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If l.ender reyuirrd m~~rtgage insuranre ss a rond~t~un of making thr lusn serured by ~hi~ Se~urit~• Instrumrnt,
E3~~rn~wer .hali the pre?n?ums required tu m~~n~ain the insuranre in effect unt~l such time as Ihe reyuirement for the
in,urance terminatr~ in accurdance w ith f3orrowrt's and Lender's wntten agreement or :~pplicable law•.
8. Inspection. l.ender ~~r ~tti agent ma~ make reasonabte entries upcm and ins~ections of' the Pmpert~~. l.endrr
,hall gi~e f3~~rro~er noti~e st the time of or prior to an ins~ction s~cif~~ing reau~n~ihle ~ause for the inspertiun.
9. Condemnation. The pnkeeds of any~ aNard ur claim for damages, dirert ar ronseyurnUal, in ~unnertiun Hith
any cundrmnat~on ur other tak~ng of an~• part uf the Pro~rty, or fur cun~e}anre in lieu c~f rundemnation, are hereb}
a~tiigned and shall t~e ~aiu t~, Lender.
In thr e~ent of a tutal tak~ng ~~f the Pro~rt~~, the pr~x~e~is ~hali he a~plied t~~ the ~ums ~erured by this Serunty
Intitntment, whether or not then due, w•ith any excess paid to Borrow~er. In thr e~ent of a pari~al taking of the Vmpert~•,
unle,s Borrower and Lender otherwise agree in writing, the sums secured t~~• this Serurit~~ lntitrument shall be redured by
the amount uf the pnxeeds multiplied b~• the following fraction: (a) the total amount of' the sums secured immediatel~~
hef~~re the taking, di~•ided by~ (b) the fair market value «f the Prupert~~ immediatel~• bef~~re thr taking. Any balancc shail he
~aid t~~ Borro~cer.
If the Prupert~~ is abandoned b}~ Borrow~er, or if, after notire b~• Lendrr t~~ B~~rmK~er that the ~•ondemnc~r c~fTers to
makr an award ur settle a claim for damages, Be~rrow~er fails t~~ resFx~rd to I.ender w ithin i0 da~s after the date the nc~tice is
gi~en, Lender is authorized to collect and appl~~ the pnkeeds, at its ~~pti~~n, either t~~ re.t~~ratiun or repair of the Pr~~pert}• ur
to th~ sums secured b~• this Securit~~ Instrume~~t, H~hether or not then due.
L'nless Lender and BorroH~er otherw~ise agree in w~riting, an}~ application of prucrrdti t~~ prinripal tihall not extend or
Exxt~me the due date of the monthlp pa~~ments referred to in paragraphs 1 and ? or changr the am~~unt of surh pa~~ments.
10. Borrower \ot Released; Forbearance By I.ender \o[ a Waiver. Extention ~~f the time for pay~mem ar
me~ification of amortization of the sums secured b~• this Securit}~ Instrument granted b~~ l.ender tu an~ successor in
interest of Borrow~er shall not operate to release the liability of the c~riginal Burrower ~~r E3~~rru~~er's successors in interest.
Lender shall not be required to commence prcxeedings against an}~ ~ucretisor in intere~t or refu,e tu ettend time for
pa~~ment or otherH ise mociifj~ amortization of the sums secured by thiti Serurit~ In~trument hy reason of any demand made I
by the original Borrow~er or Borrawer's sucressors in interest. Any forbearanre b~• Lender in rrercising an~• right or remedy~
.hall not be a w~ai~~er of or preclude the exerrise of any right or remed}~. !i
li. Successors and Assigns Bound; Joint and Several Liabilit}•; Co-signers. The co~~enants and agreernents of '
this S~curity Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the pro~~isions ,
of paragraph 17. Borrow~er's co~•enants and agreements shall be joint and several. Any Borrow~er ~~ho co-signs this Securit}• '
~ Instrument but does not execute the tiote: (a) is ~o-signing this Security lnstrument oni~~ to mortgage, grant and rom~ey
that Borroa~er's interest in the Yropert~~ under the cerms of this Securit}~ lnstrument; (b) is not personally obligated to pa}~
the sums secured b~~ this Securit~• Instrument; and (c) agrees that Lender and any~ ather Borrow~er ma}~ agree to extend,
modify~, forbear or make an} arrommodanons with regard to the terms of this Securit}~ Instrument or the Note w~ithout
that Borrow~er's ce~nsent.
