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88- 106620 If Lend.r requl.-ed monlllae insurance as a eondilion of makina the Joan secured by Ihls Seeurity Inslrum.nt, Borro...r shall pay the premiums requi.-ed 10 maintain the insurance In errecl until .uch time os Ih. requirement for Ih. insurance terminales in aeeonlanc. ..ilh Borrower'. and Lender'. wrinen aareemenl or applicable Jaw, e. lupecdon, Lender or it. agenl may make reasonable entries upon and in.pection. of the Propcny, Lend.r .halllive BolTOwu notic: al the time of or prior 10 an inspection .pecifying reasonabl. cau", for the in.pection, 9. Coadenmatlon. Th. proccc:ds of any award or claim for damages, direcl or con.equential, in connection wilh any condemna.tion or other takina of any part of the Propeny, or for conveyance in lieu of condemnation, are hereby uslgned and .haIl be paid to Lender, In th. eyent of a total taking of the Property, Ih. proceed. shall be applied to the sums secu.-ed by Ihis Security Inmumenl, whether or not then due, wilh any excell paid 10 Borrower, In Ih. eYenl of a panial taking of the Property, unless Borrower and Lender olherwj", agree in writing, the sums secu.-ed by Ihis Securily Instrument shall be .-educed by Ihe amount of Ihe proceeds multi piled by the following fraclion: (a) the tolal amount of the sums _ured immediately before the taking, divided by (b) the fair markel value of the Propcny immediately beforelhe laking, Any balance shall be paid to Borro..er. If Ihe Propeny is abandoned by Borrower, or if, after notice by Lender 10 Borrower that the eondemnor offers to make an awvd or settle 8 claim for damages, Borrower fails to respond 10 Lender within 30 days after the dale the notice is given, Lender is authorized to collect and apply the proceeds. at its option, either 10 restoration or repair orlhe Property or to the sums secu.-ed by Ihis Security Instr.unent, whether or not then due. Unless Lender and Borrower otherwise agree in writing, Bny application ofprocccds to principal shall not extend or postpone the due date of the monthly payments rererred to in paragraphs I and 2 or chanae the amounl ofsuch payments, 10. Borrower Not Releued; ForlJeanuee By Lender Not a WaI,er. Extension of th. time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest or Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest Lender sba1l not be required to commence proceedings against any successor in interest or refuse to extend time for payment or olherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall nol be a waiyer of or preclude the exercise ohny right or remedy. 11. Succeaon and Aaaljpll Bound; Joint and S..eral LlabWty; eo.signers. The coYenants and agreements of this ~urity Instrument shall bind and benefit the successors and assigns ofLcnder and Borrower. subject to the provisions of paragraph 1 7. Borrower's covenants and agreements shall be joint and several. Any Borrower who co.signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage. gram and convey that Borrower's interest in the Propeny under the tcrms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (cJ agrees thai Lender and any olber Ilorrower may agree 10 extend, modify. forbear or make any accommodations with regard to the tcnns of this Security Instrument or the NOle without that Borrower's consenL 12. Loan Cbarps. If the loan secu.-ed by this Security Inslrument is subjecl to a law which sets maximum loan cbarges, and that Jaw is finally interpreted so that the int.....1 or olh.r loan cbarges eollected or to be eollecled in connection wilb the loan exceed the pennitted limits, Iben: (a) any such loan charge sball be reduced by Ihe amount necessary 10 reduce tbe cbarge to the permitted limit; and (b) any sums already collected from Borrower wbich exceeded permined limits will be refunded 10 Borrower. Lender may choose to make Ibis refund by .-educing the principal owed under the Note or by malting a direcl payment tn Borrower. If a refund reduces principal. Ihe .-eduction will be treated as a panial prepayment without any prepayment cbarge under Ihe Note. 13. LesialatIoa Affecting Lender'. Righta, If enactment or .xpiration of applicabl. laws has the .ffect of rendering any provision of the Note or this Security Instrument unenforceable according to its lerms. Lender. at its option. may require Immediate payment in full of all sums secured by Ihis Security Instrument and may inyoke any remedies pennilted by paragrapb 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of paragraph 17, 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing il by first class mail unless applicable law requires use of another m.thod. The notice shall be directed 10 the Propeny Address or any other add..... Borrow.r designates by notice 10 Lender. Any notice to Lender shall be given by fint class mail 10 Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. GoY.mlnl LaW; Se,erabWty, This Security Instrument shall be goyerned by federal law and th. law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrumenl or the Note conflicts with applicable law, such conflict shall not aff'cct other provisions afthis Security Instrument or the Notc which can be given dl'cc:t without tbe conflicting provision. To this end the provisions of this Security Instrument and thc Note aredeclarcd to be severable. US. Borrower'. CopY. Borrower shall be given onc conformed copy of the Note and of this Security Instrument. 17, Tranafer or Ibe Property or a Beaeflcf" Inlerest In Bo,,"wer, If all or any pan of lh. Propeny or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural penon) without Lender's prior wrilten consent. Lender maYt at its oplion. require immediate payment in full of all sums secured by Ihis Security Instrument, Howev.r, Ihis option shall not be .x.rclsc:tl by Lender if exercise Is probibiled by federal law as oflbe date ofthis Security Instrument, If Lender exercises this option, Lender shall give Borrower notice nf acceleration. The notice shall provide a period of not less than 30 days from Ihe date Ihe notice Is deliye.-ed or mailed within which Borrower must pay all sums secured by this SecurilY Instrument, If Borrower fails to pay these sums prior to the expiration of this period, Lender may Invoke any remedies pcnnitted by this Security Instrument without further notice or demand on Borrower. 18. Borrower'. Rlatat to RelDState. If Borrowcr meets cenBin conditions. Borrower shall have the right to have enforcement of this Security Instrument disconlinued al any time prior to the ..rlier of: (a) 5 days (orsuch other period as applicable ... may specify for reinstatement) before sale of the Property pursuant 10 any power of sale contained in this Security Inslrumenl: or (h) entry of a jUdgmenl enforcing Ihis Security Inslrument. Those conditions are thai Borrow.r: <a) pay. Lender aU sums which then would be due under this Securily Instrument and the Note had no acceleration occurred; (b) cures any default of any other coYenanls or agreements: (c) pays all expenses incurred in enforeina this Security Instrument, includinSt but not limited to. reasonable attorneys' fees; amJ Cd) lakes such action as Lender may RUODIbly require to usure Ih.t the lien of this Security Instrument. Lendcr's rights in the Property and Borrower's obIiption 10 pay the sums secu.-ed by this Security Instrum.nl shall eontinue unchanged. Upon reinSlalement by Borrower, this Security Irmrument and the obUptionl secured hereby shall remain fully effective lIS irno acceleration had occurred. Ho.....er. this rigln to mnslaleshall nOI apply in the case ohccelerauon under paragraph, IJ or 17.