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<br /> payments may no longcr be reqnir�d.at the optiun of I.ender,if mortgage insurance caverage(in the amount and for the period ' �����
<br /> �` - that L.eader requires)provided by an inaurer approved by Lender again becomes available:uid is obtaincd. Bmrowet shaU pay ,
<br /> �, ,'-°� the premius►u required to maintain mortgage insurance in effect.or to provide a loss reserve,unul the requimment for martgage � , 4 - , `
<br /> iasursnce ends in accoidance with any written agreement between Borroa�er ar►d Lender or applicable law. :. �„ .':.:�•.�
<br /> - �F 9. IRSpCCtIOA. Lender or its agent rtwy maks reasonable entries upon and iaspections o f t he P ropeny. L e n der s h a l l g i v e •f< � � ., �_; ;
<br /> ' ._ . � ,'. h .
<br /> °' .-�-; Borrower notice at the time of or prior to an inspection sperifying re�sonable cause for the inspection. .
<br /> - �'. �'� 10. Condemnation.The proceeds of any award or ctaim for damages.dirert or consequential, in connection with any � � �
<br /> �-� • —� co:►demnation or other taking of any part uf the Praperty.or for co�veyance in lieu of condemnation, are herehy a�+igned and - __,_-
<br /> . _ -
<br /> - � shall be paid to Lender. :� ! • '�.
<br /> ` ' [n t6e event of a total taking of the Property,the prooeeds shall be applied ta the�ums secured by this Security Inswment, ` �` ���
<br /> • �l� whether or not then due. with any excess paid to Barrower. In the event of a pazrial taking af the Property in which the fair 5 ". ." � :� , •
<br /> • � � �� marlcet vatae of the Property immediateiy 6efare the taking is equal to or grater than the amount of the sums secured by this -�-. �°�;, ��... °.--
<br /> .. ' �, � '.�: ..
<br /> < � Security Instrument inunediately before the taking, unless Bormwer and Lender otherwise agree in writing,the sums secured by ,
<br /> -� � �.� � •s� this Security Insvument shall be reduced by the amount of the praceeds multiplied by the following fraction: (a) the total . '" ,•z '�'�L
<br /> •� . _. ; amaunt of the sums secured immediately before the taking,divided by(b3 the fair martcet valne of the Property immediately • ��."=_
<br /> r � `.•'.i�'�+-�� -��
<br /> ` • . f before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Properry in which the fair . �� , __
<br /> _- � . . � market value of 4he Pmperty immediately before the taking is tess than the amount af the sums secured immediatety before the s �`4 i`' _-
<br /> , � •;-� taking,unless Horrower and Lender otherwise agree in writing ar unless appli�able!aw otherwise pmvides, the procee35 shall
<br /> , .. . ; ._� be applied to the sums secvred by this Security Instrument whether or not the sums are then due. ,_�'"� , • ,M�`_
<br /> If the Property is ahandoned by Borrower,or if,after notice by Lender to Borrower that the condemnor offers to make an �-,�."E;, �
<br /> ; '; ' (`-� award or s e t t le a c iaim for d a m ages.Borrower f a i ls to res p o n d t o L e n d e r w i t h i n 3 0 d a y s a f t e r t h e d a t e t h e n o t i c e i s g iv e n. _ ��`��'
<br /> � ��
<br /> Lender is authorized to collect and apply the praceeds.at iu option,either w restorauon or repair of the Property or to the sums —
<br /> �`: � .;' secured by this Security Instrument,whether or not then due. �
<br /> � � � Unless Lender and Borrower othemise agree in writing, any application of proceeds to principal shall not extend or , •' � —.
