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<br />86-0103722
<br />If Lender required mortgage insurance as at condition of nuking the loan secured by this Security Instrument,
<br />10"fuwer shall PAY The premiums required to maintain the insurance in efl'eet until such time as the requirement for the
<br />insurance ierminrles in ncsordance wtlh Borrower's and Lender's written agreement or applicable dew.
<br />S. Ir/adion, Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower nwiceat the time of or prior io an inspection specifying reasonable cause for the inspection.
<br />f. Conillo aMlait. The proceeds of any award or cli im'for damages, direct or consequentul, in connection with
<br />any condemnation at other Hiking of any part of the Property, or for conveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid to Lender.
<br />Ii► the event of a 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 an "nil of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately
<br />before the taking, divided by (b) the for 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 IJorruwer that the condemnor offers to
<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 />given. Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or
<br />90 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 dale of the monthly paynscnis referred to in paragraphs 1 and 2 air change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Leader 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 in
<br />interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors to 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 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 be a waiver of or preclude the exercise of any right or remedy.
<br />11. Successors asd Anfigwtlf Hoossid Joint std Several LiaNlitY; Co- sigtsers. The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender Borrower,
<br />and subject to the provisions
<br />Of paragraph 17. Borrower's covenants and agreements shall be)<ant and several, Any Borrower who co-signs this See urny
<br />Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey
<br />;
<br />that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated at pay
<br />the sums secured by this Security Instrument; and (c) agrees that Lender and any other torrower may agree to extend,
<br />modify, forbear
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<br />or make any accommodations with regard to the terms of this Security Instrument or the Note without
<br />r
<br />that Borrower's consent.
<br />'a
<br />12. Lose CAarges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan
<br />charges, and that law is haally interpreted so that the interest or other loan charges collected or to be collected in
<br />connection loan
<br />with the exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />necemry to reduce the charge to the permitted limn; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be rel'undel to Borrower. Lender may choose to make this refund by reducing the principal owed
<br />}
<br />under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be created as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislation AAectiag Leader's Rights. If enactment or expiration of applicable laws has the effect of
<br />rendering any provision of the Note or Ihs Security Instrument unenfurceabla according to its Icrnis. Lender, at its option,
<br />may require immediate payment in full of all sums secured by this S« III tiy Instrurncni and may invoke any remedies
<br />permitted by paragraph 19. If Lender exercises this Option, Lender shall take the stein spo-Mcd in the second paragraph of
<br />paragraph IT
<br />14. Notices. Any notice to Borrower provided for no this Security Instrument shall he given by delivering it or by
<br />nailing it by first class mad unless applicable law requires use of another incthad The notice %hall he directed to the
<br />Property Address or any other address Borrower designates by notice to Lcndcr Any notice to L—ender shall be giveii by
<br />first class trod to Lender's address stated herein or any other address Lenderdcsignates by notice Io Borrower. Any nuucc
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or Lcnder when given as provided
<br />in this paragraph.
<br />IS. Governiag Law; Severahility. This Security Instrument shall be governed by fedcrd law and The law of the
<br />jurisdiction in which the Property s located in the event that any provision air cdausc of this Sccunty Instrumcni of the
<br />Note confltets with applicable law, such conflict shalt not affect other provisions of this Security Instrument on she Note
<br />which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the
<br />Note are declared to be severable.
<br />Ilk Borrower's Cop. Borrower shall be given one conformed copy of the Note end of this Security instrument.
<br />17. TruwW at the Property or a Beneficial Interest is Borrower, if all or any part of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower its sold or transferred and Borrower is not A natty At
<br />person) without Lender's prior written consent. Lender may, at its option, require immediate payment in full tit all sums
<br />secured by this Security Instrument. However, this option shall not he exrrcisel by Lender if exercise its prohibited by
<br />federal law as of the date of this Security Instrument.
<br />If Leader exercises this option. Lcnder shall give Borrower nonce of acceleration The notice shall provide a porn J
<br />of sot less than 30days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security Instrument. if Borrower fads to pay these sums prior to the expiration oft his period, Lender may invoke any
<br />remedies permitted by Ihis Security Instrument without further notice or demand on Borrower
<br />IS. I/orrswsr'a Rfght to Reinstate. If Borrower meets certain cmolitirso.s. War rower shall have the nalit its have
<br />enforcement of this Security ltulrument discomissued at any rime poor sir she earlier of (a) 5 days lot such other pcn,so s s
<br />sppheable law may specify for reinstatement) before %ale of the Property pursuant no any power of sale %ontatned it, ibis
<br />Security Instrument, at (b) entry of a judgment enforcing this Sri urity Instrument Thirse con,huo l% are that B„rruwrr
<br />(a) pays Lender all sums which then would he due under that Security Instrument said [lie Nose had nee a—vicratiun
<br />psxurred, (b) cures any default of any other covenants or agreements. (c1 pays All cxtVn%e% inturred in craft ,,,rar this
<br />Security Instrument, including, but tnbn limned tit, rea%onahte atrurneys' lees, and !d) r.drs %u,h ar:oim ss t ftldr( nut,
<br />reaawubly require to assure that the licit of this Security htstrument, Lcnderl rights in the Prolieny and IL,io rr c
<br />obligations to pay the %ums secured by slits Smurily In%trurneni %hall ,ommue un.h,,nKrd 1'Iw,1 t.,,,. ,, ., ..,, „y
<br />Borrower, this Securely la%etunneat and the obligation% secured hereby %hall wort.,- t,i t% rdc. i,%r r %,t n, ,i.. ri. r:, :.,., r,a,s
<br />,�, rr.•,t 11,.we>rer, ihns rrahi iu rrurs: rte %r:.,tl nisi Apply in the-- „s 111;— — , ., i .:
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