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<br /> , . ' gayments may no longer be req�tiied.at the opdan af Ixnder,if mortgage insurance coveiage('m the amo�������d .` `, �. . �: ,
<br /> � • � that Lender requims)grovtded by an msuter approved by Leader again becomes ava�able and is obadined. Bossower sball pay �
<br /> ' ., c.�, the p�emilm�s t�(uiced W m2intain mortgdge i�utdnce iII effect.or to grovide a loss reserve.unW the cequirement fot mortgage . •`-:._ '.-- -:-
<br /> .__ � ins�tanoe ends in aocordance with siry written agreement 6ete+een Bomnwer and LentLer or applicable law. Y _`•� :
<br /> � ` 9.dnsp�t[on.I.eader or iu agent may make reaso�ble entaes�on and'mspections ef the Propeny.Lender shall give • " <r•
<br /> ' ' . ' � Bormwer nutice at the time of or prior to an iaSpection sPecifyinS ieasonable cause for the inspecdon. : _ • ���.
<br /> • ' 10. Condemaat�oa.'ilie pmceeds of any awazd or claim for damages. direct or co�eqaeni�al. in connection with any --.=.���' • ''<`.'-
<br /> � � cond�nadon or other taldng of any part of the Pmperty,or for comreyance in lieu of wndemnation,aze he�eby assigned and � - �
<br /> . , shall be paid to Lender. ' , ,..`<-.•
<br /> • . In the event of a toql falring of the Pmperty.the proceeds shall De applied to the sums seWred hy this Seauity Ins�ment. � � ;`;,;i�::�
<br /> � • ` whether or not then dne. with an exc�s paid w Hoirower.In the event of a attial taking of the Pra in wluch the fair � .:'�"'::
<br /> . �.,y y F P�Y� _. . . .a,.�-.°'�-,,
<br /> . " �� ma�lCet walue of the Property immediately before the taidng is equal to or gieates ti�w the ammmt of the s�ms s�by this .� "`' : �;
<br /> � Security Ias�mment i�ediatety before We tatung.unless Bomawer and l.ender otherwise agree in writing,the soms secured by `° .. - •� .
<br /> ' r this Seauity I�s�ument sball i�e redaced by the amannt of the pnocxeds mnttiplied by the foltowing fraction: (a) the total "� �.:'�
<br /> . . � amaant of the snms secvred immediately before the taking,divided by(b)the fair market vatue of the Property irnmediately . ,'`..-_—_
<br /> . � ' befoze tfle raking. Anq balance shali be paid w Bormwer. In t6e event of a partial taking of the Property in wlucli the fair �_
<br /> • •`i market value of the Property�ately before the taldng is tess tl�an the amonnt of the sams se�ced immediately before ti�e - ` ---
<br /> ��:� ta�ng,untess Borrower and Lender othecwise agiee in writing or anless applicable law othetwise provides.the praceeds shall . .. —
<br /> - � •. ''`� be applied W the smns secared bp ttus Secarity Insuument whet�er or not the svms ace then due. _` `•:-•; ` ;-�
<br /> � If the Property is abandoned by Bormwer.or if.after notice by Lender to Borrawer that the condemnor offers to make an ',_: � �°_ _
<br /> � award or seule a claim for damages. Borrower fa�s to nspond w Lender within 30 days after the date the nodce is given, `�:��,.:�_•aT
<br /> . , ,�. . =�`,:: �.:�.�
<br /> Lender is authorized to collect and applq dte proceeds.at its option,either w�estorecion or repair of the Praperty or to the sams :�. �r,.;. _
<br />- �•. �, � sec�ed by tLis Secarity Insuument.whether or not then dae. -. .-- "�-�`-�
<br /> � ' ' Unless I.ender and Borrower otherwise agcee in writing, any application of proceeds w p:ittcipal sLall not extend or ° . . •��,�„�'-
<br /> � postpone the due date of the monthiq paymeats ieferred w in pazagc$phs 1 and 2 or ct�.wge t�he amownt of suc�paymenLs. .;;,�t : ��
<br /> � " � ii.Borraw�Not Rel�ased;Forbea�ance By I.euder Not a Waiver.Bxteasion of the rime for payment or modification � �"•�'�'���
<br /> � � � of amortizadaa of the surns secured by this Sewrity tns�ument gtanted isq l�ender to aay succe�sor in iatecest of Barrawer sball . �'' „j:-----"
<br /> ,� •_• —--
<br /> . not ope�ate to release the liability of the original Bonower or Bormwer's snccessors in inierest. Lender sDali not be reqnired w � . ; '��_°--
<br /> commence pmceedings against aay successor in intcrest or iefuse to extend dme for payment or otheiwise modify amonization - -�
<br /> �� �. .:.
