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<br /> � ` � � payments may no longer be required.at the option of Lender,if mortgage i�uurance coverage�in the amount and for the period • � i `��
<br /> � � ,t� . that Lender requires)provided by an insurer approved by Lender again becomes available and is obtained.Bortower shall pay . _ �
<br /> ; , the presniums r e quired to maintain martgage insurance in effect.or to provide a loss mserve,until the requirement for mortgage � .. `,.: <
<br /> � � ` "t-� . in�urance ends in acconL•u►ce with any written agreement between Horrower and Lender or applicable law. 0 ,
<br /> ' � � 9, Inspecttoa. L.ender or itc agent inay make rrstionable entrie,upon and inspections u[the Pmperty. lxnder shall gi�e� , '` " ,.•„( �
<br /> Borrou•er notice at the ume of or prior to an inspection sgtcifying reasonabte cause for the inspection. � �, r�
<br />------- � ;���_-`- tp.Coitde�nna;iou. The proceeds of any awani or claim for dan�ages. direct or rnnsequential. in connection with any� - ---J - �--
<br /> . � , condemnation or other taking of any part of the Property.or for comeyance in lieu of condemnation.are hereby assigned and� . ��.
<br /> - : sha:l be paid to Lender. : �..;�
<br />-• ' S',,:. [n the event of a total taking of the Property.the proceeds shail be applied to the sums secured by this Security Instrument,� .
<br /> .. whether os nat then due, with any excess paid to Barrower. tn the event of a partial talring of the Propeny in whic�h the fair
<br /> • -� market value of the Property immediately before the taking is eyual to or greater than the amount of the stuns secured by this ...
<br /> • • Security Instrument immediately before the taking,unless Borrower and Lender othenvise agree in writing,the sums sec�ued by
<br /> � � this Security Instrument shall be reduced by the amount of the proceeds muttiplied by the following ftaction: (a) the total '.:>;;;e�,:�-
<br /> � 't amount of the surr�s serured immediately before the taking, divided by(b)the fair market value of the Property immediately , ,;. __�
<br /> before the talcing. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in w h ic h t he fair __ . ''��=��.:_
<br /> .t`t. •�4[.0,..�.
<br /> . •' . ;f markei valuc of the Property immediately before the taking is less than the amount of the sums secured immediately before the �_
<br /> �"� : �..-_
<br /> � :? taking, unless Borro�ver and[.e►ider othenvise agree in writing or unless applicaf�le law otherwise provides.the proceeds shall , �,,
<br /> � �• � - be applied to the sums secured by this Sewriry Inswment whether or not the sums are then due.
<br /> ��,.._.
<br /> � � �� If the Property is abandoned by Borrower,or if,after notice by Lender to Borrower that the condemnor offers to make an ,�,_�_
<br /> ; .��
<br /> � award or settle a claim far damages, Borrower fails to respond to Lender within 30 days after the date the nouce is given. � �. ,y' �--,.
<br /> =y Lender is authorized to collecc and apply the proceeds,at its option,either to restoration or repair of the Property or ta the sums _:. �.
<br /> � .� .�.'' secured by this Security Instrument,whether or nut then due. , ' �
<br /> ..�_:,�.
<br /> ' Unless Lender and Barrower otherwise agree in writing, any app�icauon of proceeds ta principal shall not extend or �., �;_�-
<br /> . �_
<br /> o�t one the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such pay�nents. ' �_����-�
<br /> . p :p , :;-,:; z.,
<br /> � � l l.B o r r o w e r N o t R e t e a s e d;F o r b e a r a n ce S y I.e n d e r No t a Waiver.Extension of the time for payment or modifscation :^;�`�:_
<br /> " � of amonization of the sums secnred by this Security Instrument granteci by I.ender to any successor in interest of Boaower shall ``�'�>��
<br /> ' '-�.��::
<br /> � .� not operate to relcase the liability of the original Borrower or Boaower's successors in interest. Lender shall not be required to '=.,,a,-�;-
<br /> - .��-,.
