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<br /> payment+may na longer be required,at the aption of I.ender.if mortgage m�uranre ro�erage lin tlTe amount and for�'e�p�enod •_��
<br /> that Lender reyuire,)pravided by an insurer approved by Lender again bctome+available and is ubtained. Borrower s h a l l pay ' �
<br /> _ the pmmiums re4uired ta maintain martgage insuranre in effect,ur to provide a loss reserve,until thc requirement for mortgage " .
<br /> in.urance cnds in acrordance�vith any written agreement between BorroEVer a�id L.ender or appli�:able law. ._���W
<br /> 9. Iaspection. Lender ur its agent may make reasonable entries upon and impectinns uf the Property. Lender shall give • • - •^ ` `
<br /> B��rrower notice at the time of or pnor to an inspection specifying reasonable r.ause for the icup�xtiun. , , •__t :_ _ _ -.
<br /> �,� 10. Condemnatton.The proceeds of any award or claim for damages. direct or conseyuential, in connection with any '` `�,` - °;
<br /> condemnation or other taking c�f any part uf the Property,or for conveyance in lieu uf candemnation,are hereby assigned and ,� � # _
<br /> shall be paid to Lender. . . ,
<br /> � In the event of a total taking of the Property,the proceeds shall be appliect to the sums secured by this Security Instrument. , � `
<br /> , '�.
<br /> whether or not then due, with any excess paid to Borrower. (n the event of a partial taking of the Property in which [he fair , ';
<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 /> Security Instrument immediately before the taking,unless Borrower and Lender otherwise agree in writing,the sums secured by ::-�-�F,,.;;_. _
<br /> ' - this Security lnstrument shall be reduced by the amount of the proceeds multiplied by the following fraction: {a) the total , - - .�_�_°_=
<br /> ;`�:-
<br /> . amount of[he sums secured immediately before the taking, divided by(b)the fair mazket value of the Property immediately _.• ;,-; ..�-
<br /> before the taking. Any balance shall be paid to Borrower. ln the event of a panial taking of the Property in which the fair ' "� :���_
<br />• �::._—��
<br /> market value of the Property immediately before the taking is less than the amount of the sums secured immediately before the i--�=�
<br /> , '�ri�:'�'•
<br /> ." taking, unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides,the proceeds shall � __ ,�
<br /> '. be applied to the sums secured by this Security Instrument whether or not the sums are then due. � �'���
<br />- If the Property is abandoned by Borrower,or if, atier notice by I.ender to Borrower that the wndemnor offers W make an • '� -�
<br /> �.=���--,-_
<br /> award or settle a claim for damages. Borrower fails to respond to Lender within 30 days after the date the notice is given. r��_�_
<br /> ��.
<br /> " Lender is authorized to collect and apply the proceeds. at its option.either to restoration or repair of the Property or to the sums , � ze�s�;�._
<br /> ' secured by this Security Instrument,whether or not then due. • � �����
<br /> Unless Lender and Borrower othenvise agree in writing, any application of proceeds co principal shall not extend or �. . � ��:
<br /> postpone the due date of the monthly payments referced to in paragraphs 1 and 2 or change the amount of such payments. : `
<br /> � 1 1.Borrower No t R e teas e d;For bearance By L en der No f a Wa i v e r.E x te ns i o n a f t h e t i m e f o r p a y m e n t o r m o d i f i c a t i o n �,'���, ';�t-.:,:
<br /> of amortization of the sums secured by this Securiry Instrument granted by l.ender ta any successor in interest of Borrower shall '��j- '*. ��R��
<br /> �`� not aperate to release the liability of the original Borrower or Bnrrower's successors in interest. Lender shall not be required to � . •.� '% ; • �;: , �
<br /> ��f commence proceedings against any�uccessor in interest or refuse to extend time for payment or othenvise modify amortitation .. � ..