<br /> . of the s�s secured by this Seauity Instnmment by reason of any dema�W made by the original Borrower or Horrower's �. .' ' ` •�'.4�'
<br /> � . saccessoss ia interes� Any frbeacance by Lender ia exercising anq right or retnedy shall not 6e a waiver of or preclnde the ..�� ',�^��
<br /> ' exercise of any right or remedy. �:':-�-
<br /> '..t..f�.•,. :-�,---—•
<br /> . � ' ' . l2. Snccessoes and l�►ssJgag Boun�Jo1nt and Severad 1�abllity; Co�signeas.'i9�e covenants and agreements of tbis , �� '-'—�"""
<br /> ,.�-K�.
<br /> • Seauitq Insuument sball bind and bene6t the successors and assigus of Lender and Borrower. subject to the prmrisions of ' . ,�.__�
<br /> � paragraph 17. Borrower's covenants and agreements shall be joiru and several. Anq Borrower who co-signs this Security �. .` : ..: :.�.��;�
<br /> ' Instnnnent bnt does not execute the Note: (a)is co-signing ttus Secarity Instnrment only W mortgage.grant and comey that .�.-��.�-
<br /> .. ��.
<br /> . ' �' Borrower's intemst in the Property under the tem�s of this SecnrIty Iasmm�enr, (6)is nat pe�sonally obligated to pay the sums , i=�.,..
<br /> secured by this Security Ins�ument;ancl(c)a�ees that Lender and any other Borrowcr way agcee to extend,modifq,forbear ot ° �=�:-;;�
<br /> � ' 1 make any aocommodations with regar�to the teims of tLis Security Iaspument or the Note withont that Borrowes's conseat. •'..�;�
<br /> � � � : 13.Loan Cl�a�ges.If the loan secured by this Seca�rlty Insm�ment is sabject w a Jaw afiich sets maximum loan c6arges, . � ..+•_��s. ,
<br /> - - '• and tbat law is 5nallq iafeipreted so tl�at the interest os ather loan charges collcered or ro be calle�ted In wnnecpon wlth the . " �=,;,
<br /> � . loan exceed the pemutted limits,thea (a)any such loau cl�aarge s6a11 be rzduced by the amouni necessaTy w rectnce th�cbarge . � : .
<br /> r
<br /> ..� to the peimitted limit:and @)any sams already coilected from Borrower whlch exceeded pemritted limits wili be refanded to � �
<br /> ' . { Boaower. Lender may choose to malce this refund by reducing tlie prinsipal owed undes ihe Note or by making a direct � - ,� � • �
<br /> - . � payment to Borrower. !f a refund red�ces principal, the reduction will be ueated as a partial prepayment without any ' , � : .
<br /> . � prepayment charge under the Note. � ' :
<br /> � � 14.Notice9.Any nn6ce to Bonower provided for in tLis Security Insmrment shall be given by deliveting it or by mailing � ; . .
<br /> it hy Srst class mail untess applicable law requires use of another method.The noace shall be directed to the Property Address • •. � � ' �
<br /> .� or any other address Bonower designates by notice to Lender. Any notice to Lender shall be given by first class mail W ' ••
<br /> - Lender's address stated hereln or any other address Lender designates by nodce to Borrower.Any notice provided for ia this ; �. . �
<br /> � Seauity Insmsment shall be deemed to have been given to Borrower or l.ender when given as ptovided in this paragtaph. � • . '
<br /> �. ]5.GoverNng Lav� Severability. This Security lastn�ment shall be govemed by federal law and the law of the .' � .
<br /> ' jurisdiction in which the Property is located. In We event ti�at any provision or clause of this Security lnsuument or the Note
<br /> conflIcts with applicable law.such conflict shall not affect other ptovisions of this Seeurlty Inswment or the Note vfiieh ean be
<br /> given effect withont the conflicting provision.To this end the provisions of Uvs Seeurity Instniment and the Note are declarecl � � �
<br /> j to be severable. . ' �.
<br /> : . � 16.Borrower's Copy.Bonower shall be given one conformecl copy of the Note and of tLis Security laswment.
<br /> . i Form 3028 9l90� •
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