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<br /> . .� condernnarion or other t�king of any part of the Ptopeny.or far conveyance in liea of wndemnation.�e hereby assigned and
<br /> , shaU be Qaid co Lendec. ��
<br /> 1a the event of a total taking of the Pcoperty the p�cecds shall be applied to che sums secured by chis Security :
<br /> .`.. �,��"� Instnunent,whether or not then due.with any excess paid w Botrawer. In the event of a partial taking of the Ftoperty in
<br /> � . which thc fair ma�cet vatue of tt�e Pro�imin�iatciy 6efare tt�tshing is equal to or greates than the amonat of t!►e sums _ _
<br /> �.� :. ' `� secuted by this Securiry Insttument immediately�efore the taking.untess Horrawer and Lcnder otherwise agrce in writing. .
<br /> V., `�.' � .�' the sums secured by this Seciuiry[nsdume�►t shall be reduced by the s�mount of the praceeds multipiied by the following
<br /> . • f�ctioa: (a}the total amaunt of the sums secured immediately before the takin�.divided by tb)the fau mar[cet vatue of the
<br /> ` Qt,uperty imm�iately beforc the taking. Any balartce shall be paid to Botrower. In the event of a partial ta)sing of thc • ���.`
<br /> . .• Pmpelty in whicb the fafr madcet vaiue of the Prope�ty immediatsty befose the taking is Iess thaa the amount af d►e sums -
<br /> secu�ed unmediately 6efore the tatc�g.anless Bouower and Lender otheswise agree in writing as unte�s aPPlicabte law
<br /> , , ot6erwise prnvides,the prnceeds sba116e applied to the suras secused by this Secutity Instrwnent wtiether or aot the sums aEe ,
<br /> .. , � the[�due. • ' :
<br /> ' .�` [f the Pmperty is abaudoned by Borrower.or if.after nodce by Lender to Bairower that the condemnor offers co make
<br /> - . ."'�;_;: an award or seule a claim for damages.Bormwer fails w mspond to I.ender within 30 days after ttte date the notice is givc►�. ''�.:
<br /> � � � � Lender is aathorized to collect and apply the proceeds.at its option.either to restorntion or tepair of�the Propercy or to the �
<br /> , � " sums secu�ed by this Securiry lnstnunea�wbether or not thea due. -
<br /> � � � Unless Leuder and Bosower otherwise agree in writing.anY aPPiication of proceeds ta princepal shall aot extend ur �-•
<br /> - �� � �`` pastpone the due date of the monthIy payments refemed to in paragraphs 1 aad 2 or chaage d►e amount of such payments.
<br /> �' �'�� 11. Bono�ver Nmt Retease�; Eorbearanoe By Lender PioB a Waiver. Extension of the 6�ne for payment or
<br /> __ -`;::�"��� modifrr�ation of amard¢arian af the sums secvred by this Security Ins-uument granrted by I.eader to any sucxessor in interest - -
<br /> ga
<br /> of Hormwer shall not opezate to telease the liability af the original Boirawer or Bomuwerk successors in interesG I.ender
<br /> _�� �.-i. shall aat be zequind to c�uunence pr4ceedings aP,a�nst anY sucoessor ia interest or refuse m extertd wne for payment or
<br />;'�;�`�' � � � othetwise modify amortizatian of the sams secured by this Sec�mty Instrmnent by reason of any demaad made by the ariginat , ,
<br /> . .• : :�,�` �, Bormwer or Bflrrower�s successors in mtere�- Any forbearatice by Leader iw exercising any right or cemedy shafl not be a
<br /> .,:_r�:�;v �.. waiver af or preciude the exercise of any right or remedy.
