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<br /> ' � � � Borrower may are such a defauft and reinstate, as provided in paragraPh 78, by causing the action or proceeding to be , � : -
<br /> __� ureeludes torfedure of the Bortower s interest in the Properry or
<br /> dism�ssed wrth a ruling that in Le��dcis gacd f��h d,.atemvnavon., ---- - �
<br /> other matenal impairtnent ot the lien aeated by this Securily Instrument or Lender's securiry interest Bortower shan atso De m
<br /> ,a._.
<br /> � delault it Borrower.during the loan appGcation process.gavP materia:ty�1se or inaxurate intarmation or statements to Lender(or � � e
<br /> i failed to proride Lesder with any material information) in connection with the loan evidenced by the Note. inGuding. but not I , T-
<br /> 1 fimited to, representations conceming Borrowers oca�PancY of the Rrcperty as a prinGpal residence. It this Security � �.x
<br /> � Instrument is on a leasehald. Barrower shall comply with al� the provisions o f t he I e a se- If BoROwer acquires iee title to the `. � , . „�_
<br /> .� property,the leasehold and ffie fee title shall not merge unless Lender agrees to the merger in wridng. � ` � _
<br /> 7. Proiection of Lenders Rigtns in tt�e Property n eorrower ta�is to perfortn the covenants and agreements �
<br />• 'j contained in this Security Insbvrnent :� there �s a !egal preceed�ng that may signficanUy afted Lender's rsghts in the Property � , . , _
<br /> ,_i (such as a proceeding in basilauptc}.�robate.for condemnation or for(eiture or to enforce laws or regulations).then Lender may �
<br /> ` ,� do and pay for whatever is necess3.} t: protect the value of the Properry and Lender's rights in the Property. ^en�urt.a a ins ` �, r
<br />-, may indude paying anv ssms sa:.:� by a lien which has priority over this Secarfiy �nsVUment. appearin9 P Y 9 �
<br /> _ reasor.2�:e attomeys' i�a�d ea':�3 on the Properiy to make repairs. Aithough Lender may take action under this paragraPh � - �
<br />.;'r<5 7. Lenc�3nes not hav=to do so. ' • � � ��
<br />:;Tf;;�'; qny amounts disbursed by Lender under parag�aph 7 shall become additional debt of Borrower sewred by this Secunty i , _
<br /> � � Instrument Unless Borrower and Lender agree to other terms of payment these amounts sha�� bear interest lrom the date ot
<br /> j disburseme+�t at the Note rate and sha11 ba payabte.with interesK.upon notice lrom Lender to Borrower requesting paymsnt
<br /> • 8. Mor4gage (tf3Ur3RC6. If Lender required mortgage insurance as a condition of making the loan secufed by [his : , ,
<br /> " i Securily�nstrument Borrawer shall pay the premiums required to maintain the moRgage insurance in eftect. 8. for any reason.the • r. - �
<br /> ' •i mortgage insurance coverage required by Lender lepses or ceases to be In eHeci. Bortower shall pay the premium9 requued to r,i�
<br /> --�,'
<br /> ; � j obtain coverage subslanUaQy equtvalent to the moRgage Insurance prev�ausly (n eftect. at a cost substantialty equNalent to the .. • -�•
<br /> � cost to 8orrower ot the mortgage tnsurance prevtousty In etfect. from an altemate moRgage insurer ayproved by Lender. N
<br /> � substanttally equNalent martgage insurance coverage is not evailebfe.Borrower shall pay to Lender each month a sam equat to `y�. . T� ._
<br /> ` - one-twelfth of the yeadyt mortgage Insurance premlum being paid by Borrower when the Insurance coverage Iapsed or ceased to °��;�
<br /> be in effecl. Lender r�i!! accept. use and retaln these payments as a loss reserve In Ileu of moRgage insurance. Los� •es�v2 �H ty.;. ,
<br /> pgyments may no longer ba reguired. at the optIon o1 Lender, it moRgage insurance coverage(In the amount and for the penod � -• _
<br /> � that Lender requtres) provlded by en insurer approved by Lender agaln becomes availabte and Is odtatned. Borrower shall pay �a�; ,.:;+5�:��__
<br /> the premfums required to mal�tafn moRgage insurance in eftect or to provide a Ioss reserve. urttil the requitement tor mortgage : •� .�1.�; ;:-..a_
<br /> � insurance ends in accordance wfth any written agreement between Bortower and Lender or app6cable law. ,, . . _ ."��-.:-
<br /> • 9. Inspection. Lender or its agent may make reasonable enfies upon and inspectlons ot the Property. Lender shall give .. .-_, •�'"� �
<br /> ' gurrower notice et the time of or pdor to an inspection specHying reasonabte cause for the inspection. ,�� ,.--
<br /> 10. Condemnation. The proceeds of any award or daim tor damages. direct or consequenUat.in connection with any -. . '- ; . .� .
