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<br />If Lender required mortgage insurance as a condition of making the loan secured by this Security instrument.
<br />Borrower shall pay tine premiums required to maintain the insurance in effect until such time as tine requirement for the
<br />insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law
<br />8. 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 />9. 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 evcut of a total taking of the Property, the proceeds shall be applied to the sums secured by dots 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 he reduced hs
<br />the amount of the proceeds multiplied by the following fraction: (a) tine total amount of the suns secured ininiedlatciy
<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 se=ttle a claim for damages. Borrower fails to respond to Lender within 10 days after the date the notice is
<br />given, Lender is authorized tocollect and apply the proceeds, w 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 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 tin
<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 &orrow•er or Borrower's successors in interest. Any forbear rice 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 if
<br />this Securitv Instrument shall bind and benefit the successors and assigns of Lender and Borrower. subject it) the prokislons
<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 convex
<br />that Borrower's interest in tine Property under the terms of this Security Instrument: (b) Is not personally obligated to pay
<br />the sums secured by this Security lnstrumenr, and Ic) agrees that Lender and any other Horrower may agree to extend.
<br />modify, forbear or make any accommodations with regard to the terms of tills Secure\ Instrument or the Nole wnhout
<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 loam
<br />charges, and that law is finally interpreted so that the interest or other loan char-,es collected or to lie collected m
<br />connection with the loan exceed the permitted limits, then: (a) any such loam charge shall he rrduccd by the tntunutt
<br />necessary to reduce the charge to the permitted limit: and (b) any slim, already collected from Bornmer w high exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose ;o 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 he treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislation Affecting Lender's Rights. 11' enactment or expiration of applicable laws 11;1, the effect at'
<br />rendering any provision of the Note or this Security Instrument unenforceable according io Its terms. Lender, at u% option.
<br />may require immediate payment in full of all sums secured by this Security instrument ;md may insoke any remedies
<br />permitted by paragraph 19. If Lender exercises this option. Lender shall take the steps specified tin the second paragraph of
<br />paragraph 17,
<br />14. *Notices. Any notice to Borrower provided for lit this Security Instrument shall he given by dcli%cring It or by
<br />mailing it by first class mail unless applicable law requires use of another method. Tice notice shall he directed to the
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall he given by
<br />first class mail to Lender's address stated herein or any other address Lender design ;ties by notice to Borrower Any notice
<br />provided for in this Security Instrument shall lie deemed to have been given to Borrower or Lender when given as provtdcd
<br />in this paragraph.
<br />15. Governing law; Severability. This Security instrument shall he gmertted by federal la%% and the la%% of file
<br />jurisdiction in which the Property is located. In the went that any proomon or clause of this Security Insfrunicnf or the
<br />Note conflicts with apphcablc law, such conflict shall not affect other provisions of Oils Security luslrunicnt or the Note
<br />which can be given effect without the conflicting provision. fo this end the provisions of 1111, Security Instrument and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall he given one confornied copy of the Not and of this Sean I y Imrtunncnt
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. II' all or any part of the Properly or all,
<br />intettwr in it is sold or transferred (or if a heneficial interest in Horrower is sold or transferred and Borrower is not a natural
<br />person) without Lender's prior written consent. Lender may, at its option, require Immedtale payment nl full of all sums
<br />secured by this Security Instrument. Llowever, this option shall not he exelcsed by Lender ii exercise is Irtohihited by
<br />federal law asofthedateofthisSecurity Instrument.
<br />if Lender exercises this option, Lender shall give Borrower nor;cc of accclerition. 'I lie notice %hall pro% Ile .I period
<br />of not less than 30days froth the date the notice is delivered or mailed within which Borrower must pay all sums secured hi
<br />this Security Instrument. if Burrower fails to pay these sums prior to the exptrnton of this period. Lendel may invoke any
<br />remedies permitted by this Security Instrument without further noticc or demand on Borrower.
<br />18. Borrower's Right to Reinstate. if Borrower meets certain condnlons. Borrower shall have the right to h;oc
<br />enforcement of this Security instrument discontinued at any erne prior to file earlier 411' (A a da-\% (or such other period ;Is
<br />applicable taw nn1Y speedy for reinstatement) befllre sale of tlic Propci1% I`III,II;1111 to ally potter of ,;lc r0111aliled ill fill,
<br />L Security Instrument; or (h) entry of a judgement enforcing this Securitv jnstrn iciii 1 hosc conditions ,ore that Horrower
<br />(a) pays Lender all sums %Melt linen would be (file under Iii, Security Instrument and the `(lne end no accclet .1tion
<br />occurred: th) cures any defauh of ally other covenants or agreement,: (c) pays all c,petl,e, Incurred In rnlolcing lim
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<br />Segura-, Instrument. including. but not limited lo, reasonable attorney,' ices. Mid Id) take, such arsons 1,011iCr 111.1\
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<br />reasonably require to assure that the Item of this Sccunty Instrument. Lender•, rtghs of Ille Ploperl\ •Intl
<br />"lillgattnn to pap the suns secured by this Security limninietil shall c'numuc unrh ;mpcd l port rcnl,l :uememt t,v
<br />Horrower. 011,secunty In,tlurnent and I lit, oI oil gat lotr.,cc;ucd helrhv .11.111 :,•multi lull\ rftrtut•. ,I, it n, ,Ir.clet ;lUnn bud
<br />ncurnd II,, w,•. rI. OW. rtfrht It, rt •nstalr,ll;ill lit l'tphlsnithe ,nr,dm,' ITt!'-r ;11ui,r; "11';,•,,11'1` ;1,•i f'
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