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<br /> i paymcnts may no langcr bc required,at thc optian of Lendcr,if mongagc insurancc covcragc(in thc amount und for thc period r
<br /> thnt Lcndcr rcquires)provided by an insurcr app�avcd by I.ender again bccometi availablc and is obtaincd. Borrowcr shall pny thc ��
<br /> •I prcmiums requucd to maintain mongagc insurancc in cffcct, or to providc a lass rescrvc, unbl thc rcc{uucmcni for martgagc�
<br /> � insuranee ends in accordance with any wriuen agreement between Barrower and I..ender or applicable law. Qp
<br /> 9.Inspection. Lcndcr or its ngcnt may makc rcasonablc cntrics upon and inspcctions of thc Property. I.cndcr shall givc�
<br /> , � Borrower nodce at the time of ar prior to an inspection spccifying reasonable cause for the inspecGon. ,,�, _
<br /> 10.Condemnation. The proa�eds af any award or claim for damages, direct or consequential, in connecuon with any�•°
<br /> condemnation ar other taking of any pan of the Property,or for conveyance in lieu of condemnation,are hereby assigneci and W ,
<br /> sha116e paid to L.ender.
<br /> In thc cvent of a total taking af the Property,the procecds sh�ll bc:applied to the sums sccured by this Security Insuument,� '-
<br /> whcthcr or not then duc,with any excess paid to Borrowcr.In the event of a partial taking of the Property in which the fair markct . �..�
<br /> valuc of the Property immcdiatcly bcforc thc taking i.s equn]to or grcater�han thc amount of tha sums secured by this Sccurity � ������-'
<br /> • Instrument immediately bcfore Ihc taking, unless Bonower and Lender o1hcrwise agree in writing, the sums secured by this -��
<br /> Security Instrument shall be rcduced by�he amount of the proceeds mulGplied by the following fracdon: (a)the total amount of � `
<br /> the swms secured imrnediately befae the taking, divided by (b) thc fair market valuc of the Property immediately before thc � -��
<br /> talcing.Any balance shall bc paid to Borrowcr.In the event of a partial taking of thc Property in which the fair markct valuc of thc
<br /> Property immcdiatcly bcfore thc teking is Icss than the amount of thc sums secured immcdiately bcfarc thc taking, unless
<br /> Borrower and Lendcr athcrwisc agrcc in writing or unless applicablc Iaw othcrwisc providcs, thc pracecds shall be applied to Ihe �
<br /> sums secured by this Securiry Insuvment whether or not the sums are then due.
<br /> If thc Property is abandoncd by Borrowcr. or if,aftcr noticc by L.endcr to Borrowcr that the condemnor offers to mekc an
<br /> , award or setile a claim for damages,Borrower fails to respond to L.ender within 30 days after the date the notice is given,Lender
<br /> is authorizcd to collect and apply the proceecls,at iu option,either to restoration or repair of the Property or to the sums secured _
<br /> by Yhis Security Instrument,whGher or not then duc.
<br /> �• Unless Lender and Bonower oUierwise agree in writing,any applicaaon of procceds to principal shall not extend or postpone
<br /> .' the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. ;�'
<br /> 11.Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of Ihe wne for payment or modificauon _
<br /> ' of amortization of thc sums secured by this Security Instrument granted by Lender ta any succcssor in interest of Bo�rower shell ��.�
<br /> not operate to release the liabiliry of the original Borrower or Borrower's successors in interest,L.ender shall not be required to �y+•-_
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<br /> commence proceedings ageinse eny suc;cessvr in ini�rrat or refu�tu caiand tir,►e fur�,aymeni or atherwi�:madify amatiization of ' � '�`"'�
<br /> • the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Boaower's successors �.'=�•� ��
<br /> in interes�Any forbearttnce by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercisc of any .�;!;"- �'"�'
<br /> right or rcmedy. �`;,•. ,
<br /> " 12.Successors and Assigns Bouad;Joint and Several Liability; Co•signers. The wvenents and agreements of this � ��
<br /> . Sccurity Instrument shall bind and benefit the successors and assigns of Lender and Borrower.subjoct w the provisions of ..�,�� �
<br /> paragraph 17. Borrower's covenants and agrecments shall be joint and several. My Boaower who casigns this Security l�'
<br /> Inst:ument but does not execute thc Note: (a) is co-signing this Sccuriry Instrument only Lo mortgage, grant and convey that
<br /> Borrower's interest in thc Property undcr thc tcrms of this Security Instr�ment; (b) is not personaUy obligatcd to pay the sums '°' � • '�-�
<br /> � secured by this Security Instrument and(c)agrees that Lender and any other Borrower may agree to extend,modify,forbear or ��
<br /> � make any accommodadons with regard to the terms of this Security Instrument or the Note without that Boaower's consenG t� j
<br /> 13.Loan Char�es. If thc loan secured by this Securiry Instrument is subject to a law which sets maximum loan charges, .�•�='�'
<br /> � and that Iaw is ffnaUy interpreted so that the interest or other loan charges collectcd or to be collected in connecdon with the loan ��"''
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<br /> exeeed the permitied limits,then: (a)any such loan charge shall be reduced by the amount necessary w reduce the charge to the ��
<br /> � pemiitteil limit;and(b)any sums already collected from Borrowcr which cxcecdcd permittcd limits will bc rcfundcd to Borrowcr. ..�.::,,_
<br /> - Lcnder may choose to makc this refund by reducing the principal owed under the Note or by making a direct payment to � '=���
<br /> � Borrower. If a refund reduces rinci al,the reducdon will be ueated as a artial re a ment without an re a ment char e ` -� `�
<br /> P A P P P Y Y P P Y 8 �?•.:3;,��--._.
<br /> j under the Note. ° _ -°-�
<br /> j 14.1Votices. M notice to Barower rovided for in this Securit Instrument shall be iven b deGverin it or b mailin it �?�'� �
<br /> � by first class mail un�s applicablc law requires use of another method.The notice shall be directed to the Property Addres.�or ����"-���
<br />- � any other address Bonower designates by notice to Lender.Any notice to Lender shall be given by C�rst class mail to Lender's . l "� �.:� ��
<br />_ , address statcd hercin or any other address Lender designates by noticc to Borrower. Any notice provided for in this Sccurity• . .' ��`'�� .
<br /> � , Instrument shall bc dcemcd to havc bcen given to Borrowcr or Lcnder when givcn as provided in this paragraph. I "
<br />� 15.Governing Law;Severa6ility. This Sccurity Instrument shall be govcrncd by fedcral law and 1hc law of thc
<br /> jurisdiction in which the Property is located. In the event that any provision or clause o(this Security Instrument or the Note � . •
<br />_ � conflicts with applicable law,such conflict shull not aftect other provisions of this Security Ins�rument or the Note which can be ,
<br /> i given effece without the conflicting provision.To this end the provisions of this Security Instrument and the Note are declared to
<br /> � bc scvcrablc. ' ' ,
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<br /> - � Form 3028 9/90 I
<br />_ , Q�ijo•8R(NE)�s2�2�o+ Pepe4of6 �n�uain:
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