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<br /> 97��145�/� LOAN NO. 1 5 3 9 2 1 7 2 6 5 �
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<br /> 1Q.Condemn�tion. The proceeds oi any award or clalm for dama�es,dlrect or coneaquentlal,In connectlon with
<br /> Any candemnatlon or other taking ot any part of thA PrAperty,or far conveyance In Ileu o(condemnation,are hareby
<br /> , } asslgned and shall be pald to Lender. .
<br /> ' In the event oi a total taking ot the Property,the proceetls shall be applled to the suma secured by this Securlty
<br /> .�'""'1 Instrument,whether or not then due,with eny excess paid to Borrower.In the event of a partlal taking of the Praperty In
<br /> �•�•^•�' which the falr market valua of the PropeRy Immediat�ly bdtore the taking Is equal to or greater than the amount of tho "-
<br /> • suma securod by thls Security Instrument Immedlately before the teking,unless Borrower and Lender otherwise agree In ��'___.
<br /> � writing,the sums secured by thla Security Instrument ahall be reduced by the amount of the procesds multiplled by the _
<br /> followlnfl iractlon:(a)the total amount of the sums secured Immedlately before the taking,dtvided by(b)the falr market
<br /> value of the Property immedlately betore the taking.Any balence shall be pald to Borrower.In the ovent of a partial �_G?_
<br /> taking of the Property In which the fatr market value of the Property immediately before the taking Is less than the '
<br /> amount ot the suma secured Immediately before the taking,unless Borrower and Lender otherwlse a ree In writing or ,::
<br /> � unless applicable law otherwlse prwldes,the proceeds ahall be applled to the sums secured by thls�ecurity .i�
<br /> , Instrument whether or not the sums are then due. _
<br /> •`• If the Property Is abandoned by Sorrawer,or If,after notice by Lender to Borrower that the condemnor offers to
<br /> make an award or settle a claim tor damages,Borrower falls to respond to Lender within 30 days after the date the . �
<br /> �, notice Is given,l.ender is authorized to collect and apply the proceeds,at Its optlon,either to restoration or repalr of the -
<br /> Property or to the sums secured by this Security Instrument,whether or not then due.
<br /> Unless Lender and Borrower otherwise agree In writing,any applicatlon of proceeds to principal shall not Qxtend or
<br /> . postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such
<br /> payments.
<br /> 11.Bonower Not Released;Forbearence By Lender Not a Walver. Extenslon of the time for paymAnt or
<br /> mc�diflcatlon of amortfzatlon of the sums secured by thla Security Instrument granted by Lender to any sucaessor in -
<br /> Interest of Borrower shall not operate to release the Ilabllity of the original Borrower or Borrower's successors in
<br />� , Interest.Lender shali not be required to commence proceedings agalnst any successor in interest or refuse to extend -
<br /> :;� time for payment or otherwlse modlfy amortlzation of the sums secured by this Security Instrument by reason of any
<br /> - - dssnanci madc by the or4�lns!9orro:�:er or BQrrow�r's s!�crQ�r,r,�a�n�ntarACt.Any forbearance by Lender In exercislnq
<br /> any rlght or remedy shatl not be�walver of or preclude the exercise of any right or remedy.
<br /> 12.Succesaoro and Assigns Bound;Jo(nt end Several L.(ability;Casigners. The covenants and agreements of
<br /> this Securfty Instrumant shall bind and benefit the successors and ass�gns of Lender and Borrower,subJect to the
<br /> provislons of paragraph 17.Borrower's covenants and agreements shall be Jolnt and several.Any Borrower who
<br /> co-signs this Security Instrument but does not execute the Note:(a)Is co-slgning thls Securiry Instrument only to
<br /> mortgage,grant and convey that Borrower's Interost In the Property under the terms of thfs Securfty Instrument;(b)Is -
<br /> not personally obligated to pay the sums secured by this Security Instrument;and (c)agrees that Lender and any other =
<br />_ Borrower may agree to extend,modify,forbear or make any accommodatfons wlth rggard to the terms of this Security �:.
<br /> Instrument or the hlote wfthout that Borrower's consent. C'
<br /> 13.Loan Charges. If the loan secured by this Security Instrument is subJect to e!aw which sets maulmum loan �`
<br /> charges,and that law Is finally Interpreted so that the Interest or other loan char�es collected or to be collected(n �:'.
<br /> connection with the loan exceed the permitted Iimtts,then:(a)any such toan charye shall be reduced by the amount �_
<br /> necessary to reduca the charge to the permitted Iimft;and(b)any sums already collected from Bnrrower whlch �_
<br /> � exceeded permitted Ilmits will be refunded to Borrower.Lender may choose to make th�s refund by reducing the �,,
<br /> . principai owed under the Note or by making a dlrect payment to Borrower.If a refund reduces p►inclpal,the reductlon r-�
<br /> ' wlt{be treated as a partlal prepayment without any prepayment charge under the Note. �:
<br /> 14.Notices. Any notiCe to Borrower provfded for In this Security Instrument shail be glven by delivering it or b.y - _
<br /> � malling It by flrst class mall unless applicable law requfres use of another method.The notice shall be dlrected to the _
<br /> � � Properry Address or any othor address Borrower deslgnates by notice to Lender.Any notice to Lender shall be given
<br /> �� by first cless mail to Lender's address stated heretn or any other address Lender designates by notice to Borrower,Any
<br /> notice provlded for in thls Security Instrument shall be deemed to have been glven to Borrawer or Lender when c�lven
<br /> , as provided in this paragraph. _
<br /> 16.Governing Law;Severabitity. This Security Instrument shall be govorned by federal law and the law of the
<br /> lurisdiction In which the Property is lacated.In the event that eny provfsion or clause of this Security Instrument or the ' '�
<br /> Note conflicts wfth applicable law,such conflict shall noi affect other provislons of this 5ecurfty Instrument orthe Note _
<br /> which can be given effect without the confllcting provlsion.To thls end the provlsions of this Securfty I nstrument and the _—
<br /> . � Note are declared to be severable. - '
<br /> I 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Securfty Instrument. _�
<br /> � 17. Transfer of the Property or a Benetictal Interest In Borrowor. if ail Qr any part of the Property ar any
<br /> ! Interest In It is sold or transferred(or if a beneficlal Interest in Borrower Is sold or transferred and Borrower is not a
<br /> ' natural person)without Lender's prlor written consent, Lender may,at its option,require Immediate payment In full of ail
<br /> sums secured by this Security Instrument. However,thls optlon shall not be exerclsed by Lendor if exercise is
<br /> iprohibfted by fedoral law as of the date of this Security Instrument.
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