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<br /> -c .� — � paymeats may no longer be required,at the option of I.ender,if mongage insurancs coverage(in the amount and for the period = - `��
<br /> `�° " : that Lender requires)pmvided by an insurer approved by Lender again becomes available and is obtained. Borr�wer shall PaY� , . �
<br /> . �e p��ns required co maintaia mongage insuiance in effect,or to pmvide a loss reserve,unril the req�inment for mortgage� _�
<br /> _ - — insuraace ends en acwrdance with any writteu agreement between Borrower and ixnder or applicable law. : '` -
<br /> 4 • 9. I�pedion.Leader or iu agent may make reasonable entries upon and iaspeaions of the Property.Lender shall giv�y.:: ��
<br /> i:� . Borrower notice at the time of or prior to an iaspaxion specifying reasonable cause for the inspection. � " � . � ..
<br /> � � 1Q. Condemnatton.The prooeeds of any award or claim for damages.direct or consequential, in conne�xion witb any� �' F._.....:� ...+ ��
<br /> _ . , _ condemnauon or other taking of a�+part of the Property,or for conveyance in lieu of condemnatioa,are hereby assigned� _ - - - --
<br /> shall be paid to Lender. ``.. ..<'
<br /> ='` � . In the event of a total taking of the Property,the pmceeds shall be applied to the sums secured by this Security Insuuunent.�
<br />''r� ' . . 4 whether or not then due, with any excess paid to Borrower. ia thc event of a paitial taking of the Pmperty in wluch the fair :``- .. �-�� :.
<br /> �` . '� ,:�<�.,�; market value of the Property immediately befoie the taking is equal to ar greater th�the amount of the sums serured by this
<br /> .,�_ ,:
<br /> �•=
<br /> ,'=. ' = Security Insuument immediately before the taking,unless Bomower and Lender otheiwise agc�e in�vriting,the sums secured by < � _
<br /> �. . � tDis Se�uriry Iust�eni shall be reduced by the amount of�ice pmceeds mtiltiplied by the following fraction: (a)the total
<br /> ,:�- • � � # amouat of the sums secured immediately before the taldng,divided by(b)the fair market value of the Pcoperty immediately ' -
<br /> _t;.. .
<br /> , . before the taking. Any balance shall be paid to Bor�ower. In the event of a partial taking of the Property in wluch the fair .-.y�.� " , -_—
<br /> ~' , ��;,� market value of the Property immediately before the taking is less than the amount of the sums seciued immediately before�he f __
<br /> �:: . .,. � ,r taldng, anless Bnaawer aad Lender othe�rise agcee in writing or unless applicable law otherwise pmvides,the prnceeds shall ��—
<br />�#a�j, . •• � ;�. be applied to the snms secured by this Security Insaument whether or not the sums are then due. =� =
<br /> .�• If the Property is abandoned by Borroaer,or if,after notice by Lender to Borrower that the condemnor offeis to make an ��"_
<br /> . • `� award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, , .��
<br /> '��y � • Lender is authorized to collect and apply the proceeds,at iu option,either to zeswration or npair of the Property or w the sums � ��a=��-=
<br /> , '... � . .. _ secuted by this Security Instrument,whether or not thea due. , �'"
<br /> Unless Lender and Boaower otheiwise agree in writing, anY apPlication of pmceeds to principal shall not extead or ' s�,�E�,;
<br /> �'���s . postpone the due date of the monthly payments referred to in paragraphs 1 and Z or change the amount of such paymenu. '•�°
<br />:.•:, .,��.��v�...�..
<br />.�v 11.Borrower Not Reteased;Forbearaace By Lender Not a Waiser.Extension of the time for paymeat or modiRcation . !,,.i�_'
<br /> ' . of amorti�aiion of the sums secured by this Securiry lnstrumenc granted by Lender to any successor in interesc of Borrower shall ..'. �"' --
<br />',' ; � .� .. uot operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not bc ra�uired to . .;��.��,;;�;.
