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<br /> "' � puyments iiiuy no lon�er be reyuircd,at the option of Lcnder. if mortgage insurnncc covcruge(in the nrnount and fur thc perlud
<br />=�„R,_��t� �," thnt I.�:nder requires) pmvideci by an insurer Appraved by I.ender uguin becames avuiluble and is obtained. Borrower shall pay
<br />„�M`. . , thc premiumti reyulred to maintuin mortgAgc insuruncc in cffcct,or to providc a loss rescrvc, until thc requircmcnt for mortgiigc
<br /> rx��"�� • insurunce cnds in accordauce with any wrltten agreemc�u bctween Borrower und Lcnder or upplicuble Inw.
<br /> = 9. Inspection. [.cndcr or its agent may make reasonable entries upon und inspectinns of the Pmperty. Lcndcr shadl givc
<br /> ~'•��"�.�� Borrowcr notice ut the time of or pric�r to an inspection specifying rcasonuble cuuse for the inspection.
<br /> — — 10. Condemnation. The proceeds of any awurd or claim for dumuges, direct or consequential, in connection with uny
<br /> _-•' ,s•. condemnation or other taking of uny pnn nf the Property,or for convcyancc in lieu of conJemnution, arc hereby ussigned und
<br /> -'-9-w";:°,�e� shall be paid to Lender. �
<br />;;,�:;''., In the event of a total taking of the Propeny, the proceeds shall bc npplied to the sums sccured by this Securiry Instrument,
<br />.'`_'�`"''r G whether or not then due, with any exccss paid to Borrower. In the evcnt of a partiul taking of thc Property in whicL� the fair
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<br />,=�;;,;�' m�rket value of the Property immediately before the taking is cqual to or greutcr than the umount of the sums secu�i by this
<br /> "•"��� Security Instrument immedlately before the taking, unless Borrower und Lender otherwise ugree in writing,tlte sucns secare,cfl(oy
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<br /> _—_ -- this Security Instrument shull be reduced by the r►mount of the praceeds multiplicd by the following fraction: (a) ¢i2c uo7a1
<br /> _=—_- amount of the sums securcd immediately before the tnking, divided by (b) the fair market value of the Properry immedia:ely
<br /> ___--_- before the tukin�. Any balence shnll be paid ro Borrower. In the event of u partia! taking of the Propert� in which the fnir �
<br />--------T — market value of the Property immediately before the taking is less than the amount of the sums secured imem.�diat:ly before the
<br /> takin�, unless Borrower and Lender otherwise agree in writing or unless applicable law athenvise provides, the proceeds shall
<br />_=:-?��""��! be applied to the sums secured by this Security Instrument whether or not the sums ure then due.
<br /> ---� If the Property is ubandoned by Bonower,or if,after notice by Lender to Borrower that the condemnor offers to meke aa
<br />_="����! award or settle a claim for damages, Borrower fails to respond to L.ender wichnn 30 days after the dare a�:e notice is given, _.
<br /> �- °-- Lender is authorized to collect and apply the proceeds,at its option,either ro restorAtion or repair af t7�� Property or to the sums =
<br />— — secured by this Security Instrument, whether or not then due.
<br /> - °• =;� Unless Ixnder and IIorruwer othenvise agcee in writing, uny application of proceecls to principal shall not extend or
<br /> � postpone the due date of the monthly payments referred to in paragrnphs 1 and 2 or change the amount of such paymei�ts.
<br /> I1.Borrower Not Released;Forbearunce By Lender Not a Wniver.Extension of the time for payment or modification —
<br /> — of amortlzation of the sums secured hv this Securitv inctrnment aranted hv f rndrr tn nnv a�orncmr in intrrect of A�rrowe.r shnll
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<br /> .— not operate to release the liubility of d�e original Borro���er or Borrower's successors in interest.Lender shall not be required to
<br /> "°`",;?� commenee proceedings against an��successor in interest or refuse to extend time for payment or otherwise modify amorti�ntion
<br /> -- of the sums secumd by this Security Instrument by r�son of any demm�d mude by the original Borcower or Bonower's
<br /> successors in interest. Any forbearance by Lender in exercising uny right or remedy shall not be a waiver of or preclude the
<br /> exercise of any right or remedy.
<br /> 12. Successors and Asslgns Bound; Joint and Several Llablflty; Co-sl�ners. The covenants and Agreements of thfs
<br /> Security Instrument shall bind and benefit tl�e successors nnd assigns of Lender nnd Borrower, subject to the provisions of
<br /> paragruph 17. Borrower's covenants and agrecments sh�ll be joint nnd several. Any Borrower who co-signs this Security
<br /> Instrument but does not execute the Note: (a) is co-sisning this Security Instrument only to mortgnge,grant and convey that
<br /> Borrower's interest in the Property under the terms of this Security Instrument;(b)is no1 personally obligated to pay the sums
<br /> securad by this Security Instrumenr,and(c)agrees that I.ender and any other Borrower may agree to extend, modify,forbear or
<br /> make uny accommadations with regnrd to the terms of this Security Instrument or the Note without that Forrower's consen±.
<br /> 13. Lann Chargts.If thc loan secured by thi�Security Instrument is subject to a law which sets rnaximum loan charges,
<br /> and that luw !s finally interpreted so that the interest or other loan chur6es collected or to be collected in conneetion with the
<br /> loan excecd the petmiited limits,dien: (n)uny such loan chuge shall be reduced by the amount necessary to recluca the chargc
<br /> to the permittcd fimit; nnd(b)any sums alrcady collected from 8otrowcr which excceded permitted limits will be refunded to
<br /> Borrower. Lender may rhaose to muke tt�is refund by reducing the principal owed under the Note or by makinp a direct
<br /> __ payment to 13orrower. If a refund reduces principal, the reductian will be treatai as a partial prepayment �vithout any
<br /> prepayment charge und�r�ne Note.
<br /> `��--�— 14.�lotfecs. Any noticc:.v Borrower providecl for in this 5ecurity Instrument shall be given by deliveriaar it or by mailin�
<br /> it by first class mnil unless applicable law re.quites use of another method. The notice shall be directed ta the�rnpPrty Address
<br /> or any otlier nddress Borrower desi�nates by notice to Lender. Any notice to L.ender shall be given by first class pinil to
<br /> L.ender's aJdrcss statsxi l�erein or any other address Lender designAtes hy notice to Bonrower. Any notice provided for in this
<br /> Security Iastnm�cnt shall I,e deemed to i�nrre been Siven to Borrower ar Lender when given as provided in this paragraph.
<br /> — Is�.Governi»g I,aK•; 3evernb611ty. This Security Instrument sl�all be governad by federal law and the law of the
<br /> _ jurisdiction in wi�ich the Praprrty is locatad. In the event thnt any provision or clause of this Securiry Instrument or the Note
<br /> __ conflicts with applica�le law,such conflict shall not affect other provisions of this Security Instrument or the Nate which cnn be
<br /> given effect without thc conSicting provasion. To this end the provisions of this Security Instrument und the Note urc dcclarcd
<br /> - - _� to be scverzbl�.
<br /> 16. Borrower's Copy.Borro�ver shall tre given ortc conformed copy of tlie Note and of this Securicy Instrument.
<br /> ' Farm 3028 9/80
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