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<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 in accordance with Borrower's and Lender's written agreement or applicable law.
<br />8. laslemUou. Lender or its agent may matte reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the time ofor prior to an inspection specifying reasonable cause for the inspection.
<br />9: CoWemantioo. 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 any excess 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 reduced by
<br />the amount of the proceeds multiplied 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 Borrower.
<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 within 30 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 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 referred to in paragraphs 1 and 2 or change the amount of such payments.
<br />10 Borrower Not Releatted; Forbeariutce By Lender Not sa 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
<br />interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest.
<br />Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for
<br />payment or ozhemise modify amortization of the sums secured by this Security Instrument by reason of any demand made
<br />by the origin) Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy
<br />shall not be a waiver of of preclude the exercise of any right or remedy.
<br />It. Saeeamrs aid Assips Bound; Joint atld SeverM Liability; Ca 4igners. 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 agreements 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 only to mortgage, grant and convey
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<br />that Borrower's interest in the Property: under the terms of this Security Instrument; (€t) 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. forbear or make arty 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 loam 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 oiler 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
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<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 Na.,e.
<br />I& Legislatics Affecting Lender's Rights. If enactment or expiration of applicable Laws has the effect of
<br />rendering any provisi,.r. - .ifthe 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
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<br />permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph c
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<br />paragraph 17.
<br />14. Notices. A 6y notice to Ilotrower provided for in this Secu tit y lnstrument ,s fall be given by delivering it or by
<br />mailing it by first class mail unless applicable IL ,w requires use of asts;[ser method. i' lie notice steal) be directed to the
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<br />Property Address or any: other address Borrow; :r dnignates by notice to Lender. Any notice to Lender shall be given by
<br />first class mail to Lender's address stare; Lh,srein w any other address Lender designates by notice to Borrower. Any. notice
<br />provided for in this Security Instrutr:,-:f X31 be deemed to have been given to Borrower or Lender when given as provided
<br />.n this paragraph.
<br />15. Governing)? ,tva; Severability. T'rjii !Security Instrument shall be governed by federal la% and the law of the
<br />!1- orisdiction in which the +V; operty is located. in the event that any provision or clause of this Serur iy. Instrument or the
<br />`Mote conflicts with apphmble law, such conflict shall not affect other provisions of this. Secur-Fy Instrument or t?:: Note
<br />which can to given effect without thr conflicting provision. To this end the provisions Gr' this Security lnstrume t and the
<br />Note are declared to be severable.
<br />16. Borrower's Cony. Borrower shall bee: pi am tine conformed copy of the Nor cr :act of ih"; Sncurity Instrument.
<br />17. Transfer of the Property or a Beat fidO Interest in Borrower. If all or a:,y part rZ the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Botrcwer is n(;: a natural '
<br />person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full ^, zzA sums
<br />.secured by this Security Instrument. However, this option shall not he exercised by Lender if exercise is proh-,rrted by
<br />federal law as of the date of this Security Instrument.
<br />If lender exercises this option, Lender sl it give Borrower notice of acceleration. •the notice shall provide a period
<br />of not less than 30days from the date the notice is delivered or mailed within which Borrower must pay all, ums 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 $+grower meets certain conditions, Iorrower shall have the right Its have
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<br />enforcement of this Security Instrument disconthnolk -43 0 sal time prior to the earlier of (a) 5 days (or such other period as
<br />applicable law may specify for reinstatement) tit :•re ,-6e ?f the Property pursuant to any power of sale Contained ut this
<br />Security Instrument; or (b) entry of a judgment cnforcing this Security Instrument. 'chute condtttom are that liormwer-
<br />(a) pays Lender all sums which then would be due under this Security Instrument and the Note had tics accclerttlon
<br />occurred. (b) cures any default of any other m%enants or agreements. (c) pays all expenses incurred to enforcing this
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<br />Security instrument, Including. but not limited tt ►. reasonable attorney-- fees. and (d) takes such action as i coder may
<br />reasonably require to assure that the hen of this Security Instrument. Lender's rights tit the Property and forrower's
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<br />obligation to pay the sums crrured by this 5ecurtty Instrument shall contimte urrrhrucged lipr�n r< rr :statrrlrent hti
<br />1.16fro.►er. thtti Set' loolument and the obhgahon4 sccurcA herehi Onill remain tully roe_toc :rs it nr► ac•cortatr�,n liad
<br />rr.urrcd Howeticr. ihtartchttureutstatrtihalloo ► :cnIs intl?rrc:Aue a_ ce!e•. :et:•• :Wldt ►ha. :1,11Mitt, 11, it bT
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