<br /> �� condemnaUon or other taldng of any part of the Property, or for conveyance in lieu of condemnaUon, are hereby assigned and ,:-�r.•,' _ —
<br /> � shalt be pald to Lender. �.'""' '`";'�'�� .`; -�
<br /> la the event of a total taking of the Property, the proceeds sfiall be u�,.r.!+ed to the sums secured by this Security ,....._.._�,
<br /> ° fnstru.�r.:�whether cr not then due,wRh any excess pald to Bortower. In the ebc�t oi a parllal taldr►g of the?reaerty in which ;�,;;;•. _ �
<br /> •n^ ;s a!T� n-�reatet than the amount of th2 sums secured 3'• . "' "��"'� �
<br /> � ,� .. w.
<br /> ;he iair market val�e ot the Properly��atety betore the tala � equ ._ � ;- =
<br /> by Ltiis Security InsWment imme�y before the takfig, unless Bor.ower and Lendu othetwise agree in writing, the s�TS `'fyt'� n� �'" '
<br /> cec�.-n�d by this Security Instrument shall be reduced by Ihe amaunt ot the F��� multiplied by the following iracUon: (a;ttsa �. �.� .-
<br /> tota
<br /> I a-noant of the s�:�ns secured Immediately before the taking. divided by {5) tha fatr matket value ot the Propetry(mmed�ly �,',�*.,f ` � ' I '�'•?� ;:•��
<br /> bet�re the taldng. A.�y ba:ance shall be paid to Borrower.In the event of a partial taWng of the Property tn which the talr marhet �:�,_ . •.` ,.
<br /> vatue af the Property i,mmediately before the taking is less than the amount of the sums secured immediately before the taldng. � • - ,j��'''}?.;:
<br /> �ti� untess 8orrower and Lender otherwise agree In writlng or unles3 applicab:z taw otherwise provldes. the proceeds shafl be .E ;;�' . •--
<br /> r
<br /> _., applied to the sums secured by thls 8ecurity Instntment whether or not the sums are then due. 'w�� '�
<br /> If the Property is abandoned by Borrovrer,or i4,after noUce by Lender to Boaower that the condemnor offers to make an s�_'�'.
<br /> • award or settle a clalm for damages. Borrower Ta:ts to respond to Lender w'<•h'� 30 days after tAe date the noUce Is given. ... , �� '_� ,
<br /> Lender is suthorr_� to colfect and appty the proceeds.et fts option, either to restoration or repalr o}the Pe�eAy or to the ..T.�,Rt,�_�l.��i��,
<br /> sums sacured by t8is Securfly InsWmen�whethe►or not then due. � �R!�
<br /> L;n.zss Lender and BoROwer othenvlse agree In writing, a�y application ot proceeds to prindpal shall not ex[end or •, . ��
<br /> .� �s,..,;,�:�;
<br /> posty�na tha due date of the monthly paymerrts referred to in pzr�agaphs f^and 2 or change the amount of such payments. __.�e� -�_=_
<br /> 11. Borrowe� Not Relessed; Forbearanca By�ender hat a Wgivar.Extenslon of the Ume tar payn:�nt or _
<br /> modlficaUon o1 amortlzaUon of the sums sewred by thls Secufity Inswm2nt granted by Lender to any successor in interest o1 �°` , --
<br /> Bortower shatl not operate to re lease t he R a b i t i ry o f t h a ori g(nal Borrower or Borrower's successors ln intetest. Lender sha11 not =r:{r—"--
<br /> be requtred t� commence proceed(ngs agatnst any successor in int2rest or retuse to extend time tor payment or otherwlse ---- -' ��` ::
<br /> � modity amoNmtlon ot the sums secured by thls Security Instrumont by eeason of any demand made 6y the odglnal Borro��ar or ,,,.Y._..�.
