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<br /> . • . ` . paymeuts a�ay no tonger be cequired�at the optian of Leuder,if moitgage insurance coverage m the amounc and for the period
<br /> ' that I.euder requires)provided by an msiuer approved by Lendcr again 6ecomes availabie and is obtained.Borrower shall pay[he � �
<br /> � premiums required to maintain mortgage insurance �effect,or to provide a Ioss reservc.until the requirement for mortgage • ". `• �".
<br /> . insurance e+nds�accordance with aay wriuen agreement beiween Borrower and Lender or applicable law. ' .
<br /> � = 9.Iaspectiva Leader or irs agent may make reasonabte entries upon and inspections of the Propecty.I.ender shall give � ,
<br /> � ,t < �• i Borrowc,r notice at the time of or prior to an inspetrioa specifying reamnable cause far the inspecaon. .
<br /> � , _ � � 10.Condemnation. The proceeds of any award or clairm f�damages,diiect or conseclaential, in connecaon with any � -- --�-' -
<br /> - -. -.=� � oondcmnaiion or other taking of any part of the Property,ar for conveyance in 6w of condemnation,are hereby assigned and -� •'--- —
<br /> "3 shaD be paid tfl l.ende[ r •. . .. . .
<br /> < ,� � In ihe event of a wtal taking of the Property,the proceeds sdall be apptied m the sams secured by this Security Inswment, . � :
<br /> ' whether or not then due,with any excess paid w Borrower.Tn the eveat of a pardat taking of the Property in which the fair market
<br /> . . value of the Property immediately before the tatring is equal to or greater than the amount of the sums secure[i by this Sec,urity 1�-``.��`� •
<br /> _ � : Insuameut unmediateJy before the taking, unless Borrower and Leader otherwise agree u� writiug,the sums secund by this � .`t•.:-•.:
<br /> ' Security Instrumeot sLall be reduced by the arnount of the praceeds multiplied by the foJlowmg fracnion:(a)the wtal amount of • ° �- �'`�'•�
<br /> .: the sums secured immediately hefore the taldng,divided bY N)the fair market value of the Property immediat$Jy 6efore the ` �` �°:
<br /> , , ;{ taking.My balance shall be paid w Borrowez.In the event of a paitial taking of the Property in which t6e fair market value af We ---_
<br /> . . ; Property immediately before the talang is less d�an the amount of ihe sums ser�ued im�►ed•:ateIy befole the taking, unless . .� ,"```
<br /> �j Bormwer and Lender otherwise agree in wriw►g or Emtess applicabls Iaw oiherwise pro�rides,the psoceeds shall be appiied tn the . °��
<br />-. � svms sec�ued by this Security Inswmeat whether oT not the susas are t6en dae. --
<br /> . H the Ptoperty is abandoned by Borrower,or if,after notice by Leudea W Boirower that the condemnor offeas to make an � _---
<br /> - award ar seule a claim for damages,Borrower fa7s m respand to L.ender arithin 30 days afrer�he date the notice is given,Lender ' � _— __
<br />- . . ... is���,n�+*��p�+to collecx aud appty the proceeds,at irs opdon,either tn restoration or�epair of We Froperty or w the sums secured : -_ --
<br /> . . by this Security Instrument,whether or not thea due. ��--- '
<br /> Ualess Lender and Borrower otharvvise agcee u►writing,any application of proce�cts w principal shall not exteud or postpone � �� =
<br /> ' � ' _ the due date of the monthly payments referred to in patagiaphs 1 and 2 or change the amount of such payments. -
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<br /> `.5 • • 11.Borrower Not Reieased;F'or6earance By Lender Noi a Vl+aiver. Ext�nsion of the dme for payment or m�catunn � s.�,�.
