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<br /> ' �`' .. payments may no longer 6e required.ai the aPtian of Lender,if mortgage insucance�roverage(in the amount and for the period , ,
<br /> '" � ` '� ' thai I.ender requires)provided by an in.wrer apPr�ved by Lender again becomes available and is obtained. Borrower shall pay � `
<br /> - - - - � �?'°'�- �e p���r�wred tu maintain mortgage iasarance in effect,or to provide a loss reserve,until the requirement for mortgage _ _ rl•` �
<br /> s�`� _ _ : �_--....
<br /> ,.�' � insurance ends in accordante with anY wt►uen ag�ment between Horrower and Lender or applicabte law. ..,,.
<br /> Lender shall ive '°.4 .°_r :.. �
<br /> � .,�`y:. :,: 9. I n s p�to n.L ender or its a gent may make teasonable enuies upon and inspections of the Praperry• S ;t . : -,•
<br /> � Borrower notice at the time of or prior to a�incpection specifying reasonable cause for the inspection. �
<br /> ' ' 10.Condemnadon.The proceeds of any award or claim for damages. d�rect or consequential. in connection with arry , . �1
<br /> ��� ,��'•. condemnation or o t her t a k i n g o f a n y p a rt o f t he Pro pert y.or for conveyance in lieu of condemnarion,aze he[eby assip,ned and y �� . `
<br /> �. , Y S.'
<br /> �'` . � s6alt be paid to l�nder. this Security Insmtment.
<br /> • � In thc event of a tata!taEcing of the Property.the proce�ds shall be applied to tfie s�uns secured bY ln which tl►e fair
<br /> - - -`�•�--y`�, � whether or not then due. with any excess paid to Borrower• In the e�+ent of a partial taking of the PropertY � ,:
<br /> 'yJ°"�� w�mediatel before the taking is equal to or greater than the amount of the sums secared by this
<br /> __._"��-��� �rket v�lue of the PropenY � y the sums secured bY Y -�- -
<br /> � :`<
<br /> Security Inswment immediately before the takinS.anless Borrower and Lender otherwise agree►n wri�inS• ,
<br /> this S�ty I�S�ent St�al� be reduce� by the amonnt of the proceeds multiptied by the following fiactioa: ;���� :.'f
<br /> - -�- - � • amount of the sums secured immediazely before the taking.divided by(b)the fair market value of the PraPertY�ch the fair ° �.�.-� �''_`�"
<br /> - � ``Y be£ore the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property ' , , ,�,
<br /> _ . _. . - market value of the Property immediatety 6efore the taking is tess than the��le law otherw�proro'des.hl Pro bceeds shall V f ��. ;�_,
<br /> , taking. unless Borrower and Lender atherwise agree in�vriting or unless app• �. `' t =-
<br /> . � � be apptied to the sums secured by this Security Instrument whether or not the sums are then dae. _ �,
<br /> _ ' . -�;�R If the Pcoperty is abandoned by Borrower,or if,after natice by Lender w Borrower thai the condemnar offeis to make an '. .�is-._
<br /> <�-�-=�-`. award or settte a claim for dainages. Borrower fails to respond to Lender within 30 days after the date the notice is given, : ,_ '_
<br /> d nag
<br /> : r�;, Lender is authorized to oollect and apply t6e p�.at its optton.either to restaration or repair of ths PropertY or to the sums , ..� .,
<br /> .�' ' x''� secvred by this Security Instrument,whether or not the�►due. —_
<br /> � Unless Lender and Borrower otherwise agree in writing. any application of proceeds to principal shall not extend or ___
<br /> - �- ` ` �•�. ' postpone the due date of the monthiy paymenu referred ta in paragraphs 1 and 2 or change the amount of such payments• -
<br /> 11.Borrower 1�Iot Released;Fosbearance BY�der Not a Waiver.Extension of the rime for payment or modification � : _�
<br /> -- - � }=`•'�°'° � o f am o rt i z a ri o n o f t h e s w n s s e c u t Y d b y t h i s S e c u r i t y Instrument g r a nted by l.ender to any saccessor in interest of Bosrower shaU .s_-`
<br /> ,-:'°v.���.:
<br /> - not operate to release the liability of the original Borrower or Borrower's successon in interest.L en der s h a l l n o t b e re q n i re d t o � ,—
<br /> comcuence praeeedings against any saccessor in interest or refuse to extend time for payment or otherwise modify amorti7aaon �_
<br /> � � ' of the sums secured by this Security Insirument by reason of any demand made by �}►e original Earrower or Borrower's .`: �,�!�* ,
<br /> � t or remedy sha11 not be a waiver of or preciude the !•. � '�?
