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If Lender roquired mongage insurance u a condition of making the loui ucured by tAis Secunty instrumrnt,
Borrower sha11 pay th~ premiums requircd to maintiin thc insuranse in e6cct until such time u the requiremrnt for the
insurance terminata in accordance with Borrower's and Lender's writtrn agreement or applicable law.
S. lnspectioa, Lender or its agent may make reasonable rntries upon and inspections of the Property. Lrnder
shall give Bonower notice at the timt of or prior to an inspoction apecifying rqsonable cause for the inspoction.
9. Coodemnation. The proceeds of any award or claim for damaga, diroct or oonsequrntiil. in connection with
any condemnation or other taking of any part of the Property. or for conveyance in lieu of condemnation. arc hereby
ass~gned and shall bt ~lid to l.ender.
In the event of a total taking of the Property, the procxeds shall be appliod to the sums :ocured by this Socurity
Instrument, whcth~r or not thrn due, with any exceu paid to Borrower. ln the tvent of a partia! uking of tht Property.
untas Borrower and Lcmder otherwise agree in writing, the sums socurod by this Sccurity Instrumrnt slull be reduced by
the smount ef the proceods multiplied by the following fractitm: (a) the total unount of the sums secured immediately ~
befor~ th~ taking, divided by (b) the fair muket value of the Property immedutely bdon the taking. Any balance shali be
paid to Borrower.
If the Property is abandonod by Borrower, or if, after notice by Lmder to Borrower thst the condannor o6ers to ~
make an award or settle a clsim for dam~ges, Borrower fails to rapond to Lerader arithin 30 days after the date the notice is
given. Lender is authorized to collect and apply the procxds, at its option, either to ratontion or repair of the Property or
to the sums secured by this Security Instrumrnt, whether or not then due.
Unless Lrnder and Borrower othenvise sgree in wrriting, any applicaaon of prooeeds to principsl shall not eatend or
postpone the due dAte of the manthly payments refernd to in pangnphs 1 and 2 or change the amount of such paymrnts.
10. Aorrower Not Reteased; Forbea~ucc By Leader Not a Wai~er. Extauion of the ame tor payment or j
modification of amortiution of the swns secwed by this Socurity lnatrument granted by I,ender to any aucoasor in ;
interest of Borrower shalt not operate to release the liability of the origiaal Borrower or Borroaer's succasors in interest. '
Lender shall not be requircd to commena ~roceediags against any sucoessor in interat or rtfuse to extend time for
payment or otherwise modify amortization of the sums secured by this Security Instrument by rnson of any de~nand made ~
by the originil Borrowet or Borrow~r's successon in interest. My forbearance by Lendtr in exercising any right or remedy
shall not be a waiver of or procludt thc eacercise of any right or remcdy.
11. So~casors snd Assi~os Bound; Joint and Serera! Liabili i
ty; Co~signers. The covenants and agreemrnts of :
this Security Instrument shall bind and bene5t the successors and assigns of Lrnder and Borrower, subject to the provisions
of paragraph 17. Borrower's covenants and agreanrnu slup be joint and several. Any Borrower who co-signs this Security
lnstrument but does not exxute the Nou: (a) is co-signing this Socurity-Instrument oe{y to mortgage, grant and oonvey
that Borrower's interest in the Property under tho terms of this Secvrity lnsuument; (b) is not porsonally obligated to pay
the sums secursd by this Security Instrumsnt; and (c) agras that Lrnder and any other Borrower may agre,e to extend,
modify forbear or make any accommodations with regard to the tams ot this Se~urity lnstrument or the Note without I
that Borroaer's conset~t. i
12. Loan C:buges. If the loan secured by this Security Instrument is anbject to a law .vhich sets muimum lou: ~
charga, and that law is finally interprtted so that tbe intvat or other loan charges collxted or to be collected in
connection a+ith the loan exc~eed the permitted limiu, tbea: (a) any such loan charge shaU be reduoed by the amount ~
necasary to reduce the charge to the permitted limit; and (b) any sums alteady collected from Borrower which ea~oeeded
permitted limia will be refunded to E3orrwver. Lrnder may choose to make this rrfund by reducing the principai owed
under the Notc or by making a dirxt payment to Borrower. If a rd'and reducxs ptincipal, the roduction will be trcatai as a ~
partial prepaymrnt withouc any prepayment chargc under the Note. ,
13. I.egislitioa Atfecting Lender's Rig6ts. If rnactment or expintion of applicable laws has the etfxt of
rendering any provision of the Note or this Socurity Instrument unenforceable according to its terms, Lender, at its optian,
may r~quire immediate paymrnt in full of atl snms securcd by this S~curity Instrumrnt and may invoke any rem~dies
prrmittod by paragraph 19. Jf Lender exercises this option, Lender shall uke thc steps speeifiod in the second para~raph of
paragraph 17.
