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<br />if Lender required mortgage insurance as a condition of making the loan secured by Ibis 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 />L IwNetim. Lender or its agent may snake reasonable entries upon and inspections of the Property. Leader
<br />shill give Borrower notice at the tithe of or prior to an inspection specifying reasonable cause for the inspection.
<br />9. C'oadennatiea. The proceeds of any award or claim for damages, direct or consequential, in contraction 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 Lcncier.
<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 Leader 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 stuns secured immediately
<br />blfnre the taking, divided by (bl the fair market value of the Property immediately before the taking. Any balance shaU- be
<br />paid to 3orrowe:r.
<br />T- the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to
<br />crake an award or settle a claim for damages. Borrower faits to respond to Lender within 30 days after tine date the notice is
<br />given. Lender is authorized to collect and apply the proceeds, at its option, either to restoration or rep%r, of the Property or
<br />to the suues secured by this Security Instrument, whether or not then due.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to prinxiint %boll not ent w4 or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amauat r9srieb pk\eivmermts.
<br />10. Borrower Not Release* Ferbewanat By Leader Not a Waiver. Extension of tlhe, ww.- t}tar pay mr mtt ?r7
<br />modifcatiou of amortization of the sutras secured by this Security Instrument granted by Lesr4kor ua+ stay• sus a iv,
<br />interest of Borrower shall not operate to release the liability of the original Borrower or Borrower `s :stz,;mmrs vm irfM- r-"t,
<br />Lender shall not be nquireed to commence proceedings against any successor ire interest or refusv to extend curry.- pm
<br />payment or otherwise modify amortization of the suns secured by this Security Instrument by reascan as any demant aide
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercig ng.aiay right or remedy
<br />shall not be a waiver of or preclude the exercise of any right or remedy.
<br />11. Saoeesaors and Assign Bottad; Jdat atad Several Liability; Co-signers. 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-signs this SwvAty
<br />Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and Canvey
<br />that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not petsouatly 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 a•ty accommodations with regard to the terms of this Security Instrument or the Now \umhout
<br />that Wrrowees consent.
<br />12, Lroaa Ckarem If the loan secured by this Security instrument is subject m a law which sets maximum IIoan
<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 sums already collected from Borrower which exceeded
<br />permitted limits will be rnfundcd to lnirfower. Larder may chow. to rt:.ke this refund by reducing the pr_ndpeal 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 tercts, Leader. at its option,
<br />may require immediate payment in full of all suns secured by this Security instrutntme and miy 16rxoke any remedies
<br />per initte d by paragraph 19. If Lender exercises this option, Leader shall take the ice .dhe seacond paragraph of
<br />pwagraph 17.
<br />.. 14. No*m Any notice to Borrower provided for in this Security Jinstrurc.m',e shalt be giien bti deliver -iV. ii or by
<br />mailing it by first class mail unless applicable law requires use of anvEvw=:ethod. The notice simw.., ire directed to the
<br />Property Address or any other address Borrower designates by notice ta.. ft- :nder. Any notice to 1 shall be given by
<br />fast class mail to Lenders 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
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<br />1S, G�erniag Law; Seeerability. This Security Instrument shall be governed by federal law and the law of the
<br />piuisdicis 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 />a t icit can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the
<br />Nate are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given aFe conformed copy of the Nate and of this Security Eastcvmmt.
<br />17. Transfer of the Property or a Be
<br />Inteint in Borrower. If all or any part of. the Pra'pk y at: any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and H4rccil is tivae s nrsteira�i
<br />' pet ion) without Lender's prior written consent, Lender may, at its option, require immediate paymetii_ in Cat, a& sums
<br />s=tared by this Security Instrument. However, this option shall not be exercised by' %.artier if enmmw r. abJafl 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: 'rhe notice period
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower must p:ay 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 earlihr of: (a) S days (or such other period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power of We 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 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 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 Security Instrument shalt 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 case of acceleration under paragraphs )3 or 17.
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