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201602366
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Last modified
7/23/2017 10:48:54 AM
Creation date
4/20/2016 1:57:27 PM
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DEEDS
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201602366
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2� 1 ��23�� <br /> par�y tha� awcs Borrower Misce��an�ous Proceeds or the party agai�as�tuhom Borz•avver has a�•ig��t of <br /> actxo��rn�•egard to Miscellaneous Proceeds. <br /> Borro�ver shall bc in defa�.�lt if any a��ian or proceeding, �nrhe�her civi� or criminal, �s begun �ha�, in <br /> Lender's jL�dgment, could resul� in farfei�u�•e af the Prapez-ty or other material impa�rment af Lender's <br /> int�rest in�he Prop��ty or righ�s under this Sec�arity I��str��n��ent. Borrower cax�c��re�uch a defaul�and, <br /> if acce�e�-a�ion 1�as occurz•ed,reins�ate as pro�ided in Sec��o�� 19,by causin�the actzon or p�-oceedin�to <br /> be dismissed with a �1�ling �ha�, in L���d�r's jud�m�nt, prec�udes forfeiture of tile Property o� o�her <br /> ma�erial �mpairme��� af Lez�de�•'s �n�eres� xn �he P�aperty o�•righ�s under this S�curity �nstrumen�. The <br /> proceeds of any award or claim far dama�;es�hat are attr�bu�ab�e t❑ the impai�-ment flf L�nder's in�e�•es� <br /> in the Property are her�by assi�ned and sha11 b�paid�o Lerider. <br /> A1�M�scellaneous Proceeds th�t�re na�appiied�o r�storatian o�•repair af thi Prope�-�y s��a�l be�.ppl�ed <br /> xn�he ordet•provided for in Sectiot�2. <br /> 12. Barrawer Not Released; Forbearance By Lender No�a'�aiver.�xtension of th�t�m�for paymen� <br /> or madxfica�ion of amo��iza�ian of the sums secur�d by�his Securi�y �nstrurnent gra�x�ed by Lender to <br /> Borrovver or any Suc�essor in.In�er�st of BorrQwer shall no�aperate�o�-eleas�the l�ab��zty of Bo�-rovver <br /> or any Succes�ors in �nterest of Borro�ver. Lender shall not be requiz ed to commence pr�ceed�n�s <br /> against any Successo�• in �ntexes� of Barr�wer �r to r�fuse to ex�e�ld time for payment or otherwise <br /> modify amor�i7ation of���e sux��s secur�d by th�s Security In�trumen� by reas�n of any demand made <br /> by the orrg�nal Bo�-rower or any Suc�essors in �n�eres� of Borrower. Any forbearance by Lender in <br /> exe�•cising any �igh� or remedy i��cluding, withou� limitat�or�, Lender's acceptance of payments from <br /> th�rd pers�ns, en�i�ies or Successors in In�e�•es� �f Borrow�r or in amaun�s �ess �han the amount then <br /> due, shall not be a wai�er of or preclude the exereis�flf any r�gh�or rem�dy. <br /> 13. Joint and Se�eral Liabili�y; Co-s�gners; Successars and Assigns �3ound. Bor�ower covenants and <br /> agrees tha�B�rrawer's o�ligat�a��s and liabil�ty sha�l be jaint and se��ra�. Ho�vever,any Barrov�er who <br /> co-signs tllis Sccurity Ins�runaent but d�es no� execute tl�e Not� �a "co-sig�le�"}: �a} �s co-signing this <br /> S�curi�y �ns�rumen� anly �o mortgage, grant and con�ey �hc co�s�gn�r's �nt�rc:st �n thc Prope�-�y under <br /> the te�-ms of th�s Secur�ty Instrument; �b} is not p�rsonaily ob��gated to pay the sums secured by this <br /> S�curi�y �nstrumen�; and �c� agrees �hat Lender and any other Bflz-rower can agre� to extcnd, modify, <br /> ffl�•bear or make any accommodations wi�h regard�o the terms of tl�is Security Instrumen�or th�Notc <br /> wi�l�out the ca�s�gner's car�ser�t. <br /> Subjec� to t�e provisions of Sec�ion �$, any �L�ccessor in �n�eres� of Borra�rer vvho assum�s <br /> Borrov�rer's ob�iga�ians under th�s Se�ur�ty Inst�-umen� in �vri��ng, and is approved by Lender, sha�� <br /> ob�ain a�� of Bo�-ro�rer's ri�hts and be��zef��s under tl�i� Security Ins�r��m�n�. Borro�ver shall no� b� <br /> r��eased frarn Box-r�wer's ab�igations and liabil�ty��nder th�s Security �nstrument unless Lender agrees <br /> ta suc��.rel�ase�n�rz�ing. The cov�nants and agre�men�s of�h�s S�cur�ty In��r��m.ent shall bind�excep� <br /> as pr�vided in Sec��an��}and ben�f�t�he successfl�•s and ass�gns of Le��.der. <br /> 14. Laan Charges. Le��der may charge Bo�•rovver fees far ser�ices pe�•farmcd in cannect�on wi�h <br /> Borrower's defau��, f�r�hc;pu�pose of pr�t�cting L�nder's int�rest in the Property and r�bhts under���.�s <br /> Secur�ty Inst�-ux-nent, �n��uding, but no� limited �o, at�o�-ncys' fe�s, prope�-�y inspectian and ��.���a�ion <br /> f�es. L�nder may colicc�fe�s a��d charges authorized by th�Secre�ary. Lender may��o�charg�fees tha� <br /> are expressly p�at�ib�tcd by this Securi�y�nst�•ument or by Appl�cable Lav�r. <br /> �f the Loan�s subject to a lavv�nrhich sets maxim�.�m loan charges, and tha��a�v�s finally znterpreted so <br /> that the int�rest or o�her loan charges collected ar to be cfl�lected in�onnec�i�n�vith the Loan exc�ed <br /> the pe�.-mi�ted limi�s, �hen: �a} any�uch lnan charge shali be reduced by the amount necessa�y�o r�duce <br /> the charge �o �h� permit�ed I�tnit; and �b) any sums already co�lec�ed from Borrower ujhich excecded <br /> permitted tin�i�s v�i��be refL�nded to Borrower. Lender may choo�e ta mal�e th�s rcfi�nd by red��c�n�the <br /> princ�pal owed u�a�d�r the Note �r by maki��.g a dir�ct payment to Borrower. �f a refi�nd reduces <br /> . 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