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<br /> �.��� 1 10.Candemaatio�.The proceeds of any award or cleim for demagas,direct or consequanttal,in connection with any
<br /> .. ��� • condemnation or other taking of any part of the Property,ar for conveyance in lieu of condemnntion,ure heraby assigned
<br /> , ,,� and shall be paid to I.ender. -
<br /> � - In the event of a total taking ot the Property, the proceeda shall be applied ta the Rt►ms secured by thia Securlty
<br /> �' Instrument. whether or not then due,with any axcess paid to Borrower.In tha uvant of a partial taktng ot tho Property in
<br /> � tvhich the 4air market value of tha Property immediately betore tha teking ia equal to or greater than the amc�unt of the
<br /> . aums secured by thie Security Instrument immedietely betora the taking, unless Borrower and]..ender otherwi�agree in
<br /> '�''`•`� writing, thc�ume secured by thle Security Instrument Ahall be reduced by the amount�f the proce.eda multiplied by tho
<br /> �' {ollo�ving frrictinn:(e)tha totel emount of the euma securer]tmmediately before the tuking,divided hy(U)tho fuir mnrkat
<br /> a;s.:�_ valun uf the I'ru rty immediately beforo thtl teking.Any belencn ghetl ba paid to Horrower.In tho ovent of a{u�rtinl taking '
<br /> �.j'� uf►.hn�'ru�erty n which tha fair market value o}tho Prc�perty immedietely l+efora the taking iA las9 than the amc�unt of thn
<br /> ..�� sume�LCUrrd immedistoly befotn the tuking,unles.v���rrnwer and IxnJer othr�rwis�agree in �vriting or unl�s epplicuhln
<br />•�- lew ��th�rwisn pr�rvid�v, tha pruceedR ehall be epplied to tha eume r,�cured by this Security Inst�ument whether ur nut thc
<br /> ,ums are then dua.
<br /> ->»• It thn Pru�rty iti ubandnned by llorrower, or if, atter notice by I.ender to Borrawer that the condemnor oftere w
<br /> ;,,,t� � makc an awnrd or hCttlC a�1nim fur demagcs,Aorrower fnila ta respond to I.ender within 30 day�after the dete the notica
<br /> ;-^ti�� in given,l.ender is auth�rized to collect and upply the proceeds,at ita option,eithec to restoratian or rapair otthe Property
<br /> �- or to tha sums su;ured by this Securlty Instrument,whether or not then due.
<br /> '`"'�� Unlesss I.ender and Barcowar atherwise agree in writing,any application ot proceeds to prinoipal shaU not extend or
<br />_«��'� pastpone tha dua date of tha manthly pnymente referred to in paragraphs 1 and 2 or change tha amount of such payments.
<br /> -- l l. Borrower Not Released; Forbearance Hy Lender Not • Walver. Extens�on of the time for payment or
<br />-� moditication of amartization of the sums secured by this Security Instrument granted by Lender to any successor in
<br />�r;��� intcrtst of Borrower shall not operate t�release the liebility of tha original Borrower or Borrower's auccessors in interest.
<br /> -•.»�_�� Lender shall not b�required to commence proceedings againat any successor in interest or refuse to extend time for
<br /> payment or otherwiss modify amortization of the sums secured by this Security Instrument by reason ot any demand
<br /> ��� ,made by the original8onower or Borrower's successora in interest. Any forbearance by Lender in exercising any right or
<br /> ----- remedy shall not be a waiver of or preclude the eaercise of any right or remedy.
<br />:;;;;.�� 12.S uccessors�nd Assigns Bound; Joint and Several Liab�lity; Co-aigaers.The covenants and agreementa of
<br /> - this Security Instrument shall bind and benefit the successors and assigns of Lender and Bonower, subject to the
<br />--a��. provisions ot paragraph 17. Borrowar's covenanta and a�reements shall be Joint nnd several. Any Borrower who co-signs
<br /> _ this Security Instrurnent but does not execute the Note: (e)is co'signing this Security Instrument otily to moctgage,gcant
<br />--- - and convey that Borrower's interest in the Property under the terms of thia Security Instrument; (b) is not personally
<br />°�'-= obligated to pay the sums secured by this Security Instrument;and (c)agrces that I.ender and any othar Bonower mny
<br /> � agree to extend,modity�forbear or make any accommodations with regard to the tarms ot this SecurIty Instrument or the
<br /> !�!Q*_e withoa!t�nt Rom�wer's consent.
<br /> 13. Loin Char��s. If the loan secured by thiA Security Instrumont ia subject to e law which sets rnaximum loan
<br /> charges, and that law is tinally interpreted so that the interest ar other loan charges collected or to be collected in
<br /> connection with the loan excced tha permitted limits, then: (a) any such laan oharge shall be reduced by tha amuunt
<br /> necessary to reduce the charge to the permitted limit;and (b)any sums already collected trom Borrower which exceeded
<br /> permitted limits will be refunded to Bonowar. Lender may choose to make this refund by reducing the principal owed
<br /> under the Noto or Uy making a ditect payment to Borrower.If a refund reduces principat,the reduction will be treated as a
<br /> partial prepayment without any prepayment charge under the Note.
<br /> 14.Notices. Any notice to Borrower provided for in this Sxurtty Instrument shall be gtven by delivering it or by
<br /> mailing it by tirst class mail unless applicable law roquires use of another method.The notica shnll be directad to the
<br /> Property Address or eny other eddress Borrower designates by notice W Lender. Any notice to I.ender shall be givon by
<br /> tirat class mail to L.ender's addrresss stated hcroin or any other address Lender designates by notice to Borrower. My notice
<br /> provided tor in thia Security Instrument shall be deemed to have been given to Borrower or Lendor when given sa
<br /> provided i n this paragraph.
<br /> 15. Govornint Law; Sevorability. This Sxurity Instrument ahell ba governed by federal law and the law ot the
<br /> jurisdiction in which the Property ie la:ated.In the event thet any provision or clause of this Security Instrument or the
<br /> Note confticts with epplicable law,auch conflict ehall not aftect other provisions of this Secority Instrument or the Note
<br /> which can be gtven etteat without the contlicting provision.To this end the provisions ot thls Security Inatrument and thn
<br /> Note are declared to be severable.
<br /> 16.BorROwer'e Copy.Borrower ahall be given one conformed copy of the Note and of this Sxurity Instrument,
<br /> 17. Trinsier ot tbe Property or a Ben�ficial Interest in Bonowor. If ell or any pact oi tho Property or any
<br /> interest in it is sold or transierred (or if a b�neficial interest in Borrower is sold or transterred and Borrower is not a
<br /> natural person)without I.endar's prior written consent,Lender may,at its option,requiro immediate payment in tull of tll
<br /> sums secured by this Security Instrumont. However,thia option shall not be oxerc�sed by Lender if exercise is prohibited
<br /> by fedetel law as of the date of this Security Instrument.
<br /> Pnge�ot 6 Porm S02i 9140
<br /> -�-'- -�' CMORT4•/N�CMT4 96?4060
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