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71JN 27 '00 09:52FaM WILLSON & PECHAC 2000095"75 EK P.5 10, Condemnation. The p►ooesde of any award Or claim for damagoa, direct or consequential, in connection with any condemnation or other taking of airy part of the Pmpotty, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lander. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument whether or notumn due, with any excess paid to Borrower. In the event of a partial taking of the Property In which the �lr market value of the Property immediately before the taking Is equal to or greater than the amount of the sumo secured by this Security Instrument immediately befora the taking, unless Borrower and Lander otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds muldplled by the following fraction: (a) the total amount of the sums secured Immediately before the taking, divided by (b) the fair market value of the Property Immediately before the taking. Any balance shalt be paid to Borrower. In the event of a partial taking of the PrgmW in which the fair mwket value of the Property Immediately before the taking Is less than the amount otthe sums secured immediately before the taking, unlm Borrower and Lender otherwise acires in writing or unless applicable law otherwise provides, the proceeds shall be applied to the sums secured by this A =urkty Instrument whether or not the sums am then due if the Properly Is abandoned by Darrmisr, or 9, after notice by Lender to Borrower that the coed emnor offers to make an award or settle a claim for demagog, Borrower fails to respond to Lander within 30 day& after the date the notice is given, Lender is autlwrlxad to calleat and apply the proceeds, at its option, aither to restoration or repair of the Property or to the sums secured by this 8eourlly instrument, whedtter or not then due. Unless Lender and Borrower otherwise agree In wriDn' g, any application of proceeds to principal shall not extend or postpone the due date of the monthly Mmonfs referred to In paragraphs 1 and 8 or change the amount of such paymenta 11.6orrOerer Not newasedl Forbearance By Lender Not a t #Kw. Extension of the time for payment or modillcation of amotgaallon of the sums secured by this Security Instrument granted by Lender to any successor In interest of Borrower chaff not operate to release the liability of the original Borrower or Borrower's successors in Interest Lender shall not be required to commenoo proceedings against any successor In interest or refuse to extend time for payment or otherwise modify amcxt�tlon sefthe sums secured by this Security Instrument by reason of any demand made by tho orlginal Borrower or Borrower's successors In Interest. Any forbearance by Lander in exerelsing any fight or remedy shall not be a waiver of or prectudo the exercise of any right or remedy. 12 Successm trod Assigns round; Joint and Several Llablllly; Co-signers. The covenants and agreements of thls Seetmfty Instrument shall bind and benefit the successors and assigns of Lander and Borrower. subject to the provisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any ea rrowor who co-signs this Security Instrument but does not execute the Note: (a) is cosigning this Security Instrument only to mortgage, grant and =way that Borrower's rnterest In the Property under the terms of this Security Instrument; (b) Is not pe=rtally obligated to ppgaly►the starts Secured by tads Security Instrumant; and (c) agrees that Lander and any other Borrower may agree to extend, mod1iy, forbear or make any accommodations with regard to the terms of this security Instrument ar the Note wtrhout that Borr"Wa consent 1a. Laan Cbames. If the loan secured by this Security Instrument Is subject to a law which eels maximum loan ct*fees, and that law is finally interpreted so that the keterest or other loan charges collected or to be collected In connection with ft loan ettoeed the permitted limb, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permuted Irfilh and (b any sums already collected from Borrower which exceeded permitted limits will be reh� ed to Borrower. Lender may choose to make this refund by reducing the principal ill bet treated as^ NOW of charge under the ola. roduces �incipaJ,the raduabn 14. Notices. Any notice to Borrower provided for In this Security Instrument shelf be given by delivering it or by malling it by first clacks mail tmetass appllcabWlaw requires use of another method. The notice shall be directed to the Property Address or any other address Borrower doslgr+otsa by notice to Lender. Any pnotice to Lander shall be given notice provided for In this Security instrumenheroin hall be deemed Mohave bee Lander v n to Borrower or or Lander when givenn as provided In this paragraph 13. Governing Law; Seeerability. This Security Instrument shall be governed by federal taw and the law of the luftiation In which the Prtperty Is located. In the event ttta<atrty provision or clause of this Security I nstrumem or the Hpte Meta with eppilloabite low. such Conflict shall not enact other provisions otthis Security Instrument orlhe Note which can be given dfoot without ate eonflie ft provision. To this and the provisions of this Security Instrument and the Note are declared to be srvetabla. I& Born w's Copy. Borrower stroll be given one conformed copy d the Note and of this Security Instrument. 17. Transfer of the Property ar a Illimetkdal hillersat in Borrower. If all ar any part of the Property orarry interest In It it scold or transforred (or K a beneficial Interest In Borrower Is sold ar transfon ed and Borrower Is not a natural person) without Lender's prforwritta n consent, Lender may, at Its option, require immediate paymont in full of all sums secured by this Security Instrument. However, this option shalt not be exercised by Lender if exercise is prohlbited by fedora! law as of the data Of this Security Instrument taE6aA9ltAnttMG EFAWLY —MMAJI aYCUMFC MMSTPUMXT M)11Mitiaa9/9u 6C/CMMW /tnsa /70as(9etlK PAGE • OF e