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<br /> caWkmn�uia►ur ud�er Wcin�nf�ny prrt of tiw Prop�wty.ar for coaveyu�a b�Ileu of�bn,�u+e heroby u�i�ned and
<br /> �lull bo p�sW to L.ender.
<br /> tn the evortt of� wlal ulciry of the Prapeay. the.proceodo �h�il bR �plied tn the wn►s �a:urod by this Security
<br /> Irutrumrnt.whether cx not tF�on due.with�ny exco�s p�1d w Sarower. In the evont ot.�putid uikin�af the Property in
<br /> whkh the fair m�rket vNlue ot�ha Property immedluely bofore Iho tjJcia�i�eqwl w ar�{t�crter than tho amount of the sumr
<br /> Necured by thir Secudty Inxtrument lmmodl�tcly lxforc thc t�kin�,unkw Bortower�nd I.cndec whenvise�aree ln writln�,
<br /> !F�wm��ecunod by thi�Securfty InRtcument sh�ll be roduced by the�nmunt of the psnoee�d�multipliad by the fdlowin�
<br /> frartion: (�)the toul unount of the rum�secured immedialely beforc tho tikin�,divided by(b)the tdr muket vdue af the
<br /> =- --- Propetty immodiately befcx�iha akiaQ. Any bAlance �hdl be paid to 8ormwer. in the event uf x p�uii�l taking of¢l�e
<br /> Propeny in which the fiir muket vdue of the Hnpe�ty immediuely befcxe the takinQ is kss than Ihe�mount of the wmt
<br /> •ecurod immediuely befix�e the telcing, unkwe Borrower and Lender otheiwise n�ree ln wridng or unlec�spplicabk law
<br /> otherwixe providea,the proceoda sh�ll bo�pplied uo the�wns secwed by thi:Securiry Insttument whether or not ihe wms ara
<br /> then due.
<br /> If the Propeny is ab�ndaxd by Borrower.or if.after notice by Lender to Borrower that the condemna�ofierx to make
<br /> an�ward or settlo a clrim far dnm+��ea,Borrower f�ils to rospond to Lender wlthin 30 dayc after the date the natice is given,
<br /> - — "-°--`-� Lender is authorized to wllat and apply thc procads.at itx option,either to rcstoauion ar repair of the Property or to the
<br /> :ums securtd by this Secu�iry lnstrumcnt,whcther or not thcn deu.
<br /> Unless Lender+u►d Borrower otherwise ogrce in writing, any application of proceeds to principal shall not exknd ar
<br /> postpone the duc date of the monthly pay�nents referred ta in puragraphs 1 w►d 2 or chenge thc amount of such pAyments.
<br /> 11. Borrower Not lteleased; Forbearance By Lender Not a Wiiver. Extension of the time for payment or
<br /> - �' maiific�tion of amoRizxtion of the sums securod by this Sccudty Instn�ment granted by lxnder to any successor In interest
<br /> �.��'' of Borrower shall not opernte to releaee the liabjlity of the origina!Borrower or Borrowerl�successors in interest.Lender
<br /> . shall not be requircd ro commence procecdings against tuty sttccessor in intercst or refuse to axtend time for payment or
<br /> otbenvise modify amortization of the sums secured by this Security Instrument by reason of any dcmand made by thc odginrl
<br /> - Borrower a Borrower's successors in intercst. Any forixarou►ce by Lender in exercising any right or rcmedy shall not be a
<br /> • _'- ' .�.- waiver of or preclude thc cxercise of any right or mmedy.
<br /> �" ''��: 'i�y • 12. Successors aad Assi�ns Bound;Jotnt And Several Li�bll(ty;Castg�ers. The covenunts and agreements of this
<br /> Security Instrument shall bind and benefit the successors and assigns of Lendec and Borrower,subject to ihe provisions of
<br /> ���R`;;•. ,•'�.'^' parugraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Securiry
<br /> '' " � Instrument but does not execute the Note: (u)is casi nin this Securit Instrument onl to mort a e t and conve that
<br /> '���'� 8 B Y Y S S •B� Y
<br /> " '„�i�:�.:.r:..e�_..� w Borrower's intcrest in thc Property under the tcrms of this Security Instrument; (b)is not personully obliguted to pay the sums
<br /> .,.� .�, .- '•�;;.
