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<br /> �`:` t ' substantially equivalent mnrtgage ia�ursnce r��verage ic not available. Burro.�er�hall pay tu Lrnd�r ra�h month a,umequal to ';.� : E ',
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<br /> < �� ostc-t+uekft}t of the yearly mortgage insur.u�ce premium being paid by Borruaer��hen the inrurancr�u��rragr lap�c�i��r crased ta _
<br /> be in eff�t.I.eader will accept,a,e and retain these payment+as a loss rcsen�e�p liw at m��rt};age in,urance. Lc��+ r��rve�
<br /> -� �� �`t;-t`?_": � pa}•ments may po longer 6e nquired.at the option of Lender.if mortgage in.wrare�ti�u�cr:►gr tin th:anwunt:ind(ur thc�'x�� ,
<br /> ���. , that I.ender requires)pro�ided by an iruumr appmv�b} Lender again beuomr+available and�ti uhtsincvl.&�rro«cr.lwll s :,':��.. ,;,�. ;,
<br /> .. che premiums require.d to maintain mortQage insurance in effixK.or a�pro�ide a l�s..retien�.until the rey�ire�nrnt fi�r mnngage� .`�:•�„ �� , � r.,
<br /> ' ' insurance ece$ti in accordance with any written agreement bet�b•een Borcow'er and L.eoder ur appliraf+tc law. ,, , ,.
<br /> . . 9.Inspecttoa Lender or its agem may malre rea-tion:ible entries upon;uid impctiuun��,t th�Propeny. Lxnder.hall givc� . . •'' 4 •.:..`
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<br /> ' � gorrowrr noace at the time af or prior to an inspecdon specifying rea+onable r�u+e fi�r[he in�p�titiun. ., . .,,, ,
<br /> � ''��,, .. . t0. Cottdemnation.The proceeds of any awani or cla�m fnr d:m�age+. direct or r�,n.c,�yuentia►. in connecttun nith any 0 ,
<br /> �� � condemnation or other taking of any part of the Property.�r for mnveyancc in tieu of cundemnatum.are hereb� a.+ign�Yi:md� ' ; s .
<br /> . . . ... � sttall be paid to Lender. . ` `
<br /> • `� � In the ecent of a tatal taking uf[he Propecty,the proceeds�ba��be applied to the�Lms�ecureJ by this Sec-uric>' Instrwnen t. � .o.
<br /> � . �,� whether or not then due.�sith any exc�+.+paW to Borm�ver. in the e�•ent c�f a p:utist taking af the Pruperty en which the fair `
<br /> market value of the Property immediately before the taking is equal to ur greatcr than the:unount of tl�e.ums set-urcd by this + `�: �
<br /> ` ��"`__.� Securiry la,trument immediately before[he taking.unless Bnrrower and Lxnder othersri.e agrce in��ritin};.the aunti+�ecured by _,.�.°,
<br /> � [his Security [nstrument shall be reduced by the amaunt uf the pmceeds multiplieJ 6y the followinr fraction: tal the total _�
<br /> ,�� . :.�'`;.` amount of the sums secured immediately befare the takins,divided by Ib1 the fair market value of the Property immediately _ .�.�
<br />- , l; before the taking. Any balance shall 6e paid to Borrower. In the event af a panial taking of the Property en which the fair . ,
<br /> �=;°� <<4 �rwrket value of the Property immediately before the taking is less tlean the��ble aw othenvi e provides. t�hetProceeds shall � ��
<br /> � �' taking,unless Bocrower and I.ender othenvise agree in writing or unless app� �°° :_
<br />'�< '•. ' ' . : �`j`� he applied to the sums secured by this Security lnswment�vhether or not che sums are then due. __ ___ ._
<br /> • . if the Property i,abandonc�by Borrower.or if.after notice by Lender to Born�wer that the condemra�r�ffers to make an � _
<br /> ` ' award or serle a claim for damages. Boanwer fails to retip��nd to Lender within 30 days after the date the nutice is given. � ,. �� -
<br /> �. � � '.f s`� l.ettder is authorized to collect and appiy the pra:eeds.at its option.either to re�toration or repair af the Property or to the�uin, , .p -,,3 �:
<br /> ' • •� secured by this Serurity Instrument,whether or not then dae.
