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<br /> . payments may no longer be rcqui�i.at the optioa of I.ender.if mottgage insurance coverage(in the amount and for the period ` : ' '
<br /> . � that Lender requires)Provided fiy an insurer approved by I.ender again b�ames avaiiabte and is obtained.Borrower shall pay the , . ,
<br /> < � . - premiums required ta maintain mortgage iflsurance in eifect,or to provide a loss reserve,nntil the requirement for mortgagc .,. �•
<br /> . insurance ends in accordance with any written agreeaeent herneen Borrowed and Lender or applicable law. __ _
<br /> __ _ 9.Inspection. L.c�der or its ageat may makc masomattk enuies�pon and inspections of the Propecty.Lendef stiall Bive - -- __-_-,--�,
<br /> • • Bomnwer notice at the time of or prior to a�inspe�ion sPe�ifpin8 r�onable cause for the inspec�on. '� ,, �i ` � .-
<br /> � 10.Condemnatioa 'ltie proceeds of any award or claim for damages.direst or wnsequential. in connecaon with any . . r. ..,Y;� ..
<br /> condemnatioa or other taking of ar►y part of the PropertY,or for conveyanoe in lieu of oondemnation,are hereby assiBned and . .
<br /> shall be paid tn Lender. ,_ - `.
<br /> � In the eveat of a tntal takin8 of the PropertY,the proceeds shall 6e applied to the sums sec�by this Secauiti+Insuument, :-�`.
<br /> . . whedier or not thea due,wish any excess paid to Borcower.In the eveut of a parrtial talui►g af the Property in which the fair market ' ,:.
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<br /> valae of the Propecty immediately before the taki�►g is equai w or greater than the amount of the sums secured 6y this Seaaity . �,.;,.:,_,.
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<br /> in writing,the sums secored by this ��.° •
<br /> Insuument immediately Hefore the taldng,nntess Bonower and Lender otherwise agree . � ;�•;�<.. . ..
<br /> . . Securiqr Insuument shall be reduced by the amount of the pmcee�s mWtiplied by the foltowing fiaction:(a)the Wtal amauat of �:'r."...
<br /> the sums secured immediately before the taking,divided by(b)the fair ma:kei value of the Property immediately before the
<br /> . . , taking.Any balance shall be paid to Borrower.In the event of a pattial taIring of the P�vpert}+in which the fair market value of the .� ,� ..
<br /> ,„�.., •.
<br />. I . propeaty immediarely befare the taking is tess than the amo�mt of the sums secured immediately before the �lCing, uNess ., E� _:
<br /> Borrower and Leader othawise agree in writing or unless applicable law otherwise provides,the pmceeds shall be app}ied to the ' : ��t_:�;�
<br /> . ' sums secu�d by this Sepuity Insuumeat wheiher or not the sums are then due. • - - r_
<br /> If the PrapertY is abandoned by Bormwea,or if,afu7 nntice by Lender to Borrower tLat the wndemuor offers to maice an _ .:�'°-,���.,;
<br /> . "• award or se.ttte a claim for damages,Borrower faits tfl resPond w Le,ndes withfr►30 days after the date the aotice is givzn,l.ender 4
<br /> : is antharized m collect and apply the pmceeds,at its option,either to reswration or repair of the Property or to the sums secured - ..::. ��
<br /> by this Security InsaumenL whether or not then due. ''="`'��
<br /> Uniess I.ender and Borrowea otherwise agree in writ�g,any applicadon of pmceeds to princi�al s6all not extend nr p�stpone _. �"��-
<br /> the due date of the monthly payments cef�red tfl in ParaB�P�1 and 2 or change the amount of such payments. . . . ;'�
<br /> � � � 11.Boaower Not Reteased;Forbearance By I.eBder Not a Waiver. Extension of the time for payment or modific�tion t.,:: � ��,f�
<br /> • of amorti7arion of the sums secared by this Securiry Ins�ument g�anted by Lcxider w anY successor in interest of Borrower shall . ,:.. ,. -
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<br /> � . not ope�ate w retease the liab�iiy af the original Borroaer or Bozrowec's successors in inte�st.L�ndcx stiall not 6e required to . •:1..•..;r:",
<br /> '' � commeace proceedings against anY snccessor in int�t m refuse w extend time for payment or otherwise modify amo�ation of � �
<br /> � t6e sums secured by this Secuurity Ynstnsment by reason of any demand made by the original Borrower or Bomower's successors �f;. ..�
<br /> . � • � in int�st.My forbearance by I.ender in excrcising any right or remedy shall not be a waiver af or preclude the e�cercise af any • . �::�" -
<br /> . � ` ; right or remedy. . �.