<br /> ��+.., �
<br /> r ' r" ': $�ICCCSSOIS 1Q IIISEICS[. Any forbearance by i.ettder in exercising any rigi► �;.5,, ��-
<br /> ' exercise of any right or remedy �°`
<br /> 12. Suocessors and AssigaC Bflu�d+Joint and Several Lia631ity;Co�signers- '�'fie covenants and agreements of this �_
<br />? ,, �� ' � ' gecurity Instrument shall bind and benefit the successors and assigr►s of I.ender and Borrower. subject to the provisions of .,,,,� ;
<br /> <' • ` � . '� paragraph 17. Borrower's co�enants and agreemenu shall be ,joint and several. My Borrower who co-signs this Security r .:,.�.:
<br /> ....._ .,.,r: .• •`:`�
<br /> inttniment but daes not execute the Note: (a)is co-signing this Security Instrument on1Y to mortgage, grant and convey that ':%;��-
<br /> �,' � Borrower's interest in the Prope�ty under the terms of this Security Instrument:(b)is not personally obligated ta pay the sums �...',���;
<br /> - � secu r e d by t his Securi ty Ins t r ument;and(c)a g r e es that l.ender and any other Borrower may agree to extend.modify.forbear or :�
<br /> ------ - �e any x�commadatians witb n�ard to the tersns af this Secusity Instnrment or the Note without that Borrower's consea� �- ' _��
<br /> t::,( � _" r�,
<br /> � .. 13.Loan Chatiges.I f t he loan secu r e d b y t h i s S e c u ri t y I n s t r u m ent is sub ject to a law which sets maximum loan charges, :.. '.
<br /> .� � ' and that law is finally intecpreted so that the interest or other loan charges collected ar to be collected in connection arith the .,:. :. �,.
<br /> �' loan exceeei the permitted limiu.then:(a)any such loan charge shall be reduced by the amount necessary to redace the charge {s,:.; ' .-,';,��_
<br /> - — — ,, -•.�
<br /> to the permitted limit:and(i�)any sums alreadY collected from Borrower which exc.eeded permiued limiu will be refunded to , :�
<br /> " Borrower. Lender may chaose to make this refund by reducing the principal owed under [he PIote era me�without any ' •('�_-_
<br />: �. ` �. payment to Borrower. Yf a refund reduces principal. the reduction will be treated as a partial P P Y , ..a;;
<br /> �� • prepayment charge under the Note. ' ' `��
<br /> ' . � 14.Notices.Any notice to Borrower provided far in this Securiry Instrument shall be given by delivering it or by Address ""`
<br /> ��'�
<br /> �,., ' "- • it by first class mail unless applicable law requires use of another met h o d.T he no ti ce s h a ll be directed to the Property -
<br /> '�•:•�.J• ; ,
<br /> or any other address Borrower desig�ates by notice to l.ender. Any notice to I.ender shap be given by first class ma1 to �
<br /> �c'+��' �,� � � "- Lender's address stated herein or any other address Lertder designates by notice to Bonower. Any nouce provided for in this �:;�,.
<br /> ��� � � - • ' Security instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. , .,..-�.
<br /> '. ;t::.... .
<br /> � 15.Governing Law; Severabllity. This Security Instrument shall be govemed by federal law and the law of the
<br /> � . ' .._'_.���:. + jurisdiction in which the Property is located• In the event that any provision or clause of this S.curity Instrument or the Note .
<br /> ' ' •. � conf�icts with applicable law.such canflict shall not affect other provisians of this Security Instrc:neut or the Note which can be
<br /> �� , . • given effect without the conflicting provision.Ta this end the provisions of this Security Instrument and the Note are declared
<br /> ' to be sevetablc. • .
<br /> � � :. • 16.Borrower's Copy.Horcower shaU be given one conformed capy of the Note and of this 5ecurity instrument.
<br /> Form 3028 9/90 .. . •
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