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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 as maintain tite 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 taw.
<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 to an inspection specifying reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of any award or claim for damages, director 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 />instnrment, 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 waiting, the sums secured by this Security Instrument shall he reduced by
<br />the amount of the proceeds multiplied by the following fraction: (a), the total amount of the sums secured imr: ediately
<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 hS Lender to Borrower that the condemnor oiPen 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. tv i iaRect and apply the proceeds, at its option, either to restoration or repair of the Property or
<br />to the sums secured by this Se+: truly inmunient, whether or not then due.
<br />Unless Lender and BorYVVtier oilltTivise agree in writing, any Application of proceeds to principal shall not extend or
<br />irastpone the due date of t he monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments.
<br />10. Borrower Not Rerrased; forbearance Bp Lender Not ,e Weiver. Extension of the time for lik ritent or
<br />raar7dification of amortizatior•. ,af the sums secured by this Security Instrument granted by Lender to any successor in
<br />ii;,Jnrrst of Borrower shall ntlt operate to release the liability of the original Borrower or Borrower's successors in interest.
<br />Imider 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 reman 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 />ll. Successors and Assigns Bound; Joint and Several Liability; Co- signers. The covenants and agreements of
<br />this Security Instrument shall bind andbeneStt the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants and kz�eements shall be joint and several. Any Borrower who co -signs this Security
<br />Instrument but does not execute the Noiv: fix➢ es co- signing this Security Instrument only to mortgage. grant and convey
<br />rhat Borrower's interest in the Property twjJI;,4 > to terms of this Security Instrument; (b) is not personalty obligated to pay
<br />Rbir sums secured by this Sedan ty: bxsttr.zmmm and (E) agrees that Lender and any other Borrower may agree to extend,
<br />modify, forbear or make any with regard to the terms of this Security instrument or the Note without
<br />that Borrower's consent. •
<br />12. Loan Charges. If the foam. sez a red by this Security Instrument is subject to a law which sets maximum loan
<br />charges, and that law is finally interpri'trai so that the interest or other loan charges collected or to be collected in
<br />connection with the loan exceed the perrrtined limits, then: (a) any such Ivan cliatgc shall be rniuced by the amount
<br />necessary to reduce the charge to the permitted limit w.d (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrtwer. Lender may choose to make this refund by reducing the principal owed
<br />under the Note er by making a direct pag,cnra tt to Borrower. If a refund reduces principal, the reduction will be treated as a
<br />partial prepayazent without any prepaymnat charge under the Note.
<br />I& Xagi station Affecting Lender.', Lights. V enactment or expiration of applicable laws has the effect of
<br />r rviia ing ary provision of the Note or this Security im teutnent unenforceable according to its terms, Lender, at its option,
<br />z^ag Teryw,.ee, ummediate paym:ytt in full of all sums se`Piro -E by tIvs Security instrument and may invoke any remedies
<br />permitted iby'.p;!,'*agr3ph 1%. V Linder exercises this option. Lender q1 W I take the steps specified in the second paragraph of
<br />paragraph 17, .
<br />14. Notices. Anv ain m:e to Borrower provided for in this Secu'r:ty Instrument shall be given by delivering it or by
<br />mailing it by first class mail mless applicable law requires use of another method. The notice shall be directed to the
<br />Property Address or any ourn-r zddress Borrower desigtra.res by notice to Lender. Any notice to Lender shall be given by
<br />first class mail to Lender's address stated herpin 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 Instrurnoit: :;tall be governed by federa;L law and the law of the
<br />jurisdiction in which the Property is located. In the evert that any cocision or clause of this Security insttvrrtitiu or the
<br />Note conflicts with applicable law. such conflict shall no; -Afect ether provisions of this Security Instrument or the Note
<br />which can be given effect without the con:tlitaang pro�i:�,:,,a. Lo this. errd the provisions of this Security Instrument and the
<br />Note are declm-d to be severable.
<br />16. Borrower's Copy. Borrower -It Al be give..,, ate conformed copy of the Note and oPdi.r,4 Security instrument.
<br />17. Transfer of the Propla", or u Menefbct2vr i akerest in Borrower. If all or any pnain il" the Property or any
<br />interest in it is sold or transfi a -ui tnr rfa ]:at 14ziai 1r{ .r-znew in Borrower is sold or trap.- 474rrc+:i,3:r d D'c)rrouec is-:r„ *r a natural
<br />person) without Lender's prior, may, at its option, requtn mnn-c +hare• Gsy.r norm in -urns
<br />secured by this Security Instrument. Hotvec,er: ;tits:, prrun shall not he exercised he i _cider .i . i-n-lsriii,i :eti iat
<br />federal law ac of the date of this Security Imirument.
<br />If Lender exercises this option, Lesser shall give Borrower notice of acceleration. The rict-im- sliall provide a period
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower must' piy 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 wit hout further notice or demand on Borrower.
<br />18. 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 sale of the Property pursuant to any power of sale contained in this
<br />Security instrument: or (b) entry of a judgment enforcing this Security instrument. Those conditions are that Borrower:
<br />(a) pays Leader all sums which then would be due under this Security Instrument and the Note had no acceleration
<br />occurred; (b) curet any default of any other covenants or agreements; (c) pay- all expenses incurred in enforcing 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 this Security instrument. Lender's rights in the Property and Borrower's
<br />obligation to pay the sums secured by this Secunty instrument shall continue unchanged. Upon reinstatement by
<br />Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had
<br />occurred. However, this right to reinstate shall not apply in the caw of acceleration under paragraphs 9 or 17.
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