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<br /> - .,.. �—� pryment�m�y no lon�er be roquired,w thc option af Lendcr, if mortga�c insurancc covcra�e (in thc amount and for the perial
<br /> _,��;�;W,�;��.�r-� th�t L.cnder rcquircc)provided by nn insurer approv��d by l.ender aQuin beromes uv�ilable orxl is ubtninal. Borrower sh�ll QAy
<br /> .���5�-- °- the prcmjums rcquirod to malntain modg�c insu�nce in effect,or to pravide a loss rescrva,untjl the requirement for monge�e .
<br /> -- - �.��`; imuranca ends in accordance with any writun ogrocrnent betwecn Bocrow�er w�d�r or upplicAble law. ��r shall ive
<br /> _ ., '., q. I�p�ctiap. l.ender or itc agent may make rcac�naMle ent�x u n wd in• liont of the Property• �
<br /> � � ` Burrower notice at the time of or prior to an inspoction spocifying masonable cuuse for the inspection.
<br /> "�`:�s� 10. Coodeouwtion. 7'he Proceeds uf anY owud or claim for dort�uges. direct or consequential. in r�nne�Kion wi�h any
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<br /> ^�_,:,,.'""',;.'.:,''�,w =° condemnation or Mher taking of any put of the Property,or for conveyance in lieu ot'condemnatian, arc hereby auigned and ���
<br /> .. ��`�'r,w�n•�..;�- �luli be paid ta Lender.
<br /> �.�:_: ..� � [n the event of a towl talcing of the Pioperty,the proceeda sball be applied ro the suma secured by this Sec�dty Inst�ument.
<br /> `;'�,x��� , whether or not then due, with any excess p�id to Borrower. In the event of a paninl ts�k(ng uf the Property in w�icM,Fhe fa�r
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<br /> morket velue of the Property fmmediotely beforo the t a k ing is equ�l ta or greater �han the anwunt of the wms sc:curc:d,pY �s.,.
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<br /> . ,o Socuriry Instn�ment immediately before the w�ing,unless Borrower and Lcnder othenvisc agrce in writins, the sqnag§c�:uracl by
<br /> ., .�`� ' tLis Se�,�u�ity Instrument shall be reduceA by the amount oY the proceeds multiplied by the following fractiqn:,(A1 t�e ww1,, ,:
<br /> • amount of the sums sa:urcd imn�ediutcly before the taking. divided by (b)the fair mackct v��,p�t�.�'.�hy i�i,atq� „
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<br /> befone the tak�n8• AnY bs►la�e shal� be Pa�d to Borrower. In the event ot u partia) takjn� af ihe Propetty in which.the fur
<br /> _- v' • ;�^� �� muket value of the Property immediAtely before thc ta�ing is less than the.aW�W!ttt.Rf the Furns secured imn�ediately before Ihe _
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<br />- ..1•,,,:;,..•,:,:;;.:�'••.;;, ulcin�,unless Borrower and Ixnder othec►'vi�e agro�in w�iting qr uRl�apPllc�ble Ir�w aherwise provides.the proceeds sholl
<br /> .° . . '•; � • ��p1led wt�c sums secu�+ed by this S.ecurity lourument whethcr�nr not the sums are then duc.
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<br /> --- `�a� ',;;.,,�. If the property is abandnned by Borrower.or if.after nwice 6y Lender to Borrower ihat the condemnor offers to make an
<br /> - •. �;a:.�� � awrarci oe settle a claim for damages. Borrower fails lo respond to Lender within 30 days afler the date the notice is given, --
<br /> .--��'--�'. .. , . Leruler is swihodzed to collect and apply�he proceeds.at its option.either to restoration ar�pair of the Pcoperty or to ihe swnc
<br /> - secured by thfs Security Insaument,whether or not the�due.
<br /> �.�� : " Unless l.ender �►d Barrower otherwise agree in wriunB. a"Y ePP��ca��on of procc�eds�o principal shall not eatend or
<br />=-.:� , postpone the due date of the monthly payrnents referred to in puragraphs � and 2 or change the amount of such payments.
