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<br /> r • If Lender roquired martgage insurance as a candition qf tnakiag the loan secured�6y this Security Instrument.� - -- ', ,
<br /> s � . Horrower sha.if.PaY the ptsmiums:�equired tt�maintaia ih�insur�ace in effect mHi!such time nsthc rcquirerrtsat for thc � ° _ -
<br /> , - 1 . - `insurance taminates in accordancc�a�ith�pnower's and Lendu's written agr`eement or applicable law. : :
<br /> , � �- s. I�etk�. �.ender or its a�ent miy malie reasonable entries upon a�nd insp�ctions of the Pmperty.Lender • -
<br /> �� ' shall give Hortower ttotice at the time of or prior to an iaspoction,specifying reasonable c�use for the inspeetion. ,
<br /> � . �. . . . 4 Ca�ie�iftio�. The proceods of s�ny award or claim for damages,direct or consequential.i�canncation with � �
<br /> ` ; �� i�ny c�mnition ar other talcing of any patt of thc Propeity.or for ccyrvayance in.lie�of condemnarion,are hereby
<br /> ,� . �sisned and shaU be paid to Lendes.
<br /> tn the event nf a total taking of the Propetty.tbe procads sha116e applied to the sums secwed by this Security `
<br /> F � .Instraimeui.whether ar not then duG with arry excess paid to Borrower.In the event of a partiat taking uf the property. , �
<br /> � { ; � ui�kss Bonawer and Lender other�vise agree in writing,the sums secnral by this Secarity Insmimeat shaA 6e rsduced 6y ,
<br /> � , the amount of the proceeds mnitigk�by the following fraction:ia)the total amourit of tha swns secutad immediatefy
<br /> � �iefore the taking,divided by(b)the fair maslcet value of�the Property immodiately before the taking.Any balance shaA be ,
<br /> px�to Horrqwu: :
<br /> _ � � lf tha Property is abandoned by Borrawer,or if,afteR notico by Lender w Banower that the wndemnor o}fers to " � .
<br /> j ma�e an:ward or settle a ciaim fnr damages,Bocro�ta fails to respond to Lender witbin 30 days after the date the notrce is
<br /> ; � � given,I.ender is antliorizod to ca]kct and apply tbe proceeds.at its eption,titbcr to restoration or repair of the Property ar
<br /> to the sutas securod by this Security Instr�ment,whether�r not then due.
<br /> � Unless Lender and Bonuwer othecw�ise agree in writing,as�y application of proceeds to priacipal shall not extend or
<br /> � � � , postpoiie the due dau of the monthly payms�ts refernd to in paragraphs 1 and 2 or change the amuunt of such payments. �
<br /> id Borsowear Not Rei�ued; Forbeir�nce�By L�ader Not s Wdver. Extension of the time for payment ot
<br /> � madi&cation of amortization af the sums secured by t�Socurity Instrument granted by Lender to any succsssor in , �,
<br /> ` ! intetest of Borrower sbaU ttot operate to retease the liab�ity of the ariginal Borrower or Bonower's succasors in intaes� '
<br /> � L.endtr shal{not be roguised to commence proce.edings against��.successor in interest or refuse to eatend time for
<br /> � psytnont or otherwise madify amortization a�u the sums sxurec!@g��i:s Security Instrument by reason of aay deinand made ' .
<br /> .� ; by the oripnal Barrawer or B�su�wcr's successors in int�:ftng�'t�r�'searunce by I.ender in exe`cising any right or remedy ,
<br /> , - shall not 6e a waiver of or precJ.�e the exercise of any ri���i remedy.
<br /> �', �! . 11. Srccettora sad�Aas?ges Houed;Jolnt aad Sevenl LiabUity;Casigeers The covenants and agramrnts of • -
<br /> .� � �. .� this Security Iastrument shalt bind and be���the successars aad assigns of Lender and BonoRer,subjeet ta the prov'ssions �. i�.:
<br /> j � of�ph 17.Horrower's covcnants anc#agreements shall be joint and seveml.Any Borrower who co-signs this Security ..-,
<br /> Instrument but does not execute the Note:(a)is ca-signing this Se:curity Instrument only to mortgage,grant and convey '
<br /> � that Bonower's interest in'the Praperty under the terms of this Security Instrument;(b)is not personally abligated to pay �
<br /> i the sums sxured by this Security Instn�ment;and`(�)agrees that Lender and any other Barrower may agree to extencl, � � . `?� '�-
<br /> � modify,forbear or make any accammodations with regard to the terms of this Security Instrument or che Note without . . ,
<br /> that Borrower's consent.
