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88-105329 Ir Lender required monpJe insurance as a condition of making the loan secured by this Security Instrumen., Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the insurance Icnninatcs m accordance with Borrower's and Lender's written agreement or applicable law. I. ~" rJendCl'.or.iuqent m.y mike reISOnable enlries upon .nd inspeclion. of ,b. Property, Lender shan IPve BOrro...... ~oll~ ill ~e tiin, of or prior to III inspecllon specifying reISOnable cau.. for the inspection, 9. ~." The proceeds of any award or claim for damages. direct or consequential, in connection with any condannation or other taking of any pan of the Propeny, or for con\leyance in lieu of condemnation, arc hereby assigned IIld shall be poid to Lender, In the evenl of. total liking of Ihe Property, the proceeds shall be applied to the sums secured by this Security InSlrumenl, ...hether or not then due, with lilY eJlcess poid to Borrower. In the event of a partial laldng of 'he Property, unless Bo"""er IIld Lender otheJWi.. agree in writing, Ihe .ums secured by Ihis s.curily Instrument .hall be reduced by the lInount of Ihe proceeds multiplied by Ihe following fraction, (a) th, total amoun' of the sums secured immedialcly before ,he taking, divided by (b) the flir market value oflhe Propeny immediately before the liking. Any balance shall be poid 10 Borrower. If the Property is abandoned by Borrower. or if, after notice by Lender to Borrower that the condemnor offers 10 make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the proceeds, at its option. either to restoration or repair of the Propeny or to the sums secured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing. any application of proceeds to principal shall not extend or postpone Ihe due date of the monthly poyments referred 10 in paragraphs I and 2 or change the amount of such payments. 10. Borrow.. Not Rdeaed; Forbearance By Leader Nol . WIIi..r. F.xtension of th, time for paymenl or modification of .mortiZltion of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release tbe liability of the original Borrower or Borrower's succ:cssors in interest. Lender 5ha.l1 not be required to commence proceedings against any successor in interest or refuse to extend time for payment or othe:rwiJc modify amonization oflhe sums &ccured by this Security Instrument by reason of any demand made by rhe ori,prwBorroweror Borrower's SUccessoR in interest. Any forbearance by Lender in exercising any right or remedy shall nol be a ...liver of or pra:lude the eJlercise of .ny righ' or remedy, II. s.cc-..... AIIIps IIoud; Joblllllld s...n1 UaIli1lty; eo..itplen. The covenants and agr..ments of thi5 Security Instrume:ntlhall bind and benefit the successors and assigns of Lender and Borrower. subject to the: provisions ofplllllrBph 17, Borrower', CQvenanlJ IIld ogreomenlJ shall bejoint and ..veral, Any Borrower who co-signs Ihis Security Instrument bul does not execute the Note: el) is C<Higning this Security Instrument only to mortgage. grant and convey that Borro...er', interest in the Property under Ihe lenns of this Security Instrument; (b) is not personally obligaled to pay the sums IOCUred by this Security Instrument; IIld Co) .g..... Ihal Lender and any other Borrower may agr.. to e"end, modify, forbear or make any accommodallons with reprd to the terms of this Security Instrument or the Note without that Bonower~s CODJeI1t. U. Lou CIIaarIs. If the loan aecured by this Security Instrument is subject to a law which sets maximum Joan charges. and that law is ftnally interpreted so that the interest or other loan chaTJcs collected or to be collected in connection with the loan exceed the permitted limits. then: <a) any such Joan charge shall be reduced by the amount necessary to reduce ,he charge to the pennined limil; IIld (b) .ny sums already collecled from Borrower which exceeded pennined limits will be refunded to Borrower. Lender mlY ChOO5C to make this refund by reducing the principal owed under the NOle or by making I direct payment