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<br /> ` pay�ueats may ao ton�er be required.at the option uf Lender.if�rf+ongag�insurance covera�e(in the amonnt attd for the period ' ` �
<br /> � :�.=�`• that L,eader requires►provided by an msurer approved by Lender again becomes available and is obtained.Borrower shall pay •�, � �. ,�
<br /> ��'�� � ' the premiums cequired to mnintain mortgage insurance in effect,or to provide a toss resQrve.until the requirerr�nt for mortgag� �'``�,°�
<br /> . . � iasurance ends in acoordance with any written agreement between�ocrower and Leader ur applicable law. s� ; '�< <
<br /> < '� 9.Inspe�ion. i.ertder or its agent may make reasonable entries upon and inspections of the Properry. Lender shalt give `."`,:,,.;=."
<br /> _ ---��"�' Borrower notice az the dme of or prior to an iaspection specifying re.�ona4le cause for the inspection. <�
<br /> -� -�•-�-�~'•.,: ,
<br /> `��° :�'' � ••"- i0. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connecuon with any . �
<br /> --._�-�=�_. - -- - �=- --
<br /> � condemnation or other taking of any part of the Property,or for conveyance in lieu of condemnation, are hereby assigned and . " «-. >,-,-`.
<br /> . . shall be paid to[.ender. � ;` ::: �
<br /> .. In the event of a total taking of the Property,the pmceeds shall be applied to the sums seeured by this Secvrity Instrument. ' �. �-
<br /> ' ' . . whether or not then dite, with any eacess paid to Borrower. In the eveat of a partial taking of the Property in which the fair ,_�:���` _
<br /> • , . - -`• .�� market value of the Property immediately befare the taking is equal to or greater t6an the amount of the sums secured by this ` .
<br /> • � �.'f- Security Instrument immediately before the taking,unless Borrower and Lender atherwise agtee in writing,the sums secvred by ` . ��.��?-.,
<br /> `�. : ° - this Security Insuument shall be reduced by the amount of the proceeds multiplied by the folloaring fraction: (a) the total . :_ --_:�__
<br /> , ` `: � amount of the sums secured immediately before the taking. divided by @)the fair market value of ttze Property immediately � :,"'4` _
<br /> r"� � ��� before the talcing. Any�alance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair � ;`__=J` _
<br /> '�f.`����`� market value of the Pro e immediatel before the taking is less than the amount of the sums secured immediatel before the "'� � ��
<br /> :,`.f ; P nY Y y < �.�_,:=�-
<br /> - taking,unless Borrower and Lender othenvise agrae in writing or untess appticable taw otfierwise provides, ihe praceeds shaIl . --.
<br /> � � '�� be applied to the sums secured by this Seturity Instrument whether or not the sums are then due. �1„
<br /> , ;_.,-_i; .
<br />- � - If the Property is abandoned by Borrower,or if.afser aotice by I.ender to Barrower that the condemnor offers to make an ,� �'a'�'-
<br /> ' '- `�-�`"'' award or settle a claim for es. Bonower fails to ond W L.ender within 30 da s after the date the nouce is ven. �' u � `��
<br /> ., damaS resP Y � x�..-.
<br />_ ;• •• , �, �-`•�r Lertder is authorized to rnllect and appty the praceeds,at its option,either to restoration or repair of ttee Propert}+or to the sums -'"�- ' --
<br />- ... _ �i'.�..=.•-:.
<br />"°t` ' ` � ���':.`�' secured by this Securiry Instrument,whether or not then due. ` .;�s.
