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<br />004556
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<br />If Lender required mortgage insurance as a condition of making Ihe loan secured by this Security Instrument,
<br />Borrower ~hall 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 ils 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, 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 shaUbe 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 shaUbe
<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 respon'd 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 t he monthly payments referred to in paragraphs I and 2 or change the amount of such payments,
<br />10, Borrower ;\lot Released; Forbearance By under Not a Wah'er, Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted hy Lender -to any successorjti
<br />interest of Borrower "hall not operate to release the liability of the original Bor!'" '.ver or Borrower's successors in-interest
<br />Lender shaH not be required to commence proceedings against any <.;1..'(...e5SC' ."} interest or refuse to extend time for
<br />payment or otherwise modify amortization of the S,;.&ffiS secured by thj~ ~ -, .Tity .;.i1strument by reason. of any demand made
<br />by the originai Burrowt:r \.)f Borrower's, S.UCCe55G15 in. interest. Any forbearance by Lender in exerci_~ing any right or remedy
<br />shall not be :l waiver of or preclude t he exercise of any right or remedy,
<br />11. Successors and Assigns Bound; Joint and Several Uability; Co-si~ners. The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants aud 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 III the Property under the terms of this Security Instrument; (b) is not personally obligated 10 pay
<br />the sums secured by this Security Instrument; and (c-) agrees that Lender and any other Borrower may e.gree to ex.tend.
<br />modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note \vithout
<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 tinally interpreted so that the interest or other loan charges collected or to be collected in
<br />connection with the loan exceed the permttted limits, then: (a) any such loan charge shall be reduced by the amount
<br />Ile\;essary to redu\:t the charge to the permitted limit; and (b) any ,sums already collected from Borrower which exceeded
<br />permitted !inllts will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed
<br />under the Note or by makmg a direct payment to Borrower. If a refund reduces principal, the reduction will be treated-as a
<br />partial prepayment without any prepaymem 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 prll\'isiun of the NOh: or thi~ Secunty Instrument unenforceable according to its terms. Lender. at its option.
<br />may require immediate paymem in full of ail sums secured by this Sel~urity Instrument and may invoke any remedies
<br />permitted by paragraph I Q. If Lender exercises thiS option, Lender shall take the steps specified ill the second paragraph of
<br />paragraph 17,
<br />14. Notices. Any notice 10 BOrrl)\\l.."f provided for in this Security Instrument shall be given by delivering it or by
<br />mailing it b~ first class Illall unless applicable law requires use of another method, The notice shall be directed to the
<br />Property Addres., or any other address Uorrower de.signates by notice to Lender. Any notice to Lender shall be given by
<br />first class mail to Lemler's addr~ss Slated herein or any other address Lender designates by notice to Borrower. Any notice
<br />provided for in thiS Security Instrument shall bt: deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Go\'erning LaWj ~ve.rabilit)-', This Security Instrument shall be govemed by fed~raj law and the law of the
<br />jurisdil.":{lon in which the Property is located. In the ev~1ll that allY provision or dause of this Security Instrument or the
<br />Notel:OntllclS with applicable law. such conflict shall not afre~;t other provisions of rhis Security Instrument or the Note
<br />which I.:an he given effect \\..ithout the conflicting provision. To this end the pnwlsions of this Senlrily Instrument and the
<br />Note are declared to be sc\ crable,
<br />16. Borrower's Copy. HOITO\\a ~haU be given one conformed copy of the Note and of this Security lnstrunlcnt.
<br />17. Transfer of the Propert). or a Beneficial Interest in Borrower. If all or any part of the Propt:rty or any
<br />interest ill it is sold or transferred (or if a ~ndicial interes.tlll 80rro\'\'\;r is sllld ~)r transferred and Borrower is not a natural
<br />person) without Lender's prior written consent, Lender may. allts option. reqUire imnu.:diatc payment in full of all ~unh
<br />,ccurt"-d by this Security Instrument. However. this option shall not be exercis.ed by Lender if cx;ercisc is prohibited b~
<br />federal law as of the date of this Securit; Instrument.
<br />if Lender exerclse~ this option, Lender ~hall give Borrower notice of acceleration, The notice shaH provide 1.l period
<br />afnO( k~.....~ than 30 days from the date the notice is delivered Of mailed within whidl Borrower must pay all sums $ccured by
<br />[his Security Instrument. If Borrower falls to pay these sums prior to the expiratioll of this period. Lender may 1Il\'Dke uuy
<br />remedies pc-rrrulted by tll1~ Se-curity Instrument without further notice or demaud Oil Horrowl"1'.
<br />18. 8urrower's Right to Reinstate, If Borrower Il1ccb cc:nain (.'l..JlUJitjol1S. Borw\\'t"f shall have lhe nght tI:) have
<br />cl1forn'ment oflhi~ Security In~trum(,l1t dis(:outinued at allY lime prh,)f to the t:arlicr l..lf: (a)::' day~ (lH ~u1,,'h <,lher Ih..'ril)d a:\
<br />apph('able law may ...pecify rIJr rClll~[atl:llh':llt) hcfort.' ~alc of the Propt.'rty pur~llant 10 ~lll) PU\\l'l' nf ~ak .....lHlt~HlH.:d in tIn;..
<br />Sc\'urit)' In~trumcnt. or (b) entry of a judgnKlll ~lIrorclng t tll~ Se~unt) In:.-.trulIlcflt_ ThoSl' l:ulldilh)ll~ art.: that Bl)f(ll\\'l'C
<br />(a) pa)\ I.emkr all \llln~ whl\.'h Ihl'll would he due unJcr thIS SCl:urity InstlulI1e!l1 and Ih\.' :\ll1t' had 110 .1....",:cknHh.111
<br />()('curn.~d; (h) cures ;lilY default nf an) lIlh\."!" i..'(\H:llant,... or agrct,.'lllt..'llh; (.:-) pa)~ all t'.\pc.:n.\c:-. Jlh.:ulT\.'d ill l'n1'llf\:Hlg ltw._
<br />Se;:urilY IIl'\'truIlH:nt, including, hut not hnulcd to. reasonable ;-H{()i'1h':\"~' fc~,"; <llld (d) litt...C\ "lll.:h al.:'llull <1\ Lt.'odel Ill""
<br />rea~onably re-4uire to a~~urc l}nn lhe lien of this Security !uslfun,etlt: Lender'') nghb tll the Prup.....n:-. :llh.! HlllTO\\-.....(~\
<br />obhgatlOll !l) pa) the ~um:>. \C(UfL'J by thi., Se(lHity fu;>,truuient shall continue lIth.:hallg.:J_ t'p,)[l ~'Cl!\,...tateIl!;:Il! 11~
<br />l)()fh1wer. lhi~ Scruril~' In3lrunH:lIl and the t.bhgatinns sculft;d herd),- ':>hall n:flwin full\' dfectl\l' ,1~ d nn a....."'.l.h.:r:Hll)i1 had
<br />ck,.'curn:d. 1l()I,\-~'d,;'f, lhi.... ftghl to n.:in~tatc ~hilllll\lt Ilpply III 1. he ;.'<1'50(" [)l:~I.(.'\;~kt;ItJ(ln Hilde; P;if,l.!-:-l.ir,h.. j _{ \ 'I ] ~
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