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<br />J.!. 86- 00521.9
<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 />lien. 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 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 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 />.hall 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 />ihis Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 1?. Borrower's covenants and agreements shall bejoint 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) is not personally obligated to pay
<br />the sums secured by this Secunty 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 />,hat Borrnwer'sconsent.
<br />12. Loan Charges. If the loan secured by this Securitv Instrument is subject to a law which sets maximum loan
<br />:narges.:tnd that law is finally, interpreted so that the interest or other loan charges collected or to be collected in
<br />:onnectio n 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 />nermitied limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed
<br />under the \etc ter by making a direct payment to Borrower. if a refund reduces principal, the reduction will be treated as a
<br />parria.i mcpat'ment 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 />rndering any . provision of the Noie :1r ,his Security Instrument unenforceable according to its terms, Lender, at its option,
<br />:Pat' require Immediate payment !n fuii of all Sums secured by this Security instrument and may invoke any remedies
<br />per mate" by paragraph 1 q If Under : xercises this option. Lender shall take the steps specified in the second paragraph of
<br />Paragraph 1"
<br />14. Notices. Ant noiice it, Borrower proodied for in this Secure: Instrument shall he given by delivering it or by
<br />^ar.n:a 1'• n! Z nits, ::nrilcabie lass requires use of ano ?he: :nethod. The notice shall be directed to the
<br />Pn:?per ^.', :i dress : t'any ,;tt;rr a:i rrss Borrower desrgnatcs by notice to Lender. Any notice to Lender shall be given by
<br />rirst : ;!ass :nail to Lender 's address stated ,nerein or any other address Lender designates by nonce to Borrower. Any notice
<br />rot lard I0 in this Securitv instrument ;hall he deenied zo ha%c been eiven to Borrower or Lender when given as provided
<br />n aragrlph
<br />15. Governing I.aw: Severability. This Securitl 'instrument ,hall hr Lo%erned by federal law and the law of the
<br />suns 1c rIn :n tttucn the Prcrtier!s .s ''..'cased. In : e csrri that any tiro r,n or :1ause of this Security Instrument or the
<br />\nit ; tatil t> wail appucabie aw. ,uc. ^.:<infllc: ~1111:: not :iffert ,xhcr prr,%1,w, s f this Security Instrument or the Note
<br />he :_I`.en etTect tvn}rau! the rtnfhctrng rr%nuton To this end the r:),:ision%,1f this Security Instrument and the
<br />111. Borrower -s Copy. Bnrriwer ,Bail h,, zlten :,tie cent •rme:! :rp: . t the Noic and of this Securirt Instrument.
<br />1 -_ Transfer of the Propert. err a Beneficial interest in Borrower. It- all :,r ant par of the Propert' or any
<br />_crest a ::.id '. r.:mrc r:d r if ;. hcneti:iai Interest ;it Bw r>wrr is ,old ,r transferred and Borrower :, not a natural
<br />n! 'srth,�ut I- :r,drr', prior Hrluen c:- m,ent, Lender mac, at it, .,pnon, rf,quire mifnedlatc payrnrnt m fuil of ail sums
<br /><. ,: .,, ... •fit:, rl .: r1l'• I't Si (i:m C'1! lioAe,'er, !his option shall !ioi he c- ter ;i,ed Lc"!.lcr it c \er:tse I, � !om!111ed hl,
<br />.hc•,late of ;his Secun[•: Inllrurnent
<br />1' i_�!:cer �xcr.aes th!s o7, lrum. Lender shall gr:e Borrower » ucceleralx,n !]"It: notice shall rrl %1dC :: Pend
<br />:a:s trim Inc .late the notice is deh%ercd .,r trailed tti!hin 's ri!L"' bori —Ae•r must pa'. Al! sums scc'ured by
<br />his Sccunt. In,ir�rneia (f Borrcnvcr tails II; pay these sums prior to the e�p)rarwn ntthis hrru,d. LCrk1Cr :nay in%11ke un;
<br />ten; ;fed h, ,his Seeunr, lworument ,without further noel elrr der ,111d m B1lrrruer
<br />113. Borrower's Right to Reinstate. If 13orrowcr inc•ets ccrtain rnd:u 'nisi Rurrnv cr ,iia;l ha the ri,:;1! to i1;J,,
<br />_...c.. Scwr.t. lnstrurnenr 1!sennunucd al ant ante pr, <u ;n ihr rarirr a! .` days!:- r,ucit , fir.' rrnrd
<br />a;, �_ .e s •r!a•. ,peal} 'I .rnisiate•inertI hcfore sale of the Property pkir,uant !o i;i% . ker of,alc _oritainrd in this
<br />�c' :r.r� .. ulnrnt ..i l`�� rnl• .i u,ivinenl enforcing this Security Imiroment those :ondm r,s .err :hat B,'.rm�e•r
<br />i:1. Pas, ! re ;'rler .ill sums winch ;tier, "could he due under thl, Securer'. L!,trurnent and ,nc Vote i,..,. 114• ::c:elcrazwn
<br />rIher - ::xrnanlS .iii � li?.•n,c, InCUrrril :n rnl �r�inC '...