<br />' - Unless L.ender and Borrower oihenvise agree in writing,any application of pmceeds to principal shall not extend or • '?b �"
<br /> "-�",• •�.�,:•::�-:--
<br /> � ': postpone the due date of the monthly paymeau referred to in paragraphs I and 2 or change the amount of such payinents. . t ., ;-�c:-=.:
<br /> � :._„ " '� �' !l.Borrower Noi Reteased;Forbearance By I.ender Not a Waiver.Extension of the time for 8ayment or modi�c�tton :`�?s•�..,�.,•_
<br /> � :�-„:- , - .. of amortization of the sums secured by this Security Instrument granted by Lender to azry successor in interest of Borrower shall ..-i�_=
<br />_ ' ' not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to � � __..__.�-
<br /> _ `'� .... commence proceedings against any successor in interest or refuse to extend 6me for payment ar other�vise modify amortizaiion ` �`-_''
<br /> . , of the sums secured by this Security Insmunent by reason of any demand made by the original Borrower or Borrower's = __
<br /> ; �� saccessors in interest.My forbearance by Lender in exercising any rig6t or remedy shall not be a waiver of or preclude the � .".��
<br /> exercise of any rigtit or remedy. �, '�-'
<br /> . : 'f,,�,t.�,.
<br />� ' . 12. Successors and Assigas �onnd;Joint and Several Lia6ility; Co-stgners. The covenants and a�eements of this ', �,��:<
<br /> ,.: : .. " Securiry Instrument shall bind and benefit the successors and assigns of Lender and Bortnwer, subjea to the provisions of . " �� _
<br /> � � paiagraph 17. Borrower's covenants and agreements shall 6e joint and several. Any Boaower who co-signs this Security ' -=_
<br /> "� � .� �-� � .- . tnstrumem but does not execute the Note:(a}is co-signing this Security Inctrument only to mortgage. grant and convey that = °_ _
<br />. � . Borrower's interest in the Property under the terms of this Security Instrument:(b)is not personally obligated to pay the sums . ,��=
<br /> , , secured by this Securiry instrument:and(c)agrees that Lender and any other Borrower may agree to extend,modify,forbear or ' }d"- �
<br /> � �,.:
<br /> . • �;.:•,
<br /> • � , make any accommadadons with regard to the terms of this Security lnstrument or the Note without that Borrower's consent. � � _�
<br />• 13.Loan Charges. If the loan securerl by this Security Jn,etrument is subject to a law which sets maximum loan charges, • __ --
<br /> ' and that law is finally interpreted so that the interest or other loan charges coltected or to be collected in connection with the —
<br /> ��. ' toan exceed the permitted limits,then: (a)any sach loan charge shall be reduced by the amount necessary to reduce the charge • ��
<br /> ' ' . � � to ihe permitted limit;and(b)any sums already collected from Borrower which exceeded permitted Iirnits will be refanded to � � ����.��` �_
<br /> �'�' � - •�` � Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct "�� ' •_"�-^''
<br /> �'�� � payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any ""�`������=
<br /> ' � � .� prepayment charge under thc Note. .�;'�.W���
<br /> • � 14.Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing `
<br /> . , � it by first class mail unlcss applicable law requires use of another rnethod.The notice shall be directed to the Properry Address � �
<br /> � � or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by fitst class mail to � ' ..
<br /> ' �. l.ender's address stated herein or any other address Leader designates by noticc to Borrower. Any notice provided for in this •« � �• ••
<br /> - • ' Security lnstrument shall be deemed to have been given to Boaower or Lender when given as provided in this paragraph. , •
<br /> '���•� . 15.Governing Law; Severebility. This Security Instrument shall be �ovemed by federal law and the law of the '. � .'
<br /> • • jurisdiction in which the Propeny is located. ln the event that any provision ar clause of this Security lnstrument or the Note ,, .
<br /> �� - . " � ' conflicts with applicable law,such conflict shall not affect other provisions of this 5ec:urity Instrument or the Note which can be • - ;
<br /> • � given effect without the conflicting provision. Ta this end the provisions of this Seturity Instrument and the Note are declared • �
<br /> . . ta be severable. ' '
<br /> , ' �. 16.Borrower'�Copy.Borrower shall be given one conformed copy of the Note and of this Secnrity Instrument. • • '
<br /> • ' Form 3028 9/90 •
<br />- � Pago A of 6 . - � . . .
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