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<br /> : 89-- 1066�7
<br /> � IP Lender rcquircd martgagc insurance as�a condition of making the loan sscured by this Sccurity Instrument,
<br /> Horrower shall pay the premiums required to maintain the insurancc in effect until st�ch time as thc requirement for the
<br /> insuraac�terminates in accordance with Eorrower's and Lender's written agreement or applicable law.
<br /> B. Inspectlon. Lender or its agent may make rcasonable entries upon and ir,spections of the Property. Lender
<br /> . shall give Borrower natice ae the time of'or prior to an inspection specifying reasonable cause for the inspection.
<br /> 9. Condemnation. The ptoceeds 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 convcyance 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 applitd 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 Borrawer and Lender othenvise agree in writing,thc sums securcd 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 Propeny 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 sottle a claim for damages,Borro�ver fails to respond to Lender within 30 days after the date the notico is
<br /> given,Lcnder is authorized to collect and apply the proceeds,at its option,either to restoration or rcpair of the Property or
<br /> to the sums secured by this Security Instrument,wliether or not then due.
<br /> Llnless Lender and Borrowor otherwise agree in writing,any application of proceeds to principal shall not extend or
<br /> postpone the due date of the monthly payments referrcd to in paragraphs l and 2 or change the amount of such payments.
<br /> 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br /> modification of amortization of the sums secured by this Security lnstrument,granted by Lender to any successor in
<br /> interest of Borrower shall not operate to release the IiAbility af the original Horrower or Borrower's successors in interest.
<br /> Lender 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 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 /> sha1)not be a waiver of or preclude the exercise of any right or remedy. . .
<br /> 11, Successors and Assigns Bound;Joint and Several Liability; Co-signers. The covenants and agreements of
<br /> this Security Instrument shalt 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 s�veral.Any Borrower�vho ca-signs this Security
<br /> Instrument but does not execute the Note:lal ic�n.c�gniro th,�gezu�=i�jn�trasr.eat arsly r��a;igagc,�rn;;t anci conv�yr �
<br /> that Borrower s interest in the Property under the terms of this Security lnstrument;(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 terms 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 callected 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)an��sums already collected from Bonower which exceeded
<br /> permitted limits wil) be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed
<br /> , �nder the Note or by making a direct payment to Bbrrower.If a refund reduces principal,thc reduction will be treated as a ;
<br /> partial prepayment withovt 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 ar�y provision of the Note or this Security Instrument unenforceable according ta its terms,Lender,at its option, � �
<br /> may require immediate payment in full of all sums secured by this Security Instrument and mas ;avoke any remcdies '�•� �,
<br /> p�rmitted by paragraph f g.If Lender exercises this option, Lender shall take the steps specified in the second paragraph of
<br /> paragraph ]7. ;�
<br /> 14. Notices. Any natice to Borrower provided for in this Security Instrument shall be gi�•en by delivering it or by '
<br /> mailing it by first class mail unless applicable la�v requires use of another method. The notice shall be directed to the
<br /> Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br /> first tlas:mail to Lender's address stated herein or any other address Lenderdesignates by notice co 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 Instrument shall be governed 6y federal law and the law of the
<br /> jurisdiction in which the Propecty is located. In the event that auy provision or clause of this Security Instrument or the
<br /> Note conflicts with applicable law,such canfliet shall not affect other provisions of this Security Instrument or the Note
<br /> � which can be given effect without the conflicting provision. To this end 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 Security Instrument.
<br /> 17. Transfer of the Property or a Beneficial Inierest in Borrower. 1f all or any part of the Property or any
<br /> interest in it is sold or transferred(or i}'a beneficial interest in Borro�ver is sold or transfcrred and Borrower is not a natural
<br /> person)without Lender's�rior written cansent. Lcnder m:ty, at its option, requirc immcdiate payment in full of all sums
<br /> secured by this Security Instrument. Howcver, this option shall not be cxerci�ed by Lender if exercisc is �rohibitrd by `- --"`_-
<br /> federal law as of the date of this Security lnstrument. �
<br /> If Lender exercises this option,Lender shall give Aorro�ver notice of acceleration.The noticr shall provide a period
<br /> of not Iess than 30 days from the date the notice is delivered ur mailed within�vhich I�orro�vcr mu�t rap all sums secured by
<br /> this Security lnstrument. If Borrower fails to pay thesc sums prior�o thc czpiration of�hiy period, I.ender may�nvnkc any
<br /> remedies permitted by this Security Instrument without furthe:r nutice or dcmand on Borr�n�cr.
<br /> 1$.Borrower's Right to Reinstate. If�3orrower mce�s certain ccmditinnti, 13�rrow�r tihall h��•r thr nght Ic� h�ve al
<br /> L • enforcement of this Security Instrument discontinued at any time p;;ar to the earficr or:(a)5 dn��ti(or surh othcr per�c�d a�
<br /> applicable law may specify for reinstatrment)before sale of the Property��ursuant to any pow�r�f ti:,lr�c�n�,,inrcl in thi� �'
<br /> Securiry Inslrument;or(b)entry of a judgment enfarcing this Security In�trumcnt. Th�>sc crn�divan,arr th.�i 13orrc�ncr �
<br /> (a) pays Lender all sums whirh then would be due under thi� Secunty Instrumem and the Nnte had nn ;�rccicr.,r,�n t~D•
<br />: oceurred; {b) cures any default oPany other eovenantti or agreements: (c) payt all expense� incurrrd in rnforc�n�; thi. �„!�!
<br /> � Security lnstrumen�, including, bui not limited to, reasot�a�ble attorncys' feeti; and (d) takcs tiurh actum ;�� l.cndrr m:,� �
<br />- reasonably reyuire t� assure that the lien of th�s Secunty lntitrumcnt, Lender's nght� in the f'n•�c�t� an�i R,�rrrurr'ti '
<br /> obhgation to pay the sums sccurcd by this Sccurity Intitrurncnt ah:ill c�nnnuc un�h:inFrd 1'��m ie•�ii�r,it�•rnrrit l�s
<br /> IIorrower,thicSecurity instrument and the�hh�;:�heim�.ecure�t herch} �h.ill rern:nn (u11� r(}i•critic„�t r��,,�„�•i�•,,tr�,u� !�,�,_)
<br /> otcurrcd lfowcvcr,ch�s right to rzinstatc�h.�ll n�,t;tr��l: u;tlir c,,�r��f.ir�rli•r.�li�u�uridcr��.u.,�•i.i�,l�� ; ���i ;'
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