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<br />89~" 103939
<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. Inspection. 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 toan 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 flraction: (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 Released, Forbearance By Lender 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 />%merest 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 de►ttand 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. 'Sfteessors a and Assigns Bound; Joint and Several Liability; Co- signers. The covenants and agreements of
<br />this Security Ihstrurac itshall bind and benefit the successors and assigns afLertder and Borrower, subject to the provisions
<br />of paragraph 17. Boma! is 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 monpSe, grant and convey
<br />that Borrower's interest in the Property under the terms of this Security Instrument; (bl.is not perwxWly 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 />trtaDify; foroear or maize any accommodations with regard to the terms of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />1Z Lou Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan
<br />charges, and that law is finaiiy interpreted so that the interest or other loan charges collected or to be couei -ted 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 sums already collected from Borrower which exceoded
<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 Rigbts. If enactment or expiration of applicable laws has tIe. &ect 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.
<br />M . 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 Lendeir's address stated herein oar ¢ray other address Lender designates by notice to Wrrower. Any notice
<br />provided for in this Security Instrument shall be dermeri to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing1aw; Severability. This Security, Iwim rncnt shall be governed by federal law and the law of the
<br />jurisdiction in which the.Property is located. In the event tliat'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 rifest without the conflicting provision. Tb this end the provisions of this Security Instrument and the
<br />Note are declared. tube severable. -
<br />16. Horriiw&'s Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br />17. Trawlii r'af the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any
<br />interest in it is sold or iransferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums
<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 Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay 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 />It Borrower's Right to Reinstate. If 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
<br />applicable law may specify for reinstatement) before sate of the Property pursuant to any power of sale contained to 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 be due under this Security Instrument and the Note had no acceleration
<br />occurred: (b) cures any default of any other covenants or agreements: (c) pays all expenses incurred in enfarong this
<br />Security instrument, including, but not limited to, reasonable attorneys fees. and (d) takes such action as Lender may
<br />reasonably require to assure that the lien of thts Security instrument. Lender's rights in the Property and Rorrower's
<br />obligation to pay the sums secured by this S"unty Instrument shall continue unchanged l prm remst.rtrmcrtt by
<br />Borrower, this Se,urrty Instrument and the t}blrgstions secured herchy shall remain fully effeor.v as it m, :i_vlur.imm frost
<br />rKUarred Howc%er. this rrghi to rem%tatc shall not apply in the,.iv.c 1•f a—vit-vinon under r.arayraph, I ` - 1'
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