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<br />If Lender required morlgage insurance as a condilion of making Ihe loan secured by Ihis Security Instrument,
<br />Borrower shall pay Ihe premiums required 10 maintain the insurance in effecl until such lime as Ihe requirement for the
<br />insurance terminates in accordance with Borrower's and Lender's written agreemenl or applicable law.
<br />B. Inspection. Lender or ils agent may make reasonable enlries upon and inspeclions of Ihe Property. Lender shaH
<br />give Borrower notice al the time of or prior 10 an inspeclion specifying reasonable cause for the inspeclion.
<br />9. Condemn.tlon. The proceeds of any award or claim for damages, direcl or consequential, in connection with any
<br />condemnation or other taking of any part of the Properly, or for conveyance in lieu of conde inn at ion, are hereby assigned
<br />and shall be paid to Lender.
<br />In Ihe evenl of a. lolal taking of Ihe Property, Ihe proceeds shaH be applied 10 Ihe sums secured by Ihis Security
<br />Instrument, whether or not then due, with any excess paid 10 Borrower. In Ihe evenl of a partial laking of Iheproperty,
<br />unless BorrO'A'Cr and Lender otherwise agree in wriling, the sums secured by this Securily 1nslrumenl shaH be reduced-by Ihe
<br />amount of Ihe proceeds multiplied by the following fraction: (a) the total amount of Ihe sums secured immedialely before Ihe
<br />taking, divided by (b) Ihe fair market value of the Properly immediately before Ihe taking. Any balance shaH be paid to
<br />Borrower.
<br />If the Property is adandoned by Borrower, or if, afler notice by Lender 10 Borrower that _the condemnor offers 10
<br />make an award or settle a claim for damages, Borrower fails 10 respond to lender wilhin 30 days after Ihe dale Ihe nOlice is
<br />given. Lender is authorized to collect and apply Ihe proceeds, al ils oplion, eilher 10 resloralion or repair of Ihe Property or
<br />to the sums secured by this Security Instrument, whelher or not then due,
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shaH nol eXlend, or
<br />poslpone the due dale of Ihe monthly paymenls referred to in paragraphs I and 2 or change the amount of such paymenls.
<br />10, Borrower Not Rekawd; forbe.rance B)' boder Not. W.lver. Extension of the time for payment or modification
<br />of amortization of Ihe sums secured by this Security Instrument granted by lender to any successor in interesl of Borrower
<br />shallnol operate 10 release the liability of Ihe original Borrower or Borrower's successors in interes!. lender shall nol be
<br />required 10 commence proceedings agaimt any successor in interest or refuse to extend time for paymenl or otherwise modify
<br />amorlizalion of Ihe sums secured by this Security Instrument by reason of any demand made by Ihe original Borrower or
<br />Borrower's successors in inlerest. Any forbearance by lender in exercising any righl or remedy shall nol be a waiver of or
<br />preclude Ihe exercise of any right or remedy,
<br />n. Suctft50n ..d AssI&ns Bound; Joint and Mveral Llabillt~,; Co-signers. The covenanls and agreements of Ihis
<br />SecurilY Instrument shall bind and benefit the successors and assigns of lender and Borrower, subject to Ihe provisions of
<br />paragraph 17. Borrower's covenants and agreements shall be joinl and several. Any Borrower who co-signs Ihis Securily
<br />Instrument but does not execute the Note: (a) is co' signing this Secmity Instrument only to mortgage, grant and convey that
<br />Borrower's interest in Ihe Properly under the terms of this Security Instrument; (b) is not personaHy obligated to pay the
<br />sums secured by this Security Instrumenl; and (c) agrees that lender and any other Borrower may agree to extend, modify,
<br />forbear or make any accommodalions with regard 10 the lerms of Ihis SecurilY Instrumenl or the Note withoul Ihat
<br />Borrower's consent.
