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<br /> `.. • paymcnfs may no tonger be requ�ed.at the aption of I.endei,if moitgage insvrance caverage(m the amount and for the period - . . � ,'.4�'
<br /> ' • thai Lender zequires)Pmvide�bY an in�r�aPProved by Lender again beoomes ava�7able and is obtained Boirower shaU pay the `
<br /> . � � P��luired ro maintain martgage insurance in effect.or ta provide a loss rese:ve.unn7 the reqairemeat for mortgage ° . .
<br /> '.. . ' iasurance eads in accordance with any written agoemeat bemreea Borrowea and I eader or applirable 1aw. . . . •
<br /> 9.Inspedioa I.euder or its agmt may make m�►sonabte eauies upon aad iaspection4 of the Property.Ix.nd� shall give � � ,'
<br /> . '.�. . Bonaara nadce at the time of or prior w an inspecpnn sP�Y�B reasonable c�use for the inspection '.
<br /> . ``r�=T lU.Condemnation. 'Ilte proceeds of any award or claim for damages,direct or consequeutial.ia connection wids any - - • , � �..
<br /> candemnafion or other takiag of any part of the Propedty.or for conveyance in lieu of condemnarion,are he�eby assigned and _ :__ ._-�` -. _ •
<br /> — - s6aii be paid W Leader. `� -- .
<br /> ` Ia the event of a tmal ta�ng of the Piopary,the pmceeds shall be applied ro the sums secured iry this Seauity Instrumeat, �. . .
<br /> . wteether or aot tha►due.witb aay excess paid tn Boimwer.In the event of a p�oal tatong of the Property in wluch the fair market � ••� r��
<br /> • � walue of the Prapeny immediately befaie the IaIdng is eqoal w or greaser d�an the aznouat of tLe sums s�by this Sec�rity .. ,` ; - ':, :
<br /> � Inshvment immediaiety before the talring,aatess Bo:rower and Lendea otherwise agtee in writing,the sums secured by dris = .. ° . .
<br /> � Secnrity Insuamem shali be r�ced by the amount of We pmceeds m�Itiptied 6y the following fraciion:(a)the total ammmt of , . . • ;
<br /> the surns secured immediately befoie tke taking,divided by N)the fair market valne of the Property immeiliarely betore the `:��;,;.,- .:
<br /> . taking.Any balaace shall be paid w Hocrower.In the event of a partial takin8 of the Pcoperry in wLic6 the fair marlcet valne of the -•. .,�_,..:;:..�':
<br /> � Prog�ty immediately before the taking is less than the amount of the sams sec�ued immediately before the talaing,unless l --___
<br />.. Bormwer and L.ead�otherwise agree in wriung or aatess applicable law otheawise pravides,the pmceecls shall 6e applied ro the . �. ,,:_t; . ��
<br /> . � snms seaued by this Sec�uity Instrnm�►t vrhedie,r or not ttte sums aie then due. :r-^� ;�,�:
<br /> • If the Propeaty is abandoned by Borrawer.or i�aftcr notice by Leatder to Bosmwer thai the cond�nor offas o�make an . � --
<br /> awar�or sade a c1aIIn for damages,Boirower fails ta�pond to Lender wlthui 30 days aftea ihs date the notice is given,Lender �
<br /> �� � �`:� is authorized to coltect and appty the pcaceeds,at its option,eitha w restnration or repair of the Pmpeaty or to the sums secured .:�=_.
<br /> �.,. �. _ _
<br /> � � . ' ��:.� by tbis Secarity Insuumenb whether or not thea due. _ ,. � ���
<br /> Unless I.�der and Bomnw�otherwise agree in writi�►8,�Y$FPlica6on of proceeds tn prinapal shall not extend o:postpone �`=_
<br /> • .� . � the due dafe of the monthlY payments referretf to in pasagraphs 1 aad 2 or cirwge ihe amount of sucb payments. ::\� :-. ,:
<br /> • , . Il.Borirower Not Re[eased;Fos6easance Bp Lender Not a waives. Extensinn of the time for pay8tent or madi8c�tion ' ' '�.� '.'°� �y
<br /> ' � � . of amortizarioa of the sams sec�aed by this Sectuity Instrument granted 6y Lendea tn any saccessor in intarest of Boriuwer shaU :. � -
<br /> - not operate to release the liab�7ity of the original Borrower or Bomower's successois in interest.I.�dca s1�a11 not be required to - ,_, '�
<br /> � . • commence pmceedings against any successor m interest or refuse w extead riaee for payment oz athedwise madify araortvation of .
