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<br />86- 105453
<br />If Lender required mortgage insurance as a condition of making the loan secured by this Secu. ity 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 taw.
<br />8. Inspection. Lender or its agent may make reasonable entries upon and insputions of the Property. Lends
<br />shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />9, Condemnation. The r,roceeds 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 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 be reduced by
<br />the amount 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 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 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 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 1 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 />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 ongtnal 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 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 and Several Liability; Co- signers. The covenants and agreements of
<br />this Security Instrument shalt bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17 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 Secunty Instrument; (b) 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 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 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 reducrs 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 expi. aeon of applicable laws has the effect of
<br />rendering any provision 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 sums secured by this Security Instrument and may invoke any remedies
<br />permitted by paragraph 19 If Lender exercises this option. Lender it 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 be 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 />first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice
<br />provided for to this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph
<br />15. Governing Law; Severability. This Secunt) Instrument shall be governed by federal law and the law of the
<br />jurisdiction in which the Property is located In the event that any provision or clause of this Security Instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect 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 />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of ;his Security Instrument
<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 is sold or transferred (or if a beneficial interest in Borrowe, is sold or transferred and Borrower is not a natural
<br />person) without Lender's prior wntten consent. Lender may, at its option, require immediate payment in full of all sums
<br />secured by this Security Instrument. However, this option shall not be exeicued by Lender if exercise is prohibited by
<br />federal law as of the date of this Security Instrument.
<br />if Lender exercises this option. Lender shall give Borrower notice cif acceleration 7'hc nonce shall provide a pentvd
<br />of not less than 30 days from the date the notice is delivered or mailed w ith n which Borrower must pay all sums secured b)
<br />this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, lender may invoke an)
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower
<br />18. Borrower's Right to Reinstate. If Borrower meets certain c,mdnwns, Borrower shall have the right to have
<br />enforcement of this Security Instrument chwonnnurd at any time prior it, :he earlier of. tal 5 days (or such other period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to and Ix,wrr if' sale ,,untamed ni this
<br />Security Instrument, or (btenir) of a judgment enforcing this Security tnstrumcn; Those conditions are that Nuriowrr
<br />fat pays lender all Burns which then would be due under the Security Instrument and the \cite )iad tic, a.,rlcrauun
<br />,xcurred, tbt sure% any default nl any other covenants "r agreements i•_i pays ail cil+crlw, nicgned tit enf:.x,nig 1111~
<br />Security Instrument, indutimg. but not limited to. rcwwrlablr atiorne)s" fees and id) lakes such action as i ender real
<br />rrasunahly require it, assure that the heir of this Cecuru) 11"TUlnrnl, 1 ender s nFhts lit the 1't.'}+rrts and Bill F � 0 .
<br />tllge(,)n ti, poi the ruin% setnrrd h) this Selunti Il1AIrumclit s1W11 •,t >I1tlllllf nn,.hongcd (pOtt liln 1„!,•n1(f,!
<br />liurrower this ssc, iris: In,irurnew ,qri ttic, bligalicfis secured hereby, shall rrrnau: iuli_v e lc. rn a, if cirrsii, r ?w.;
<br />u; rest lit,�escr, chic right u, reuntatr sfiall not apply in the a� nfa..elcr,er,•,ii urldri + rr�i'
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