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<br /> .Bortpwer may cure such a•delautt and reinstate. as provided in paragraPh 18. by causing the acffon or proceeding to be .
<br /> ; � �smissed with a ruU�9��in Lenders good taith decermination,predudes toReiture ot the Bortowers interest in the Prop¢rty or �` � �
<br /> - ` � "� � other materiat impairtnerrt of the Gen ueated by this Securiry IasUumeat or Lenders security interest Borrower shall also be in , '` `
<br /> . f� `'� defauR if Borrow�.during the loan appGca6on process.gave materlalty talse or inatcurate intortnation or statements to Lender(or ,
<br /> � - ' � � taifed to provide Lender with any material into►matios�) ia connec4ion with the Ioan evidenced by the Note. induding. but not �• �.�,.-�
<br /> � Wnited to. representations conceming Borrowers aecupancy of the Property as a prinapa! residence. if this Securily . ,
<br /> • • � instrument is on e leasehatd. Bartower shail eompty with all the provisions of the Iease. If Bortower acquires tee title to the � �
<br /> Properiy,the teasehoid and the fee title shall no1 merge unless Lender agrees to the merger in wriUng. ��.. . ' .
<br /> • � . T. Protection of Lende�'s Rights in the Property.tt eorrower ta;ts to pe�form the covenants and agreemertts • . .
<br /> = contairted in this Security Instrument, or there is a legai proceeding that may significantly aifect LendeJ's rights in the PropeAy� , ,
<br /> ' (sueh as a proceed'mg in bankruptcy. prpbate. for candemnation Qr fodeiture or to eniorce laws or reguiations).then Lender may� � ,
<br /> � � do and pay far whate+rer is necessaryr to protect the value ot the Property aad Lender's rights in the Property Lender's actions ' '���f`.
<br /> : ` may inctade paying eny sums secured by a ►ien which has pdority over this Securiry InsVUment. appearing in couR. paying , . . _
<br /> ,` . ' _y_..`� reasonable attomeys'fees and entering an the PropeRy to make repairs.Although lender may take action under this paragraph�
<br /> • 7, Lender daes not have to do so. - -- -- -
<br /> - : ___.._�_�j My amounts disbursed hy I.rnder under paragraDh 7 shall become addiBanat debt of Bonower secured 6y this Securiry�+ - � --� �: _, '
<br /> InsVumen� Untess 8arrower and Lender agree to other terms of payment, these amounts shall 6ear interest hom the date of�
<br /> 1 cLsbursement at the Note rate and shall 6e payable.with intecest.upan notice irom Lender to Bonower requesting payment. ;
<br /> • � 8. Mortgage Insurance. H Lender required mortgage irtsurance as a condrdon of making the loan secured 6y this , _ ��,r,,'' �
<br /> • gecuriry Instrument. Borrower shall pay the premiums required to maintain the moRgage insurance in effect If,for any reason.the� ''t;-�,:�� r
<br /> ,; , . '� mor[gage insurance toverage required by Lender lapses or ceases fo be in effect. Borrower shall pay the premiums required to ` a�'""; •.
<br /> obtain coverage substantially equivatent to the moRgage insurance previausly i� ettecl. at a cost substan6ally equivalent to the .
<br /> � eost to Bortower of the mortgage insurance previously in eftect, trom an altemate mortgage insurer approved by Lender. I1 ":• t
<br /> subslantiaily equivatent mortgage insurance cove►age is not available. Borrower shaii pay to Lender each month a sum equal to M._
<br /> one�tweifth of the yearly mort�ge insurance premium beircg paid by Borrower when the insurance cov�age lapsed or eeased to • "'���- ��
<br /> be in effed. Lender will accepl, use and retain these payments as a Iass reserve in Geu of moRgage insurance. F.oss reserve j�r�`�_`
<br /> � � ". ..� payments may no longer be required,at the optian of Lender. H moRgage insurance coverage (in the amourtt and fw the period - , =
<br /> that Lender requires)provided by an insurer appraved by Lertder again becomes availabie and is obtained BoRawu shall pay
<br /> � � the premiums required to maintain mo rtgage insurartce i n e f t e d, o r t o p r o v i d e a Ioss reserve. until the re quirement for martgage =-:,,
<br /> insurance ends in accordance wtth any written agreemeni between Barrower end Lender ar appiicable law. •�
<br /> _ .I 9. InSpBCtioO.Lende►or its agent may make reasonable entries upon and inspeetions of the Praper[y. Lertder shall give _;'
<br /> " , '.• I Borrower notice at the tlme at or prior to an inspecdon specifying reasonabie cause}or the inspection. - , ; ':°"' `
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<br /> � .'_{ 10. COrid9m�stiOtl. The proceeds of any award or ciaim tor damages.direct or consequentiat.in connection with azry g��'�
<br /> 1 condemnation or other taking ot any part of the Property. or for conveyance i� lieu of condemnation, are hereby assigned and �F
<br /> ,' • <<- shall 6e paid to Lertder. �,'
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<br /> . � In the event ot a totai taidng ot the Properry. the pro�eeds shall 6e applied to the sums seared by this Security . �",.�ii,:'�,�
<br /> instrumen�whether or rtot then due.wRh any excess paid to Borrower. In the event of a paRiai taWng o1 the Property in which • !�•�`-�`�•�`E
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<br /> � ''`' "" Ihe fair market valae of the Property immediatety before the taking is equal to ar greater than the amount of the sums secured , . .••"�=
<br /> � �;_:_ by this Security InsVument immediately before the taking, unless Bartower and Lender othervvise agree in writing. the sums l_�.�_
<br /> . secured by this Security InsVument shatt be reduced by the amount of the proceeds multiplied by the following fraction: (a)the 1 °=",�
<br /> , . . total amount of the sums secured immediately before the taking, dnrided by(b) the fair market value of the f'roperty immediatety :',t{;,�;
<br /> `j . , ; before the taking. My 6aiance shall be paid to Borrower. In the event of a parUal tatdng of the Property in wbicb the fair market ,
<br /> • = vaiue ot the PropeRy immediatety 6etore the taking is less than the amount of the sums secured immediately betore the taidng. ±'"�'�=
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<br /> ,� ' �, unless Bortower and Lender otherwise agree in writing or unless applipble Iaw othervvise provides, the proceeds shall be ` � � ��•,
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<br /> applied to the sums secured by this Security Instrument whether or not the sums are then due. � ;r,:i
<br /> ;, : 11 the Properry is abandoned by BoROwer, or if, after notice by Lender to 9ortower ihat the condemnor o8ers to make an � ,f�,.
