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<br /> • ' � at the optioa of Leader.if mortgage insurance coverage(in the amouat and for the per€od �'``� ` ,
<br /> < , �'.,:. . . PaYments mall no loager be required. . •`
<br /> � ' �•.F that Leuder requires?Pmvided by an insurer approved by Lender again becomes available and�s obtained. Borrower shali PaY . ....
<br /> � . the piemivans�tequired W maintaiu mortgage inc�,.ance in effect.or to provide a loss reserve.until the requirement for mortgage � ` ` '4'�.'
<br /> . ' � . ������e wtth any written ag�ment benveEn Bonower and Lxader or applicable law. � - . ?._
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<br /> • � , 9.Iaspecttoa. Iender or its agent may maYe reasoaable entries upon and inspeaions of the Fmperty.Lendex shaU gire .'r �; .. ,:.G .,.
<br /> � .:�. �easoaable cause for the inspectian. .•.
<br /> .. .' � Borrower aodce at the time of or prior to an inspection speci€ying
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<br /> 10. Condemaatton. 7'he pmoceds of any award or claim for damages. dire�or consequeatial. in cnnnec[ion with aay ' 4"" '�
<br /> . wndemnauon or otner caking of aay p�i vi iac�opc��ty.�f.3r:�.;,'�x ia:i�:ef�•nnPm.+annn. 9re heneby assigned and =
<br /> � � " . st�all be pa�d to Ixnder. � °
<br /> ' � (n the event of a totat taking of the Property.the pmceeds sha11 be applied to the sums secured by this Securiry Insuument. _ '���
<br /> ,=��--� whether or not ihen due.with auy exoess Paid to Borrower. !n the eveni of a partial taking of the Property ia which t�e faur • � ;• •
<br /> '� ` "°l market value of the Pmperty immediatety before�he talong is equal ta or greater chan the amoant of the sums secured by ttus -
<br /> � -_- ` `�-- geattity instrument immediateIy before the taking.un3ess Borrower and Leader othenvise agree in wrivng.the sums secured hy G. <�.=__�
<br /> . ..4 • ..� < tt�is Seauiry Insuumcnt shall be ieduced by the amount of the pmceeds multiplied by the following �rion: (a) the total . � .
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<br /> . -...�_ amount of the snms secured immediasely before the taking,divided by(b)the fafr market valus of the Property ImmediateIY •;:..y,. ,.� ,
<br /> _-•--`� '•., �,° balance shall be aid to Borrower. In the event of a part�al[aking of the Property in which[he fair .. . ;.
<br /> befote the ta&ing.A�► P befoie:h� °. •'`4. . <�.
<br /> ' . - market value of the Praperty immediatelY before the taia�g is less thau the amount of the swnc secured immediately • • ..
<br /> • . . , •• talong,tmless Borrower�d L.ender otherwise agr+ee In writiag or nnless applicable law othecwise provides.the procceds shall �.. : a,_
<br />. - � be applted to the snms secured by this Secaait}►Iasunment a'hethet or not the sums tue then due. `r ;
<br /> ' �< • If the Properry is abandoned by Borrower,or if.after aorice by Lender to Bosrower that the condemaor offers to make an 4: .
<br /> . • . � award or seule a claim for damages, Borrower fails to respond to l.ender within 30 days after the date the aotice is S►ven. �. ;c; --
<br /> • � - Latder is atuhorjze�to ooAect aad apply the pmceeds.at its option,either to reswtation ar repair of the Pragerty or to the sums - ------
<br /> `" ' SeCUred by this SeCUrity inetmrrk.nt_whetheT os not then due. " `
<br /> ' Unless Lender and Borrower othezwise agree in writmg, anY aPPlication of pmceeds to principal sl�aall not extend or
<br /> • � . postpone the due date of the mflnthly payments cefeired to ia paragca�shs 1 aad 2 or chauge tl�e amonnt of such payments- ,
<br /> ' ' 11.Borrowes Not Released;Foifies+rauce BY Lender Not a Waiver.Exteusion of the time for payment ar modific�tion • `.____
<br /> , ��; , of amortization of the sams secured by this S�uritY Insu�nt granted bY l.ender w any successor ia interest of Borrower shall L•. :':'� �_
<br /> _ ;,;:s�,s. not operate to release the liability of the original Borrower or Borrnwer's snccessors ia iaterest.Lender shall not be requined to . 1- _.
