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2� 1 ��4�94
<br /> �n the e�ent of a��tal taking, destruction, or loss in�a�ue of the Property, the Miscellaneous Proceeds sha�l be
<br /> applied to the sums secured by this Security Instrumen�, whether or not then due, with the excess, if an}�, paid�o
<br /> Barrower.
<br /> In the e��nt af a partial taking, destruct�on, or �ass in �alue�f the Property in which the fair market value af
<br /> the Property i_mmedia�ely before the partial tiaking, destruction, or loss ain�a�ue is equal to or greater than the amount
<br /> of the sums secured by this Security Instrument unmedia�ely bef�re the partxal taking, destruc�ion, ar loss in�alue,
<br /> unless Borr�wer and Lender atherwise agree in writing,the sums secured by this Security Instrument sha11 be.reduced
<br /> by the amount of the Miscellaneous Pro�eeds multiip�ied by the fo�lovWing fraction: (a}the total amount of the sums
<br /> secured immediately before the partial taking, destruction, or l�ss in�alue di�ided by�b}the fair market�alue of the
<br /> Praperty immediately hefore�he partial taking, destruction, or loss in�alue. Any balance shall be paid to B�rrower.
<br /> In the e�ent of a partial taking, destru�tion, or �nss in�alue of�he Praperty in which the fa�r market value�f
<br /> �he Property immediately befare the partial taking, destructian, or l�ss in�alue is less than the amount of the sums
<br /> secured imm�diately before the partial taking, des�ructian, or �ass in �a1ue, unless Borr�wer and Lender otherwise
<br /> agree in writing, �he Miscellaneous ProGeeds shall be applied ta the sums secured by this Security�ns�rument whether
<br /> or not the sum s are then due.
<br /> If the Praperty is abandaned by Borrower,or if, after notice by Lender tQ Borrower�hat the�pposing Party�as
<br /> �efined in the next sentence� offers �a make an award to settle a c�airn for damages, Borrower fails to respond to
<br /> Lender with�n 3�days after the date the no��ce�s given, Lender is auth�rized ta collect and apply the Misce�laneous
<br /> Proceeds either to restora�ion or repair of the Fr�perty or �o the sums secured by this Security �nstrument, whether
<br /> or not then due. "�pposing Part}�" means the thir d party that av�es Bvrrower Mis�el�aneous Proceeds�r the party
<br /> against whom Barrovver has a righ�of acti�n in regard ta Miscellaneous Fraceeds.
<br /> Borrower shall be in defaul�if any act�on�r proceeding, whether ci�il ar crirn�nal, is begun that, in Lender's
<br /> judgment, could resuit in forfe��uY-e of the Prapert}r ar o�her material impairment�f Lender's interest in�he Property
<br /> or rights under�his 5ecurity Instrument. B�rrower can cure such a default and, if acceleration has oc�urred,re�nsta�e
<br /> as pro�ided in Sec�ion 18, by causing the act�vn ar prflceeding �o be dismissed vvi�h a ruling that, in Lender's
<br /> judgment, precludes forfeiture of�he Property or ather material impairment of Lender's�nterest in the Pr�perty or
<br /> rights under this Securitiy Instrument. The prQceeds of any award or claim for damages�hat are attributable to the
<br /> �mpa�rment of Lender's interest in the Prvperty are herehy ass�gned and shall be paid to Lender.
<br /> Al�Miscellaneous Pro�eeds that are not applied to restoratian or repair of the Property sha1�be applied in the
<br /> order pro�ided f�r in Section 2.
<br /> 11. Borrvwer Not Released; Forbearance By Lender Not a Wai�er. Ex�ension of the time for payment ar
<br /> modification of amortizatian of the sums secured by�his Secur�ty Tnstrumen�granted by Lender ta Borrower or any
<br /> Successor in Interest of Borrower sha11 nnt operate to release th� Iiahility of Borrower ar any Successflrs in Interest
<br /> of Borrawer. Lender shall not be required to commence proceedings against any Success�r in Interest of B�rrower
<br /> or to refus� to ex�end time for paymen� or a�herwise madify amortization of the sums secured by this 5ecurity
<br /> Instrument by reason of any demand mad�by the original Borravver or any Successors in Interest of Borrower. Any
<br /> forbearance by Lender in exerc�sing any rig,ht �r remedy inc�ud�ng, wi�hou� �imitation, Lender's acceptance of
<br /> payments from third persons, entit�e�or Successors in Interest�f Borrower or in amounts�ess than the amou.nt then
<br /> due, shall not be a wai�er of or preclude the exerc�se of any r�ght or remedy.
<br /> 12. Joint and Se�eral L�ab��ity; Co-signers; Su�cessars and AsSigas Bound. Borrow�r co�enants and agrees
<br /> that Borrower's o�liga�ions and liabi��ty sha1�be joint and se�eral.H�we�er,any Borrower wha cv�5]�C15��"I1S S�CLiTI�
<br /> Instrum�nt but does not execute the I�1ote�a"co-signer"}: (a}is co-signing this Securi�Instrument only t�mvrtgage,
<br /> grant and con�ey the co-signer's interest xn the Property under the terms of this Securx�y Instrument; �b} �s nat
<br /> personaily �bl.tgatied to pay the sums secured by this Security Ins�rument; and�c� agrees that Lender and any ather
<br /> Barr�wer can agree ta extend, modify, forbear or make any accommadations with regard ta the terms af�his Securi�y
<br /> Instrument ar the Note without the co- signer's consen�.
<br /> � Subj ect to the provisions of Sec��on �7, any Successor in Interest of B�rrvwer v►rha assumes Borrower's
<br /> obligations under this Security Instrument in writing, a�nd is appra�ed by Lender, shall abtain a11 of Barrawer's r�ghts
<br /> and benefits under this 5ecurity Instrument. Borrower shail not be re�eased firom Bvrrower's obligations and liability
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