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<br />84 - 006791
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<br />If Lender required mortaqe insurance as a condition of making tho loan. secured by this, Security iBstrument,
<br />Borrower shall pay the premiums reqWedto maintain the iosuraIICC in dftIc;LWltil such. time IS the requirement fOl' the
<br />iM\U'llncC terminates in accordance with Bot.OWCI'S anclLendcr'& written agreement 01' applioable law.
<br />S. lupecticm. Lender or its asen,t may make reuonabk entries upon and inspections of tilt: Propeny. Lender
<br />shall Jive Borrowcr notice at the time of or prior to an inspection specifying reasonable cause for the insJX:Ction.
<br />9. COlld..llltHm. The proceeds of any award or claim for damages, direct or consequential, in connection with
<br />any condmmation or other taking of any part of the Property, or for conveyance in Jieu at: condemnatiou, are hereby
<br />assiped 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. divided by (b) the fair market value of the Property immediately before the taking: Any balance shall be
<br />paid to Borrower.
<br />If tbe 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 i15 option, either to restoration 01' repair of the Properly or
<br />to the sums secured by this Security Instrument, whether or nOl 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 Rea-d; Forbeanuaee By Lender Not a WalTer. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Securit~ Instrument granted by Lender to any successor in
<br />iaterest 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 />p;ment 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 ill exercising any right or remedy
<br />. __II not bUWlliv.er3){!lf precJOOcJ.be.eJ\!:rc.i~ Wl!!lY .ri,bf PU~Y:_ ,. ...._.._._ _ .. u _ _ . "._ _'. m. __.__..__ __
<br />U. SM<lIun _ AIIips Bouad; Jeiat _ SeYeral Ualritity; Co-sipen. The covenants and agreements of
<br />this Security Instrument shall bind aDd benefit the successors aDd assigns of Lender and Borrower. subject to the provisions
<br />of paraaraph 17, Borrower's covenants and all'eements shall be joint and several, Any Borrower who co-signs this Security
<br />hmmmmt btit does not execute the Note: (a) is co-signing this Security Instrumenl only to mOrlgage. grant and convey
<br />that Borrower's interest in the Property under Ihe tel1l15 of this Security lnstrume!ll; (blls nOl pernmally obligated to pay
<br />tlw sums seclffild by this Security Instrument; and (c) agrees Ihat Lender and any other Borrower may agree Ie extend,
<br />~y. fon-r or make any accommodations with regard to the terms of this Secunly Instrumenl or Ihe Note without
<br />tlml Borrower's COIllilellt.
<br />U. LNa ~ If the loan secured by this Security Instrument IS subject to II law whICh selS muimum loan
<br />and lhat 14w.' is finally interpreted so that the interest Ilr other loan char~Cl. wllccted or 10 be L'ollecled in
<br />with the loan exceed the permitted limits, then: (a) any such loan charge ,hall he reduced by Ihe amount
<br />na_ry to mmce the CMeIt to the permitted limit; and (b) any sums already collecled from Borrov.'e1' which exceeded
<br />pa-mmed limits '1\1111 he refunded to Borrower. Lender may choose 10 make thIS refund by reduclnlltlM: principal owed
<br />~ the Note or by makinlla direct payment 10 Borrower. If a refund reduces priOCtpal. the reduclion will be trealed as I
<br />panlal prq>>ymenl ",thout llIlY prepllyment charge under the Note.
<br />13. I IIhl.l.l..... A~ 1..emIer's Rights. If enactment or e"'plralIon of Ilpphcablt- laws has the effect of
<br />~ lIJIiI)' pl'O\~ of the Note or this Security Instrument unenforceable according 10 m terms. I.ender, /lIlts option,
<br />-, !~ ~llle pllyment In full of III sums secured by Ihis Secunty Instrumenl and may ill",lke any remedies
