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<br /> � If Lender required mnMgaga insurance as a condition nP making tht Ivan secured ay this Security lnstrument,
<br /> Borrawer shAll pay the premiums�equired ta maintaie the insurance in eRect until surh time as the�equirement for the
<br /> insurance termin�tes in accnrdance with�rrnwer's and I.ender's written ag�eement nr applicahle l�w.
<br /> 8, lnspeetion. Lender or its agent may make reasonable entries upon and inspections of the Property. l.rnder
<br /> � shall give Barrower natice at the time of or prior to an i�spectian specifying reasunable cause for the iaspection.
<br /> 9. Condemnallon. "i'he proceeds of any award or claim for damages,direct ar consequential,in connection with
<br /> any candcmnation or other taking o�'any pan os the Propeny,or for conveyance in lieu of condemnation. are hereby
<br /> � assigned and shal!be paid iv Lender.
<br /> In the event of a total tuking of the Property,the proceeds shall be applied to the sums secured by this S�*�urity
<br /> ' Instrument, whether or not then due,with any excess paid to Horrower. ln the event vf a partial taking of the Praperty,
<br /> unless Borrower and Lender otherwise agrce in writing.the sums secured by thi�Security Instrument shall be reduced by
<br /> the amount of'the proceeds multiplied by the following fraction:(a)the total amaunt 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 Rorrower.
<br /> IP the Property is abandoned by Borrower� or if,after notice by I.ender to Borrower that the condemnor ofFers to
<br /> __ _-_---- TI1P4P�II!!SV?�f(j OT cP;tln�r���m!'�r d�maots.�4Sf011�er fa4�s tr resF�r.�+*.o LPTlL�ar�»jf hir 7!1�o���nfta�r�}Tp'L�3tP t}I?!lO1SCC'lS
<br /> given,Lender is authorized to collect and apply the proceeds,at its option,either to restoratian ar repair of the Property or
<br /> to the sums secured by this Security Instrument.whether or not then due.
<br /> Unless Lender and Barrower otherwise agree in writing,any applicatian osproceed�to principal shal)not extend or
<br /> � postpone the due date of the monthly payments refetted to in paragraphs 1 and 2 or change the amount of'such payments.
<br /> 10. Borro�er Not Released; Forbearance By I.ender Not a Waiver. Extension of the time for payment or
<br /> � modification of amortization of the sums secured by this �ecurity Instrument granted by Lender to any successor in
<br /> � interest of Bonawer shall not operate to relea.e the liability of the original Honower or Borrower's successors in interest.
<br /> ' Lender shall not be required ta commence proceedings agninst any successor in interest or refuse to extend time for
<br /> ' payment or atherwise modify amortization af the sums secured by this Security I�strument by reason of any demand made
<br /> � ' by the original Borrower or Borrower's successors in interest.Any f�rbearance b}•Le�ider in exercising an}right or remedy . :
<br /> � shall not be a waiver of'or pteclude the exercise of any right ar remed�.
<br /> i11. Successors nnd Assigns Bound;Joint and Severa! Linbility;Co•signers. The covenants and agreements of ' .
<br /> this Security Instrument shall bind and bencfit the successors and assigns of Lender and Borrower.subject to the provisions ; ;
<br /> ; of paragraph 17.Harrower's covenants and agreements shuU be joint and several.Any Bottower who co-signs this Security i- ..-�
<br /> instrwment b�it does not execute the Note:(a)ic c�-signing this Security Instrument only to mortgage,grant and convey �_-�==''-
<br /> � ii�ai avrruwcr�intere+i in ihe?re�erty under the terms oi tnis�ecurity instrument;ibl is not personaiIy obiigated 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 aay accommodations with regard to the terms of this Security Instrument or the Note withaut
<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 /> �harges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in ``—
<br /> : connection with the ]oan 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 whicl�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 Bbrrower. If a refund reduces principal.the reduction wili be treated as a
<br /> • ; partial prepayment without any prepayment charge under the Note.