<br /> wis
<br /> � � . ,.< the snms secaued by this SecQrity Inswment by reasou of any demand made by the origmal B�rowea or Barmwa's succe.ssois � • �' �
<br /> be waiv�of or the exacise of an , ...y�i:, ai,'
<br /> in intearst.Any forbearance by Lender�acercism.g any rig6t or ramedy shall not a preclede Y . . _
<br /> ' � ' i1g11t Of ICIriP.dy. �:,� . .4:`%�wa:
<br /> : +r�-a.,..e
<br /> ' �� 12.Saccessors aad Assigns Bound;doint and Sevesal Liability;Co-signers.Tiie coveaants and agreements of this .!•'��`�=`�
<br /> , . Secnrity Instrument shall bind and i�eaefit the successors and assigns of Le�nder awd Borrowea,subject w the provisions of �, " , -, • ��`�;�
<br /> � ' � parag�aph I7. Borrower's cove�ants and agreemeatc stiall be jomt and seveaal. Any Boirower who co-signs ihis Secatrity , `,.,���,
<br /> � • � ' ' Insovment bnt daes not execa►te the Note:(a) is co-sigaing tl�iis Security Insuu.ment only tn mortgage,grant aad convey that ;���..��
<br /> . . . ' Bomower's inteaest in the Pmperty under the terms of this Security Instrumenx(b)is not personalty obligaicd m pay the sums •.. '����'
<br /> secared by this Sec�uity Insaurnen�aad(c}agrees that La►des and any other Borrower may agree to extend,modify.forbear or ,-r.`�'�v'=;�.
<br /> • � � matce any accommodations arith regard tn the terms of this Secudty Instmment or the Note without that Borrower's conseat . ....�'`'�";'���
<br /> S..0
<br /> , • • 13.Loan C�arges. If the loan sec�ued by this Security Insnument is subject to a 1aw wlrich sets maaimum loan charges. �• •��?�:+�-.:
<br /> and that law is fmally mtapreted so that the interest or othe�toan charges coltected or ta 6c collected'u�oannecaon with the loan . , ; �•�:�
<br /> �� acceed the p�mitted limitg.then:(a)any such toan charge sdalt be reduced by ihe art►om�t neces,sazy w rednce the c6arge tn the , ' . ' ,w-�_.
<br /> m
<br /> permitted 1imi�and(b)any sams already coller,ted from Bolrowea widch eacceeded permiued limits arill be refunded to Borrowea. ',;.�..
<br /> � , • Lexcder may choose to matce tlus refmid by redncing the pra�cipal owed under the Na.�or by ma2cing a daect.payment�o � , .. __�
<br /> � ;,;� Borrower. If a refund reduces pr�cipal,the reduction will be treated as a partial prepay-��t witho�any prq�aym�t charge .
<br /> anda ihe Note.
<br /> � • .� 14.Nottca. Any notice w Borrower provided for in this Se�rity Is�suument shall be given by delivering it or by mailing it . :. •
<br /> by first class mail uNess applicabte law requires use of anoth�r method.71ie notice shall be directed to the Propeny Address or
<br /> � any other address Barrower desigaates by notice w Lender.Any notice to Lender shall be given by fust class mail to Lender's . ' . � ..
<br /> '; adsfress stated herein or any other address Lender designates by notise to Bormwer.My em�ce provided for in this Security � ..
<br /> � i Insmiment shall bc deemed to have been given w Borrowcr or l.ender when given as provided in tlus paragtaph. • � .
<br /> • � IS.Governtng Law;Severability. 'I7�is Security Inswment shall be goveaned by fedcral 1aw and the taw of the ''.. �
<br /> � jurisdiction in which the proyerty is located. In the event that any provision or clause of this Security Instrument or the Note � . :_ , '
<br /> , ' contlicts with applicable law.such conflict shall not affect other prnvisions of this Securiry InsUument or the Note w�zch can be • •
<br /> �. given effect without the conflicting pmvision.To this end the prorisIons of this Security Instrument and the Note are Qeclared to : � � �
<br /> . bc sevetable. ---- • •
<br /> �" . Form 804 9/90 � �
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