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88-106333 If Lender required monpge insurauce IS a condition of making Ihe loan secured by Ihis SecurilY Inslrumenl. Borrower shall pay the premiums required to maintain the insurance in eO'ect until such lime IS the requirement for Ihe insurance tenninales in accnrdance with Borrower's and Lender's wrlllen agreement or applicable law. 8. lupectlon. Lender or its qent, may'make reasonable entries upon and inspections of the Property. Lender shall give Borrower nOlice atlhe time ,ofot prior to Iiii illSj>e!:tion specifying reasonsble cause for the inspection. !I. Couenutallon. The proceeds of any awild orcWm for damages, direct or consequential. in conneclion with any condemnation Dr other takins of any pan of Ihe'Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In Ihe event of a lotaltaldng of the Propeny, the proceeds shall be applied 10 Ihe sums secured by this Security Instrument, whelher or not then due, wilh any excess paid to Borrower. In the evmt of a paniallaldng of the Propeny. unless Borrower and Lender otherwise as= in writing, the sums secured by this Security Inslrument shan be reduced hy the amount of the proceeds multiplied by the following fraction: (a> the lotal amount of Ihe sums secured immediately before Ih. taking. divided by (b) th. fair market value ofth. Propeny immediately befor.th.taldng. Any balance shall be paid to Borrow.r. . If the Propeny is abandoned by Borrow.r, or if, after notice by Lender 10 Borrower Ihatth. condemnor oO'ers to make an award or,selll. a claim for damages, Borrow.r fails to respond 10 Lend.r within 30 days after the dat.the notice is given. Lender is aUlhorized to collect and apply the proceeds, at its option, eilh.r to restoralion or repair of th. Property or 10 th. sums secured by this Securily Instrumenl, whether or nolth.n du.. Unless Lender and Borrower otherwise agree in writing, any applicalion of proceeds to principal shall nol extend or poslpon.th. due date of Ibe monthly payments referred to in paragraphs I and 2 or change the amount of such payments. 10. Borrower Not Releued; Forbearaace By Lender Not a Wai..r. Ext.nsion of Ihe time for payment or modi6cation of amortization of th. sums secured by this Security Instrum.nt granled by Lend.r to any successor in inl.rest of Borrow.r shall not operal.to release lb. liabilily of Ibe original Borrow.r or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in int.rest or refuse to extend time for payment oroth.rwise modify amortization ofth. sums secured by Ibis SecurilY Instrum.nt by reason of any d.mand mad. by Ih. original Borrow.r or Borrower's suoc:cssors in inl.rest. Any forbearance by Lend.r in .xercising any righl or remedy shall not be a waiver of or preclud.lh. exercise of any right or remedy. 11. Su_n and Aulgaa Bound; Joint and s...n1 Liability; Co-aIIlDen. Th. covenants and agreemenls of this Security Instrument shall bind and ben.6tth. successors and assigns QfLend.r and Borrower, subject to lb. provisions of paragraph 11. Borrower's covenants and agreements sball bejoint aud several. Any Borrow.r who co-signs this Security Instrument bul does not .xecul. the Note: Ca) is co-signing this Security Inslrum.nt only 10 mongag.. grant and eonv.y Ihal Borrower's interest in the Property under the t.nns oflhis Security Instrument; (b) is not personally oblipted 10 pay Ibe sums secured by tbis Security Instrumenl; and (c)' agrees Ibat Lender and any oth.r Borrower may agree 10 .xl.nd, modify, forbear or make any accommodations with r.gard to tb. t.nns of this SecurilY Instrumenl or Ih. Not. without lbat Borrow.r's consent. 11. Loan (]wps. If the loan secured by Ihis Security Instrument is subject to a law which sets maximum loan charges, and lhal law is finally interpreted so lhat the interest or oth.r loan charges collected or 10 be collecled in . connection wilh Ihe loan .xceed th. permilled limits. th.n: (a) any sucb loan charge shall be reduced by the amounl necessary to reduce the eharg. 