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If [ rn.ier rryuirr~i n;~,rt~;:ige ~n,uran~r :~ti ~onditi~,n ~~f mak~ng the laan srrurrd b~ this Se~unt~ ln+trumr:~t,
13~~rn~~~rr .hal! ~a~ thr {~renuum~ reyu~r~d to m~intain the insurunce in effect until ,urh timc a~ the reyuirrmrnt fur the
~i~~ur.~n~~ trnnin.itc, in a~~~~r~ianrr ~~ith B~~rruwrr's and Lender's w~ritten agreemcnt or applirahlr I;~w. .
8. Inspection, l.rncier t~r ih agent m~~• make rea~onable entries u~~n and inspecti~~ns ~~f the Pru~erty. l.rndrr ;
.h:~ll r t3~~rr~~~~rr iu~tirr at the nmr ot ~~r prior tc~:~n inspection specifying re;~son,ihle rause fur the ins~ection.
9. ('ondemnation. The prureed~ oj an~ a~~ard or rlaim for damages, dirrct or consryuential, in runnerti~m H~th
:~n~ ~~~n~irmsiati~~n or ~~ther t:tking ut an~ part uf the Pru~rt~, or fc,r rome~anre in Geu ot~ rondemnatiun, arr herebt
:i„i~;ntJ and .hall hr E,~~d t~, Lender. ;
In th~ r~rnt i~ia t~~tal tak~ng ~~f the Ym~rrt~•, the pnxeeds shall t~ applied to [he sums serured by this Securi~~ ;
ln,trument, ~?hether or not then due, ~~ith an}~ excess paid to Borrower. In the e~~ent of a partial taking of the Property,
utile,~ I3~~rmwer :~nd Lender utherwise agr~e in Hriting, the sums secured by this Sc~urit~~ Instrument shail t>e reduced b~~
thr amuunt ut the pnkeed~ multiplied b}~ the follow~ing fraction: (a) the total amount oi the sumti secured immediatel~~
h~t~~re tfie taking, di~ ided b} (b) the fair market ~-alue of the Property immediatel~~ before the taking. An}• halanre shall t~e i
~aid t~~ B~~rro~~er.
If the Pro~rty is abandoned b~~ Borrower, or if, after notire b}~ Lender ro Borrow~er that the ronden:nor ofTers to ~
i
make an .~~tard ur settle a rlaim for damages, Borrower fails to res~nd to Lender w~ithin 30 days after the date the n~~tire is
ei~ en, [.ender is authorized ro rollect and apply the proceeds, at its option, either to restoration or repair of the Propert~~ or
tu the wms,erured b}~ this Security lnsirument, w~hether or not then due. j
Unless Lender and Borrower otherwise agree in w~riting, any application of proceeds ro prinripal shall not extend or i
~~~~tpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such pa~~ments. j
10. Borrow~er \ot Released; Forbearance By Lender Not a Waiver. Extension of the time for pa}~ment or
modihrati~~n of amortization of the sums sccured by this Security Instrument granted b}~ Lender to any surcessor in
interest of Borro~~er shall not operate to retease the liability of the original Borrow~er or Borrow~er's successors in interest.
l_eiider shall not be required to commence proceedings against any successor in interest or refuse to extend time for
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b~ the uriginal Borrow~er or Borrow~er's successors in interest. Any forbearance by~ Lender in exercising any right or remedy
shall not be a w•aiver of or preriude the exercise of any right or remedy. .
l l. Successors and Assigns Bound; Joint and Several Liability; Co•signers. The co~~enants and agreements of
this Securit}~ Instrurrzent shall bind and benefit the successors and assigns of Lender and Borrawer, subject to the provisions
~~f paragraph 17. Borrow~er's covenants and agreements shall be joint and several. Any Borrower who co-signs this Securit}~ '
Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and conve}~
' that Borrow~er's interest in the Propertp under the terms of this Security Instrument; (b) is not personally obligated to pay
the sums secured b}• this Security Instrument; and (c) agrees that Lender and any other Borrow~er may agree to extend,
mudif}~, forbear ~r make an}~ accommodations w~ith regard to the terms of this Security Instrument or the Note w~ithout
rha! Borrow~er's consent.
12. Loan Charges. If the loan secured by this Securit~~ Instrument is subject to a law which sets maximum loan
~h~rges, and that law~ is finally interpreted so that the interest or other loan charges collected or to be collected in
~~~nnertion w~ith the loan exceed the permitted limits, then: (a) any such loan cha~ge shall be reduced by the amount
nece~sar~~ to reduce the charge to the permitted limit; and {b) any sums already collected from Borrow~er which exceeded
~ ~ermitted limits a~ill be refunded to Borrower. Lender may choose to make this refund by reducing the principal ow~ed
under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a
j ~artial prepa~~ment without anp prepayment charge under the Note.
I 13. Legislation Afieeting Lender's Rights. If enactment or expiration of applicable laws has the effect of
; rendering an}• provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option,
ma~ require immediate pa}~ment in full of all sums secured by this Security Instrument and may im~oke any remedies
~ ~ermitted b}• paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of
~ ~aragraph 17.
