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<br />'88~ 101824
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<br />If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument,
<br />Borro'Y~~ ~~ pay."h~ premiums required to maintain the insurance in effect until such time as the requirement for the
<br />insurance t,rmin~\es in accordance with Borrower's and Lender's written agreement or applicable law.
<br />8.-i~oa, Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall live Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />9. CoDde.....tion. 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 />If the Property is llbandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to
<br />make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is
<br />liven. Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair ofthe 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 1 and 2 or change the amount ofsuch payments.
<br />10. Borrow... Not Releued; ForbearaDce By Leader Not . 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 opente to release the liability of the original Borrower or Borrower's successors 10 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 or 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 />shaD not be a waiver of or preclude the exercisc of any ript or remedy.
<br />11. ~ [.....,... aad Amps BoImd; Joint and Sennl Liability; Co-sipers. 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 />ofparqraph 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 mortgage, grant and convey
<br />that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personaliy obligated to pay
<br />the sums-secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend,
<br />modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />12. Lou CIIarIeL If the loan secured by this Security Instrument is su~ject to a law which sets maximum loan
<br />charles. and that law is finally interpreted so that the 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 mI\K1e the charJe to the permiUed limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be munded 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 piepayment without any prepayment charae under the Note.
<br />13. ........... Aft'ectiq LeMer'1 RIP'" 'If enactment or expiration of applicable laws has the effect of
<br />rendering any provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option,
<br />may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies
<br />permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notkes. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by
<br />mailin, it by first class mail unless applicable law requires use of another method. The notice shall be directed to the
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br />first class mail to Lcndtr's address stated herein or any other address lender designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall br deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. GoYel'lUlLa", Seftl'alftlity. This Security Instrument shall be governed by federal law and the law of the
<br />jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the
<br />Note c:ontIicts with applicable law, such conftict shall not aft'ect other provisions of this Security Instrument or the Note
<br />which can be pven cl'cct without the conftictinB provision. To this end the provisions ofthi:> Security Instrument and the
<br />Note are decIanld to be severable.
<br />16. IIDmnrtr'sCo". Borrower shan be liven one conformed copy of the Note and of this Security Instrument.
<br />17. Tn.Ier of tile Pro,erty or . IleBeficiall.tertSt i. Borrower. If all or any part of the Property or any
<br />intCf'at in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />person) without Lender's prior wriUen consent, Lender may, at its option, 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 />fcderallaw uoftbc date of this Security Instrument.
<br />If Leader exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />of' not .. thu 30 days from the date the notice is delivered or mailed within which Borrower must pay all !'iums secured by
<br />this Security IlIIUUIIIent. .If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any
<br />remedies pennilted by tbis Security Instrument without further notice or demand on Borrower.
<br />IL ....--... .... to ReiMtate. If Borrower meets certain conditions, Borrower shall have the right to have
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of: <a) 5 days (or such other period as
<br />apptiCable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this
<br />SecuritylMtrummt; or (b) entry of a judpnent enforcing this Security Instrument. Those conditions are that Borrower:
<br />(a) ")'I Lender all sumS which then would be due under this Security Instrument ami the Note had no acceleration
<br />. occurred; (b) cura any default of any other covenants or alrecments; (c) pays all Cllpenscs incurred in enforcing this
<br />Securily Instrument, includin., but not limited to, rea.wnable attorneys' fees; .and (d) takes such action as Lender may
<br />ratOft&bIy require to assure that lhe lien of this Security Instrument, Lender's rights in the Property and Dorrower'r.
<br />oWiption to ..y the sums secured by this Security Instrument shall continue unchanged. Upon reinstatemenl by
<br />Borrower, this Security Instrument and the obli,ations secured hereby shall remain fully effecti\'e as if no acceleration had
<br />occurred. How~tf, Ihis ri,ht to reinstate shall not apply in the ctiC of acceleration under paragraphs 13 or 17.
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