10 th. permitted limit; and (b) any sums already collected from Borrower wbieh exceeded pennitted limils will be refunded to Borrow.r. Lender may choose to make Ihis refund by reducing Ih. principal owed under the Note Dr by making a direct paymenllo Borrow.r. If a refund reduces principal. the reduction will be treated as a partial prepayment withoulany prepaymenl charge und.r th. Note. 13. Legislalloa Alt'et:dtta Leader'a RJabtL If enaclment Dr expiration of applicabl. laws has the elfecl of rendering any provision ofth. Note Dr lhis Security Inslrument un.nforceabl. according 10 its terms. Lender, al its oplion. may require immedial. paymenl in full of all sums secured lly Ihis Securily Inslrumentand may invoke any remedies penniued by paragraph 19. If Lender exercises Ihis option, Lender shall take the steps specified in Ih. second paragraph of paragraph 17. . 14. Nollc:a. Any Doliceto Borrow.r provided for in Ibis Security Instrumenl shall be given by delivering il Dr by mailing il by 6rsl class mail unless applicabl. law requires use of anoth.r method. Th. nolice shall be direcled to Ihe Propeny Address Dr any oth.r address Borrow.r designates by Dotice to Lender. ADY notice 10 Lender shall be given by first class mail 10 Lender's address slated herein or any other address Lender designales by notic. to Borrow.r. Any notice provided for in this Security Instrum.nt shall be deemed to bav. been given 10 Borrower or Lend.r when given as provided in this parllIfIIph. 15. Go..mlug laW; Snerablllty. This Securily Inslrument shall be gov.rned by fedcraJ law and lb. law of the jurisdiction in which the Property is located. In Ih. event thai any provision or claus. of this Securily Inslrument or the NOI. conllicts wilh applicabJelaw, such conllicl shall nol affecl other provisions of this Securily Instrument or the NOI. which can be Biven .O'cot withoUllh. confticting provision. To this end the provisioDs of Ihis Secarity Instrument and Ihe NOI. arc declared to be severable. 16. 1Iomnrer'a Copy. Borrow.r shall be given on. conformed copy of lb. Nol. and of this Security Instrum.nl. 17. Tralllfer of tbe PnIper1y Dr a BenellcW Iaterest ia Borrower. If all Dr any, pan of Ih. Propcny or any interest in it is sold ortransf.......J (or if a benclicial inl.rest in Borrower is sold or transferred aDd Borrower is nol a Datural person) with""l Lender's prior written consenl, Lender may, al its oplion. require immedial. paym.nt in full of all sums ....ured by this Security Inslrument. However, this option shall not be cxcrc:iscd by Lender if exercise is probibited by fedcnllaw as oflb. dal. of this Security Instrument. If Lender exercises Ihis option, Lender shaD give Borrower nolice of accc1....tion. The notice shall provide a period of aot less lban 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by Ihis Security Instrument. If Borrower fails 10 pay these sums prior to the expiration oflhis period. Lender may invoke allY remedies permitted by this Securily IDstrument without further notice Dr demand on Borrower. 18. 8omnrer''o IUpt 10 R--. If Borrower meets certain condilions, Borrower shall have the righl 10 have enforcemenl oflhis SecurilY Instrumenl discontinued alany lime prior 10 the carli.r of: Ca) S days (or sucb other period as applicabl. law may specifY For reinstalement) before saI. ofthc Property pursuanlto any power ofsal. conlained iD this Secu,ilY Instrument; or (It) entry of a judgment enforcing lhis Security Instrumenl. Those condilions arc that Borrow.r: (al pays Lender all sums which then would be due under Ihis Security Inslrument and the Note had no acceleralion Occurred; (It) cures any defaull of any Olher covenants Of agreements; (c) pays all ..penscs iDcurred in enForcing this Security Instrument, inc:luding. bUI nOllimiled 10. r....,aabl. allornc:yJ' fc:cs; and Cd) lakes such liction as Lend.r may rcasonably require 10 _ure thai Ibe lien of Ihis Security Instrument, Lender's rights in th. Property aDd Borrower's obliplion to pay th. sums r.:ured by lhis Security Instrument ,hall conlinu. uDchanged. Upon reinstatement by Ilorrtrwcr. this Security In..rument and Ih. oblipliims secured hereby shall remain fully elfeclive as if no acceleration had occurred. HO'A'ever. Ihi. nlbt 10 ..anal.le shall nDlapply in thecue oflcceleration under paragraphs I J or 17