12. Loan CharRes. If the loan secured b~~ this Security Instrument is subject to a law~ w•hich sets maximum loan
charges, and that law~ is finali~~ interpreted so that the interest or other loan charges collected or to be collected in
i ronnection ~~ith the I~an exceed the permitted limits, then: (a) an}~ such loan charge shall be reduced by the amount
~ necessar~ to reduce the charge to the permitted limit; and (b) an~~ sums already collected from Borrow•er which exceeded
f permitted limits will be refunded to Borrow~er. Lender may choose to make this refund b}• reducing the principal ow•ed
j under the Note or by making a direct pa~~ment to Borrower. If a refund reduces principal, the redurtion a~~ll be treated as a
~ partial prepa}~ment w~ithout an}~ prepay~ment charge under the Note.
' 13. Legislation Affecting Lender's Rights. If enactment or ex~irati~,n of applicable laws has the effect of
~ rendering an~• provisi~n of the ?~'ate or this Security Instrument unenforceable arr~~rding to its terms, Lender, at its option,
ma~~ require immediate ~a}•ment in full of a!I ~ums secured b~ this Securit~ Instrument and may imoke any remedies '
~ permitted b}~ paragraph 19. [f Lender exercises this option, Lender shall take the step~ specifi•=d in the second paragraph of
paragraph 17.
14. tiotices. An}~ notice to Borrow~er pro~~ided for in this Securit~~ Instrument shall be gi~en b~ delivering it or b}~
mailing it b~• first rlass mai! unless applicable law~ requires use of another rnethod. The notice shall be directed to the
Property~ Addre~s or an}~ other address Aorrow~er designates by notice to Lender. An}~ notice ro Lender shall be given b}~
( first class mait to Lender's address stated herein e~r any other address Lender designates b~~ notice to Borro~•er. An} notice
' pro~~ided for in this Securit} Instrument shall be deemed to ha~e been gi~en tc~ I3<~rr~w~er or Lender w~hen given as provided
~ in this paragraph.
15. Governing Law; Severabilit}•. This Serurit~ Intitrument tihall be gu~erned b}~ federal law and the laa~ of the
i jurisdiction in w•hich the Property~ is located. In the e~~ent that an~ pro~~ision or clause of this Security In~trument or the
~ tiote conflicts with ap~licabie la~ti~, such conflict st-iall not affect other prcnisions of thiti Securit}• Instrument or the Note
~ whinc ~an be gi~~en effect w~ithout the conflicting prrn~ision. To this end the provisions of this Security Inttrument ar.d the
6 tiote are declared to be sevcrable.
~ 16. Borrower's Copy. Borrower shall be gi~~en ~me confo.-meti cop}~ af ihe tiote and of this Security Instrument.
~ 17. Transfer of the Property or a Beneficial Interest in Borrower. If all ~r an~ part of the Property or any
~ interest in it is sold or transferred (or if a beneficial intere~t in Borrow~er is sold ~r transferred and Borrow•er is not a natural
person) without Lender's prior written consent. Lender may, at its uptian, require immediate payment in full of all sums
secured by this S~~.:urity Instrument. Hawe~er, this option ~hal! not be exer~ised b}~ Lender if exercise is prohibited b}~
federal law~ as of the date of this Securit~~ Instrument.
If Lender exercises this option, Lender shail give Borrower notice of accelerati~n. The notice shall pro~ ide a period
of not less than 30 da}~s from the date the notice is delivered or mailed within w~hich I3~rrower must pa}~ all sums secured b}~
this Securit}~ Instrument. If Borrower fails to pa}• these sums prior to the expiration of this period, Lender ma}~ in~~oke any
remedieti permitted b}~ this Securit}~ Instrument w•ithaut further notice or demand cm Borraw~er.
18. Borrow~er's l2iRht to Reinstate. If Borrow~er meets certain conditi~ns, B~rrower shall ha~e the right to ha~~e
enforcement of rhis Securit}• Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other perioci as
applicable law may sper~fy for reinstatement) before sale of the Prc~pert}~ pursuant to any Fx~wer of sale contained in this
Secunt~ Instrument; c~r (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrow~er:
~ (a) pa~~s Lender all sums ~hich then wauld be due under this Securit}~ Instrument and the Note had no acceleration
oecurred; (b) cure, an} de(ault of an}' other covenants or agreements; (c) pays all expenses incurred in enforcing this
Securit}~ Instrument, inclu~ing, but not limited to, reasanable attorne}s' fees; and (d) takes such action as Lender may
~ reasonably reyuire t~ assure that the lien of this Security Instrument, Lender's nghts in the Property and Borrower's
` obligation to pa}~ the ~.ums secured by~ ihis Security Instrument shall continue unchanged. Lr'pon reinstatement by
Borrow~er, this Securit} Instrument and the obiigations secured hereby shall remain fuily effective as if no acceleration had
occurred. How eve~ , this ribht ta reinstate shall not apply~ in the case of acceleration under paragraphs 13 or 17.
~ooK fi75 F~ ~F ~BS~
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