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<br /> � "'�• ' � substantially equivalent mortgage insurat►ce ro�erage is not available.Borrower sha11 pay to I.ender each month a sum eqttal to ' F - ( � _
<br /> � � one-twelfth of the yearly mortgage insutanoe precn�un►being paid by Borrower when the insurance wverage lapsed or ceased to � ,; ' ,� ''�. �°
<br /> be in effect. Lender will accept.use and retain these payments as a loss reserve in lieu af moctgage insurance. Lass reserve � ...;.h�� ... . _
<br /> ..`<_ �. .. <. � _
<br /> �y paymesus may no longer be required,at the option of Lender.if mortgage imasance coverage(in the amaunt and for the period � _ �
<br /> '-� � — t h a t L e n d e r re q u i re s)pmvidcd b y an in�urer appcoved by Lcadcr ag�in becames available and is obtai�ed. Borrower shail pay � �,_,; :
<br /> .� the premiums required to maintain mortgage insurence in effect.or to pmvi de a loss reserve,un t i l t h e r e q u i re m e n t f o r m o rt g a g e � t' , �; .
<br /> insuratue eteds in acrnrdance with any written agreement between Borrower and Lender or upplicable law.
<br /> . • . • 9,Iespectton. Lender or its agent may make reasonable enuies upon and inspeccions of the Properry. Lender shall give � .
<br /> � Borrower notice at the time of or prior to an inspertion specifying reasonable cause for the inspection.
<br /> � � �,� 10. Coademnatton. The procceds of any awazd or etaim for damages. direct or consequential, in cunnectivn with any <`� ,
<br />- . ' `"� condemnation or ather talcing of any part of thg Property.or far canveyance in lieu of condemnation,are hereby a,signed and �'
<br /> • � -
<br /> . � shall be paid to Lender. ,
<br /> , , �,;.�� In the event of a total taking of the Property.the proceeds shall be applied to the sums secured by this Security lnstrument,
<br /> ---- s!�rs.her ez net then dt�e. with any excess paid to Borrower. In the ecent of a p�srtial taking of the Pruperty in which the fair =�`
<br /> t'_ ,..
<br /> - market value of the Property immediately 6efore the wking is equal to or greater ttian the amount of the sums secured by thi�
<br /> �� � � �� ` Security[nstrument immedi�tetY before the taking,unless Barrower and Lender otherwise agree in writing,the sums secured by
<br /> " this Security lnstrument shali be reduced by the amount of the proceeds multiplied by ehe fullowing fraction la3 t1+e [otal
<br /> '� amount of the sum� �ecured immediately before the taking, divided by (b)the fair market valu� of the Property immediately
<br /> � ec •� °
<br /> • � ��` before the taScing. Any balance shall be paid to Borcower. In the event of a partial taking of the Property in which the fair
<br /> �: s market value of the Property immediateiy before the taking is less than the amottnt of the sums secured immediately before the :.'.4'• �
<br /> • taking.unless Bomower and Lender otherwise agree in writing or unless applicabie law otherwise provides,the proceeds shall i ,:.,_,;- �"�
<br /> � ' `� be applied to the sums secured by tfiis Security Instrument wheiher or not the sums are then due. -E. : �=.,;,:�:;
<br /> � - If the Property is abandoned by Borrowet,or if,after noti.x by Lender to Borrower that the condemnor offeis to make an
<br /> ` � award or setde a ctaim for damages. Bosrower fails to respond to Lender within 30 days after the date the nouce is given, �.,_-_:
<br /> ` ` I.ender is authorized to collett and apply the praceebs.at its option,either to restoration or repair of the Property or to the sums 4���._���
<br /> - secvred by this Security Instrument.whether or not then due. ��,;,+'���
<br /> � Unless Lender and Barrower otherwise agree in writinS• anY aPPlication of praceads to principal shall not extend or �—
<br /> „ �„,q
<br /> •• postpone the due date af the monthly payments referred to in paragraphs 1 and 2 or change the arnounc of such payments. ,,-�__
<br /> 11.Borrower:�iot Reteased;Fos6earance By Ler+der Not a Waives.Extension of the ume for payment or modification `';-,r�,,
<br /> � of amortization af the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shal! ,. ,:. �_„
<br /> � � not operate to release the liability of[he originat Borrower or Borrower's successors in interest. Lender shall not be required to _'•.�' :(,,_�
<br /> commence proceedings agai�ut any succe�ssor in interest ar refuse to extend time for payment or otherwise modify amottizaaon _ , ;:.!��
<br /> : • .. of the sums secured by this Security Instrument by rra�on af any demand made by the original Borrower or Borrower's
<br /> . �,'••'` successors in interest. Any forbearance by 1-ender in exercising any right or remedy shall not be a waiver of or preclude the �"���`��
<br /> �,��.
