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<br />If Lende>< required mortgage iasnrance as a edition of making the town secured"b this Security Instrument,
<br />Borrower 09 pay the premiums required to maintain the insurance in erect until.swh time as the requirement for the
<br />insurance terminates in accordance with Borrower's and Lendees written agreement or applicable law.
<br />1;. IrstptitHosi Lender or its agent may make reasonable entries upon and inspections of the Property. Linder
<br />shall give Borrower notice at the time of or prior to= inspection specifying reasonable causefor the inspection.
<br />The-preceedsof 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 s totttl•taking of the Property, the Proceeds shall be applied to, the sums secured bi this Security
<br />-- - Instruthentrwheiherornot 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 Insmim— ent 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 toBorrower.,
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to
<br />} stake 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 rest ration or repair of the Property or
<br />to the sums secured by this Security Instrument, whether or not then due.
<br />Unless Lender and Bottower otherwise agree in writistg, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of such payments.
<br />.10. Botmwer Not,Releat►ed; Forbearance By Lender Not a Waiter. 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 otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand 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 of or preclude the exercise of any right or remedy.
<br />11. Successors and Assigns Boaad; Joint and Several Liability; Co- sigeers. 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- signst and convey
<br />Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage, g, y
<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 and 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. Lean 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 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 surtts 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. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has the effect of
<br />rendering any provision of the 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 by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of '
<br />paragraph 17. z
<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 Lender. Any notice to Lender shall be given by
<br />first 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; Severability. 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 Instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note
<br />which can be given effect without the conflicting provision. To this end the provisions of this Security 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 acid of this Security Instrument.
<br />17. Transfer of the Property or a.Beneflcial 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 Borrower is sold or transfered and Borrower is not a natural
<br />person) without Lcudei's prior w ittcii co;tseri, Under may, at its option, require irrirt!!V1ikrP payment in full of all stems
<br />secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Security Instrument.
<br />If Lendcr exercises this option, Lender %hall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 30days froi., the date the rotise 3w aelt`,ered or manti within which Borrower must Pav all sums 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. Ili Borrower meets certain conditions, Borrower shall have the right to have
<br />enforcement of this Security instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as 7
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power of wle 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 he due under this Security Instrtmment and the Note had uo acceleration �
<br />occurred: (b) cures any default of any outer covenants or agscerrtents; (c) pa*, afl e!tpetises incurred m cniurctrg this tp
<br />Security Instrument, including, but not limited to, reasonable attorneys fees: and (d) takes Such acttirtt aS I ender may tt!
<br />- reasonably require to assure that the lien of this- .Security Instrument,. Lender',, ttght"..nl the Property and liotruwer's
<br />obligation its pay the sums secured by this Security Instrument %hall continue unchanged l;pon tewstatenieiii by
<br />Borrower, this Security Instrument and the obligations secured hereby shall remain fUlly effek live a- if ne+ as e}i Tatum flail
<br />occurred. However, this right to reinstate shall not apply in the case of acceletauuu under p.isagraph� 13 cn l7
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