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<br /> • substEintially equivnlent mortgage insurnnce coverage Is not nvnilable, Borrawer shall pay to L�:nder each month a sum cq�al to
<br /> ane-t�velfth of the yeaely mortga�c.ie�surarce premium bein�paid by Borrrnyer when the insurance coverabc lapsul ur c�ased to
<br /> Ue in cffcct.I.cndcr v�ill nccept, usc and retnin these pnymcnts as n loss reserve in lieu of m�rt�agc insuruncc. [..oss reservc
<br /> paymcnts may no lon�;cr be reqoa�•ecl, nt ihe�ptinn of L.cndce,if murt��gc insurance c�vcrugc(in the amount nnd for thc perioc��
<br /> thnt I..ender requires)provicled by an insurcr appruvcd by Lender ugntn becomcs available nnd is obtaineci. Q�rrowcr shall pay"`
<br /> the premiums rec�uired to maintain mongAge insuranee in effect,ar to provide u lass reserve,until the requirement far mortgage�.
<br /> insurnnce ends in nccaidance with ai►y written agreement betwecn Bnrrawer and Lender�r applicable law,
<br /> 9. Inspectlon. Lcndcr or its nsent may make rcasonRblc cntries upon and inspections of tl�e Praperty, Lcnder shall givc�
<br /> Borrower notice ut tlie time of or prior to an inspectian specifying reasnnable cause for the inspection.
<br /> �4� CO»�!�„»>?t+O�. The�!'oceetls nf nny nwnrd or clnim for da�na�es. direct or consequentiul, in connection with an.d
<br /> condemnatiun a-��ther taking uf any part of the Pr�perty,or for conveyance in liea of condemnation, nre hereby assiIIned an ,y
<br /> shell be pald to L.ender. � -
<br /> Yn the cvent of a total taking af the Properly,the proceuls snull be uppliuI tu ihc sums sr�;w•ul by tbl. Secu�7[y i��st�u��jent�
<br /> whethcr or not thcn due, WIIII Ally C?(CCSS patd to Borrower. ln the event of u pnniul taking of the Praperty in which the faJ�
<br /> market value af the Property immediately before the taking is equat te�or greater than the amount of the sums secured by this
<br /> Security lnstrument immediately befare tt�e taking,unless Borrower nnd Lender otherwise agree in writing. the sums sccured by
<br /> this Security Instrument shall be reduced by the umount of the procecds multiplied by the foltowing fraction: (a)the tatai
<br /> nmaunt of thc sums secured immediately before the takin�;. divided by(b) the feir market value of the Property immediately _
<br /> before the takins. Any balance shall be paid to Borrower. In the event af a partial utking of the Property in which the fnir
<br /> market vuluc of thc Praperty immcdiatcly bcforc thc taking is Icss than the a�nount of the sums secured immediately before the
<br /> takin�, unless Bonower and Lender otherwise agree in writing or unless applicuble law otherwise provides, the proceeds shall
<br /> be appllecl to the sums secured by this Sccurity Instrument vvhether or not thc surns are then due.
<br /> If the Property is abandoncd by Borrower, or if, after notice by Lender to BnnoY�er that the condemnor offers to makc an
<br /> award or settic a claim for damages, Bonower fuils to respond to Lender within 30 days ufter the date the notice is given,
<br /> ' l..ender is authorized to collect and apply the proceetls,at its option,either to restoration ar repair of the Propeny or to the sums
<br /> secured by/his Securiry Instiument,vahether ur uot then due.
<br /> Unless L.ender snd Borrower otherwise agree ln writing, any applicatIon of proceeds to principal shall not extend or
<br /> postpale die due date of the monthly payments referred to in paragraphs l and 2 or change¢he amount of such payments.
<br /> 11.Borrower No4 Released;Forbearance By L.ender Not�Walver.Extensian of the time for payment ar madification
<br /> of amortization uf the sums secured by this Security Instrument granted by I.ender to any successor in interest of Borrower shull
<br /> not operate to rclease the liability of the original Bonowcr ar Bonower's successors in interest. Lender shall not 6e required to
<br /> commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amartization
<br /> of the sums secured by this Security Instrument by reason of any demand mude by the original Horrower or Borrower's
<br /> successors in lnterest. Any forbearanccs by Lender in sxercising any right or remedy shaU not be a waiver of or preclude the
<br /> exercise of any�ight or remNdy.
<br /> 12. Successors and Assigns Bound; Joint and Several Ltability; Casigners. The covenants and egreements a�f this
<br /> Security Instrument shull bind and ber�efit the successors and assigns of I.ender and Borrower, subject to the pro��isions of
<br /> paragrapli 17. Bonower's covcnants and agreements shall bs joint and several. Any Bonower who co-signs this Se,curity
<br /> instmment but does no[execu[e [ne i3oce: �aj is co-si�ning ini� Su:ucity I��si;��i,cr�t arty i:, marigagc, grar,t «t�r.c:s:'�y lhs:
<br /> Borrower's intenst in the Property unde:the terms of this Security Instrument; (b)is not personally obllgated to pay the sums
<br /> secured by this Security Instrument;and(c)agrees that Lender and any other Borrower may agree to extend,madify.forbear or
<br />` make any accommodntions with regard to the terms of diis Security Insuument or the Note w�thout that Borrower's consent.
