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<br /> � ` • � " �� �ubstaAtialty equivaleni inortgage_ir�surance coverage is not available.Borrower shall pay to Lcnder each month a.um eyual to `
<br /> � � one-hvelQb of shr yearly murtg3ge insurance premium being paid by Bvrrower when the imurance coveragc lap�ed or c�ed to� _ _ '�
<br /> � be in effect-L,et►der wilt aecr�st,use and rctain the�e payments a, a loss rescrve in lieu uf mortgage ia+ur.tnce. Lo++ reserve� "-�
<br /> � - payntents may no longer be requirai.at the option��f Lender,if mortgage imuran��e coverage 1 in the:imuunt and fur the period � �� -��
<br /> • : that I.ender requiresl pro�ideii by an insurer appn�ved by Lender a�ain bccomes avail:sble and i.ubtained. Barrua•cr shall pay • .
<br /> . ` � ' [he premium+reyuircd to maintain mort�e insura�ce in effect.or to pruvide a luss reserve,untit the requiremcrtt fitt mortgage� • ,
<br /> � • " insurance endti in accordance uith am w-ritten sgreement bet�een Burrower and Lender ar applicable law. . �« � .
<br /> 9.Inspection. Lender or it�agent may make rea.+onabte cntries up�m and in.tipections af the Property. Lcnsier shail give� .
<br /> � • Bnrrower notice at the time of�N prior ta an insp�tion+pecifying rea,onabte cause for the inspec:ti�m. . , . �
<br /> ' . 10.Coudemnatioo. The proceeds af any award ur rla'sm far d:images. dimt or caroequential. in r�mnecti�n with an� , .
<br /> � cnndemnation or ather�alung of any part of the Pmperty,ar for cunveyance ir.tieu of condernnatian, are hereby a++igned art .; �
<br /> '.. . . �hall br p�aid to Lender.
<br /> ' [n the event of a total taking uf the Propeny.the proceeds,hall be appiied to the�ums+ecured by�[hi+5ecurity[nstrument. •
<br />_�_. � _ - whether ur not then dae, with any exc�s paid to Burn�w•er. In the event of a partial taking of the Propeny in which the fsir _ _ _ -
<br /> - .�-�-<��_"�, market value of the Property immediately before the taking is equal to or greater than [he amount of the wm,secured by thi.
<br />'•�� ?T ,' '< ¢ Security Instrument immediately before the taking,unless Borrower and I.ender otherwise agree in writing.ihe sums secum.�i by --- - -
<br /> � ' this Security Instrument shall be reduced by the amount of the proeeeds multiplied by the following fraction: Ia1 the total •
<br /> _ amount of the sums secured immediately before the taking. divided by(b) the fair market value af the Praperty immediately
<br /> � before the taking. Any balance shall be paid to Borrower. In the event of a partial ta4cing of the Propeny in which the fair , .
<br />'`_ market value of the Property immediately before the taking is less than the amount of the sums secured immediately 6efore the , -
<br /> - ' taking. untess Borrower and Lender otherwise agree in writing or unless applirable law othenvne pravides.the praceeds shall �: ��
<br />••� ` r.� be applied to the surtu secured by this Security I�trument whether or not the sums are tben due. • .,:',; .
<br />_:.f . "�� If the Property is abandoned by Borrower,or if.afrer notice by Lender to Borcnwer that the condemnor offers to make an �f;:.:.<<•,�,
<br /> • award or settle a claim for damages. Barrower fails to re+pond to Lender within 30 days after the date the notice is given. ` ��. • �:;•= ',
<br /> I.ender is authorized to collect and apply the proceeds,aE its opuon,either to restorauon oc rep�air of the Property or to the sums '''``� ��
<br /> �R . , secured by this Security Instrument.whether or not then due. � .
<br /> - • Untess L.ender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or ,-`'"�`
<br /> �; •� f postpone the due date of the monthly paymenu referred to in paragraphs 1 and 2 or change the amount of,uch payments. • •._
<br /> ' .. 11.Borrower Not Released:Forbearance By Lender Not a Wairer. Extension af the time for payment or modifiration ` `:;,��_
<br /> `` . of amortization of the sums secured by this Security Instrument granted by i.ender to any successor in interest of Barrower�hall - •<<:,,
<br /> - � • not operete to release the liability of the original Borcower or Borrower's successors+n interest. Lender shall not be required to � ,:,�'�
<br /> ;=-. �., commence proceedings against any sucreswr in interest or refuse to extend time for payment or oWenvise modify amoni7a[ion ,;.:�.,
<br /> � - � of the sums secured by this Scxurity Instrument by reason af any demand made by the original Borrower or Borrowe�s �`-_;�::��Y�-_
<br /> °`u successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the
<br /> . exercise of any right or remedy. � � ",`����
<br /> � 1Z. Successors artd A�si Bound; Joint and Several LIa611Ity; Co-signers. The covenants and agreements of this �'''.y=
<br /> � •^ ' �;,:."'.'
