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<br />85-001-944
<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 Borrower's and Lender's written agreement or applicable law.
<br />g. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property Lender
<br />shall gi,e Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. aim for damages, direct or consequential, in connection with
<br />9. Condemnation. The proceeds of any award or claim
<br />any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are here.%
<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, do ided 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 Secunty Instrument, whether or not then duc.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend nr
<br />postpone the due date of the monthly payments referred to in paragraphs I 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 success. m
<br />interest of Borrower shall not operate to release the liability of the ongunal Borrower or Borrower's successors lit interest
<br />Lender shall not be required to commence proceedings against any successor in interest or refuse to extend lime for
<br />payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made
<br />by the ongmal 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 shall bind and benefit the successors and assigns of Lender and Borrower, subject to the pro%Islon%
<br />of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co -signs this Securer%
<br />Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage, grant and cony"
<br />that Borrower's interest in the Property under the terms of this Security Instrument: (b) is not personally obligated to pa)
<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 ;Vote without
<br />that Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Security Instrument Is subject to a law w hlch 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 he reduced by the amount
<br />necessary w reduce the charge to the permitted limit; and (b) any sums already collected from Borrower w inch exceeded
<br />Permitted limns 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 cd
<br />rendering any provision of the Note or this Security Instrument unenforceable according tons terms, Lender• at its option•
<br />may require Immediate payment In full of all sums secured by this Security Instrument and Iriav In%oke ally rernednes
<br />permitted by paragraph 19 If Lender exercises this option, Lender shall take the steps specified ill fie second paragraph of
<br />paragraph 1'
<br />14. Notices. Any notice to Borrower provided for u1 this Security Instrumeni shall be given by deti%ermg It or h%
<br />mailing it by first class mail unless applicable law requires use of another method. The nonce shall be directed to the
<br />Property Address or any other address Borrower designates by notice to Lender Any nonce to Lender shall he gt%en by
<br />first class mail to Lender's address stated herein or any other address Lender designates by noricc' to Horrower. Any nonce
<br />provided for in this Security Instrument shall be deemed to have been glsen to Horrower or lender w hen given as prat idcxl
<br />in this paragraph
<br />IS, Governing Law; Severability. rhis Security instrunlenf shall he go%crned by federal law and Ilie IJw of the
<br />junsdiurun In which the Property is located In the c %ent that any provision or clause of this Sccunty Instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect other provlsun s of this Severity Instrument , r the Notc
<br />which ion he green effect without the eontlicung provision To this end the pro%isioii, of tilt, ty In,trunlcnl and ill,-
<br />Noic are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be green one cvnh!rnncd ,opy of the Note and , I ihr, "cuu 11 Iit,[ I t1niCnl
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. if all ,u an% pen r•I 'lie Prolx•n% w .ui.,
<br />interest iu it is sold or transferred (or if a beneficial interest it Born.ucl 1, ,.,id .,I trinslerre,1 and li„rro%cr 11 n.,1 .i n.iluial
<br />person) without Lender's prior wrmcni consent. Lender may, it its upn,ai. require nninc•diatc paynnent Ili full .'t ,111 sun1,
<br />secured by this Security Instrument However. this option shall no( he c•xercned hN I Crider it exercise is hr.,hlhucd h%
<br />federal law as of the date of this Security Instrument
<br />If Lender exercises this option, lender shall give Borrower n „nvc of .1_vleratloli I he nowt %hall pm%ide.1
<br />of not less than 30 days from the date the rlolleC is delivered or mailed wnthln %111 11 BUI rower 111u,I pay all soon ,c, u1c,1 hx
<br />this Security Instrument If Borrower fails io pay these sunis prior Io the cxpoaiton of tills pc n,xl. Lender mart :n%,,f,c•
<br />remedles permitted by this Securely Instrument with,_,ut further nonce or demand, i B, rrowcr
<br />IS. Borrower's Right to Reinstate. If Borrower nierls,ert,un nn )all its. Horrower sh ;ill hate the 1iy,hl
<br />enforcement of Ihis Security Instrument dnsconlu(ued at any (11,;c prior io the earlier of la) s day, for such Daher l,rn „d ,r.
<br />apiihtabl1 law relay specify for reunr,ucn(:nt) beliore salt of the Prnper(y pursuant l„ .u.y I,,.wc•r „f sale „ nl.uncd 1n'h,s
<br />5e.ur,ly Instrument, or fbi cnlry of a judgment enfor,ing (hit securely Insuuurcn( 1 h',sc
<br />taI pa;., 1 r, elder all sums winch then w,luld t%e due under ihn Srwnly lnslrun,rl.t N,1e had U„ ,I,. rlrl .n ;
<br />r or cd. (11 Duns all dcfaull ,f any other %uvcnants .0 , Ice nc and the
<br />n ,
<br />Sr- a 1 Insiru u.nt, u,cludulg,
<br />but nut hnuted lit, rrasonahu .ti' rnx,s 4r�,ituid�i.f1%lni,e,.
<br />na. i.
<br />• y r.rr l,. rssure Ihat the 11rn of this Se•c only Ir,l n, n,cnt
<br />'Il ,urns 'exiled by Ihis 5eo_ulil%
<br />k, rr sir tic.unly 111Wwncnt and the A,Iigallons scxul
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