<br />U, Loan Ch....n. If Ihe loan secured by this Security Instrumenl is subjecl 10 a law which sels maximum loan
<br />charges, and that law is finally interpreled so Ihat the interest or olher loan charges collected or to be collecled in conneclion
<br />with the loan exceed the permitted ,limils, Ihen: (a) any such loan charge shall be reduced by Ihe amount necessary to reduce
<br />Ihe charge tOlhepermitted limit; and (b) any sums already collected from Borrower which exceeded permitted Ii mils will be
<br />refunded 10 Borrower. lender may choose 10 make this refund by reducing the principal owed under the Note or by making
<br />a direct payment 10 borrower. If a refund reduces principal. the reduction will be treated as a partial prepaymenl wihoul any
<br />prepayment charge under the Note.
<br />n. Leahlatloa Afledla. Leader's Rlahts. If enactment or expiration of applicable laws has the effecl of rendering any
<br />provision of the Note or this Security Instrument unenforceable according to its terms, lender, at its option, may require
<br />immediate payment in full of all sums secured by Ihis Security Instrument and may invoke any remedies permitted by
<br />paragraph 19. If Lender exercises this option, lender shall lake the steps specified in the second paragraph of paragraph 17.
<br />.4. Nolka. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by
<br />mallin. it by first class mail unless applicab'e law requires use of another method. The notice shaH 0..: directed ,to the
<br />Property ,\ddress or any other address Borrower designates b)' notice to Lender. Any notice to Lender shall be given by first
<br />class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to have been gi\'en to Borrower or Lender when given as provided in
<br />this paragraph.
<br />15. Gonnlilll Law; Mt't'rabUlly. This Securit)' Instrument shall be governed by federal law and Ihe law of the
<br />jurisdiction in which the Property is located. In the event that any provisions or clause of this Security Instrument or Ihe
<br />Note conflicts wilh applicable law, such conflict shall not affect other pro\'isions of this Security Instrument or the Nole
<br />which can be given effect \\ilhout Ihe conflicting provision. To this ~nd the provisions of this Securily Inslrument and the
<br />Note are declared to be severable.
<br />.6. 84m'ewer'. COP)', Borrower shall be given one conformed Copy of the Note and of this SecurilY Instrument.
<br />17. Trulfer of llle Property or . Belldldallalerestla Borrower. If all or any part of Ihe Property or any interest in it
<br />is sold or tr~sferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person)
<br />without Lender's prior written consent, Lender may, at its option, require immediate paymenl 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 federal law as of
<br />the date of this Security Instrument.
<br />If Lender exercises this option. Lender shall give Borrower notice 01 acceleration. The notice shall provide a period of
<br />not less than 30 days from the date Ihe notice is delivered or, mailed wilhin which Ihe Borrower must pay all sums secured by
<br />lhis Security,lnstrumenl. If Borrower fails 10 pay these sums prior to the expi,-.'\tion of this period, lender may invoke any
<br />remedies permitted by ~his Security Instrument without further notice or demand on Borrower. '
<br />11. ~er'. ~, 10, Rriulale. If Borrower meets certain conditions., Borrower shall ha\'e the righl to have
<br />enforcement of this Security Instrumenl discontinued at any time prior to th~ earli~r of: (a) S days (or such olher period as
<br />applicable law may specify for reinstalement) before sale of the Property pursuant to any pnwer of sale contained in this
<br />Security Instrument; or (b) entl)' of ajudament enforcin. this Security Instruinent. Those conditions are that Borrower: (a)
<br />pays Lender all sums which Ihen would be due under this Security Instrument and the Note had no acceleration occurred; (b)
<br />cures any def.ult of any other covenants or qreements; (c) pays all expenses incurred in enforcing this. sKuri!)' Instrument,
<br />illCludin.. but not limited to, reasonab1eattomey'S fees; and (d) lakes such action as Lender may reasonably require 10 assure
<br />that the lien oLlhis Security Inslrument, lender's ri.hlS in Ihe Property and Borrower's obligation to pay Ihe sums secured
<br />by this Securil)' Instrument shall continue unchailJed. Upon reinSlatemenl by Borrower, Ihis Security Instrument and Ihe
<br />obliptio!ls secured hnebyshall remain fully effeeth'eas if no .cce1eration had occurred. HO'A'e\'er, this righl 10 reinltale shall
<br />not apply in the c.seof acceltralion under parqraphs 13 or 17.
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