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<br />90-40 7206
<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 low.
<br />11. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Preperty. 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 clain 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. (at+ the total amount of the sums secured immediately
<br />before the taking, divided by (b) the fair market value of the Property its ttiolately 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 />male 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 otheriv ise agree in writing, any ayplication of proceeds to principal shall not extend or
<br />postpone the due date of the n :nnilily paymctnts referred I,> in paragrarh: I and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Net a Waiver. Extension of the time for payment or
<br />modification of amortizaton -:f the sums secured by thus 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 comm:nce proceedings against an 1. 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 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 />11. Successors and Assigns Boutd; Joint and Several Liability; Cosigners. 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 Security
<br />Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage, grant and convey
<br />that Borrowers 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) agrees that Lender and any other Borrower may agree to extend,
<br />modify, forbear or make any accommodations with regard to the teams of this Security Instrument or the Note without
<br />that Borrower's consent.
<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 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 he 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 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 Afiectinst Lender's RIRhts. If enactment or expiration of applicable laws has the effect of
<br />rendenngany provision of ike 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 3-g paragraph 19. If Lender exercises this option. Lender shall take the steps specified in thesecond paragraph of
<br />paragraph C -
<br />14. 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 requ:res use of another method. The notice shall he directed to the
<br />Property Address or any other address &trrower de iitna)es illy notice to Lender. Anc notice to Lender shall be given by
<br />first class mail to Lender's address Mated herein or any other address Lender designates by notice to Borrower. Any notice
<br />prosided for to this Security Instrument shall be deemed to have been gisen to Borrower or Lender when given as provided
<br />in this paragraph.
<br />IS. Governing Law; Severability. This Security Instrumen: shall he go%erned by fc&vA saw and the law nf,me
<br />loensdiction in which the Property is located. In the csen: that any provision or c :Base of tilts Security Instrument or the
<br />Note conflicts with applicable lag, such conflict shall not affect tither provisions. of this Security Instrument or the Note
<br />which can begiven effect without the conflicting provision. To thisend the pronitrons of this Se urity Instrument and the
<br />Vote are &dared to he severable.
<br />16. Borrower's Copy. Borr: suer shall be Fnsen one conformed ropy (-(tile `•, ^e: +t :z' "'1lisSecunty Instrument.
<br />17. 'transfer of the Property at a Beneficial Interest in Borrower. if ti n- ar.. part of the property or any
<br />tu,wrest in it n sold or transf, rrcd (or if r hencticial :aterest in Borrow er t. s(,h! • •r t ., -red and Borrower is not a natural
<br />person) mthout Lender's prwr written :ocr.,ent. Lender may. at its ortam, reyuirc irinwd+ate payment in full of all sums
<br />secured by this Security Instrument Iloweler, ctus option shit( a,vt he exercised by Lender if ceeram: is prohibited by
<br />federa[ tics asof the date of thu SeLurtrl Inserurnent
<br />If Lender exerci%c% this „prion. Lender shat[ .cesc liorrnw er n. ,te.e of acreleranun. r he notice shall provide a period
<br />of nor [ess than 30 days Isom t he d.rrr the n,,rae :.,le[rcere3 .,r matl,d osuhtn w Ec: h borrower a, list pa} all sums sstiured by
<br />ran icl:arrrp imtrument. ii iiurrc„►cr ;ari, ,,• t•a. ii,c,c -ut�„ �• .. , .: ,. -; :.... ...:''....- s :..._....�_... ........ _ ,
<br />remedies permitted by this Security Instrument wit hout turf her noricv.. ••r demara „n [rt.,rrower
<br />19. Worrower's Right to Reinsute. If Burrower meets arain onditions. Rorr,�wer shAl ha%c the right to haoe
<br />enforcement of this Security Instrument discontinued at any little Prior to the earlier of (a► ! days for such other peso d a%
<br />applicable la% may sprat,% tot remMalcmcnl) before sale of the Properly pursuant to any lx,wcr of sale contained in this
<br />Secunty Instrument: or 01 entry of a judgment enforcing this Sccurm Instrument Chose conditions are that rh,rrower.
<br />(a) pays Lender all sums which then would he due under this Security Instrument and the Note had no acceleration
<br />occurred. (blcure% any default of any other rolenant% or agreements. (ci pays all cspemt% incurred in ci lorcing this
<br />Setur+ts Instrument. including. but not l+rnted to, reasonable attorneys' ties, and (d) take,, such action a. Lender may
<br />reasonably require to aswre that the hen of this Sccuruy Instrument. Lender's rights tit the Property and Wrnmer%
<br />obligation to pay the sums secured by this Security Instrument %hall continue unchanged I'po,ti reinstatement by
<br />Borrower. this Security Instrument and the ohhgations secured herch% shall remain fully alrectn a as if no acceleration had
<br />occurred Haweser. this right to reinstate shall not apply in the c.+scc sf acceleration under paragraph% 13 or 17
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