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<br />84 - 002878
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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 lime 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 inspeclions 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 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 shaII 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 the proceeds, at its option, either to restoration or repair of the Property or
<br />to tl,o ,ams 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 />pc, 'pone 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 />shall not be a waiver of or preclude the exercise of any right or remedy.
<br />II. 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. subjecl to the provisions
<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 Secunty Instrument; and (cJ 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 Ihe 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 interesl or other loan charges collected or to be collected in
<br />connection 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 />permitted limits will be refunded to Borrower, Lender may choose to 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 be treated as a
<br />partial prepayment \\;thout 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 oflhe 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 Inslrument shall be given by delivering il or by
<br />mailing it by first class mail unless applicable law requires use of another method, The notice shall be directed to tbe
<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 />IS, Governing Law; Severability, This Security Instrument shall be governed by federal law and Ihe law of the
<br />jurisdiction in which the Property is located, In the event that any provision or clause of this Security Instrument or the
<br />Note conflicts with applicable law, such conflict shall not a1fect other provisions of this Security Instrument or the Note
<br />which Can be given effect without the conflicling provision. To this end the provisions of this Security Inslrument and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy, Borrower shall be given one conformed copy of the N0te and of this Security Instrument.
<br />17, Transfer of the Property or a Beneficial Interest in Borrower, If all or any part of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />person) without Lender's prior wriUen consent, Lender may, at its option, require immediate payment in full of all sums
<br />secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />of not iess than 30 days from the date the notice is deiivcred Of mailed within which Borrower must pay aU sums secured by
<br />this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period. Lender may invoke any
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower.
<br />18, Borrower's Right to Reinstate, If Borrower meets certain conditions, Borrower shall have the righl to have
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as
<br />applicable law mal' specify for remstatement) before sale of the Properly pursuant to any power of sale contained in this
<br />Security Instrument; or (b) entry of a judgment enforcing this Security Instrumc.::nt. Those conditIuns arc.:: that Borrower:
<br />(a) pays Lender all sums which then would be due under this Security Instrument and the Note had no acceleration
<br />occurred; (b) cures any default of any other covenants or agreements: (c) pays all expense~ Incurred in enforcing this
<br />Security Instrument. including, but not limited to. reasonable attorneys' fees; and (d) take~ ~uch action as Lender ma)
<br />reasonably require to assure that the lien of this Security InstrumeJlt. Lender's nghb 1Il tht: ProperlY and Borro\\:cr's
<br />obligation to pay the sums secured by this Seeunt)' Instrument ...hall cOI1Hnue un..:.:hallgt:'d. Upon relnstalc:menl b)
<br />Borrower, thi!> Secuflt) Instrument and the obligations ..:;ccured hereby ~hall remalO f u1ly dfeC!l\e a... If IlU ac..:ekratlon had
<br />occurred 1-I00\'(:\'cr, li115, right to reinstate I,hall not appl~ lilthe L'a~t' o(ac\.:derauoll lJllJt.'r paragraph... l.~ (If 1":'
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