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<br /> • • � t�. substant6ally eyuivalent mongaae in+urance cc+verage is not available.Borro«�er shall pay to Lender each month a sum equa!to ° '.:;.•,�
<br /> , � one-tw•elfth of the yearly mongage insuranre premium being paid by Borrower when the in�ursnce caverage lapsod or�eased ro :''"�,�
<br /> � .< <i ;� be in effert. Lender�ti ill accepi.use and retain these payments as a lo» r�rve in lieu e�f mortgagc in,urance. Loss re.,erve y,`c �•:, ,_ � .
<br /> � pa}�ments may no lc�nger be requited. at the option of I.ender,if mortgag.e ia+urance coverage�in the amuunt and for the period �'����`.:
<br /> � r`: that [.ender requin.�►provided bg an insumr approced hy Lrnder again becomes available:uid i.obtaincd. Bura�wer shatl pay �`.'*- � ;�• -.fY
<br /> � • the premium.�mquireA to maintaiumortgage insurance in effect.or to provide a loss rc�erve.until thc reyuirement for mortgage •
<br /> ` �. ` inyurance end�in accordance with any written agreemeat beriveen Borrow•er aiW Lender or applirable la���. ,. ;, ..:'�� .
<br /> - '� . _ 9. Inspectton. [xnder or itti agent may nuske r�wnable enMc+upon and inspections of the Praperty. Lxnd.r shall give � � � �
<br /> � ' � $ormwer noticY at tfie iime of or prior to a�inspection sperifying reasonable cause fc�r the in�pe�Kion.
<br /> � . 10. Condemnation.The pnxeeds of any aw:ud ur ctaim for damages, direa�t or conseyuential. in a�nn�ctiun with any ' ', `•�'
<br /> • wndemnatiun or uther taking of any pan of the Piroperty, or for �-unveyance in lieu of condrmnation.:srr hereby ussigned and " '� r r
<br /> '�; . • ` shall be paid to Lender. - . - : .
<br /> ' In the event of a total taking of the Property.the prucced�>�hall be applieJ to thr�ums tiecured by t6u Security In>trtsment. ,
<br /> -- _ w•hether or nut then due, w•ith any exces+ pdid Iu Borro«cr. [n the e�•em of a p:uti:il tal�ing uf the Pmpeny in �chich the fair _ .
<br /> -=_. . - market ��atue of the Propetty immc�Jiately hetiire the taking is ec}ual to ur gr�ter than the amuunt of thc�ums�ecttrai by this _
<br /> ` Seturity Instrument immediately befoce the talcing, unleas Bom�wer and Lender uthensise sgrc;e in w�riting,thc�um,�ecured by
<br /> � - � this 5ecurity Instrument shall be reduced b�• the :im:iunt of th� proreeds multiptied by� the fi�llowing fraction: ta)the total�
<br /> � � - � amount of the sums secwed immeJiately hefore the taking, divided by Ib� the f�r mnrket value of the Property immediately ,..
<br /> _ ' . , _ before the tal:ing. Any balance shall be paid[o Borrouer. In the event of a par[ial takiag of the Property in which the fair 0 , - . �
<br /> ' - martce[value of the Property immediately before the taking is less than the amount of the sums secured immediately before the� � t °
<br /> t:ilcing, unles�Horrower and Lender uiherui,e agree in tivriting or unie+s applicable !aw otherwise provides. the procceds shallC, s : •
<br /> _ � be applied[o the sums secured by[his Sexwity Instrument whe t her or not t he sums are t hen due. _
<br /> � � !f the Pruperty is abandoned by Borrawer.or if,after nnuce by Lender to Borruwer that the wndentnor offers to make an� - c:,��'
<br /> � award or �enle a rlaim for damagcs. Horroxer fails to respand to Lender within 30 days after the date the notice is g'tven. .
<br /> � • �. - . Lender is authorized to collect and apply the proceeds,at its apuan.either to restoration or repair of the Property or to the sums�
<br /> ' • sexured by this Securiry I�strament,whether or not then due. • . . _' �
<br /> ' Untess Lxnder and Borrower otherwise agrce in writing, any application of pmceeds to principal shall not extend or :.?�°:�
<br /> % ' ✓ � postpone the due date of the monthly paymen[s referred to in paragraphs 1 and 2 or change the amount of such paymenu. �,,;, ."�.
