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<br /> 7. Protectlon of Lender's SecuNty.If Borrower faiis to perform the covenants and agreements contained in this Security ';��
<br /> Inatrument,or if any action or proceeding is commonced which materfally aifects Lender's interest in the Property,then Lender,at Lender's '' .>>�_
<br /> option,upon notice to Borrower,may make such appearances,disburse such sums,incl��ding reasonable strorneys'foes,and take such � ��n.-
<br /> acUon as is necessary to protect Lender's Interest.any amounts disbursed by Lender pursuant to this paragraph 7,with finance charges _
<br /> thereon,at the rate provided in the Credit Agreement,ahall become addltional indebtedness ot Borrower secured by this Security � __
<br /> Instrument.Unless Borrower and Lenderagree to other terms of peyment,such amounts shall be paysble upon notice from Lender to � ', ____
<br /> ' Borrower requesting payment thereof. NWhing contained In this paragraph 7 shall require Lender to Incur any expensA or take any action : -_
<br /> hereunder.Any action taken by Lender under thls paragraph shall not cure any breach Borrower may have committed of any covenant � _
<br /> or agreement under this Security Instrument.Borrower agrees that Lender fs subrogated to all of the rights and remedies of any prlor '°'1�r'�'�_
<br /> Ifenor,to the extent of any payment by Lender to such Ifenor. � ' �` ::
<br /> B. Inspectlon.Lender may make or cause to be made reasonablo entries upon and inspections of the Property,provided that • •• -- ':
<br /> Lender shall give Borrower notice prior to any such inspectfon speclfying reasonable causetherefor related to Lender's interest in the Property, O ;,*t�.u,:s=.-�
<br /> 9. Condemnetion.The proceeds of any award or ciaim for damages,direct or consequentlal,In connection with any condem• �
<br /> nation or other taking of the Property,orpart thereof,or for conveyance in Ileu of condemnatlon,are hereby assigned and shall be pald ' }�.-:"
<br /> � to Lender,to the extent of any indebtedness under the Credit Agreement,subject to the terms of any mongage,deed of trust or other 1� ;;.
<br /> � securiry agreement with a Ilen which has priority over this Security Instrument. � '�'��_��
<br /> { 10. Borrower Not Released; forbearance By Lender Not e Weiver.Extension ot the time for payment or modfiication of A. i�w.,
<br /> amortizetion of the sums secured bythls Security Instrument granted by Lender to anysuccessor in interest of Borrower shall not operate ;�,;�;�;
<br /> to release,in any manner,the flability of tho originai Borrower and Borrower's auccessors in interest.Lender shall not be required to • %_�°==
<br /> commdnce proceedings aga(nst such successor or refuse to extend tfine for payment or othervvise modify amortization of the sums secured �`.��:
<br /> by this Securiry Instrument by reason of any demand made by the original Borrower and Borrower's successors in intere3t.Any forbearance .,s,���
<br /> by Lender in exercising any right or remedy hereunder,or otherwlse afforded by applicablo law,shail not be a waiver of or preclude `��_:�"-
<br /> the exorcise of any such right or remedy. w`��
<br /> +• 11. Successora and Assigns Bound;Joint and Several Liebllity;Co-sfgners.The covenants and agreements herein containod !;��w
<br /> shall bind,and the rights hereunder shallin ure to,the respective ouccessors and assigns of Lender and Borrower,subject to the provi• 'y:`��';?
<br /> sions oi paragraph 21 hereof.All covenants and agreements of Borrower shall be joint and several.Any Borrower who co•signs this ;.,v....
<br /> Security Instrument,but does not executethe Credit Agreement,(a)is co•signing this Security Instrument only to grant and convey that � "�'�=-
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<br /> '�. Borrower's interest in the Property to Trustee under the terms of this Securfty Instrument,(b)is not personally Ilable under the Credit z �
<br /> Agreement or under this Security Instrument,end(c)agrees that Lender and any other Borrower hereunder may agree to extend,modify, �-
<br /> forbear,or make any other accommodations or amendments with regard to the terms of this Security Instrument or the Credit Agree- ;�
<br /> '�: ment,wlthout that Borrower's consont and without releasing that Borrower or modifying this Security mstrument as to that Borrower's
<br /> S�. interest in the Property. �''_
<br /> i 2. ilaiica.Excs�i tor arr rcilr,c;cqu;:cd undcr app9cs�le!s:�:!e tre gl:�en��a.^.oihe�mannQr,;8)fltly►1!�tlrw tn R�r��yya��mvitlqd �:�.�,"
<br /> for in this Security Instrument shall be given by dellvering it or by mafling such notice by certiiled mail addressed to Borrower at the � �=
<br /> Property Address or at such other address as Borrower may designate by notice to Lender as provided hertiin,and(b)any notice to �`—
<br /> Lender shall be given by certified mai I to Lender's address stated herein or to such other addreas as Lender may designate by notica ==
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<br /> � to Borrower as provided herein.Any ndice pravided for in this Security Instrument shail be deemed to have been given to Borrower �_
<br /> or Lender when glven In the manner designated here(n.
<br /> 13. CioverningLaw;Severability.ThestateandlocallawsapplicabletothlsSecuritylnstrumentshallbethelawsoftheJurisdlctlon ---� �:•,
<br /> in which the Property is located.The faegoing sentence shali not Ilmit the applicabillty of Federal law to thfs Securlty Inatrument.In �'
<br /> the event that any provfsion or clause dthis Security Instrument or the Credit Agreement conflicts wtth applicabie law,such conflict yF'•
<br /> shall not aNect other provislons of this Security Instrument or the Credit Agreement which can be given eHect without the conflicting
<br /> provision,and to this end the provisionsof this Security Instrument and the Credit Agreemont are declsred to be severable.As used -
<br /> herein,"costs,""expenses"and"attorneys'fees"(nclude all sums to the extent not prohib+ted by applicable law or Ilmited herein. E=
<br /> 14. Priar Mortgage or Deed of Trust;Modiiicatlon;Future Advance.Borrower ohall not enter into any agreement with the ��
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<br /> holder of any mortgage,deed of trust orolher security agreertient which has prfority over this Securlty Instrument by which that security �.:
<br /> agreement is modifled,amended,exter�led,or renewed,without the prior written consent of the Lender.Borrower sh�il neither reguast ��_
<br /> nor accept any future advance under a prar mortgage,deed of trust,or other securiry agreement without the prior written consent of Lender. �".-'
<br /> 18. Borrower's Copy.Borrower shall be furnished a copy of the Credit Agrsement and of this Security instrument at the time
<br /> of execution�r atter recordation hereof. -_-__
<br /> 18. RehabiUtation Loen Agreement.Borrower shall fulfill all of Borrower's obligations under any home rehabilitatlon,improve• _ —
<br /> ment,repafr,or other loan agreement which Barrower may enter into with Lender.Lender,at Lender's optlon,may require Borrower _-
<br /> to execute and deiiver to Lender,In a form acceptable to Lender,an assignment of any rights,claims or defenses which Borrower may —
<br /> have against parties who supply labor,materfais or services in connectfon with ImprovemeMs made to the Property.
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