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<br />89- 10028$
<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 elect until such tithe as the requirement for the
<br />insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law.
<br />•. I@Wetletm. Leader or its s=ent 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 inspwien.
<br />9. Cosdessnation. 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 core ttnination, 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 =urW by this Security
<br />Instrument, whether or not then due, with any excess paid to Borrower. In the event of a partial staking of the Property,
<br />unim Borrower and Lender otherwise agree in writing, the sums secured by this Security Instuement shall be reduced by
<br />the amount of the proceeds muldpiied by the following fraction: (a) the total amount of the sums secured-immediately
<br />before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be
<br />paid to Borrowcr.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that,the condemnor O&M to
<br />make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after thedate the motice is
<br />given, Lender is authorized to collect and apply the proceeds, at its option, ei.:ter to r. ,toratia , at repair f the Ptopert} or
<br />to the sums secured by this Security Instrument, whether or not then due.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments rderred to in paragraphs I and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbewsace By Lender Not a Waiver. Extension of. the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by; Bender, to any successor in
<br />interest of Borrower shall not operate to release the liability of the original Borrower or; orrr�w's succ�.�o�s is in eyes
<br />Lender shall not be required to commence 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 r eason of any dermand made
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy
<br />shall not be a waiver ofor preclude the exercise of any right or remedy.
<br />11. Saecesaora and Assam Boaad; Joint and Several Liability; Co- signers. The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants and a$t eements shall be joint and several. Any Borrower who co-signs this Security
<br />Instrument but does not execute the Note: (a) is co- signing this Security Instrument onlp,.to mortgage, grant and convey
<br />that Borrower's interest in the Property under the terms of this Security Instrument; (b) s not personally obligated to pay
<br />the sums secured by this Security Instrument: and (c) attrees that Lender and any other. Borrower may agree to extend,
<br />modify, fotbear or make any accommodations with regard to the terms of this Security -Instrument or the Note without
<br />that Borre a` es consent.
<br />12. law Charges. If the loan secured by this Security Instrument is subject ito 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
<br />necessary to reduce the charge to the permitted limit; and (b) any sutras 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 refund reduces principal, the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislatloa AQecti f Leader's Rigbts. If enactment or expiration of applicable laws has the effect of
<br />rendering any provision of the Noteor 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 Leader exercises this option, Lender shall take the steps specified in the second paragraph 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 law requires use of another method. The notice shall be directed to the
<br />Property Address or any other address Borrower designates by notice to Lenders •Any notice to Lender shall be given by
<br />fast 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; Severaimility. This Security Instrument shall be governed by federal law and the law of the
<br />jurisdiction. in -which the Property;:is located. In the event that-any provision or. clause of this Security Instnmtent or the
<br />Note cunfiiii ts. iinth applicable lair, such conflict shall not affect other provisions of this Security Instrument oe the Note
<br />which van be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the
<br />Note are declared tobesevemble. :.
<br />16.1 Borrower's Copy. Borrower shall be given one conformed copy,of the Note and ofthis Security Instrument. .
<br />1'f.. Th imfer of the Property ors Beneficial Interest In Borrower, If. all-or any pact, of the Property or any
<br />interest it%it is sold or transferred(ca'if a beneficial interest in Borrower is sold or transferred and Borrower is nota natural
<br />person) without Lender's prior written consent, Lender tray, at its optionj,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 prohi bited by
<br />federal law as of the date of this Smiarity Instrument.
<br />If'Dmsow exercises this oo6n, Lender shall give Borrower notice of eceleratian. The notice shall provide a period
<br />of not less than 30 days from thedne the notice is delivered or mailed within which Borrower must pay all suers secured by
<br />this Security instrument. If Borrower fails to pay these sums prior to the xpiratton of this period,, Lender may invoke any
<br />remedies permitted hj this Security Instrument without further notieeor di'mand on Borrower.
<br />18. Borrowees.iltigrt to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have .
<br />enforcement of this Security lnstri rnent discontinued at any time prior to the earlier of: (a) 5 days (or such other period as
<br />applicable law may specify for re' ttstatement) 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 in enforcing this .
<br />Security Instrument, including, but not limited to. reasonable attorneys' fees; and (d) takes such action as Lender may
<br />reasonably require to assure that the lien of this Security Instrument. Lender's rights in the Property and Borrower's
<br />obligation to pay the sums secured by this Security Instrument Shall continue unchanged. Upon reinstatement by
<br />Borrower, this Security instrument and the obligations secured hereby shall remain fully effective as if no acceleration had
<br />occurred. Havever. this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17.
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