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90-106757 <br />If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, <br />Borrower shall lay lhapremiums required to maintain the insurance in effect until such time as the requirement for the <br />iA and Lender's written agreement or applicable law. <br />insurance tottnit(attes aecbrd►rice*ith Borrower's <br />S. ImOsWaa, . Lendei or its ajent may make reasonable entries upon and inspections of the Property. Lender <br />- <br />shall give Borrowa notice at the time of or prior to an inspection specifying reasonable cause for the inspection. <br />? <br />4. Coadentaattott. 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 muted 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 />units 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 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 neri:c a is <br />given. Lender is authorised to collect and apply the proceeds, at its option, either to restoration or repair of the Propeety, ar <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 princir:l shall not extend or <br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the of at of such payments. <br />10. Bprmwar Not Reletsed; Forltewance By Lender Not a Waiver. Ertettsiota: cf Y r: '::rte for payment or <br />modification of affim=fT,rm lif Erse sines oesured by this Security instrument granted lender to any successor in <br />interest of Borrower .131' r& %tans to virr a the liability of the original Borrower or Borrower's successors in interest. <br />Lender shall not I* required to commea�cr: Innecedings against any successor in interest or refuse to extend time for <br />payment or otherwise modify amortization Ivl: the sums secured by this Security Instrument by reason of any demand made <br />by the original Borrower or Borrower's successors to interest. Any forbearance by Lender to exercising any right or remedy <br />shall not be a waiver of or preclude the exercise of any right or remedy. <br />Ill. Successors and Assips Bound; Joint and 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, l�acrower's covenants and.. ments shall be joint and sweral. Any Borrower who co-signs this Security <br />Instrument but does not execute the Nate: gar 7s co-signing this Security tr .- ,zrrwment only to mortgage, grant and convey <br />that Borrower's interest in the Tt orperty u^dz' Oke terms of this Security- Gmsmumeat, ( L ) is not personally obligated to pay <br />the srtnzs secured by this Secum:y amsirwnt . -rat:; aced (c) agrees that Lender and any (,r-ner Borrower may agree to extend, <br />modfy. forbear or make aiy accrommodation with regard tr,T the terms of this Seccrvy Instrument or the Note without <br />that Borrower's Qwsent. <br />12. Loatm CUrges. if the loan sectored by this Security instrument is subject to a law which sets maximum loan <br />charges, and thar, 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 refunded to Borrower. Lender may choose to make this refund by reducing the principal owed <br />under the NotceTby making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a <br />partial prepaymer: without any prepayment charge under the Note. <br />13. Lqg skt Wn Affecting Leader's REghts. If enactment or exprration of applicable laws has the effect of <br />rendering any pt tianasion of the Note or this Security Instrument unenforceable accordrrrg to its terms, Lender, at its option, <br />array neuire immediate payment in full of all sums secured by this Security instruo7nnr and may invoke any remedies <br />purr *4 *d by par4caph 19.3E Lender exercises this option, Lender shall take the step• spzrified in the second paragrapti of <br />paragraph 17. <br />14. P wires. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by <br />malting it by 5mse class mail unless applicable law requires use of another method. The notice shall tie directed to the <br />Prge:ty Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be jp en by <br />fim: cbss mail to Leader's address stated herein or any other address Lender designates by notice to Borrower. Amur Tip race <br />prat arm far im ew*-,Security Instrument shall be deemed to have been given to Borrower or Lender when given as pera--fded <br />in this paragcanb. <br />SS. CAWmmdttg Lair. Severability. This Security Instrument -;uzi1 Ile governed by federal Uaw and the lave of the <br />purisdicaon in alltich the Prca*my is located. In the event that any prow,st 7 -. cr ciaa -, of this Security Instrument c-e die <br />Agate cyindicts with applic ablle r w. such conflict shall not affect other Security Instrument or cE-n XL, -re <br />v hiczh cart be given effect w�idtaut the conflicting provision. To this end the rr, tiati,ars -i this Security Instrurnmi: =i nhe' <br />Note are declared to be severable. <br />16. Sarnm.ee's Copy. Borrower shall be given one conformetii o. E; of the Note and of ih.:s Security insrru ment. <br />17. lrtwssCt of the Property ova Beneficial Interest in Bermwiiz. If all or any part ac the Property or arty <br />interest to it is sold or tranOaTed (or if a beneficial interest en gOrra%er c . cgYd or trans em-d and Borrower is not Y tmtural <br />persam) without 1,ender's prior written consent, Lender creak, at its opr1ara, require immed :late payment in fu;lt oPajl sums <br />secured by this.. Security Instrument. However, this option shall riot Ile exercised by Lender if exercise is prohi.btzi by <br />federal taw as of the date of this Security Instrument. <br />If Leader exercises this option, Lender shall give Borrower rrnnae n! :iccelerattost. site nouLr Oiall provide a pet a <br />of not less than 30 days from the date the notice is delivered or mailed within which Horrov.er must pay ail sums secured by . <br />fails sums to the experatioet cif Om'period, Lender may inviA.Cany <br />this Security Instrument. If Borrower to pay these prior <br />remedies permitted by this Security Instrument without 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 pnor 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 po%i;. 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 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) pa},s 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. Lenders rights err the Property and Borrower s <br />obligation to pay the sums secured by this Security instrument shall continue unchanged. Upon reinstatement by <br />)3orrower, 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 13 or 17. <br />