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<br /> � t` � � ��Y ��Q��1�- . . � � �. `.
<br /> . ` � • payments may no longer 6e required,at the option of Lender.if mortgage insurance coverage(in e amoun and o od �,. . ,
<br /> ' . [hat Leuder requires)prmrided bY an fnsucer aPProved by Lender again becoines available and is obtained.Borrower shall pay the , .
<br /> • prcmiums cCquired to maintain mongage insurance in effect,or to provide a loss reserve,untii[he reqwrement for mortgag� �.• .
<br /> ' ` � ` �� iasurance ends in accordance with any wriuen agreement beeween Borrower and l.ender or applirabte law. :�w. �;� .. • _
<br /> ' - 9.Iaspecuon. l.ender or its agent may make reasonable enuies upan aad inspections of the Property.Lender shall give f , .�.
<br /> Borrower notice ai the time of or prior to an inspectio�sPe�ifYmB�asonable cause for the inspection. - ,•
<br /> '�- < - l0.Condemnatioa The praceeds of any award or claim far damages,direct or consequenzial, in connection witb aaY � ,_., -.,�
<br /> ,. ,� condemnation or other taking of any part of the Property,ar for canveyance in lieu of condemnat'son,are hereby assigned and � -.
<br /> 'd w Lender. �
<br /> • . shall be pat :
<br /> . � 1n the evatt of a mtal taktng of the Property,the proceeds shall be applied to the sums sec�red by this Security Insmunent,
<br /> . � ' , .' �
<br /> . .` ' whethcr or aot then d�e.with any cxcess paid tn Borrower.In the event of a partisl taking of the Property u►afiid�the fair market . .
<br /> � ` . value of ihe Property immediately before the taking is equal to or greater thau thc amouat of the sums secured by this Securiry . � `��� � ,�'
<br /> Iusttumcnt ialmediately beforc the taking, unless Borrower and Lender othcrwise agree in writing,ihe sums securcd by this '- �. ` _ '_::`�
<br /> `�' Security Instrament shall be reduced by ths amount of ihe proceeds muluPlied by the foltowiag fraetion:{a)the rotal amount of .. �_ .
<br /> °:� , `"'..�s_
<br /> � the swns secured immediatcly bcfore the taking,divided by (b) the fair market value of the Property immediately before the :•'y'� ,_;"=�_�-�
<br /> �''.' takuig.My balance shall 6e paid to Borrower.In the eve�t of a partial taking of the Property in which the fair mazket value of the .,. � . . _
<br /> - " - ,� Property immediately before the taking is less than the amaunt of the sums secured immediately before the talcing, unles4 ; ..- . --
<br /> • • Borrower and L.ender otherwise agree in writu►g or unless aPPlicable law otherwise provides,the pmcce�ls shall be aPPU��O�� �
<br /> � . .�`�� suu�s setured by tdis Security Instrumeat whether or not fie suins ara�hea due. ,, t:,;'..,��`,'
<br /> � � � If the Property �S abandoned by Boaower,or if,after notice by Lender to Boimwer ihat tfie condemnor offers to make at► . ;..___
<br /> � ' �.S
<br /> ���° � award or seule a ciaim for damages,Borrower f a i l s t o r e s p o n d t o L e n d e r w i t h i n 3 0 d a y s a f t e r t h e d a t e t h e a o ti c e i s g►ven,Lender , -: ��
<br /> . is authorized to callect and apply the proceeds.ai its aption,either to restoration or repair of the Properly or w ihe sums seciued _____": :'.��-=�--
<br /> .�'=' by this Security Instrumen�whether or not then due. '��'��_
<br /> �. �
<br /> ?�.:-"'""�":
<br /> � ' ' '� ` Unless Lendex and Borrower othecwise agree in writing,any aPPlication of praceeds to princiPal shall nat entend or postpone , : ,..� .i:�:::;;;•._�
<br /> - ' ents referred w in paragiaphs 1 and 2 or change the amoun!of such payments. ' d ' •�°''`�
<br /> ` the due date of the monthly paym _
<br /> - 11.Borrower Not Reteased;Farbearance By Lender Not a Waiver. F.xcension of the rime for payment or madificasion ._ ,�-��
<br /> af amortizarion of the sums secured by this Secutity Insrorument granted by Lender to any successor in interest of Borrower shall ..<���
<br /> ' not operate eo release the liability of the original Bormwer or Borrowec's svccessors in ineecest.l.eader shall not be required to . : .i�t.�;��:�'
<br /> .� commence procecdings againvt any successor in interest or refuse to extend time for payment or otherwise madify amort¢�ion of . •�}���
<br /> `.. r::.....
