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<br />100725
<br />If Lender required mortgagee insurance as a condition of making the loan secured by this Security In-
<br />strument, Burrower shall pay the premiums required to maintain the insurance in effect until such time as a requirement for
<br />the insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law.
<br />S, Inspection, Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall
<br />give Borrower notice at the time of tit 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 any
<br />condemnation or other taking of any pact of the Property, or forconveyance in lieu of condemnation, are hereby assigned and
<br />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 any excess paid to Burrower. In thr event of a partial takmgof the Property, unless
<br />Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount
<br />of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before taking,
<br />divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor t-,f crs to make
<br />an award or settle a claim for damages, Burrower fails u) respond to Lender within 30 days after the date the n%.'Aice is given,
<br />Lender is authorized to collect and apply the proceeds, at its, option, either to restoration or repair of the Property or to the
<br />sums secured by this Security Imtrument, whether or not then due.
<br />Unless Lender and Burros yr otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and ? or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance 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 Lender to any successor in interest of
<br />Borrower shall not operate to release the liability of the urigittal Borrower or Borrower's successors in interest. Lender shall
<br />not be required to cornmence proceedings against any successor in interest or refuse to extend time for payment or otherwise
<br />modify amurtizationofthe sums sevared by this Security Instrument by reason of any demand madeby the original Burrower
<br />or Borrower's successors in interesa. Any forbearance by Leader in exercising any right tar remedy shall not be a waiver of or
<br />preclude the exercise of any right or remedy.
<br />11. Successors and Assigns Bound; Joint and Several Liability; Co- signers_ The covenants and agreements of this
<br />Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of
<br />paragraph 17. Borrower's covenants and agreements shall be joint and several. Any BorroRcr who cu -signs this Srturity
<br />Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage. grant and convey that
<br />Borrower's interest in the Property under the terms of this Security Instrument: (b) is not personally obligated to pay the
<br />sums secured by this Security Instrument; and (c) agrees that lender and any other Burrower may agree it) extend, modify,
<br />forbear or make any accommodations with regard to the terms of this Security instrument ur the Note without that
<br />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 collectedor tolueci llecte-d inuinneetion
<br />with the loan exceed the permirtecl.limits, then: (a) any such loan charge shall be reduced by the amtrunt necessary to reduce
<br />the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be
<br />refunded to Burrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a
<br />direct payment to Borrower. if a refund reduces principal, the reduction will be treated as a partial prepayment without any
<br />prepayment charge under the Note.
<br />13. Legislation Affecting Lenders Rights. If enactment or expiration of applicable laws has the effect of rendering
<br />any provision of the Note or this Security Instrument unenforceable according to its terms, lender, at its option, may require
<br />immediate payment irr full of all sums secured by this Security Instrument and may invoke any remedies permitted by
<br />paragraph 19. if Lender exercises this option, Lender shall take the step4 specified in the second paragraph of paragraphs 7.
<br />14. Notices_ Any notice to Burrower provided for in this Sec-unry Instrument shall be given by delivering it or by
<br />mailing it by first class mail unlecsapplicable law requires use-of another method. The notice shall be directed to.rhe Proper"
<br />Address or any other gLddress Burrower designates by notice to Lender- Any notice to Lender shall be given by fi ryr.cl'ass mail.
<br />to Lender's address stated herein or any oifier address Lender designares.by notice to Burrower. Any notice proat'ided fur in
<br />this Security i nstrumen r shall be deemed to have been given to Burrower or Lender when given as provided in this paragraph:'
<br />1.5. Governing Law; Severability. This Security instrument shall be governed by federal law and the law of the
<br />jurisdicticin in which the Property is located. in theevent that any provisionorclauseof this Sectrity Instrumentor the Note
<br />conffictswith applicable law, such'confiict shall not affect other provisions of this Security instrument or the Note which can
<br />be given effect without the conflicting provision. To this end the previsions of this Security Instrument and the Note are
<br />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 Burrower is stilt] 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 federal
<br />law as of the date of this Security Instrument.
<br />if Lender exercises this option, Lender shall give Burrower notice of acceleration. The notice shall provide a period of
<br />not less than 30days from the date the notice is delivered or mailed within which Burrower must pay all sums secured by this
<br />Security instrument. If Burrower .ails to nay these sums prior to the expir.itiun of this period, Lender may invoke any
<br />remedies permitted by this Security Instrument without further notic:• or demand tin Bor rower.
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions. Borrower shall have the right to have
<br />L enforcement of this Security Instrument discontinued at any time prior to the earlier of- i a) 5 days ( or such other period as
<br />applicable law may specify for reinstatement) before sale of the Property pur%u.int to any power of %ale• contafnc•d in this Se-
<br />curity Instrument, or (bi entry of .I judgment enforcing; this Srttinty in%rrtn lent 'floc• conditions are that Borrower I.1(
<br />pays lender all sums whch then would be due under this Sewru) Inmuint n1 ,1nd flit- Nwi: li,1tl nn atteleration mcm rvd, ( h i
<br />cures any default of any other convenantsoragreet netts,( c) pays. illcxpensr % nit i:rrtd fit cnforuni; This NeLi ntInstrument.
<br />Including„ but,'tiot lintacd tn, re•asun.ible• at(ome•y%• fe•c•%, and ,d, rakes tit 11 atif.m ..% I t ndet 111.1 Io.isun.,hls Ie•ywtr tit as-
<br />sure that the. hen of this Sc•curit) In%trullICnr. I.cII&I s 11g;llts (f1 flit PFI -Hello .11. 1 1 • p.rt flit. %(fills
<br />%•cured by'rhi% Setonry Instrutnt•nt %hall tuot(futt' MILItang;t-d I'll' III I 111.1,11( nu fir h, li,,;f:.,t( r It, ,.'Ir,ut it Iri %(r fill .t n•
<br />and fkt :f6ligat lots w1(. urcd lit it by 01.111 reol.1111 full., clhttrsr .I% it n,. it t+lt [.if:..i' i. .,' •,. .i rr.1 IL•.t, tt' rlu. r11 :1
<br />renivate• %hall not apply in flit. ,a%r of utr Iet.nion under I +stag;, ,1l'hs ; .r i
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