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!t l.~n~ier rcyt:~re~l nu,r!gsgr ~ntiurance ati ~s ~~n~i~ntm ~~f making the luan ,r~ured b~ thi~ Sr~urit~ In,trumrnt, I'
fi~~rn,~~rr .hall ~:i~ thz rremium, rcyuired tu maintain the insuran~e in effe~t until surh timr .i~ thr reyuirrment fur thr i
in.ur;~nrr trrniinatc~ in accureiancc w ith f3orrower's and Lendrr's written agreement or applirahlr I,iN. j
K. Inspection. Lrsi~ler ~~r it, agent ma~ make reasonable rntries u~m ;~nd in~pc;cti~sns c~f the Pmperh. l.rndrr '
~hafl ~;i~ ~ Burn~~~rr n~~ure at thc t~mr e~Cor prior t<~ an inspe.tion sperif~~ing reasunable rau~e f~~r thr ins~~ti~m.
9. Condemnation. ~The ~nxrr~i, ot an~ award ur claim fur dam3gc~, direct or ron~eyuential, in ranne~ti~~n ~?ith
.in~ ~un.irmnanun ~~r ~~tner taking ~~f an~ part ~,f the Property, or for run~e~ance in lieu of rundemnation, are herehy
:i,.ign~~ and.h:,ll br paid tu 1_rnder. li
In thr e~ent ~~t~ a t~~tsl taking af the Yro~ert~~, the pnxeeds shall be applied to thc sums serured b}~ this Serurity '
ln,trumrnt, ~?hrther or nat then due, with an~ exress paid to Borrow~er. In the e~~ent of a partial taking of the Yru~rt~, '
unl~,s I3urn»cer and Lender utherH•ise ~gree in w~riting, the sums secured b}~ this Securit~~ Instrument sh~ll be reduced b} '
the amount of the pnxeeds multiplied b~~ the following fraction: (a) the total amount of thr sums secu:e(~ Illlfllt(~I~I~~~'
hef~~re the taking, di~ ided by (b) the ~air market ~~alue of the Property immedi~tel~~ befiue the taking. An}~ halan~e shalf lx: ~
paid t~~ f3orruw~er.
If the Property is ab3ndoned by Borrower, or if, after notice by I_ender to Borrc~w•er that the condemnor offers to
make an a~?ar~i or settle a claim for damages, Borrow~er fails to respond to Lender w~ithin 30 days after the date the notice is
~:i~ en, I_ender is authorized to collect and appl~• the proceeds, at its option, either to cc~toration or repair i~f the Yropert}~ or
tu the ~um~ «rured h}• thi. Cect~rit}~ lnstr~!!r_ent, whether or no2 then due. '
L?nlc~s Lender and Borro~~•er otherwise agree in w°riting, any applieation of prckeeds to prinripal shall not extend or I
Ex~~tpone the due date af the monthiy pa}•ments referred to in paragraphs 1 and 2 or change th: amount of surh pa}ments. i
10. Borrower \ot Released; Forbearance By Lender Not a 1~'aiver. Extension of the time for pa}•ment or I
modifiratic~n of amortization of the sums secured by this Security Instrument granted by Lender to any successor in I
interest of Borrow~er shall not operate to release the liability of the original Borrower or Borrow•er's successors in interest. ~
Lender shall not be required to commence proceedings against an}• successar in interc~t or refuse to extend time for
pa~~ment or othen~~ise modif~~ amortization of the sums secured by this Security Instrument by reason of an}~ demand made
- b}~ the original Borrow•er or Borrower'~ successors in interest. An}• forbearance by Lender in exercising an}• right or remed}~ '
,hall not be a w~aiver of or preclude the exercise of any right or remedy.
11. Succe.ssors and Assigns Bound; Joint and Several Liability~; Co-signers. The covenants and agreements of
this Security Instrument shall bind and benzfit the successors and assigns of Lender and Barrow~er, subject to the provisions
e~f par~graph 17. Borraw~er's covenants and agreements shall be jo~nt and several. An}• Bormwer who co-signs this Security
~ In,trument but doc:s not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and cunve~~
that Borrow~er's interest in the Property under the terms of this Security Instrument; (b) is not personallp obligated to pa~•
the sums secured b}• this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend,
mociif}~, forbear or make any accommodations with regard ro the terms of this Security Instrument or the Note w~ithout
that Borrow•er'sconsent.
12. I.oan Charges. If the loan secured by this Securit}~ Instrument is subject to a law which sets maximum loan
rharges, and that law~ is finally interpreted so that the interest or other loan charges collected or ro be colfected in
~onnertion w~ith the loan exceed the permitted limits, then: (a) any such loan charge sha{I be reduced by the amaunt
necessar}~ to reduce the charge to the permitted limit; and (b) any sums already collected from Borrow~er w~hich exceeded
'i permitted limits u~ill be refunded to Borrower. Lender may chcwse to make this refund by reducing the principal ow•ed
I under the Note or by making a direct payment to Borrower. If a rei'und reduces principal, the reduction will be treated as a '
~ partial prepayment without any prepayment charge under the Note. '
~ 13. I.egislation Afteeting Lender's Rights. If enactment or expiration of applicable laws has the effert of
! rcndering an~~ pro~~ision of the ~iote or this Security Instrument unenforceable according to it~ terms, Lender. at its option,
` ma~ reyuire immediate pa}~meni in full of all sums secured by this Security Instrument and ma~~ in~~oke any remedies
~ ~ermitted b~~ paragraph 19. If Lender exercises this option, Lender shall take the ste~s specified in the second paragraph of
~ paragraph 17.
