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<br /> � at the option of Lender, if mortgage insurance coverage (in the amount and for the period that I.ender requires) I ��
<br /> � provided by an insurer approved by Lender again becomes available and is obtained. Borrower shall pay the premiums I =_
<br /> r required to maintain mortgage insurance in effect,or to provide a loss reserve, until the requirement for mortgage � �
<br /> � ineurance ends in accordance with any written egreement between Borrower and I.ender or applicable lew. i _
<br /> 9.Inspection.I.ender or its agent may make teasonable entries upon and inspections of the Property.I.ender shall � I
<br /> give Borrower notic;e at thr time of or prior tu an inspec:tion specifying reasonable cause tor the inspection.
<br /> I10. Condemnation.The proceeds of any award or claim for damages,direct or consequential,in connection with � I +►
<br /> � any condemnation or other taking of any part af the Property,or for conveyance in lieu nf condemnation,are hereby y.i r
<br /> j assigned and shall Y�e paid to I.ender. + -`
<br /> In the event of a tutal taking of the Property, the proceeds shall be applied to the sums secured by this Security Fi
<br /> ' Instrumont,whether or not then due,with any excess paid to Borrower.In t heevent o f a partia l ta king of the Property in l i� �
<br /> �� which the 4air market value of the Property immediately before the taking is equal to or greater than the amount of the � .-
<br /> ��;�:�s�:�.=
<br /> sums secured by this Security Instrument immediately before the taking,unles.s Borrower and I,ender otherwise agree N ._■��'=-�'
<br /> •�� in writing,tha suma secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by
<br /> the follawing fraction: (a) the total amount of the sums secured immediately betore thetaking,divided by (b) the fair
<br /> market value of the Property immediately before the taking.Any balance shall be paid to Borrower. In the event of a ��w-_�
<br /> partial taking of the Property in which the fair market value of the Property immediately betore the taking is less than .
<br /> the amount of the suma secured immediately before the taking,unless Borrower and Lender otherwise agree in writing
<br /> or unless applicable law otherwise pruvides, the proceeds shall be applied to the sums secured by this Security � �_
<br /> Instrument whether ar not the sums ar� +hen di,
<br /> If the Property is abandoned by Borrower,or if,after notice by I.ender to Borrawer that the condemnor offers to
<br /> make an award or settle a claim for damages, Borrower fails to respond to L,ender withir.30 days after the date the
<br /> notice is given, Lender is authorized to collect and apply the proceeds,at its option,either to restoration or repair of the —
<br /> Property or to the sums secured by this Security Instrument,whether or not then due.
<br /> � Unless Lender and Borrower otherwise agree in writing,any applicationof proceedato principal ahall not extend or �,
<br /> postpone the due date of the monthly payments refened to in paragraphs 1 and 2 or change the amoti�nt of such °��-
<br /> payments. . •
<br /> , 11. Borrower Not Roleased;Forbearsnce By Lender Not a Waiver. Extension of the time for payment or
<br /> modification of amortization of the sums secured by this S,;curity Instrurnent granted by Lender to any successor in
<br /> interest ot Borrower shall not operate to release the liability of the originel Bonower or Boreower's successora in `�� .
<br /> intereat. T.ender shall not be required to commence proceedings against any successor in interest or refuse to extend __ 't�':`; •
<br /> time for payment or otherwise modify amortization of the sums secured by this Securit} Inatrument by reason of any - `;��:
<br /> demand made by the original Borrower or Borrower's successors in interest.Any forbearance by Lender in exercising '`d �, ;�.:;
<br /> any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. ,� :
<br /> i 12. Successors and Assigns Bound; Joint aad Sever�l Liability; Co-signers.The covenants and agreements
<br /> Iof this Security Instrument shall bind and benefit the euccessors and assigns of Lender and Borcower,aubject to the _ :: ,
<br /> i provisions of paragraph 17.Bonower's covenants and agreements shall be joint and severel. Any Borrower who co-signs L �
<br /> this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument onl,y ta mortgage, '` `�'
<br /> � grant and convey that Bonower's interest in the Property under the terms of this Security Instrument; (b) is not �
<br /> personally obligated to pay the sums secured by this Sec:urity Instrument;and (c) agree.s that I,ender and any other ."� _
<br /> Borroaer may agree to extend,modify,forbear or make any accommodations with regard to the terms oi this Se�urity � _
<br /> Instrument or the Note without that Borrower'a consent.
<br /> 13. Loan Chargea. If the loan secured by this Security Instrument is subject to a law which sets maximum loan �:'�t.—
<br /> charges, and that la�v is finally interpreted so that the interest or other loan charges collxted or to be collected in ����
<br /> connection with the loan exceed the permitted limits, then: (o) any such loan charge shall be reduced by the amount °-.---
<br /> �i?�•-:�'
<br /> necessary to reduce the charge to the permitted limit; and (b) any surns already collected from Borrower which ,r,,,,�;
<br /> exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the '';=:=.-
<br /> " • principal owed under the Note or by making a direct payment to Sorrower.lf a refund reduces principal,the reduction '"'�'���
<br /> will be treated as a partial prepayment without any prepayment charge under the Note. ':,�`?'�;�"'""!
<br /> 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by •
<br /> mailing it hy first class mail unless applicable law requires use of another method. The notice ahall be directed to the `��4 ,�•y,,,, :•
<br /> Propecty Address or any other address Borrower designates by notice to Lender.Any notice to Lender shall be given by ��;�•.;j:- ,�y;,�.
<br /> fi�st class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any . .
<br /> notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given � �
<br /> as provided in this paragraph.
<br /> IS. Governing Law;Severability.This Sectirity Instrument shall be governed by federal law and the Iaw of the -
<br /> jurisdiction in which the Property is located.In the event that any provision or clause o{this Security Instrument or the
<br /> Note conflicts with applicable law,such conflict shall not affect other provi sions of this Security Instrument or the Note
<br /> which can be given effect without the contlicting provision.'I'o this end the provisions of this Security Instrument and ;
<br /> , the Note are declared to be severable. I
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<br />� i Form 302e 9/ 0 i
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