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<br /> � ii Lender rcquired.mortgagc insurartce s�a condition of�ing tfic laan secvred by this Securit�r lnstrument, .
<br /> � �8or`towe�sha11 paK the preminms requirtd to mafntain the ibsarance in ett'xt until such time as tl�e cequirement for tht. ,
<br /> ' insurance tesminates in accardanCe with Bonower's and Lendsr's written agreem�enFor applicable law. , < _ � , .
<br /> S. ta�ecttoe. Lcndtr or its ag�nt may malcc reasonabte entries ugon and inspectians of the Prcperty.L,ender � -
<br /> ; shall give.B�n�w�r notice st the ti�nt ofor priar to an i�spcction specifying reasorable cause for the inspectioa.
<br /> ' � 9 Ca�de�eation. .The proceeds of any award oF.cla'sm fot damag�,direct or consequenria?,in connection with
<br /> ` i any condemr�ation or other taking of any part of the Froperry,or for cor�veyance in lieu of condemnation,are herehy �
<br /> , usianed and s1�I1 be paid to Leadet. • � � _ ' `
<br /> � Iti the event of a total taking of the Property,the proceeds shall be applied to the sums secured by this Security
<br /> . i .� �Instrument,whether ar nat tben dne,with any excess paid to Borrower.In the event o4'a partial taking af the Property, _.. ;
<br /> i `. ' . untess Borrower and Lender oiherwise agnee in writing,th�sums secured by this Security Instrument sl�all be reduced by � `
<br /> tbe amount of tha proceeds multiplied by the foAowing frac�ion:(a)iht tots�l amount of the sums secured immediately � •_
<br /> . ; be�are the taking,divjdod by(b)the fair market value of the Prope�ty immediately.before the takinig.Any-balauce shall be � . �
<br /> ; paid to Bomowcr. , r . , . ,
<br /> If fhe Property is abandoned by Boaowei,ar if,after notice by Lender to Bonawer that the candrmnor offrrs to . ��
<br /> make an award ar settte a claia►far damages.Boaower fails ta respond to I,ender within.30 days after the date the notice is
<br /> • � y given,Lender is autharized sto colkct and apply the procoeds.at its option;eithar to restoration or'repair of the Praperty or � , � '
<br /> to the sums secured by ihis Seturity Instrument.whether or noi then due.
<br /> ' � _•Unless Lender and Borrower otherwise a�ree in writing,any application of proceeds to principal shall not eMend or .
<br /> . postpone the due date of ttae monthly payriients referred to in paragraphs 1 and 2 or change the amovnt of such payments:
<br /> " 10. Borrawe� �ot Reteaaed; Forbduraece IIy Lender Not a WAiver. Factensiaa of the �ae for'payment or
<br /> � modification of amortizaai�n of the sums securod by ihis Security Instrument gras�ted by I.endes c�any successor ia
<br /> � interest of Borrower sha11 not operate to retease the liability of the originai Bonower or Bonawer's successars in interest. �
<br /> � � Lender shall not 6e required to comtzttetice proceedings agais�st as�y�successar in interest ar refuse ta catend time far �
<br /> payment or otherwise modify amortization of the sdms secured by this Security Instrument by reason of any demand made
<br /> ; !n the original Bonowerar 1Borrower's successozs in interest.Any forbearance by Lender in exercising any right or remedy �
<br /> snall not be a waivtr'of o"r ps+eclude the exercise of any right or remedy. ' .
<br /> . il.� Succeswrs nnd Assigns Bound;Joint and Several Liability;Co�signers. The covenan�s and agreements of � � '
<br /> this Security Instrument shall bind a�benefit the successors and assigns af Lender and Borrower,subject to the provisions � _
<br /> � of paragraph 17.Borrower`s covenants and agreements shall be joint and several.Any Borrower who co-signs this Security � .
<br /> Instrument but does not exe+eute the Note:(a)is co-signing this Security Instrument only to martgage,grant and convey � �
<br /> that Borrower's interest in the Property under the terms oFthss Security lnstrument;(b)is not perser��l;y obligated to pay � ��
<br /> the sums secured by this S..�curity Instrument;and(c)agrees that Lender and any ather Borrower r.;ay agree to eatend, i =
<br /> . modify,farbear ar make any accommodations with regard ta the terms of this Security Instnzment ar the Nate withaut � �. .
