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odtieunsa6an Gather taking d ark► � d the Plroperty. a fat cosveyao�e in lien of ocedemnrtioR. a(e beteb)► aoigsad std < ' *A be paid to larder. <` is the evsttt of i toad tilting -d thus Property. the.penoecds'thell be applied to die tarn» secured by dais Security bmm ma►t,•whether or not'*tat dart: with any exoess paid to Borrower. In the event of a pdtiltl rakittg of the Ptbpwty in which the fair market value of the Pt — iotmediately before the tiling is equal to or greater than the amount of the storms secured by this Security Iasonaaem immediately before the rating. unless, Borrower std Leader otherwise agree. in writing., the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the' following ` fraction: (a) the total amount of the amts secured urtmtediately before the taking. divided by (b) the fair market value of thae • - - — — = Property in which the fair iaarket value of the Property immediately before the taking is less than the amount of the stuns • .X . 7s tr,.• , .. � p � � to rearms w ar sourer thendue.' If the Fropedy is abandated by Borrower, or if, after notice by lender to Borrower that the condemnor offers to mate an award 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 to collect and apply the proceeds, at its option, either to restoration or repair of the :Property `or to the su ens; secured by this Security Instrrm em whether or not then due. Unless Lender and Baaawer otherwise agree in writing, any application of proceeds to principal shall not extend or die e due date of the monthly payments referred to in paragraphs 1` and 2 or change the amount of such payments. 1L Borrower . Not Rekwed; Farbesumm By Lender Not a Waiver. Extension of the time for paymettt or modification of amortization, of the sums secured by this Security Instrument granted by lender to any succesoor in interest of Borrower shall not operate to release the liability of the original- Borrower or Borrower's successors in imetem Lender shall not be squired, to commenco proceedings against any successor itt interest or refuse to extend time for payment or otherwise modify. orttzation of the sterns secured by this Security Instrument by reason of any demand made by the odgipal Borrower or BoaraweA successors is interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or prei:Iude the exercise of any right or remedy. 11 &coq mks sad Asldp o Bond; .%tat and Several LiabBity; Co signers The covenants and a�rrrents of this Security Instrument shall bW area benefit the successors and assigns of Lender and Borrower. subject to the provisions of paragraph 17. Borrowers ujaatts and .ap n cats shall be joint and several. Any Borrower who cosigns This Security Instrument but does not'execiftethe Note: (a) is co- signing this Security himment only to mortgage, grant and convey that Bomowees interest in the P etty under the terms of this Security insutut»ertt; (b) is not persmaltY obligated to pay stems secured by this Security Insav�tt; and (c) agrees that Leader and any other Borrower may agree to extend. modify. forbear, or make any accommodat cis: with regard to the tents "a this Security Instrument or the Note without that Borrower's crosent. � : ° _ • . 13. Loan fbarges. If the loan secured by this Security Instrument is subject to a law which sets maxattzutt loan charges; and that law is finally interpreted so that the interest or outer You ,;barges collected or to be collected in connection with the loan exceed the permitted limits, thus~: ' (a) any such loan charge• shall be reduced by the amount necessary to reduce the charge to the permitted limit 'and (b) any sums already collected ftcea Borrower which exceeded permitted limits will be refunded to Borrower. Lender rmy choose to make this refund by reduchig the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal i,Fte reduction will be treated as a partial prepayment without any . prepaymentcharge under the Note. 14. Notices: Any notice to Borrower provided form this Securry Instrument shall be gives by delivering it or by mailing it by first class mail unless applicably law requires use of another method. The notice shall be di ected to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given b� Est class nail to Lender's address stated herein or any other address Lender designates by notice to Borrower, Any notice p-oi ided for fa this Security Instrument shall be deemed to have been given to Borrower or Lender when given as prodded in this am p g15 Gos'esaing Law; Severability, This Security Instrument shaU be governed by federal 14w and the law of the jurisdiction in %47ich the Property is located. In the event that any provisoen or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Ss: a rity Instrument and tine Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one conformed copy of the No:e and of Z'-is Serity Instrument. 17. TmWer of the Property or a Beneficial Interest in Borrower. if all or any part of cite Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) w ;bout lender's prior written consent. Lender may. at' its option, require immediate payment in full of all sums secured by &¢ * Security instrument. However. this option shall not be- exercised by Lender if exercise is prohibited by federal law as of FkA t. a date of this Security Instrument. If tender exercises this option. Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed a ith n which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to th expiration of this period. Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. IS. Borrower's Right to Reinstate. If Borrower meet~ certain conditions. Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier of. (a) 5 days (or such other period as Singlc Family -- Fade UaeXreddie Mac UNIFORM iNS'TRUMENT -- Uniform Coven z•n 9M (page 4 af6 pages) i __.. - -- - °-_.— ....- ..__._. ,.-.. ..�..........__...- ••r.�w:,,.•„ -.mss• '