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<br /> ' lf Lendtr requlred mortgagt insurunce as t► condition of making the loan secured hy this Secu�ity Insteumenc.
<br /> � Borrower shal! pay the premlums required to maint:ein the insurance in ciitct until such time as the requirement for the
<br /> insursnce terminates in �ccordxnce with Bor�awer's and Lender's written aareement or applicable law.
<br /> ' a. Ia�PecQo�. Lender or its agent may make reasanable eatries upon and inspectians af the Property. Leitder shull
<br /> i �ve Bonowe� notice at the time oP or p�ior to an inspzction speclfying rcasonable cause far the inspectian.
<br /> ; 9. Co�deiaaatioe. The proceeds oi'any award or claim for damages, direct or consequential, in connection with any
<br /> I condemnation ot oihdr taking of any part of the Praperty, or for conveyancs in lieu of condemnation, are hereby assigned
<br /> � and sh�ll be paid to Lender.
<br /> In the event of a total taking of the Propeny, the proceeds shall be applied to ihe sums secured by this Security
<br /> instrument. whether or not then due, with any e�cess paid ta Borrower. in the event of a partial taking of the Propeny.
<br /> unless Borrower and Lender otherwise agree in writing, the sums secured by this Security lnstrument shall be reduced by the
<br /> amount of the proceeds multiplied by the following fraction: (a)the total amount of the sums secured immediately before the
<br /> taking. dlvideci by (b) the fair market value of the Propotty immediately before the taking. Any balance shall be paid to
<br /> Sonower.
<br /> If the Property is adandoned by Borrower. or if, after notice by Lenuer to Borrowcr that the condemnor offers to
<br /> make an award or settle a claim for damages. Bonower fails to respond la l.ender within 30 daye after tho dato the notice is
<br /> given, Lender is authorized to collect and apply thr procoeds, at its option. either to restoration or repair of the Propeny or
<br /> to the sums secured by this Security lnstrument, whether or not then duc.
<br /> Unless Lender and BonoKtr otherwise agrce in writing. any application of proceeds to principal shall not extend or
<br /> postpone the due date of the monthly payments ref'erred to in paragraFhs 1 and 2 or change the amount of such payments.
<br /> 10. BorroNer Not Reka.�ed: Forbe�rance By Lender Not a W�iver. E�tension of the time for payment or modifIcation
<br /> of amorUution of the sums secured by this Security lnstrument granted by Lender to any successot in interest of Bonower
<br /> shalt not operate to release the liabilily o! the original Barrower or Borrower's successors in interest. l.ender shall not be
<br /> requlred to commence proceedings against any successor in interest or refuse to ettend time for payment or atherwise modify
<br /> � amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or
<br /> Bonower's succe:sors in iaterest. Any forbearance by Lender in exercising any right or romedy shall not be a walver of or
<br /> � preclude the exetciu of awy right or remedy.
<br /> 11. Succe�.wr� �nd As�i� Bout�d: Joint �nd Secernl Li�billty; Co-si�aers. The covenants and agreements of this
<br /> Security Instrument shall bind and bene�t the successors and assigns of Lender and Bonower. subJect to the provisions of .
<br /> paragraph 17• Bonower's covenants and aareements shall be joint and several. Any Borrower who co-signs this Security '
<br /> Instrument but does not execute the Note: (a) is casigning this Security Instrument only to mortgage. grant and convey that �
<br /> Bonower's interest in the Property under the terms of thls Security lnstrument: (b) is not petsonally obligated to pay the ' �
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<br /> forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that � �
<br /> Bonower's consent. �
<br /> � l2. Loaa C6tr�e�. If the loan secured by this Security Instrument is subject to a law which sets maaimum loan i -
<br /> charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection _
<br /> ! with the loan exceed the permitted limits. then: (a) any such loa» charge shall be reduced by the amount necessary to reduce
<br /> } the charge to the permitted limit; and (b) any sums already collected from Borrow�er which exceeded permitted limits will be � ;,��
<br /> refunded to Borrower. Lender may choose ta make thls refund by reducing the princ9pal owed under the Note or by making . _
<br /> a ditect Dayment aa borrower. If a refund reduces principal, the reduciion will be treated as a partial prepayment wihaut actiy � �:�
<br /> prepayment chuae under the Note. � '
<br /> 13. I,e�lilatlon AffecHn� Leeder'a Rlg6t�. If enactment or expiration of applicable laws has the effect of rendering any �
<br /> provisian of the Note or this Security Instrument unenfotceable according to its terms. Lender. at its option. may require :
<br /> � tmmediate payment in fuU of all sums secured by this Secnrity lnstrument and may invoke any remedies permitted by ; � .
