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<br /> coodemo�tion a odk�Wdt�of oay p�s of tht Propaty.a faaonvey#oc�a�l�ea of coadarm�ion.a��eb7►assi�ed�od ,
<br /> ' dW}bep�d to Lradet� . � , : .
<br /> � ' �n tbc ever�t of a wtal taldns of the P►+opeety,�_prooeeds sh�ll be�pplied to d�e sums �ecuted tiy Ws Sacurity
<br /> • - Ins�uneat.whether ar riot then dne.with aay exoess pliid to Bomowex In the eva�t of a�utid Wrin6 of the�Ptapeety in
<br /> . . wl�ich tbe fair mahet vaU�of the.Prope�ty imnkdiateIy 6efote the taking is eqwl to ar p+eater than the amoNM of the sums'
<br /> secwed by this Security In.�cunxat immedi�teiy befotC the talcing.unkss Bot�ower and Lendet othenuise oi:roe in writing:
<br /> t!k wms�ecuned by this Security.Ga�uma�t sinll�be�oducod by the amowif of Wc pcocceds muRipliod�r Q�e folbwb� ,
<br /> . . Tru,�tion: h)Ihe wt�l an�otu�t of tht sams satued imittediuely 6efa{e the tafdng,divided by t�)the fsir muTcet wlue af Ihe
<br /> � P�firdne�'eatety`3xfae the tatring. My bdance sh�ti be prtd�to Borrower. ln ihe event af a�rtfat t�kit�g o€the ,
<br /> 3n which the fair nurl�et v�tue of the P�operty immediaee{y 6efore the t�kiag is less ttwe►tl�e amount�of ehG aurtu� •
<br /> . � secu�ed Laeudi�tely 6efoe�e the tat�ing.unless Bonower u�d l.ender athe�rvise agree dn wripng,a unksa applicsbk law
<br /> ' dKn duGSe prtwid�s.the.poc�ds sl�all be applied w tfu su�ns secured by this Security tnswment wtKthe�or not the sums are
<br /> .� , �1f thc Ptoperty is aWmda�xd by Bamwer.a if.after notice by I�ender to Bortuwer�hat�he candemnor ofl'ers to m�lce
<br /> • an iw�d a sedle a ctaim for damages.Bo�mwer faits to tespand ro L�ender witisin 30i days after the date tbe notice is given,
<br /> ' •Lerider is wthotiz�d to cotkct aad apply tha pmc�s,at its optia►,either to hestaatiou a npair of tlx Pm�erty a to the
<br /> � sums accu�ed by this Srcuriry Insaumrnt,wl�ether or na dun due. • .
<br /> . ' Unkss l.endet and B�cxrowec aherwise agae ia writing,any applicadon of procads to princi�sal shall not eatend os . —
<br /> • postpone d�e due date of the monthly paymeats refemd to in parag�aphs 1 and 2 a change the arnouncof s�ch payments.
<br /> 1L Eorrower 11jot RdeaSed; Forbearanoe By Lender Not n Waiver. Extension of the pme far payment or .
<br /> modification�of act�octirrrion of the sunis secured by this Security Instniment granted by Lender tb any suecessor irr inteoest � -
<br /> of Barawer shall uot operate to release ttie liabitity of the original Barower or Borrawer s sucxessors in intenst.Lender =
<br /> si�all not be te�ryirod to commence pnoceedimgs�gainst any successbr In interat or refuse to extend time for paymemq� �
<br /> otherwise modify�morti7ation of the sums sxured by this Security Instrument by reason of any demand made by the origina] �•�
<br /> Boaower or Bomovyer§succestors in intcrest. Any forbearance hy I.ender in exeneesing any right or remedy shalt not be a . _--
<br /> waiva of a pieetode the eaesise of a�y right or remedy. --
<br /> 12. S�teeess�ors aed A�es Baaad:Jomt and Severaf I:ability;Co�sigaers. The covenanrs and agreements of this =r
<br /> Security Instrument shall bind and benefit the successors and assigns of Lender and Bormwer,subJect to the provisions of �:__
<br /> paragraph 17.fiorrower�s covenants and agccements shall be joint and several.My Boisower whv co-signs this Se�urity
<br /> t���t but does not execute the Note: (a)is cas� n this Securi Instru�nent onl to mort e, t and conve that �`"��
<br /> �Sn► S �Y Y P�8 � Y �_
<br /> Barowtr�s interest in the Property undcr the tem�s of this Security InswmenC (b)is no!personally o6ligated to pay the sum4� •
<br /> secund by this Security lnsmiment;and(c)agrees thaz I.ender and any other Borrower may agree to extend.madify.forbear
<br /> or maice any �cx:ommodatioas with regard to the terms of this Secunty Inswment ar the Nate w'sd�out that Borrowers .
