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<br />89- 100277
<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 tenninates in accos -&- ce 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. drum,, with any rexsess paid to Borrower. In the event of a partial taking of the Property.
<br />unless Borrower and Lender otherwise agree. in. writing, the sums secured by this Security Instrument shall be reduce! by
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<br />the amount of the proceeds multiplied by the~.f)sl.iawing fraction: (a) the total amount of the sums secured immediately
<br />before the taking, divided by (b) the fair market r+alue of the Property immediately before the taking. Any balance shall be
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnorr (affieas to
<br />make an award or settle a claim for damages, lk- rrower fails to respond to Lender wiiJijlr, 30 days after the date the•mitice is.
<br />given. Lender is authorized to collect and apply'tJr * proceeds, at its option,.citherter: r�Mi ration or repair of the , rty oz
<br />to the sums secured by this Security Instrumentt %Nether or not then due.
<br />UWtss Lender and Borrawe'r61hcrN1r -s4v:e in writing, any applicatiort. oF1N w\w& to principal shall not: eza i d-ix
<br />postpone trite due date of the mar}llly p ay'rn crferred to in paragraphs 1 and 2-i;,r r4h�;�_� the amount of suds. L ky> isenis.
<br />10. Borrower Not Rele& . Frvsf� By Lender Not a Waiver. Eaeee ;ion of the time for 04tMent or
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<br />ntodification of amot-ni= ion of the se urcd by this Security Instrument granted by Lender to any successor in
<br />interest of Borrower sivatJ not operate to release the liability of the original Borrower or Borrower's successors in interest.
<br />Lender shall not be required to commen "t,proceedings 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 I,emSe;r in exercising any right or remedy
<br />shall not be a waiver of or preclude the exercise dl any right or remedy.
<br />11.. Suceearm and Assigns Bound; Joimtt and Several Lfabflfty:; C�stters. The covetv-=s and agreements of
<br />this Security Instrurnehk shall bind and benefit the successors and assigns of Lender and Bc; rower, scab ject 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 execute the Note: (a) is signing this Security Instrument to mortgage,
<br />co- only grant and convey
<br />that Borrower's interest in the Property under ibe 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,
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<br />modify, torbear 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 by the amount
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<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. Ifa refund reduces.principai, the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislation Affecting Lender's Right L - If enactment or expiration of applicable laws has the efi'ect of
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<br />rendering any provision of the Note or this Security Instrument unenforce Me according to its terms, Lender, at its option,
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<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, Lendirshall take the steps specified in the second peFagraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by
<br />mailing it by first class mail unless applicable lbw requires use of another method. The notice shall be directed to the
<br />Property Address or aiiy other address Borrower designates by notice to Lender. Any notice to Lender shalli be given by
<br />first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall be 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 governed by federal taw and the law of the
<br />jurisdiction in which the Property; is located. In the event that any provision or clause of this Security Instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect. other provisions of this Security Instrument or the Note
<br />which can be given effect without the conflicting provision. To this end ±tbe provisions ef this Security Instrument and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed ceplg, of the Note and of this Security Instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Borrow .er. 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 rpa a oatum
<br />person) without Lender's prior wry ten consent, Lender may, at its option, require immediate payment in full of all s;irrs
<br />secured by this Security Insrrirment. However,. this option shall not be exercised by Lender if exercise is prohibited bj..
<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
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<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 har.e
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 dv,•s (or such other period aN
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this
<br />Security instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower:
<br />(a) pays Lender all sums which then would be due under this Security Instrument and the Note had no acceleration
<br />occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred to enforcing this
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<br />Security instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as bender may
<br />reasonably require to assure that the lien of this Security Instrument. Lender's rights to the Property and Ilorrourer's
<br />obligation to pay the sums secured by this Security instrument shall continue unchanged Upon rem--tatement h♦
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<br />Borrower, this Security instrument and the obligations secured hereby %hail remain fully effecme as if im acceleration had
<br />incurred ilowever. this right to reinstate shall not ar+ply in theca-e of acceletalion under paragraphs 1 i nr 11
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