<br /> pasngraph t9. If Lender eaertises this option, Lender shall take the sueps spe�i�ed in the second paragraph of paragraph t7.
<br /> 14. Notices. Any notice to Borrower provided for in this Serurity lnstrument sha11 be given by delivering it or �y ;��
<br /> mailing it by first class mail unless applicable law requires use of anothtr method. The notice shall be directed ta the �
<br /> Property Address or any other address Bonower designates by notice to Lender. Any no!ice to Lender shall be given by �rst •.r�s
<br /> class mail to Lender's address stated herein or any other address Lender designates by notice to Bonower. Any notice . , i
<br /> provided for in this Security Instrument shali be deemed to have ba[c given to Borrower or i.ender when given as provided in '
<br /> this paragraph.
<br /> !S. Governief I,�w; Sevenbility. This Security Ea�strument shall bt governed by federal law and the law of the
<br /> jurisdiztion in which the Property is located. !n the ei�at that any provisions or clause of this Security Lnstrument ar the �
<br /> Note conflicts writh applicable law, snch conflict shall aot affect othtr provisions of this Security Instru�ent or tht Note i
<br /> which can be gi�-en effect without the conflicting provision. To this end the provisions of this Security lnstrument aad the �
<br /> Nott art dufared to br scverabte. , :
<br /> 16. Borro�rer'a Copy. Bonower shall be given one conformed Copy of the Note and of this Security Instrument.
<br /> 17. '�n�fer of!6e Pmperty or s Beneficlsl Ieterest le Borrower. If all or any part of the Property or any interest in it
<br /> es sold or ttansferred (or if a beneficial interest in Horrower is sold or transfened and Borrower is not a natural person) �
<br /> without i.ender's prior written consent. Lender may, at its option, require immediate payment in full of all sums secured by
<br /> �� this Security. Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by ftderal law as of �
<br /> the date of this Security [nstrument.
<br /> If Lender ezercises this option, Lender shall give Borrower notice of acceleration. 'fhe notice shall provide a ptriod of
<br /> not less than 30 days from the date the notice is delivered or mailed within which the 8orrower must pay all sums secured by ___ _ __
<br /> - this Security lnstrument. tf Borrower fails to pay those sums prior to the expiration of this period, i.ender may invoke any � ; �
<br /> � remedies permitted by this Security instrument without further notice or demand on 9orrower.
<br /> 1S. Borrow�er's We6t to Rei��tate. if Borrower meets c�rtain conditions. Borrower shall have the right to have '
<br /> � enforeement of this Security Inctrument discontinued at any time prior to the earlier of: (a) 5 days (ot such other period as
<br /> � applicable law may spccify for reinstatement) before sale of thr Property pursuant to any power of sale contained in this
<br /> � Securiey instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditians are that Borr�wer: (a) t
<br /> pays Lender all sums which then woutd be due under this Security Instrument and the Note had no acceleration occurred; (b) �
<br /> --- � � cures any default of any othsr covenants or agreements; (c) pays all expenses incurred in enforcing this Security lnstroment, �
<br /> �•� inctuding. but not limited ta, reasonable attorney's fees; and (d)takes such action as Lender may reasonably require to assure
<br /> -- � that tht litn oi this Steurity Instrument, Lendtr's rights in the Property and Horrower's obligation to pay the sums secured ��
<br /> � � by tnis Security inst��emrn[ si�ail continue unchangtJ. Upun reinstatement 'vy Bureower, th�, Security lnslrorner,t and the ���
<br /> y; � obliaalions secured hereby shpll remain fully effective as if no acrelerauon had occurred. Nowe��er, this nght to reinstate shall
<br /> �r�� not apply �n the case of acceleration under paragraqhs 13 or 17. . �
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