<br />:�_'` • , _ Unless L.ender and Botrower athecwise agree in writing, any application of proceeds to principal �haH rtot extend or _`
<br /> � �� •. "' `� postpone the due date of the monthly payments referred to in paragraphs 1 and 2 ar change the amoun[of Such payments. �� o•_ _
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<br /> '' ' �' 11.Borrower Not Retea+ed;Fos�bear'aace By Lender Not a Wal�ei'.Extens��n of thc time far payment or modification
<br /> �� '�'�'• of amortizauan of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall �
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<br /> __ _...t.•__� <.'� not operate to release the liability of the oriDinai Borrowec ar Barrowcr's�ucce.ksors in interesl. Lender shall not be requiced to _—
<br /> ;c:: �•�� ` `<'r. commence proceedings against any successor m intercst or refuse to extend time for payment or atherwise�nadify amortization _
<br /> ,� '. •- . • � of thesors in interest. Any�forbearencelby Lender bn exe�re sing any ght or�remedyb ha ienonbe a wai er of nrrprec udeethe , , � _ `
<br /> �:;�' . succes -.�, `.�•,;'�
<br /> ' '�! eaercise of any right or remedy. :
<br />� ' � �' Bound: Joint aad Se�eral l.iability; Co-signers• 'Che covenants and agreements of this :, ��::^-�.W
<br /> _ .. .._}:._ 12. Succ�sors and Assigns .,:._.. .
<br /> ' ' `": Se�.-�cr:ty Instrument shall bind and benefit thc successors and assigns of Lender and Borrower, subject to t6e provisions of f,. ;�,_;�
<br /> - --- --'=-�:z pacagraph 17. Borrew'cr's cavenants and a�rcements shall be jaint and several. Any Borrower who co-signs this Security ��
<br />- ��� , Insuument but does not execute the Note: (a)is co-signing thi�Securiry Instrument only to mortgage, grant and convey that _;�;
<br /> g�- ' • • ' Borrowei s interest in the Property under the terms of this Security Instrument: (b) ia not persanally abligated to pay the snms ,.f*�. _
<br /> ��f.` ._a;'-.;. . "��."• secured by this Security Instnunent:and(c)agree�that Lender and any ather Borrower may agree to extend,modify,forbear or .} . __Y�_
<br /> � � �:.:':`•• • �• make any accommadations with regard to the terms of t his Security Instrumen t or the Note without that Borrowei s consent• .::,; ,,:M=
<br /> ' � ''•`�•�:� ".. 13.Loan Charges.If the loan secured by this 5ecurity instrument is subject to a law which sets maximum toan charges. '`..'.;:y: a--
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<br /> n".' "' • ' and that law is finally interpreted so that the interest or oeher loan charges coltected or to be collected in connection with ihe Y�`
<br /> �;:;_ � ' �� toan exceed the permitted limits,then: (a>any such loan charge shall be reduced by the amount necessary ta reduce the charge _
<br /> �� �,:;ac;.c
<br /> �; � � ' to the permitted limir and (b)any sums already collected from Borrower which exceEded permitteci limits witl be refunded to , , ___
<br /> �` �. `': �" �' Borrower. Lender may choose to matce this refund by re�lucing the principal owed under the Note or by making a direet " __�
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<br /> payment to Bonower. If a refund reduces principal. the reductian �vdl be treated as a panial prepayment without any _
<br /> . prepayment charge under the Note. `' � ' _',_
<br /> • 14.Nottces.Any notice to Borrower provided for in this Security Instrument•�all be given by delivering it otby mailing
<br /> � it by first cla��.mail unless applicable law requires use of another method.The notice shall be directed to the Property Address .�Y�_
<br /> ���'` or any other ad3ress Barrower designates by notice to Lender. Any notice to Lender shal{ be given by first class mail to , �.
<br /> - ' � Lender's address stated herein or any other address Lender designates bp notice ta Borrower. Any notice provided f�r in this '. :: �; -,_
<br />" � ' 5ecurity Instniment shall be deemed to have been given to Borrower or Lender when given as provided in►his paragraph. .. ,:.� �•.'—�
<br /> �'` , . .. 15.Governing Law: Severabillty. Tfiis Securi[y Instrument shall be govemed by federa] law and the law of the _ —____
<br /> -s••, � � " j u r i s d i c t i on in which the Pra p ert y ir located.ln the event that any provision ar clause of this Security lastrument oc the Piote :- .
<br /> '"": ' ! •� conflicts with -'icable luw.such conflict shall not affect ot her provi+ions o f t his S e cu ri t y I n s t r u m e n t o r t h e N o t e w h i c h c a n be _
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<br />_�'�.+� , . ��,.�.;; given effect wit..ee_:the cunflicting provision.To this end the provisians oi this Security Instrument and the Note are declared . . _
<br /> +•=�. �o be severable. ..
<br />�<''' � 16.Borro�Yer's Copy.Bonower shall be given one conformed copy of the Nnte and of this 5ecurity Instmment.
<br /> t-��.. '� � 17.Transfer of the Property or a 8ene�fcial lnterest in Bormw�er.IP all or any part of the Praperty or any interest in it .
