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<br /> payments may no longer be required.at d►e option of Lender,if mortgage insurance coverage(in the amount and for the perind . �` ..A
<br /> , that I.ender requises)Provided by an insurer approved by Lender again becomes available and is obtaiaed.Borrower shall pay the . '
<br /> p��nmc required to maintain mortgage insurance in effest,or t,�provide a loss reserve.untH the requirement for murtgage Tt
<br /> � � insurance ends in accordance with any wriue�agreement between Borrower and Lcnder or applicable law. Leader shall ve • `
<br /> 9.InspecUion. Lender or its agent may make reasonable entries upon and inspactions of the Property. � . • --
<br /> Borrower natice at the time of or prior to an inspection specifying reasonable cause fo�rhe ins�pection. . . . . �, :
<br /> 10.Condemnation. The proceeds of any award or claim for damages,direct or co�sequential. in connecuon with any ;
<br /> condemnation or other taking of any parc of the Property,or for conveyance in lieu of condeannadon,are hereby assigned and E , ' -
<br /> sha}1 be paid to L.eander. hed to the sums secured by this Security Instrument, � , , ,
<br /> In the event of a total taking of tha Property,tt►e proceeds shall be app� ui which the fair market � � '
<br /> .��;e�.wr���rhPn�ine.arith anv excess paid to Borrower.In the event of a parti�al taking of the Praperly� `�
<br /> . value of the Pcoperty immediately before rhe takiag is euual w or greater tnan me amouni uf u�e s�u;,s�..:,.w b.,�'';�c"-"*"" =.—_-- - -- , _
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<br /> Instrument immediately befare the taldr►g, unless Borrower and Lender atherwise a�ee in wripng,the sums secured by this ; . . "
<br /> gecaaity Insmiment shall he reduced by the amount of the proceeds raaluPlied by the following fracaon:(a)the total amount of ; �
<br /> � the sums secured immediately before the taIang,divided by N) the fair marlcet value of the Property immediately before the _ '_ '_��
<br /> taking.Any balance shall be paid to Borrower.In the event of a partial taking of the Property in whi,ch the fair ma�lcet value of the ; �. .
<br /> � .`ri.
<br /> propeaty unmediately before the taking is less than the amount of the sums pured 'unmediafely before the takin�to the � '
<br /> � Bosrower and Lender otheavvise agree in writing or unless applicable law otherwise rovides.the proceeds shall be app' ; • ' , •
<br /> • sums secured by this Seauiry Inswment whether or na:the sums aze then dus. . ' :��`- '
<br /> i T f t he p ro p e r c y is a b a ndoned b y Borrawea,or if,aftr�r notice by I.ender tn Borrower that the condemnor offers to make an �� •.�:
<br /> � � award or seule a claim for damages,B�rrower fails tn resP°nd to Lender within 30 days after the date the notice is Biven,LeAder . _ �.':_
<br /> � � is authorized w collect and apply the proceeds,at its option,either to re,stotation or repair of the Property or to the sums secured ,_ _--
<br /> • .�: �
<br /> ! � by this Security InsUniment,whether or not then due. .
<br /> � Unless Lender and Bo:rower othera+ise ag�ce in writin8,a�►Y aPPlication of praceeds to principal shall not extend or postpone _
<br /> ' ' hs 1 and 2 or change the amount of such payments• • ;�r:�'�4_ �
<br /> the due date of ths monihly paymeats referred w in ParagraP �.-::_.
<br /> ' 11.Borrower Not Reteased;Forbearaace BY Lendea'Not a Waiver. Extension of the time for payment or modification 1 -
<br /> of amortiration of the sums secured by this Security Insuument gcanted by Lender to any successor in interest of Bomnw�shatl f • :,.<� .. �S :: �
<br /> g an • .
<br /> not operate to release the IiabilitY of the original Bormwer or Borrower's successors in inte.rest.I.eaider shall not be required to i ' �,
<br /> ainst any successor in interest or refuse w extend vme for payme�t or otherwise modifY amoriization of ` .�' � -,: :M",_
<br /> � commeace pmceeclinSs a8 ' ��'�:�' ;;
<br /> �e y.����by t his gecurity I n s t m m e n t b y r e a s o n o f a n y d e m a n d m a d e b y t h e ori g i nal Borrower or Bomower's successors , .�'
<br /> in interest,Any forbearance by Lender in exercisir►g anY right or remedy shal�cot be a waiver of or preclade the exercise of any � �g��.;s .
<br /> right or rernedy. � i: #� �
<br /> IZ.Successors and Assigns Bound;laint and Several LiabiL'ty;Co-signees. '11�e covenants and agrec,menu of this j
<br /> . ��; �
<br /> S�ucity Instrument shall bind and b�efit the successors and assigns of I.endex and Boaower, subject eo the provisions of _ �:.,:� ,. �::.
<br /> P�-aph 17. Burrower's cove,nants and agreements shall be joint and several. Any Borrower who ca-signs this Secwiry . �.i;
<br />� Insprument but does not e�cecute the Note: (a) is co-signinB this Secur►tY Instnunen�only to mortgage.grant and convey that , � f
<br /> . . :.'' ,�.�..
<br /> Boirower's intaest in ihe Properry under the tenns of this Security In.ttrument;(b)is noi pe�sorally obligated to pay the sums ��.
<br /> ����
<br /> secured by this Secwrity Insuumen�and(c)a8iees that I.ender and any othcr Borrower may agree to e�ctend,n►odifY,forbear or .
<br /> ' ' make any accommadations with regard to the terms of thi�Security Instrument or the Note without that Borrower's consent �
<br /> � � 13.Loan Chargea If the loan secured by this Security InsuumeAt is subject to a law which sets maaimum loan charges, _ �:�_---
<br /> and tha�laa+is finally interpreted so that the intcxest or other loasi charges colle�ted or to be wllected ia connec6on with the loan - -. ,::-�-.� . —
<br /> exceed the permitted limits.then:(a)any such loan charge shall be reduced by the amount nesessary w reduce the charge w the
<br /> iued limi and )an sums atready colleaed From Bonower which exceeded penniued limits will be refunded tn Borrower. �.�. ! -'�='° �
<br /> pertn x N Y '�
<br /> • I.endea may choose to make this refund by reducing the principal owed under the Note or by maldng a direct payment to . . ;.,.�ti.W*�'. `
<br /> Boaower. If a refnnd reduces principal.the reductiAn will be treated as a Panial PrePayment without any prepaYment charge : � •
<br /> . under the Note. , .-�,.
<br /> 14.Notdces. Any notice t,o Borrower provided for in this Security Insuument shall be given by delivering it or by mailing it , ��
<br /> � . by&st class mail unless applicabie law requ'ves use of another method.'17ie no6ce shall be directed to the ProDert)'��d�s � 'A`�".
<br /> any other address Brnrower designates by norice w Lender.My notice to I.ender shall be given by first class mail �
<br /> address stated herein or any other address I-ender designates by nodc�to Borrower. Any nouce provided�or in this Security � -y , - - _
<br /> � Instnunent shall be deermd to have betn 8iven to Borrower or Lender when given as�,avided u�k'zis pa^aga.�_. =_-_---._---.�--
<br /> � IS.Goveramg Luw;Severab�7ity. This Securiry Insuument shall be govemed by federal 1aw and the law of the •
<br /> ' jurisdicdon in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note _Y
<br /> confli�ts with applicable law,such conflict shall not affect other provisions of this Security Instrument ar the Note which can be ,
<br /> " given effect without the contlicting provision.To this end the prnvisions of this Security Instrument and the Note are declared to . _
<br /> be severable. � � . ___
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