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<br />88-104597
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<br />If Lender l'e!Iuired mortgage insuranc. as a condilion of making the loan secured by Ihis Security Instrum.nt,
<br />Borrow.r shall pay the pr.miums required to maintain the insurance in .ffecl until such lim. as Ih. requir.m.nt for Ih.
<br />insurance terminates in accOrdance with Borrow.r's and Lender's writt.n agreem.nl or applicabl.law.
<br />8.i..IRIIIcctIon.. .Lender or its agenl may make reasonable .ntries upon and inspections of the Property. Lender
<br />shall give Borrow.r notice at Ih.lime of or prior to an inspecrion specifying reasonabl. cause for the inspeclion,
<br />9. Coadellllllltlon. Th. proceeds of any award or claim for damages, direcl or conscqu.nlial, in conneclion with
<br />any condemnation or oth.r taking of any part of Ih. Property, or for conv.yanc. in Ii.u of cond.mnalion, ar. h.r.by
<br />assigned and shall be paid to Lender,
<br />In the .vent of a total taking of the Property, the proceed, shall be applied 10 the sums secured by this Securily
<br />Instrument, wh.ther or nol then due, wilh any excess paid 10 Borrow.r, In th. .venl of a partial taking of Ih. Property,
<br />unless Borrower and Lend.r olh.rwise agree in writing, lh. sums secured by this Securily Inslrument shall be reduced by
<br />lh. amounl of Ih. proce:ds multiplied by the following fraclion: Ca) Ih. lotal amounl of Ih. sums secured immedial.ly
<br />before the taking, divided by (b) lh. fair market valu. oflh. Property immedialely before the taking. Any balance shall be
<br />paid to Borrow.r.
<br />If lh. Property is abandoned by Borrower, or if, aft.r nOlice by Lender 10 Borrower thaI the condemnor off.rs 10
<br />make an award or settl. a claim for damages, Borrower fails 10 respond 10 Lender within 30 days aft.r th. dal.lh. nolice is
<br />given, Lend.r is authorized 10 collect and apply the proceeds, at ilS option. .ilher to resloration or repair ofth. Property or
<br />10 lh. sums secured by Ihis Security Inslrum.nl, wh.th.r or nollhen due,
<br />Unless Lender and Borrow.r olh.rwise agree in writing, any application of proceeds 10 principal shall nOI.xlend or
<br />poslpon. the due dal. of the monlhly paym.nts ref.rred to in paragraphs I and 2 or chang. the amounl of such payments.
<br />10. Borro...er Not ReJeaaed; Forbearance By Leader Not a Wah.r. Ext.nslon of Ihe tim. for payment or
<br />modificalion of amomzation of Ih. sums secured by Ihis Securily Instrum.nl granled by Lend.r 10 any successor in
<br />inleJ'es1 of Borrow.r shall nol operal. 10 r.l.... the liabililY of Ih. original Borrow.r or Borrow.r's successors in int.resl.
<br />Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for
<br />paym.nl or olh.rwise modify amortization or th. sums secured by Ihis Securily Inslrum.nt by reason of any demand mad.
<br />by th. original Borrower or Borrow.r's successors in interest. Any forbearance by Lend.r in .x.rcising any righl or remedy
<br />shall nol be a waiver of or preclud. the .xercise of any righl or remedy.
<br />11, S--..n IUld AuIpa Bcnmd; JolatllDd Sneral Uabillty; Co-aIIlD.n. Th. covenanls and agreements of
<br />Ihis Security Instrumenlshall bind and bencfilthc ,uccessors and assigns of Lender and Borrower, subjecllo th. provision,
<br />of paragraph 17. Borrow.r's covenants and agrc:ements shall be joinl and sev.ral. Any Borrow.r who eo-,igns Ihis Securily
<br />In'lrumenl bUl does not execute lh. NOI.: Ca) is co-signing thi, Security Instrumenl only to mortgag., granl and conv.y
<br />Ihal Borrow.r's inl.rest in the Property und.r Ih.lerms oflhis Securily Instrum.nl; (b) is nol personally obligaled to pay
<br />the sums secured by lhis Securily Inslrumenl; and Cc) agrees Ihal Lend.r and any olher Borrow.r may agree 10 exl.nd,
<br />modify, forbear or make any accommodalions wilh regard 10 Ih. I.rms of this Securily Instrum.nl or th. Not. withoUl
<br />lhal Borrower's consent.