<br /> ;f," , ., 11.Borrower Not Released;Forbearance By Lender Noi a Waiver.Extension of tl:e time for payment or modificaaon •��'�___
<br /> � • ' � of amortization of the sums secured by this Security imtrument granted by [.ender to any successor in interest of Borrower shalt . e: �;-
<br /> �� � not operate to release the liability of the original Bnrruwer or Borrower's successors in interest. Lender shall not be requered to :'.�-;
<br /> - . �� commence proceedings against any s�ccessar in interest or refuse to extend time for payment or otherwise modify amoctization , ,� �_
<br /> ;''. • of the +um� secured by tiiis Security (astrument by reason of any demand made by [he original Borrower or Bocrowu's ,�
<br /> ?�' , , successors in in[erest. Any forbearance by Lender in exercising any righ[or rem2dy shall not be a waiver of or preclude the r�
<br /> S�` ;� � exercise of any right or remedy. ; � -
<br /> . • nd Se�eral Uabllit • Co-si ners. The covenants and agreemcnts of this , �'"'�'i�`
<br /> 12. Successors and Assigns Bound; Jo�nt a y, g Y,°�..;,�,-•�;
<br /> , , . - Securi[y Instcument tihall bind and b�nefit the successars and assigns of Lender and Borrower, subject to the provisions of _• ,:., LtL..:,`.•`
<br /> paragraph l7. Borrower's covenan�s and agreements �hall be joint and several. Any Barrower who co-signs this Securiry .:`? --�
<br /> . ' Instrument but does not execute the Note: la) is co-signing this Security Instrument only to mortgage. grant and convey that `.. x
<br /> ' . • B o n o w e r',i n t e r e s t i n t h e P r o p e rt y u n d e r t h e t e r m s o f t h i s S e c u r i t y i n s t r u m e n t:(b� i s n o t p e r s o n all y obli gated tn pa y the sums .= A,�00
<br /> � .�.'„r,`=
<br /> " secured by this Securiry Instrument:and(c)agrees that l.ender and any ather Barrower may agree to extend, modify,forbear or `� �
<br /> � make any accommodatians with regarJ to the terms of this Seeurity tastrument or the Note withaut that Bonower's consent. "�' ''''��
<br /> ;,:�.
<br /> � 13.I.oan Charges.If the loan secured by this Security Instrument is subject to a law which sets maximum loan eharges, '� . . �;:�;,'
<br /> � . � and that law is finally interpreted so that the interest or��ther loan charges collected or to be collected in connection with the t. . ,`,}_
<br /> .;�`.
<br /> ._ loan exceed the permitt�l limits,then: (a)any sueh loan charge shall be redueed by Ihe amount neeessary ta reduca ihe Ft+,c�rge . , .;;. •
<br /> � to the permitte4l limic:and(b1 any sum,already collectetl from Borrower which exceeded permitted limiu will be refunded ta . •.'.=_,�`:
<br /> � Bc�nowe�. L.ender may choose to make this refund by ralucing the principal owed under the Note or by making a direct • •.=`�"=�
<br /> � , payment to Borrow•er. If a refunJ reduce, principal, the reduction w�U be treated as a partial prepayment without any - ,=�=•-
<br /> ' prepayment charge under the Note. . �
<br /> 14.Notices.Any notice to Horrower provideJ for in thi�Sc:curit Instrument shall be iven b deliverin it or b mailin '-'�
<br /> Y S Y S Y g • '�;_
<br /> ' it by first cla+s mail unless applirable law reyuires use of another methc�d.The notire shall be directed to the Propeny Address , • , ,;.�
<br /> ar any other addretiti Bonawes designateti by notice [o Lender. Any notice w I.enJer shall be given by first elass mail to . ;;;;;_
<br /> Lender's addre.rs stated herein or any other address Lender de�ignates by notice to Borrower. Any notice provided for in this ... •,:�;,_�
<br /> . �; Security Inrtrument shall be dcemed to have been given to Borrower or Lendcr when given a�pruvided in this paragraph. � _ -
<br /> I5.Governing Law; Severabitity. This Sccurity Instrument shall bc govemed by federal law and thc law of the �� _
<br /> ' ; jurisdiction in which the Property ir located. In the event that any provisian or clause of this Security Instntment or the Note • . ;;#:
<br /> � `conflictti with applicable law,such conflict shall not affect other provis��ms of this Security Insuument or the Note which can be
<br /> � � . ; given effect without the conflicting provitiian. To thi,end the provisions of this Security Inctrument and the Note are declared • •
<br /> � . • ta he severable. � . '
<br /> . 16.Borrower'ti Copy.Bonuwer tihall be�iven one confarmed copy of the Note and of this Security Intitrument. � : �
<br /> 17.Tran.�fer of the Propert�•or a Bencfjcial interest in•Sorrower.lf all or any pan of thc Propeny ar any interest in it . . :� �'�
<br /> � iti sold or tranyfcrrcd(or if a benelicial in[ere�t in Banowcr i�sold or[rantiferred and Borrotiver is not a natural person)without -
<br /> ���,;. Lender'� prinr writtcn consent. Lender may. at itti option, requirc immeciiate payment in fu0 of all �ums secured by this : '. � ,
<br /> � �. Security M�trument. However,thi�option+hall not be exercised by l.ender if exercise is prohibited by fecieral law as of thc date :
<br /> � . of this 5ecurity In�trumcnt. �
<br /> " � If l.ender exerci,e+thi���ption, l.ender.hull give 8orrower nutire of acceleratiun. The natice tihall provide a period of nat .