<br /> ' Bortower s sucCessors in fnterest. Any forbearance by Lendv in exercising any dght or remedy shall not be a waNer of or Y�����`
<br /> ' predude the�cercise of any right or remedy. �;?'�"!'""nO"+�,.� :
<br /> ' 12. Successars and Asstgns Boun�l; Joint and Seva�a� Uability; Ctrslgnera. Tts9 covenants and _
<br /> agreements o}this Secudty Instrument shall bind and beneflt the suceessars and asst�s ot Lender and BoRaw�r,subJect to the �,�}������::�
<br /> provlsions oi paragraPh 17. 8ortower s covenants and agreements shall bs join!and several. My Bortower who castgns this �.; � .�. ,,..,.
<br /> ° S�c�:r�:.y Instrument but does not execute the tVote: (a)r co-si�ing this Secudty Instmment only to mortgage,grant and convey •:, • , �„�� �.
<br /> tha4 �ocroweYs ir.'?rest In the Roperty under the tertns of this Securfty ►na7ument; (b) Is not personalty obllgated to pay tha ,.^��,
<br /> su:ns secured by tri�Securfry InsWment; and (c) agrees tfiat Lencer a�d any other Bortower may agree to extend,madi*�. _ �e
<br /> torbear or make snN aacommodetlons wfth regard to the terms of this S�curny Instrument or the Note v�fthout that Bonower's . .
<br /> ��"�-.
<br /> � con:,�mt. '''� -..�_�`. �.
<br /> � 93. Loan C�tefge8. If the �oan secured by this Secufdy �nsitument is subject to a Iaw whlch sets m�i:rum Io�n . ' "
<br /> � • charges, and thst Iaw Is finalty interpreted so that the Interest or oiher loan charges collected or to be colleeted in con�ecilon ',j::�;,'`.�
<br /> with the loan e>:c�e�the permmed limtts,then: (e)eny such toan charge shall be reduced by the amount necossary to reduce
<br /> the charge to the permitted limit: and (b) am/ sums already collected irom Bortower which exceeded permitted tlmits will be
<br /> refunded to Bonower. Lender may choose to make this retund by reducing the princlpal owed under the Note or by making a �
<br /> � direct payment to Bonower. If a retund reduces principal. the reduction will be treated as a pattial prepayment without any . .
<br /> . prepayment charge under the Note. � . � --
<br /> � 14. NOtiC68.Any notice to Bonower provlded for in thls Securlty Instrument shall be glven by delivering it or by mailing d ..
<br /> by flrst cluss mafl unless appllceble law requlres use of another methad. The notico shall be dlreeted to the Property Address
<br /> or any other address Bonower designates by notice to Lender. Any notice to Lender shall be glven by itrst ctass mail to _
<br /> • Lendar's address stated hereln or any other address Lender designates by noUce to Borrower. Any noUce provlded tor in thls . ` �:
<br /> Securiry InsUument shnll be deemed to have becm glven to Bonower or Lender when glven as provlded in thls paraqraph.
<br /> � 15. Govemtng Law; Severabllity. This Security Instrument shall be govemed by federal law end the law o1 tha � • .■_-
<br /> . jurlsdlctlon in which tha Properry is lopted. In the event that any provlsion or ctause ot thls Security Instrument or the Note � • �
<br /> conflic�v�ith applicable law, such coniltct shall not aftect other provlslons of this Securriy Instrument or the Note which can be
<br /> . , given e(fect without the conflicNng provision. To this end the provfsions o1 lhis Security Instrument and the Note are declared to �
<br /> b�s_werable.
<br /> 16. BO7CmVJ9�'S C0�1y�onower shall be given or.e coniormed coDy of the Note and of this Sec�r.ty Instrument. � _
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