<br /> . Security Instr�ment shall bind and benefit the successars and assigns of L.ender and Borrower, sub�ect to the rovisions of ;� ��, �'�'�`
<br /> J P .s;ac;,T:,.
<br /> r,` • - paragraph 17. Borrower's covenants and agreemenu shall be joint and several. Any Borrower who co-signs this Security .
<br /> � � instrument but does not execute the Note: (a) is ca-signing this Securiry Instrument only to mortgage. grant and convey that �-��..
<br /> �,' Borrower's interest in the Property under the terms of this Securi Instrument:(b)is not onall obli ated to a the sums i"-�;°''`
<br /> � ty P� Y S P Y "•�F—=,
<br />''� . - secured by this Security Instrument;and(c)agrees that Lender and any other Bonower may agree to extend,modify,forbear or •''•�'-_-
<br /> . ;, -.�-
<br /> make any accommadations with regard to the terms of this Securit lnstrument or the Note wtthout that Borrower's consent. �'-'�
<br /> Y °,� �;�:, .
<br /> � 13.Loan Charges.If the loan secured by this Security Instrument is subject to a law which sets maximum Ioan charges. . ;_�_
<br /> ' • � and that law is finally interpreted so that the interest or ather loan charges coltected or to be collecied in connection with the -
<br /> � loan ez c e e d t he p e r m i t t e d l i m i�,.t h e n: (a)an y such loan char ge shall be reduced by the amaunt necessary to reduce the charge •�. .;1����:"`
<br /> � to the permitted limit:and(b)any sums already colleceed from Barrower which exceeded permitted limits wiU be refunde�i to �rR�_
<br /> -�! Borrower_ Lender may choa,e to make this refund by reducing the principai owed under the Note or by making a direct -'=�•��;y�-
<br /> s� � ��-+ payment to Borrower. If a refund reduces principal, the retluction w�U be treated as a partial prepayment withoat any . '�;'.
<br /> . __. �-� prepayment charge under the Note. _�_ .
<br /> . 14.Notices.Any notice to Borrower provided for in this Security Instrument shall be given by delivenng it or by mailing ,.�,;:;
<br /> • . �� it by first class mail unless applicable law requires use of anather method. The notice shall be directed to the Property Address �„�;
<br /> . �` or any ather address Borrower designates by notice to Lender. Any notice to Lender shall be given by first clatis mail to ; . �s•�
<br /> .' ` • Lender's address stated herein or any other address Lender designates by notice ta Barrower. Any notice pravided for in this , •` �;:
<br /> �f. ,
<br /> : � Security instrument shall be deemed to have been given to Bonower or l.cnder when given as provided in thia paragraph. , .';�
<br /> - � ' ' 15.Governing Law; Severability. This Sccurity Instrument shaU be govemed by federal law and the law of the ��LL=:-
<br /> ' • . }urisdictian in which the Property is lacated. In the event that any provision or clause af this Security Instrument or the Note . :: �_.
<br /> ��� ' conflic�e with applicable law,such conflict shaU not affect other provisions of this Security Instrument or the Nate which can be .. .�-.
<br /> � • given effect without the conflicting provi,ion.To this end the provisions of this Security Instrument and the Note ure dectared .
<br /> to be severable. ' �
<br /> 16.Borrower's Copy.Borrawer shall be given ane conformed copy of the Note and of this Securiry Tnsirument. � �''�
<br /> �'' 17.Tran+fer of the Property or a Beneftcial Interest in Borrower. If all or any p�art oi'the Property or any interest in it . . •
<br /> ''�'' is sold or transferrcd for if a beneficial intcrest in Banowcr is sold or transfcrrect and Borrower is not a natural peMOn)without •
<br /> � "— - - l.ender's prior written consent. Lender may. at its optian, reyuire immediate p�aynient in fu11 of aU sums secured by this -
<br /> •� Security Instrument.Howcvcr, this option�hall not be exerciscd by Lender if cxercise is prohibited by federal law ati of the datc - , •
<br /> � - af this Sccurity instrumcnt.
<br /> lf Lender exercises this option. Lender shall give Born►wer notice of acceleration. The noiice shall pmvide a period af not
<br /> � � ' less than 30 days from the date the notice i�delivereci or mailed within which Borrawer must pay all �umx se�:ured by this .