<br /> that Borcowes'scansent. � ' �
<br /> I2. I.au�Ch�.� If'the loan secured by this Security Instrument is subject to a law whicF�sets mazimum loan �
<br /> charges, and that law is fiaally interpreted so that the interest or other loan charges collected or to be coltected in ' 'X"
<br /> connection with the toan exceal the permiued limits, then: (a)ariy such loan charge sha11 6e reduced by the amount ����
<br /> necessary so reduee the charge to the permitted timit;and(b)any sums already callecte�from Bvrrower which exceeded � '��
<br /> , � permitted limits will be refunded to Bonower. Lender may choose to make this refund by reducing the principal owed
<br /> ; under the Note or by making a direct payment to Borrower.If a refund reduces principal,the reduction will be treated as a
<br /> ! partial prepayment without any prep�yment charge under the Note. � . '
<br /> • ; , l3. I.egislaHon Afiecting Lender's Rlghts. !f enactment or expiration oP applicable�taws has the 'effect of � ;
<br /> rendering any provision of'the Nate or this Security Instrument unenfvrceable accarding tn its terms,Ixnder,at i�s option, r
<br /> may rcyuire immediate payment in full af all sums secured by this Security lnstrument and may invoke a�y remedies �
<br /> permitted by paragraph�9:3f Lender eaerctises this aption.Lencler shaU take the steps specified in the secand paragraph of �
<br /> paragraph 17. ,
<br /> 14. NoNces. Any n�t�ce to Borrower provided for in this Security Instrument shall be givesi�y delivering it or by , �
<br /> mailing it by flrst ctass mail unless applicable law requires use of another method. T?�:notice shatl6e directed to the �
<br /> Praperry Address or any other add��s Borrower designates by e�otice to Lender.Any rctice to I.ender shaU be Q.,,4ven by �
<br /> � first class mail to Lender's�ddtess stated hcrein or any other address Lender designates by notice to�orrower.Any noticc ,
<br /> . provided for in this Security lnstrument shal)be deemed to have been givcn t�Bc�rrower or Lender w�:e�given as provided
<br /> : • inihisparagraph. _. . - -------.._....---_...- ----------�----..---� --- -�--�----- ...._.. --�--- -� -------. . ..
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<br /> l5. Gorerning L�tw;Severability. This Security In�trument shall be governec€tsy federal law and the law of the
<br /> jurisdiction�a whieh the Property is located. ln the event that any provision ar cla:i.u;n`this Security lnstrumes2L or the '
<br /> ,4T�te conflicts with applicable law,sucb conftict shall not affect other provisions of t!::s Security,lnstrument ar t�te Note
<br /> uhich ean be given effect without the ranfttcting pr�visian. To this end the�rovisions�F this 5ecurit� tnstrument and the -
<br /> • "�iate are declared tobe severable.
<br /> • 16. Borruwer's Copy. Borrower sh�ll be given one conformed copy af the Not�:and ot'tt�.is Security lnstrument.
<br /> 17. �mansfer oi the Property or a Beaeficlal Interest in Bonower. If all nr any part of the Property ur any
<br /> intetest in i�s�sotd or�ransferred(or if a beneficial interest in Horrpwer ia s��ld��r tr�n.sferred and Horrower is nm a nawral .
<br /> person)withoul Lender's prior written conse»t,i.ender may,at its apti�n, reyuire immcdi�te payment in full of aU sums ' '
<br /> secured by this Security lnstrument. Howevet, this aption.shafl nat be exercised by Lender if exercise is prohibited by
<br /> � � • federaltau:isofthedateof'thisSecurity lnstrument. � '-��
<br /> If�::der eaercises this option,L.tnder shall give B�rrrower�totire�i'acrelerati�,n.'Che natice shaU provide a perind '
<br /> 'of not I�ss ti?an 30 days fram the date the notice is delivered or mailed within which f3orrawer must pay a11�ums securcd by
<br /> - - tfis Sccurir�instr[iment:if�atr6wcr faits tr p�y t6ese sums prinr to the cxpiration of ihis periud,i.ender may invoke i�ny �
<br /> remedies permiited by this 5e�Urity Instrument withuut farther notice c�r demand on�arrower, !
<br /> f$.Barrower's Rlght to Reinst�te. If�orrower mcets certain conditinns. Hor'.�wer shall h�ve the right to have
<br /> enforcemet�t t�f this Security Lnstrumeni discontinued at any time pri�r tn�hr e�rlier of:ta)S d�ys(vr such other period as �
<br /> L applicuble laa may specify for reinstatement)before sale of the Property pursuant t��.�ny pnwer of sale contained in this � �` .
<br /> Sec:urity instrumt�t;or(b)entry of a judgmenl enFotcing this Secarity instvument. 'i'hc�sr curcciiti<mv are�h<it F3��rrawct: �
<br /> (a)p�ys lxndet all sums whieh then wauld be due under thic 5ccurity inStrument and the Note hud'1ur uccelc�aUuti {�;
<br /> -- oscurreci;(bj cures any defa�lt�f any aiher covenants or agreenre�iis:fe?�pays:s11 exprnses incurrcci in enf�rcing this . �
<br /> 9ecarity tr�trument,inelucii�tg,but nti[ liinited tn,_reas6n5�te a[iarney.c'fees,and(d)iakc��uch.ictio�i at l,ender �ri�y � �
<br /> reasan�bly Tequire to assure that the lien of this 5e�;urity Instrumeui, Lender's nghfs in ti�e Pr��Perfy:,i�d tic�rm�a•cr's k
<br /> obli�tion to �►ay th� sum� secured by th�� 5ecurity Instrwne�,t �halt rcmtinuc uiuhan�cd. l���tin reintitatemenf hy ��
<br /> ��� H"o�row�r,tiiis�5ecUrity lasfrument and theobligatiuus se:cutcd irereby�hall rema�n fully e8ccti�e at�f m�atccl�.r;eh�m(tad
<br /> nreurred.He�a•et•rr,thi�n�P�t tv rein�tate shall nnt ap�lp ii�the c<uc uf accelerahi�n under�;�ra�;raphti 13��r 1�
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