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<br /> :' payments may no langer be required.at the option of t.eader.if'mortgage+►�:,urarn�coverege fiss ttic a�ount and for r�he periu�-. -
<br /> . _.. � E�=:' that Lender requires)provided by aa iasurer appmved by Leader Sgain beoomes availabie and is obtained.Borrower shall pay � �
<br /> ' ' the premiums requir�ta maintain mortgage insuraace in effect,or to provide a loss resenre.until tlie requirement for mortgage� ;:,�:�":'`
<br /> . ...•'4.. .. • _`.,'k" ':�..
<br /> `. .�_.. .�'` insurance ends_in accoidancc witb any written ageement between Borrower and Le�er or appiicable law. � ,
<br /> .' ` , g,Inspect�on.Leader or its agent may make reasonable entries upon and inspections of the Property. Lender shall give � `�,._`
<br /> •; •" . . �f_` . . .
<br /> •�t .: . :.�: Borrower aotice at the time of or prior w au iaspection specifying reasonabte c�use for the inspection. � `'.. '�..E :"
<br /> � �'"'�£�'. 10. Condemnation. The proceeds of an��awand or claim for damages. di�ect or oonsequenrial, in connection with any � �. , '.��('•: c:c
<br />- ' .:.r.o���•::". •�.�?,-ry���-_s4?..;...
<br /> z. oondemnatiou ar other taldng of any part of the Property.or for conveyance in lieu of mndemnation,are hereby assigned ead �
<br /> ��be�ac��. �:� ___
<br /> . - a. „�%:. tn the event of a toial qking of the Property.the pmceeds shall 6e applied ta the sums sesauEd by tlus Secusity Instrument. � ,J ''
<br /> « ;.: t.� : Y� .� �' -.
<br /> `� � � • ; • whether or not then due, with any excess paid to Borrower. In the event of a partial takiag of the Property in which the fair � � •�:• t :_.�,`„;`:.
<br /> . mar�cet value of[he Property immediately before the taldng is equal to or greater than the amount of the sums secured 6y this '.• -� __.
<br /> � '� ' � Security Instnuneat immediately befote the taking,unless Bomower and Lender oiherwise agree in writin�.the sums se�,vred Isy �•r _--
<br /> '`�' this Securiry Instmment shaq be reduoe�! by the amou�of the praceeds multiplied by the following frac,tian: (a)the cotal .=�.�
<br /> � 5 . amouat of the sums secured immediately 6efore the taking, di��ided by(b)the fair market value of the Property immediately `' `;" =
<br /> • 6efore the taking. Any bulance shail 6e paid to Borrower. In ihe event of a partial tatQng of the Property in w6ich the fair ;'"�. �"� �
<br /> � � market value of the Property immediaiely before the taking is less than the amount of the sums secuied immediately before the . �
<br /> , taking.unless Bocrawer and Lender otherwise agree in writin�ar unless applicable law otherwise provides, the pmceeds shali --
<br /> _. : . 6e a�plied to the sums secored by this Security Instrument whether or not the sums are then dae. ,.�
<br /> � - .�• If the Praperty is abandone�by Horcower.or if.after notice by Lender to Borrower that the condemnor offers to make an '��y_ `.:; _
<br /> .�r, .
<br /> •, .-. :
<br /> . . _..,
<br />-� � � -' � award or settle a claim for daarages,Borrower faiLs to respond to I.ender wi+.hin 30 days after the date the notice is given, -�
<br /> �'. ' Lender is aathorized to collect and apply the proceeds.at its option,either to restoiation or repair of the Property or to the sums ' ��,��� . _
<br /> . t,:.�,' secured by this Securiry Insuument,whether or not then due. , �•
<br /> ' � Un�as Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not.eatend or . � �--�—
<br /> , ,�`-; postpone ttie due date of the monitily paymenu referred to in paragraphs�and 2 or change the amoum cf such paymenu. :' '.,"� �y��;,_";;
<br /> � 11.Borrmwer Noi Released;Forbearance By Leuder Not a Waiver.Extension of the dme for a ment or mudification '•`�" '"`"�'"-
<br /> .. P Y ;: }_:_��..-_-
<br /> ', .' �- ' of amortizaqon of the sums secured lry this Security Instrument granted by Lender to any successor in interest of Borrower shaU . _
<br /> "- �' ' not aperate tu retease the liability of the original Borrower or Borrower's successois in intesest. L.ender shalt not be reguired to - _ ___�
<br />- � �•� ' commence pmceedings against any successor in interest or cefuse to extend time for payment or otherwise raodify amortizatian ___
<br /> � . � of the sm�ss secured by this Security Instnunerrt by reason of ar►y demand made by the original Bonower or Borrower's — - ,,,�
<br /> �s
<br /> . .. successoss in intemst.Any forbearance by Lender in exercising any right or remedy shall nat be a waiver of or preclude the _ . - -
<br /> exer�ise of ony right or remedy. �` .
