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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 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 />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, director 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 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 it partial taking of the Property.
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall he 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 he
<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 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 1 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 10 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 />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 pre »isions
<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 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 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 Note without
<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 loan
<br />charges, and that law is finally interpreted so that the interest or other loan charges :.Alerted or to he 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 to reduce the charge to the permitted limit; and (h) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose ill 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. If enactment or expiration of applicable laws has The effect of
<br />rendering any provision of the Note 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 />14. Notices. Any notice to Borrower provided for in this Security Instrument shall he given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another method. I lie notice shall he directed to The
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br />first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice
<br />provided for in this Security instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing i.aw; Severability. This Secunty Instrument shall he go%erned by federal law and the law of the
<br />jurisdiction in which the Properly is located. In the event that any pro%tston or clause of Ihts Security Inslrt:nrenl or the
<br />Note conflicts with applicable law, such conflict shall not affect other pro%isuxis of this Secunty Instrument or the Note
<br />which can be given effect without the conflicting provision. ho this end the provisions ol'thts Security inslrunment and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy, Borrower shall be given one contornied copy of the ."Vole and of this Security Instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. 11' ail or any part of the Property or any
<br />Interest in it is sold or transferred (or ifa beneficial interest in Borrower is sold or transferred and Borrower Is not a natural
<br />person) without Lender's prior written consent, Lender may. al its option, requre nnntedl;oc payment In full oI ;III suits
<br />secured by this Security instrument. liowever, this option shall not he exetctsed by Lender It exercise is prohibited by
<br />federal law as of the date of tlns Security Instrument.
<br />If Lender exercises this option, Lender shall gi%c Borrower notice of acceleration. The notice shall pro%tdc ,t IM 10d
<br />of not less than 30 days from the date the notice is delivered or mauled %%iihin which Borrower muss pay all sums soured by
<br />this Security Instrument. If Borrower fails to pay these suns prior to the expiration of this penod. 1 ender may no oke any
<br />rernedies permitted by this Security Instrument without further notice or demand on Bot rote cr
<br />18, Borrower's Right to Reinstate. If' Borrower meek certain conditions, Horro%%er shall ha%r the n{Oht to hA%C
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier 111 hl) 5 days (or such oilier period ,I,
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to sly po%%ci of sale omi a wd In this
<br />Secunty Instrrtmcnl, or (h) entry of ii judgmcnl enforcing this tie, urny hi,tiununt I hose natdulon% ,or that I{or n,%%ct
<br />(a) pays Lender all suns whnvh then would he due under Ito% Serums} Instri m it and the Note had n„ .i— c1c,;on,n
<br />uu :erred• (hi cures .env dt•G.11111 of any 011M coven :1114 or ;Igrcemenls. (r) pays ,111 e,pense, Incurred m ertforcnt{; 11111
<br />Secunty Irr,trunlent, mcludnig, hill nil htnllcd In, rea,,ortahle alhnncys' fees, and id) lake, such n, son .I, 1 rndcr ntay
<br />rc'J"onnhly w(Ilnre t„ ,ls%urc that th(: hen of this Secunty Inslrunn•nl. I rndcr•, right, In III,- prolav1% .Ind Ilorlowcr',
<br />-hilga!l,m (o pay till sums scuocd by 11)14 Serum% Insunmcnt ,hall ,norms un,hant '-ed I j-1, Ir1u 1.n,ntrnl I„
<br />I {•.rr,.+.,1 1;;,\ bntlmncnidn,Ilhcnl?I11;dtinrt„ ur, dhcrrb%, he lln rt). ul, till!% ,Ilr,Inr.r.l!n•,I,.rirtdn,uh.ld
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