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<br />at the option of Lender, if. mortgage insurance coverage \fn thf, amount and for the period that Lender requires)
<br />provided by an insurer approved by Len~ again becomes available and is obtained. Borrower shill pay the premiums
<br />required to maintain mortgage insurance in effect, or to provide a lOllS rmerve, t1"ltll the ~uirement for mortpge
<br />insurance ends in accordance with any written agreement between Borrower lIt1d LewJer or apphcable law. .
<br />9. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall
<br />give Borrower notice at the time of or prior to an inspection specifying reuonable cause for the inspection.
<br />10. Condemnation. The proceeds 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 conveyMCe in lielJ of condem~tion, 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 aPPlil'd to the sums secured by this Security
<br />Instrument. whether or not then due, with any elc:ess paid to Borrower. In thll event of a partial taking of the Property in
<br />which the fair market value of the Property immediately before the taking is equal to or greater than the amount of the
<br />sums secured by this Security Instrument immediately before the taking, unlees Borrower ar.<tLender otherwise agree
<br />in writing, the sums secured by this Security Instrument shall be reduced by the amount of the procetlI:1e multiplied by
<br />the following fraction: (a) the total amount of the sumsllCCUred immediately before the taking, divided by (b) the fair
<br />market value of the Property immediately before the taking. Any bala~ shall be plid to Borrower. In the event of a
<br />partial taking of the Property in which the fair market value of the Property Immediately before the takin, Is lees than
<br />the amount of the sums secured immtdiately before the taking, unless Borrower and Lender otherwise aareo In writing
<br />or unloss 6pplic8ole law otherwise provides, the procecda shall . be Ipplled to the sums secuted by this Security
<br />Instrument whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or ff, after notice by Lender to Borrower that the condemnor offers to
<br />make an award or settle a claim for d.1mages, Borrower fails to n=spond to Lender within 30 da)"S after the date the
<br />notke ie given, Lender is authorized to collect and apply the pt\)CCtl'..ds, at its option, either to restoration or repair of the
<br />Property or to the sums secured by this Security Instrument, whether or not then due.
<br />Unless Lender and Borrower otherwise agree in writing, any applicetion of~!l to principal shall not el1cnd or
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of 8UCh
<br />payments.
<br />I L Borrower Not Rclel~d; Forbearance By Lender Not a Waiver. Ertension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in
<br />interest of Borrower shall not operate to release the liability of the origitull Borrower or Borrower's successors in
<br />interest. Lender shall not be :!"eGuired to commence proceedings against any st>>cces90r in interest or refuse to enend
<br />time for payment or otherwise modify amortization of the sums geCUred by this Security Instrument by teI90n of any
<br />demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in erercising
<br />any right or remedy shall not 'be a waiver of or preclude the exercise of any right or remedy.
<br />12. Successors and Assigns Bound; Ioint Ind Several Liability; Co-si,ners. The covenants and agreements
<br />of this Security Instroment shall bind and benefit the successors and assigns of Lender and Borrower, lr.Jbject to the
<br />provisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrol.o;:r who cO'"8igns
<br />this Security Instrument but does not elecute the Note: (a) is co-signing this Security Instrument onl)' to mortgage,
<br />grant and convey that Borrower's interest in the Property tInder the terms of this Security Instrument; (b) is not
<br />personally obligated to pay the l'lums secured by this Security Instrument; and (c) agrees that Lender and any other
<br />Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security
<br />Instrument or the Note without that Borrower's consent.
<br />13. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan
<br />charges, and that law il'l 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 ruch loan chargt'! 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
<br />exceeded permitted limits will be r<lfunded to Borrower. Lender may choose to malee this refund by reducing the
<br />principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction
<br />will be treated as a partinl prepayment without any prepayment charge under the Note.
<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 requires use of another method. The notice shall be directed to the
<br />Pro pert). Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br />first clas..,; mail to Lender's address stated herein 01' any other address Lender designates by notice to Borrower. Any
<br />notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given
<br />as provided in this paragraph.
<br />15. Governing Law; Severability. This Security Instrument sl1",1! be governed by 'ederallaw and the law of the
<br />jurisdiction in which the Property is located. In the event that any pi 'Ovision or clause of this Security Instrument or the
<br />Note conflict,; w:th applicable law, such connict shall not affect other ~ov:o;ions of this Security Instrument or the Note
<br />which \:an be given effed without the conflicting provision. To this end the provisions of this Security Instrument and
<br />th~ Note are declared to be severable.
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