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<br /> _ ; pu��mcnts may nn longer he rcquircd, ut thr nptian c�f[.cnder, if mortgugc insurance ccrveruge Un thcumaunl� wd
<br /> ,,:.,-_;','� thut l.ender requireti)providcd Uy un insurer appruvul by I.�:ndu abain becomes available and iti oMai�te�l. Bnrmwer shall pay �
<br /> � � the premium�requircd to muintain mortgase insuruncc in effcct,or to provide u luss reserve.until thc rcquiren�ent for mortgnge
<br /> � insurance endti in arcordance with any written ugreement between Borrower und Lender or uppliculzle law.
<br /> ��,. 9. [nspecttan. L.cnder or itx agent may make rcasonuble cntries upon and inspections of the Propeny.Lender shull givc
<br /> " 'r Borrower nutice at the time i�f c�r prior to un inspection spc.�cifying reaconable cuuse for the inspection.
<br /> ? 10. Condemnution. Thc proceeds of any award or claim for damages, direct or consequential, in coi�nection with any _
<br /> , �� conJemnatian or other taking of any part of the Propeny.or for conveyance in lieu af condemnation, are hercby ussigned and
<br /> shall be paid to Lender,
<br /> �•• In the event af a total taking of the Property, the proceeds shall be applied ta the sums secured by this Security Instrument,
<br /> � � whcther or not then due, with any excess paid to Borrower. In ihe event a(a purtial tuking of the Praperty in which the fair
<br /> - market value of the Property immediatcly beforc the taking is equal to or grc:ater than the amount of the sums secured by this
<br /> Security instrument immediately before the taking, unless Borrower and L.ender otherwise agree in �vriting,the sums secured by
<br /> this Security Instrument shull be reduced by the amount of the proceeds multiplied by the following fraction: (a) the totnl
<br />� amount of thc sums secured immediately before the taking, divided by (b)the fair market value of tt►e Property immecliately -
<br /> �r before the taking. Any balance shall be paid to 8orrawcr. In the event of a partial taking of the Propeny in which the fair
<br /> �„ markct valuc of thc Property immediately before the tnking is Icss than the amount of the sums secureci immediately before the _
<br /> - � .;� takin�, unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides,the praceeds shall
<br /> be uppliecl to the sums secureci by this Security Instrumcnt whethcr or not thc sums arc thcn due.
<br /> If the Property is abandoned by Borrower,or if,after notia by Lendcr to Borrower that the condemnoroffers to make an
<br /> awurd or �ettle a claim for damages, Borrower fails tn respond to I..ender within 30 days after the datc the notice is given.
<br /> � L.ender is authorized to collect and apply the praceeds,at its option, either to restorution or repair o(tlie Property or to the sums
<br /> • secured by this Security[nstrument,whether or not then due.
<br /> Unless Lender und Borrower otherwise agre: in writing,any application of proceeds to principal shall not extend �r
<br /> pastpnne the due date of the monthly paymen[s referreci to in paragraphs 1 and 2 or change the amaunt of such payments.
<br /> 11.Borrower Not Released;Forbearance liy l.ender tvot a Waiver.Extension of che iime fur puyu.c��t u��iiadification
<br />�, of umortizatian of the sums secured by this Security Instrument grnnted by Lendar to any successor in i nterest of Borrawer shall
<br />� , not operate to rclease the liability of the original Bonower or Borrower's successors in interest. Lender shall not be required to
<br /> commence proceedings ugainst any successor in interest or refuse to extend time for puyment or otherwise rnodify amortization
<br /> of the sums secured by this Security Instrument by reason of uny demand made by the originul Borrower or Borrower's
<br />- vuccessor� in interest. Any forbearunce 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 />-• 12. Successors and Asslgns Bound;Jotnt und Several Liabllity; Co-signers. The covenants and agreements of this
<br /> Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower. subject to the provisions of
<br /> •. paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower wl-io co-signs this Security
<br /> !�• Instrument but does not execute the Note:ln) is co-signing this Security Instrument anly to mongage,graM and convey that
<br />��.� � �� ri Borrower's interest in thc Property under thc terms af this Security Instrument; (b) is not personally obligated 2o pay the sums
<br />- � . secured by this Security Insnvment: and (cl ugrces thut Lcndcr and any ather Borrower may agree ro extend,modify. forbcar or
<br /> • make any uccommodatians with regurd to the terms of this Security Instrunxnt or the Note without thut Borrower's consent.
<br /> 13. Laan ChArges. if the loun secured hy this Security Instrument is subject to a luw which sets maximum loan charges,
<br /> ' und that law is finully interpreted so that the interest or other loan charges collected or to be collectE:d in connection with the
<br />' loan exceed the permittecl limits,then: (a)any such loan charge shsll be reducecl by the umount necessary to reduce the cliarge
<br />� to the permitted limit;and(b) any sums alreudy coUecteci frorn Borrower which exceeded permidal 1 imits will be refuttded to
<br /> ' Borrowcr. L.ender may chonse ro make this refund by reducing the principal owed under the Notc or by making a direct
<br /> - � payment to Borcower. If a rrfund reduces principal, the reduction will be treated as :t purtial pmpayment without any
<br /> % prcpayment chargc undcr thc Notc.
<br /> ' 14. Notic�. Any notice to Borrowcr providui for in this Securiry Instrument shull be given by dclivering it or by mailing
<br /> ' it by first class mail unlcss applicable luw rcyuires u+c of anothcr method.Thc noticc shall be di rcctcd io thc Propeny Address
<br /> � a ur uny uthcr address Burrowcr Jctiignutes by notice to Lendcr. Any notire to L.ender shaU be given by first class mail to
<br /> - +1 Lcndcr'ti aJdress statcd hcrcin ar any othcr addretis Lcndcr dcsignates by noticc to Borrowcr. Any notice provided for in this
<br /> t Securiry Instrumcnt shall bc dccmcd to havc becn given to Borrower ur LenJer wlicn given as pr<ivideci in this paragraph.
<br /> 15. Govecnin� Law; Severubility. Thi, Security Instrument shall bc govcrned by federal la�v and the law of the
<br /> � jurisJirtion in whirh the Propeny is IocaleJ. In the event thut any pmvision or clause of this Sccurity Instmment or the Note
<br /> contlicts with applirablc law, wch canfl icl shall not affcrt othcr prrn�isions uf thi,Sccurity Instrumcnt or thc Ncite which can bc
<br /> givcn eft'crt without thc runfli�ting provi�ion. Tu thi.end thc prcivision,ut this Security Intitrunxnt an�l the Note ure declared _
<br /> a�be ticvcrahlc.
<br /> 16. I3orro�rer's Copr•. B<�rrowrr shall he given unr confurm�d rupy uf thr Notr and ut'thiti Sccu rity I n�lrumcnt.
<br /> Form 3028 9l90
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