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<br /> '— � ,,,t cnndcmnntiun or othcr ta�ldng nf imy pcm uP Ihc F'ro��cny,or ti►t canvcyuncc in licu��f candemni�dan.urc hcrcby msi�ned nnd ` '''�'''���`�' `
<br /> - - Khnfl hv paid tn[.endcr. ^• ` `��'�� �-
<br /> - "� "��'"�"� In tQo cvent i�f n a�t�d tiikin� �►f�6�c 1k��perty, the pnxced» ahull tu apptic�i to thc tiums sccumd by thi+: Secudty , ^t`�'�,, �•� .
<br /> . .,ti.; Ingtrumcnt,whethor or nut thcn duc.wlt3�uny cxcc+�paid to Iiurn�wcr. In the evcm of ii purtiut tuking�,f the}'roperty in „ ° �'�'•
<br /> .� wMch tho fair mi►tket vulue af the f�roperty imu�cd{utely lwfurc thc tuking i�:cqunl to ur gnutcr than the amount uf the sums "' „,� ��
<br /> ,k , . sec��rcd by�hix ticcurNy Inwirument Dinn�cdilucly bcti�re thc tuking,in►1��• ii��rcixvcr a�nd Lend4r othcrwi�+c agne in writing. . ��';'' ' ,�
<br /> �.; �;-. � tl�o sums�;ecun.d by tl�ix Srcurlty Inr.tru�nent shuli Ix� reduced by the i�mnunt of cho pr�xccds muldplied by the follawing �': ;._ =
<br /> fmction: (c►)ihe tmnl untount��f thr stun��ecu�ed immediiitely befor�the tuking,divided hy(b)the fnir murket value af the _,
<br /> " ��'c � . praperty immediutety befam d►o a�king. Any balnnce rhull 1� puid w Burruwer. in the cvcnt uf a p:utial taking of the ,
<br /> ' ��� ,, '• ��•� Propotty in which the fair rnntkat vnluc of the Property immediutcly beforc the ta�ing iti icss thun the amount af thc sums
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<br /> °��— secumci immtdintoiy befuro thc tuking, unie.�. 8utruwer ai�d Leitde� utha�wl..e asree iii anting ar untc:;s applicab e st�
<br /> _ ,�__:�--
<br /> " otherwite provtdex,the proceeds xhull Me iipplted to the sumc secured by this Security Inztrument whether ar not the sums are �
<br /> • then duc.
<br /> If the Property is nbandoned by Bormwer,or if,ufter notice by Lender ta Borrowcr that thc candemnor offers to mnke ., .
<br /> un uwurd ar settle a claim for dumuges,Barrower fuilti ta res�oond ta Lender within 30 duys ufter the date ihe notiec i.s given. . .,
<br /> „ � Lendor js uuthorlud ta collect And upply the proceeds,at its option,either to re�turation or repnir of the Propertyr or to the ' �'.,:
<br /> sums secured by this Secu�iry Instrument,whether or not thcn duc. ; � �r
<br /> Unless Lender nnd Batrower otherwise r�tree in wriiing.:u1y ap�Olication of proceeds to pri�cipal shall no4 exte�ed or
<br /> '�, ' � postpone the due dnte of the monthly payanents refetmed to in paragraph�t:ired 2 or change the umomc�t off suc6►payments. ;� ' ,
<br /> • � 11. Borrower Not Released: E�trb¢auracace ey Lender No4 r� 0'Sraiver. Exte►asion uf ¢Qee ¢ime for payment or �<s..
<br /> moditication of sunortlzation of the sums sYCUred by this Security instrument granted by lLender to any succes.+or in interest � '
<br /> of Borrower shall not opernte to release the liabitity of the originai Bortower ur�oaowier's successars in interest.l.ender �'; . :_:,�,r,
<br /> � - � shall not he requtred to commence proc:¢edinp.s against any successor in iaterest mr refaese tm extend time for payment or j • ,_;
<br /> otherwise modify amortiuttion of the surans secured by this Security Instrum�nt by reason mf any demand made by t6te original •�
<br /> ' Borrower or Botrower�s successors in intterest. Any forbearance by Lender in exercising uny right or remedy shall not be a „ .
<br /> waiver of or preclude the exercise of any right or remedy. ' '. � �
<br /> 12. Successors and AssBgnes�oa�a�;9oaM au�d Several L,iability;Casigners. Thc�covenants und ugreements of this �
<br /> ,;� . Securiry Inswment shall bind and bene�it the successors and assigns of Lender and Barrower,subject tu the provisions of �;,,
<br /> , � paragraph 17. Borrowera covenants ancfl agreemenGt shall be joint and severui. Any Bortower who casigns thi.r• Securiry ��;,� �
<br /> ° Inswment but dces not execute the Note: (a)is co-signing this Sccurity lnstrument only to mongage,grant and convey thut � :.
