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<br /> paymenu may no longer be required.at the option of Ixnder, if martgage insurancc coverage(in the amount and For the period .,. .
<br /> [hat Lender reyuiresl provided by an insurer appruved by Lender again becomes available xnd i�obtained. Borrower shall pay � '' -
<br /> • the premiums required to maintain mortgage insurance in effect,or to provide a toss mserve,until the requirement fur mortgage �. . z_
<br /> ,j insurance ends in accardance with any written agreement between Borrower and Le�er or applicablc law. , • _
<br /> • i 9. lnspect[on. I.ender or its agent nzay make reasonable entries upon and inspections of the Property. L.ender,hall give , ,
<br /> -,�-j Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspectian. � • . •. . u
<br /> •�.� 10. CondemnaHon. The proceeds of any award or ciaim for damages. direct ur consequential, in��nnection wich any >.�-�--�--,-.--�-�_-T---
<br /> •• � condemnation or other taking of any part of tfie Property.or for conveyance in lieu of condem[tation.are hereby assigned and •
<br /> , s shall be paid[o Lender. _ _ .. `••� -
<br /> ` � F In the event of a tatal taking of the Property,the proceeds shall be applied to the sums secured by[his Se�curity instrument. -�� ���-• It�
<br /> - F-;_..� .''._�;;'`, �
<br /> :. whether or not then due, with any excess paid to Borrawer. In the event of a partial taking of the Property in which the fair : .-_ -+. •;Sq;-
<br /> ..y; _�--�
<br /> - � market value of the Property immediately before the taking is equal to or greater than the amount of the sums secured by this —^ ,� ;,_,,�
<br /> , t Security Inswment immediately before the taking,unless Borrower and L.ender otherwise agree in writing,the sums secured by � .; •�`��'�,�.
<br /> f this Security Insuument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total , : %'�'�.�'a%� �
<br /> . amount of the sums sec:ured immediately before the taking, divided by (b)the fair market value of the Property immediately , . - ' " _
<br /> before the taking. Any balance shall be p�:�to Borrower. In the event of a partial taking of the Praperty in which the fair � °=� . �'.
<br /> • market valae of the ProperEy immediately before the taking is less thart the amount of the sums secured immediately before the ���=-
<br /> ," taking,unless Borrower and Lender otherwise agree in writing or unless applicable law othenvise provides, the proceeds shall ?��' •,r�.�
<br /> �"`'.
<br /> . be applied to the sums secured by this Security Instrument whe[her or not the sums are then due. �.�'_r��
<br /> If the Property is abandoned by Borrower,or if,after notice by Lender to Borrower that the condemnor offers to make an .� . _�'�°-�' ,,:-
<br /> . • r,., • ; :
<br /> awazd or settle a ctaim for damages. Borrower fails to respond to Lender within 30 days after the date the notice is iven. ° �'�'-'��
<br /> g .=�. �rT:::
<br /> Lender is authorized to collect and apply the proceeds,dt iu option,either to�estoration or repair of the Property or to the sums -T";`y�'_`� ' �g.�°
<br /> r
<br /> ` secured by this Security Instrument.whether or not then due. =..=�. �- _____
<br /> �} Unless Lender and Burrower otherwise agree in writing, any application of proceeds to principal shall not extend or � �•..a;f <Y y _
<br /> : postpone the due date of the monthly payments referred to in paragraphs I and 2 or ctiange the amount of such paymenu. .'�{"- __
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<br />' I1.Borrower Not Reteased;Forbearance By Lender Not a Waiver. Extension of the time for payment or modification ___, __ _ -
<br /> of amortization of the sums secured by this Securiry Instrument granted by Lender to any successor in interest of Borrower shall �•
<br /> not operate to release the liability of the original Borrower or Borrower's successars in interest. Lender shaJl not be required to _3��
<br /> commence pmceedings against any successor in in[erest or refuse to extend time for payment or otherwise modify amortization ;;' �;•:;{:•.,
<br /> of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's - ' �
<br /> . successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the �'�+� ������•
<br /> ..�� �
<br /> ' exercise of any right or remedy. '' .'- �," �
<br /> �i. 12. Successors and Assigns Bound; Joint and Several Liability; Co-signets. The covenanu and agreements of this � y4��'
<br /> Security Instrument shall bind and benefit the successors and assigns of Lender and Sorrower, subject to the provisions o f f �
<br /> .a fj ��_.`- ,.
<br /> �� � paragraph 17. Bortower's covenants and agreements shall be joint and several. My Bonower who co-sians thu Secu ry r_
<br /> Instrument but does not execute the Note: (a) is co-signing chis Security Instrument only to mortgage, grant and convey that ,_ . '�'r�_•--'
<br /> _;:�°=-
<br /> Barrower's interest in the Property under the terms of this Security Instrument:(b) is not personally obligated to pay the sums '����
<br /> � secured by this Security Instrument:and(c)agrees that Lender and any other Borrower may agree to extead,modify.forbear or •=; � . �`�.
<br /> make any accommodaaons with regazd to the terms of this Security Instrument or the Note without that Borrower s consent. -:�._`�-
<br /> �� 13.Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges. :�-:-�:-�.�s.--;
<br /> and that law is finally interpreted so that the interest or other loan charges collected or ro be collected in conneciion with the .'�=�`'-=�" � ��- �
<br /> loan exceed the permitted limits, then: (a)any such loan charge shall be reduced by the amount necessary to reduce the charge
<br /> to the permitted limit: and(b)any sums already coliected from Borrawer which exceeded permitted limits will be refunded to __ °�:=�
<br /> " Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by malcing a direct � — _ •-
<br /> �t � f�a •` = _—
<br /> • pa yment to fiottower. If a refund reduces principal, the reduction wiU be treated as a partial prepayment without any ,{.�_._��
<br /> prepayment chazge under the Note. -—'Y•:��'-. -_�-_
<br /> 14.Notiees.Any notice to Borrower provided for in this Security lnstrument shall be giv:n by delivering it or by mailing
<br /> it by first class mail unless applicable law requires use of another method.The notice shall be directed to lhe Property Address '�.;_�.��
<br /> • or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by fitst class mail to ''' ' }.. -
<br /> Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this � ,,P�?'"5'�`'�.
<br /> . Security Instrument shall be deemed to have been given to Borrower or l.ender when given as provided in this paragraph. '�,.�"�"*'���." ' .�
<br /> 15.Governing Law; Severability. This Security Instrument shall be govemed by fedcral law and the law of the �'��'`
<br /> t�• ,,r,;;��:; _
<br /> jurisdiction in which the Property is located. M the event that any provision or clause of this Securiry Instrument or the Note �.��'�.. _
<br /> conflicu with applicable law,such conflict shall not affect other provisions of this Securiry Instrument or the Note which can be , ��.
<br /> given effect without the conflicting provision.To this end the prmisions of this Security Instrument and the Note are declared s .::��-����
<br /> � ta be severabie. °#��� �t-=�
<br /> � 16.Borrower's Copy.Borrower shall be given one conformed copy of the Note and of this Security Instrument. . ' '���'�•�'
<br /> Form 3028 9/90
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