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<br /> ` ' payments may no longer be required,at the option of Lender, if mortgagc insuranre coverage tin the amount and for the period .. •` • ;-�--
<br /> that Lender requires)provided by an insurer approved by Lender again become+available and is o6tained. Borrower shal!pay . �, i'_
<br /> the premiums required to maintain mortgage insurance in effect,or to prov�de a loss reserve,until ttie requirement for mortgage ; �'�
<br /> insuranre ends in accordance�vith any written agreement between Borrower and lxnder or applicable law. ' • -
<br /> 9. IntipeMIon. Lender or iu agent may make reasonable entries upon and inspections of the Property. l.er�ier shall give "'� ��� ,. ;` �, -
<br /> Borrower notice at the time of or prior to an inspection specifying rzasonable cause for the inspection. ;-�-'�^�-�,s-
<br />-- 10. Condemaat�on. The proceeds of any award or claim for damages,direct or consequential, in connection with any . . .
<br />, - oondemnation or other taking of any parc of the Property, or for conveyance in lieu of mn�iemnation, are hereby assigned and _ _ - �s
<br /> . shall be paid to l.ender. � �
<br /> � [n the event of a total taking of the Property.the praceeds shall be applied to the sur►u secured by this Security[nstrument, � 4 '.
<br /> � whether or not then due, with any excess paid to Borrower. In the event of a parcial taking of the Property in which the fair . � y
<br /> market �alue of[he Property immediately before the taking is equal to or greater than the amount of the sums secured by this _ ��.�Yr� �`°,-
<br /> Security Instrument immediately before the taking,unless Borrower and Lender otherwise agree in writing, the sums secured by . .y���_,.
<br /> . this Security Instrument shall be reduceci by the amount of the proceeds multiplied by the following fracuon: (a) the total _ , �••°
<br />- amount of the sums secured immediately before the taking. divided by (b) tl�e fair market value of the i'roperty immediately � : . . -_-.
<br /> before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair � �:�
<br /> market value of the Property immediately befare the taking is less than the amount of the sums secured immediately before the '-��"`_ � "
<br /> talcing, untess Borrower and i.ender otherwise agree in writing or unless applicable law otherwise pmvides, t�te procceds shall �+��'_(�
<br /> � ` be applied to the sums secured by this Security Instrument whether or not die sums are then due. • �,.`�� • .�,,w
<br /> . ,�.,;.. ,,�,�-=-
<br /> ,. .� If the Property is abandoned by Borrow:r.or if,after notice by Lender to BorroKer that the condemnor offers to make an r� � .
<br /> awazd or settle a claim for damages. Borrourz fails to cespond to Lender wichin 30 days after the date the notice is given. ���J'�; ----°�"��
<br /> �'�" •.- - .
<br /> I.ender is authorized to collect and apply the proceeds,at its option,either to restoration or repair of the Property or to the sums � `
<br /> �- secured by tfiis Securiry Instrument.whether or not ihen due. '�'' '��� ..
<br /> �-•'-�=---
<br /> _ Unless Lender and Borrower otherwise agree in w�riting, any application of proceeds to principal shall not extend or �
<br /> • f the monthl ments referred to in aragraphs 1 and 2 or change the amount of such paymenu. � .'•'����-��-
<br /> postpone the due date o y pay P ��. '�- �
<br /> 11.Horro�ser Not Released;Forbearaince By Lender Not a Wa�tier. Extension of the time for payment or modificat�on :...�.; • ��: , ,
<br /> of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall '��': ''�"'�"'•'�.'. =
<br /> ��_
<br /> ' not operate to release che liability of the original Borrower or Borrower's successors in interest. I.ender shall not be required to
<br />� commence proceedings against any successor in interest or refuse to extend time for paymeM or otherwise modify amortization •� r
<br /> ,•,�:�; of the sums secured by this Security Inmument by reason of any demand made by the original Borrower or Borrower's - � ���•,
<br /> ,..�
<br /> 'Y�`s. successors in interest. My forbearartce by Lender in exercising any righ[ or remedy shal! not be a waiver of or preclude the ' • "' e ••
<br /> j.'°:�: r,, ,
<br /> exercise of any r+ght or remedy. �'''` �
<br /> 12. Successors and Assigas Bound; 3otat and Several Llability; Co-signers. The covenants and agreements of this - �'£,:`.
<br /> S�cvrity Instnsment shall bind and benefit the successors and assigns of L.ender and Borrower, subject to the provisions of ',� �„����
<br /> paragraph l7. Borrower's cavenanu and agreemenu shall be joint and several. Aay Borrower who co-signs this Security .�. �c ��.
<br /> � Instrument but co� not execute the Note: (a3 is co-signing this Security Instrument only to mortgage, grant and convey that , ;'
<br /> Borrower's interest in the Property under the terms of this Security [nstrument: (b)is not personally obligated to pay the sums ' �; ,�:
<br /> " secured by this Security Instnsment;and(c)agrees that Lender and any other Borrower may agree to eztend,madify,forbear or - -_
<br /> make any acwmmodations with regard to the terms of this Security Instrument or the Note without that Horrower's wnsent. „�-.
<br /> 13.Loan Charges.If tne loan secured by this Security InscRament is subject to a law which sets maximum loan charges. y�. •^:•
<br /> . and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the ��n--
<br /> �rr���an"
<br /> loan exceed the permitted limiu,then: (a)any such loan charge shall be reduced by the amoum necessary to reduce the charge �,.,�..�;__:_�,
<br /> �=. to the permiued limit;and(bD any sums already collected from Borrower which exceeded pertnitt�ed limits will be refunded to ��snwis+�s•�'
<br /> �c.�ower. L.ender may chaos� to make this refund by raducing the principal owed under the Note or by making a direct ��--.-
<br /> • payment to Borrower. If a �efund reduces principal, the reduction will be treated as a partial prepayment without any
<br /> ��'::�� -- -..��,
<br /> prepayment charge under the Note. '��"��'•-�
<br /> �_,'_ ;`��.
<br /> . 14.Nottces.Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by maili:!g !!'!�°�'��—:1 .- �
<br /> � it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Peoperty Address - �;;�,n...,._.
<br /> , or any other address Borrower designates by notice to Lender. Any notice to Lender shall be gi�en by first class maii to � �°""'�."'�"-'
<br /> • L.ender's address stated herein or any other address Lender designates by notice to�orrower. Any notice provided for in this r'� �`�' `%
<br /> '����.-..���..�.� �:.:�
<br /> Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. ,�;
<br /> : I5.Goveming Law; Severabtlity. This Security Instrument shall be governed by federal law and the law of the - :.: �
<br />; jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note =.f-�y�`='":
<br /> . conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be
<br /> given effect without the conflicting provision.To this end the provisions of this 5ecurity Instrument and the Note are declared �; __
<br /> • � to be severable. -
<br /> ���;
<br /> 16.Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Securiry Instrument.
<br /> Form 3028 9I90 �'�`
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