<br /> . - 12.Successors aad Assigos Baund;Joint attd Severai Liabaity;Co-signers. 71ie wvenants and agreements of this , � ' ��•�_�.=�.
<br /> ' Security Inswment shall bind and benefit the successors and assigns of Lender and Borrower, subject co thc provisions of ��;,,.,�i<-�—�
<br /> . + ,` paragraph 1?. Borrower's cavenants and agreements shall be jouit and several. Any Bo�rrower who co-signs this Security . . �:���f=
<br /> ;; Instrument but does not e�cccute the Note: (a) is co-signing this Security Insuument only to mortgage,grant and convey that ; ��'
<br />.` Borrowcr's inuxest in the Pmperty under the terms of this Security Instrument;(b)is not personally obligated to pay the sums �w. .
<br /> " � s e c u red b y this Securi ty Inswmen�and(c)agrecs that Lender and any other Borrower may agree to extend,modify.forbear or :�_•
<br /> ., . • �k e a n y accommodations with regard to the te�ms of this Security Instnunent ar t he Note wi t hout t h a t Borrow e r's c o n s e n� • . ���,,-•�,
<br /> � � 13.Loan Charges. If the loan secured by this Security lnsuument is subject co a l aw w hic h sets maximwn l o a n c h a r g e s. ��`, ":�o.;_.
<br /> - � and that law is finaliy interpreted so that the interest or othe,r loan charges collected or w be wllected in cora►ecaon with ihe toan . -"-
<br /> eaceed the permiued limits,then:(a)any such loan charge shall be reduced by the amount necessary w ceduce the charge to the , ,��-�:�:`
<br /> ' . .� pe�i�ed liml�and(b)any sums alrcady coltected from Borrower which ezcceded peamiued limits arill be refunded to Bosrower. . ' .:}��-_.�
<br /> � Lender may choose tn make this refund by reducing the princiyal owed under the Note or by ma�cing a direet payment w
<br /> ' • Borrower. if a refund reduces principal,the reducdon wiU be treated as a partial prepayment without any prepayment charge !.
<br /> ;
<br /> � . under the Nate. . v;
<br /> ` 14.Notices. Any notice to Borrower provided for in ihis Sccuriry Instrument shall be given by dclivering it or by mailing it `` {� . ,
<br /> by fust class mail unless applicabie law requires use of another method The notice shall be directed W the Pcaperty Address or -
<br /> any other address Bortower designates by notice ta Lendcr.Any notice to Lender shall be given by first class mail to Lender's ,
<br /> . address stated herein or any other address Lcnder designates by notice to Borrower. My nodce provided fot in this Seciuity � . ..
<br /> �' � . instrument shall be decmcd to have been givcn w Borrower or Lendcr whcn given as provided in this paragraph• . � ':
<br /> 15.Governing Law;Severability. This Security Inswmcnt shall be govemcd by fcdera] law and thc taw of the � . •
<br /> � jurisdiction in which the Property is located. In the event that any provision or clanse of this Securily Instrument or the Nate �•. �
<br /> :4� • conflicts with applicable law.such wnflict shall not affect other provisions of this Security Insmsment or the Note which can be .
<br /> ' given eifect without the conflicting provision.To ihis end the provisions of this Security Insuument and the Note are declared to
<br /> ' bc scvcrablc. .
<br /> Form 3028 9180
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