<br /> . . � Ie��than �0 dayti from the date the noticr i+ delivered or maileJ within which Borrower must pay all +ums tiec:ured by this •.
<br /> ' 5ecurit�• Imuument. If Burrower failti to pay the�e+um.pnor tu the expiration of thiS perc�d. Lender may invoke any rcmuiics
<br /> ". ,, permitted by thi.Srcurity In�trument with��ut funher nutice or demanJ un Borruwer. . �
<br /> �. , . 1$. 8orro�rcr'ti Ri�ht to Reinstate. If Burrowrr meety certain conditium. Burruwer �hall have the right ta have .
<br /> cnfi�rccmcnt of thi� Sccurity Imtrument Ji�continucd at any timc prior to thc carl�rr uf: /a) 5 day� tor tiuch othcr perit�d as • . '
<br /> applicable law may specify for rcinvtatemcnu hrfure tialc nf thc Pr�.perly punuant to any powrr i�f �ule containcd in Ihi� . .
<br /> Security In.lrumrnt;nr Ib)entry of a juJgment enfurciiig thi.Sccurity Intitrument. Thotie cunditions z�re that&�rrower: (a)pay�
<br /> � LenJer all �umy which ihen woutJ he due under thi+5ecurity Instrument anJ the Note a� if no acceleraeion had ��s�curred:(b)
<br /> � � curey any dcfauli ��f any uthcr cut�eyiantti or�greements: �r� pays aU expe���er inrurted in enforcing this Security In,trument. . . .
<br /> '� • , inrluJiug, hut not limitcd tc�. rcationublc auc�rncy�' frc�: and (d)takc+ �uch actiun a.Lcndcr may rca�onably rcyuire tu assurc •
<br /> • • il�at Ihe licn uf thi, Srcurity In�trument. LcnJer'.rightti in the Property and Borcuwer'�obligation tu pny the wmti secured by _
<br /> thi, Security� Irotrumrut ,liall r�mtinuc unchangeJ. Upun reinstatement by Burrowcr, thi� Secunry Instrument and the �
<br /> • • ubligatium xcurcd herchy �hall remuin fuUy effrctivc ati d nu acceler,�tion had uccurrcd. However, thiti right to reintitate shall � _ .
<br /> ' � nut.�pply in thc rasr ul acccicratinn undcr paragrapl� 17.
<br /> 19. tiulc uf tiote: Chany�c oP la�uu tiervicer. The Nutc crc a partial intcrctit in thc Note Itogethcr a�ith thi� Secunty
<br /> .. �. , I Imtrumcnli may hc.uld unc ur murc timcti�vith��ut priur nn�icc to$�,rc��wcr. A vdr roay re,ult in a changc in thc emiry(knuwn . . .
<br /> . ,i,thc "I.o.�n Scn�iccr"�that r��llerh rnnnthly�p:rymcntti dur unJer tlm Nute and thiti Sccurity lntitrument.Thcm�►I�u m.ry be one
<br /> _, . „r mnrr cl�ange�„1 thr I�,an Srrtiirrr uurrLd��d tn a+alr uf the:�iu�c. IF thrrc iy n rhan�.e„(thr la,an Sen•icer. Borruurr will be '.
<br /> . givcn wriUcn uoticc u(Ihc nc�mgc m accurdan�r with pcuagraph I�ahnvr anJ appli�ahle law.Thc nuticc will �,tatc thc namc anJ .
<br /> ' � adilrr•.u(thc nc�v IA)illl ticrv�crr and Ihr aJJrc„ h� «�Niclt p.rymei�l� .huulil hc rnadr. 'Phc nulicc WIII BI�U l'OJl�:llll 811�I othcr .
<br /> ' infnrmation rrywrrd by�applicahlr laa•.
<br /> 211. Hai.urdou.tiubctunee�. F3urru�err ,liall nn: cau.r ��r p�rmit the pnuner. u.r. Ji�pusal. ,tor.ige. or relea�e of any ..
<br /> � � Haiar�„u� 5ul,.�ancr, „n ur m thr Prupertc. Borrn.�rr .hall unl clu. �ior :lII1R4 a�i}onr rh� tu J�,. anything affcrhng the
<br /> . � {'ruptrl� Ih:n i. in �u�l.mun ut am f�.m�n,nmcntal Lcns t'hc prrccdinr t�u� .rntrnr.� .hall rn,t apply t„thr pn�cncr. u�r. or .
<br /> . .I��raNe un thc I'ruprrt} �,I�mall yuanuur�nt H:�iarJ��u,Suh.t:ux�•� t��.�t:ur iciirr:dly rrr�,rniird In hc appn,prtatc t��n��ttnal • -
<br /> � rr.�Jcnti.d u,r,.m�f 1��m;umrnanrc��f thr Prnprrt} -
<br /> • , . ' Form 3028 9�90 �
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