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<br /> .. ' j paymcnts may no Icmgcn c�rcquircd,ut thc option uf L�:ndcr. if mortgag�in,uran�r ruverag� lin thc uiiwunt aitd fur tlrc periud
<br /> •� thzu Lcndcr rcyuircti) providcd hy un insurcr appruved by Lender ugain herumes avuilable,inJ iti ubtuincd. Borrower shall pay
<br /> � the prcmiums reyuircd tu maintain mortgage insurancc in effect,ur u�provide a lo,s reserva umil thc rcyuirement for mortgage
<br /> � insurance endti in accordanre with�ury written ugreement between Barre�wer und L.ender ur applir.ible law.
<br /> - r � 9. Io�s�tl�►n. L.enJer ur it, ubent muy in.ikc r�u,unablc entrie, upun uud in,pcctiuns u(tiie Prup�rty. LrnJ���,hull give
<br /> Borrower notice at the time c�F eu prior to un inspection+pecifying reasonable cause far the inspectinn.
<br /> :��: ; 10. Condemnat(an. Thc proceuis of any award or claim far damages, direct ur ronsequcntial. in c�mnection with any
<br /> � condemnation or other tuking of any pan uf thc Property, or for conveyance in lieu of condemnution, are hereby assigned and
<br /> shall bc paid to lwtnder. '
<br /> In thc cvent of a total taking i�f the Propcny,the proceeds shall be applicci[o the sums sccurcd by this Security Instrumcnt,
<br /> ' whether ur not then due, with uny excess paid to Borrawer. In the event uf u p:trtiul tuking uf the Property in wl�icli dte fair
<br /> � market value of the Property imnudiately before the taking is cyual to or greater than thc amaunt of the sums secured by this ==
<br /> • Security Instrument immediately before the taking, unless Borrower and i.ender otherwise agree in writing, the sums secured by �r�
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<br /> t. this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total d-.�=
<br /> -' amount of [he sums secured immcdiately before the taking, divided by(b) the fuir market value of ehe Property immediutely �°',
<br /> . � . before the taking. Any balance shall be pnid to Borrower. In the event of a partial taking of the Property in which the fair
<br /> market valuc of the Property immediately before tlie taking is less than the amount of the sums secured immediately before the
<br /> }�� taking, unles5 Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides,the proceeds shall =`
<br /> �• be upplied to the sums secured by this Securiry Instrument whether or not the sums are then due. �'
<br /> If the Propeny is abandoned by Borrowcr, or if,after notice by Lendcr to Horrower that the condemnor offers to make an �,
<br /> .. � award or settle a claim for damases, Borrower fails to respond to L.ender within 30 days after the daie the notice is given,
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<br /> L.ender is authoriied to collect and apply the proceeds,xt its option,either to restoration or repair of the Property or to the sums
<br /> secured by this Security Instrument, whetheror not then due.
<br /> � Untess Lender und Bono�ver otherwise agree in writing, any application of proceeds to principal shall not extend or —
<br /> postpone the due date of the manthly payments referred to in paragraphs I and 2 or change the amount of such payments. ---
<br /> I1.Horrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification
<br /> of amortization of the sums secured by this Security Instrument granted by Lender to any successor in i nterest of Borrower shall _
<br /> " not operate to release the liability of the original Borrower or Borrower's successors in interest.Lender shall not be required to —
<br /> commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amonization
<br /> ; of the surns secured by this Security Instrument by reasan of t►ny demand made by the original Borcower or Borrower's
<br />- � successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the
<br /> _ , •, exercise of any right or remedy.
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<br /> � 12. Successors and Assigns Bound;Joint nnd Several Ltabillty; Co-signers. The covenants and agreements of this
<br />_;;;��w;j;�'., ` Security Instrument shall bind and bcncfit the successors and assigns of L.ender and Borrower, subject to the provlsions of
<br />='�y�Y�=Y-- paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower wha co-signs this Security
<br /> '-�r�,��`' Instrument but does nat execute the Note: (a) is co-signing this Security Instrument only to mongag�,grant and convey that
<br /> _ -�-� " Borrower's intcrest in r.he Pmperty under the terms of this Security Instcument; (b) is not personally obligated to pay the sums
<br /> _`°�'""` secured by this Security instrument:and(c)agrees that Lender and tury other Borrower may a�ree to extend,modify, fotbear or
<br />-�`�t�j=•...: make any accommociations with regard to the terms of this Security Instrument or the Note without that Borrower's consent.
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<br /> --u=��� 13.Loan Churges. If the loan secured by this Securiry Instrument is subject to a Iaw which sets maximum loan charges,
<br /> ='`��'-�� and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the
<br /> M�'�";'"-��� loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount nezessary to reduce the charge
<br /> —� - =_—= to the permitted limit; a+id(b) any sums already collected from Borrower which exceeded permitted limits will be refundr,d to
<br />--�=�-= Borrower. l.ender may choose to make this refund by reducin� the principal owed under the Note or by making a direct
<br /> '--='!'^,"^�� a ment to Barrower. If a refund reduc�s nnci �I the reclucti�i� will he treated as a
<br /> --,- _�_� P Y f� � P' � partial �repayment without any __-
<br />=�:��a� prepayment charge under the Note.
<br />.v--===��•�:ti• 14.Notices.Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing
<br /> ___ �` it by first cla5s mail unless applicable law requires use of another method. The notice shall be directed m the Property Address
<br /> ��!�*���� or nny other address Bon•ower designares by notice to Lender. Any notice to Lender shall be given by first class mail to
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<br /> ,Y;,.�,.,..�,:� Lender's address stated herein or any other address I.ender d�signates by notice to Borro�ver.Any notice provided for in this
<br /> " '�-'� Sccurity instrument shall be dccmed to have been given to Botrower or Lender when given as �provided in this paragraph.
<br /> =�"��'��' 15.Governing Law; Sevcrabillty. This Security Instrument shall be govcrncd by federal la,v and the 11w of the
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<br /> - jurisdictioi�in which the Property is located. In the event that any provision ar clause of this Security Instrumcnt or thc Note
<br /> � ' conflicts with applicable law, such conflict shall not uffect other provisions of this Security Instrument or the Note which can be
<br /> - given effect without the conflicting provision. To this end the provisions of this 5ecurity Instrument and the Note are declared =
<br /> to be severable. —
<br />- . ,- 16.Barrower's Copy.Bonowcr shall bc given one ronformed copy of the Note.�nd of this Securiry Instrument. �•N.
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