<br /> consen�
<br /> 13 l.oan C6uges. If the toan securcd by this Securiry Instr�ment is subject to a law�+�ch seu maaimum toan
<br /> charges,and that law is fiaal�+inteipreted so that the interest or other loan charges collected or to 6e coltected'aa connection =
<br /> witb the Ioan exceed Uie peAmu�zd limits,then: (a)any such loan charge shal!be reduced 6y the amount neaessary to reduoe ;: -
<br /> the charge w the pertnitted�iruit;and(b)any sums alieady wllected from Borrower which exceeded permit!ed.tunits will 6e ��'`-
<br /> � refunded ta Borrower. Lender may c3soose to make this rcfund by se8�ecing the principal owed uadre the Note or by making a
<br /> dimct payment to Borrower. if a refu�d reduces principal,the rec�ucribn will be treated as a paatiag pmpayment without any -
<br /> prepaymeat cltarge wrder the Note. :" .
<br /> 14. Notiees. Any notice to Borrower provided for in this Security lnstrument shall be given by deln:ecing it or by
<br /> mailing it by fttst class mail unless applicable law re�uu��s use af another methad.The notice shall be directed to the Property
<br /> Address or any othet addmss Borrower designates 6y nofice to L.ender. Any notice to Lender shall he given by ftrst class '
<br /> �nail to Lender's address stated herein orany other address Lertder designates by notice to Borrower.Any not+ce provided for E,. ,
<br /> in this Security Iastrument shall be deemed to have been given to Borrower or Lender when,_given as provided in this •
<br /> P�B�Ph• . ,
<br /> 15. Governing Lavv:Severa6ility. This Secnrity Instrument shall be govemed by federal law and the law of the
<br /> jurisdiation in which the Pr�operty is tocated. in the event that any provisian or clause of this Securiry Inmument or the Note �,::�
<br /> conflicts with appticable law.sucB conflict shall not affect other provisions of this Security Instrument or the Note which can '
<br /> b e g iven e f fect without the con flioting provision. To t his en d t he provisions o f t hic Security Ira.stcument an d t he Nae ure -
<br /> declared to be severable. '
<br /> tIF. Borrower's Copy. Borrower shalt be given one conformed copy of the Nate and of this S:�urity Instrumen�
<br /> 17. 'Ifrattvfer of the Property or a Bepeficial Ir3erest in Borrower. If atl or any part of the 1Property or any interest in
<br /> it is sotd or transfemed(or if a beneficial interest in Sorrower is sotd or transfemed and Borrower is not a natural person)
<br /> withottt Lertder's prior written wnsent.l.ender may,at its option,require immediate payment in full of all sums secured by
<br /> this Security Instrument. However.thas op:ion shall not be exercised hy l.ender if exercise is prohibited by federal law as oS
<br /> the date of this 5ecurlty Insuument. . -�`
<br /> if Lender exercises this option,Le�zc��r sha11 gi��e$orrower notice of acceleration. The noze�sfiall p�ovi�dQ a period of '
<br /> not less than 30 days from tAe date the natice iw deli��ered or mailed within which Borrower must pag all s::^s sc�:ured by this ;;�,�:�'�,.
<br /> Security Instrument. If Borrower faits to pay thesc sums prior to thc expiration of this period. Lender r,:ay invoke any +-��'��
<br /> temedies permitted by this Securiry tosIIrvment without further notise or demand on Bonower.
<br /> y�>;,
<br /> 18. Borrower's Right to Reinstat� 'tf Borrower meets certain conditions, Borrower sf�a.Il i�ave the right to have � �
<br /> enforcement af this Security Insuum`m discontinued at any time prior to the earlier of: (a)5 days(or such ather periad as �
<br /> Single Family—Fasaie Nae(FreQdk Nac UNIFI)RM INSTRUMENT-•Unifortn Coven�ntc 9'9� (puge4 ojb pages)
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