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<br /> 90- 10433 5
<br /> If Lender requited mortgagee insurlince as 1,'acmdW),v or, naitat,N?the hater swurrad by this Swarity IEttstrwmalt,
<br /> Borrower shall pay 1hz rare ttiiums requirt'1 to ita ikiim. tlt4µ ~lttum, ac it L~ K until s+p~h;thine apt the regnirnment far they
<br /> irp ?umnce terminates in a.,vrrrdw m Walt Borx a ivees and Lex~e't^n'arrittt~tt i ~eotirarit or ttippikcable law.
<br /> 11. Inspectlioa. Leader or its vi&nt rnry miaatlte reasctttm* ent&'s trpott at*1 inspections of the Pmpemy- Lender
<br /> :t'tittlt give Borrower notice ant the time of or prier v-~ -in inspection qt-cifying rtmson0ble arose for the inspeatioij.
<br /> 9. Condeninatiom, The proceeds of any avwd or r<Ww-. fc,r damage% divert or corinquetttiail. in connection with
<br /> vay condemnation or other taking of any -,,art of the Property, or for conveyautce 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 azil-, excess paid to Bcxmwer. In the event of a partial taking of the Property.
<br /> unless Borxower and Lender otherwise agrc;: in writing, the sutras eecured by this Security Instrument shall be reduced by
<br /> the amount of the pracxds multiplier; by the following fraction: (a) the total amount of the sums secured immediaMiy
<br /> before the taking, divided by (b) the fair market value of the Property imm- ediately before the takingg. Any balance sl:4'l be
<br /> paid to Burrower.
<br /> If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to
<br /> make an award or settle a claim for damages, Borrower fails to respond to Lender wvithin 34 days after the date the notice is.
<br /> given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or
<br /> to the sums secured by this,%curity Instrument, whether or not then due.
<br /> ,,Tee in writing, any application of proceeds to principal shall not extend or
<br /> Unless Lender anti Baw roa er otherwise Of
<br /> postpone the due date of the monthly payments referred to in paragraphas : and 2 or change the amount of such payments.
<br /> 10. Borrower Nct Released; Forbaslr>&ttce By Lender Not a Waiver. Extension of the time for payment or
<br /> modiftc: tinn of amortization of the sums secured by this Security Instrument granted by Lender to any successor in
<br /> interest of Borrower shall! nit operate to release the liability of the original Bonn;. er or Borrower's successors in interest.
<br /> Lender shall not be required to commence pro-c- wings against any suc.±esse-, i,.. interest or refuse to extend time for
<br /> payinent or otherwise modify amortization of the sums securest by this Security Ati,sti u-mcnt by rP?crin of env demand made
<br /> by the original borrower or Borrower's successors in interest. Any forbearance by Ler.,der in exercising any right or remedy
<br /> shall not be a waiver of or preclude the exercise of any right ar remedy.
<br /> 11. Successors and Assigns Bowed; Joint .and Several. Liability; Co-signers. The covenantst and agreements of
<br /> this Security I.nstrutri-ent diesD bind and benefit the successors and assigns of Lender rind Borrower, subject to the provisions
<br /> of paragraph 17. Borrower's covenants and pareements shall be joint and several. Any Borrower who co-signs this Serurity
<br /> Instrument but does not execute the Note: (a) is ccrcib ^g this Security Instrument only to mortgage, grant and convey
<br /> that Borrower's interest in the Property under the terms of this Sccu-:ty Instrument; (b) is not personally obligated to pay
<br /> the sums secured by this Security Instrument: and (c) agrees that Leader and any ether 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 max~,mum 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 he reduced by the amount
<br /> necessary to reduce the charge to the permitted limit; and (h) any sums already collected from Borrower which exceeded
<br /> permitted limits will be refunded to Borrower. Lender may choose ;c 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 he 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 hM•> the effect of
<br /> rendering any provision of tile Note or this Security Instrument unenforceable according to its terms, Lendr:r, at its h1•ti:~ri.
<br /> may require immediate paymeni 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 shall take the step+ specified in the second paragraph of
<br /> paragraph 17.
<br /> 14. Notices. Any notice to Borrower provided for in the, Security instrument shall be given by dclic cring it cr by
<br /> mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to tiie
<br /> Property Address or any other address Borrower designates by notice to Lcm;er. Any notice to Lends: thal) be given by
<br /> first class mail to Lender's address stated herein or any other address Lender designates by notice to Bm rower. 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 go%crned by federal raw and the law of ttie
<br /> jurisdiction in which the Property is located. In the event that any provision or clause of this Sccw ity Instrument or the
<br /> Nate conflicts with applicable law, such conflict shall not street other provisions of this Security Instrument or the Note
<br /> which can be given effect without the conflicting provision. To this end the provisions or this See:u6ty 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 serer:r: in Borrowum if all or any pa,'t of the Pn~pcrty or ally
<br /> interest in it is sold or transferred (or if a beneficial interest in ldorrower is sotc', or transferred and norrower i% not a natural
<br /> person) without Lender's prior written consent, bender may, at its or,:i m, r.-,quire immediate pat it), n in full of all Burns
<br /> secured t:y this Security Instrument. However, this option shall n,,' e,. r=e zked by Lender i. R-xcrcise is prohibited by
<br /> federal law as of the date of this Security Instrument.
<br /> If Lender exercises this o•ition, Lender hall give Burrower n,i.i.c o r.,:o,leration. The notice shall provide a period
<br /> of riot less than 30 days from the date the nonce is delivered or mailed, v,thin which Borrower rrtr t pay till surtts secured by
<br /> this Security liistrutncnt. If Iron°ower fails to iiay thm stems prior to tl e e cpiratioti of this Iierio , i.-ender may invoke any
<br /> remedies permitted by this Security Instrument without further notiee or demand on Ilorrowcr.
<br /> 18, Borrower's Right to Reinstate. If Borrower meets certain conditions, borrower shall have the right tq have
<br /> enforcement of this Security imtrument discontinued at any time prior to the earlier of: (a) 5 days (or such other perk,:: !s
<br /> applicable law may sliecify 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 coedit ons are that Borrower:
<br /> (a) pays Lender all sums which then would be dice under this Security instrumcn' and the Note had no mcderation
<br /> occurred; (b) cares any do cult of any other covenants or agreements; (c) pays all expenses incurred in enfc+icing this
<br /> Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action m Lciidr.r cony
<br /> reasonably roluire to assure that the lien of this Security instrument, tender's rights in the Property and I1orro~,vCr•,
<br /> obligation to pay the srr:urcd by this Security Instrument shalt continue unchangrd. Upon reinstatemr:rit by
<br /> Borrower, this S+-cttrity Instrument and the obligations secured hereby shall remain fully eficrtive as if ro accclcrv °Kw, 1rad
<br /> occurred. I owcvcv. this right tc:. v ,-instate shall not apply in the case of acceleration under paragraphs 13 or 17.
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