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<br />89-100166
<br />If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument,
<br />Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the
<br />insurance terminates inaccordance with Borrower's and Lender's written agreement or applicable law.
<br />8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with
<br />any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid to Lender.
<br />In the event,of a total taking of the Property., the proceeds shall be applied to the sums secured by this Security
<br />Instrument, whether or not then due, with anp, rears pGid to Borrower. In the event of a partial taking of the Property.
<br />unless Borrower and Lender otherwise agree itt5 tlxe sums secured by this Security instrument shall be reduced by
<br />the amount of the proceeds multiplied by tO.'IY*? ow,ipg fraction: (a) the total amount of the sums secured. immediately
<br />before the taking, divided by (b) the fair rnm*e. value of the Property immediately before the taking. Any balance shall be
<br />paid to Borrower.
<br />if the Property is abandoned by Berm-wer, or if. after notice by Lender to Borrower that the condemnor offers to
<br />make an award or settle a nlilim for damage. &rcower fails to respond to Lender within 30 days after the date the notice is
<br />given, Lender is authorised -to rcrllect and apply the proceeds, at its option, either to restoration or repair of the Property or
<br />to the sums secured by thisget:ttrity Instrument, whether.+ar not then due.
<br />Unless, Lender and Burrower otherwise agree in writing, any app4=lion of proceeds t6 principal shall not extend or
<br />postpone the due date tithe monthly payments referred to in paragi~apl s 1 and 2 or change the- arhourtt of such payments.
<br />10. Bursorer k%i*O 'I11Wtumd; Forbewartce 14- %elder Not a Waiver. Extension of the time.. For payment or
<br />modification of amortization of.the sum" s -secured bz, this -Security Instrument granted by Lender t6 atty, successor in
<br />interest of Borrower shall not rperate to release the liabihai y of the original Borrower or Borrower's successors in interest.
<br />Lender shall not, be required to commence proceedicigs; against any successor in interest or refuse to extend time for
<br />payment or otherwise modify amortization of the sums,secured by this Security Instrument by reason of any,demand made
<br />by the original Borrower or Borrower's successors in interest. Any,forbearance by Lender in exercising any eight or remedy
<br />shall not be a waiver of or preclude the exercise of any right or remedy.
<br />11. Successors •rid Assigns Bound; Joint and S viW UsibiYity; Co- signers. The covenants aAd: Weements of
<br />this Security Insirument.shall bind and benefit the successors aced a�sr Qits.of Lender and Borrower, subject to provisions
<br />of paragraph 17. Borrower's covenants and agreements sftal`Y be jour and several. Are} Borrower Who co-signs this Sectidty..
<br />Instrument but does not, execute the Note: (a) is co- sigtii"agthis Se6arity Instrument only to mortgage. gran.: and convey'
<br />that Borrower's interest in.the Property under the terms.of this Security Instrument; (b) is not personally obligated to pay
<br />the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend,
<br />modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan
<br />charges. and that law is finally interpreted so that the interest or other loan charges collected or to be collected in
<br />connection with the loan exceed the permitted limits,. then: (a) any such loan charge shall be reduced br-_ the amount
<br />necessary to reduce the charge to the permitted limit; and, (b) any sums already collected from Borrower which exceeded
<br />permitted limits will) be refunded to Borrower. 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 refuted reduces principal, the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislation Affecting Lender's Rights. -If enactment or expiration, of applicable laws has the effect of
<br />rendering any provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option,
<br />may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies
<br />permitted by paragraph 19. If Lender exercises this option„ Lender start take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower proided• for in this Security Instrument shall be given by delivering it or by
<br />mailing it by first class mail unless applicable Ea*-, retiuires use of another method. The notice shall be directed to the
<br />�er
<br />Property Address or any other address Borro destgnat:es by notice to Lender. Any notice to Lender shall be given by
<br />first class mail to Lender's address stated here n,cr any other address Lender designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument shalt bo deemed: to. have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Law; Severability. This Security instrument shall be I;iss eraed- by federal law and the law of the
<br />jurisdiction in which the Property is located. In the event that any provision or clause. ofiltis Security Instrument or the
<br />':ote conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Now
<br />which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />person) without Lender's prior written consent. Lender may. at its option, require immediate payment in full of all sums
<br />secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Security Instrument.
<br />if Lender exercises this option. Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any
<br />remedies permitted by this Security instrument without further notice or demand on Borrower.
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions. Borrower shall have the right to have
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as
<br />applicable law may specify for reinstatement) before sate of the Property pursuant to any power of sale contained in this
<br />Secunty instrument: or (b) entry of a judgment enforcing this Security instrument Those conditions are that Borrower
<br />(ai prays Lender all sums which then would he due under this Security lnstrument and the 'Vote had no acceleration
<br />occurred. (b) cures any default of any other covenants or agreements. lc) pays all expenses incurred to enforcing this
<br />Seturily Instrument, including, but not limited to, reasonable attorneys' fees: and (d) takes such a; tton as Lender 11111%
<br />reasonah)y require tr, assure that the lien „f this Security Instrument* right,, to the I'roperte and Bornneer's
<br />"h4}tau„n ir, pay the sums secured 1^y this `ser.urity Instrument shall crnttnue unchanged t p -m romr.ttrtnent ha
<br />Ita,rr„v.er. this'ti ^tiut,ty Insst•,trrtent and ihrr-hh }rattoussecured herchy shall rrrnam fully etfeAttsrAll It n,'.t .• `; r,tlu,n hart
<br />:.rutrt•d 11 ,see Lrr. t}ttsraf,ht la, reinstate shall not apply to turAtr-r pm.wtat,h, I r . , 1'
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