<br /> , Y s e c u re d by t h i s S e c u ri ty I n s t r u m e n t;a n d(c)ag re es t h a t Lender and un y other Borrower ma y a gree to extend,modif y,forbear
<br /> , � .^�'"'�"����; or make any nccommodations with c�egard to 1he terms of this Security Instrument or the Note wiihout that Borrower�
<br /> :�'•t.;: . consent.
<br /> -•:,;;,:`- ' ' 13. l.oan Charges. If the loan secured by this Security lnstrument is subject to a law which sets mwcimum loan
<br /> _--= ,���'—'`�`� charges,and ihst lat:is finally inlerprettd so that the interest or ottler loan cltatge�cnllectPd�r t�he collected ln connection . _
<br /> ' � , with the loan exceed the permitted limits,then: (a)any such loun charge shall be reduced by the amount necessary to reduce
<br /> � ..��-''A•�••• the churge to the permitted limit;and(b)nny sums ul�eady collected from Borrower which exceeded pertnitted limtts will be
<br /> refunded to Bonower. Lender muy chaose ta make this refund by reducing the principal owed under the Note or by making a
<br /> direct payment to Boirower. If a refund reduces principnl,the reduction will be treated a�a partial prepayment wuhout any
<br />-_ ..,,.:, v; prepayment charge under the Note.
<br /> ' . 14. Notices. Any notice to Borrower provided for in thix Securi[y Instrument shall be�iven by delivedng it or by
<br /> mailing it by first class mail unlesx upplicuble law reyuims use of unother method.The notice shall be directed to the Property
<br /> Addrcss or uny other addrcss Borrower dexignutex by notire to Lender. Any notice to Lender shall be given by firrt class _
<br /> -'- muil to Lender's address stated herein ar any athcr uddrc�x Lendcr Jexignatc.by notice to Barrowcr. Any notice provided for _
<br /> - x . . iu li�i� Secwity intiUWnrnl s6uH (x dermed tu huvr beeu given tu Buuuwer or LenJer wlicn g'ivtn ax provided in this 4
<br /> *� parugraph.
<br /> � 15. �;overning Law; Severability. This Securiry Instrumcnt shall lx govemed by fcdcrul law and thc luw af the _
<br /> jurisdiction in which the Property ix lorutrd. In the event thut uny provixion or cluuse of this Security Instrument or the Note _
<br /> canflicts with applicable luw,sunc�unflict shull not uffcrt othcr provi�ions of this Security Instrument or the Note which can �
<br /> be given eff^•ct without the contlicting provisicm. To this end tlx: provisions of this Security Instrument nnd the Note ure i
<br /> . declnred to bc sevcrnblc. —
<br /> ' 16. Borrower's Cupy. Borruwcr tihull lx�given onc confi�rnird copy of the Note and of'this Security Instrument. �
<br /> 17. Ti�ansfer of the Property ur u Iieneticiul Interest in Borrower. If all c�r uny part of thc Property or any intcrctit in =
<br /> it iti xold or trunsfeRed (or if a lxxncficiid imrrctit in Borrowcr i�sold�ir transtcrreJ und Borrowcr is not a nuturnl person)
<br /> without Lender's prior writtrn consent.Lcndrr muy,ut it�apticm,reyuirr immediute paynunt in full of nll+ums secured by --
<br /> � � this Security instrument. Howcver,this option sh•rll not Ix exerciscd by I.cnder it'cxercisc is prohibited by fedcml law as of �
<br /> '; ,..�, • the Jate uf this Security In+Uwu�nt. _
<br /> • If Lender excrcises thiti option,Lendcr shall givc Borrowcr noticr uf acccicr.uiun. Thr noticc shull provide a period of
<br /> ;; ••. not lesx than 30 days from thc dntc thc noticc is dclivcrcd or mailcd within which Borrower must pay all sums ucured by thi+
<br /> _ Security lnstrumcnt. If Bnrrowcr fnils tu puy thcxc sam�prictt to Ihr rxriration ot'thiti �xxriexi, Lendcr muy invoke uny °
<br /> �•_ mmedie+pertnittcd by thi�Security Instntmrnt with��ut further notirc or dcm.ind on Burrowcr. �
<br /> -Y. 18. Borrower's Ri�ht to Reinstate. If F3ott��wcr mcctti rrrtain conditiuns. Borruwrr.hall have thr right to hcrvc E
<br /> • � cnforrcmcnt of this Security In.trumrnt di�cuntinurd at any timc priur ta Ihr�arlicr of: ta)5 dayti(o�tiunc�xhcr pericxi ux �
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