<br />pmmued l:I)' pll~ 19, If Lender exercises this option, Lender shall take rhe steps ~peelned in I he -.econd pllrlltJ;raph of
<br />~17,
<br />14. ~ Any ooIice 10 Borrower provided for in Ihis Secunty Inslrument shall he ~I~en lIy deh~ermg II or hy
<br />--. Ie by n~ clllM miUl ulIl_ llpplicable law requires use of another melhod, The notl\.'e ,hall he dlrecled 10 ,lie
<br />Propwty AlWfi!M or lIny otlier ~_ Borrower designates by nOlice 10 tender. Any notice 10 [,mder wll he Illl~'en by
<br />W dlmilI-.llo 1A::ftder's address slaled herein or any other address Lender dClOij!.natCl. by flOli..-e 10 8nrTOwer, Any ooIlCe
<br />~ fOl' m too Securily InstrulRCnt shall be deemed 10 have been given to Ilormwcr or Lender when glVCl\ liS pmvided
<br />ml!M~,
<br />II. c.__ Law; Se~ty. This Security Instrumenl shall he !lo~emed ily federllllaw lInd the illW of the
<br />Jlm~ m IIIlimh the Propeny IS Io..;llted, Illlhe event tlutt any proviSIon or chllll>C of Ihl, Secumy Instrument ur the
<br />Note ..~11l With app4lClWk IlIw. sl,ICh conllict sbAlI /lot alfect ulher pT\wislOOlt of IhlS Secllnty Instrument or the NOh'
<br />~ clIJIiIllIII il\'<ffi ekl, without the confticlllla provilllon. Tn thiS end 11M: proVISions of IhlS Se..:urity IllstrUmetlllllld the
<br />Note au _wed to llIII !lCVerllblc~,
<br />'6. ~'sC~. Borrower shall be given one cotlform~..d copy oflhe No:e and oflh" Se..:UrB!y hNrumenr
<br />11. TI'HlIfer of die Property or 1II IkMIcW loterm in Borrmter. If all or any parl of Ihe Properly or lllly
<br />ImC:ni!II' IiII it iSWWOf tr-rc:rrl1t! (or ,fa OOn<::6killllllter€illl In BOTrnwer 1~ liuld or I Tlll1sferrcd Ilfld Borrower IS 1101 II I1lUU1IIl
<br />perw.ft) wttl>>ut l.C'nder's pl1Qf wnlloo ,'OOlIIIl1t, Lender mllY, III tiS "puon, requm: Immedillle l'IIymentln full of 1I11 'um,
<br />..~ by lhii ~Uf'lty IMCrul_t. HowevC!", tllIli (>plloll ~hllllllOI he exelc,~d hy Lender If ,:~en'll>C I, rmlllbtl,~ hy
<br />~ law llIIl 01 11M diMe ofllm ~llnly. Imtrwn<::nt.
<br />If Umder eMfC_tmli OptMnl. ~r slutll Jive !ioTrowt:r notll:e of 1I"cc!erllIlOI1. Tile llo'Ke ,hilI! pl'll~jde n pelUlU
<br />offWt _thaa ,lOdlIYll from 11M dale the ootic~ i, delivered or mailed w1IIIm winch norrowel' mUSEI'll)' 1\11 ,ulm 'cL'ured hy
<br />th~ SeclH'ity h~lf__nt. If Dorl'ower fm 10 pi!lY lMSC ~umli prior to th,' e,~"trllhol1 "r Ih" pt"riod, Lender 1lI1l) 1I1,,,ke ~HlY
<br />~p"m4ttlld ""11m Secll,'il.\' JnMl'UffIIIfIl WllhoiAl furtoor 110!!Ce Of demllnd on Borrowel'
<br />... ........,.s .. Ie ~, a Borrower 1l1ft!lli ,'crllllll wndtll'lflll, I~lfwwel ,111111 hll~c the rB!llll III hne
<br />MI'~ ,lfthill ~Ufil)'ll'llillrll_1 dl'!4:mllmued 1I111n)' HlTle pH"" 10 Ihe cnlltC'i "I' ell) ~ tllIYS (,1I ,"dl olh;, permd II'
<br />~w IMY for rClfllilatclMIlI) heflin' 'ilI.le of 11M: PmllCrly ru nUll fl I to 1111) 1"'\\'1.'1..1,11": ,,,nlllmed 1t1lht,
<br />IMCr~, Of mlr~ 01' a Judt,fIWlllmn/()!,'ml!: 111111 ~'Ilflly Instrumellt Thosc rontllllOf" 011" Ihal Hnlrt\W,'r:
<br />Lt'ndef <ill ~I.I_ ....~h IMn would he d~ und~F th,,, Se..:unl~ In,rIUme"1 <tnd rhe N(l"~ IH.d II" 1,"'I:deIMHml
<br />(1:., ,.lKlllI lIJIiI) d<lflllUl of lOll)' "loor r"~"'tllil'lls '.11' (0 rmy' IliI nl'<""'" lIICllllnl1l1 ,'Ilhu(lnjel 11m
<br />I~r~",m, but nul Itfnrl~1 10, ~Q1(1rnI:V" f~; ~l1d (d) t~kt'" 'Ih;11 '~\'II.\ll II'; Len,!el fllllY
<br />r~rl! 10 .~urt 100 h<llfi of ttm ~\Inty Ilh~IIU_I1I'. l....flilct', 11"hh 1ft Ihe l"ol'."'ly '1nJ Hnt'fl\"'I'r'~
<br />h, 100 'urn!!; ~nifN I'!) Ihlli Se..:1l111). fnMn.lITll:f11 ,hall ""lIlmu<' Illl,luw!ll"<1 UpOIl r,'I"'1,1Icmellt ,'\
<br />In", IlI"uum~nl ~1l<J I~ ,.tbl1IatK.lfl!!; !\lOCUfW I1clehy ,hllllremllm hilly dlt'''I''' ~, 11110 ~l,,'llI III It :11 hlld
<br />'''t'UI~i H""'''',,''I, nllhl to ''''Ifl!>!IIM: ,,!I.Unol tI~l) In 111" ,'ll..,..j lM:rdCIIlII"" 10m!". 1'''"~j!I;'lIr,h, J I p, I.'
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