<br /> <'••r•.{•'-
<br /> of the sums secured by this Security Instrument by rea�an af any demand made by the original Borrower or Barrower's - •.. ��,��• '`•
<br /> successors in interest. Any forbearance by L.ender in eaerci,ing any right or remedy +hall not bc a waiver of ar preclude the ` `'�`� � �
<br /> , exercise of any right ar remedy. .
<br /> 12. Succe€so� and Assi�ns Bound: doint �nd Severul Liability: G►-signe�v. The covenant�and agreements of this ; ('
<br /> • , . Serurity Instrumem yhall hind and benetit thc .ucceti+un anJ u.tiign.uf l.ender and Borrower. �ubject to the provisians of _
<br /> paragraph 17. Borrower'.r covenantti :�nd agrcement+ +hal l he juint and +everaL Any Burn�wcr whu cu-�igm thiti Security � �.
<br /> lnstrument but does nut execute the Nate: la) i.ru-tiigning thi+ Security Imtrument unly to mort�;uge, grant arid convey that �. •'��'
<br /> , Horruwer'. intere.t in the Property unJer the ternu ut thi, Security Instrument: Ib�i,not perhonally obligatai to pay thc sums -"'�^T""��
<br /> ti secured by this Security ln.trument:and(c)agree�that I.ertder;��d any other Barrower may agree to extend,modify,forbear or �'`��`��
<br /> ;�„�.�.
<br />•- f make any accommadations with rc�ard to the term.r of this Security Instrument or the Note without that Borrower's consent. ---
<br /> .
<br /> � � i 13.Loan Charges. If the loan�ecured by this Security Instrument is subject to a law which sets maximum loan charges, g.y�.Y..::__''�.
<br /> � and that law is finally interpreted so that the interest or other loan chaz�es collected or to be colleeted in connection with the ._
<br /> loan exceed the permitted limits,then: (a)any cuch loan charge shall be reduced by the amount necessary to reduce the charge ��• -
<br /> •����d:.
<br /> to the pem►itted limit:and(b) any sums already collected from Borrower which exceedeei permitted limits wiU be refunded to , -
<br /> � Borrower. l.ender may choose to make this refund by reducing the principal owed under the Note or by makin� a direct . r~T � �
<br /> � payment to Borrower. If a refund reduccs principal, the reduction wiU be treated as a partial prepayment without any •����.:�"
<br /> prepayment charge under the Note. - -_-- - _
<br /> ,,y: :
<br /> 14.Notices.Any notice ta Borrower provided for in this Security Instrument shall be given by delivering it or by mailing •. '
<br /> it b f irst c lass mai l un less a lica b le law r uires use o f anot her met ho d.T he notice s h a l l be direct e d to t he P ro e rt A d dress ' " ���`"� �W
<br /> Y PP �9 P Y �ww�__�._,_._:.�.-_...
<br /> or any other address Bonower designates by notice to L.ender. Any nutice to l.ender shall be given by first class mail to ;.i��;,�,.,-
<br /> Lender's address stated herein or any other address l.ender designates by notice to Borrower. Any notice provided for in this :�"';'A;a;,;. '
<br /> Security Instrument shall be dcemed to have been given to Borrower or Lender when given ac provided in this paragraph. __ - -�� •
<br /> 15.Governin� I.aw; Severabllity. This Security Instrument shall be govcrned by federal law and the law of the � .;96�.�r`:
<br /> , jurisdiction in which the Property is locatod. In the event that any provision or clause of this Security lnstrument or the Note ���• '� �•-yr-=�
<br /> conflicGs with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be "�? ,'"''".''"�`
<br /> .,.:
<br /> given cffect ���ithout the conflicting provision.To this end the provisions of this Security Instrument and the Note a�declared -
<br /> to be severable. � � �°''
<br /> 16.Borrower's Copy.Bonower shsll be given one conformed copy of the Note and of tni�5ecuriry Instrument. , � • � .;. •
<br /> Form 3028 9/90 � �
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