<br /> commence pmceedings against any successor in interest or refuse to emend time for payment or otherwise modify aznorti7ation .. '•���
<br /> � of ihe sums secvred by this Se�urity Instrument by reason of any demand made by the original Borrower os Borrower's • ' �� ..i��,.
<br /> .� _ .� �K----
<br /> . successors in intecest. Any forbearancc by Lendes in eaercising any right or remedy sha11 not be a waiver of or preclude the •- --�
<br /> � exercise of azry right or remedy. ', f'"�`'
<br /> •. • . `:�a;r-=-
<br /> � 12. Saccesso�s and Assigag Bound;Joint aud Several Llability; Co-signers. The covenants and agreements of this �.:;:
<br /> :.� , . Security Insuument shall bind and benefit the successors and assigac of L.ender and Borrower, subject to the provisions of � , �'�'�
<br /> , ;...,��
<br /> � ` . • paragraph 17. Bormwer's covenanis and agreements shall be joint and several. Any $ormwer who co-signs this Security . ,; ��._
<br />� • Instnunent but does not execute the Note:(a)is co-signing this Securiry Instn�ment only to mortgage, graut and convey that � . s
<br /> `'� . � Borrower's iaterest in the Properry under the terms of tbis 5ecurity Insuument:(b)is not personally obligateQ zo pay the sums ��•��+: :•'.�.wi`_
<br /> {1��' . . secured by this Securiry Instrument:and(c)agrees that l.ender and any other Borrower may agree to exten d.ma di f y.fo r bear or { • � �_
<br /> i � make airy accommodations with regard to the term4 of this Security Instnunent or the Note without that Borrower's consent. , __
<br /> •• • , 13.Loan Charges. If the loan secured by this Securiry Insuument is subject to a law which sets maximum loan charges, �
<br /> �• � � and that law is fu�ally interpreted so that the interest or other toaz►charges collected or to be collected in connection with the �
<br /> loan exceed the permitted limits,then:(a)any such loan charge shall be reduced by the amount necessary to reduce the charge .. ,
<br /> . ' . to[he permitted limit:and(b)any sums already colle�ted from Borrower which exceeded permitted limits will be refnnded to • . ; : -
<br /> � . . Borrower. l.ender may choose to make this refund by reducing the principal owed under tlie Note or by making a d'uect , ,
<br /> ' � payment to Borrower. lf a refund reduces principal. the reduction will be treated as a panial prepayment without any
<br /> .. � . prepayment chazge under the Note. � "
<br /> � 14.Notices.My notice to Borrower provided for in this 5ecuriry instrument shall be given by delivering it or by mailing ;, _
<br /> ' it by first class mail unless applicable 1aw reyuires use of another method.The notice shall be directed to the Property Address '
<br /> :`� � or any other address Bonower designates by notice [o Lender. Any noticc to Lender shall be given by first ciass mail to .
<br /> Lender's address stated herein or any other address l.ender designates by notice to Borrower. Any notice provided for in this . . .•
<br /> ,•.,.-. Seturity Instrument shall be deemed to have been given to Borrower or Lender when given as provided in thls paragraph.
<br /> ' 1S.Governing Law; Seve�abiltty. 'fhis Security Instrument shall be govemed by federal taw and the 1aw of the .
<br /> . � jurisdiction in w6ich the Property is located. In the event that any provision or clause of this Security Instrument or the Note � •
<br /> + wnflicts with applicable law.such conflict shall not affect other ptovisions of this Security lnstrument or the Note which can be � �
<br /> � given effect without the conflicting provision.To this end the provisions of this Security Instrument and the Note are declared
<br /> � � to be severable. � •
<br /> � 16.Borro�ver's Copy.Borrower sha11 be given one conformed copy of the Note and of this Security instrument.
<br /> � � � Form 3028 9/80 �
<br /> � �o SRfNEI rez�2�o+ Pago 4 0}6 : .
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