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<br />I <br /> <br />84 - 003223 <br /> <br />r <br /> <br />If Lender required mongage insuranc" as a condition of making the loan secured by thiS Security Instrument, <br />Borrower shall pay Ihe premiums required to maintain the insurance in effect until such time as the requirement for the <br />insurance tenninates in accordance wilh 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 al the time of or prior to an inspection specifying reasonablecatisefor the inspection. <br />9, Condemnation, The proceeds of any award or claim for damages, direct or con;;equenttal, in connection with <br />any condemnation or other taking of any part of the Propeny, or for conveyance in lieu of condemnation; are hereby <br />a,.signed and shall be paid 10 Lender, <br />In the event of a total taking of the Propeny, 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 otherv.'!se agree in writing, the sums secured by this Security Instrument shalIbereduced by <br />the amount of the proceeds multiplied by the following fraction: (a) the total amount of tbe sums sec~redimttlediately <br />before the taking, divided by (b) the fair market value of the Property immediately' before the taking. Any balance shall be <br />paid 10 Borrower. <br />Ifthe Propeny is abandoned by Borrower, or if, after notice by Lender 10 Borrower that the condemnor olfersto <br />make an award or seule a claim for damages, Borrower fails to respond to Lender within 30 days aner the date !he notice is <br />given, Lender" authorl7.<:d 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 SecUnlY Instrument, whether or not then due, <br />Unless Lender and Borrower otherwise agree in wriung. any applica1ion ofproceeds!o principal shall nqt exlend.ot <br />postpone the due date (lfthe monthly payments referred to In paragraphs I and 2 or change the amount ofsuch payments, <br />10, Borro..er Not Released: Forbearanee. By Lender Not a Waiver, Extension ohhe rimefo.t'paymcnt or <br />modification of amonizatlon of the sums secured by this Security Instrument granted by Lender to'anysucce$SOri,in~ <br />Interesl of Borrower shall not operate to rdease ,he liability of the original Borrower or Borrower'ssuccessors~inintereSr; <br />Lender shall not be required to commence proceedings against any successor in interest or refuse toextendtinie for <br />payment or other....ise modify amonIZ8tlOn of the sums secured by this Seeurity Instrument by reason of any demand made <br />by the original Borrower or Borrower's suecessors in mteres!. Any forbearance by Lender in exercising: any right or remedy' <br />shall not bea waiver of or preclude the exercise of any right or remedy, <br />11. Suc<:ess<>", and Assigns Bouod: Joint aod Several Uabillty; Co-signe"" The covenants and agreements of <br />this Secunty Instrument ,hali bmd and benefit the successors and asstgns of Lender and Borrower, subject to the provisions <br />of paragraph 17. Borrower', coyenant' and agreement' shall bi:Joint and several. Any Borrower who co-signs this Security <br />Instrument but does not execute the S " tal is co.signing this Securily Instrument only to mortgage, grant and convey <br />that Borrower's intetest 1U the Property under the terms of this Securily Instrument, (b) is nol personally obligated to pay <br />the sums &eCun:d by ltus Security Instrument: and- (c) agr~ that Lender and any other Borrower may .agree- to eXtend;. <br />modify, forbear <" make an\' accommodations WIth regard tn the terms of this Security Instrument 0" (he Note withpUt~ <br />that Borrower's. consent. <br />12. I..oanCbarll..., If the loan secured by th.. Security Instrument is subject to a law whicb setS maxlmumoloan <br />charge.s, and that law IS finally mterpreted so that the interest or other loan ,'hargescollected or to be. coJlecledin <br /><onnecllon with the loan excted the permIlled limIt., then: (.) any .uch loan charge shall be reduced by~lheamount <br />necessary to reduce the charge w the penmtted limit; and (hj any sum. already collected from Borrower whieh'e,,~ed <br />permitted hmits w,1I be refunded to Borrower. Lender may choo'" W make thiSlefund by reducing the principal owed <br />uoder the Note Or by makinl( a direct payment to Borrower. If a refund redu<:es principal, the reduction will be treated.. a <br />purttal prepayment WIthout any prera:yme'nt charge under the Note. <br />13, Legislatinn Affecting Lender'. Ripls, Jr