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<br /> '. � . : � paym�►u may no tonger be requircd.at the option of Lender,if awrtgage insurance coverage(in thc amount and for the periad . , •
<br /> , : .� that LeAdcr requires)Provided by an ins�rer approved by I.eader again becames available and is obrained.Borrow�s6all pay the �
<br /> � � pcemiums rcquiretl to mainrain mortgage i�astuance in effec4 or w provide a toss mseive.until the req�emcnt for mortgage � . ,, .
<br /> <j insurance ends in accordance with any wriuen agrexment t�etween Bonower and LenQci or appHcabte law. � _ . � : ..
<br /> . . � t 9.Ias p�ction. I.ender or its agrnt may make reasonable entries upon and i�ecpnns of the Property.I.endcr s6all give:�. , - -- ,
<br /> • r ��'1 Baaower norice at We Wne of or prior m an inspection sP e c i f Y i n S r�o n a b�e�use f o r t h e i n s p e c ti o n. .. -•-,`�- - - -
<br /> �- .'�- � l0.Coudemnation. '[1ie psoceeds of aay award or claurs for damages,direct or conseqaential, iu connearon with any� --- --�- --
<br /> . . , of the Propcatyr,or for conveyance u�lien of condemnation,are herehy assigaed and� . : .� <<` °
<br /> `, ' i conde�nnation or other taldng of any part . ' �-
<br /> ; shaU be paid w Lender. � . �
<br /> � In the eve�t of a t9ta1 taking of the Propelty.the pmcecds shaD be applied to the sums seaued by this SecaQity Insurumem. ;. .�.....'
<br /> m wluch the fanr martcet ° `" -
<br /> � + whethea ur nat then due,with any excess paid to Borrowea.In the event of a partial taka►g of the Propeaty' --� �-
<br /> i before We taking i�eqaal to or greater tuan the amount of the sums secured by this Seauity ',`--'�`:
<br /> .' valuc of the Property iaunediate Y an �_��.
<br />_ � � lnsuvment immediiatelY 6efore the taking, uniess Brnmwer and Lender otheawise agree in writing,tl�e sums sec�ued bY� �� a�,_:
<br /> , • ge�rity Inst�umeat s6a11 be red�by the amount of the proceeds muttiPlied by the folloa�mg 5action:(a)the tntal amount of „,r i ' _�Y��_"
<br /> _ . • the sums secured immediately before the taking,divide�by(b)the fair market vaWe of the Rnperty immediately before the . ,� Y —=
<br /> �a e
<br /> . . takinS•My 6alance shall be paid to Borrowe.r.In the eveat of a partial�g of the propary in which the fair maifcet vatae of the ..� =: .`'--�-'_.
<br /> , • prape�ty immedi�ately before the ta�g is �ess than tha amount af the suu�s sec�ed immediatety before We talcing, untess ` :�: .�,._
<br /> suu s
<br /> � - Borrower and Le�eder othe�wise agree in writing or unless aPPlicable law otheawise provides,the pmce�ds shall be a�pfied to the - 's� .-
<br /> � . - sums seaue�by this Secarity Insu�unent arhether or noi the sums are then due. ' _ ----
<br /> . � . If the Property is abandoned by Borrower,or if;after norice by Lendea to Bomnwer that the condemnor offeas w make an . . ';�,?�_°a._
<br /> . � _ . .-; �ward or setile a claim for damages.Bosrow�faits to respond to L e n d e r w i t h i n 3 0 d ays a ft e r the date the noticc i�given,l.cnda _ _ ,;<'�.�_n.