<br /> ;.�,„� . , - IZ. Suoeessors arc�A.siigns Bouad;Joiat and Sevesa!Ltabiltt9;Co��gners.Tlte covenants aad agreemems af this --
<br /> . �. ` Security Insmiment shall�ind and benefit the successo�s and ass'sgns of I.ender and Borrower.subject to the provisions of
<br />- � ` � .? paragrapb 17.Honower's covenaucs and agreements shall be jomt and severat.Any Bomower who co-sigas this Security
<br /> ,:', %;_�," � Inshvment Q�ut does not eue�ut�the Note: (a)is sasigning this Sec�uity I�►ent onty to tnortgage,grant and canvey tLat _
<br /> sM`;= ; Botrower's�s�est In the Praperty under the terms of this Security Enstrumeqx (b)Is not�ersonally obUgated to pay the sums
<br /> ' :,: �1'' that lxader aad�av ather Borrower may agroe to exte�d,modify.forbear
<br />__ ��,uy. .: secured bp�Secarity lnswmenk and(c)agrees
<br /> • • . • or make a�ac:commodations wit1�*eSard to the terms of this S�uity Inswment or the ho� witliout tl�at Boirower's -
<br /> � consent �
<br /> � 13. Lo2n C6a� �f ttie loan secfaed by this Security L�sLmment is subiect to a!aw which sets maaimum loan -
<br /> .„ .. •�� > charges,and that law'ss�y interp�ted so that the'smrest or other loan charges collected or to be oo}Iected'n��connection ,,�
<br /> with the Iom exoeed tY.e�mnitted limits,dien: (a)ariy such loan c6arge shaU be reduced by thc amount necessary W reiWce �• �
<br /> •• :'$ the charge w the pemutted]imi�aad(6)any sums aheady collected from Bomnwer w{ueh exceeded pemutted limit�will be
<br /> � •.. , �,r� :•� refimded to Barrower. l.�der may choose to make this iefund by reducing the ptincipal owed under the I�ote or by making a , �;��.-
<br /> � �� s , direct payment to Bomnv�r. If a refiu►d reduces priffcipal.the reduction will be ueated as a partial piepayinent a+tthout any _
<br /> ' .. • . �! , prepayment chasge under tlie Note.
<br />-. ' ' ` ' 14. Noticc9. My notice to Bamnwer provided for in this Security Inswment shall be given by deiivering it or by
<br /> ♦-��.' , . �� mailmg a{yg.�irst class mail unless aFpii,�ble law tequires use of another methocl.The notice sha11 be directed to the Properc�r ' � �;_
<br /> ` �St y; � Address r.P w*ny other address Horro�!�ciesignates by nouce to Lerr:de�r. My no6ce to Lender s�al}be given by fust elass
<br /> F., ` msii to Lender§address stated he�ein rh�y ot6er address l.ender desgnazes by notice to Borcou-er. Any notice provided for [ .. _
<br /> '�: "�:4�.,; � r-
<br /> ..' : � �r this Security Instrum�rt sha11 be deemed to have Qseen given to Boaower or Lender when givea as pmvlded in tius
<br /> , •.�� •: .
<br /> •�:.. � .. �.. S � . P�Ph. �• :�.;
<br /> �' '�'• IS. Goveraing Law;SeverabilJtq. 'I�is Security Inswmeat shall be �uv�ed by federal law an�ti�e law of the
<br /> . . ,;�-.' :r;
<br />- . . • jurisdiction in which the P�uperty is located In the event that any prorision or clause of this Seair»ty Ins�ument ot the Note •_
<br />= � � wnflicts witi�appiicab2e law,sach wnflict shall not affect other pmvisions of this Securiry lnswment or the Note wtich can �F:.�
<br /> � be ven effect without the wnflicting provision. To this end the ymvisions of.this Security Instrument and the Note are ;A�,..:
<br />- .w. ' dec�ued w be sevetaDte. !;`�:��
<br /> • � • . . I6. Sorrowet's Copy. Bomuwer shaU be gio�ar c�e conformed copy of titc I�iote and of ehis Securiry i�ment � �`
<br /> - • . . �• � 17. �1*aasfer oP t6e I�roperty or a Seneflcla7�:Prest in�ac�wer. If a61 or any pan of the Property eg any interest in
<br /> � it is sold ar vansfeaed(or if a 6enefia��J interest in Borrower�s ydid or transfemd and Bormwer is not a nawral peison)
<br /> � without Lenrler's prior wretten consene.Lender may.at its option,require.immedlate payment m,full of all sums secumd by
<br /> - �� • . this gectuiry lnstrumeat liowever.this op6on shall not be eaercised by Lender if exercise is prohibited by federal law as of �
<br /> '. ' �� • the date of this Secmiry Ir�..Knumen� `�` :
<br /> � If Lender eae�ises this option.Lender shall give Borrower notice of accel�ion. 71ie nodce shall pn�vide a period of •
<br /> � � ' not Iess thaa 30 days from the date the notice is delive�d or maiied within which Barrower�rru..�pay all sums secuted by this
<br /> ' � . � . � Sec�uiry tnsttument If Bamower fails to pay these sums prior to the eapiradon of this pesf+od, Lender may invoke sny
<br /> ' remedies pemritted by this Security lnswment without further notice or demand on Borrower. �
<br /> •• � , � l�. Borrower's �Gt to Itetmtate. If Borrotiver meets certain condirions.Bmrawer shall have the right to have
<br /> ' . - enforcement of this 3ecurity Instrument discontinue�at any time prior to the earlier of: (a)5 days(or s�cfi�other pe�imd as '
<br /> � . • � , Single Farnify—Fannie Mae/iYeQdie Mac UNIFOItM INSTRIJMEI�P1'»Unifoim Covenantv 9/4� {poge 4 oj6 pag«I
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