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<br /> , paym�nth may nu longer he rrquired.xt thc optian nf lander,if murtgage i��.tiurdnce coveragr(in thc.unount and titt di�pedc�d �t�"'
<br /> � th�at L.endrr requires) provtdrd hy xti inyurer apprnved by I.enJer uguin becomex avaiilxhlr xnJ is uhtt►lued. Barruwer tihall pxy _ `�`��
<br /> d�e pre�niums reyuireJ ro n�ainudi�murtgage i��.tiurance in effect,ot t��provide a luss reserve,until d�e royuirement for mi�rtgage � %��.•:�-
<br /> i��.tiurunce eudv iti acec�rcuu�eC wlth xny written agreetnent t�tween 8e�rrawer unJ Lend�r or applicable law.
<br /> . _ � 9.Inspectton. LenJer ur its agent may tuuke rr;wcmable entries upon and laypecticras of d�e Propeny. Lxncier shall give =_
<br /> � j Bonower nutice:it the dnie oFur prior ro an lt�.+pecdou specifyiag reasunable cause far t he i�L,pectiuu. - ^
<br /> � 10. Condemnation. Th�pruceedv uf any award ur claiai for dxmages, Jtrece or coa,eyuential, in comiection with any
<br /> � c a n d e n m a t i a n o r o t h e r t x k i n g u f�u►y p a n u f t h e P r o p e r t y, o r f a r co nve y ance in lieu af cundetntu►tiau, are hereb y tusi�ned und `---
<br /> � shall t�e paid to Lencter. _ -_-
<br /> Ip II1C CVCDL Ot ti IOfail Iitlflllb Uf IFIC P[OpBCIY,the praeeds shxll be applied to tlie sums secured by this Security Inst�uraent,
<br /> � whether or not then due, with xny excess paid to Bonower. In the event af a partixl taking of the Property in which the fair _
<br /> • , mtuket vnlue of the Property unmeciiately befarC thc tukiag is equal ta or greater thxn the sunount af the sums sewred by this -
<br /> ! Securiry latitrument inunediately before the tuking,unless Bonower und Lender otherwise agree in wridng,the aums secured by
<br /> sj this Security Instmmeat suall be reduced by the amouat of the proceeds multiplied by the following fntctian: (a) the total _
<br /> � amount of the swns secured im�uediately before the txking. divided by (b) the fair murket value of the Property immedlately
<br /> before the takiug.Any b�lance shxll be paid to Bonower. ln the event of a partial txking of the Property in which the fair
<br /> mtuket v;tllue of the Property iaunediately before the txkiag is less than the xntount of the sums secured Inunettiately before the _
<br /> riking, uuless Borsower and l.ender atherwise agree in writing ar unless applicable law otherwise provides, the praeeds shxll -
<br /> ' be applied to the sums secured by diis Securiry Instrunient whether or not the sun�s ure then due. _
<br /> r If the Property is abundoned by Bonower,or if,after no8ce by Lender to Borrower that the condemnor affers to muke an -
<br /> award or�etde a claim for damage�, Borrower f�ils ta respond ta Lxuder within 30 cixys aRer the cixte the notice is given,
<br /> ;� Lender is authorized to collec;t and apply the proceeds,at its opdon,either to restoradon or repair of the Property ar to the svms
<br /> , secured by this Security Iwtrumeut,whether or not then due.
