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<br /> � ' . at the optlon of Lender, if mortgage insusattce covetsge (in the amount and for the period that Lender requires) '". ' � , . .
<br /> •, . pmvided by an insurer approved by Lender again becames available and is obtained.BorroNer shall pay the premiums ' �_ . �
<br /> required to maintain mortgage insrrance in effect,or to provide a loss reserve, unti! the requirement for mnrtgage . ' �
<br /> ' i�LSUrance ends in accordance with any written agreement berneen Borrower and Lender or app2icabie law. ' �
<br /> 9.Inspection.Lender or its ageat may mnke reasonable enuies upon and inspections of the Property.L.ender shall ``'� � �`
<br /> . � give Borrower norice ai the time of or 'or to an i��.}ion��y y'f in seasonabte cause forthe inc�1ection. �` . -�- . - --
<br /> .. __`�_r. . �j •"'Y""` "Y^'Y g •�„t� _. .._ - - ,
<br /> � . .���`.� 10.Condemnstion.The proceeds of any award or clsim far damnges.direct or cansequential,in connection Nith .
<br /> . ' . `{ any condemnatian or athet taking of anq part of the Property,or for conveyance in lieu of condemnation,are hareby ��F ��.< �•
<br /> _, assigned and shall be paid w Lender. s'-"-� -
<br />-- � � `�; In the event of a total taicing of the Property,the proceeds shall be applied to the snms secured by this Security �;.=; �:--�•. - T` •
<br /> ,: , . ; lnstrument,whether or not then due,with any eacess paid to Borrowec.In the event of a partial taking of the Property in � :,';,f��':�.�'"��;`�
<br /> • � which the fair market value of the Property immediately before the taking is equal to or gteater tAan tbe amount of the � � • � ���'°--=�
<br /> sums sec�red by this Security Inshvmenx immediately before the taking,unless Borrower attd Lender otherwise agree , ` �=K-`'
<br /> • .' in writing,the sums se�ured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by • � --�_--
<br /> .` � the fallowing fraction:(a)the total amount of the sums secured immediately before the taking,divided by (b)the fair ' _
<br /> ` market value of the Property immediately before the taldng.Any balance shall be paid to Borrower.In the event of a � �. — -
<br /> � partial taking of the Propertq in which the fair market value of the Propetty immediately be�ore the taking is l�s than �� `
<br /> <. the amount of the sums secured immediately before the taking,urile.s Borrower and Lender otherwise agree in writing
<br />-- ' �.<. : or unless applicable law otherwise provides, the pracxeds sha11 be applied to the sums secured by this Security •� :
<br /> : :. .
<br /> Instrument whether or not the sums are then due. ° .�.`� -�-�—�-
<br />,=_. - .�. . .. .... If the Property is abandnned by Borrower,or if,after notice by Lender to Barrower that the condemnor offeis to -�- •-; ''••=` ��
<br /> - malce an award or settle a ctaim for damages, Borrower fails to respond to Lender within 30 days after the date the -- � . : . -----
<br />, .• . ' notice is�iven,Lender is autharized w collect and apply the praceeds,at its option,either w restoration or repair of the ••.��_�
<br /> Property or to the sums secured by this Security Instrument,whether or not then due. .:�,;.^�
<br /> Unless Lender and Borrower otherwise agree in writing,any application of proceeds to principal shall not estend or � � . � •.:::.__
<br /> •- = : postpone the due date of the monthly payments referred to in patagraphs 1 and 2 or change the amount of-such . ''::;x•----
<br /> - • ' • � a ments. . . .. e. -
<br /> p y 11. Honower Not Released;Forbearance By Leader Not a Waiver.Eatension of the time for payment or '`'� ','���-
<br /> � � modificetion of amortization of the sums secured by thia Security Instrument granted by Lender w any successor in �.�•. ,':��._.
