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<br /> caidemnatioo or dher takin�of�ny p�ct of the P4rrpaty.ar fa conwy�uice in lieu of�arc hereby wl�ned�nd
<br /> sh�ll be P+id a Lender. '
<br /> In the eveat of a toW t�king of the ProQeRy,the �h�ll be�ppliod to the sums �rcured by t�is Socu�ity
<br /> Insuument,whether ar not tlxn due,with�ny excess pd to Bort�ower. In the event of a putial talcin�of the Prop�rty in
<br /> whlch the f�ir muket v�lue of the Property immedlately beforc the Wcin�is eqwl to a�ceator tb�n the�mount of the eum�
<br /> secured by this Sacurity Instrument immediately befa+e the taking,unkas Barower md Lender otherwl�e�Sn+e in writins.
<br /> — — -- the sums secured by this Securiry Instrument shall b. raluced by the amewnt oi the proceoda multipliod by the following
<br /> fiaction: (a)the tael anount of the suma cecured imm�di�tely before the taking,divided by(b)thc fair m�uket value of the
<br /> Property immodiately before the taking. My balunce ahall bc paid to Borrower. In the event of a partial t�kiog of the
<br /> Pcupecty in which the fuir market value of the Pro�xrty immediately before ihe to{dng is Icss thwn the amount of the sums
<br /> secured immediately before the taking, unless Borrower u�d Lender otherwise Agree in writing or unlecs applicable law
<br /> ottierwise provides,the proceala shall 6e applied ro the sumc secuc�ed by this Secudty Instrument whether or not the s�unc am
<br /> then duc.
<br /> - - �°- If the Property is abandoned by Borrower,or if,after notjce by i.ender to Barmwe.r that the condemnor offers to make
<br /> an a�vud or settle a claim for damnges,Barrower fails to rcspond to Lcnder within 30 days ufter tha dnte the noticc is given,
<br /> l.ender is authoriud to collect and apply the procceds.at its option,either to resroratIon or npuir of the Propeny or to du
<br /> sums secured by this Security Instrument,whether or nat then due.
<br /> Unless Lcnder and Botrower otherwisc agrcc in writing,any upplicatior► of procceds to principal shell not cxtend or
<br /> ° postpone the due date of the monthty payments referred to in parngraphs t and 2 w changc the amount of such payment�.
<br /> - 11. ilorrower Not Relcased; Forbearancc By I.ender Not a Waiver. Extension of thc time for payment ar
<br /> _`�' madification of amortizntton of the sums secured by this Security Instrument granted by l.ender to any successor in interest
<br /> . of liorrower shall not operate ro release the liability of the originul Barower or Borrowerk successors in intercst. Lender
<br /> shall not be required ro commence proceedings against any successor in interest or refuse to extend time for payment or
<br /> ,�„aG::;,;,�,;:,,a�.� othenvise modify wnortiza�tion of the sums securcd by this Security inxtrument by reason of any demand made by the original
<br /> •�� ' `" Borrower or Borrower's successors in intet�st. Any forbearance by Lender in exercising any�ight or remedy shall not be x
<br /> �' ' " ' waiver of or prec(ude the exercise of any right or remedy.
<br /> -.• �� 12. Successors And Assigns Bound;Joint and Several I.iabpity;Casigners. The covenants and agmemems of this
<br /> ''`�'• ';, „� ,.�`�.y Security Instrument shull bind and benefit the successon and ucsigns of Lender and Borrower,subject to the provisions of
<br /> _ .�..7�"ptri?�"n":::�`'..
<br /> .� �;.,,s � ,_, paragraph 17. Borrower's covenants und agreements Shall be joint and several.Any Hon•ower who co-signs this Security
<br /> •'�.'? .�.`.�-_, Instrument but dces not execute the Note: (a)is co-signing this Security Insuument oniy to mortgage.grnnt und convey that
<br /> :.1: � �'- � Borrower's•interest in the Propeny under the terms of this Security Instrument; (b)is not personully obligated to pay the sums
<br /> ���;� ��'"� `� secured by thiF Security Instrument;and(c)a�rees that Lender und any other Bottower may agree to extend,modify,forbcar
<br /> �'� ~��•�`•` � '' "�- or make any accommodntions with regurd to the terms af this Securiry Instrument or the Note without that Borrower's
<br /> _ '$?:;N`�:j.,::�,;.1: � cansent.
