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<br />88- 103747
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<br />If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument,
<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 \yritten 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 prio~ to an insPection specifying reasonable cause for the inspection.
<br />9. Condemnadon. The proceeds of any award or claim for damages, direct or consequential, in connection with
<br />any condemnation or other laking of any part of the Property, or for conveyance in lieu of condemnation, are hereby
<br />I\ssigned and shall be paid to Lender.
<br />In the event. of a total taking of the Property, the proceeds shall bc applied to the sums secured by this Security
<br />Instrument, whether or not then due. with any excess paid to Borrower, In the event ora 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 SUIll$ secured immediatcly
<br />before the talc.ing, divided by (b) thc fair market valuc of the Property immediatcly before the taking. Any balance shall be
<br />paid to Borrower.
<br />If the Property is abandoned 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 />given, lender is authorized to collect and apply the proceeds, at its option, either to restontion or rcpair of the Property 01'
<br />to the sums secured by this Security Instrument, whether or not then due.
<br />Unless Lendcr and Borrower otherwise agree in wming, 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 Leader Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Sccurity Instrument, granted by Lender to any successor in
<br />interest of Borrower shall not operate to release the liability of the original Borrewer or Borrower's successors in intcrest
<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 b)' Lender in exercising an}' right or remedy
<br />shall not bea waiver of or preclude Ihe exercise of any righl or rcmedy.
<br />11. Successors and AuillDl Bound; Joillt and Several UabilitYi Co-sipers. The covenants and agreements of
<br />this Security Instrument shall bind and benditthe successors and assigns ofLcnder 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 bUI does not execute Ihe Note; (a) is co-signing this Security Instrument only to mortgage., gnnt and convey
<br />that Borrower's interesl in Ihe Property under the terms Oflhis Security Instrument: (b) is nOI personally obligated to pa)'
<br />the 5Ums secured by this Security Instrumenl; and (c) agreo thai Lender and any other Borrewer may agr<< to extend,
<br />modify, forbear or make any accommodations with regard to the lerms of this Securit). Instrument or the Note without
<br />that Borrower's conllCflt.
<br />12. Loan Charaes. If Ihe IOBn secured by Ihls Secunly Inslrument IS subJCCtto a law which sets maximum loan
<br />charges, and lhat law is finally interpreted so Ihat Ihe interest or other loan charges collected or to be collecled in
<br />conneclion with Ihe loan exceed Ihe permmed Iimiti, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permiUed limit; and (b) any sums already collecled 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 10 BOrrower. If a refund reduces principal, the reduclion will be treated as a
<br />partial prepayment withoul any prepayment charge under the Note.
<br />13. Lqislation AfI'ecting under's Rightl. If enactment or expiration of applicable laws has Ihe effect of
<br />rendering any provision of the NOle or this Security Instrument unenforceable according to Its terms. Lender. at its option,
<br />may require immediate paymenl m full of all sums secured by lhis Security Inslrument and may invoke any remedies
<br />permined by pangraph 19. If Lender exercises this opllon, Lendcr shllllllllce the steps specified in the second paragnph of
<br />parasnph 17.
<br />14. Notics, Any nOlice to Borrower proVIded for 1II1his Se~unt)' Inslrument ihall be gl\cn by deli\'ering il or b)'
<br />mailing it by first class mail unless applicable law requires UliC of another method. The notice shall be directed to the
<br />Property Address or any olher address Borrower designates by notice to Lender. Any notice to lender shall be given by
<br />firsl class mail 10 Lender's address staled herein or any other address Lender designatcs by notice 10 Borrower Any notice
<br />provided for in IhlS Security Instrument shall be decmed 10 ha\'c becn gi\'e1l 10 Berrow!:r or Lender when gIven as provided
<br />in thisparagnph.
<br />IS. GoYenling Law; Se.erabilil)'. ThiS Security Inslrument shall be governed by federal law and Ihc law of Ihe
<br />jurisdiction in which Ihe Property is located. In Ihe e\'cntthal all)' prOVISion or clause: of this Security Instrument or the
<br />Note conDicts with applicable law, such conDict shall nOI affecl other previsions of this Security Instrument or Ihe Notc
<br />which can be given effecl without the conflictmg provision. To lhis cnd the preVIsions of this Security Instrument and the
<br />Note are declared to be severable,
<br />16. Borrowl!r'. Copy. Borrower shall be given olle conformed copy of the Note and of Ihis Security InSlrUmenl
<br />17. Tranlfer or tbe Property or a Beneficiallnten.'5t in Borrower. If all or allY part of the Properly or any
<br />interest in it is sold or transferred (or if a benefiCial illleresl in Borrower IS sold or IransferrL-d and Borrewcr IS n01 a natural
<br />person) without Lender's prior wriuen consent, Lender may, al 115 opllon. requm: IlIlll1ediale payment In full of all sums
<br />secured by this Security Instrument. However, thIS opllon shall nOI be excrcised b)' Lcnder if exercise IS prohiblled b)'
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this option. Lender shall give Borrowcr notice of acceler.uion Thc notlcc shall provide a period
<br />of not Ie" than 30 days from the date the notice is delivered 0' mailed wilhln which Dorro....'CI' 1Il1l'1 pay all sums ~ecured by
<br />this Security Instrumenl. If Borrowcr fails to pay these sums prior to the cxpirlltion of thl~ penod, Lcnder may in\'oke :my'
<br />remedies permilted by this Security Instrument without further nOlice or demand on Borrower.
<br />18. Borrower'. Rlaht to Reinstate. If Borrower meets certain conditions, BorrO\\"cr ,hall have Ihe right to ha'e
<br />en(on:cmenl ofthis Security Instrument disconlinued at any lime prior to the earlier of (a) 3 cla)'s (or such ,'I her pennJ '"
<br />applicable law may specify for reinstatement) before sale of Ihe Properly pursuaol 10 an)' power of sale conlalll,-d III llm
<br />Security Instrument; or (Il) entry of a judgment enforcing Ihis Security Instrumenl Those conditions :tre Ihal Burrower
<br />(a) pays Lender all sums which then would be due under this Security Inslrument and Ihe NOll' had nn ;Jcl'cktallon
<br />o<<urred; (b) cures any defaull of allY other covenanb or agreements; (c) pays,_U cllpenscs II1curr,,,j III cnfmclIlll lhls
<br />Security Instrument, including, but nOl limited to, rcalKlllable allol'l1e~s'fc;es; .",d (d) t~kCll su~h aClic'n a' LrnJ," illS)
<br />rcuonably require 10 anure Ihat the lien of this Security Imtrurnent,f.ender:s:righl-sln th,e Pn1peny and 11"1,,,.....,.,..,
<br />obliptlon 10 pay Ihe sums IoCcured by this Sc<:urit). In~trurnent:'Iib"'I~ntinUC unehanaed, UllOn rCIll\talCllll'lIl hl
<br />Borrower. lhlS Security Instrumenlllnd lhe obligations secured hereby shall remalll rull) cffectl"c II' II' IIIl il,','cl""'lInn had
<br />occurred. Uowever, Ihis rightlO reinstate shall nol apply In 1he case of acceleratIon under I'lImllrll["I\ I \ ", 17
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