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88- 106253 If Lender required mortgage insurance as a condition 01 making Ihe loan secured by Ihis SecurilY Inslrumenl, Borrower shall pay the premiums required to mainlaln the insurance in elfecl until such lime as Ihe requirement lor Ihe insurancetenninatesln accordance with Borrower's and Lender's wrillen agreemenl or applicable law . 8. '1Iia)le!:(I1/n.. Lender or ils agenl may make reasonable entries upon and inspections of Ihe Property. Lender shali give Borrower notice allhe time of or prior to an inspection specilying reasonable cause for Ill. inspection. II, Condemnation. The proceeds 01 any award or claim lor damages. direct or consequential. in canneclion wilh any condemnation or olher laking 01 any part or Ihe Property, or lor conveyance in lieu 01 condemnation, are hereby assigned and shall be paid 10 Lender. In the evenl of a tOlaltaking ollhe Property, the proceeds shali be applied 10 the sums secured by this Security Inslrument, whether or nOlthen due, with any excess paid 10 Borrower. In Ihe event of a partial taking of the Property, unless Borrower and Lender olherwise agree in writing, the slims secured by Ihis SecurilY Inslrument shali be reduced by the amounl 01 Ihe proceeds mulliplied by the lollowing fraction: (a) Ihe tOlal amount ollhe sums secured immediately belorethe laking, divided by (b) the lair market value olthe Property immediately before the laking. A.ny balance shali be paid 10 Borrower. If the Property is abandoned by Borrower. or if. after nOlice by Lender 10 Borrower that the condemnor OlfCllltO make an award or sellle a claim lor damages, Borrower lails to respond to Lender within 30 days after the dale Ihe notice is given, Lender is authorized 10 coliecl and apply the proceeds, at its option, eilher to restoration or repair ofthe Property or to the sums secured by this Security Inslrumenl. whelher or not then due. Unless Lender and Borrower olherwise agree in writing, any applicalion of proceeds to principal shall not eXlend or postpone the due date 01 lhe monlhly payments relerred to in paragraphs I and 2 or change Ihe amounl 01 such payments. 10. Borrower Not Rel_ed; Forbelll'llnce By Lender Not s Waiver, EXlension 01 Ihe time lor payment or modification of amortizalion 01 the sums secured by this Security Inslrument sranted by Lender to any successor in interest 01 Borrower shali not operate to release the Iiabilily 01 the original Borrower or Borrower's succesSOlll in inlerest. Lender shali nol be required 10 commence proceedings against any successor in interesl or reluse to extend lime lor payment or otherwise modily amortization ofthe sums secured by this Security Inslrumenl by reason olany demand made by the original Borrower or Borrower's succesSOlll in interesl. Any lorbearance by Lender in exercising any right or remedy shali nol be a waiver olor preclude Ihe exercise olany righl or remedy. 11. Successors and Alsip Bound; Joint and Several Liability; Co-slgners. The covenanls and agreements 01 this Security Instrument shali bind and benefitlhe successors and assigns 01 Lender and Borrower, subject 10 the provisions of paragraph 17. Borrower's covenants and agreemenls shall be joinl and several. A.ny Borrower who co. signs Ihis SecurilY Instrumenl but does nOI execute the Note: (a) is co-signing Ihis Securily Inslrument only 10 mortgage, granl and convey that Borrower's inlercsl in the Property under the lerms 01 this Security Inslrument; (b) is nOI personally obligaled to pay Ihe sums secured by Ihis Security Instrumenl; and (c) agrees Ihal Lender and any olher Borrower may agree to eXlend. modify, forbear or make any accommodations with regard 10 the terms 01 this Securily Inslrument or Ihe NOle wilhout that Borrower's cansent. 