<br /> award or settte a claim for damages. Bortower fails to respond to Lender within 30 days after the date the notice is given. �;<<r� :
<br /> Lender is authorized to wliect and appy the proeeeds. at its option, either to restoration or repair of the Property or to the <�_f.;
<br /> `• sums secured by this Securiry Instrument,whether or not then due. ,. � ;�,��:r;
<br /> . Unteas Lende► and Bonower othervvise agree in wri6ng, any appiication oi proceeds to principal shall not extend or -
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<br /> � ' posipone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of suct�payments. ,
<br /> 11. Borrower Not Reteased; Forbearance By Lender Not a Walver.Extension of the time for payment or • : � ��•�?�
<br /> � modificatfon of amortaation oi the sums secured by th(s Security Instrument granted by Lender to any successor in interest of '�"�
<br /> . . , Bortower shail not operate ta retease the liabiliry of the odginal Borrower or Borrower s successors in interest. Lender shall not . _
<br /> be required to commence proceedings against any successor in interest or refuse to ex[end time tor payment or othenvise , � =�T
<br /> , „ • •� modity amortizetion of the sums sewred by this Security Instrument by reason o1 any demand made by the original 8orrower ot �
<br /> ,, � Bortowei s successors in interest. My }orbearance by Lender in exercising any dght or remedy shall not be a waiver of or . --
<br /> , , preGude the exercise of any rtght or remedy.
<br /> � 12. Successors and Assigns 8ound; Joint and Several L.Iabili4y; Co-signera The covenants and •. '
<br /> , .7 agreements of this Securiry Instrument shait bind and benelit the successors and assigns oi Lender and Bortower, subject to the � �
<br /> �• � provisions of paragraph 17. Bartower's covenants and agreements shall be jofnt and several. Arry Bortovier who co•signs this
<br /> —.--.— . Security tnsirument but does not execute the Note: (a)is co-signing this Security Instrument oniy to moRgage,grant and convey � �. ..
<br /> • ' that Borrowei s interest in the Properry under ihe terms ol this Securily Instrument; (b) Is not personaily obligateA to pay the � �
<br /> ' . ; sums secured by this Security instrument: end (c)agrees that Lender and any other Borrower may agree to extend, modify. . .
<br /> . � forbear or make any accommodatlons wRh regard to the terms of this Security instrument or the Note without that Bortower's
<br /> � ' • consem. .
<br /> 13. I.oan Cha�g83. H the loan secured by this Security Instrument is subject to a law which sets max�mum �oan
<br /> charges. and that law is finally interpreted so that the interest or other toan charges colleeted or to be cottected in connection �
<br /> �` with the loan exceed the permitted limits.then: (a)any such loan charge shall be reduced by the amount necessary to reduce
<br /> • ; the charge to the permrtted limit: and (b) any sums already collected hpm Borrower which exceeded pertnitied Iimits will be
<br /> relunded to Barrower. Lender may choose to make this retund by reducing the principal owed under the Note or by making a � • .
<br /> . .�� dire�t payment to Borrower. N a refund reduces principal. the reduction v�ill be treated as a paRial prepayment without any ..
<br /> _ prepayment charge under the Note.
<br /> .. 14. (VOtiCe3.Any notice to Borrower provided tor in this Security Instrument shall be given by delivedng it or by mailing d � �
<br /> '� . by tirst class mad unless applicable Iaw requires use o} another methad. The notice shall be directed to the PropeRy Address �
<br /> or any other address Borrower designates by notice to Lender. Any notico to Lender shall be given by first class mait to
<br /> �.:'i� Lender's address stated herein or any other address Lender designates by notice to Borrower. My notice prowded tor in this �
<br /> � Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph.
<br /> � . 15. Doverning Law: SBVe�ebility. Thls Security Instrument shalt be governed by federal Iaw and the Iaw ot the
<br /> jurfsdiction in which the Property is located. In the event that any provision or clause o1 this Security Instrument or the Note
<br /> • conflicts with applicable law. sueh conflict shalt not aftect other provisions of this Security Instrument or the Note which ean be
<br /> grven eftect vnlhout the conflfcting provis�on To this end the provisions o1 this Security InstrumeM and the Note are declared to
<br /> . be severable.
<br /> - � 16. SOrrowe►'S COpy. Borrower shau be qiven one contormed copy ot the NotP ar.d ot this Securdy Instrument .'.. � �
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