<br /> _ : of smortization of the sums secured by this Security L�,stn�ment grauted by Lender to any successor in interest of Borrowea shaU - � � �' �'�:
<br /> ��`� • � � not ape�ate tn release the liabiliCj of the original Borrowea or Borrower's successors in intcaest.I.e.ndea shall noi be reqvaed to `:�":i:e—=
<br /> , " � , commence proceedings again.st any successor in interest or refuse to extend time for payment or olhesarise modify amo�atinn of � - - �
<br /> the sums se.aued by thic Security Inswment by reason of any demand made by the original Borrower or Bomnwea's successots . ��
<br /> ' . '. in inYerest.My forbearance by Lender in e�cercising any right or remedy shall not be a waiver of or preclade the exercise of any �•`�.«�,�
<br /> • right or remedy. -,_;..�`;;�;
<br /> . 12.Successors aad As53gns Bo�;Jomt and Several Liab�ty;Co-signers, '!he covenanu and agrcements of this � � : k,�.
<br /> � . � Securi Instrument shall hind and benefit the successors and assi ' '�°�_''`
<br /> �Y gns of I.ender and Borrowea,su6ject.w the pmvisions of .•-t.�
<br /> � P�B�Ph 17. Boriower's covenantc and agreements shall 6e joint and several. My Borrower who co-signs this Seeauity . �;}',.�„
<br /> ' instrument but does not eaecute the Note: (a) is co-sigaiag this Securiry Inswmeat only w mortgage,grant and cunvey thai - '"�
<br /> ' Borrowcr's interest in the Property under the tcrrns of this Security Instrument;(b)is not pe,rsonally obligated to pay the sums . ,•,�. ��'.�3=`
<br /> � secured by this Security Inswment;and(c)agrecs that Lender and any other Borrower may agree to extend�odify,forbear or �`�A-
<br /> make any accommodations arith regard w the tenns of this Security Instrument or the Nate without that Borrower's consent �`�;:'�'�,;�:�
<br /> 13.Loan Charges. If the toan secured by this Security Instrument is subject w a law which sets maximum loan charges, � '� __
<br /> .�`�. • . and that law is finally interpreted so that the inuxest or other loan charges collected or w be coQected in connection with the toan ' � �c�
<br /> cxceed the peamiued 1'units,then:(a)mry such loan charge shall be reduced by the amount neces�y to reduce the charge w the � ?-���.�
<br /> , permitted limit;and(b)any sums already collectcd from Borrower ahich excecded permiucd limits will be rcfimded to Bortower. ''`��:
<br /> . ! Lender may choose to make this refun�l by reducing the principal owed under 1he Note or by making a d'uect payment w • ` •�'
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<br /> � Borrower. If a refund reduces prmcipal,ihe reduction will be treated as a partia! prepayment without anY prepaymcnt charge � � '"�
<br /> �., � j undcr the Note. . � � ..
<br /> 14.Notices. My notice to Bonower provided far in this Secwity Instrument shall be given by delivering it or by mailing it ' ,
<br /> �i , . by fust class mail nntcss appJicable law rcquires use of another method.Thc natice shall be dircctcd to thc Property Address or • . . � ��
<br /> .''!. any other address Borrower designatcs by notice to Lender.My notice to Lcndcr shall bc given by fust ctass mail w Lender's F� • � �
<br /> ' address stated haein or any other address Lender designates by nodce to Borrower. Any notice provided for in this Sectuity ' �� • � .
<br /> Insvument shall be decmed to have bcen given to Borrower or Lcrtdcr when given as provided in this paragraph. . � �� .
<br /> I5.Gaveming Law;Severability. This Sccurity Instrument shall bc govemcd by fcdcral law and thc law of thc • • �
<br /> � jurisdiction in which the Property is lacated. In the event that any provision or clause of Ihis Sec�rity Instrument or the NoLe � �.�
<br /> . . conflicts with applicable taw.such conilict shall no1 affect other provisions of U�is Security lnstrument or the Note which can be • � �
<br /> . given eifect without the conflicting provision.To this end the ptovisions of this Security Instrument and the Note are declared to •
<br /> be severable.
<br /> .. ; , �•8R(NE)�sz+z�.o� Form 9028 9/90 �
<br /> Paqe 4 018 in�uaia:
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