14. Notiees. Any notic~ to Borrower provided for in this Socurity Instrument shall bc given by detivering it or by
mailing it by first ctass mail uni~s applicable law requira ux of another method. The notice shall be directed to ihe
Property Address or any other addras Borrower designata by notice to Lender. Any notice to Lender shall be given by
first class mail to Lender's address stated herein or any other address Lender daignata by notice to Borrower. Any notice
provided for in this Security tnstrument shall be deemed to have been given to Borrower or Lender when given as provided
in this paragraph.
15. Go~erning I„:w; Sererability. This Security Instrumrnt shall be governed by federal Iaw and the law of thc
jurisdiction in which the Property is located. In the event that any provision or clause of this S~urity Instrumrnt or the
Note conflicts with applicable law, such conflict shall not affect otha provisions of this Security Instrument or the Note
vJhich can be givrn eSxt without the confticti~g provision. To this end the provisions of this Security Instrument and the
Note are declared to be severable.
!6. Borrower's Cu~y. _ Borrower shall be given one confmmed copy of the Note and of this S~curity Instrument.
17. 'fransfer of the Property or t Beneficiil I~tenat in Borrower. If all or any part of the Property or any
interat in it is soid or transferred (or if a beneficial interrst in Borrower is sold or transftrred and Borrower is not a natural
persoa) without Lendcr's prior writtrn consent, Lenda may, at its option, roquirc immodiate payment in ful! of a)1 sums
secured by this Security Instrument. Howrver, this option shall not be eaercised by Lrnder if exercise is prohibited by
fal~ral law as of th~ date otthis Socurity Instrument.
If Lender exercisa this option, L,ender shall give Borrower noticx of acceleration. The notice shall provide a ariod
of not las than 30 days f om the date the notice is delivered or maiicd within which Borrower must pay all sums securod by
this Security Instrument. 1f Borrower fails to pay these sums prior to the ~zpiration of this period, l.ender may invoke any
remedia permitted by this Security Instrument without further notice or demand on Borrower.
I$. Borrower's Right to Reinstate, If Borrower meets certain conditions, Bonower shall have the right to have
; nforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) S days (or such other penod as
apalicable law may specify for reinstatement) beforc sale of the Property pursuant to any power of sale conta~ned in this
Security Instrumrnt; or (b) entry of a judgment enforcing this Security Instrument. 'fhose conditions arc that Borrcwer:
(a) pays Lender all sums which then would be due under this Security Instrument and the Note had no acceleration
occurred; (b) cura any default of any other covenants or agreements; (c) pays all ~xpenses incurred in enforcing this
Sczurity Instrumcnt, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may
reasonabl} require t~ assure that the lien of this Securit~~ Instrument. Lender's nghts in the Property and Bc~rrower's
obl~gation to pa~• the sum~ secured b}~ th~s Security Instrument shall contmue unchanged. Upon reinstatement by
Borrower, this Secunt~ Instrument and the obl~gauons sccured hereby shaU rema~n fully efi'ectrve as if no accelerahon had
occurred. However, this nght to ranstate shal{ not apply in the case of acce(erat?on under paragraphc 13 or 17.
~.~A 32 (Rev. ~~,a4> ~~»K455 P~~ ~3
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