<br /> � l2. Succcssors aad Assigas Boand;Joint ar.�9 Several LiaibUIty; Co-signers. The covenants and agreemenu of this '�'-'� � �::.,�.�__
<br /> � � � Security tnstrument shall bind and benefit the sucazssors and assigns of Lender and Borrower. subject to the provisions of '��—.
<br /> �� �^ paragnp�i i7. Borrower's cavenants and agreements shall be joint and seveial. My Borrower who co-signs this Security =.•-:.. ." _�`�'
<br /> -. � - .? Instrume�t but does not execute the Note: (a) is co-signiag this Security Instrument only to mortgage,graut and convey that ""'"'=` •��_—_
<br /> : . ,:; Bosower's interest in the Property under the tem�s af this Security Instiument;(b)is not personally o6tigated to pay the swns ` ��._..'�::��_-
<br /> • • secured by this Securiry Instrument;and(c)agrees that Lender and any other Borrower may agree to e�ctend.modify,forbear or '""""' `��
<br /> '?s�--
<br /> - ' �_==:; . ' make any accommodations with regard to the temis of this Security Instrument or the Note without that Bormwer's consent. �''*'�_—
<br /> ' .. 13. Loan Cha�ges.If the loan secared by this Security Instrument is subject to a law Rhich sets maximum loan charges. - � ��`.
<br /> • � z-r.�that law is finally interpreted so that the interest or other loan charges collected or to be collected in wnnection with the ,.:�;,.�. ;�
<br /> , � " — loan exceed the permitted limits.then:(a)any sucl�toan charge shall be reduced by the amount necessary to rednce the charge �� `^*��-� °_
<br /> r.�_. . . to the permitted limit:and(b)anY sums already co!'.ected from Borrower which exceeded permitted limits will be refunded to '. �,,_:.
<br /> �'.� '- � ' ' Borrower. Lender may choose to make this refund by reducing the principal owed under the Note ot by making a djrect J�_�"����_• �r _
<br /> �� .,.� :-, payment to Borrower. If a refund reduces pdncipal, the reducdon wil! be treated as a partial prepayment witt_cs.►t any ' �-'" .��•. x
<br /> IP. �J .
<br /> ,, ` � '� prepay�r..�-�chazge under the Note. "'""'°"'
<br /> � 14. Notices.Any notice to Borrower provide�for in this Security Ipstrument shall be given by deliveru�g it or by mailing -
<br /> �� � � it by first class mail unless applicable law requires eye of another method. The r.otice shall be directed to t?�e Property Address _ ��.-
<br /> ;�. , . ' � ' or any other address Borrower designates by not:ce to Lender. My nouce to Lender shall be given by first class mail to , .
<br /> � ' Lender's address stated herein or any c�'�er address Lender designates by notice to Borrower. Any notice provided for in tl�is •
<br /> •'�- �=-_° `� Securiry Instrument shall be deemed tohave been given to Borrower or Lender when siven as provided in this paragraph. '.
<br /> `r , `� 15. Goveming Law: Sevesa6�lity. This Security instrument shal! be govemed hy federal law and the law of the •
<br /> � � . jurisdictian in which Ihe Property is located. In tre event that any provision or¢lause of this Security Instrument or the Note • �•:•-�P'':.
<br /> : . . � . , conflicGS with applicable law.such conflict shall nol affect other provisions of this Securiry Instrnment or the Note which ean be •
<br /> • . . given.effea without the conflicting provision. To this end the pn;visions of this Securiry Instrument and the Note are dectared .. ,
<br /> � . . , to be sevenble. ��
<br /> � ' 16. Borrower's Capy.Borrower shall be given ane canformed wpy of the Note and of this Secudty instrument. . . . •
<br /> '� ' .._�. .• ' - . ..
<br /> � Form 3028 9/90 ; . �
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