<br /> : ```�• ��
<br /> postpone the due date of the monthl ayments refemd to in hs 1 and 2 or c e the amaunt of such yments. ` �--'
<br /> Y P P��P �S Pa � �f��
<br /> �� 11.Borrower Not Reteased; Forbearence Iiy I.ender Not a Wa3ver.Extension of the time for payment ar modification ;:;-. t' ,-.'�..�I
<br /> . �� , � of amortization of the sums secured by this Securiry Instrument grdnteii by Lender to any saaessor in interest of Borrower shall -��;�_.•:�,'
<br /> ti.�-,:
<br /> ' • • not operate to relrase the liability of the original Borrower or Borrower's successors in intecest. Lender shall not 6e required to <'�� . .. . ::,.�
<br /> � wmmence praceedings against any successor in interest or refuse to extend time for payment or otherwise modify artiortization t ' . ;T—��:
<br /> • ' t of the sums secured by this Security Instrument by reason of any demand made by the origirtal Borrower or Borrower's � •• ir rt�:�
<br /> '���`` ,, .: successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude ihe =_�
<br /> � exercise of any right or remedy. ' � , . '�
<br /> � � 12. 3uccessors and Assigns Bonnd; Joint and Several Liubtlity; Co-stgne�s. The covenants and agreemenu of this � , .: i;y���:
<br /> � � Security lnsvument shall bind and benefit the suc:cessors and assigns of Lender and Bonower, subject to the provisior•s af '•�:�r�
<br /> paragraph 17. Borrower's covenants and agreemenu shall be joint and severat. Any Barrower who co-signs this Security = ''z;':�'
<br /> t and conve thai '��4':'�
<br /> - ' - ; Insttument but does not execute the Note:(a) is co-signing this Security Instrament only to mortgage,gran y . , ,c,;�,�.
<br /> � � Borrower'4 interest in the Property under the terms of this Security Instrnment:(b)is not personally obligated to pay the sums •• - -- f.`;::
<br /> • secured by this Suuriry Inst�ument:and(c)agrees that Lender and any other Borrower may agree to extend,madify,fofiear or �. =��"
<br /> ,�� � make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. , ',+� .`«
<br /> ' � ' 13.Loan Charges.If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges. �• s°fa.
<br />;�;;: � and that faw is finally interpreted so that the interest or other loan charges mllected or ta be coltected in connection with the :,: " . ��,
<br /> _.,,. ,. _.
<br /> � � �� loan exceed the permitted limits,then: (a)any such loan charge shall be reduced by the amount necessary to reduce the charge z'� ,_ �
<br /> to the permitted limi�and(b)any sums already colleded from Borrower which exceeded permitted limits will be refunded ta ��_
<br /> . � Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct �
<br /> � payment to Borrower. if a refund reduces principal. the reduction will be treated as a panial prepayment without any • •�.;�•� "
<br /> ` �: , ��� prepayment charge under the Note. ". . � .'
<br /> . • 14.Notiees.Any notice to Borrower pravided for ir th�t Sccurity Instrument shall be given by delivering it or by mailing •.. .. � ,
<br /> • � � it by first class mail untess applicable law requires use of another methad.The notice shall be directed to the Property Address ' .
<br /> • . ., or any ather address Bonower designates by aotice to Lender. Any notice to Lender shall be given by first class mail to `;';;,...,
<br /> � .. l.ender's uddress stated herein or any other address L.ender designates by notice to Horrower. Any notice provided for in this � '`'�' .'
<br /> . �. • .• � Security lnstrument shall be deemed to have been given to Borrowet or Lender when given as provided in this paragraph. . • •
<br /> � 15.Governin� Law: Severabllity. This Securi[y Instrument shali be govemed by federal law and the law of thc ,
<br /> ' . ' ' jurisdiction in which the Property is located. In the event that any provisiai►or clause of this Security lnstrument or the Note � •�• ��
<br /> ' � • canflicts with appli��abte law,such cnnflict shall not affect other provisions af this Security instrumtnt or thc Note which can be ' �
<br /> � • given effect without the confticiing provitiian. To this end the provi,rons of this 5ecurity Instrument and the Nate are declared . , •
<br /> � io be severablc. . . .
<br /> , � 16.Borro�rer's Copti�.Borrower shall be given one canformed copy of'the Note and of this Securiry lnstrument. .
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