to Borrower. If. refund reduces principal. the reduclion will be treated as a partilli prepoyment without any prepoymen' charge under Ihc Note. 13. J..eabIatioe AlrectiD& Leader'. RJabta.. If enactment or expiration of applicable Jaws has the effect of renderinl any provision o(the Note or tbis Security Instrument unenforceable according to its terms. Lender. at its option. IDlY require immedialc poymen' in full of all sums secured by Ihis Secumy InSlrumenl and may invoke any remedies pennitted by pIllIIrBpb 19. If Lender eJlcrei... Ihis option. Lender shllil tlke Ibe Slops specified in lhe second paragraph of pIllIIrBph 17. 14. Notice:&. Any notice to Borrower provided for in this Security Instrument shall be given by deJivering it or by mliling it by Iinl class mlil unless applicable law requires use of another method, The notic, sball b< directed '0 the Property Address or lilY other address Borrower designales by notice 10 Lender, Any notice to Lender shall be given by fint cIasa maitto Lender's address stated herein or any other address Lender designales by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to h....e been given to Borrower or Lender when given as provided in !.his parqraph. 15. Goftnliq Law: s.......i1Ity. This Security Instrument shall be gov,med by federal Jaw and lhe law of the jurisdiction in which the Property is located. In the event that any provision or clause of Ibis Security Instrument or the Note conflicts with applicable law. such conflict shall not aJl'ect other prOVIsions of this Security Instrument or Ihe Note which can be pven dl'ec1 without tbe confticting provision. To thiS end the provisions of this Security Instrument and the Note are dec10red 10 be severable. 16. Borrower'. Copy. Borrower shall be given one conformed cop)' oflhe Note and of this Security Instrument. 17. Truafor or tile Pn>porty or . lleaellclal loler.., I. Borro...r. If all or any pan of Ibe Propeny or any interest in it is sold or transferred (or if a beneficial interest.n Borrower IS sold or lransrerred and Borrower is nol a natura) penon) witbout Lender's prior written consent. Lender may, at lis opllon. n:qulTe immediale paymenl in full of all sums secured by this Security Instrument. However. this option shan nol be: exercised by Lender if exercIsc is prohibilc:d by federalla..... orthedale of this Security Instrumenl. If Lender exercises this optian, Lender shall give Borrower notice of acccleTllltion. The nolice shall provide a period of not leu than 30 days from tbedale tbe notice is delivered or mailed within which Borrower musl pay all sums secured by this Security luuument.IfBorrowerfaiJs to JJi8Y these sums prior to the expiration of this penod. Lender may invoke any remedis permitted by this Security InstrUment wilhout funher notice or demand on Borrower .1. 1Ionower'. RiP- to ReiaItate. If Borrower meets certain conditions. Borrower shall have the nghl to hue cnfon:emmt ofthit Security Instrument discontinued at any time prior 10 Ihe earlier of: (aJ S days Cor such other pc:nod as Ipplicable law may specify for reinstatement) before Kle of the Propeny pursuanl 10 any power of sale conlalDed In thiS Security Instrument; or (b) entry of. judamcnt enforcinlthis Securily Instrument Those conditions are that Borrower: Ca) ~YI Lender all gums which then would be due under Ihis Security Instrument and the NotC' had no acceleranon occurred; (b) cures any default of any other CO\ienants or Igreements; (c) pa~ all eapense. Incurred m enforcing thu, Security Instrument, Includinl. bUI not limited to. rasonlb~ luomeys' reo; and Cd) takes such acllon n Lender mlY reuonably requi~ to Ulure that the lien of this Security Instrument. lender's nghlS In the Propeny Ind Borrower's obhphon to pIIy the sums iCC"Und by Ihll Secunty Instrumenl ~halJ a:mtlnue unchanged. Upon remll.lernenl by Bonuwer. thiS Sccunty Instrument Ind the obhpuonl secured hereby shall remlln fully effective as If no Iccclerauon hat.l occurred However, thl. n,ht to mnstate shall not apply In the cue of acceleration under parlgrlph" 1.\ ur 17