<br /> ' is sald or transferred�or if a benc6cial intere.t in Borrower iti sold c�r tranxierred and Bormwcr is nat a natural person)without
<br /> • " Lender'r prior writtcn c�msent. Lcndcr may, at its option, reyuire immediate payment in full of all sums+ecured by this • �
<br /> • . ,. ' ` Security instrument. However,this aption shall not be exercised by Lender if exercise�.prohibited by federal law as of the date
<br /> � of thic Security Intitrumcnt. �
<br /> „�'."k � ' lf Lender exercises this uptian. Lender�hall give B�rrower notice of acceleration.The natice shall provide a period of nat
<br /> � le.�+than 30 day, fram the date the notice iy�elivered or maiie.i within which Borrower mu�t pay aU sums secured by this
<br /> �.. f Sccurity M�trument. li Bnrruwer fails to pay the�e�ums pri��r to the expiration of this period. l.cnder may invoke any remedics
<br /> . . permitted by thi,Security Instrument without further notice or demand on Borcower. •
<br /> . " IS. $orrower s Hight tu Reinstate. If Borrnwer meets certain wndi�ion.. Bnrrower shall have tha right ta have
<br /> �` � � enfotcen�ent of this Securit}� lnstrument Ji.cnntinued at any time prior to the e:irlier of: la) S dnyti (or such other peri�d us : ••
<br /> ` . ' ' • zRplicabtc law may �pecify («r rein.tatcmcntl hcfure tialc af the Property pursuar.t to any power uf+ale contain:d in thi� ;„,,;, :
<br /> � 5ccurily lnurument: or Ihl ertry��f a juJrment enforcin�thi�Seeuriry lntitrumenl. Th��.e cunditian�are that Borrower:(a)pays ;'';,
<br /> � i,cndcr all ,umti�vhirh then wuuld be duc under thiti 5ccurity In>trument and thc tic�tc a.if n��acceleration had occurred: (bf ,:,,
<br /> i� � cures any def:ml� uf any uthcr cuvcnant� ��r agrcements: (c) pays all cxpcnscs incurrcd in cnfi�rcing thi+ Suurity Imtrument. ,
<br />;��•+i- � including, but uut limitcd to, rrawnahlc�ttomcyy' iecti:and Idl takc��uch:crtion a.r 1-.c:ndcr may nawnably rryuirc lv as,ure .
<br /> that Ihe lien��f thiti 5ccurity In�trunient. Lt:ndcr�right,iu the F'roperty and Rurrower'ti obligati��n tu p:ry the sums secured by
<br /> � � � � � thi� Security Imtrumcnt �hall cuntinue anchangeef. Upun reinstatement by &mourer, thi.r Security lnstrument and the .
<br /> • � . � . obligati«m,ccured hereby�hall rem�in fully effective u.�f no acceleration had occuned. Howevet. thi+right tn reinstate yhall .
<br /> c'- , not apply in Ihc ca,c uf:�cccleralion under para�raph 17. .
<br /> �, : lg, 5ate oP Nute: Chan�e of l.�un Servlcrr. The N��tc ur a p�nial intcrc�t in thc Nute (together w•ith Ihix Security
<br /> ' • � ' ln+trumcnU may hc�oIJ onc or murc timcs���ith�wt�ri�.r noticc to Barrua•cr. A�alc may rc.ult in a changc in the cntity(knnwn .
<br /> - ' � as the "I.��an Serviccr")�hat cvllect�mnnthly payment�Jue under the N��te and Ihiti Security In�trumenl.There al,o may be one �.� ,
<br /> - 1 or murc changc+of tne l.u:in Servire:r unrelated to a�ale i�f the Nntc. If Ihrre i�a changc of►Ite L,uan Sen�icer.B��rto�rer�vill he
<br /> : �� • ' given wntten nulire af the rhange�n accord:uicc with paragrapli 14 abuve and applicahle law.'The notice will�tate Ihe name and
<br /> � • � addre.���i'the new la,�n Sen�icer anJ 1hr aJJre�r t���vhich paymeut��huulel he madc. The nutire will al�u a�ntain any olher
<br /> . inf�,rmawm rcyuircd hy apphc�hle lau. . .
<br /> Z0. Hazardouti tiubstances. Burn,«cr .hall nat cau+c nr permit t6c pre�rncr. u.c. Jnp�,�:d. .tor�ge.„r rclea.c „f any .
<br /> � ,. � H:vardnu� SuhyllUtl'C� �»� �,r in thr Pruperty. Borrourr �hall not du, nur allu�c :m��mc rl.c a, du, a�i�thing afticting �hc . .
<br /> �- --- • i Propert� tha� i.iu v�ulatiun vf;mq Em•in,nmrntal la«. The pt�crdm= �uv ,rntenre. .hall n„1 .���i. a, thc prr�ence. u�r. or
<br /> ti[Ol'JLl'��11 1FIC Propert}� �,f�I118II l�U:lIl11UC��tl �:1/.ti(�l�U� lU}tti1:U1CC� I�Ati a�c �i�iFnii� :i:+�t.:SIC': !t•1•�=�•�r,�nlntC In ttnff11:1� �.
<br />�- _ - --_ — .---. .__� .. 7.I�rr��l � ,.,�u! tu m:nnlrn;�nct• ��t thr Pfo]�e�IY L. — -__- --
<br /> :'•' ' . � �•,:. ,.••, Form 3028 9�90 .
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