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87. 106068
<br />If Lender regmrevl Mortgage insurance as it condition of making the loan secured by this Security Instrument,
<br />Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the
<br />insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law.
<br />8, Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property, lender
<br />shall give Bllrrlll \'c'r notice u1 the time of or prior loan inspection specifying reasonable cause for the inspection.
<br />9, Condemnation. The proceeds of any ,Huard or claim for damages, direct or consequential, in connection with
<br />any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid to Lender.
<br />In the event of it total taking of the Property, the proceeds shall be applied to the sums secured by this Security
<br />Instrument, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall he reduced by
<br />the :nllount of file proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately
<br />More the taking, Lit%ulcd by (b) the fair market value of the Property immediately before the taking. Any balance shall be
<br />paid lu Borrower.
<br />If the properly is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to
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<br />make an award or settle a claim for damages. Borrower fails to respond to Lender within 30 days after the date the notice is
<br />green. Lender Is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or
<br />to the sums secured by this Security Instrument, whether or not then due.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of such payments.
<br />10, Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />nloditicauon of amortization of the sums secured by this Security Instrument granted by Lender u) any successor in
<br />interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest.
<br />Lender ,hall not he required to commence proceedings against any successor in interest or refuse to extend time for
<br />payment or of hcrw tic lIIod1fv amortization of the SLI111S secured by this Security Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by Lender In exercising any right or remedy
<br />shall not he it w a %er of or preclude the exercise of any right or remedy.
<br />11. Successors and Assigns Bound; .Joint and Several liability; Co- signers. The covenants and agreements of
<br />this Sccunty ItlslrUnICIll ,hall hind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreements shall bejoint and several. Any Borrower who co -signs this Security
<br />Instrument but does not execute the Note. (a) is co- signing this Security Instrument only to mortgage, grant and convey
<br />that Borrower', Interest ul the property under the terms of this Security Instrument; (b) is not personally obligated to pay
<br />the .urns secured by this Security Instrument: loud (c) agrees that lender and any other Borrower may agree to extend,
<br />modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />12, Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan
<br />charges. and That law Is finally Interpreted so that the interest or other loan charges collected or to be collected in
<br />connection wish the loan exceed the permitted limits, then: ;a) any such loan charge shall be reduced by the amount
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<br />necessary to reduce the charge to the permitted limit: and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will he refunded to Borrower. Lender may choose to make this refund by reducing the principal owed
<br />under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Note
<br />13. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has the effect of
<br />rendering any pnwlsion of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option,
<br />may require immediate payment in full of all sunis secured by this Security Instrument and may invoke any remedies
<br />pernutIcd by paragraph 14. If Lcnder exercises this option, Lend cr,haII take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any nonce to Lorrower pro\ ided for in Ibis Security Instrument shall be given by delivering it or by
<br />mailing it by tin[ class mall unless applicable law requires use of another method. The notice shall be directed to the
<br />Property Address or anc other address Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br />first class mail to Lcnder', address stated herein or any other address Lender designates by notice to Borrower. Any notice
<br />provided for in this Sccurny instrument shall he deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Law. Severability. phis Security Instrument ,hall he governed by federal law and the law of the
<br />jurisdiction in vvhi,h the property is located In the went that any provision or clause of this Security Instrument or the
<br />time :onfllcl, with ipplicahle law, such conflict shall 1101 affect other provisions of this Security In,trument or file Note
<br />Mit :h caul he ervcn cffe,t without the conflicting provision I'o this end the provisions of this Security Instrument and the
<br />Note are declared I'1 he severable
<br />Ib. Borrower's ( opy. Bmrro\ver shall he given one conformed ropy of the Note and ill* Ilit, Security Instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. 11' all or luny par of the Property or any
<br />interest in it I,, ,old or transferred for ifa beneficial Interest in Borrower Is sold or transferred and Borrower 1s not it natural
<br />person) wuhoui Lender's prior written consent, Lender may, at u, option. require immedite pacnlent in full ofall sums
<br />secured by this Sc'iunly Instrument. however. this option shall not he exercised by Lcnder if c \arise is prohibited by
<br />federal law as of the datc of Ihi, S"unty Insitunlenl.
<br />If I cndrr ev,rcl,cs Ihls optlolI, 1XIldl'I shall gr.c 11ornm\cr nonce ofacrcicntlon. I hr moue. ,hall provide it period
<br />of ooh Ie„ than i0 d.,%, fn,nl [he e1.uc the noire IS &11nCled mr rne,icd within which Borrower nul,1 I,.ly all ,mn, secured by
<br />till, Sci urlty In,lrtlnlcur If Burrower Eels to pay Ihe.e.urns prior tin the expiration of Iles peruuf, I rider nlay choke any
<br />re'me'dies perltllied by this Security InwUnlellt W1110111 further notice ordernand oil Bnii,mvi
<br />18. Borrnwcr'S Right to Reinstate. It lloi row'e'r meets certain conditions, Born ,wcr shall have' the right n, ha%c
<br />cell rr''rttvnt „t!hil tie,, tinily In,trument dlscotltiltned .t[ .Illy dine prmr ill till etcher ill. lit) G da \, („r ,1tch „7het pctwd i,
<br />;11'111 -1hir law III.,\ ,p-11v f,)r r,l n,talcinvni I h0otc ,:tic• of the piopeil\ pllr',Ilallll to all\ pwAc•I it ,rile iollialn'-d 111 1111.
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<br />Sc,:tit t> In it tin-:lit. „r (h) c ri[ry ,It it,ndginew enfory mg till, Scv defy Insirunwill I hose „mdim, n, n« Ilial Hot rower
<br />r ti lmy. bider .ill sums w Ill( 11 then wmuld hr title under IIlls Security I list Iimicnt and Ili, tiotc had no avvdel iUou
<br />it'd til l din's ,or, tiehrtilt of any Ill hcr , ovrllan(, 01- ,tgrccinclll, I1-) lmly all rvprn,c, Ill, tit Id Ill cnfiurnlg this
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