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<br /> paymcnts may nu langcr bc rcquiraJ,ut thc option of l.cndcr, if martqngc insurancc covcrAgc(ln thc amount nnd for thc period
<br /> shat Lender reqs�ires)provided by un insurer npprnved hy I..c;nder asnin becmne:c nv�ilnble c�ncl is obtained. Durruwer shull p�y
<br /> th�prcmiums requircd to m�intain moiKgagc insurance In cffcct,ur to providc u lass reservc,undl thc requlrcmc+nt for�nortg±agc
<br /> _ insurnnce ends in�.ccordrince with any written ngrcement betv�ecii Borrower nnd L.ender ar appllcuble luw.
<br /> _� �•detsP=::2(on• Lcnder o�•it,ngcnt may make r�asonnble cntrics upc�n and inspection9 of the Praperty. Li:nder Shall sive
<br /> Borrower notice nt the time af or prior to An inspection spccifying re�sa�uble cause fur the inspcction.
<br /> 10. Condemnatian. The proceecls of any �wc�rd or claim for dnmages, direct ur caisequentinl, in conncctian wiih any
<br />— condemnutIon or other tnking af any purt of the Property,ar for conveyance in lieu of condemnation, am hereby assi�ned nnd
<br /> shull b�:pnid to I,endcr.
<br /> in thr,event of a totul tuking of ihe Propeny, tl�e proceeds shnll be applicd to the sums sccured by this Security li�s¢rumcnt,
<br />_.� whether or not thcn due, with auy excess paid to Borrower. !n the cvent af a partial taking af the Property in whtch the fair
<br /> murket value of the Property immediately before the taNing is ec�ual to or g�rater than the amount of the sums sectired by this
<br /> Securiry Inr,trument immedlatcly before the takin�;,unless Borrower and Lendcr otherwisc agree in w�iting, the sums secured by
<br /> this Security Insteument shall be reduced by the amount of the proceed� multiplied by the follo�ving fractian: (a) t�io tot�
<br /> amount of thu sums secured immediately before the taking, divided by(b) the tair markct value of the Proporty inunedintely
<br /> before the taking. Any balancc shall be paid to Borrov�er. In the event af u partial takin�of the Property in whfch the fair
<br />_ markeCvalue of tt�.e Propetty immediately before the taking is less than th� amo��nt of the sums secured immcdIately before the
<br /> taking,unfess l3orrower and Lender othcnvise ugree in writing or unlcss applicable law othenvise provides, tho proceedv shsill
<br /> t►e applicd to the sums secured by this Securiiy Instrument whether or not the sums aro then due.
<br /> If the Property is abandoned by Barrower,or if, after notice by Lender to Borrower thnt the candemnor offcrs t� make an
<br /> awurd or settle a claim for damages,Borrower fails to respond to Lender within 30 days after the date the notice iy given,
<br /> Lender is authorized to collect and apply the proceeds,at its option,eIther to restoration or repair of d�e Property or to[�ze surns
<br /> secured by this Security Instrurnent, whether or not then due.
<br /> Unlcss Lender and Borro�ver o�henvise agree in writing, any application of proceeds to principal shall not exYend .�r
<br /> postpone the due date of the monthiy payn�ents refened to in paragraphs 1 and 2 or chaage the amount of such payments.
<br /> 11.Borruwer Not Releacei3;Forbearance By Lender Not a Waiver. Extension of the time for payment or mudi�cntion
<br /> of amortization of the sums secured by this Security Instrument granted by L,ender to any successor in interest of Bc�rrower shall
<br /> _ r.ot operate to relcase the liabiliry o.f the original Borrower or Borrower's suocessors in in.�p���r. �.P�r shs!!nct b:...Y.:.,r�: t�
<br /> – �:i,i�w�cnce pr�ings aga�nst any siiccessor in interest or refuse to extend time for pAyment or othenvise modify arao��:ation
<br /> of the su�ns securod by this Security Instrument by reason of uny demand made by the original Bonower or E�cr.aaer's
<br /> suc�cessors in interest. Any forbearance by Lender in exercising any right or remedy shall not bo a w�iver of or pncYuda tha
<br /> • exercise of any right or remedy.
<br /> i: 12. Succ�ssors nnd Asstgnv Bound;Juint und Several Liabiltty; Castgnere. The covenants and agrcemer.�s r�f this
<br /> `
<br /> Security Instrument shall bind and benefit the successors and Assigns of Lender and Borrower, subject to tho provas`x�ns of
<br /> �, paragraph 17. Borrower's covenants end agreements shall be joint und several. Any Borrower who co-signs thie Security
<br /> Instrument but dars not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that
<br /> � Borrower's interest in the f+roperty under thc terms of this Security Instrument;(b)is not
<br /> secured by this Security Instrument; and(c)agrees that Lender and any othcr Borcower may agreeatoyexte dAtn�iodify,fo�a�hear or
<br /> , make any accommodntians with regurd to the terms of this Security Instrument or the Note without that Borrower's conFea�t.
<br /> d3.Loan Ct�arges,If thc loan securod by this Security Instrument is subject to a luw whach sets mnximum loan e;T 1:;�es.
<br /> atxl that law is Gnally.interprcted so lhat the intenest or other I�an charges callectad or to be collected in conne,ction w.it��el�e
<br /> loan exc,eed the perm;tta�limits, then:(a)any such loan charge shall be roducrd by the :unount necessary to reduce tha chazge �
<br /> . to the pernutteQ lirnit;�nd(b)any sunis alrcady collected from Borrower which exceeded pernutt�xl limits will bo refunded to
<br /> . Borrower. l:�:a�der may choose to malcee this refund by roducM� the principal owed t�nder the Note or by mAlcinII a direct
<br /> , •• payment to 'Borrower. If a refund reG�ces principal. the rec�iiction will be tre.zted as a pani�l prepayment widiout any
<br /> . prepayn�ent charge under the Note.
<br /> r l4.Notiees.Any natice to Borrower provided for in this Security Instrurncnt shall be given by deliv�r;ing it or by nt�iling
<br /> . it by first class mail unlcss applicable law rcquires use of nnother method.'I7tc noticc shall bP directed to the Propeny AddnSS '
<br /> . or any other :xldress Borrower designates by notice to I,ender. Any noticr, to Lender shall be given by first class nzait to
<br /> Lender`s address statod herein or ar,y other address Lendcr designates by noticc to Borruwer.Any notice provided far in this
<br /> : Security Instrvment shall be deemed eo have I�ecn given to Bom►wer or Lender when given as providal in thfs parag��tph.
<br /> 15.Coverr�ing Law; Seyerubility. This Serurity Instrument shall be �ovemcd by fedcral law and tho luw ofthe
<br /> , jur.sdiction in which the Propeny is located.in t`�e event that ony provision ar clause vf this Secnrity Instrument or tlta Note
<br /> c»nflicts with applicable law, such oonflict shall not affect other provisions of d�is Secutity[nstrument or the Note whicl�crin be
<br /> , �;iven effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declu�d
<br /> to be severable.
<br /> �
<br /> 16.Borrower's CQ�,gorr��,cr shal l bc given ane rnnformed copy of the Note and of this Securiry Instrument.
<br /> Fornt 3028 9/80
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