y Il�c{'ru��rr�y.
<br /> i�ouo a o�a Form 302U 9/80
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