14. \otices. An}~ notice to Borrower provided for in this Security Instrument shall be given by deli~ering it or b~
f1111I1ng it by first class mail unless applicable law cequires use of another method. The notice shall be directed to thz
~ Propert~~ Address or an}~ other address Borrow•er designates by no[ice to Lender. Any notice to Lender shall be gi~~en b}
_ sirst class mail tc~ Lender's address stated herein or any other address Lender designates b}~ notice to Borrow~er. An~~ notirr
; ~,rcn~ided for in this Securit}~ lnstrument shall be deemed to ha~•e been given to Borrower ~r Lender when given as provided
~ i~~ this paragraph.
~ 15. Governing Law; Severability. This Securit} lnstrument shall be governed by federal law and the law of the
E jurisdictirni in which the Propert~• is located. In the event that any provision or clause of this Security Instrument or the
~ \ute conflirts w~ith applicable laH•, such conflict shall not affect other provisions of this Security Instrument or the Nc~te
~ ~~hich can be gi~•en efTect w~ithout the conflscting pro~ision. Tci this end the provisions of this Securit~~ Instrument and the
~ ti~tr are declared ta be se~erable.
€ 16. Borrow~er's Copy. Borrow~er shall be given one conf<~rmed ro~}• c~f the tic,te and of thiti Securit~~ Intitrument.
~ 17. Transfer of the Property~ or a Beneficial Interest in Borrow~er. If all ur ~in} p3rt ~f the Yrc~~ert} or an~•
i~zteretit in it is sold or transferred (or if a beneficial interest in B~rr<~wer is tiold c~r tramferred and Borrc~wer is not a natural
E ~eru~n) without Lender's prior written consent, Lender may~, at ~ts <~ption, reyuire immediate pa}ment in full c~f all tiums
~ .rcured b} this Securit~~ lnstrument. How~e~er, this ~ption tihall nc>> ber exerrised b~~ Lend~~r if excrri~e is ~rc~hibited b~
frderal law as of the date of this Securit}~ Instrument.
{f Lender exercitieti this opuon, Lend~r shal) gi~e Borrc~:ser n~~tice c~f acceleraticm. The neitsre shall prc~~ide a periud
~~f n~~t le,~ than i0 da}t from the date the n~~tice i~ dei~~ered or mailed within w hich Borrower must pa~~ all sum~ tierured by~
thi. Serurit~ lnstrument. If Borrower fails tc~ pay these sumti ~rior t~~ the exp~ration ~f thi~ ~eriod, I.ender may~ in~«ke an}~
r~me~ie` ~±ermitted b~ thi~ Serur.ty Instrument w~ith~ut further notice or demand on Borrouer.
18. Borrower's RiRht to Reinstate. If Borrow~er meetti certain conditic~ns, Barruwer shall hacr the right tc~ ha~e
~nf~~rrrment e,f thiti Serurit~ Imtrument di~cc~ntinued at an} time prior tc~ the e~rlirr ~~f: (a) 5 da~s (or tiuch c~ther ~eri~~d a, '
a~~lirahl~ la~+ ma~ .~e~if~ f~~r rein~t~tement) bef~re ~ale of thr Property ~unuant te~ an}~ ~ower of sale cantain~d in thi~ ~
Se~urih In~trumrnt: e~r (h? entn of a judgment enfurcing this Securit}~ Instrumrnt. Thcne rc,nditiom arr that B<~rrc~~~er
(a) ra~~ [.er.der all tiumti ~tihich then would tx due under this Securit~• Inttrument ai~d the tiote had nc~ arcelerat~<m '
~~crurred: Ih) cure~ an~ c!etault ~~f an~ i~ther co~enants or agreements: (r) pa}~ all ~xpcntirt inrurred in cnfeirring thi~
Secur~t~ In,trument. inrl~ciing, bw n~~t l~m~ted to, reatic~nable attc~rne~ti' teeti: ~rid (d) take~ `urh actte~n a~ Lender ma~ I
_ reaum~ihl~ reytjirr l~+ a~~urr th:~t thr lien c~f th~s Securit}~ Imtrument, Lender'~ right~ in the Prciperh and B<>rmwrr'~
~~bligat~~m t~~ r,i~ tnr ~um~ `~rured b~ thi~ Securit~• Instrument tihail ccintinue un~ticin~rd l'~~m reimtatement hc
I3~~rn~~~cr. th~. S«unt~ In.tru~t~ent aiid the ~bl~g~ti~mti tierured herch~ ~hall r~main (ull~ ~fTr~t~~~ a~ it n:~ ,irrrlerati~m hacl
~,rcurrrei H„~i<<<r. thi~ n~ht tc~ rein~tate tihall ni~t a~+~+l~ m thc ~a~e ~~f a~releran„ei u:ulrr r.uaXr~rh~ 1 ~~,r 1'
i'Dt~x U i~ PAG~ a~,~
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