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85-- 002536
<br />1 If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument,
<br />1 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 />S. Inspection. 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 />4, Condemnation. The proceeds 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 tire 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 it 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 t he proceeds, at its option, either to restoration or repair of the Property or
<br />to the sums secured by this Security Instrument, whether or riot 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 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 successor in
<br />interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest.
<br />Lender shall not he required its commence proceedings against any successor in interest or refuse to extend time for
<br />payment or otherwise mortify 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 he 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 hind and benefit the successors and assigns of Lender and Borrower, suniect to the provision~
<br />of paragraph 17 Borrower'% covenants and agreements shall he joint and several. Any Borrower w ho co -signs this Security
<br />Instrument bill does not execute fire Note: (a) is co- signing this Security Instrument only to mortgage, grant and cun%cy
<br />that Borrower's interest art the Property under the terms of this Security Instrument. (hi is not personally obligated to pay
<br />the suers secured by this Security Instrument. and (e) agrees that Lender and any other Narrower play agree to extend.
<br />mcidify. forbear or make airy accommodations with regard to the terms alibis Secunry Instrument or the Note +%shout
<br />that flerrrower'stun%tnt.
<br />12. Loan Charges. if the loan secured by this Security Instrument is subject it) a law witch sets inaxurtuln Ilian
<br />charges, and that law is finally interpreted so that the interest or other luau :barges collected of t,, tit, collected in
<br />connection with the loan exceed the permitted limits, then: (a) any such Iran charge shall lie reduced h% the anlount
<br />necessary to reduce the charge to the pennined limit; and (h) any sums already collected from liorrnwer which exceeded
<br />permitted limits will be refunded to Borrower. lender may choose to Snake this rotund by rcducnig lire principal owed
<br />under the Note or by making a direct payment to Borrower If a refund reduce% principal, air ra•duction will he treated a% a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. 1,egislatirm Affecting iender's Rights. If enactment or expiration of applicable law% ha% the effect of
<br />rendering any provision elf the Note or this Security Instrument uncnfiliceahle according to Its term %, l ender, at 11% option,
<br />nlay' require imirlediate plLnlctlt nl full of all sums secured by this Security Instrument and Inay nnokc any remedies
<br />permitted by paragraph N If Lender exercises this option, Lender shall take the steps specified ill the usond paragraph of
<br />paragraph 17
<br />14. Notices. Any notice to Borrower provtdcd form this Securely inslnnnent Shall he gl%cn by dehvetnng It or by
<br />ttuilhng 11 by first class mail unless applicable law requires u%c of another method. The nonce shall hr directed to the
<br />Property Address or any other address Nwrower designates by notice to Lender. Any notice to Lender shall tie given by
<br />first class mail to 1. ender'% address stated herein ter any other address Lender designates by notice to Burrower. Any notice
<br />pR4titded lot in Ihis ScCurtly Iusirtinlem %hall be deemed Io ha%e been glyerl 14) 1101'101A :r or Lender when gi%crI ,1% petl%filed
<br />in iht %paragraph,
<br />15. Governing Law; Scverabllity. I Iii% Security Instrument shall he ginerned by ti•deral lank and Ilic Lass tit the
<br />jurt%drelion tit which the Property I% heated. In Ilse event that any pr0%l %f0n ur clause of tills Security Ir9%trinne't11 or the
<br />'Vote conflwis %Fell applicable law. such curd' let shall not affect other pra%ESlons of this Securll% lnslrurnetn or rile Note
<br />which can be p.t%en effect %ithout the contlwlmg provision. I lilt% end the provisuuts of this Security instrument aml the
<br />Vote are declared So Ix: sc%cr'ablc.
<br />16. BorrowerN Copy. Nolrowcf shall he given clot- %onharrned col,y its the Note and of This sccw11% In%tetnneol
<br />11. 1'ra#nfer of the. Property or a Ileneficial Interest in Borrower. If Al I't any part of the Pnflierty or an%
<br />f €rtere4l to if I%salld of Iranserrcd for lfa Ircrieficial interest Eu Narrower I%wld nr ITansfcired .End Nol rowel is not a n .1uoad
<br />laarsaml %ilhout Lender's prior written consent, l ender rtaay. of its option, require nnmechalr p.rynteni nn full of all sums
<br />s urecl by this Sccurify Irtstruincnt 114mc%er. Iii% opo"ll shall not lie cxelct%ced In I clitki 11 t %crcnst• 1%;,l.+lhlted 1,y
<br />ied"A la% a %tsl flit'dale /,f ittis accurit% lit %1runrent.
<br />If I- vadc.- c%cna%c% tins option, Lender %hall gl%e Burrower notice tit t,:"ICl,ltinu I Iw not, c shall t,E,r, Idr .i 1,011"I
<br />of'not Icss tb&fl �O day% from 111relaic the nolicc is dch%crrtl or nnailed %ilthul which Norrawrt nnlst pay ,ill i,%
<br />ihla °security Ittwumcitt. it li nrna %ct falls t i t pay these suns prior to the cxplrannn r 111111% period. I cnttel 111a% Mi, Oke .try
<br />rctriedies permitted by Inns Security Inslrunrcnl without further Elotice'u demand on Norlo%%cl
<br />18. Bearreiwer'% Right err Reinstate. If' It,trrower meets certain u- ,ndition" Nut €novel %11,111 h.1%c the ril•hl to ha,r
<br />en fUP4�rtaP,'tit iif Off %IWI;Uffly hist(tinretll ib%La In1tI41R °d al Bit% little prior to Itic cm licl I,t (a) �` dxys Iol it, It i`Ihct pCI t. 'it .1', -
<br />aftflittahic lj* nla.y %peLify for teltl %IdIl"mellf) N4-)r_ %.11v,if th4 I'I'ip :,.rl\ 1,111 %!1,4111 to.111% 1' 1,,I t ;tit' r'Ill,iln <'d tit On,
<br />V,o:vua4iy In %trumctit. fir fhjvnfry of a ludgl,mcilt ellfurc:tug tills sc,unl% lnsuuntrnl iIwNt . dowll,,ti, fhal Koloi%cl
<br />dal pays I antler Al %Mils which Owrl would lie duc nudrr this sccurll� 111s1runlcrir .1111 I! r tir,1,' 11.1,1 t , m'dclatlon
<br />ceurresi. 0,t,utcs atty defsulll ,it any other cuectrants in apteemenr% icl pals .ill eepulsas lrtru4led In tit "ar111k Otis
<br />'Kt ura,* tea €ruitEaant. I110udu4g, hill al,l lmualcd io, 1 ru,lrt t11j.N
<br />rcgmfc t,, a%%ur, tiuit Ibc hen ill" fills s,runly I list tunlctit. I rn,lcr'.. r,pins in 111 1';olalt% old Nrisi„,r1's '
<br />„hh �in,lY re, t< y i'llf.' eflllf4 `.CC Uteri lib IItIa ?t'4 rat fly InMt€!IilA7ti; .11.111 „milliill' 1111, br1110"I ( 1 -11 I_^ti,ta!I'lli. :ill 1`\
<br />Ilorf'rArr. !1110so' IlfilA illsfitlflwni and lilt: i!bl1(P,11114 n ". ei. °,lw d !),f, 1,l ll.li! rr itl.i4i link .1,, Ili1' 1 ,I,t.11 -'i 11.1,1
<br />�sttr,f If-Al -1 inn'• t?ttlti l "rein% Sara• half iu,l ,ipr'In n' thk , ,. ''.i i I,n „a•n nn.4,; 1•,n,ii,lnl,l
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