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2 0�20�3��
<br />In the event of a total taking, deslruction, or loss in value of the Property, the Miscellaneous Proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to
<br />Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the
<br />Properiy immediately before the partial taking, destruction, or loss in value is equal W or greater than the amount of the
<br />sums secured by this SecurIty Instrument immediately before the partial taking, destruction, or loss in value, unle.ss
<br />Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument sha11 be reduced by the
<br />amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured
<br />immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property
<br />immediately before the pertial taking, destruction, or loss in value. Any balance shall be paid to Borrower.
<br />In the event of a partial taking, desU�uction, or loss in value of the Properly in which the fair market value of the
<br />Property immediately before the parktal taking, destruction, or loss in value is less than the amount of the sums secured
<br />immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender othervvise agree in
<br />writin�, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the
<br />sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as
<br />defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender
<br />within 30 days after the date the notice is given, Lender is authorized to c�llect and apply the Miscellaneous Proceeds
<br />either to restoration or repair of the Property or to the sums secured by this Security Instivment, whether or not then due.
<br />"Opposing Party" means the third pariy that owes Borrower Miscellaneous Proceeds or the party against whom Bonower
<br />has a right of action in regard to Miscellaneous Proceeds.
<br />Borrower sha11 be in default if any action or proceeding, whether civil or eriminal, is begun that, in Lender's
<br />judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or
<br />rights under this Security Instrument Borrower c�n cure such a default and, if acceleration has occurred, reinsta.te as
<br />provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgmeat,
<br />precludes forfeiture of the Property or other material impaiiment of Lender's interest in the Property or rights under this
<br />Security Instrument The proceeds of any award or claim for damages that are attributable to the impairment of Lender's
<br />interest in the Property are hereby assigned and shall be paid to Lender.
<br />All Miscellan�us Proceeds that are not applied to restoration or repair of the Property sha11 be applied in the order
<br />provided for in Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Walver. Extension of the time for payment or
<br />modification of amortlzation of the sums secwed by this Security Instrument granted by Lender to Borrower or any
<br />Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of
<br />Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to
<br />refuse to extend time for payment or otherwise modify amortization of the stuns secured by this Security Instrument by
<br />reason of any demand made by the ori�inal Borrower or any Successors in Interest of Borrower. Any forbearance by
<br />Lender in exercising any ri�ht or remedy includin�, without limitation, Lender's acceptance of payments from third
<br />persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver
<br />of or preclude the exercise of any right or remedy.
<br />13. Joint and Several Liabflity; Co-signers; Successors and Assigns Bonnd. Borrower covenants and agrees that
<br />Borrower's obligations and liabllity sha11 be Joint and several. However, any Bonower who co-signs this Security
<br />Instrument but does not execute the Note (a "co-signer"): (a) is co-signin� this Security Instrument only to mortgage,
<br />grant and convey the co-signer's interest in the Property under the terms of this Sec�mty Instrument; (b) is not personally
<br />obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Bonower can
<br />agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the
<br />Note without the co-signer's consen�
<br />Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obli�ations
<br />under this Security Instivment in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits
<br />under this Security Instrumen� Borrower shall not be released from Borrower's obligations and liability under this
<br />Famtly-Fannle Mae/Freddie Mac UWIFORM INSTRUMENT
<br />Page 8 of 12
<br />ios. ine, Borrower(s)
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