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<br /> ' Borrower s interest in the Prope►ty under the terms of this Security Instrument; (b)i�not personully obligated to pay the sums ti � ;�`
<br /> �� •:• , secured by this Securiry lnstrument;und (c)agrees thut Lender und any other Barrow�er may a�rec to extend,modify,forbear � ••-.y�___
<br /> �:' •� � or malce any uccommodatiom with regard to the terms of this Securiry Instrumenn ��r Ihe Note without thnt Borrower's � ''��`
<br /> :,.x�:..�.;;`: consent. �
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<br /> • 13. Loan Charges. If the loan s�cured by this Securiry lnstrument i� subject to u luw which sets maa�imum losn �`,��'? I .,
<br /> ' °;:..'� chargcs�ar�d thai!aw L fsnslly int�Y^:;�a�o*tiat the interpst nr��hP��nan rharge�collected er to��collected in wnnectioe �._�_ '�t.,•
<br /> � with the loan exceed the permitted limits,then: (a)any such loun cha�ee shall be reduced by tlie amount»ecessary to reduc <<.;,.�;
<br /> the charge to the petmitted limit;stttd(b)any sums alneady collected*'eami 8orrower which exceeded permitted li�ias w�ill be �'', �S�f'
<br /> �� refunded to Barrower. Lender may choose to mnke this mt'und by redu�ing the principa!owed under the Note or fiy maling a
<br /> . . direct payment to Borruaer. If a refund reduces principul,the reduction will be traatcd as a pariial prepayment «i�'h�ut any • ,
<br /> prepayment chctrge under the Note. ,�.
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<br /> , � 14. Notiees. An notice to Borrour�provided for in thi+Security Instrument tih:ill be gi►cn by delivering it or by ,,`,Ir�;�:�i��•
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<br /> mailin it b �rst cluss moil unless a li�able law re uire�use of another method.The not��e xhall t�dimcted to thc Property t�,
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<br /> :"i''i'. Address or any other uddrctis Borcower designuteti by notice to Lender. Any natice to L.ender shall be given by Cnt class {,
<br /> ,�„:f�:`::.;c. .,. �
<br /> ::.it,,;,•:'�'�:,•�..' mail to Lende�'s uddress stated herein or any other addretis Lender de�i�nutes by noti�e t� Bnrrower. Any notice provided for .'.:�, ,•; '''„,�.- .
<br /> ;•+;:��.�.•. . in this Security lnstrument shall be de�med ta have been given to Borrow�cr ar Lrnder when Kiven as provided in this ,.;s`.,:i�,�'.;y,i,r;;'�;
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<br /> ;- ,�,,,.�.. �;��s, p�g�ph •'." .. a;;��!`,.i'
<br /> • '� � +ovemed b fedtral la�� and the law of the
<br /> �,1�-{.:.�! 15. Governing Law; Severabilita. 'fhis Sccuriry In.trumcnt �h.�f� t+z �, y • y�v.,,-,:;
<br /> • c.,�
<br /> ,�,L'�r , , ;,;+,��n� jurisdiction in which the Pmperty is located. ln the event that any pro�i�i.�n or clause of this Securia} lnstrument or the Note °�;J.{•I��
<br /> ••:�';��� �� t�� conflicts with applicnble law,such conflict shall not uffcct other pro�•irionti of thi�Security Instrumenz or the Notr which can '�'��'t`�'
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<br /> ?'4,,... �,�.�r► be given effect without the conflicting pruvi,ion. Ti, :hi+ end the pruvi�ion+ of this Security In+trument und the Note ure ;;_�,
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<br /> '1����;�;`,''�'�'c.�c.'�,r�,' declaredtobeseverable. �it�:;'�'� • � ,,,,•,...,
<br /> . i,r�.;; 16. Borrower's Copy. Borrower shall tn given one runfonncd ropy of thr Note and uf thi�S�rurit�ln,trument. I ' ' `���.''
<br /> -,.j-� I i. 'I�ans[er of the Property or a Benefcial Interest in Borrow•er. If all or any pan of�l:: ProExny or uny intcrest in ( ; -�•„Y�
<br /> .;:.;:;��
<br /> it is sold or tramferred(ar if a beneficial interc.t in Borrowcr iti�i�ld nr tran.tcrred and Borrrt�z�i� not a naturul person) � . ;�r.;:,+� ,
<br /> ;;t•,t'S,f�•� without Lender's prinr wdtten consent.Lcnder ma�.ac it�i�pticm,myuirc immeJiate rayrncnt in fvfl of all sumti secured by ,. "'_
<br /> �,:-;,• . . ;: this Security Instrument. Huxever,this option.hall nut hr exrrri.ed hy Lcndcr if crzrri��i� prohihited by federal law as of �
<br /> �����•�� �,?", the data of this Security Instrument. � . � .
<br /> •���"' lf Lender exercises this option,Lec�der tihull giv�8orco���rr n�nire��f accelcraUu:�. ?he notice sh.ill prrnide:�peri«i of
<br /> .�,..,
<br /> ��1��„� not less than 30 dayx from the dute thenourr i�deli<<rcd i�r maded uithin��hich Barruwrrmu,t p.i}all sumti ticrurcd By this f �. �
<br /> Security lnstrument. If Borrower faily tu p:+)• the.e .um. priur ta�z3:��e.rpiration uf thi,pc:riai. L.enJer maJ• invahe any C .
<br /> remedies permitted by thi+Sctiu�ity In�trument�vithoufi fu�nhr�notire or dernand ex� Barro��cr. '
<br /> . � l�. Borrower's Itight to Reinstate. If Borrowc; rn�rt. renain runditiun�. Burroacr.hall huvc thc ri�!ht to huve ! . . .
<br /> enforcement of this Scrurity Imtrument di.rontinued :u am•timr prior���thr rarlicr ut`. �a�5 days 1or�urh othrr period ati ; ,
<br /> . ��"'�� � timgk F�mil�-•Fnnnie 11ac'Freddie�tuc l�IFOR�f 1\ti'fkl'�ik\'I ..t'ndami Co.cnant� 9�90 qxrer•J,/n/we���� �
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