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<br /> �9-�10648'7
<br /> � IP Lender required �ongage imurance as a conditian oP making the loan secured hy this Security instrument,
<br /> Banower sha11 pay the premiums required to maintain�he insuranr.e in effect until such time as the requirement Por the
<br /> insurance terminates in accordance with Horrawer's and Lender's written aRreement or applicahle law.
<br /> 8. In�pecH�n. I.eader or its agent may make reasonable eatrics upcm and inspections of the Property. Lender
<br /> shall give 8orrower natice at the time of or prior to an inspection specifying reasonAble cause for the inspeetion.
<br /> 9. Condemn�ttian. The proceeds of any award ar claim for damages,direct ur conseyuential,in connection with
<br /> any condemnation or other taking of any pan of the Property� or for conveyance in lieu of condemnation. are hereby
<br /> assigned and shaU 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 /> Instrumcnt. whether or not then due,with any eacess pald to Borrower. ln 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: (a)the total amount of the sums sccured immediately
<br /> before the taking,divided by(b)the fair n�arket value of che Property immediately before the taking.Any balance shall be
<br /> paid io Borrawer.
<br /> If'the Property is abandoned by Aorrower,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 /> glven,Lender is authorized to callect and apply the prceeeds,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 agee in writing,any application of proceeds to principal shall not eatend 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 Relwed; Forbeannce By I,ende� Not a Waiver. Extension of the time for payment or
<br /> modification of amortization of the sums securod by this Security Instrument granted by Lender to any successor in
<br /> � interest of Borrower shall not operate to release the liability of the original Borrower vr Borrower's successors in interest.
<br /> : . Lender shall not be required to commence proceedings against any successor in interest ar refuse to extend time for
<br /> � payment or otherwise modify amortization of the sums sxured by this Sccurity Instrument by reason of any demand made
<br /> by the original Bonower or Borrower's succcssors in interest.Any forbearance by I.ender 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 aad Asstps Bound;Jaint and Several Liability;Co-sigaera. The covenants and agreements of �
<br /> ' this Security lnstrvment shall bind and beneRt the successors and assigns of I.ender and Bonower,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 Bonower's interest in the Property under the terms of this Security lnstrument(by is not personally obligated to pay �_ �
<br /> ; tht�us:s�.,;sr�Sy Qiii�.°if�;uffiji IiSitUmeIif;and ic�agrees that Ixn�er and any other Borrower may agree to extend, -�
<br /> � modify� forbear or matce any accommodations with regard to the terms of this Security lnstrument or the Note without
<br /> that Horrower's consent.
<br /> � 12. Loan Y Y .1
<br /> Cbarges. If the loan secured b this Securit Instrument is sub'ect to a 1aw which sets maximum loan -
<br /> : charges. and that law is finally interprete� 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 Bonower. 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 /> F 13. I,egislation AffectiAg Leeder's Rights. If enactment or expiration �f applicable laws has the effect of
<br /> � : rendering any provision of the Note or this Security Instrument unenforceable according to its terms,Lender,at its option, i
<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 eaercises this aption,Lender shall take the steps specified in the second paragraph of
<br /> ' paragraph 17. .
<br /> � 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by ''�`
<br /> ;..
<br /> , mailing it by first class mail unless applicable law requires use of another method.The notice shall be directed to the i�.�
<br /> Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br /> , • 8rst class mail to Lender's address stated herein or any oiher 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 Iatw;Severability. 7his Security Instrument shall be governed by federai law and the law of the
<br /> jurisdiction in which the Property is located. In the event that any pr�vision or clause of this Security Instrument or the
<br /> Note wnflicts with applicable law,such conflict shall not att'ect other provisions of this Security Instrument or the Note
<br /> which can be given effect withont the conflicting provision.To this rnd the provisions of this Security Instrument and the
<br /> , Note are declared to be severable.
<br /> 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this 5ecurity Instrument.
<br /> 17. Transfer of the Property or a HeneBcial Interest in Horrower. If all or any part of the Property or any
<br /> interest in it is sold or transferred(or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br /> person)withaut I.ender's prior written consent,Lender may,at its option,require immediate payment in fu11 af alt 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 lnstrument.
<br /> ' If L,ender exercises this option.Lender shall give Borrower notice of acceleration.The notice sha11 provide a period r
<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 5ecurily Instrumeat.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 funher notice or demand on Borrower. � �
<br /> 18.Bonower's Rlght to Reinstate. If Horrower meets certain conditions, Horrower 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 uther period as
<br /> • applicable law may specify for reinstatement)before sale of the Property pursuant ta any power of sale c�mtained in this !
<br /> � Security lnstrument or(b)entry of a judgment enforcing this 5ecurity Instrument Those conditions are that Borruwer.
<br /> (a) pays I,ender all sums which then would be due under this Security Inetrument and the Nc�te had no acceleratiun
<br /> occurred; (b) cures any default of any other ec�venants or agrrements: (c) payc all exrcnser incurred �n enG�rcing this �'`
<br /> Secunty lnstrumcni,�ncluding, but ne�t limrted to, reasonable attorncys' fees; �nd (d) takcti �uch actum a� Lrndcr may �
<br /> rcasrmably requtre t�� a5sure that the hen of th�s Sccunty Instrument, Lender'ti nght� in thr Pn�prrty ,�nd Ilnrrnwer'c .
<br />- ubligaUan te� p�y the tium� tiecurrd hy th�� Secunty Instrument tihall a�nunue unch�nged l;p�m rem�tatement hy r. �
<br /> Hurrnwer.thiti Secunty Intitrumrnt and the„bhgah�mti�ecured herehy�h�+ll remain full}� ef�e�ti�r ati if n��:�creleraUun had
<br /> �n:currcd H��wcvcr.th�ti nght t��rcmtitatc tih.�lf n�rt�pply in thc c�a�c nf ac�cicr:,u��u und�� �,ar.��!i.��,hti 1 z��r 17
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