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<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation
<br />or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument, whether
<br />or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property. unless Borrower and Lender otherwise
<br />1 ' agree in writing, the sutras secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following
<br />fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market value of the Property
<br />immediately before the taking. Any balance shall be paid to Borrower.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Condemnor offers to make an award
<br />or settle a claim for damages. Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized
<br />to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Security
<br />Instrument, whether or not then due.
<br />Unless Ienda and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the
<br />due date of the monthly payments referred to in. paragraphs l and 2 or change the amount of such payments.
<br />10. Borrower Not Relemed; Forbearance By ]tender Not a Waiver. Extension of the time. for payment or modification of amortization
<br />of the sums secured by this Security instrument, granted by Lender to any successor in interest of Borrower shall not operate to release
<br />the liability of the original Borrower or Borro%mes, successors in interest. Lender shall not be required to commence proceedings against
<br />any successor in interest or refuse to extend tfnie for payment or otherwise modify amortizatio of the sums secured by this Security
<br />Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender
<br />in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy.
<br />IL Suceetsom and Assigns Bound: Joint and.Several Liability; Co- signers. The covenants and agreements of this Security Instrument
<br />shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Borrower's covenants
<br />and agreements shall be joint and several. Any Borrower who co -signs this Security Instrument but does not execute the Note: (a) is
<br />co- signing this Security Instrument only to:mortgage, grant and convey that Borrower's interest in the Property under the terms of this;,.
<br />Security Instrument; (b) is not person_ ally. obligated to pay the sums secured by this Security Instrument; and (c) agrees that L nde.r.
<br />and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security
<br />Instrument or the Note without that Borrower's consent.
<br />IL lam Charges. If the loan secured by this-Security Instrument is subject to a law which sets maximum loan charges, and that
<br />law is finally interpreted so that the.intenest or other loan charges collected or to be collected in connection with the loan exceed the
<br />permitted limits, then: (a) any such• loan charge shall be reduced by the amount necessary to reduce the charge to the permitted lirm t;•
<br />and (b) any sums already collected - from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose
<br />to make this reftiud-by. reducing the . principal: gwed under the Note or by making a direct payment to Borrower. If a refund reduces
<br />principal, the reduction will be treat0d. as a partial prepayment without any prepayment charge under the Note.
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<br />of the Note or this Security Instrument unenforceable according to its terms, Lander, at its option, may require immediate payment
<br />in full of all sums secured by-this Security Instrument and may invoke any remedies permitted by paragraph 19. If Lender exercises
<br />this option, Leader shall take the steps specified in the second paragraph of paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first
<br />class mail-unless applicable law requires use of another method The notice shall be directed to the Property Address or any other ad-
<br />dress Borrower designates by notice to Lender. Any notice to lender shall be given by first class mail to Lender's address stated herein.
<br />or any other address Lauder designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed
<br />to have been given to Borrower or Lender when given as provided in this paragraph.
<br />15. Gow"ImS lxw; Se:ventbility. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which
<br />the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law,.
<br />such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting
<br />provision. 7b this end the provisions of this Security Instrument and the Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br />17. Tlraauder of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or
<br />transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior
<br />written consent, Lender may, at its option, require immediate payment in full of all sutras secured by this Security Instrument. However,
<br />this option shad not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument.
<br />If Lender exercises this option, Leader shall give Borrower notice of acceleration. The notice shall provide a period of not less than.
<br />30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument.
<br />If Borrower fails to pay these sums prior to the expiration of this period, Lender any invoke any remedies permitted by this Security
<br />Instrument without further notice or demand on Borrower.
<br />M Borrower's Right to Reinstate. If Lorrower meets certain conditions, Borrower shall ha%v the right to have enforcement of this
<br />Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify
<br />for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument; or (b) entry of a
<br />judgment enforcing this Security Instrument. Those conditions are that Borrower. (a) pays Lender all sums which then would be due
<br />under this Security Instrument and the Note had no acceleration occurred; (b) cures any default of any other covenants or agreements;
<br />(c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d)
<br />take such action as Lender may reasonably require to assure that the lien of this Security Instrument. Lender's rights in the Property
<br />and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower,
<br />this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However.
<br />this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17.
<br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />19. Acceleration. Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breac', of any covenant
<br />or agreement in this Security Instrument (but not prior to acceleration under paragraphs 13 and 17 unless applicable Im. provides other-
<br />wise). The notice shall specify: (a) the default; (b) the action required to cure the default: (c) a date. not less than 30 days from the
<br />date the notice is given to Borrower. by which the default roust be cured; and (d) that failure to cure the default on or before the date
<br />specified in the notice may result in acceleration of the sums secured by this gecurity Instrument and sale of the Propert). The notice
<br />Shatz turilter Inform Borro%tr of the right to rein :ate after acceleration and the right to bring a court artior to amert the non- evister!ce
<br />of a default or any other defense of Borrower to acceleration and sale. It the default is not cured on or before the date specified in
<br />the nook -e. tender at It,. option ma) require immediate payment in full of all sumK secured by thk %rcurity Inoromeni without further
<br />demand and may in%oLe the power of sale and an) other remedies permitted by applicable law. I&nder khull by entitled t►t culleet all
<br />e%pense+. incurred in pursuing the remedies provided in this paraxr-aph 19, including. but nut limited tu, reamunahk• atturne-: tee% and
<br />rests of title rsidence.
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