<br /> °: :'�-.` ezercise of any right ar remedy. � r
<br />- 12. Suecessors nnd A�signs Bound; Joint and Several Liability; Co-slgnetis. The mvenants and agreements of this .���`:,':;�;
<br /> ;�;�:.. ... �,
<br /> `� ` Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of . `,�,J
<br /> _ . - paragraph 17. Borrower's wvenants and agreements shall be joint and several. Any Borrower who co-signs this Security ��:
<br /> ;�,:!�:
<br /> ' ,'� Instrument but does not execute the Note: (a) is co-signing this Security Instmment only to mortgage,grant and convey that -_„_T;
<br /> � '� Borrower's interest in the Property under the tetms of this Securiry Instrument;(b)is not persanally obligated to pay the sums . �a'„��,.
<br />- `� secured by this Secnriry Insuument;and(c)agrees that Lender and arry other Borrower may agree to extend.modify.forbear or 3,I��_L;;:
<br /> .. . make any accommodations with regard to the terms of this Security Instrument or the Plote without that Borrower's consent. . ..,�r�
<br /> �' 13,Loan Cte�irges. If the loan secured by this Security Insttume�nt is sub}ect to a law which sets maximum loan charges, �;,'����?!--
<br /> ' • ' ' and that law is finaUy interpreted so that the interest or other laan charges collected or to be coltected in conne�Kion with the . _�_��:y•
<br /> ' � Ioan exc.ecd the permitted limits,then: (a}any such laan charge sha11 be rrdnced by the arnount necessary to reduce the charge •., ���
<br /> � ' � to the permitted limit;and @)any sums already coliected from Borrower which eaceeded permitted limits wilt be refunded co :.��.a.
<br /> - -• . . � : Bo�rower. Lender may chaose ta make this refund by reducing the principai owed under the Nate or by making a direct •�'��'-
<br /> payment ta Borrower. If a refund reduces principal, the reduction wiU be treated as a partial prepayment without any '.:.��,�_
<br /> �. • ' prepaymeni charge under the Note. �
<br /> .� 14.Nonees. Any notice tu Borrower provided far in this Security Instrument shall be given by delivering it or by mailing • ��:��;.
<br /> • • it by first class mail unless applicable law requires use of another method.The notice shall be directed to the Propeny Address '". �Y ,�
<br /> • • or any other address Borrawer designates by notice to L.ender. Any notice ta Lender shall be given by first c1a5s mail to '' � •• ��':�'.�.'
<br /> " Lender s address stated herein or any other address Lender designates by notice to Borrower. Any notice provideA for ia this • '.��i1�'-
<br /> � .� Security Instrument shall be deemed to have been given to Borroner or Lender when given as provided in this paragraph• , :�;��
<br /> •; �, " ' . _. 15.Governin� Law; SeverabiIItY• Th�s Security Instrument shall be govemed by federal law and thc law of the ,_.
<br /> � � jurisdiction in which the Pcoperty�s tacated. In the event that any provision or ctause of this Security Instrument or the Note •,�
<br /> �'' . - conflicts with applicable law,such conflicc shali not affect other provisions of this Security Inctrument or the Nate which can be ,
<br /> , � given effect without the wnflitting provisian.To this cnd the pravisions of this Security Instntment and the Note are declared
<br /> ' to be severabte.
<br /> U � 16.Borrower's Copy.Borrower shall be given one conformed capy of the Note and of tfiis Security Instrument. .
<br /> • � • 17.Transfer of the Property or a Bene�cial Interest In Borrower.�f a11 or any part of the Property or Any interest in it �
<br /> is sold or transferred(or if a beneficial intere.ct in Borro�ver is sold or transf=rred and Borrower is not a natural person)without
<br /> L.ender's prior writien wnsent. Lender may, at its option. require immcxiiate payment in fuil of all sums secured by this � •
<br /> � Securery Instrument.However,this optian shall not be exercixeci by Lender if exercisc is prahibited by federal law as of the date , . ; ,
<br /> ' of this Security Instrument. • . .