<br /> ...
<br /> • ' 13. Lw�n Char�es. If the loan secnrcd by this Securiry Instrument is subject to a iaw which sets m•rximum ioan
<br /> ' , .. � charges,und that IAw�s finully interpreted so thAt the interext or other loan charges collected or to be collected in connection
<br /> r, •- with the loan exceed ihe permitted limits,then: (u)uny such loan charge shall be reduced by the amount necesxary to reduce
<br /> . the churge to the permitted limit;and tb)uny sums ulready collected from Borrower which exceeded permitted limits will be
<br /> �� � ' refunded to Borcower. Lende�muy choose to makr this refund by reducing the principal owed u►sder the Note or by mokins u
<br /> • � dircet puyment to Borrower. If a refund redaces principal,the mduction wili be treated us u partial p�epayment without any
<br />- prepayment chnrfie under the Notc.
<br /> 14. Notices. Any noticc to Borrower provided for in this Sc�urity Instrument+hall bc given by delivering it or by
<br /> mailing it by first class muil unlesti upplicable luw reyuirer:usc of:mother method.Thc notice shull be directed to the I'raperty
<br /> ' Addresti or any other address Borrower designatez hy notice to Lcndcr. Any notice to Lender shall be given by fint class
<br /> ;�. � meil to Lender's addre�s stutcd hcrcin or any c�thrr add;es.l.endc�dcsign:ucti by noticc ta Rorn�wcr. Any noticc provided for
<br /> `• � in this Security Instrument xhall hc dcemcd to h�vc lxcn given to Borrowrr or Lcndcr whcn given as provided in thix
<br /> '=,._
<br /> ,�,, paragraph.
<br /> I5. (:overnin� Law; Severability. This Securiry In�trument shuil hc governed by fcderal luw und the luw of the
<br /> ' jurisdiction in which the Property is IcxateJ. [n thr event that any pmvision or clauxe of thiti Security Inxtrument or the Note
<br /> conflicts with applicable luw,such contlict shall not affect othcr provi.ionti of thi�Security Instrument or the Note which c:ui
<br /> � be given effect without the con8icting provi,ion. To this end the provisions of this Security Instrument und the Note are
<br /> . derlsued to Ix scvcrablc.
<br /> 16. Borrower'.s Copy. Borrowcr.hall tx givcn onr confunnrd rupy�if thc Notc and of thiti Security Instrumcnt.
<br /> 17. 7Yunsfcr of thc Property�►r a Beneflcial Inter�t in Borrower. lf al l or uny pan of thc Property or any intcrest in
<br /> it is sold or transferced (or if a lknefi�iul irncrcst in Born�wer i.sold or truntiferred anJ Bcim�wer is not u natural person)
<br /> without Lcnde�ti prior writtcn cunsent,LcnJer may,ut it.optiun,rcyuirr immediutr payment in full of a8 sums securcd by =.
<br /> � this Securiry Instrument. Howevcr,this option shall nut he exerciscd by Lcndrr if cxcrrisc is pruhibited by federal law u`of
<br /> " - " the datc of thix Sccurity Instntmcnt.
<br /> �^'� If Lender exerrixes this op�ion.Lrnder tihull givc Aurrower noticr of uceeler.ition. Thc noticc�hall proviJe a pericxl of
<br /> . ` not lesz than 30 days fmm thc dutc thr nuticc ix dcliv�red i�r mailed within whirh Borrower mu�t pay all sum.securcd hy this =
<br /> Security Instrumrnt. If Borrowcr fuilti to pay th�tic sum+ pri��r to thc rxpirution oY thiti Fxric�d. Lrnder muy invoke uny
<br />=. r, � remedics pertnittcd by this Sccurity In�trumcnt without funhcr nuticr ur Jrmand an Borruwrr.
<br />; � IS. Borruwer's Ri�ht to Rein+tute. If B��rrowrr mect� ccrt.iin condition+, Borrowrr shall havr the right to have
<br /> enforcement of this Security Instrument diucmtinucd at any timr pri��r tu the carlirr of: (•r1 S day�(or.uch other period u�
<br /> ° • Singlc Frmdy-•Nrnnic 11adFYaddic Nr�GtiIF'ORM I\ti7'N1:11kK'f••Undurm t'u�cnant, 9/90 �p��xr J�,�r��gr.,i :.
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