<br />U. LaIUl CIwveL If the loan secured by Ihis SecurilY Inslrumenl is subject 10 a law which ..Is maximum loan
<br />charSes, and thaI law is finally inlerpreted so thaI Ihe inl.rest or olher loan charges collected or 10 be collecled in
<br />connection with the loan .xceed the permilled limits, then: (a) any such loan charge shall be reduced by the amounl
<br />necessary to reduce Ih. chlll'Jl. to the permitted limit; and (b) any sums already collecled from Borrower which .xceeded
<br />permitted limits will be refunded to Borrower, Lender may choose 10 make Ihi, refund by reducins the principal owed
<br />under the NOI. or by making a direcl paymenl to Borrower. lfa refund reduces principal, Ihe reduclion will be trcaled as a
<br />partial prepaymenl withoUl any prepaymenl charS. under the NOle,
<br />13. Lellslatloa Alfoetlaa Lender'a RJahta. If enaclmenl or expiralion or applicabl. laws has Ih. .ffect or
<br />rendering any provi,ion of lh. NOle or this Securily Inslrumenl unenforceabl. accordinS 10 its lerm', Lender, al its option,
<br />may require immedial. paymenl in full or all ,ums secured by this Security Inslrumenl and may invoke any remedies
<br />permitted by pBl'Blraph 19. If Lender exercises this oplion, Lender shalltakc the 'lops 'pccified in Ihe second paragraph of
<br />paragraph 17.
<br />14. Notlcel. Any notice to Borrower provided for in Ihis Securily In'trumenl shall be given by deliverins il or by
<br />mailinS il by firsl class mail unless applicable law requires use of anolher melhod, The notice ,hall be direcled 10 Ihe
<br />Property Address or any other address Borrower designsles by nOlic. to Lend.r, Any nOlice 10 Lender shall be siven by
<br />first class mail 10 Lend.r's address staled h.rein or any olh.r address Lend.r dcsiSnalcs by notice to Borrow.r, Any nOlice
<br />provided for in this Security In'lrumenl shall be deemed 10 have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Go..ntlna Law; Se..rablUty. This SecurilY Inslrumenl ,hall be governed by federal law and Ihe law oflhe
<br />jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the
<br />NOI. conflicts with applicable law. such conflict shall not affecl other provi,ion, of this Securily Inslrumenl or Ihe NOle
<br />which can be given ell'ecl wilhoul the conllicling provision, To this end the provisions of this Securily Inslrumenl and Ihe
<br />Not. are declared 10 be severabl..
<br />16. lIonower'a Copy. Borrower shall be given one conformed copy of the Note and of Ihis SecurilY In'lrumenl.
<br />17. Traaafer or the Property or a 1IeD.lldal Int.rest in Borrow.r. If all or any part of lhe Propeny or any
<br />interest in it is sold or transfern:d (or if ill beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />person) wilhoul Lender's prior written consenl, Lender may, al iI' option, require immediale paymenl in full of all ,urn'
<br />secured by Ihis Security Inslrumenl. However, this oplion shall not be cxercised by Lendcr if cxercise i, prohlbiled by
<br />federal law as ofth. date of this Securily Instrumenl.
<br />If Lender exercises this oplion, Lender shall give Borrow.r nolice of acceleralion, The nOlice ,hall provide a period
<br />of not less than 30 days from Ihe date the nOlice i, delivered or mailed within which Borrower mU'1 pay all.um. secured by
<br />Ihis Securlly Inslrument. If Borrower fails 10 pay Ihese sums prior to Ihe expiralion of lhi, period. Lender may invoke any
<br />remedies permitted by this Securily Instntmenl withoul rurther nolice or demand on Borrower,
<br />II. Borro.......a RlPt to Relaatate. If Borrow.r mee15 certain conditions, Borrower .hall have Ihe righl 10 have
<br />enforcemenl of Ihis Security Inslrum<rll disconlinued al any lime prior 10 Ihe earli.r of: ta) S day, Cor ,uch other period as
<br />applicable law may specify for reinstalemenl) befnre sale of the Property pursuanl to any power or sale conlained in IhlS
<br />Securil)' Instrument; or (b) entry of. ju.dpent enforcing this Security Instrument. Thos.e conditions are that Borrower:
<br />Ca) pays Lender all sums which Ihen would be due und.r Ihis SecurilY In,trument and Ihe Note had no accelerallon
<br />occurred; (b) cures any def'ault of any oth.r covenants or agrc:emenl'; Ce) pay' all expenses Incurred in enrorclng IhlS
<br />Security Inslrumenl. including. but not limited to, reasonabl. attorney.' fec::s; and (d) lUes ,uch acllon as Lender may
<br />reuonably require to auure that th. lien of this Security Inslrument. Lender', nghts In Ihe Property and Borrower'.
<br />oblipuon to pay the sums. IeCUred by chi. Security Instrument 'Shall caDunue unen.n,ed. Upon remstatement by
<br />'Borrower. this Security Instrument and the obligations secured hereby shall remam fully effecu,"c &5 If no acceleration had
<br />occurr.... HOWeYer, lhlS ",hI 10 rClnslBl..hall nol apply ID Ih, case of accclcratlon undcr para8raph, I J 0' 17
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