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<br /> - -- wndemnation or other taking of uny Nuct of thc Nrop�rty.or for conveyance in lieu of co►xiemnaei�x►,at+e hereby assigned and __ . :� �
<br /> r ^ � shnll be paEd to Lender. • "�`
<br /> In the event of a total taking of the Property, the proceecls shalt be Applied to d�e sums secured by this Security ,
<br /> � Inatrument,whether or not then due,with any excess p�id tu Borro�ver. In the event of a paitial taking af the Property in
<br /> �� whlch the fair murket vulue of the Property immediately before the taking is equal to or gmater than the amount of the sums � --
<br /> � � secumd by this Security Insuument immediately before the taking,unless Borrower and l.ender atherwise asree in wdting. -
<br /> � � the sums secured by this Secudty Insuument shnil be reduced by the amaunt of the proceedx multiplied by the following `r
<br /> ° fractlon: (a)the tatal amount of the sums secured immcdiatcly befare thc tat�ing,divided by(b)the fair market value of the _
<br /> : Property immectiately before the taking. Any baiance shali ba paid to Borrower. In the event of a partiul taking of the
<br /> -''' Property in which the fuir market vatue of the Property immedistely before the taking is less than the amount of the sums
<br /> secured immediately before the tctking,unless Barrower and Lender othenvlse u�ree in writing or unless applicable law �.
<br /> othenvise pmvid�s,:he proceeds shall be upplied to the sums secured by this Secudty lnstrument whether or not the�ums are . ,
<br /> then due.
<br /> !f the Propecty is abandoned by Harrowcr.or if,ufter notice by Lendcr to�orrawcr thut thc condcmnar offen to mnke
<br /> an awsud or scit�e u cluim for damages.Bonower fuil.ta cespand to Lendcr within 30 duyti uftcr thc dntc thc noticc i� Biven,
<br /> ' Lender ic authorixed to ri�ticct und appfy the Qraceeds.at its option, cither tn n+►�►rution��r repi►ir of thc Property ur to thc
<br /> ' xum�secured by ihis Security Ir+strumcnt,whether ur not then due. ° .
<br /> Unlesx I.endcr i►nA Horrowcr othcrwixc agrer in writing, nny upplicutiun of pnKCrd, to prfncipai yhull nnt eatcnd.�r
<br /> postponc thc duc dntc��f ihr munthly paymcnts rcfcrmd to in pura�ruph�I unJ 2 ar chnngc thc+imuunt ol such puymcntti.
<br /> tl. 8arwwer Nnt NeleuFeds Furbrurunce Ny l.ender Not u Wutvcr. Eixtcn.iuu uf thc tinx ti�r puymcnt or
<br /> ' modit'icntian of umemiraitian ot'the Kums r�erurcd by thix Security Instrument gri�nted Ny l.ender t��uny.uccessor in interrtit
<br /> � � of�ormwer�hotl not operutc tu nlenxe thc�iubility of the arlginul Burrowcr ur BoROwcr?+.rucceti,arx m intcre+t. l.ender �
<br /> shnll not be mquired to cammenre pmceedingti ugainxt uny Successor in intere+t ��r refu+e to extend tim� fur puy�aent or
<br /> atherwise modlfy amnrti•r.utian of the�ums secured by thir Security Instrument by n:uwn of suiy demand rnade by the original
<br /> Botrower or Borrower�wuccrtisors in interetit. Any forbeurnnce by Lender in excrcising any right or remedy xhail not be u }
<br /> • ' � waiver af or prectude thc exercixe of any right or remedy.
<br /> � � 12. Sucees.sors and A�.v(gns Bound:Joint and Several Liabifity;Casi�ners. The covenunts and ugreements of this
<br /> � , Security Instrument shall bind and beneft the successors and assigns of Lender nnd Borrowcr,subject to the provisions of
<br /> paragraph 17. Borrower's covenants and agreements shal!be joint and several.Any Borr�wer who co-signs this Security
<br /> Instrument but dces not execute the Note: (a)is co-signing t4�i�Security Instrument only to mortgage,�rant and eonvey thnt
<br /> Borrower's interest in the Property under the terms of this Security Instrument; (b)is not personally obligated to pay the sums • � .�`
<br /> secured by this Security Instrument;and(c)agmes that Lender 1nd amy other Borrower may agree to extend,modify,fori�ear ;�,.;i•y�,
<br /> .. . or malce any accommodntions with regard to the tetms of thi. Security Insenunent or the Note without that Borrower's' ;. ,•.: �
<br /> ..':
<br /> •!i• �;�;;;:;.�:. :• consent. ' ' '.� '�', < <'+
<br /> � " "��'��'- �' F eM Inan cc�rurvrl hv thlc Seeuri¢v Insttument iti sub�ect co a law which SCTti f11AXII11U111 I08i1 �-
<br /> .-. : _•.',� 13. i.van ���rges. I. .... . --._ � .
