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<br />89-;� 102304
<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 />& Ingectioe. Lender or its agent may make rasonable 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. Ctiadesinutdon. 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, of for conveyance in lieu of condemnation, are hereby
<br />assigned and shag be paid to Leader.
<br />In the event of a total taking of the Property, the proceeds shall be applied to the sutras 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., the•, ;i Oly
<br />, is abandoned by Borrower. or if, after notice by Lender to Borrower that the condemnor,offers to
<br />make an a �+_ smile a claim for damages, Borrower fails t4 ?fond tq Lender within,30,days after the date the reduce is
<br />.: rven, Len�er is aat .mss Ito collect and apply t}ri pceeds ;: 3' 3 apEi© cc tier to restoration or renp�i. =of the F -*y or
<br />s the sums secured tsti; ,tiitx.S Security Instrument, wc, f 4a ors &,6'eti A-.ie • '
<br />Unless Lender. •an Soffower otherwise a L a rif> t, --a-iy _appiic" p ,of pwgetds to princi al.s'tatl not ex W=d or
<br />postpone tbe i` ui•.da i af,th# monthly payments readied ;to zM m pli ' I �rtd 2 or charge the amount of such zwz pints.
<br />iQt 11lt5esvvrer Y Released; Forirearaace Bsy Lehi, a l�lsiv.Er. Extension of the time for pah`-tt or
<br />modification-,of :oF a:no_* is Loan .:4 the sums secured by this Seciii ty � 1A - - ittteatt granted by Lender to any successor in
<br />interest of Borrower slsa9l rte, operate to release the - liability of the originr l Borrower or Borrower's successors ini=erest.
<br />Lender shall not be required to commence pro .caecl rags agaitrst.any successor ins interest or refuse to extend tkne for
<br />payment o: of herwise modify amor=e vn of the s-� secured by this Security lnstrumers Cry reason ofany demak' glade
<br />by the orgia; Borrower or Borrc ir su cessors in interest. MC i forbearance by Lender in exercising any right of remedy
<br />s6_6_ col ` ix a waiver of or preclude tb! eXercise of any right or remedy.
<br />successors sit d Aaaigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of
<br />this 5ect1:__Yi k- ,9rument skill bind and benefit the successors and assigns of Lenderand Borrower, subject to the provisions
<br />of paragraFss V'?. 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
<br />that Borrower's interest in the Property under the 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 arid any other 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 maximum loan
<br />charges, and that law is finally interpreted so that the interest or other loath 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 cram:° ::�xhe permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be r� `..�s : Borrower. Lender may choose to make this refund by reducing the principal owed
<br />under the Nc aor by maki ni a 4irevM payment to Borrower. If a neund reduces principal. the reduction will he treated as a
<br />partial tany prepayment charge under the Noze.
<br />13. Les5sUdaz Z%eting Lender's Rights. If enactment or expiration of applicable laws has the effect of
<br />rendering any provisioawi' °.he 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
<br />permitted hy: paragraph 19. if Lender exercises this option. Lender shall take the steps spwified in the second paragraph of
<br />paragraph rTr.
<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 bi, notice to Lender; Any notice to Lender shall be given by
<br />first class merit to Lender's address st ;tad herein or any other address Lender designates by notice to Burrower. A.. � rr_ rice
<br />provided fa -i:•n this Security Instrument shall be deemed to havelp--en given to Borrower to Lender when given as pr; vi4cd
<br />in this paragraph.
<br />15. Governing Law; Sevenbility. This Security Instrument shall fir governed by federal lase- 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 ar the Note
<br />which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and Cite
<br />Note are declared to be severable.
<br />16. Borrowees 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 a1Gor any part of the Property or any
<br />interest in,-.t-i.,, sold or transferred (or if a beneficial interest in 13i+rrower is sold ortnansfe,'AM and Borrower is not a natural
<br />person) w`hvut Lender's prior written consent. Lender may, at its option, require imrrliate payment in full of all sums
<br />secured by this .Security instrument. Wowever, this option 5h',J), not be exercised. to Fender if exercise is prohibited by
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises'this optio:;, bender shall give Borrower notice ofat �'eidr�c[i sn. The notice shall provide a period
<br />of not less than 30 days front the date.the notice isdelivered or mailed within which•liorr-+fc•er must pay all sums secured by
<br />this Security instrument. If Bortce tr' foals to pay these sums prior to the expiration of th.m period; Lender may invoke any
<br />remedies permitted by this Security Instrument without further notice or demand on l3fwr . :,uer.
<br />18, 061`1`01tees Bight to Reinstate. if Borrower meets certain conditions. Borrower shadlihuve tits tight ao have
<br />enforcement of this Security Instrument discontinued at arty time prior to the earlier of (a) 5 days Gtr Such other period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power of wile contained in this
<br />Security Instrument; or (h) entry of a judgment enforcing this Security Instrument Thow conditions are that Rorrerwer.
<br />(a) pays Lender all %urns Which there would he due under this Security Instrument and the Note hsut• ao .tr•:t•letation
<br />msutrcil. (h) cures an) default of any outer covenants or agreements, (c) pays all expenses encurrc ;l In enti+rctn): tin"
<br />Security Instrument, mcludmg. but not limited to. reasonable attorneys' fees. and (d) takes such actumn as 1 ender may
<br />reasonably require to astute that the lien of this Securit) Instrument, tender's right: in the fr,+rc•rty and Horrimcr's
<br />tibligatunn to pay the sums .ecutcd by this Sccunty lostrunncttt shall a,ntmuc tint hangetl Upon rru+statentcue hy
<br />N ++gruel': this Stcunty In%trutnent and the obligah+ms se•curcd hereby shall rerram fully effecthse j1% it- fill ac.eler.tUnte had
<br />+m-curred Nrvwv%cr.thts tight tip reins fate shallm, taptil}+ n the vase ofacrclerati oti under
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