<br /> � the sums sec�ued by this Security Insuumeni by mason of any demand made by the original Borrowex or Borrower's successors 't:�,��
<br /> " - - , in interest.Any forbearance by Lcndcr in exercising any rigfit or rcmedy sha11 not be a waiver of or preclude the exercise of any ;_ __s .- -
<br /> ' right or rcmedy. "'��'
<br /> 12.Successo�and Assigns Bound;Jofnt and Several Liabil;ty;Co-signers. The wvenants and agoements oF this �
<br /> • Securiry Instcument shall bind and benefit the successois and assigns of Lender and Bo�owcr,subject to the pmvisions of :�'•.'�.�t:
<br /> paragraph 1T. Borrower's covenaats and agcements shall be joint and seveial. Any Bormwer wha co-signs this Security ;��
<br /> • Instruacent but does not execute tde Not�: (a) is co-signing this Scxurity Insuument only to mortgage,gtant and convey that ���`.°�`
<br /> . - Borrower's interest in thc Yroperry under thc tcrms of this Security Instrumcnt;(6)is not pecsonally obligated to pay the sums ' �+•�
<br /> ..'y�-.:
<br /> sccured by this Seciuity Instrumeafi and(c)agces that Lender and any ather Bonower may agree to eatend,madify,forbear or . „�a
<br /> � make any accammodapons with regard to the terms of ihis Security lnswment or iha Note without that Bocrower's consenL .• ' :�('�°=°
<br /> ' ' . � 13.Loan C6arges. If the loan secured by�his Security Insvument is subject to a law which sets ma�cim�un toan charges, • . _�;
<br /> � and that law is fmally interpreted so that the interest or other loan charges collected or to be coUected in wnnecrion with the loan
<br /> � . � exceed ihe permiued tirnits,then:(a)any such toan cdarge shall be reduced by the amount necessary co reduce the eharge to the � ��=-�•
<br /> .... � � permiaed limit;and(b)anY sums alreadY�°llecte�from Borrower which exceeded permiued limits wiU be refunded to 8orrower.
<br /> ` • � �' Lender may chaose[o make this refand by reducing thc principal owed under the Note or by making a direct payment to _
<br /> � Borrower. If a rePund reduces principal,ihe reduction will be ueated as a partial Prepayr►�ent without any prepayment charge .�. ,'�' r .
<br /> . . •...�
<br /> � under the Note. `' ' �,
<br /> 14.Notices. Any noace to Bonower provided for in tbis Security lnsuumcnt shall be given by delivering it or by mailing it , .
<br /> by fust class mail unless applicable law reyuires use of another method.The notice shall be d'uected to the Praperty Address or
<br /> • any other addcess Bonowcr dcsi�nates by notice to Lender.Any notice w Lender shall be given by first class mail to Lender's .
<br /> � address statcd herein or any othcr address Lcndcr dcsignates by noticc w Borrower. Any nodcc provided for in this Sccurity .
<br /> � � � lnswmcnt shall bc dccmcti to havc bcen given to Borrowcr or Lendcr whcn givcn av providcd in this paragraph. .
<br /> t . 15.Governin�Law:Severability. This Sccurity lnstrumcnt shall be govcmcd by fedcral law aad Ihe law of thc : • .
<br /> { . • junsdic[ion in which the Propeny is located. In the event that any provision ar c(ause of thi�Security Inswment or the Note
<br /> conflicu with applicablc law,such wnflict shall nnt af'fcct othcr provisions of this Sccurity Instrument or thc Notc which can bc
<br /> . • given etfect without Ihe contlicting provision.To this end the provisions of this Security Instrument and ihe Note are dectared t� . •
<br /> ' bc scvcrablc. • �
<br /> � Fo�m 5028 9�90 •
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