<br /> • � commence proccedings against any successar in interest or refuse to extend time for payment or otfierwise madify amortizauon � �Ea�;
<br /> ' . of the sums secured by this Security Instrument by reason of any demand made by the original Barrower or Boaower s ' ��:,�'�'
<br /> , successors in interest. Any forbearance by l.ender in exercising any right or remedy shall not be a waiver of or preclude the � .,;;. '� �,
<br /> ;��`rf.:s-•.
<br /> • � exercise of any right or remedy. ..
<br /> � • 12. Successors and A�.signs Bound;Joint and Several Liability; Co-signers. The covenanu and agreemencs of this � "`�'
<br /> �.�;
<br /> ; • Securiry Instrument shall bind and benefit the successors and assigns of l.ender and Bonower, sub}ect to the provisions of � .. ,i�.,_��.
<br /> '-- ' -:T�, paragraph 17. Borrower s covenants and agreemenis shall be joint and several. Any Borrower who co-signs this Security :;;_�,�
<br /> ' instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and coavey that ;�:.;�-__
<br /> . Y��`._—+�
<br /> ' : . Bortower s interest in the Property under the terms of this 5ecurity(nstrument:(b)is not personally obligated to pay the sums --
<br /> � � securcxi by this Securiry Instrument:and(cl agrezs that Lender and any other Borrower may agree to extend.modify,farbear or �J ��=-
<br /> s •� ;
<br /> . • � make any accommodatians with regard to the terms of this Securiry Instrument or the Note without that Borrawer's consent. . �-:•,�'�`
<br /> 1 3.L o a n C h a e g e s.If the loan secured b y this Security tnstrument is subject to a law which sets maximum loan charges. • ..��..
<br /> � �� ,. , and that law is finally interpreted so that the interest or other loan charges c�llected or ta be collected in connection with the .. �.�:��
<br /> loan exceed the permitted limits.then: (a)any such loan chazge sbal!be reduced by the amount necessary to reduce the charge •, `, •�_`
<br /> : . to the permitted limit:and(b)any cums already collected from Borrower which exceeded permitted limits will be refitnded to =_-
<br /> ` � � . Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct . -
<br /> ''` ' �. payment to Borrow•er. If a refund reduces principal, the reduction will be treated aS a partial prepayment without any . ; .. •
<br /> • prepayment charge under the Note. ' ;�-
<br /> � � . 1�.Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing :'�'+� ,,f
<br /> - � it by first class mail unless applii:able law requires use of another method.The notice shall be directed to the Property Address . .
<br /> ' � . � or any ather address Borrower designatcs b� noticc to L.ender. Any notice to Lender shall be given by tirst class mail to
<br /> � � . Lender',address stated herein or any other addrews Lender designates by notice to Borrower. Any uutice provided for in this ,
<br /> ' ' � Securiry In�trument tihall bc decmeci to have been given tn Borrower ar Lender�vhen given as provided in this para�raph. •
<br /> 15.Governin� Ls�w; Severability. Thi. Security instrument shall be governed by fedcral law and the law of the
<br /> ' • . , jurisdictian in which the Property is located. ln the event that any provision��t clause af this Security Instrument or thz Note � .
<br /> � conflicts with applicable law.such conflict shall not affect other provisions of this Security Instrument or the Note whieh ran be
<br /> ` ; � . given effect without the canflicting provision. To thiti end the provi�ionti of this Security Instrument and the Note are declared . �
<br /> ' to be sevcrablc. • .
<br /> . . � 16.Bnrrower's Copy.Borrower shall be given one conformed capy of the Note and c�f this Security lnstrument. .
<br /> . Form 3028 9/90 '
<br /> - Pagc 4 016 ' , .
<br /> . . . ' ' . . - . .. . � I , __ _ �_ .' __
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