<br /> inierest of Borrower shall not operate to release the liability of the original Honowet or Bortawer's successars in �-��''•�'._;:,�_
<br /> � � interest.Lender shall not be required to commence proceedinga against any successor in interest or refuse to exiend =—=
<br /> , time for payment or otherwise modify amortization of the sums secured by ttis Security Instrument by reason of any • � ,;� ��`�,•:�r_
<br /> � . demand made by the.original Horrower or Borrower s successors in interest.l�ry forbearance by Lender in esercising ��:•,y�,,�;
<br /> • �, any right or remedy shall not be a waiver.of or preclude the exercise of any right or remedy. � ':��_
<br /> l2.Successors and Assigns Hound;]oint aad Several Liability;Co-signers.The covenams and agreements � • � ' '���
<br /> `�_°- � -- of this Security Instrument shall bind an3 ben�t the successors and as9igns of Lender and Borrower,subject ta the � ����►':
<br /> " r�.
<br /> . provisions of paragraph 17.Borrower's covenants and agresments shall be joint and several.Any Borrower who co signs � �� ti:,�.;;
<br /> this Security Insirument but daes not esecute the Note:(a) is co-signing this Security Instrument only to mortgage, . • �. �-';�,
<br /> grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; {b) is not � ��' �'
<br /> �.L.,
<br /> `< • �. � ' ' personally obligated to pay the sums secured by this Security Instrument;and (c) agrees that Lendet and any other ' � ::•�,�.'
<br /> '� ' �orrower may agree to estend,modify.forbear ar make any accammodations with regard to the terms of this Security . �#'-
<br /> ;�:�^,
<br /> � Instrument or the Nute without that Borrower a consent. �� . _
<br /> � � 13. l,oan C6arges.If the loan secured by this Security lnsttument is subject�to a law which sets maximum loan . '' .�i�
<br /> ,'' .'. , charges, and that law is finally interpreted so that the interest or other loan charges callected or to.be collected in �:`..,, —
<br /> . wnnection�vith the loan exceed the permitted limits,then: (a)any such loan charg�shatl be reduced by the amount .
<br /> . . necessary to reduce the charge to the permitted limit;and (b) any sums already colleeted from Borrower which • � � . �
<br /> exceeded permitted limits will be refunded to Eotrower. Ixnder may choose to make this refund by reducing the '. . ..
<br /> ' � ; � principal owed under the Note or by making a direct payment to Borrower.If a refund reduces principal,the tedt�ction • • . ' ,
<br /> �vill be treated as a partia)prepayment without any prepayment charge undet the Note. . „
<br /> • � � 14. Notices.Any notice to Botrower provided for in this Security Instrument shall be given by delivering it or by . •
<br /> _. . ' •f m a i l i n g i t b y f i r s t c l a s s m a i l u n l e s s a p p l i c a b l e l a w r e q ui r e s u se o f ano t her me t ho d.T he no tice s ha U b e dir e c t e d to t he �. . •
<br /> . • i Propeny Address or any other address Borronrer designates by notice to Lender.Any notice tn Lender shall be giveit by . �
<br /> first class mail to Lender's address stated herein or any other address L.ender designates by notice to Borrotiver..Any
<br /> � n�tice provided for in this Security lnstrument shatl he deemed to ha��e been given to Bonower or Lendet cvhen givEn
<br /> � � as provided in this paragraph. _ .. , ,.
<br /> �:. •�� f . 15. Governing Latv;Severability.This 5ecurity Instrument shall be governed by federal law and the taw of the . : . . � �
<br /> . i jurisdiction in which the Property is located.ln the event that any provision or clause of this Security Instrument or the •
<br /> ' Note conflicts with applicabla lacv,such conflict shatl not affect other provisions of this Security Instrument or the?�'ote • ' .
<br /> �` ' ' which can be given effect without the confticting provision. 7'o this end the provisions of this Security lnstrument and �� �
<br /> the Note are declared tp be severablc. � ' •
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