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<br />88- 101597
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<br />If lender required mortgage Insurance as a condition of making the loan sccur(Jd by the Securlly Instrument, Borrower shall pay the
<br />premiums required to maintain Ihe Inaurance In effect unt1l such time as tho requirement for the Insurance terminates In accordance with
<br />Borrower's and Lender's written agreement or applicable law.
<br />8. Inspactlon. lender or Its agent may make reasonable enlrles upon and InspectIons of the Property. lender shall give Borrower
<br />notice atlha time of or prior to an Inspection specifying reasonable cause for Ihe Inspection.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, In connection with any condemna,
<br />tlon or other taking of any part of the Property, or for conveyance In lieu of condemnation, are hereby assIgned and shall be paid to
<br />Lender,
<br />In the event of a total taklng of the Property, the proceeds shall be applied to the sums secu'ed by this Security Instrument, whether
<br />or not then due, with any excess paid to Borrower, In Ihe event 01 a partial taking 01 the Property, unless Borrower and Lender otherwise
<br />agree In writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following
<br />fraction: (a) the total amount of sums sccured Immedlat'lly before tho taklng, divided by (b) the lair market value of the Property Immediately
<br />before Iho taking. Any balance shall be paid to Borrower.
<br />II the Property Is abandoned by Borrower, or It, alter notice by lender to Borrower thaI the condemnor offers to make an award or
<br />seltle a claim for damages, Borrower falls 10 respond to lender within 30 days alter Ihe date the nollce Is given, lender Is authorized to
<br />collect and apply the proceeds, at Its opllon. either 10 restoralion or repair of Ihe Property or to the sums secured by thIs Security
<br />Instrument. whether or not then due.
<br />Unless lender and Borrower othcrwiss agree in writing, any application of proceeds to princIpal shall not eKlend or postpone the due
<br />date of the monthly paymenls referred to In paragraph 1 and 2 or change Ihe amount of such payments,
<br />10. Borrower Not Released; Forebearance By Lender Not a Waiver. EKlenslon of the time lor payment or modifi.
<br />cation of amortization of the sums secured by this Securily Instrument granled by lender to any successor In Interesl of Borrower shall
<br />not operate to release the liability of the original Borrower or Borrower's successors In interest. Lender shall not be required to commence
<br />proceedings against any successor In interest or reluse to extend time lor payment or otherwise modify amortization 01 the sums secured
<br />by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors In Interest. Any forbearance
<br />by Lender In exerclsing any right or remedy shall not be a waiver of or preclude the exercise 01 any righl or remedy.
<br />11. Successors and Assigns Bound; Joint and Several Liability; 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 of paragrRph
<br />t7. Borrower's covenants andagreemenls shall be joint and several. Any Borrower who co-signs this Security Instrument but does not
<br />execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant, and convey that Borrower'3 Inlerest In the Property
<br />under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Securily Inslrument; and (c)
<br />agrees thllt lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to terms of
<br />this Security Instrument or the Note without Ihat Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Security Instrumenl is subject to a law which sets maximum loan charges, and
<br />that law Is finally Interpreted so thai the interest or other loan charges collecled c.r to be collected in conneclion with the loan exceed the
<br />permitted lim1ls, then; (a) any such loan charges shall be reduced by the amount necessary to reduce the charge to the permitted limit;
<br />and (b) any sums already collected lrom Borrower which exceeded permilled limits will be refunded to Borrower. lender may choose to
<br />make this relund by reducing the principal owed under the Note or by making a direct payment to Borrower, If a refund reduces principal,
<br />the reduclion will be treated as a pl.lrti81 prepayment without any prepayment charge under Ihe Note.
<br />13. Legislation Affecting Lender's Rights. If enaclment or expiration 01 applicable law has the effect of rendering any
<br />provision of the Note or this Security Instrumenl unenforceable according to its terms, lender, at its option, may require immediate payment
<br />In fuU of all sums secured by this Security Instrument and may Invoke any remedies permilled by paragraph 19. " Lender exercises this
<br />option, lender shall take the steps specified In the second paragraph of paragraph 17.
<br />14. Notices. Any nolice 10 Borrower provided lor in this Security Instrument shall be given by delivering It or by mailing it by first
<br />class mail unless applicable Isw requires use of another method. The notice shall be directed to the Property Address or any other address
<br />Borrower designates by notice to Lender, Any notice to lender shall be given by first class mail to lender's add~ess stated herein or any
<br />other address lender designates by nollce to Borrower. Any notice provided for in this Security Instrument shell be deemed to have been
<br />given to Borrower or Lend9f when given liS provided in this paragraph.
<br />15. Governing Law; Severability. This Security Instrumenl shsll be governed by federal law and Ihe law of Ihe jurisdiction in
<br />which tha Property is localed. In the event thaI any prOVision or clause 01 this Security Instrument or the Note conflicts with applicable
<br />law, such conflict shall not affect other provisions at this Security Instrument or the Note which can be given effect without Ihe conflicting
<br />provision, To this end the provisions 01 this Security Instrument and the Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one conlormed 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 part 01 the Property or any interesl in
<br />it is sold or translerred (or if a beneficial interest in Borrower Is sold or transferred and Borrower is not a natural person) without lender's
<br />prior wrillen consent, lender may, at its option. require immediate payment in lull of all sums secured by this Security Instrument.
<br />However, this option shall not be exercised by lender if exercise is prohibited by federal law as 01 the date of this Security Instrument.
<br />If lender exercises this option, lender shall give Borrower notice of acceleration, The notice shalt provide a period of nol less than 30
<br />days from the date the notice is delivered or mailed within which the Borrower must pay all sums secured by this Security Instrument. "
<br />Borrower faUs to pay these sums prior to the explratio!l of.lhis period, lender may invoke any remedies permitted by this Security Instru-
<br />ment without further notice or demand on Borrower.
<br />18. Borrower'. Right to Reinstate. If Borrower meets certain conditions. Borrower shall have the right to have enlorcement
<br />01 this Security Instrument discontinued at any time prior to the cartier of: (a) 5 days (or such other period as applicable law may specify
<br />for reinstatement) bel ore sale of the Property pursu!lnt to any power 01 sale contained in this Security Instrument; or (b) entry of a
<br />jud9fTH!llt enforcing this Security Instrument. Those conditions are that Borrower. (a) pays lender all sums which then would be due under
<br />this Security tnstrument and the Note had no acceleration occurred; (b) cures any default 01 any other covenant or agreements; (c) pays
<br />aU el<perlses Incurred in enforcing this Security Instrument, Including, but not limited to, reasonable attorneys' lees; and (d) takes such action
<br />as lender may reasonably require to assure Ihat the lien of Ihls Security Instrument. lender's rights in the Property and Borrower's oblig-
<br />.lIon 10 p.Y sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Inslrument
<br />and the obllgallons securro hereby shaH remain fully effective as if no acceleration had occurred. However, this righl to reinstate shall
<br />not apply in the caso of accelorailon under paragraph 13 or 17,
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