<br /> _ '' . Sccurity lnstrument. If Eorrawer fail+to pay thesc sums prior to thc cxpiration of thi.period. l.ender may invoke any rcmcQics .
<br /> ���; . permitted by this Security Instrument without further noticc or demand on Borrowcr. �
<br /> 18. Bosro�ver'c Rip,ht ta ReinState. If Bnrrowcr meets certain conJitions, Borrower `hall have thc right to have �
<br /> enforcement of this Security imtrument discontinued at any time prior to the earlier of: (a) 5 days (�r such other periad as . . .
<br /> applicable law may .pecify fi�r reinstatemenu before sale of the Property pursuant to any pnwer af wle contained in this •
<br /> � Seturity lnstrument:��r(hl entry nf a judgment enforcing thi�Security Imtrument.Thosr runditiun+are that Bonowcr:ta)pay�
<br /> •:;�';'� l.ender all ,um� which then wuuld he Juc under thi� Security lmtrument and the N��te a�if nu acccleration haJ occurred: �b) ••
<br />- cure.r any default t�f uny other cuvenant,or agrcements: !c1 pay,all rxpcn.es incurred in enforcing [hi.r Seruriry In.trument.
<br /> ' including, but nut limital tu. rca�unablc attorncyti fccs; and (d) takr�+uch .ictian a. Iwndrr may rcasonably rcyuirc ti�a�surc
<br /> 'I� �'� ihat the lien of thi�Security In�trumrnt. L�:nder'�right�in the Property and &irrrnver'ti ubligatiun to pay the sums.recured by .
<br /> this Sccurity Imtrumrnt +hall continur unclianged. Upun reinstatcmcnt by Burruwcr. �hi, 5ccunty Instrumcut and thc
<br /> • uhlig�tiims,erureJ hereby sh.dl rcmain fully cffcctivc��if no ucreleraliun haJ uccurrcd. However, ihi�ri�ht to rcintitate tihall
<br /> ' � nut apply in thc ca�e nf acccicration undcr paragr.�ph 17. [
<br /> • 19. Sule ��f Aiotc: Chan�c ot' luan ticrviccr. Thc Ninc ��r u partial intcrc.t in thc Nutr Itogcthcr with thiti 5ecuriry
<br /> ' IrntrumcnU may hr.nld one ur mnrc timc+withuut prior nnticc to H��ttowrr. A+alr may r��ult in a changc in thc cnlity Iknown
<br /> '. - ati dir "l.��an 5crvirrr"1 that collrct,nwnthly paymrn��duc undcr�he N��tc und thi�5crurity lmtrumcnt. Thcrc alti��may bc onc
<br /> or mnre chan�cti��f Ih�l.��an Servirer unrclatrJ to a��Ir nf thr Nnte. If there i�a rhange�,F 1he l.�,an Servicer. B��rrnwer will hc .
<br /> � , � given aritten nuticr�,f thr change in acrordance�eith par.�graph 1-1 ahu�e unJ applicafile law: Thr n„tice will�tute the name anJ .
<br /> .. � addre��of lhr new la�an Scrvirer and thr adJm�.1�, whicl� payuicnt.�huuld hc madr. "fh� noticc will alu�ci,ntain any other
<br /> � infurmaliun rcyuir�f hy applicahlc I.iw. �
<br /> •� �� � � 20. Haiardouti tiub�tancc�. Acttruwrr .hall niu cau�r nr prrniit thr prcxnrc. u.c. �li.pn.al. �u+tage. ��r relc.+�c of any
<br /> '� � Hai:�rdnu. tiub,tanres un ur in Ihr hropCrt). finrrrnccr tihall n�,t do. n�,r :1NItl4 :mynnr nc� tn d�,, :my�hin,� :dfrctine Ihc
<br /> �•';.:
<br /> __ Pri,prrt� that i, in �i�datiun��(.im fimir„nnuntal Lau. �('he prerrdim� h�i��rnlrncr� ,h,dl n��l appl� h�th� �re�cncr. utir. nr �
<br /> , � � + ,torag¢��n thr Property ul.mull yuantiu�.�,1 H.i�arJ�,u. Suh.tanrr� ih.0 :irr�;cnerally recu��nvcd tn he appr��pn:ue In n�ttmal � .
<br /> - t rc.tdrnual u�r�:m�i U�m:untrnanrr�,f tnr Yr.�pcm --�---�---
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<br /> ;.. � .�� Form 3028 9/90 •
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