enact men I or e,'p"ation of applicable laws has the effect of <br />rendering jny prOVISion of the: Note or this SecUflty hlsfrum~~H unenfon:ahle according to its lerms. Lender, at its option. <br />may require Immediate pay-mew in fuU- (If all sU.nl\ secured by lhi5 SQCunty Instrumetn ,and:. may invoke any _:rem~eS: <br />permllled by paragraph 14. I f Lender "erclses t.hIS option, l.emler shall take the steps speeified int.he second paragraph of <br />paragraph 17" <br />14, :"otiees, An\ notICe W Bnrro\Ooer PHwlded for In thIS Security lustrument shall be given by delivering it or by <br />ma.ling It by lit>t class mall unl.... applicable Jaw reqUtres use of aJl()t.her method,. The notice shall be directed to.th", <br />Propeny Address vr ony other addn:% Borrower designates by nOllee to l.ender.Any notice to Lender .hallbegivenby <br />fit>t clas.. mail to Lender'. addr"", stated herein ".. any other address Lender designates by notice 10 Borrower. Any notice <br />pn:,Wi.ded for in thiS Security ins.trument shall be deemed to have been given to Borrower or Lender when given as provided <br />in th.. paragraph. <br />15. ('rl)verning Law; Several;tlUt,.-. This. Security Instrument .,haU be govctned by federAl law and the law. vr the <br />JUflsdlCllon In whlC.h the PlOperty IS k'lCated. In Ihe eVell! that any provi$J()n or elau$< of this Security In$1rumenror the <br />Note conflicts wuh .applicable taw. such con diet shall not affect other provisions of this Security Instrument- or the .Note <br />which "an be gIven e!feel without the ConOI<Ctlllj!, proVl>lOn. To th.. end the pHWlSlons of this Security Instrument and the <br />Note are declared: to be se\'c:rable-~ <br />16. BorrQ'W>er's Copy, Bonower shaH !.)(, gl\'t~-n Qne tonf()rrned -copy of the r\Ole and of [his Securuy Imarument <br />17, Transfer of the !'roi><rl~' or a Benefidai lnter..t in B<>rrower. If all or .ny part of the Property or any <br />interest 10 it I~ soW (l( tr-an,Jerreri (or If.a bendicial lOle-rest in Borrower IS $oJd Of tnmsfern:d and Borrower is-not a natural <br />pCfWflJ wnhout LcrJder's pnor 'Antlen consent, LenJel fl1?l)'. ~t tiS (.)ptJ(ln, ft:quire imrtlt:dialt p;dym<:nl in full of all sunt.\ <br />~ured hy Ihi$ Sec:unt.y Insttum(:oL Howe,,'ef, tins opt-ion -shaH not be exer\.,tsed by Lender If exer,'i.~e is ,prohibited by <br />federal1aw as ofthe~.datc of this Security Instrum.cnL <br />If Lender cJ"ercises this option.. Lender s'haH gv.-e Borrower nouce of acceleration" The notice shall prtWlde l\ pernxJ <br />of nOt les.s. than 30 day\ from the date the of,tic-e is ddl\'t.red or maikd wlthin WhlCh Borrower mu:<ot pay aU sums :lie'l;ured by <br />thl~ Sccur.ity InMrumenl. If Borrower fails H) pay thcs<c -sums pr\or to the e"plution of {hi,> period, Lender may u1\.oke any <br />remcdi-o ~rmit1ed b" thl1l: S-ecuriry In'S,lfumenl with(Jut further tH)tlceor -demand on Borrower, <br />18.- Borrower.Ji Right to Reinstate. If Born)wer rn<<t$ .:ertain comJmon.s. ,Bo-n;:)\\'Cf shaU hal,,-e the fight ,to have <br />ep-f{}fCCment of thIS Se.;'-urlty In.;;uuU\t.n.t di~'pntHlUed a! any !!nl<' prior to the earlier -of: (ar 5 days (or 1:!-lJch <)ther p~:ri(ld as <br />~ppll\.:abk la:W l~ay )'.pe~:j.f;', ft;>r -fe'm:u~t.cmenO qefort ~k of lhe. Prope[(y pursuant to ,any p\iWCf or ')ak 'u.mtajned m thi!t <br />Sc::.urity Jnst.rumcnt, ur (b-J eHl()' i)f a Judgment <,uforcmg tfUS Sct:U.rliy, In~u\HJl(:nt Those condHwll'& afC- lhat BoU(IWer; <br />(11) P.Y\' .Leuder .'ilH sum!', ..'hlch then would he du~ undc.f this. Seetin!Y In..o;ttument ij;nd the Note had no a.c,.dertlhon <br />(Oi,;\:.i;.iHe~.t (0) ;:.\Jf~ .an;}.det'auit of ilH)' othc'.t (:(lvc:naIUS Of agrceITl.eUlS;'- pay~ ill, ~'\I')(';n:io(;"); mcuf!('d m enforcing t.his <br />Security .in).U'unl~f~[, in(,'Ju.Jing, bUi'.n.rH liJ1l~lW In, ;(',a;i,{)niiblc atwrne:y'" ;!fld td) t.;:tk(.,;:-. ':\Udl Jd):ou .l.~ Le-hdcr nut-j <br />r.u~>'fu\b-j)' r~'iUlft;. H'j j.~S-u.fe th-it the hcn of Ihl!'. Se..;urHY ju'\t(um~m,. L'C!HJtr';-., ng'ht"" HI ~b~:, Pn:.'<f\cn~' .anti fl.nrr(!~\.-;:l'\ <br />ohhptlOo pa> th€; ~lJln,s. ~t;l.,),Uf~ hY thi..."Secuniy Instrument ~,haU ("l.tHWWI.:.: 1l~~:choin,i;.(':~.L L-;:!-(.m t~'m~\~Hentcm <br />8i-:;ffl.;d" t'tC ~t-a,,= ln~lrU-I1tt:!.l!. i!-n.;j th(. t~btl.~.::!,H.1Hj ~,ei..;tJt'f..d 'hi1fi.:.by "hall f{orni;i;:r;: f;,~H~ df{Tti\;:; ..~, ~f nc <ii_'..~-d1C:t\i:(H.m <br />H.-r....'ct;,'cL jpp.i: iH.lh-'(:,'-.:.t~e...-";...f ,-.Hi'-l,., <br /> <br /> <br />L <br />