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88-'108229 If Lcttder required monPIC insurance as a condition 01 making the loon secured by lhis SecurilY Inslrument, Borro~abalI pay the premiums required 10 maintain Ihe insurance In efl'ect until such lime as Ihe requirement for Ih. insurance tmninates in accordance with Borrower's and Lender's wrilten agreement or applicable law. 8. IiIIpxtIoB. Lender or its asenl may make rcuonable entries upon and inspections ollh. Propeny. Lender s1W1 give Borrower notice al the time of or prior to an inspection &pCCifying reasonable cause lor Ihe Inspection. 9. Condeaullon. lbe proceeds 01 any award or claim lor damagcs. direcl or consequential, in connec1ion wilh any condemnation or olher taking of any pan of the Propcny, or lor conveyance in lieu 01 condemnation, are hereby assiJncd and shaIJ be paid to Lender. In lite event of a total taking of the Propcny, the proceeds shall be applied to the sums secured by this SecurilY IDltrument, whether or not then due, with any excess paid to Borrower. In the event 01 a partial taking 01 the Propcny, unless Borrower and Lender otherwise agree in writing. Ihe sums secured by Ihis SecurilY Instrument shall be reduced by the amount of the proceeds multiplied by Ihe following fraclion: (a) Ihe total amount or lhe sums secured Immedialdy before the taking, divided by (h) the fair market value of Ihe Propcny immediately belore the taking; Any balance shall be paid to Borrower, If the Propcny is abandoned by Borrower, or iI, after notice by Lender to Borrower that the condemnor ofl'en to make an award or scttIe a claim for damages, Borrower fails to respond 10 Lender wilhin 30 days aller Ihe date the notice is given. Lender is authorized 10 collect and apply the proceeds, at its option. either to rcsloration or repair ollhe Property or 10 the sums secured by this Security Instrument, whether or not then duo- Unless Lender and Borrower otherwise agree in writing, any applicalion ofprocecds to principal shall nOI extend or postpone the due date of Ihe monthly payments referred to in paragraphs I and 2 or change the amounl of such payments. 10. Borrower Not Releued; Forbcannce By Lender Not a Waiver, Extension ollhe time for payment or modification of amonizalion 01 Ihe sums secured by this Security Instrum.nl granled by Lender 10 any successor in interest olBorrower sha11 not operate 10 release Ih. liability olthe original Borrower or Borrower's successors in inlercsl, Lcttder shall not be required 10 commence proceedings against any successor in inlerest or refuse to e'lend time for paymatl or otherwise modify amonization 01 the sums secured by this SecurilY Instrument by reason 01 any demand made by the original Borrower or Borrower's sUCCCISOIll in interest- Any lorbc:arance by Lender in e.ercising any righl or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 11. S_ ud AsaIpa Boam\; Jolo1 and Several UabWty; c....lpers. lbe covenants and agreements of Ibis Security Instrument shall bind and bcnefitthe successors and assigns of Lender and Borrower, subject to Ibe provisions of paragraph 17. Borrower's covenants and agreements sha11 be joint and several. Any Borrower who co-signs this SecurilY Instrument bUI docs not execute Ihe Note: (a) is co-sisning this SecurilY Instrument only 10 mongage, grant and convey lhat Borrower's interesl in the Propeny under thetenns. ollbis SecurilY Inslrument; (h) is nOI personally obligated 10 pay the sums secured by this SecurilY Instrument; and (c) agrees that Lender and any other Borrower may agree to extend. modify, Imbcar or make any accommodations with regard to the terms 01 this Security Instrument or the Note wilhout thai Borrower'sconsent- 11 Loa Charaes. If the loan secured by this SecurilY Instrument is subject to a law which sets maximum loan charges. and lhal law is flna11y interpreted so that the interest or other loan charges collected or to be collected in COIIDcction with the loan exceed the permiUed limits, Ihen: (a) any such loan charge shall be reduced by the amount necessary 10 reduce the charge 10 the pcrmilted limit; and (h) any sums already collected Irom Borrower which exceeded permiucd limits will be refunded 10 Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direcl payment 10 Borrower. Ifa refund reduces principal. the reduction will be lrealed as a partial JlIl'JIIIymatt without any prepayment charge under Ihe No~ 13. LqUIatIon AJrealaa Leader'I Rl&hll. If cnaclmenl or expiration 01 applicable laws has Ihe clI'ect of rendering any provision oflbe Note or this Security InstrumenllIDenforccabl. according 10 its terms. Lender. at its option, may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedics permiucd by paragraph 19. If Lender exercises this option. Lender shall take the steps specified in Ihe second paragraph of paragraph 17. 14. Nollceo. Any notice 10 Borrower provided for in lhis Security Instrumenl shall be given by delivering it or by mailing il by firs! class mail unless applicable law requires use 01 another method. lbe notice shall be directed to Ihe Property Address or any other address Borrower dcsignalcs by notice 10 Lender. Any notice 10 Lender shall be given by first class mail to Lender's address stated herein or any other address Lender designates by nOlicc to Borrower. Any notice provided for in this Security Instrument sha11 be deemed 10 have been given 10 Borrower or Lenner when given as provided in this paragraph. 15. GavenIbItI Law; SeverahI1It)', This Security Inslrument shall be governed by lederal law and Ihe law 01 Ihe jurisdiction in which the Propcny is located. In the event that any provision or clause oi this Security 1n'1rumenl or Ihe Note conIIiclS wilh applicable law, such conllict shall nOI afl'ecl other provisi"ns of this Securily Instrument or lh. Note which can be given clI'ec1 without the contIicting provision. To this end Ihe provisions 01 this Security InstrumCIIt 8ad the Notearedcclarcd to be scvcrable. 16. Borrower'. Copy. Borrower s1W1 be given one conformed copy of the Note and 01 this Security Instrument. 17. Truafer or the Property or I Bcnellclaf In_ Ia Borrower, If all or any pan 01 the Propeny or any inlereSt in it is sold or transferred (or if a bcncllcia1 interest in Borrower is sold or transferred and Borrower is nOI a natural penon) without Lender's prior written consent. Lender may, at its option. require immediate payment in full of all sums secured by this Security Instrument- However. this option shall nol be exercised by Lender il exercise is prohibited by fcdcra11aw as of the date olthis Security Instrument- IfLendereercises Ihis option. Lender shall give Borrower notice olacceleration. lbe notice shall provide 8 period ofoot 1esa than 30daya from thedatethe notice isdclivercd ormailcd within which Borrowcr must pay all sums secured by Ihis Security Instrument- If &rrower lai1s to pay these sums prior to the expiration 01 this period. Lender may invoke any rancdies permined by this Security Instrumenl wilhout lurther notice or demand on Borrower. IL ~ RII1tt to ~ If Bol1'OViCl'meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier 01: (a) S days (or such other period as applicable law may apccify lor reinstalemCllt) before sale of the Property pursuant to any power 01 sale contained in this Security lmtrumcnl; or (h) entry of a judgment enforcing this Security Instrument. lbose conditions are that Borrower: (a) pays l.ender all sums which tbcn would be due under this SccurilY Instrument and the Note had no acceleration accurred; (b) cures any default of any other covenants or qrecm.,lIS; (c) paya all expenses incurred in enforcing this Security Instrument, including. but not limited to. reasonable auomcys' fees; and (d) takes such action as Lender may rasoaabIy require to assure that the lieD of this Security Instrument. Lender's rights in the Propcny and Borrower's obtiptioD 10 pay the sums secured by this Security Instrument shall continue uachanged. Upon reinstatement by Ilorruwer.tbio Security Instrument and 'the obIiptions I<<.Urcd hereby shall remam fully efl'ecllv. as if no acceleration had OC''1I1Ted- However. this ript to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17. ~. ,j 'J.'" I