<br />. 13. Loan Charp,es.If the loan�ecured by this 3ecurity Instrument is subject to a law which sets maximum loan churges,
<br /> and that luw is 6nally interpreted so that the interest or other loan charges collected or to be collected In connection with the
<br /> laan exceed the permitted limits. then: (a)any such loan ci�erge shall be reduced by the amount necessary to reduce the charge
<br /> to the permitted limit;and (b)any sums already cnllected from Bonower which exceeded permitted limits will be refunded to
<br /> Borrower. Lender may choosc to make this refund by reducing the princlpal owed under the Note or by making a direct
<br /> payment to Borrower. If a refund reduces principul, the reduction will be treated as u partial prepayment without any
<br /> prepayment charge under the Note.
<br /> 14.Notices.Any notice to Borrower provided for in this Security Instrument shall be given by d.elivedng it or. by mailing
<br /> it by first class mail unless applicable Inw requires use of anodier method. The notice shall be directed to the Property Address
<br /> or any other nddress Bonowcr designutes by notice to Lendcr. Any notice to Lender shall bc given by first class matl to
<br /> Lendcr's address stated herein or any othcr address Lender designates by natice to Borrower. Any noticc RravIded for in this
<br /> Sccurity Instrument shall be deemed to have been given to Borrmver or Lender when given as provided in this puragraph.
<br /> 1S.Governing Law; Severabfiity. This Security Ynstrument shall be governed by federal law and the law of the
<br /> jurSsdiction in which the Property is locnted. In the event that any provisian or clause of this Security Insttument or the Note
<br /> cnnflicts w[th applicable law,such conflict shall not affect other provisions of this Security Instrument or the Note which can be
<br /> gi��en effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are dec:lured
<br /> to be severable.
<br /> 10.Surruwer'y wpy.Bui ruwei a{�a31 uc�,irou ui�z to;ifon:iw copy oF U�c;:otc and of ihis Sccu;ity Ittslfifii.Ci1:.
<br /> 17.Trat�sfcr of the Property or u Beneficial Interesi in Borrower. If all or uny part of the Property or any intemst in it
<br /> is sold or tr:u�sfened(or if a beneflcial interest in Borrower is sold or transferred nnd Bonower is nat a natural person)without
<br /> Lender's prior w�itten consent. Lender may, at its option, r uire immecliate payment in fuil uf all sums secured by this
<br /> • Security I�strument. However,this option shall nat be exercised�y L.ender if exerc�se is pmhibited by fecieral law as of the date
<br /> . of th�s Security Instrument.
<br /> If L.ender exercises this uption, Lender shall give Borrower notice of acceleratlon.The notice shall provide a period of not
<br /> � less than 30 days fram the date the notice is delivered or mailed within which Borrower must pay all sums secured by tttis
<br /> Security Instrument. If Horrower fails tu pay these sums prior to the expiration of this period, Lender may invokc any remedies
<br /> � pernutted by this Security Instrument without further notice or demund on Borrower.
<br /> 18. Borrower's Rl�ht to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have
<br /> entarcement of this Security Instrument discontinucd at any time prior to the e��rlicr of: (a) 5 duys (or such other period as
<br /> npplicable law may specify for reinstatement) before sate of the Property pursuant to any power of sale contained in this
<br /> 5ecurity Instrument;or(b) entry of a judgment enforcing this Sec:urity instrument.Those conditions are that Borrower:(a)puys
<br /> Leodcr ull sums which then would be due under this Sccurity Instrument nnd the Note as if no accelcmtion had occurred;(b)
<br /> • cares uny dcf�ult of any other weenants or ugrcements;(c)pays all expenses lncurred in enforcing tl�is Security Instr�ment,
<br /> � includtng, but not limited to,reasanablc nttorneys' fees;and(d) takes such action ns Lender may reasonably require to assure
<br /> that the lien of this Security Instn!ment, Lender's rights in thc Propeny and Borro�ver's oblig:►tton to pay the sums secured by
<br /> ' this Securitv Instrument shall continue unchan�ed. I)pon reinstatement by Borrowcr, this Security Instrument and thc
<br /> ' abligatiuns secured hereby shall remain fully effective as if no acceleratinn had occurreci. However, this right to reinstate sftall
<br /> � not apply in the c:ise of acceler,�tion under parngraph 17.
<br /> �. 19. Snle of Note; Changc of Loan Servlcer. Tlic Note or a partinl interest in thc Note (togcthcr with this Sc;curity
<br /> Instrument)may be sold one or more times withcut prior notice to Borro�vcr. A sale may result in a change in thc entity(known
<br /> � as the"Loan Serviccr")that mllects monthly paymcnts due under the Note and this Security Instrument.Therc also may be onc •
<br /> or more changes of the Loan Servicer unrelated to a sale of thc Note. If thcre is a change of the Loan Scrviccr, Borro�ver will be �
<br /> given written notice of the cl�ange in accordance with paragraph 14 above and applic;►ble law•.Tlie notice will state the name and
<br /> address of'the new Loan Serviccr and the address to whictx payments should be mude. The notice will also contuin iiny other
<br /> information required by applicavle law.
<br /> 20. Ha�ttrdous 5ubstances. Borrowcr shall not aiuse or permit the presence, use, disposal, storage, or rclease of any
<br /> Haznrdous Substances on or in thc Property. Borrowcr shall nut do, nor allow anynne clsc tu do, anything affccting thc
<br /> Property that is in violation of any Environmentul Law.'I'he prcrcding two scntences shull nut upply to thc prescncc, use, or
<br /> stora�e on thc Property of small yuantities of Huzarcious Substanccs that are�;enerally recognized to bc appropriate ro normul
<br /> residentiul uscs and ta maintenancc of the property.
<br /> N000 a oi a Form 3028 9/80
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