<br /> � If Lender caercises thi�option. Lcnder�hall give Barrower notice of acceleration.The nutire shall provide a per;od of nat ,
<br /> � les�than 30 days from the date ihe nuticc is dclivered ur mailed �vithin which Barrower must pay all sums secured by this
<br /> . � Security Instrument. If Borrawer fails to pay[hese sum�prior to the expiration of this periad. Lender may invoke any remedies
<br /> permitted by thiti Security lnctrument without further notice or demand on Bonower. •
<br /> . IS. Borrower's Right to Reinctate. ]f Borrower meets certain conditions, &:rrowcr shall have the right to havc
<br /> ' enf�rcement of tbi.r• 5ecurity Ir.>trument discontinued at any time prior to the earlier cf: (a) 5 days (or �uch other period as .
<br />. . applicable Inw may �pecify fur reinstatcme�iU hcfare wle i�F tl�e Property purtivant to any puwer of sale contained in this .
<br /> � . � Seeurity lnstrume:t:��r(b)entry of a judgment cnforcing this Securiry In�trument.Tho�e cunditions zre that Borrower.(a)pays
<br /> • Lender all sums which then would he due undcr this Se�:urity In+trument and the Note as if no ace�!cration had oceurred: (b)
<br /> � cures any default of any ��thcr covenants or agreements; (r) pays all expenties incurred in enfin•cing this Security lnstrument.
<br /> •. induding.but not limitul to. reatiunable attorney.r' fcc�; anJ fd)�akes wch action as Ler,dcr may rcasanably require to assure
<br /> ' that thc licn of thi�Security Imtrament, t.ender',right� in thc Pmperty and B��rruwer's obligation to p:ry ihe tiums sccured by
<br /> � this Security Instrume�it sh�ll continue unchanged. Up�m reinstatement by B��rrnwer. this Secunry Imtrument anJ the
<br /> .. . obligation+�ccured hcreby shall remain fully cffective as if no arccicratiun had occurrcd. However. thi�right to rcinstate shall
<br /> ., not apply in thc cati���f a:ccicretion under paragruph 17. • �
<br /> , • 19. Sate of 1ote: Chan�e oP I.oan Servicer. The Notr ��r a partial interc�t in thc �Jote Itogether with thi. Scrurity
<br /> ' In�trument)may be+nW one��r morc timc�withoW prior niriicc a�Burrowcr. A sale may rc.ult in a change in thc cntity(know•n , , ,
<br /> a�Ihr "l��an Scrvicer"► th.it cullrct+ munthly paymrnty duc undrr thr Nutc and thi+5rcurity Imtrumcnt.Thcre.ilso may bc onc .
<br /> ,.- ur morr rhangc�uF�hc L.oan Scn•�ccr unrclatcd t„.i.:de of thr Nute. If thrrc i�a changc of th� lw,�n Scrvicer. Bc�rr��w•cr u•i!t he .
<br /> • �iven��•ritten noticc uf the rhange in acc��rdanrr with paragraph 14 ab��ve and applirable I:i�v.Thr notice will�tate the n:imc and . .
<br /> . : addre.���f Ihe ne�ti• I��an SCfvirei and the addrrti� a�wl»rh payments shuuld hr made. Thr nulicc wil) al�o cimtain tmy uther
<br /> . ; ; � infi,rmatiun nquireJ hy aPPlicaMr law. , �
<br /> �� i 20. Ha�ardou�tiub�tann�+. Hutru�rcr .hall nut cau.r ��r pern3tt !hr pn�cncr. u�r. J�.pu.al. ,t��rage. ur rclrasc uf any `
<br /> ,•��_i ' � Ha�ardnu. Suh�tanrc. �m „r in thr Nn,prrl} i�nrm«rr .hall n��t d��. nor all�n� am•„nr rl�r tu d��. anything atfccting Ihc .
<br /> j Prupert7• that i+ in �iolation �,f any I:n�ir„nmrntal I.:n�- "Phr prccrJ�ng twu.cntenrr. •hall n��t .ipply t�+thr prc,�nc�. wr. c�r L
<br /> : � l .t��ra_'c�m Ihc Pn,pcnc �,i .ri:dl i�u:�nlinr���t ii:v:irdrn�. Sui,.lan�r. ���.,i .,r. g:r.::;:l: :�:c�_:::•,.� cc•�,._srFf��nriEttC n,nnrnr.d E. —_--_
<br /> . � rr���rntuil u,c,an.t tn nr.untrn.inrr�,1 ILr 1'n,prrt}
<br /> . i , , , , Form 3028 9�90
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