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<br /> paymcntti muy nn(ongcr bc n;quiral, ut the nption of C.cndcr, if mortgugc in�urunce cuvcrugc (in thc umuunt und f'or thc period
<br /> ' �.j that I.ender requires)provided by an insurer approvecl by L.ender uguin becomes �vuili�hle und is oMuined, Bonower shxll pi�y
<br /> the premiums re:yuired tu muimain murtgagc insurance in effect, or to prnvicie,i I��ss rc�erve,until 1he requirement tior ntortgt�ge
<br /> •' �;!�h insurnncc ends in accordancc with any written agreement between Borrower und Lcndcr or upplicublc luw, _
<br /> � 9. lnspection. Lendcr or its agent may makc reusonablc cntrics upon nnd inspections c�f thc Properry. Lender shuU give
<br /> ` �� 8arrowcr noticc at thc timc of or prior tu an insp�ction specifying rcasonahlc cau�c for thc inspection.
<br /> (0. Condemnution. The procexds of any a�vard or claim for dsmages,dirat or consequentiul, in connection with any
<br /> . condemnation or other taking of any part of the Property, or for conveyunce in licu of'candemnation, are hereby assigned and
<br /> i; shall hc puiJ to I.�:nder.
<br /> ,.. ` � in the event of a total taL•in�of the Property,ihe proceeds shnll be uppl icd to the sums secured by this Sccurity Instrumcnt, •x
<br /> whether or not thcn due, with uny excess paid r�Borrower. In thc evcnt of a partial taking of the Property in which the fair -
<br /> markct valuc of the Property immediately before the takin�; is equul to or�;reatcr�han the amount of thc sums secured by this �
<br /> Security[nstrument immediately before the takin�,ur�less Borrower and Lendcr otherwise Agree in writing, the sums secured by
<br /> this Security Instrument shall be reduced by the amount of the proeeecls muleiplied by the following fraction: (a) the total __�
<br /> amount of the sums sccured imrncdiately before the tuking, divided by (b) the fuir markct value of the Property immediately
<br /> before the taking. Any balance shall he paid to Horrower. In tha event of a panial [aking of Q�e Propeny in which the fair =_-
<br /> market value of the Property immediately before the taking is less than the amount of the sums secured immediately befare the
<br /> taking, unless Borrower and Lcnder otherwise a�ree in writing or unless apNlicable law otherwise provides, the proceeds shall
<br /> , be applied to the sums secured by this Security Instrument whether or not the sums are then due. -
<br /> , If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an
<br /> award or settle a claim for damages, Borrower fnils to respond to Lender ��•ithin 30 days after the date the notice is given, s=
<br /> Lender is authorized to collect and apply the proceeds,at its option, either to restoration or repair of the Property or to the sums �;-,�
<br /> >.• .ri. ^ -
<br /> secured by this Security Instntment,whether or not then due.
<br /> '. ;' Unless L.ender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or �•'
<br /> � � ,f postpone the due date of the monthly payments referced to in paragraphs 1 and 2 orchange the amount of such payments. _
<br /> � l l. Borrower Not Relet�sed;Forbearunce By I.ender Not a Waiver.Extension of the time for payment or rnodification _
<br /> - • of amortizution af the sums secured by this Security lnstrumenc granted'oy Lender w :��y �uccess.�r in i��i:.:sst af B�::o`•u=s sltall
<br /> , . �,� not operate to release the liability of the original Horrower or Borr�wer's successors in interest. L.ender shall not be required to
<br /> '...,^,,; . commence proceedings against any successor in imerest or refuse to extend time for payment or othenvise modi(y amortization
<br /> " `�'�" of the sums secured by tfiis Security Instrument by reason of any demand madc by the original Borrowcr or Horrower's
<br /> _. .v.,,•...:::
<br />"•-'�`'r������' successors in interest. Any forbearance by Lender in exercising any right or remcdy shall nat be a waiver of or preclude the
<br /> }. �.�4.`.
<br />',:U;.:,��;r�;�;,* exercise of any right or remedy.
<br /> --_ --:lr'�' 12. Suceessors and Assigns Bound;Jofnt and Several Llability; Casigners. The col�enants and agreements of this
<br /> �,:�-��.�
<br />':�:ti�r^� Security Iustrument shall bind and benefit the successors and assigns of I.ender and Borrower, subject to the provisions of _
<br /> � --_�•-�"� paragraph 17. Borrower's covenants and agreements shull be joint and several. Any Bonower who co-signs this Securiry
<br />.._... .n�4.4i:
<br />:�::?,t,�Y.;� Instrument but does not cxecute the Note: (a) is co-signing this Security Instrumcnt only to mortgage, g►ant and convey that
<br />_�'��.`�-:.;_;'-� Borrower's interest in the Propeny under the terms of this Security Instrument; (b) is not personally obligated to pay the sums
<br /> --..���ut� —
<br /> secured by this Security Instrumenr, and(c)agrees that Lender and any other Borrower may agree to extend, modify,for or
<br /> '�';'�z1'�� make any nccommodations with regard to the terms of this Security Instrument or the Noie without that Bortowcr's wnsent.
<br /> _,-;�:�,srir;� --
<br />- y��� 13. Loan Charges. If the Iean secured by this Securiry instrument is subject to a law which sets maximum loan c arges,
<br /> --- ar,d that law is finally interpreted so that the interest or other loan charges collected ur to be coll�:eced 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 churge
<br /> "=- - - to the permitt�d limit; and (b) any sums already mllected from Borrower which exce�d�:d permitted limits will be refunded to
<br /> �►•:� Horrower. LenJer may �huose to make this refund by reducing the principsl o�vecl urider the Note or by ma4cin� e direct --
<br /> _...-:_ - - payment to Aorrower. If a re.fund reduecs principal, the reduction will be treated as a partial prepuyment �vithottt Fu►y
<br /> -?"`� prepayment charge under the Note.
<br /> �,��:�,� • 14. Not(ces. Any notice to Borrower provided for in this Security[nstrument shall be�iven by delivering it or by mailing
<br /> �.":;�-:� it by first class muil unless applicable luw requires use of another met ho d. T he notice shall be directed to the Pro p erty Address
<br /> _-:=��'� or any other address Borrower designates by notice to Lender. Any notice ta i.c;nder shall be given by first clacs mail to
<br />___:-�:�!¢� Lcnder's address stated herein or uny other address Lcnder designates by notic:to Borcower. Any notice provided for in this
<br /> 'i�;��`'`'fiJ Securiry Instrument shall be decmed to havc been given ta Borrower or Lender when given as provided in this paragraph. --
<br /> - _ -�.'�:'r�
<br /> _=:;;:�r�.:�,-_ I5.Govcrning I,aw; Severablllty. This Security Instrument shall bc govemcd by federal law and the law of thc _
<br /> "--�:e:.:a;F��, jurisdiction in which the Propertp is locatal. In�he event that any prnvision or clause of this Security Instrument or the Note _
<br /> •'-' ° conflicts with applicable law,such conP'ct shal l not affect othcr provisions of this Security Instrument or the Note �vhich can be = _
<br />-=�;+'� - • given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared � _
<br /> �:-_
<br /> ;_ ;; ' to be scvcrablc.
<br /> ••� 16.Borrower's Copy.Borrower shall be given one conformed copy of the Note and of this Security[nstrument. �-.
<br /> Form 3026 8/90
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