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86-100011 <br />If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, <br />the insurance in effect until such time as the requirement for the <br />Borrower shall pay the Premiums, required to maintain <br />insurance terminates in accoidanoe with Borrower's and Lender's written agreement or applicable law. <br />& lapaetiow. 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 specifying reasonable cause for the inspection. <br />9. COndemantiow The proceeds of any award or claim for damages, direct or consequential, in connection with <br />any coudcruttstion 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 />in writing. the sums secured by this Security Instrument shall be reduced by <br />unlea Borrower and bender otherwise agree <br />the amount of the proceeds multiplied by the following fraction: (at 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 />fails to Lender within 30 days after the date the notice is <br />make an award or settle a claim for damages. Borrower to respond <br />Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or <br />given. <br />to the sums secured by this Security Instrument, whether or not then due. <br />in any application of proceeds to principal shall not extend or <br />Unless Lender and Borrower otherwise agree writing, <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 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 operatic to release the liability of the original Borrower or Borrowers successors in interest <br />Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time t, <br />by this Security Instrument by reason of any demand made <br />payment or otherwise modify amortization of the sums secured <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. Saxeaaors and Asdgas Bound, Joint and 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 />Any Borrower who co -signs this Security <br />of paragraph 17. Borrowers covenants and agreements shall be joint and several. <br />Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage, grant and convey <br />terms of this Security Instrument; (b) is not personally obligated to pay <br />>, <br />that Borrowers interest in the Properly under the <br />the stuns secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, <br />rrmdifi', forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without <br />that Borrower's consent. <br />U. 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 />the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount° <br />connection with <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 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 />.' <br />rendering any provision of the Noe 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 shall take the steps specified in the second paragraph of <br />paragraph 17. <br />li. Notices. Any nonce to Borrower provided for in this Security tnsmimrnt shall be given by delivering in 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 />Prupeny Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by <br />first class trail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice <br />deemed have been to Borrower or Lender when given as provided <br />provided for in this Security Instrument shall be to given <br />in this paragraph. <br />15. Governing Law, Severability. This Security 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 core ficting 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 this Security instrument. <br />17. Trander 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 Borrower is sold or transferred and Borrower is not a natural <br />person) without Lenders prior written 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 exercised 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 of acceleration. The notice shall provide a period <br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower must 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 any <br />remedies permitted by this Security Instrument without further notice or demand on Borrower. <br />IL Borrowers Right to Rehastste. if Borrower meets certain conditions. Borrower shall have the right to ha%e <br />enforcement of this Security Instrument discontinued at anytime prior to the earlier of: (a) S days (or such other period as <br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this <br />Security Instrument: or (b) entry of a judgment enforcing this Security instrument Thosc conditions arc that Florrowcr. <br />(a) pays Lender all sums which then would be due under this Security Instrument and the Note had no acceleration <br />occurred: (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this <br />ry <br />Security instrument, including, but not limited to, reasomable attorneys' fees. and (d) takes such action as Lender may <br />reasonably require to .ossurc that the hen of this Security Instrument. Lender'% rights in the Property and 11orn?wcr'% <br />obligaticm to pay the cum% %toured by this Security instrument shall continue unchanged Utxm reinstatement bN <br />Fkw"wct, this Sei tint 1 1rivrurnrnt and the ohlipapons %ecured hcreh) %hall rerrram N I I effect INr as it'ra accelcratum had <br />>Lturred Rov%c' -cf. this tight rr, reinstate %hall not apply m i h r case (it ac Meraiion under paragraph. 13 ,t 1 ? <br />R <br />