<br /> charges,and that law is finully interpreted so that�[he is�terest or other loan churges coliected or to be collected in connection : �
<br /> with the laan exceed the petmitted limits,then: ta�am such la+:+n chazge shall be reduced by the amount necessary to reduce
<br /> ,. the charge to the permitted limit;and(b)any sums ulready callrcted from Borrower which exceeded permitted limits will be ' +
<br /> refu�ded to Borrower. Lender may choose[o make this refwred b�reducing the principal owed under the Note or by muking a .'. . r 1
<br /> ' � direct payment to Borrower. If a refund reduces principal,th� reduction will be treated as a partial prepayment without uny . ��'��, �•
<br /> prepayment charge under the Note. '''�• �''� �
<br /> ;r%;,:,-.,./i
<br /> � 14. Nottces. Any notice w Botrower provided for in this SecuriII}• lnstrument shall be given by delivering it or by . ,,,.. r,�.
<br /> ::�.•;, � mailing it by first class mail u�le+s applicable luw requires use nf another method.The notice shall be directed ro the Property , .,��•�,;,. ��, '
<br /> ��:,� ,:;,.,; � Address or any other address Borrrn��er designates by notice to Lender. Any notice to Lender shall be given by fir:st class ;;�:��� .,
<br /> ' l,'�"•., mail to J_ender's addrexs stated hercin ur any other address Lcnder designate.by notice to E.�nower. Any notice provided for ' ' 'r :,. '�-1
<br /> . tµr�� �;,.,,.�..•.i�_ :1
<br /> in t}tis Security instrument shall be deemed to huve heen given to Borrower or Lender �.�hen given ati provided in this i ,,+'',.'�f�• �r./�
<br /> parugraph.
<br /> �Il�..:
<br /> 15. Govecning Law; Severability. This Serurity� Instrument shall be governed by federa[ law and the law of the . r �;
<br /> s,,, ...
<br /> jurisdiction in which the Property is located. M the event that.my provision or clause of this Security Instrument or the Note � ";a;.', c`=;,
<br /> conflicts wi t h app lica b le Iaw,suc h can Flic t s ha l l n��t affect oU�er provisions of this Security In.trument or the Note ahich can , �_�;:�,, •��•'
<br /> , . be given effect without the contlicting provi�ion. To this end the provisionti of this Security Instrument and the Note are � ;,��;;:?,: �
<br /> . declared to be severable. '..��.,
<br /> ���,��: .
<br /> 16. Borrower's Copy. Borrower shall be given one conformed cop}of the Note and of this Security Instrument. +
<br /> , 17. 7Yansfer of the Property or a Bene5cial Interest in Borrower. If all or any part o(the Propenp or any interest in �
<br /> �r�' �;�;::,, it is sold or trantiferred for if a heneficial interesi in Burrower i.+old or tramfcrnd and Borrower is not u natur�l penon) �,�
<br /> - � ' without Lender's•prior written cim�ent.Lender may,at its��piinn,reyuire immediate pa}ment in full of all sums secured 6y "�;'�c> • .
<br /> �� .i�;':..il�f this Security Instrument. However,this option shall not he exercitied by Lrnder if cxerci,e ,<prohibited by federal luw as of : ;•"
<br /> ' the date of this Security Instrument. ' '
<br /> ' If Lender exerrises this option,Lender�hall give Borrcnver nutice<�f accderaticm. The n��tice tihall provide a pericxi of
<br /> not less than 30 dayx fmm the date the notice iti drlivered or mailed within whirh B��rruwer mu.t puy a7! .um+secured hy this
<br /> Security InstrumenL If Borrower fail� t�> pay� thc.e ,ums priur to the expirution uf thi. Fxriod. L�nder may invoke any
<br /> remedies permitted by this Seruriry[mtrument without further noticc or demand on Burru�ver. '
<br /> 18. Borrower's Right to Reinstate. lf Bi�naaer mect�certain rimditium, Iiorn�wer .hall hace the right to huve
<br /> . enforc:ement of this Serurity Instrumcnt discon!inueci at any time prior to the carlirr of: 1a)S day.ior�uch otb�er perioci ax
<br /> . ' Sin�:lc I�am�h-F'annir�lar�Freddir�t•rc l\IFOIt\I 1`5'TR['�tE1'f--l mtonn c'�wrn�m. 9�4q �p�i,N uj n pu�,•�i i
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