12. Loan Charges. If the loan secured by Ihis Security Instrument is subjecllo a law which sets maximum loan charges. and thai law is finaliy inlerpreted so thai the inleresl or olher loan charges coliecled or to be coliecled in connection with the loan exceed Ihe permilled limits. lhen: (a) any such loan charge shall be reduced by Ihe amount necessary 10 reduce Ihe charge 10 the pennilled Iimil; and (b) any sums already caliecled Irom Borrower which exceeded pennilled Iimils will be refunded 10 Borrower. Lender may choose to make this relund by reducing the principal owed under the NOle or by making a direcl paymenlto Borrower. If a relund reduces principal, Ihe reduclion will be Irealed as a partial prepaymenl withoul any prepaymenl charge under the Nole. 13. Legll1atlon AlJectlng Lender'a Rlghll. If enaciment or expiration 01 applicable laws has Ihe elfect of rendering any provision of the Note or lhis Securily Instrument unenlorceable according 10 its lenns, Lender, at its option, may require immediate payment in luli 01 all sums secured by this Security Instrument and may invoke any remedies pennilled by paragraph 19. If Lender exercises this option. Lendershalllakelhe sleps specified in the second paragraph 01 paragraph 17. 14. Notices. Any nolice to Borrower provided lor in this Securily Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use 01 another melhod. The notice shall be direcled 10 lhe Property Address or any other address Borrower designates by nOlice to Lender, Any notice 10 Lender shali be given by firsl class mail 10 Lender's address slaled herein or any olher address Lender designales by notice to Borrower, Any notice provided lor in 1his Securily Inslrumentshali be deemed 10 have been given to Borrower or Lender when given as provided in this paragraph. IS, Governing Law; Seyerabillty. This Securily Inslrument shali be governed by federal law and the law 01 the jurisdiction in which the Property is located. In Ihe evenlthal any provision or clause 01 this Securily Instrument or Ihe NOle conflicts wilh applicable law, such conflicl shali not alfect olher provisions of Ihis Securily Instrument or the Note which can be given elfect with~lIlthe conflicting provision. To this end the provisions 01 this Securily Instrument and the Nole arc declared to be severable. 16. Borrower'. Copy. Borrower shall be given one conlonned copy olthe Note and ofthis Security 1nslrument. 17. Tratllfer of tbe Property or a Beneficial Interest in Borrower, II ali or any part 01 the Property or any interest in il is sold or translerred (or ila beneficial inleresl in Borrower is sold or translerred and Borrower is not a nalural person) 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, Ihis option shall not be exercised by Lender if exercise is prohibited by lederallaw as oflhe date 01 this Security Instrumenl. If Lender exercises this option, Lender shall give Borrower notice olacceleration. The notice shall provide a period 01 not I... than 30 days from the dale the notice is delivered or mailed within which Borrower musl pay all sums secured by this Security Instrument. IIBorrowcr fails 10 pay Ihese sums prior to the expiralion 01 lhis period, Lender may invoke any remedies permilled by this Securily Instrument wilhoul lurther notice or demand on Borrower. 18. Borro......a Right to RelDltate. If Borrower meets certain conditions, Borrower shall have the righlto have enlorcemenl oflhis Security Instrument discontinued at any time prior 10 Ihe earlier 01: (a) 5 days (or such olher period as applicable law may specily for reinstatement) belore sale 01 the Property pursuanlto any power 01 sale contained in lhis SecurilY Inllrument; or (b) enlry of a judgment enlorcing this SecurUy Instrumenl. Those conditions are that Borrower: (al pays Lender all sums which Ihen would be due under Ihi. SecurilY Instrument and the Note had no acceleration occurred; (b) cures any dclault of any olher covenants or agreements; (c) pays all expenses incurred in enlorcins this SecurilY Inllrumenl, including, but notlimUed 10, reasonable altomeys' lees; and (d) takes such action as Lender may reasonably require to ulure that Ihe lien 01 Ihil Security Instrumenl, Lender's rights in the Property and Borrower's obliption 10 pay the sums secured by lhil Security Instrument shall continue unchanged, Upon ,einstalement by Borrower. tbis Security Instrument and the obliplionl secured hereby shan remain fully eft'ective as if no acceleration had occurred. Howcvcr,lhis rilht 10 mnltate shin nollpply in the case or accelenllion under plragr.phs I Jar 17.