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<br />84 - 003276
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<br />If Lender required mortgage insurance as a eondition of making the loan secared by this Seeuritylnstrument,
<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 orprior to an inspection specifyingreasonabIecausefor the inspection,
<br />9. Condemnation, The proceeds of any award or claim for damages, direct on:onseljtiential; inconnectiollwith
<br />any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation,arehereby
<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 takillgoftheProperty,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by Ihis 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 the Property is abandoned by Borrower, or .1', aher notice by Lender to Borrower that the condemnor oners 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!s
<br />given, Lender is authorized to collect and apply the proceeds, at its option, either 10 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 Inslrument granted by Lender to any successor in
<br />interesl of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interesL
<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 succes~ors in intert$L Any forbearance by Lender in exercising any right or remedy
<br />shall not be a waiver of or preclude the exr"cise of any right or remedy,
<br />11. Successors and Assigns Bot, "Ioint and Severa! Liability; Co-signers. The covenants and agreements of
<br />.his Security Instrument shall bind and bentnt 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 \"'0 Note: (a) is co-signing this Security Inslrument only to mortgage, grant and convey
<br />that Borrower's interest in the Property under the .erms of this Security Instrument; (b) is not personally obligated to pay
<br />the sums secured by this Security Instrument; and (e) agrees that Lender and any other Borrower may agree 10 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 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 permllted limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to BorroweL Lender may choose to make this refund by reducing the principal owed
<br />under the Note or by making a direct payment to BorroweL If a refund reduces principal. the reduction will be trealed as a
<br />partial prepayment wilhoUl any prepayment charge under the Note.
<br />13, Legislation Affecting Lender's Rights, If enactment or expiral.ion of applicable laws has the effect of
<br />rendering any provision ofrhe Note or this Security Instrument u!1enf0rceabl~ according In its term:,>, Lender, at its option,
<br />may require immediate payment in full of all sums secured by lhi.s Security Instrument and may lnvoke any re:rn.edies
<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 be given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another method, The notice .hall be 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 slated 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 Law; Severability, This Security Instrument shaH be governed by federal law and the law of the
<br />juri!idiction 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 affect other proviSIOns of this Security Instrument or the Note
<br />which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the
<br />Note are declared to be severable,
<br />16. Borrower's Copy. Borrower shaH be given one conformed copy (if lhe Note and of this Security Instrument.
<br />17, TM!nsfer Qf the Pr"p"rty '" 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 beneficiallIlterest 1n Borrower is sold or transferred and Borrower is not a natural
<br />perwn) without Lcndct'~ prior written consem. 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 i~ prohibited by
<br />federal iawas oftne date of t.his Securi,,' Instrument-
<br />If Lender exerci~ this option; Lender shall give Borrower notic,e of acceleration. The notlce shall pro\'1de a penod
<br />of not 1e!lS than 30 days from the date th(' notice is delivered or mailed withm whk.h Born)w~r must pay all sums secured by
<br />this Security Ins.trumenl. If Borrower fads to pay these s.ums prior to the expiration of this period. Lender maj invoke any
<br />rem~ies permitted by this Security lu.'\trumenl withoul further notice or demand on Borrowt::f.
<br />18~ Botrower's, Ript to Reinstate. If Borrower meets certain condiuons. Borrower $haB have the nght In have
<br />enforcement of thiS Secunt)' lnsuument -discontinUed at any l1me prior to lhe earlier of; (aj 5 days !.or such other period as
<br />ap~k;u,ble law may s'pe-.;iff for reinstatement) before sale of the Property pursuan, to any po,wer of s.alc ci)utaincd in thi!.
<br />Sc;:ut~{y In~lrument\ or (b). eutry 01'.11 judgment enfon.~mg thri) Se-..:urity Instl'umenL Tho~c condition:;. are that BOrn)-,.;eL
<br />(a) payi Lender aU sums whjt;.~h then. -would be due under this SecU1'lt\' Ins.trument and the Note h-<.td nt) ac,"'.der.ahon
<br />occu,!ed; (bi CUrt'\ any d-e-fuult i)f any other C{l-\-'enaIlt~ or agre-tments~ ~ kJ pays <111 e:.\pcnM..1' HH.:urred J1l enfon':ll1L( rhi!i.
<br />S~ur1t)-" ln~trlJment. !nduding~ but not l.imitcd to, H:.usonabie aH0rney~' fee~; and (d) tni-.e~ ~llch i:i,('-{J(IJl ",1.'; LeTitia may
<br />r~I'U\bly requ_~rc H) a.c\,~u_rc that (he iJ~'fl \',f Jhi) Secunty InMrumC'-o(, L("ri(kr\- ngfH~ Hl lho: PrOpt':rt~ and Bonov..cr\
<br />Obi,ptKlA W ~y t-ht \\;flflS. \.e,,--u(('d by thl~ Secunty In...trumcUl !\hall COflunu-c unchanged LpOH remstah;f1Icnt b)i
<br />l3onower. th_!\:, Se\::U1')i): In''Uurnc.iH j,ind the obhgaw~n" -~ec-urcd :j>.h;o)_U HTn"w~ hd!y <;'flecn;/t;" J,~ If no ,1;(",'def"iliiPH haw
<br />{'>i,;ic~ttC'4, HtJI~>~'j,e-L ttn-'\. dgbl W fei.n~talT ...ha.H n(lt app.l.y in th-:; i.:i:iT.< unl,kt r;,,1r'l~.-r.i:lph.... II r'j;- ;.,
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