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<br />90- 105548
<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. Intlpes:tlon. Lender or its agent may make reasonable 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. Condemnation. 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 awwwrit of the sums secured immediately
<br />before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balaetee shall be
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower, or if, after notice b) Lender to Borrower that the condetnrwr offers to
<br />make an award or settle a claim for damages. Borrower fails to respond to fender within 30 days after t he dace tale 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 prirm;ipal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the artrount of such payments.
<br />10. Borrower Not Mend; Forbearance By leader 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
<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 Ins' rument by reason of any demand made
<br />by the original Aorrower or Ilorrnwer's unrenainra in interccl Any forhearance by I. ender in euerciaing any right or remedy
<br />shall nut be al waiver of or preclude the exercise of any right or remedy.
<br />11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. 'rhe 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 />Instraunuout but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage, grant and convey
<br />that &or-rower'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) agree% that Lender and any other Borrower may agrees to extend,
<br />modify, forbear or tn.ake any accommodations with regard to the terms of this Security Insirume:nt or the Note without
<br />that Borrower's con -wnu.
<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 finalty interpreted so that the interest or other loan charge. collected or it) he collected in
<br />connection with the loan exomd'the permitted limits, then: (a) any such loan chwge 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 Im 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 ass
<br />partial prepayment without any prepayment charge under the Note.
<br />13. L.egislatba Affecting Lender's Rights. Of .:nactment or expiration of applicable laws has tilt effect of
<br />rendering any provisltem of the Note or this S1ecr•rity Instrument unenforceable according to it+ tem?. s, Lender, al it% option,
<br />may require immedfiat payment in full of all sums Secured by this Se►unt) Instrument arid- :aa% invoke any remedrees
<br />permitted by paragraph 19. If Lender exercises this option. Lender shall take the steps specified as tike re.'cond Paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided Bete in this Security Instrument %hull he Ini-eu h% delivering it or by
<br />mailing it by first Class mud unless applicable law requires use of an.►eher method the notice shall tk directed to the
<br />Property Addressor any other address Borrower designates by noticee Lender. An) notice to Lender shall be given by
<br />first class mail to Lender's address staled herein or any other addnm Lender dvsitinates by nobs it, Ik,rrower Any nolwc
<br />pro%ideaJ for in this Security Instrument shall he deem.~! or. Itdve been given to Hrrro%ker or I ender when ansra, .i% provided
<br />in this paragraph.
<br />15, Governing Law; Severability. I'hn Security lmirumenr ,o1',all toil go,%earned by federal law and the law of tr,,,e
<br />iurisdiction in which the Property is located In the event that :tit% pr,•,t i .loon air clause of this See unto Imtrutnew tit uhe
<br />Note conflicts law, such conflict shall not affect other prmistom (if this Security Instrument er the !%exe
<br />which can be given edfvtit wnhuur the conflicting provision 1 ti this end the prosi+c„ons of this Secant) Inorurrtent and the
<br />Note are declared to he severable.
<br />16. Borrower's Copy. &orrower shall he given one conformed cop) of the Note and of this Security Imlrument
<br />17. Trawder of the Promerty or a Beneficlal lntntoct In Reirrnaay. If .ill air :111% mart of the Prainert% air anv
<br />interest in it issold or transferred (or if a beneficial interest in thirrower I% solid ur itamfer red and Borrower i,% nil a natural
<br />person) Without Lender's prior written convent. Lender may. at its option. rcywtc rrnmeduite payment 111 full of all %um+
<br />secured by this Secunty Instrument. Nowe%er, this option %hall not he eseics%ed he I ender If exercise I% prohibited by
<br />federal law as of the date of flit-. Security Instrument
<br />If Lender evercive% thr +option. l ender shall goc Ilorre+wrr notice 1 d'aecelerarrlal 1 h,• t1, •r1, r• %hair pr,wstle a perr,sel
<br />of not lei.. thsan JO dal % from the date the rrlltwe i% deh%cred or mailed w ithin w hich K w,, %%zr notim pay all %um% %et- uretl b y
<br />this Security Instrument U ltorruwer fails to pay there sums prior at the r%pittown ,,f rhr% pert.,.). Lender mar 1 make any
<br />remedies perritted by this Security Instrument without further 111,tier air demand „n K-m iacr
<br />18, Borrower's Right to Reinstate. If Borrower inert +cenarn conditions. 1kirtimet %hall hale• the tight to ha%e
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of tat 5 do-)% lair %uch other (oerurl a%
<br />.•pdw-ahlo -law may %peed"% for reinstatement) before sale of the Prupert) pur %uanl 111,111) pi,wer of wlc caintaintil m this
<br />1,vurity Instrument: tit (h) entry of a judgment cnlorcmg'hi% Set:urit% Irwiumew 1 haise e,imblio % are that hirrower
<br />ta) pay% lender all sums which then would he due under ohs% 1ot-urit% Instrument .,nit the Note had 11.1 r..elcratlon
<br />occurred, (b) cure+,any default of an) othet coscnant%tir :tiarrtnent% its p.1>s.1,1 .%pans -% oltsurred m rnl'acotlt this
<br />Secuny Imlrument. arcludmg. but not limiled 111, rewitt.ihle art11r11e%%' Iv%% .uld 4,11 t.1kr% s'i'll as11,111 .1% I cndcr 111e%
<br />reawlnahl) reyulte to rssurc'hill the (ten tit tilt% ~went) Instrument. I etldcr % nphi% m tilt- 1'r.ylt-rt% .mil KA rr.mrt %
<br />11hllgatiain to pap the %unis secured h% tlIK So-%utit% Instrument %hall .'mtmur tin, h.m'cef 1 (''-n wit,%imcitit tit tilt
<br />Ilatruwer, this lecus i1y Instrument and the ohligaUn11s se•t we•+i heirh% %hall ruitiam 11111% a t1r, tnc .i%'t r,- .1, , fit 1.111• n h 1.1
<br />4k4 utrell Nlowcsct. this right tit teomalc %hall 111,1 appl% of thr Lose„ 1 .n.1•lciall,m 111111' r Im1,11 :1.11,11, 1 1 • 1 I ,
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