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<br /> ` �`�� � " �'' paymenu may no longer be required,at the option of[.ender,if mongage insurance coverage lin the amaunt and for the periad
<br />_ • 1"t�.� ���� t6at Lender requims)provided by an insurer approved 6y L.ender again 6ecomes available and es obtained. Borrower shalt pay . ''��'�' ` �
<br /> n� .q the premiums required to maintain mortgage insurance in eff�t,or to provide a loss reserve,until the requirement for martgage. "• . �+.�
<br /> � � insurante ends in accordance with any written agreement between Bnrrower and Lender or applicable law. z . -, . � -
<br /> • •' .,�1 9.Inspection.Lender or it�agent may make reasonable entries upou and insFection�of the Property. Lender shall give (� ; ,
<br /> � �� Borrower notice at the time of or prior to an inspec[ion�pecifying reasonable cause for the inspection. � °-
<br /> 10.CondannatIon. The pmceeds of any award or ctaim for damages.direcc or consequential, in rnnnection with any j E =
<br /> . "' condemnation or other taking of any part af the Property,or for conveyance in tieu of condemnation,are hereby assigned anc� ` �
<br /> � shall be paid to Lender. � . 'a:: �;:� `
<br /> - • ` In the event of a total taking of the Property,the proceeds shall be applied to the sums secured by this Security Ltctrument}ii ��."- '�.,f:!•
<br /> . .�. ' `. ' whether or not then due. wtith any excess paid to Borrower. In the event of a partial talcing of the Property in which the fai�1 `� :`' .'
<br />- '" : :v .;` market value of the Property immediatety before the taldng is eqaal to or greater than the amount of the sums secumd by thi� '�.:,�' -. _-',•. .1:-
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<br /> � ! Security Instrument immediately before the taking.unless Borrower and Lender othsrwise agree in writing,the sums secured b < �.Y.:.,�.�.. ,•�..=r-,=..--
<br /> this Secucity instrument shall be reduced by the amount of the proceeds multiplied by the fotlowing fraction: (a)the total , . , �� ���'=-
<br /> � amount of the sums secured immediately before the taidng,divided by(b) the fair m3rket value of the Property imtnediazely
<br /> , . `� before the taking. Any balance shall be paid to Borrower. In the event of a partial taldng of the Property in which the fair ` ' ' ��xf=��
<br /> � � ' ;� market vatue of the Property immediatety 6efore the taking is less than the amowrt of the sums secured imRtediately before the `t, j f ._,
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<br /> �. ,_,_z, taking, unless Barrower and I.ender otherwise agree in wriring or unless applicable taw otherwise provides, the praceeds shall 7 k�.g�`,1,F�.__�
<br /> ;�' be applied to the sums secured by this Security Insuument whether or not the sums are then dae. �� , �? ,�.
<br /> :� If the Property is ahandoned by Borrower,or if,after notice by Lender to Borsower that the condemnor offers to make an • '� �
<br /> �""" ' �. `"� award or settte a ctaim for damages. Borrower fails ta respond to Lender within 30 days after dte date the notice is given, : .;r. •�:_ '�'—
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<br /> Lender is authorized to collect and apply the praceeds.at its option.either to restaratian or repair of the Property or to the sums
<br /> �, . secured by this Security Instrument,whether or not then due. ����
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<br /> Unless Lender and Honawer otherwise a�r�e in writing, any appiicarion of praceeds ta principal shall not extend or •=��•-. �,,.�,��
<br /> � .. postpone the dae date of the montbly payments referred to in paragraphs 1 and 2 or change the amount of such payments. ' 3�:�',,;,�,='
<br /> � ' 11.Borrower Not Refeased;Forbearance By Lend�xr Not a Waiver.Extension af[he time for payment or modification ." �
<br /> ' ' • of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest uf Barrower shall , ,:••���';
<br /> . • rtot operate to release the liability of the orig�nal Borrowcr or Borruwer's successors in interest. Lender shall not be required W ��__-_-=
<br /> ' • commenre proceedings against any successar in interest or refuse to eatend time for payment or otherwise madify amortization .'."<,�,z��
<br /> . of the sums secured by this Security Insuument by rea5on af any demand made by the original Borrower or Horrower's : . , —_:
<br /> . saccessars in interest. Any farbearance by L.ender in exercising any rignt or remedy shall not 6e a waiver �f or preclude the , . ., ',_;,,a__
<br /> • , exemise of any right or remecly. " � � '��
<br /> ' 12. Successois and Assfgns Boand;Joint and Several Ltability; Co-signers. The covenants and agreements of this . • �"' �
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<br /> �� ' ' • Secarity Instrument shall bind and benefit the successars and assigns of Lender and Borrower. subject tv the provisions of . -_
<br /> paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security : =---i--
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<br /> . Instrument but does not execute the Note: (a)is co-signing this Security Instrnment only to mortgage, grant and wnvey that • .Q;�__
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<br /> •, , Borrower's interest in thc Praperty under the terms of this Security Instrument: (b)is not petsonally obligated to pay the sutns � �• �. .�.v�_,
<br /> ' . secured by this Securiry instrument:and(c)agrees that lxnder and any other Borrower may agree to extend. modify,forbear or . ... s��
<br /> � � make any accommadations with regard ro the terms of this Security Insttument or the Note without that Borrower's wn�ent. � -
<br /> ' � � � 13. Laan Charges.If the loan secured by this Security Insuumenc is subject to a law which sets mauimum loan charges. ' ` . • '.--�;,
<br /> ' � • and that law is finally interpreted so that the interest or other loan charges collected or to be collectect in connection with the • ��
<br /> � loan exceed the permitted limits,then:(a)any such loan charge shall be reduced try the amount n�sary to redace the charge � � '�`
<br /> -.� - '� to the permitted limit:and(b)any sums already collected from Borrower which exceeded permitted limits wil!be refunded to . � = .�'
<br /> . • � � Bonower. Lender may choose to make this refund by reducing the principa! owed under the Note or by making a direct . _-'--''-
<br /> � • "{'� payment to Bonower. lt a refund reduces prin�ipal, the reduction will be treated a5 a partial prepayment without any ,'•"
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<br /> � • prepayment charge unc;er the Note. ' ' ::�'
<br /> '•.� � �.. 14.Nottces.Any notice to Borrowcr provided for in this Security Instrument shali be given by delivering it or by mailing • . , . '
<br /> ". .. it by first class mail unless apalicabie law requires use of another method.The notice shal!be direcced to the Property Address .
<br /> : . or any othcr address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to , • . . �
<br /> ' . • � Lender's s�ddress stated herein or any ather address Lender designates by notice to Bonower. Any notice provided for in this . •
<br /> ,_. � . Security Instrument shall be deemed to have been given to Bonowcr or Lender when given as provided in this paragraph. • °,
<br /> ; 15.Governing La�v; SeverablUty. This Security Instrument shall be govemed by federal law and the law of the • , • . . .
<br /> �`�;. • jurisdiction in which the Property is located. ln the event that any provision or clause uf this Securiry Instrument or the Note •
<br /> ' conflic�s with applicable luw,such contlict shall not affcxt other pravisions of this Security Instrument or the Note which can be •
<br /> givcn cffec+ withoW ihc conflicting provision.To this cnd the provisions of this 5ccurity Instrument and the Note are declared . . ,.
<br /> ���; to be.rcverable. . ' . •
<br /> • � 16. Borrower's Copy.Borrower shall be given one conformed copy of the N��te and of this Security Insirument. � �. �
<br /> ' Form 3028 9/90 � . ��
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