14. lotiees. An}• notice to Borro~~er provided for in this Security Instrument shall be given by delivering it or b~~
mailing it b}~ first class mail unless applicable law~ requires use of another method. The notice shall be directed to the
~ Pro~erty Address or an}~ other address Borrower designates by notice to Lender. Any notice to Lender shall be gi~~en b~~
~ first class mail to Lender's address stated herein or any other address Lender designates b}~ notice to Burrawer. An}~ notice
~ pru~ ided for in this Securit}~ Instrument shall be deemed to have been given to Borrower or Lender when gi~~en as pro~ ided
in this paragraph.
€ 15. Governing Law; Severability~. This Securit}~ Instrument shall be go~~erned by federal law~ and the law of the
~ jurisdiction in which the Property is la;ated. In the event that any provision or clause of this Security~ Instrument or the
~ \ote conflicts w~ith applicable laa~, such conflict shall not afiect c~ther provisions of this Securit}~ Instrument or th~ N~~te
~ «hinc ~an bc gi~en c~fTect w~ithout the conflicting pro~ision. T~ this end the pro~~isionti ~f this Serurit}~ Instrument and the
~ote are declared to be se~~erable.
~ 15. Borrower's Cop}~. Borrow~er shall be gi~en one ronfe~rmed co~~ ~~f the Ncite .ind c~f thi~ Serunt~ Intitrument.
~ 17. Transfer of the Property or a Beneficial Interest in BorroKer. If all ~~r an~ ~art c~f the Yru~ert~~ ~r an}~
~ interz`t in it iti 4old or tran~ferred (or if a beneficial interest in Be~rre~wer is ~c~ld ar trantiferred and B~~rrc~wer iti iic~t a natural
& ~ertiem) withc~ut Lender's ~rior w~ritten consent, Lender ma~, at it~ option, reywre immediate paymem in full c~f all tiurns
~ .erured b~ this Securit~~ Instrument. Hc~w~ever, this opticro shall nc~r he exercised h} [.erider if exerrise iti ~,re~hibited b~
(ed.ral lati ~ti c~f the date of this Security~ Instrument.
[f Lcnder exercises thiti option, Lender shall gi~e B~rmwer ne~hcr c~f :?cceleraticm. The nc~tice tihall ~r~~ci;.te a~eric~ci
~~f n~~~ le~ti than 30 da~ ti fmm the date the n~tice i~ deli~ercd e~r m~~led N ith~n u hich Bc~rre~wrr mu~t ~+a} :~Il sum~ tierured b}
thiti Sr~unt~ Intitrument. If B~rre:~~er failt t~~ these sum. ~nc~r t~~ thr expiratio~ ~~f thi~ ~eric~d, l.ender ma} ~n~i~ke an}
r~rnrdie~ rermitted h~ thiti Serurit}~ Intitrumcnt with~ut further n<~tire c~r demand on E3c~rrc~wer.
18. Borrower's RiRht to Reinstate. !f F3e~rmNCr meetti certain ronditi~~s. B~rru~~er tihal: h~s~r the nght te~ ha~e
~nfc~rcemrm ~,f thit Seruritc lnstrument di~c~ntinued at an~ time ~rior to the earlier ~~f: S~J~i~~ (e~r tiurh e~ther reric~d a.
; .~E~~Grahlr laa m~~ ti~~er~f~ fcir reintitatement) befc~re tiale of the Propert~ ~urtiuant tc~ an~~ ~i~wer c~f salr rc~ntaini~i in thi~
~ Serurit~ Imtrument: iir (h? entr} <~f a judgment enfnrcing [h~ti Securit} In~trument. Thcne rcmdiucm~ arr that 13~~rr~~~cer:
~ (a) ~a~. l.rncler all ~um~ ~~hirh then w~ou~d be due under this Securit}~ Instrument and the ti~i~e had n~ ~ccefrranc~n
p u~~urrrd: Ih? rur~; an~ default an~ other c~n•enants or agreerrients: (r) pa}ti all c1Fxn~e, incurred tn enfi~rrin~ thi~
~ Serunt~ In~trument. inrludin~, hut nnt limited t~~, reau~nable att~rne}~' feeti; and Id) take~ ti~ch arti~m ati l.ender ~na~
~ r~a,~mahl~ r~yuirr t~~ a~wre that thr lien <~f thiti Serurit~~ Intitrument. Lender'ti nght~ in the Prc~~~n~ and f3i~rn~tir~'.
~ ~~hlig:it~~,n t„ ra~ thr ~um~ ~e~ured h~ th~ti Secunt~ Intitrument tih.ill c~~nlinur tm.•han~ed l'r;,n reiti~latement h~
i;~~rr~~~~rr. thi. Se~ urit~ li~~trument and the c~hhgation~ ~ecurr~i herrh~ tihall r~mam full~ rtTr~tn~ a~ it n~~ a~~elera[ic~n hael
~,~~urr~ci H~~~~c~~•r. thi~ rieht te~ ~em~tate ~hall ni~t ar~l~ in the ~,~ti~ ~~(acc~lrrati~,n u~ief~•r rara~r:~nh~ i Z ~~r 1'
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