<br />�r C:rli', iris : :Jmc'il(, 'uCllP�lI1 C. "UI 11111 h nricd h,, r. as. rttablr attorne`.,' tees. 'Ind ('ll rakes ,lKh i,:wn
<br />a„ure :net the lien of this Sccuril', Ite,trrrnc•nt, !.:•ndrr . .'ch•, :n ncc Pre ;vrt'. amt It''!!
<br />7, ;•a, ii•r• .inn nrr•:l h, !fin Secu'!ty ]nslrurncni .hall iunu-: un.haraed I ,,�,li - ..,n.a. :n, '..
<br />13nr "'x .'i ♦• .t iii ..iCC hi -Ind Inn i,il C ;!tl 'ri .t:C llrt'l; hco:h,, '.hail
<br />rc!r,'a:c ,hall 11 "t 11 Ihe.:asr
<br />t, is ,''N. •t r. w t .� t Borrower and Lendci further con enant ar.,i arrec is t •i'I„w •,
<br />19, Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration folloµuig Burnlµer',
<br />breach of any covenantor agreement in this Security Instrument (but not prior to acceleration under paragraphs 1.3 and I"
<br />unless applicable law provides otherwise). The notice shall specify: ta) the default, Ib) the action required to cure the
<br />default; )c) a date, not less than 313 diet's from the date the notice is given to Borrower, by which the dcfiurh most be cured:
<br />and !df that failure to cure the defaidt on nr before the date specified in the notice may result in acceleration Of 1114' sun's
<br />secured by this Security Instrument and sale of the Properly. The notice shall further infoim Borrower of the right In
<br />reinstate after acrelcratioti and the right to bring a court action to assert the non- eyistence of a default Or mi% othct
<br />defense of orrower to acceleration and sale. if the default is not cured on or hefore thu date speciled in the notice. I cridt i
<br />at its option may require immediate payment in full of all sums secured h. this Securio In:truncnt µ101,111l furth4•r
<br />demand and inav inv.,ke the power of sale and any other remedies permitted by applicable laµ. I end,'r shall be rntitl4-d 10
<br />cnilcct ail expenses - rcurred in pun,uing the remedies provided in this paragraph 111• 11101)(I'ng, but I,,)t Iinnte,3 r,,,
<br />reasonable attorncs,' ties and oms of title evidence.
<br />If th,• g „w - i 'J -..air i, mv,1ked, Irustee shall record a none.. .,! defa:ll! n lash ,1111 , 111 ,t hlrh w, "'It :,t H!,
<br />1 "roprrty Ioc ai,'l .IU:i ,yell nail ::,p1, s "f such n,1rcr 111 the maorwi prv•,rni,r d :n IppII: dill, l.— r,- liarl , anal . '1"
<br />•IIhrr p4 ;'r 'r, h: gg,Orahl, law liter the hnu r-,4.1 d !t, -11) pII • '.1 • .....,: •i'- III',. , :. .. ...i �•
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