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<br /> • cundcutnaliun ur ollicr�al,intc uf :my��cut ut Ihc I'iup�ity,�n�I��r cnnvcy:u�cc in licu ul rundrnur�liun.�uc iri��y a„i�;urd:md , , �"
<br /> ,ItnU hc p;�ed tu I.cndcc
<br /> . In Ihe eve�U ��U'n luu�l Inkin� ni' Ihc 1'rupzny, Ihe pruceed, +lu�il be applicd t�i the tium+ �ecund by this S�curity
<br /> ;: ., Invirumcnt. wl�cihcr ��r not thcn duc, �vi�h miy cxcetiti pidd u� Hnrro,vcr. In �hc cvcnt ��P.�partiid uiking uf�hc {'ruperty ii�
<br /> ' ' whi�:P�Ilic fuir u�urkrl vuluc of ihc I'ruperty inuncdinlcly hifurc tlm iaking is cqual to��r�;rrutc;thun ihc.imowu�if ihr�umti �
<br /> : k nccured by Ihlrc Sccurlly Inslrumcnt immcdiatcly bcti►rc Ihc utking. unlctis Uorrowcr awd Lcudcr olltcrwi�c ngrcc in wriling. . `
<br /> „ ., �he tiume�;ecureel hy thiti tiecurily Ins�rument sl�iill tx� reduced by Il�e:unowu uf�he pruceeds mulUplieil hy tlie fnllowin� I ..,,
<br /> fractit�n: l:t)ihe tntul��moueN ui� Ihe�unn�ecurcd imnudiutcly beti�rc the IakiuR.divided Ny(h)ihc fuir market v:due i�f thc � ,
<br /> �� {'ro��ty irnnudiutcly bcinn�Uic tnking. Any hulnncc tihidl tx ��uid tu Butrower, ln Ihc cvc�tl uF u partilil takin� uf Ihe ,
<br /> I'roperty in whie:h du fi�ir i»nrkct value nf tlic Pruperty inunedintely Ik furc thc i;,kin�;is Ic+s thm►ihc muount af ihr yum+
<br /> .�,� sccurcd immccfiutcly Inti�rc ihc tnking, unles, l3urrowcr �uid Lcndcr nthcnvitic abrcr in writin� ur unlcti. applic+►Nlc law "
<br /> uthcrwisc provides,thc prucccdti shall hc{ipplicd to thc sum+,ccurcd hy this S�ruriry Instrument whethcr ur nnt the sums are
<br />_ thcn duc. . '�'�►,
<br /> If Ihc Pmpeny is abanilnnc�l by E�orrowcr,ur if. afler noticc hy Lcniler io tiorcowcr that thr condemnor uffrrs t��makc -�� '
<br /> •in award ar�ettle u elaim fordam�i�cs,Rnrcinvrr f:�ilti to re+pund tu LenJer within 3(1 d;�ys nfter lhe d�ite the noticc iti give�e,
<br /> Lendcr is authorizcd to collcct and apply thc procceds.at i[s��ptiun,cithcr to retiloration or rcpair uf thc Property or tn�hc • •.,tG
<br /> � sumti secured hy this Security Invtrument,�vhcthcr or nrn then duc. �"�� '
<br /> - Unletis LcttJcr and Borrowcr otlicrnisc agrcr in writinb,any appiication of procceds to principal shall not extcnd ur ,� �
<br /> pustponc thc dur datc nf the montlily payments rc4crr�d to in pc�riigraphs I and?or change thc umuunt of such payrnents. o �
<br /> 11. Borra�ser Not Relensed: I�orbevrnnce liy l.ender Nnt u Wiilver. Extension uf the timc f��r paymcnt ��r : "
<br /> � madification of amortir.ution of'the sums zecureJ by this Security Instrument grunted by Lender to uny ruccessor in interetit •- . ,�r
<br /> of Borrowcr shull nut oncrutc ta rcicasc thc liubiliry of thc original Horrowcr ur Borrowcr's tiucccssan in int:rest. Lcndcr �1 �;
<br /> � shall not be reyuircd to comm��xce pr�k�edings aguinst any suceessor in intere.t or refuse to extend time for payment��r "
<br /> � otherwise modify amortizatian of the surns secured by this Sccuriry In�trumcnt by rca�un of any demand made hy the original
<br /> Borrower or Bormwer� succection in interest. Any forhrar:uice by Lender in exercising any right or remedy shall not he u •
<br /> wuiver of or prccludc the exercise of any right or rcmcdy. �" . " L
<br /> 12. Succes.sors apd Assfgns Bound;,lolnt und Severul Lia�ility;Co•st�ners. The covenants and agrecments oF thi, ��
<br /> ' .. Securiry[nstrument shaU bind und hcnefit the surcetitiors and a+signs of I.ender and Borruwer.�ubject to the provitiians of . _
<br /> p.�uagraph 17. Bortower's covenants and agmcment, shall hc juint und +evrral. Any Borrmver who co-signs this Security
<br /> Instrument but does not execute the Note: (a)i,co-signing this Srcurity[nstrument only to moitgage,gr.�nt and convey that
<br /> Borrower ti interest in thc Property under tl�e tertns of this Securiry In+trument: (b)is not penunally obligated to pay the swn� '.� , ,
<br /> secured by this Securiry Instrumem;und(r)agrcc.thi�t LenJer and any other Borro�ver may agree to rxtend,modi(y,forhear
<br /> or ma'.cc am accommodations v�•ith regard to thc tcmi� ot thi1 Srcurity Instrumrnt or thc Notc without that Borrowcr'� � !`
<br /> ..��,
<br /> consent.
