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86-- 100978
<br />{ If Lender required mortgage insurance as a 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 Bmower'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 Borrower notice at the time of or prior to an inspection specify ing reasonable cause for the inspection.
<br />9, Condelmotioa. The proceeds of any award 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 a total taking of the Property. the proceeds shall be applied to the sums secured of this Security
<br />Instrument, whether or not then due, with any excess paid to Burrower. b the went of a partial taking the Property,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shalll l he reduced by
<br />the amount of the proceeds multiplied by the following frm Lion: (a) the total amount of the sums secured immediately
<br />before the taking, divided by (b) the fair market Value of the Property immediately before the taking. Any balance shall be
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemnor offers to
<br />make an award or settle a claim for damages. Borrower fails to respond to Lender within >0 days after the date the notice is
<br />given. 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 scoured by this Security Instrument, whether or not then due.
<br />Lnless Lender and Borrower otherwise agree in writing. any application of proceeds to principal shall not extend or
<br />postpone i he due date of the monthh' payments referred to in paragraphs 1 and '_ 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 />modification of amortization of the sums secured by this Security instrument granted by Lender to any successor to
<br />interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest.
<br />Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured by this Securty Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successors m interest. Any forbearance by Lender in exercising any right or remedy
<br />shall not be a waiver of or preclude the exercise of any right or remedy.
<br />11. Successors and ,Assigns Bound; Joint and Several Liability; Co- signers. Th covenants and agreements of
<br />this Security instrument shall bind and benefit the successors and assigns of Lender and Borrower. subject to the provisions
<br />of paragraph 1 ?. Borrower's t o +chants and agreements shall be joint and, Any Borrower who co -signs this Security
<br />Instrument but does not execute the Note: (a) is co- signing this Security Instrurnent only to mortgage. grant and convey
<br />that Borrower'. interest in the Property under the terms of this Security Instrument: (ht is not personally obligated to pay
<br />the sums secured by this Security' instrument; and (c) agrees that Lender and any other Borrower may agree to extend,
<br />modify, forbear or make any acc ommodations with regard to the terms of this Security Instrument or the Note without
<br />that Borrowers consent
<br />Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan
<br />charges, and that law n finally Interpreted so that the interest or other loan. charges collected or to he collected in
<br />by the amount
<br />connection with the loan exceed the permitted limits, then: tat anc such loan change shall he reduced
<br />necessary to reduce the charge to the permitted limit: and (b) any sums already collected from Borrower whi'li exceeded
<br />permitted limits will be 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 Burrower. 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 r expirali n of appiioahlc Low, has the effect of
<br />,
<br />rendering any provision of the Note or this Security' Instrument unertfor cabic a cording tons tern -rs Lender, at its option,
<br />may' require immediate payment in full of all sums secured by :his Security instrument and may imokr ling rcmedic
<br />permitted by paragraph l9. if Lender exercises this opn()n. 1 ender shall take the steps ,peeihrd m tl,e,ec, rid paragraph of
<br />paragraph IT
<br />14. Notices. Any notice to Borrower praytdeci firm this Securtiy Instrument shall he given by dehyerrr :g a or he
<br />mailing it by first class mail unless applicable law requires use of another method The nonce steal( he directed to the
<br />Property Address or art' other address Borrower designates by notice to Lender Ann note c io Lender sha Il he green by
<br />first class mail to Lender's address stated herein or any other address Lender designates h} notice to Borrower Am
<br />no
<br />provided for in this Security Instrument shall lie deemed to liaye been given in lirrrowcr or Fender \4 lien gn en is provided
<br />in this paragraph.
<br />15. Governing Law; Severability. phis Security Instrument ,hall he goo erned h:. fydcral law and the law t,I the
<br />jurisdiction in which the Property is located. Iii the cvem that any provision or clause 11 .lies Sccw itx Instrument r'r the
<br />Note conflicts with applicable law, such conflict shall not afl'ect onccr provisions of ihu Security lnstru *ne•nt rir Tile Nate
<br />which can be given effect without the cnnfiicting prox utor. To this end the pro -,i,io s of thT, Securry hisirument and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be green un+ ennformed cr'p> (,f the More and this Secun!y lnstnnnen.?
<br />V. 'Transfer of the Property or a Beneficial Interest in Borrower. If iiii or an) pan of tfic P sporty nr .im
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transfc r ui and Bnrniuer i not a rttnurai
<br />person) without Lender's prior written consent. Lender may. at its option, reyuin. 'mnxd, ate paymeru u) lull „f all Burns
<br />secured by this Securing Instrurnent. However. this opiwri shall nnT he cxcicis•d try Lender it exercise !s prohihncd by
<br />federal law as of the date of this Security Instrument
<br />If Lender exercises this option, Lender shall give Borrower notice of accelcranon. The not ice shall prig idc d t,rn,xi
<br />of not less than .10 days from the date the notice is delivered or mailed w Mein which fill r r('w e•r nn.ist r,a, all •urn. secnre.t h)
<br />this Security' Instrument If &grower fails to pray these sums prior to the expir iu ,r of this per','d, Lee +der nr,n ;ni;,l r any
<br />remedies permitted by thisSm -unity Instrument without further nnt1(c ca demand in Brrrnwer
<br />18. Borrower's Right to Reinstate. If BnrrOwer meets cerra n :,tridililit's. liorrc,wu sh.i'l h I !lie ,fit is iii„'
<br />cnfurye mein of this Securit,, Instrument discontinued at any t7me prier 1, lhl: earlier at 'di
<br />applicable law rt * ctfy fr,r ctnstalcment t tech re sale A the Purl. P11--oil! h' :u t w er t
<br />Sacurny IT'+trar'li.rit r ibt entry of a judgment eni rn.ra his Sc. '. :rite (n rumen, 1 h n ; ' ,re T Is r �k
<br />tai Inder a,l ,un, wht,h .hen t,e tut under flu, tie+ur t t� n t, ,.0 s , iths,i' j 1")
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