<br /> 13. I.egislation Affeeting Lender's Rights. If enactment or expiration of applicable iaws has the effect of i ;
<br /> , rendering any provision of the Note or this Seeurity 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 may invoke any remedies
<br /> � permitted by paragraph 19.lf Lender exercises this option, Lender shall take the steps specified in the second paragraph of��,
<br /> ; paragraph 37. 1.�:�
<br /> l4. Notices. Any notice to Borrower provided for in this Security lnstrument shal)be given by delivering it ar by ;�.�•�
<br /> mailing it by fint class mail unless applicable law 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 ctass mail to Lender's address stated herein or any other address Lender designates by natice to Horrouer.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. Governieg Law;Severability. This Security Instrument shall be govcrned by federal law and the law of thc
<br /> jurisdiction in which the Property is located. ln the event that any provision or clause of this Security Instrument or the
<br /> Note confliets with app3ieahlc Iau,sueh cor�8ict shall not affect other pravisions of this Security Instrument or the Note
<br /> � whieh can be given effect withoat the conAicting provision. To this end the provisions of this Security Instrument and the
<br /> Note are declared to be severabfe.
<br /> 16. Borrower's Copy. Borrower shall be given one conformed copy of thc Note and of this Sccurity Instrument.
<br /> IT. Transfe► of the Property or a Beneficial Interest in Borrower. 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 nat a natural
<br /> �erson)without Lender's prior written consent,Lender may,at its option,reyuire immediate payment in full of all cums
<br /> secured by this Security lnstrument. However. this option shall not be exercised by Lender if exercise is pr��hihitrd by '---�-
<br /> federal law as of the date of this Security Instrument. '
<br /> lf i,ender exerc�ses this option.Lender shall give Borrower notice of acceleration.The natice shall provide�period ;
<br /> of not less than 30 days from the date the notice is delivered or mailed within which Borroa•er must pay all wms scrured by
<br /> this Security Instrument.lf Borrower fAils to pay these sums prior t��thc ex��iration of this period. Lendcr may �nvoke any �
<br /> remcdies permittcd by this Security Instrument without further nosice or dcmand on Horrowcr.
<br /> 18. Borrower's Right to Reinstate. If Borrower meets ccrtain cnnditinns. 13orrowcr tih�ll ha�•e thc nght a� ha�c �
<br /> � er�Porcement of th�s Security Insirument discontinued at any time pr�or to the earlicr of:(a)5 dayti(��r�urh othrr peri��ci a.
<br /> apphcable law may s�CC�fy P��r reinstatcmentl before sale of the Property purtivarrt to any pc�wer��f�.ilc r�mt.�inc�i in th��
<br /> _ Secun��•Instrumcnt; ot(b)entry of a judgment enforcing thi�Secunty ln�trunirni Th���e c�mduum�arr ihci� I���rr��urr �
<br /> (a► pays l.rndcr all tium� wh�rh then wuuld be due under th�ti Se�unt�• Intilrurnent and thc �l�uc ha�l n�� a::rc•Icrat+��n yp
<br /> � oceurred. (b� cureti any default uf any uther c<�venan�ti or agreement�; (c) payti al! crren�r� �ncurred �n rnG,rcm�: thi� �1��
<br /> -: St:�urity i���t�uwrn�, �ncluJing, bu� not iim�ted tc�, rcasonabie auorncy�' fcc., and td� tal�rti .urh acuon .i� I cndrr nia} �" �
<br /> �—���s � rca+�u�ably rcyu�rc tn ar�urc that thc licn r,f th�s 5ccurcty lntitrumcnt. Lcnder'� ri�:ht. �n tiir Ni�,�,cit� .�n�i 13„rr�,.�c�.• k" "
<br /> —_ '- r�blig<ihnn ��� 4,ay Iht �umti �ecu�ed by t}uh Security (n�ttumcn� �hail <<,ntinuc un�h.m��i•�i I i�nii ti•n;,t.�tctncn� 1.�
<br /> �� Kr�tr��uc�.Ihr.Sr.unty li�til►ument and lhe��hligatn,nc�ecured h.rehy �hal) tc�n:un tull� ��ftr�:tt��•.i,i1 iu�.�,�:•1rr;�tun� L.i�1
<br /> f. �nc.urr�:d fl��wr��•r.�h��n�;hr tn rcin�tatc�h;,!!n�,t:�ppl� in thc�a�r�,I.i..rlr�.iii,�n un�1�r �•.i� ��•c.���l�. } 3.,r � •
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