<br /> � 12. Uan(�argea. If the toan secured by this Security Instrument is subject to a law which sets maaimum toaa
<br /> � charges, snd thst 1aw is finaltg interpreted so that the interest or other loan charges collected or ta be collected in ,
<br /> eonnection with the loan excetii the permitted limits, then:(a)any such Ioan charge shall be reduced by the amouni � �
<br /> necessary to reduce the charge to the permisied l'imit;and(b)any sums already collected from Borrower which excee��� }-
<br /> � permitted limits v�?l be refunded to Borro*�er. Lender may choose t�make this refund by reducing the principai�v�•�d ?�
<br /> . under the Note or by making a dirert payment to Borrower.If a resun�reduces principal,the reduction will be treatcd as a •
<br /> , pa»ial prepayment without anp prepayment chazge under the Note. �
<br /> 13. I.egislatton.ARectiug Lender's 1tig6ts. If enactment or eapirat:�n at applscable laws has the effect of.
<br /> ' � rendering afiy protision of the Note or this Sccurity Instrument une�.+�a�rceable according to its terms,l.ender.at its option,
<br /> ( nnay require immediate payment io full of all sums secured by tba�s Security lnstrnment ae�may invoke any remedies
<br /> ! permitted by paragrapb 19.lf I,ender eaercises this option,Lender shall take the steps specified in the second paragraph of ,
<br /> '� para,��a�h 17. ..
<br /> 24. Notieea. Any notice to$orrower provided for in this Security lnstrument shall be given by de;ivering it or by
<br /> � mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed ta the ;`�
<br /> � Property Address or any other address Borcower designates hy notice to I,ender.Any notice to Lender shall be given by
<br /> � � first olass mail to Lender's address stated heTein or any other address Lendcr designates by notice to Borrawer.Any notice
<br /> � pravided far in this Security lnstrument sh�ll be dexmed to have been givcn to Borrower or Lender when given as provided
<br /> � � in this paragraph.
<br />� . � �S. Go�erning Lw;Serrnb�litq. This Security Instrument shall be governed by federal iaw and the law of the �- �--- -�
<br /> � jurisdiction in a�bi:�the Property is toeate.8.In the event that any provision or clause of this Security Instrument or the
<br /> Nute conflicts ait�r applicabte zaw,such c�ntlict shall not affect ot6�er provisions of this Security lnstrument or the Note
<br />, i which can be given effect wi4hnui the cantlicting�rovisipn.To this end the provisions di this Security Instrument and the
<br /> i �� Note ase declared tO be severable. .
<br /> � 16. Botrower'a Copy. Borrower shall be given one conformed copy of the Note and of'this 5ecurity tnstrument.
<br /> � I1. Tr�a9Cer ot the Property or A Beneflcial Ynierest tn Bo�rower. lf all or any part of the Property or a:�y
<br /> � interest in it issold ot transferred(or if a beneficial interest in Borroccer is snld or transferred a�t3 Horrower is not a na�ura}
<br /> ' � person)without Lender's prior written con§ent.Ler.d�r snay,at its optian,reyuire immediate payment in full of all sums
<br /> ; �secured by this Security Instrument. �{owever,this o�tion shall not Ue exercase.3 by Lender if exercise is prohibited by.
<br /> � � federal I�va as of the date osthis Security Instrument. ----«__-
<br /> ' If Lender exercises this optian,Lend:r shall give�orrower notice of acceteiation.The notice shal!provide a per� •
<br /> of not less than 30days frotn the date the nctice is delivered or mailed within which Borrawep cnust pay al!sums secured by
<br /> - .� - ` stses S�cesrity tnssrument.lf�rrnwer fsil�:€s�SSy ttsese sums pri�r te the experatien oF tts�s pes:oc�,Lgader�nay invoke any . i _
<br /> � remedies permitted by this Security.lnstrument without further notiCe or demand an Borrower. � 1
<br /> . . l8.Borrower's t�ight to[telnstate. lf Bcsrrower meets certain conditions,norrower sha13 have af.�right to have , '
<br /> , � enforcement of'this Security Instrument discantinued at�ny time prior to the earlier oi:(a)5 days(or such other period as �
<br /> ' appticable taw may specify for reinstatement)before sate of the Property pursuant to any pptver of sale contained in Ihis �
<br /> � Security Instrnment;or(b)entry of a judgnent enforcing this 5ecurity lnstrument.7'hase conditions are that Borrawer: .
<br /> : (a)p�ys Ltrtder all sums which then would be due under this Security lnstrument and the N�te had no acreleratian
<br /> � accurred; (b)cdres any deFault of any other cavengnis or agreements; (c)pays all expenses inruned in enfnrcing this . �
<br /> " Security Instrument,ineluding,but not limited ta,ceascmable attorneys'fees;and(d)takes such ustivn as Lender may �
<br /> � � reasor+ably require to assure that the,iien of this Security Instrument, l.ender`s rights in the ('roperty and Horrower's , �,
<br /> obligation ta pay the snms secured by this 5ecurity Instrument.shAll cantinue unchanged. Upon reinstatement by n, _ �.
<br /> � � 8orrower:-t�is 5pcurity lnstrument and the abligations�secured hereby shaft remttin Pu11y effertivc as iPno acceleration had � �- -
<br /> accurred.However,this right to reinstate shaU not�pp�y i�the case nf acreleration under paragr�phs 13��r 17.
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