<br /> Unless I.ender and Borrower otherwise agree In wridng, aay application af proceeds to princtpul sha11 not extend or �
<br /> ? postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such paymeats. ���
<br /> 11.Borrower Not Released;Forbearance By Lender Not a Waiver.Sxteusion of the time for payruent or mocilficadon �_�._ _
<br /> nf amortizatinn c�f the sums�ecured bv this Securitv Inctrument eranted bv Lxnder to anv successor in interest of Boctower shall �i�;,.�°__
<br /> not operate to reYease the Itability af the original Banower or Bonower's successors in interest. Lender shall not be required to °��,—
<br /> � commence proceedings against i►ny successor iu inrerest or refuse co extend time for payment or otherwise modify ainortizadon '�`
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<br /> of the sums secured by thia Security Iuscn�raent by mason of any demand made by the orig[tul Bonower or Bonower s ,r-
<br /> successors in intecest. Any forbean►nce by I.ender in exercisiag any right or remedy shall not be x waiver of or preclude the �, �;i
<br /> exercise of auy right or remedy. '�
<br /> . 12. Successors and Assigns Bound; Joint and Sevexal LiabSl[ty; Co-signers. Tue covenants aud agreements of diis =—
<br /> ±� Securlty Instnunent shall bind twd benefit the successors and assigns af[xader and Bonower, subject to the p[ovislons of
<br /> paragnsph 17. Borrower's covenants su►d agreements shall be joint :►nd several. My Bormwer who co-signs this Security
<br /> �;. Instrument but dces not execute the Note: (a) is co-signing this Se�:urtty Instrument only to mortgage, grant and convey that �;�—.
<br /> Bonower's interest in the Property under the terms of this Secudry Instivraent; (b)is not personally obligated to pay the sums �;� --
<br /> ;. secured by tlus Security Instrument;and(c)agrees diat Lender and xny other Barn�wer may asree to extend,modify,forbear or �-�
<br /> • make any accommaladous with regard to the temis of this Security Instrument or the Note without that Bonower's consent. .:`—
<br /> � 13.Loan Charges.If the loan secured by this Security Iatitrument is subject to a law which sets maximum loan charges, -��
<br /> and that law is finally interpreted so that die interest or other loau charges collecred or to be eollected in connecdon with the -
<br /> h�'� loxn exceed the pemutred linut�. then: (x)any sucli loan charge shall be reduced by the amount necessary to reduce the charge _-__-
<br /> ' ro the permitted ]imit; and (b)any sunis�lready collecred from Borrower whicl�exceeded pern�itted limits wiU be refunded to
<br /> � � , Borrower. I.ender may choose to make tbis refund by reducir�}; tl�e principal owed unJer the Note or by making a direct =v_ _ _ _
<br /> � payment to Bonower. If a refund reduces principal, the recluction will be treated as a partial prepayntent without uny
<br /> . . prepayment charge under the Note. - ,�,
<br /> 14.Notic�s.Any notice to Bonower provided for in this Security Irutrument shall t�e given by delivering it ot by muiling :,, , ;�::
<br /> it by first class rnail unless applicable law reyuires use of another method.The nodce shall he directed w the Property Address = ` • �-
<br /> or any other address Bonower designates by notice to I.xuder. Any noace to Lender shall be given by first clas�mail ro '���� i�_.S. �,,_
<br /> Lxnder's addre�s stxted herein or an other address Lender desi�nates b nouce ro Borrower. M notice mvided for in this �'.- +�:�. '•���.
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<br /> Security Instniment shall be deemed to have been given to Boaawer or Ixnder wlien given as provided in this paragraph, •_ :F`'
<br /> I5.Governing Law; Severabtlity. This Securiry Instrument shall be governed by federal law and the law of tlte �;.�,'��� .::,��:.� �
<br /> jurisJicaon in which the Property is located. In the event tliat auy provisiun ar clause uf d�is Securiry In�trun�ent or the Note -.
<br /> cuntlict�wid�applicable law,such contlict shall not affect odier provisio�u e�f this Security Iiutrument or d�e Note which can be •
<br /> given effect without die contlicting pravision. Tc�this end the prc�vision�of tl�i�Security Instrument and d�e Note are declarrd
<br /> to he scverable.
<br /> 16.Borrower's Copy. Borrower shxll he given one contiimied copy of the Note and��f d�is Security li�.�trument.
<br /> Form 3028 9/90
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