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<br />86-- 1038146
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<br />If Leader sequirrd molagage. insurance as a,cond'ttion of making the loan secured by this Security Instrument,
<br />" Borrcnvcrshali pay,tis piremtwaerequired to maintain the insurance en effect until °such time as the requirement for the
<br />insurance terminates "60* with $ocroiver'a and `Lenders written agreement or applicable law.
<br />g• 1ptfctioi Lit et eft its bent trap make reasonable entries upon and inspections of the Property. Lender
<br />shall eve Hoirovver- Ile b e pt m toaH-ihspection specifying reasonable cause for the inspection.
<br />4 Cotttledtastio* " The proceeds of airy swara or claim for damages, director consequential, in connection with
<br />any cattiietitnation or other in ing of any part of the Property, or for conveyance in lieu of condemnation, are hereby
<br />" assigned aaashall be paid to:Lender. .
<br />In the event of a total taking of the" Property, The proceeds shall be applied to the sums secured by this Security
<br />Insinitnenl, wrhether or "not then due, with "any excess paid to Borrower. In tite event of a partial taking of the Property,
<br />ueleiiirWrrbiker and Tender otherwisragreBe in wri ting, the sums secured by this Security Instrument shall be reduced by
<br />tbe'amount of the proceeds multiplied by the following fraction; (a) the rata! amount of the sums secured immediately
<br />Wore the taking, divided by (b) the fair market value of the :property immediately before the taking. Any balance shall he
<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 orsettle 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 />to the sums Secured by ihis Security instrument, whether or not then due.
<br />U'nle'ss Lender arid Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the'. due elate of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments.
<br />10, Borrower Not Reletised; 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 in
<br />interest of.florrower 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 orntherwise 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 and Assigns Bound; Joint Aid :Several Liability; Co- signers. The 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 IT Borrower's covenants and agreements Shall be joint 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's interest in the Property under the terms of this Security Instrument: (b) n 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 accommodations with regard to the terms of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />IZ. Loan Charges. if the loan secured by this Security Instrument is subi-I 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 he collected in
<br />connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permitted limit. and (b) any sums already collected from Borrower which 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 Borrower. If a refund reduces principal, the reduction will he 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 provision of the Note or this Security instrument unenforceable according to it. terms, Lender, at its option,
<br />may require immediate payment in full of ail stuns secured by this Security Instrument and may invoke any remedies
<br />permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of
<br />paragraph 17
<br />14. Notices. Any notice to Borrower provided for in this Security instrument shall fee given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br />firsuclass mail to Lender's address stated herein or any other address Lender designate, by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />1S: Governing Law; Severability. This Security instrument shall be governed by federal law and Ilie law of the
<br />jurisdiction in which the Property is located. In the event that any provision or clause of [lies Security Instrument or the
<br />Note Conflicts with applicable law, such conflict shall not atlect other provisions of this Security instrument or the 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 />IC Borrower's Copy, Borrower shall be given one conformed copy of the Note and of this Sec unt) Instrunieni.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. if all or any part of the Property or any
<br />interest in it.ts sold ur transferred (or ifa beneficial interest in Borrower is sold or transferred and Borrower is lint a natural
<br />person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums
<br />secured by this Security instrument. Nowevcr. this caption shall not be exeicised by Lender if exercise is prohibiled by
<br />federal law asofthedateof this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. 'the notice shall pros ide a period
<br />of not less than 30 days from the date the notice is delivered or marled within which Borrower niust Pay all sums secured by
<br />this Security Instrument. If,Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke all
<br />remedies permitted by this Security. Instrument without further notice or demand on Borrower. y
<br />is. borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the regret to have
<br />cttfcxcctne01 of this Security Instrument discontinued at any time prior to the earlier of. (a) 5 days (or such other perunl as
<br />Applicable law may specify (err reinstatement) before sate of the Property pursuant to any power Of sale contained tit this
<br />Security Instrument; or (b) entry of a judgment enforcing this Security li muincnt fhose condom ns are that Iic.rrowcr
<br />(a),pAys Lender all sums which then would be due under this Security Instrument and the Note had no act clerarron
<br />ateutrht (b) cures any default of any other covetlunts or agreement.,, (c) pays all cxlKUses incurred lit enforcing Ilu,
<br />Swurity instrument, including, but not limited to, reasonable attorneys' fees, and (d) t,ikcs such action its Lcndei mas
<br />reasonably require to assure that the lien of this Security Instrument, Lender's rights o, Oie Property amt l3ceriouci's
<br />obligation la pay the sums secured by this Security Instrument shalt continue unshaoged t 11011 rcuiu,,rcnu ni nt
<br />Borrower. this Security instrument and the obligations securest hereby %half remain 14411) ette, u,r it, if w, a;,, icr.ane,n haci
<br />occurred However. this right to reinstate shall not apply tit lite rase of ac :elcran,m mndee 1 : ,,,
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