<br /> ` . t3. Loan Char�es. 1f thc loan xcurcd by thi� Sccurity Imtrurncnt is �ubject to a law which s�rts maximum loan , �"' �
<br /> C�la�f�'CS,and that law is finally interpreted so that thc mtercst or�nher loan cnar�ex coiiccced ur w oc coiirciru iu wuucciiun
<br /> with the loan exceed the perniitted limits,then: (u)any such lo:m rhargc shall be reduced by the amount necessary to reduce ����� � � •x�
<br /> the charge to the permitted limit:and(b)any sums already coUected from Borrower which excceded pertniued limits will he '� �� �S � .:
<br /> • refunded to Borrower. Lcnder may choose to muke this refund by redur ing the principal owed under the Note or by muking:� ` �
<br /> y j
<br /> direct payment to Borrower. [f a rcfunJ reduces principal,the reduction will be treated a�a partiul prepayment without any ,
<br />_ prepayment charge under the Notc. °. '
<br />� 14. Not:ees. Any notice to Borrower provided for in this Sec�rity In+trument shall be givf:n by delivering it or by � �: �:
<br />� mailing it by first class mail unless applicable law reyuires use of another mrthod.The notire shall be dimcteJ ro the Property .��'
<br /> Address or:my other address�orcower Jesignates by notiee to Lender. Any nctice to Lender shall be given by fint class j `
<br /> � mail to Lender's address stated herein or any other uddrcss Lender designates by notice to Borro�ver. Any notice provided for �;��� ��e,.� •�`
<br /> in this Security Instrument shall be deemed to havc bcen given lo Borrower or Lcnder when given as provided in ihis , , �.
<br /> parug�aph. • •��� .
<br /> � • 15. Governir��Latv; Sevcrnbility. This Securiry Instrument shall be govcrncd by feder.�l law cind [he law of the ,
<br /> � juasdiction in which the Propeny is located. ln the evcnt[hat:�ny provision or clausc of this Securiry Instrument or the Note � •`'.,,� •
<br /> conflicts with applicable law,such conflict shall not at'fect other provisions of this Security Instn�ment or the Note which can . *��
<br /> • be given effect �vit6�out [he contlicting provixion. To this end the provisions of this Seruriry Instrument and thc Note are _ � •
<br />= declared to be sever�ble. ,
<br />- 16. BorroNer's Copy. Botrower sh311 be given one confortned ropy of thc Note cind of this Security[nstrument. -'''.
<br /> • 37. 'I�nnsfer of the Property or n Bene6ciul Interest in Borrower. If all ur any part nf thc Prnperty or any intercst in f = ''
<br /> it is sold or transfcrrcd (or if a beneficiul interest in Borrower is sold c�r transferred and Bormwcr is not a nawral petson) r'��`
<br /> .. � without Lender's prior written consent,Lender may, at its option, rcyuire immediatc payment in full of all sums xecured by �.; i�
<br /> this Security Instrument. However,this option shall not be exercised l�y Lende�if exercise is prohibited by federal la���as of -;_.+,t{
<br /> �' � the date of this Security Instmment. ��'- f
<br /> � IF Lender exePSises this option,Lender shall givc Borro�ver noticc of acceleration. The notice shall provide a period c,f �� �� .
<br /> � • not less than 30 days from the date the noticc is delivered or mailed within which Borrowcr must pay all::ums secured by th is �"`', �
<br />= Securiry [nstn�ment. If Borcower fails to pay thesr sums prior to the cxpiration of this period. Lender muy invokc any
<br /> � :
<br /> �, remedies pertnitted by this Sccuriry(nstrument without farther noticc or demand on Borrowcr. i �'
<br /> � � 18. Bur�oxer's K(ghl to Reinstate. If Borrower meets rertain conditions, Hurrower shall have thc right to havc I _} ,
<br /> � enforcement of this Sccurity lnstrumcnt discontinucd at any time prior to the earlier of: (a)S days(or such other period a+ . �
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