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<br />Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the
<br />insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law,
<br />8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection,
<br />9. 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 conveyance in lieu of condemnation, 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 applied to the sums secured by this Security
<br />Instrument, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security instrument shall be reduced by
<br />the amount of the proceeds multiplied by the following fraction: (a) the total amount 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 Borrower,
<br />[f the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to
<br />make an award or senle a claim for damages, Borrower fails to respond to Lender wit!lin 30 days after the date the notice is
<br />given. Lender is authorized to collect and apply the proceedS, at its option, either to restoration or repair of the Property or
<br />to the sums secured by this Security Instrument, whether or not then due.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of such payments,
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension 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 original Borrower or Borrower's successors in interest.
<br />Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy
<br />shaH not be a waiver of or preclude t he exercise of any right or remedy.
<br />11. Successors and Assigns Bound; Joint and Several Liabilit)'; Co.signers. The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security
<br />Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to morlgage, grant and convey
<br />that Borrower's interest in the Property under the terms of this Security Instrumcnt; (b) is not personally obligated to pay
<br />the sums secured by this Security Instrument; and (e) agrees that Lender and any other Borrower may agree to extend,
<br />modify, forbear or make any accommodations with regard to Ihe terms of this Security Instrument or the Note without
<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 />charges. and that law is finally interpreted so that Ihe interest or other loan charges collected or to be collected in
<br />connection with the loan 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 which exceeded
<br />permitted Iimils 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 Borrower. If a refund reduces principal, the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Note. .
<br />13. Legislation Affecting lender's Rights, If enactment or expiration of applicab]e laws has the effect of
<br />rendering any provision of the Note or this Security Instrument unenforceable according to ils terms, Lender, at its option,
<br />may require immediate payment in full of all sums secured b}' this Security Instrument and may invoke any remedies
<br />permiued by paragraph] 9, If Lender exercises this option, Lender shall take the steps specified in Ihe second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Security Instrumenl shall be given by delivering it or by
<br />mailing it by first class mail unless applicab]e law requires use of another method, The notice shall be directed to the
<br />ProperlY Address or any other address Borrower designates by notice to lender. Any notice to Lender shall be given by
<br />first class mail 10 Lender's address stated herein or any other address Lender designates by notice to Borrower, Any notice
<br />provided for in this SecurilY Instrument shall be deemed to have been given to Borrower or Lender when gi\'en as provided
<br />in this paragraph,
<br />IS. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the
<br />jurisdiclion in which the Property is located, In the event that any provision or c1ausl.' of this Security Imtfllment or the
<br />Note conflicts with applicable law, suc!!. conflict shall not affect other provisions of this Security Instrument or the Note
<br />which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the
<br />Note are declared to be severable,
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any pari of the I'roperty or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a nat ural
<br />person) without Lender's prior written consent, Lender may, at its oplion, require immediate payment in full of all Sums
<br />secured by this Security Instrument. However, this option shall not be exercised by lender if exercise is prohibited by
<br />federal law as of the date oflhis Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleratiun, The nOI ice shall providc a period
<br />of not less than 30days from the date the notice is delivered or mailed within ",hich Borrower must pay all sums secured by
<br />tl1is Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any
<br />remedies permitted by this Security Instrument withoul further nolice or demand on Borrower.
<br />IS: Borrower's Right to Reinstate. If Borrower meets cerlain condilions, Borrower shall have the right to have
<br />enforcement of this Security Instrument discontinued at all)' time prior to the earlier of: (a) 5 da)'~i (or ~uch other period as
<br />applicable law may specify for reinstatement) before sale of the ProperlY pursuant to any power of sale contained in this
<br />Security Instrument; or (b) cntry of a judgment enforcing this Security Instrument. Those conditions are Ihal norrower:
<br />,(a) pays Lender all sums which then would be due under this S~curity Instrument and the Note had 110 acceleratioJl
<br />occurred; (b) cures any default of any other covenants or 'agn:ements; (c) pays all cxpenses incurred ill cnforcing Ihis
<br />Security hmrument, including, but not limited to, reasonable attorneys' fees; and (d) lakes such action as lCllder lIlay
<br />reasonably require to assure that the lien of this Security Instrument, Lender's nghts ill the ProperlY and norrower's
<br />obligation to pay the sums secured by this Security ]nstrumcnt shall continue unchanged. Upon rcimtatel11Clll b)'
<br />Bor rower, this Security Instrument and the obligations secured IIl:rcby shall remain fully effcctivc OIS if no acceleration had
<br />occurred. However, this right to reinstate shall not apply inthc casc of accelerat ion under pamgraph, I) or 17
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