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<br /> 1 ut the o ilon of Lendcr,if mortgagc ins�rancc covcragc(fn thc amount and for thc period �,,n`
<br /> i paymcnts may no longcr bc rcquircd, p roved by l.endcr again bccomcs availablc and is obtained.Borrowcr shall pay thc�,p _
<br /> that l.cndcr rcqu'ue.q)providcd by an insurcr app
<br /> ' premiums required cc� meintain mongage insurencc in effect,or to providc s loss rescrve, undl the rcqu�rement for mortgagoOC� I ____
<br /> � insutance ends In accordance w'ith anY wr�t�°��ment betwcen Borrower and l.ender ur spplicabic law.
<br /> •-�""'y 9.Inapectbn. Lender or its agent may makc rcasonable cnMcs upon and inspccdons of thc Praperty. I-G►dcr shsiU give�i -
<br /> ,� if in rcasonablc causc for thc inspection. r'
<br /> Borcowcr noti�a a:the time of qr pdor to an ins(►ection spec y 8
<br /> � 10.Condemnatiom. 'i1�e proceeds of any award or claim for damages� direct or consequential,In canntxt�on with any � .„�
<br /> I condemnadon or other teking of any part of the Property,or for conveyance in lieu of condemnadon,are hereby assigned and _
<br /> shnll be paid w Lcnder. _T_
<br /> In ihe event of a total teking of the Property.the proceed�shall be applied to the sums securcd by this Security Instrument,�
<br /> whether or not ihan due.with any excess paid to Bormwer.In the event o`a�partial�u°��0��g�m �ecure�l by thi S�kry
<br /> value of the Propaty immediatelY before ihe tuking is cclual co or greate _
<br /> Insirument immediately before the talcing, unless Borrower and Lendcr otherwlse agree in wr�dr►B.the sums secured by this
<br /> Security Instrument shall ba rcduced by the amount of the proceecls muldplied by the following fracdon:�(a�th�t�al�fore[the �
<br /> th�Bumg secum.cl Lnmediately before the taking,divided by(b) the fair market value of th� �h�C fair market value of the
<br /> t a k i n g.M y balance shall be paid to Borrower.In the cvcnt uf a partial takjn8 of the Propercy _
<br /> property immedietely before the takin8writin s ar iuiless a plicable law otherwise pro c v d th e d i a t e l�s or���8��I� .__--
<br /> Borrower and Lender otherwise agree 8
<br /> stuns socured by this Security Instrument whether or not ihe sums ere then due.
<br /> If the Property is abandoned by Boaower,or if,after nodce by L.ender to Borrower that the condemnor ofiers to make sn
<br /> � award or settle u claim for damages�Hocrower fails to respond to Lender within 30 days after the date the nodce is given,Lender `
<br /> is at�thorized w collect and apply the proceeds�at its opdon,either to restoration or repair of the Property or to tho sums secured �•;;�
<br /> � by th�s Security Insm�rc►ent,whether or not then dae. r`,
<br /> Unless I,ender and Boaower otharwise agree in writir►B,enY aPPUcation of procecds to principal shall not eatend or postpone -
<br /> hs 1 and 2 or change the amount of such payments. �
<br /> the due date of the monthly payments referred w i►1 pareBraP '"
<br /> 11.Borrowu Not Rekased;Forbearance By I.ender Not a Waiver. Extension of thc dmc for payment or modificadon �
<br /> oI amviil7Sil8i1 af ihL�um°sec�d by��c Security Instrument granted by I.ender to any successor ft►iaterest of Borrower shall �--
<br /> ' not operata w release the liabiUty of the original Borrower or Bo�rower's successors in inter�s[.L.ender sh�i nut La iequircc!ta
<br /> commence pmceedinBs a8sins�anY success°r in inte�s�or refuse to extend time for payment or otherwise modify an►ordzarion of
<br /> the sums secured bY this Securlty Insuument by reason af any demand mede by the originul Borrower or Borrower's successors
<br /> �n interes� Any forbearanca by L.ender in exercising anY right or remedy shall not be a waiver of or preclude the eaercise of any
<br /> right or remedy. __
<br /> � lt.Successors and Aasigas Bound;Jofnt and Several Lixbility;Cn-signers. 'Ihe covenants a��d agreements of this
<br /> Securiry Instnunent shall bind and benefit the successors end essigns of Lender and Borrower, subjett to the provisions of
<br /> paragraph 17. Bonower's covenants and agreements shall be,joint and several. Any Borrower who co-signs this Security
<br /> Instrument but does not execute the Note: (a) is casigning this Securiry Instrument only to mortgage.gran
<br /> t az►d convey that
<br /> Borrower's interesc in the ProPertY w►dcr the tertns of this Sccurity Instrument;(b) is not PersonallY obllgated co pay the sums -.
<br /> secured by this Security Instrument;end(c)agrees thac L.ender end any othec Borrower may agree to extend,modify,forbear�r
<br /> make any accommodations with regard to the terms of this Security Instrument or the Note without that Bonower's consenG _
<br /> 13.Loan Cdarges. If tho loan secured by this Sxurity Instrument is subject to a law which sets ma�clmum loan charges,
<br /> end that 1aw is finallY interpret�i so that the interest or other loan cherges collected or to be coUected in wnnecdon with the loan ,�
<br /> ��d the permiued limits,then:(a)eny such loan charge shall be reduced by the amount necessary co recluce the chazge to the __ --
<br /> permiqed limit;and(b)any sums alreadY callected from Borrower which exceeded perrt►itted timits wiU be refunded to Borrower.
<br /> . Lender may choose to make this refund by reducing the principal owed under the Note ar by making a direct payment to
<br /> gorrower. If a refund reduces principal,the reducrion will be treated as a pactial prePayment without any prepayment charge _
<br /> under the Note. `�� •
<br /> 14.Notkes. My notice to Bonower provided for in Ihis Sesuriry Inswmcnt shall be given by delivering lt or by maillng it _,�T_�_
<br /> by fust class mail unless applicable law requires use of a�iother method.Tlte notice shall be d►rected to ihe ProPertY Address or ,,,,_-___
<br /> any other address Borrower designates by notice co Lender. Any notice to Lender shall be given by first class mail to Lender's �_ �
<br /> address stated herein or tu►y other address L.ender dcsignates by nodce to Borrower.Any nouce provided for in ihis 5ecurity ;,-_-_
<br /> � Instrument shall bc decmed w have bcen givcn ta Borrowcr or Lendcr when given as providcd in ihis paragraph• , � � .
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<br /> 15.Governing Law;Severabttity. This Securiry Instrumcnt shalt be governcd by federal law and the law of the ` ��_
<br /> jurisdiction in which ihe Property is located• In the event that any provision or clause of thts Security Instrument or thc Note
<br /> conflicts with applicable law,such conflict shall not affect other provisions of Ihis Securiry Instrument or the Note which can be
<br /> given effr.ct without the contlicting provision.To this end the provisions of this Sec�uity Instn�ment and the Note are dcclared to •
<br /> � be scverable.
<br /> � Farm 3028 9l90
<br /> 1 Pape4 018 innialc
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