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<br /> , ..i� ' payments may no tonger be required,at the option of l.ender,if mortgage insurance ooverage(in the amount�d for the petiad . `...�; < ; .�`.i`£
<br /> (_.-.:.�: that i.ender tequires)provided by an ins�erer apProved by Lender again becomes available and is obtained.Borrower shall paS+ .
<br /> t �°-.-.-� ,j �e p�����tp maintain mor[gage insucance in effeCt,or to provide a loss reserve,unt�7 the requirement for mortgage `
<br /> —---<-.� eat betwe�►Bosrov:er and Lender or applirable law. "- t -`_'.--- �` "°- ___
<br /> � , insutance ends in zccocdance with aay w�riuen agr+eem . .
<br /> • 9.Inspectton.Lender or its agent may malce t�sonable enuies upon and inspearons of the Property. Lmder shall give ` �.<<. �'.
<br /> � Borrower notice at the rime of or prior to an inspection specifying reasonable cause for the inspeaion. � 4. '
<br /> � 10.Condemnatton. The pmceeds of any award or claim for damages,direcc or consequential, ia connxdon wlth any . ... .
<br />° � � condemnarion or other tatdng of any pan of the Property.or for com�eyance in lieu of coademnation,are hereby assigned and . . ., -..
<br /> J�.�:��� �::� ��� ,�,.._
<br /> . sha11 be paid to I.ender. . � .
<br /> In the eveni of a wtal tal�ng of the Froperty,the pro�eds shall be applied to the sums sec�ued by this SeenritY Insm�ment, ,:`t'. , _.. ���:,..: ;�:
<br /> .. whether or ant then due, with anY excess paid to Borrower. 1n the event of a partial takin�of the ProPenY in which the fair , •
<br /> ... -r .. :�.
<br /> � market value of the PcoPertY immediazely befo�e the taldng is eqnal to or greater thaan the amount of the sams secuted by tlris . ' ' - .',�4.;-
<br /> n �,... .:,, _
<br /> ....��.•,,:__
<br /> � Security Insmiment immediatelg before the taldng,nnless Bormwer and I.eader otherarise agree ut writing,the s�rms secured by , . __�.-
<br /> ' ; ; this Seauity Tnstnu�t shaU be reduced by the amount of the pmceeds mutriplied by the following fixcuan: (a)the total . _
<br /> • �. amount of the sams secured immediately before the talang,divided by(b)the fair marke[valae of the Property im�ediatetY .r. _
<br /> ' befoie the taking. Any ba3ance shall be paid to Borrower. In the event of a partial taking of the PmpertY ia which the fair ' ;" -._-
<br /> :. .. „< -
<br /> • - market value of the Properry immediately before the taking is less thaa the amount of the sams se�ured immediuely before the .�..'I=,,.... :.,_
<br /> k
<br /> . • t a k m g,u n tess Borrawer and I.ender otberwise agree in writiag or unless applicable law otherwise provides, the proceeds sha11 . —
<br /> �: :::_,z•_:�-�'
<br /> ' �`' be applied to the sums secured by this Security Insm�men[whether or�t the sums are then due. . �: ,
<br />. � .• •_� �the pmperty is abandoned by Borrower,or if, after no6ce by I.ender to Borrower that the condemnor offers to make an -
<br /> � ' awar d or settle a claim for damages, Borrower fails to respond to Lender within 30 days af[er We date the notice ia givea,
<br /> � � Lender is authorized to collea and apply the proce�.s,at its opuon,either to restorarioa or repair of the Property or to the sums ;�`:;���.:_
<br /> � . - secured by it�is SeQUity inctmment.whether or not then due. _—_
<br /> Unless l.ender and Bormwer otherwise agree in writinS• anY aPPlication of proceeds to principal sha11 not extend or ��
<br /> '� �:2•1"
<br /> . � postpone the due date of the monthly payments neferred to in paragapl�s t and 2 or change the amount of such payments. , ;..--_�_,
<br /> 11.Borrower Not Reteased;Fotfiesianse By Lender Noi a Waiver.Extension of the time for payment or modification " . :�. ��
<br /> .._;�:°��
<br /> of amorcizaiion of the sums secured by tlus Securiry Insaumeeuc granted by Lender to any successur in interest of Bonoaer shall ,�.°_�;• �,��
<br /> � � � not operate w reiease the liabiliry of the original Bom�wer or Borrower's successors in interest.Lender sha11 not be requiced to ,�'�
<br /> � wmmence proceedings against anY saccessor In interest or iefiise to extend time for payment or othetwise modify amortizatlon . ;��.3
<br /> � ,,i of the sums secured by ttus Secvrity Insuument by reason of aay demand made by the original Borrower or Borrower's • ' .�_=
<br /> ' ` y�uccessors in interest. An}r forbearance by I.ender in exercising any rigbt or remedy shall not be a waiver of os preclude the _ .. : :�_:�-�
<br /> - exercise of any right or remedy. ;%. ��;�-°`�
<br /> ' � ~ 12. Successois and Assigng Bound;Joint end Several Liability, Co-s�gne�s. The covenants and agreements of this �T�����
<br /> • .',, g e�u i ty Inswment shaU bind and benefit the successors and agsigns of Lender and Boaower. subject to the pmvisions of . ,.,,;7_.
<br /> .,,��1.,:..
<br /> . •a paragraph 17. Borrower's covenaau and agieements shall be joint and sev e r a l. A ny Barrower w ho c o-s i g n s t h i s 3 e c u r i ty . . �
<br /> ' • lnstrument but daes not execute the 1Vote: (a)is co-sigaing ttus Securiry Instn�ment oA1Y to mortgage,grant and convey that :, :�.� .
<br /> � Borrower's interest in the Property under the terms of this Security Insaument; (b)is not Peiso n a lly o b ligat e d to pay t he s u m s °��;
<br /> .-�::
<br /> secured by this Securiry Instrument;and(c)agrees that l.ender and any other Borrower may agree co eatend, modify,forbear or ' :•�;LL
<br /> " - `.� nnake any accommodatlons with regard to the tesms of this Security Instrument or the Note without that Borrower's consent. �� ;
<br /> ;�� _..._,..
<br /> � • 13.Loan Charges.If the loan secared by this Security Instnunent is sub}ect to a law which sets maximum toan charges, .
<br /> �� . '# and that law is finaliy interpretcd so that the interest or other loan chazges collected or to be wllected in conaectIon with the . "' . ,, :
<br /> � loan exceed the perwitted limiu,then:(a)any such toaa charge shall be reduced by the amount necessary to reduce tl�e charge
<br /> �' . ' w the pennitte�limit;and(b)anY sums already oollected from Borrower which exceeded permitted limits ariU be refuaded to
<br /> � ' � Bonower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a d'uect ,
<br /> . . ' payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any
<br /> piepayment charge under the Note.
<br /> �i 14.�totices. An notice to Borrower rovided for in this Secruity instrument shall be given by delivering it or by mailing ' � � . :
<br /> ,_.,
<br /> ' � it by first class mail u ess applicable law requires use of another method.The notice shall be directed to tlie Properry Address . � �
<br /> ` or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to
<br /> • ! Lender's address stated herein or any other address l.ender designates by notice to Bonower. My notice provided fot in this .
<br /> � Security]nstrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph.
<br /> . � ' I5.Governing Law; SeverabUtty. This Security instrument shall be govemed by fcderal law and [he law of the
<br /> � � � i jurisdiction in which the Property is located. In the event that any provision or clause of this Security (nstrument or the Note :
<br /> , ,, � wnflicts with applicable law,such conflict shall not affect other provisions of this Security Instrument or the Note which can be . ,
<br /> '�. ) given effect withouc the conflicting provision.To this end the provisions of this Securiry lnstrument and the Note are declared
<br /> j to be severable. �
<br /> . • ,, 16.Borrower's Copy.Borrowet shall be given one conformed copy of the Note and of this Securiry lnstmment. :
<br /> � Form 3028�9�p/90 ..
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