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� . � 201500327 '
<br /> , . In the event of a total ta.king, destruction, 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 Ioss in value of the Property in which the fair market value of
<br /> the Property immediately before the partial taking, destruction, or loss in value is equal ta or greater than the amount
<br /> of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in vaIue,
<br /> unless Borrower and Lender otherwise aj,aree in writin;,the sums secured by this Security Instrument shall be reduced
<br /> by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a)the total amount of the sums
<br /> secured immediately before the partial taking, destrucrion, or loss in value divided by(b)the fair market value of the
<br /> Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Bonower.
<br /> In the event of a partial takin�, destruction, or loss in vaiue of the Properiy in which the fair market value of
<br /> the Property immediately before the partial taking, destruction, or Ioss in value is less than the amount of the sums
<br /> secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise
<br /> agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether
<br /> or not the sums are then due.
<br /> Zf the Property is abandoned by Bonower,or if, after notice by Lender to Borrower that the Opposing Party(as
<br /> defined in the neact sentence) offers to make an award to settle a claim for damages, Borrorver fails to respond to
<br /> Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous
<br /> Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether
<br /> or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party
<br /> against whom Bonower has a right of action in regard to Miscellaneous Proceeds.
<br /> Borrower shall be in default if any action or proceeding, whether civil or criminal, is b�mui that, in Lender's
<br /> judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property
<br /> or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred,reinstate
<br /> as provided in Section 18, by causing the action or proceeding to be dismissed with a ruling that, in Lender's
<br /> judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Properiy or
<br /> rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the
<br /> impairment of Lender`s interest in the Property aze hereby assi�ed and shall be paid to Lender.
<br /> All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the
<br /> order provided for in Section 2.
<br /> 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br /> modification of amortization of the sums secured 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
<br /> of Borrower. Lender shall not be required to commence proceedin�s a�ainst any Successor in Interest of Borrower
<br /> or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security
<br /> Instrument by reason of any demand made by the or jainal Borrower or any Successors in Interest of Bonower. Any
<br /> forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of
<br /> payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then
<br /> due, shall not be a waiver of or preclude the exercise of any ri�ht or remedy.
<br /> 12. Joint and Several Liability; Go-signers;Successors and A.ssigns Bound. Borrower covenants and a�ees
<br /> that Borrower's obligations and liability shall be joint and several. However,any Borrower wha co-signs this Security
<br /> Instrument but does not execute the Note(a"co-signer"): (a)is co-si�ing this Security Instrument only to mortgage,
<br /> grant and convey the co-signer's interest in the Property under the terms of this Security Instrument; (b) is not
<br /> personally obligated to pay the sums secured by tlus Security Instrument; and(c)agrees that Lender and any other
<br /> Borrower can agree to extend,modify, forbear or make any accommodations with regazd to the terms of this Security
<br /> Insirument or the Note without the co-signer's consent.
<br /> Subject ta the provisions of Section 17, any Successor in Interest of Bonower who assumes Borrower`s
<br /> obligations under this Security Instrument in writing, and is approved by Lender,shall obtain all of Borrower's rights '
<br /> and benefits under this Security Instrument. Bonower shall not be released from Bonower's obligations and liability '
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