<br /> ' commence p�c�d�n p,s against any s�ucessor in interest or refas�to extend time for paymeat ar othecwise mndify amorti�tIon . ._; ;.�__�
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<br /> " of the svms secured by this Security Insaumeat by reason of any demaad made by the original Bormwer or Bormwe r's , ,. ;,-j�,
<br /> . • • -: successo:s in interest. Any forbearance by l.ender ia exercising anY ri8ht or remedy sha11 not be a waiver of or preclude the -.,��.
<br /> � . ..Y��: exercise of any right or remedy. .:r. .�=a
<br /> ' 12. Saccessors and Assigns Bo�md; Ja3nt aad Sevesal L186Nty. Co signers.The covenants aud agreemeats of this � ,.:
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<br /> � � � Sewrity Insuument shall biad and beneSt the successors and agsigas of Lender and Bormwer, subject to the pmvisions of , , _--
<br /> . . para�gb ly. Borrawer's covenants and agreements shall be joint aad several. Aay Bonower who co-si���� ,�
<br /> ' Instmment but does s�t execute the Note:(a)is co-sfgning tl�is Securlty Iastrument only to mortgage,grant
<br /> . :�.,'` Boirower's interesc m�e Property under the terms of this Security Insuument;(b)ia aoe pe�sonally obligated to Fay the sums �--
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<br /> seaued by this Security Instrau►ent;and(c)agree.s that Leader�nd any other Boaower may agree to extend,modify,forbear or ..• �.;_
<br /> '. � '.,�':�: _ make ag9 accommndations with regasd to the terms of this Secauiry Insm�ment or the Note wahouc that Borrower's consent. ^. :�—
<br /> :; ��; 13.�oaa Ct�rges.If the lozn seaued by tbis Security Insaument is subject to a law wluch sets maxiraum loaa charges. �_
<br /> ,'. ,'' ,� `` and that law is fiaaUy inteipreted so that the interest or other loan charges collecxed or to 6e collected in connectioa arith the �-
<br /> loan exceed the permitted limits,then: (a)aay such loan charge shall be reauced by the amount necessary to reduce t h e c h a Tge ' �,.�;:-
<br /> � to the permitted limit;and(b)anY sums alread3+collected from Borrower which exceeded permitted limits arill be refwtded to •"^�..._-_
<br /> . - Borrowes. L.ender may choose to make this refuad by redu�.°� the principal owed nnder the Note or by makiag a d'uect .'�;r�`'
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<br /> '. ' Payment to Bo:rower. If a refund reduces principal, the redupion will be ueated as a panial Prepayment without azry . . �.-R.q_
<br />_ . • � .. prepayment chasge uader the Note. . '"!�`"�
<br /> • � 14.Notices.Any aotice to Boaower pmvized for in this Securiry Instcument shall be given by delivering it or by mailing
<br /> ; � . . it by fi:st class mail�tess applipble law requires use of anather method.T6e notice sha11 be directed to the Property Address ,�� �� �-�-
<br /> - ` or any other address Bosrower designates by nottce to Lender. Any nodce to Lender shall be given by first class mail to � :� ;�-
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<br /> �. . ..`.' • ' Lender's address stated herein or�..y other address Lender designates by notice ta Bvrmwer. .�►ay notice provideA!or ia this +_-
<br /> � � � �� � gecurity Instrument shall be deemed to have been given to Bosrower or Lender when givea as provtded ia this patagraph. . ..'.
<br /> � 15.Governing Law; 8everabllitq. This Security Instmment shall be govemed by federal la�+ and the law of ttte : . ���
<br /> • • jurisdiction in which the Property is located. 1n the event that any provision or clause of this Security Lrstn�ment or the Note ,
<br /> � conflic�witi�applicable law,such cunflict shaU noi affect ett�r provisions of this Securiry inswment or the Note whieh can be .
<br /> � givea e�'�t without the conflicting provision.To this end c;�e nrovisions of this Security Instrument and the Note aze declared
<br /> . .�� to be severable. • � .
<br /> � • � i6.Borrower's C.opy.Borrower shall be givea oae conformed copy of the Note and of this Securis��inswmesn• .
<br /> - � Form 3�x8 9/90 . ' '
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