<br /> :..�'� is auchorized[o couecc and appiy�ae proceeds,at its op6on,eiti�sr m restoraaon or repair of the Properry or to the surtis secanred ., --
<br /> . � '� by this Secauity Insuument,whether az aot then due. `• .',� iy
<br /> "=� �:�
<br /> ' • Uatess Lender and Bormwer otheiwise agcee in writing,anY aFPlication of piocecds w principal shall not eatend or postpone �1; ':',th r R--�
<br /> �:� w�s
<br /> .. .�,;.`, �he due date of the mmsthlY PaYII►ents refecred m in paragraphs 1 and 2 or change U�e arnaunt of such paymeaus. � .�':-�—_
<br /> . , Il.Borrower Noi Reieased;Forbeasance Bp I.ender Noi a Waiver. F.�tension of the time f�paymeat or mod�fication _ . .. -�_
<br /> ' of amorti7ation of the sums seaued by this Seuuity lnsaument granted by Lendca tn any successor ia interest of Bosower shall . ��
<br /> , , . aot ageaatc w release dee liability of the ariginal Bonower or Bonower's succes�ors ia interest Lender shall not ise required tn . .-`fi,�.�,■�
<br /> u' . . commence proceedings aF,ainst anY successor in interest or refuse to eMend time for payment or otherwise modify amorti7arion of . , —
<br /> �- � the sums se�ued by this Sera�rity Insuument by reason of any demaad made by ihs original Bosrower or Borrowe�r's successors
<br />_; � • in interest.My forbeazancc by I.cnder in exacising any right or reme�y shall not 6c a waiver of ar preclude the excrcise ot any � ' �'�`._$-_�;
<br /> � .• rigdt or remedY• ; ,��'...
<br /> � :
<br /> � 12.Successors and Assigns Buond;Jotnt and Several LtaDiUty;Casignera The covcnants aad agreementa of this .:;L�
<br /> Security Inswment shall bind and benefit the successors and assigns at Lender and Soirower,subject W the pravisions of ;'`�`
<br /> _ .. .. ' paragraPh 17. Bonowcr's covenants and ag�cemcnts shall bc joint and several. Any Barrower who co-si8as �his Securily : ' •T��^-
<br />- � � lnsuument but daes nat execute t�e Note: (a)is co-signing�his Security Instrament only co mortgage.grant and convey that .-�:�. `_
<br /> � • Barrowcr's intaest in thc Property undcr the tams of this Sccurity Instrament;(b)is noi personally obligated w pay the stims . � ;�_`_
<br /> secured by tGi4 Security Instrument;and(c)agrees thaz Lendet and any other Bocrower may agree w extend,modify.forbexr or . : '.•��=w.
<br /> � make any accommodations with regard to the tenns of this Security I�strument or the Notc without that Borrower's consen� � .=�
<br /> � 13.l.flan Cdarges. If the loan securcd by this Security lnstrument is subject to a taw which sets maximum loan charges. ���1 �°� ::•.�'
<br /> . � and that law is finally interpreted so that the interest or other loan charges coltected or to be collected in connection with the loan . : . .. .�`
<br />_� .� :� exceed the permiued limits,�I►en:(a)any sucb loan charge sball be reduced by the amount acxessary to reduce the chatge to the .. -_--
<br /> � .� permitted limi�and(b)any surac already coliected fram Boaower which eaceeded pamitted limits wiU be refunded w Barrowea. , . .
<br /> _ .: i Lendca may choose to make this refund by reducing the principal owed unda the Note or by maldng a dirc:t payment w .
<br /> �. � �� Boaower. lf a refund reduces principal,thc reduction will be ueated as a partial prepayment without any prepayment charge , ..
<br /> •<, �. � ., � �,. . ..
<br /> under the Note.
<br /> , 14.1►lottces. My notice co Bonower provided for in this Sec�uity Insuument shaU be given by delivering it or by mailurg it �' �
<br /> ' ' by first class mail un2ess applicable taw reyuires use of another method.'[he notice shaU be directed w the Propert}+Address or _
<br /> .r';� aay other address Borrower designatcs by nodce ts�Lender.Any nodcc w I.cnder sha11 be Bivcn by first class mail to Lender's . : '.� , ,
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<br /> � � �� address stated herein or any other address Lender designates by nodce to Borrower.Any notice provided for in this Seciuity
<br /> � � Insuumcret shall be deemcd w have becn given to Bonower or Lcndcr whcn given a4 provided in tliis paraSraph. • :
<br /> 15.Goveming Law;Severability. This Security Inswment shall be govemcd by federal law and the iaw of Ihe . •
<br /> � ; j�risdic6on in which ihe Property is located.In the event that any provision or clause of this Security Insvumen4 or the Note . .
<br /> � •� � conilicts with applicable law,such conilict shall not affect other provisions of this Security Inswment or the Note which can be • ' . , .
<br /> � ' . � given effect without the wnflicting provision.To this end the provisians of this Securiry Inswment and the Note are declared to � •
<br /> � be sevcrable. . • �
<br /> • Fatm 3028 9/90
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