<br /> , ' � 11,Borrnwer Not Rele�ced;ForbearAtk'e By Lender Not a Wpiver. Bxtension of the time for payment or modification
<br /> ' � " of amortization of the sums sceured by this 5ecurity[nstrument granted by Lender to any successor in interest of Borcower shall
<br /> �.: ', „ � nat operate eo nelease the liability of the original Borrower or Borrower's successors in interext. l.ender shall not be required to
<br />,:.�,-,;; • commence proceodin�s against any successor in interest or refuse to extend time for payment or otherwise modify unonization
<br /> �. of the sums zecured by this Security Instrument by reason of any demand made by the original Borcower or Borrower's _ _
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<br /> iucoessors in interest. Any forbearance by Lender ia eaercising any right or remody sltoll not be a waivet of or preclude the
<br /> :,.�', cxcrcise af my riglH or remedy.
<br /> . l2. Saocescurs ond Acsl�ns Bound; Jolat and Several Liabfllty; Co-signe�. The covenants and agreemenu of this
<br /> � Security instrument shell bind and benefit the successors and assigns of Lender and Borcower, subject to the provisions of
<br />- � paragraph 17. Borrower's covenants and agrecments shall be jaint anJ sever.�l. Any Boerower who casigns this Security „�;;�;
<br /> ' lnstrument but dces not execute the Nae: (a) is casigning �his Security Instrurnent only to mortgage, grrnt and convey that '•�;�T,;-�;�:
<br /> Borrower's intecest in the Property under the tertns of this Security Instrumenr (b)is na personally oblig�ted to pay the surr�st �
<br /> �• " securcd by this Securiry Instrument;and(c)agrees that Lender and any other Borrower rnay agrce to extend,modify, forbear or ___
<br /> make any accommodations with regard to the terms of this Security Instrument ur the Note without that Borrower's consent.
<br /> � , • l3.I.oan Clwrges. If the loan socured by this Security Inscrument is subject to u law which sets maximum loan charges. ��:,:,.::r=�
<br /> �� `s . end that IAw is finally interpreted so that the interest or other loan churges collocted or ro be collected in connectiun with the �`^"
<br /> � • ' • loan excr�d the perniitted limits,then: (a)cuiy such laan charge shall be reduaxi by Ihe atnount necessary to reduce the chuge �-�'�`��=F�=�`�
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<br /> � • to tf�e permitted limit;anJ(b) uny sums already collected from eorrower which exceeded pertnitted limits will be reiunded to
<br /> •. Borrower. Lender may choose to make this refund by n:ducing the princip�l ow�:d under the Note or by malcing a direct �'.
<br /> � payment to Borcower. If a refund reduces principal. �he reduction will be treateci as s� partial prepayment without any �_ �-J=---�_
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<br /> :,���' _ " prepaymentchc►rge under the Nate.
<br /> 14. Notices. Any notice to Borrowcr p�ovided for in this Securiry Instrument shsll be given by dclivering it or by mailing .��,`�'��
<br /> . it by first clnss mail unless applicuble law requir��,use of another method. The notice shdl be directed to the Property Address �
<br /> •�!`'•�.. or any otl►er addres.c Borrower desig�atey by notice to L,ender. Any notice to l.ender shall be given by first class mail to �
<br /> ' Lendtr's address stated herein or any ahcr addrcss l.ender dcsignates by no�ice ro Bc►rruwer. Any notice provided for in thia �._.a--
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<br /> ` Security Instrument shall be deemed to havc been given to Borrower or LenJer when given us provided in this puragnph. ,_:-_
<br /> • . 15. Governiag Lnw:Severabilfty. This Security Instrument shall be �ovemed by federnl law and the law of the [;���-�� "
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<br /> jurisdictiun in which the Property is laatai. In the event that uny provision or cluusa:of this Sccurity Instrument or the Note � �,._� ,
<br /> � ' ' conflicts with applicable law,cuch conllict shall not uffect other provisiuns uf this Security Instrun�ent or the Note which can be i
<br /> • � �� given e(fecl wi�hout the conflicting provision. Tu thix end the provisions of this Security Inurument and the Note are declared �
<br /> to be xverable.
<br /> . 16. Borrower's Copy.Borrowcr shall be given uiie wniurn�J copy uf�he Note�I uC this Scwrity Inswment.
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