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<br /> :ondernn;a o,i or other taking of any part of the Pmpcrty, cn• for conveyan,.: , in lieu of condemnation, are I ereby .insigned and
<br /> shall be paid to Lender. `
<br /> in tl:~, event of a total taking of the property. t ,,t proceeds shall be applied to the sums se;:a,red by this; Security
<br /> lnctrunicv,. l,vt.::tl:cr or not then due, with any excess 1--,-;d to Borrower. In the event of a par ial ta';i;ig of ill Pr-.,perty in
<br /> which the fair market value of The Property immediately before the taking is equal to or greater than : amour-;, of the sums
<br /> secured by this Security Instrument immediately befom ai < taking, unless Borrower and Lend,.:r othe, prise agave in writing,
<br /> the sums secured by this, Security Instrument shall it iced by the amount of the proceeds rnult°r; lied by the following
<br /> fraction: (a) the total amount of the sums secured imam r ~;--Iely before the taking, divided by (!s) the fa,',( market value of the
<br /> Property immediately before ;ioe taking. Any balance s .:ll be paid to Borrower. In the event of a partial taking of the
<br /> Property in which the fair market value of the Pro, i rmediately before the taking is less than lice amount of the sums
<br /> secured immediately before the taking, unless Bor; r and Lender otherwise agree in writing or unless applicable law
<br /> otherwise provides, the proceeds shall be applied to the gurus semred by this Security Instrument whether or not the sums are
<br /> then clue.
<br /> If the Property is aba ndoncd by Borrower, or if, after notice by Lender to Borrower that the condemnor offer: to make
<br /> an award or settle a claim for &m-ages, Borrower fails to resp^nd to Lender within 30 da%s after the date the notice is given.
<br /> Lender is authorized to collect and apply the proceeds, at -.Is option, either to restoration or repair of the Property or to the
<br /> sums secured by this Security lttstrument, whether or riot then due.
<br /> Unless Lender and Borrower etherwise agree in writing, any ipinication of proceeds to principal shall riot extend or
<br /> postpone the dtue date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such pavm.nts.
<br /> I1. Borrower. Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br /> modification of amortization of *,hc sums secured by this Security Instrument granted by Lender to any successor in interest
<br /> of Borrower shrill riot op.;rate to release the liability of the original Borrower or Borrower's successors in intwe.,ii. Lender
<br /> shall not be required to commence proceedings against any successor in interest or refuse to extend time for p-tyment or
<br /> otherwise modify arnorti ation of the sums secured by this Security Instrument by reason of any demand made by vii- original
<br /> Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a
<br /> waiver of or preclude the exercise of any right or remedy.
<br /> 112. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of this
<br /> Security instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of
<br /> paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs chi,, Security
<br /> Instrument but does not execute the Note: (a) is cc-signing this Security Instrument only to mortgage, grant and convey that
<br /> Borrower's interest in the Property under the terms of this Security Instrument; (b) is :tot personally obligated to pay du sums
<br /> secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, madiiy, forbear
<br /> or make any accommodations witty regv: -.f to the terms of this Security Instrument or the Note without that Borrower's
<br /> consent.
<br /> 13. Loan Charge:i. If the loan sccumd by this Security Instrument is subject to a law which sets maximum loan
<br /> cliarges, and that law is. finali,: int-rpreted so that the interest or other loan charges collected or to be collected in connection
<br /> with the loan ex%.:r,Td the permitted limits. then (a) any such loan charge shall be reduced by the amount necessary to reduce
<br /> the charge to the perrniu:;d limit; end (b) any sums already collected fn)rn Borrower which exceeded pennitted limits will be
<br /> refunded to Borrower. L ender may choose to make this refund by reducing the principal owed under the Note or by making a
<br /> direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any
<br /> prepayment charge under the Note.
<br /> 14, Notices. Any notice to harrower provided for in this Security Instrument shall be given by delivering rt or by
<br /> mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property
<br /> Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class
<br /> mail to Lender's address stated herY.in or any other address Lender designates by notice to Borrower. Any notice provided for
<br /> in this Security Instrument shall be deemed to have been given to Borrower or Lender when given a> provided in this
<br /> paragraph.
<br /> 15. Governing Law, Severability. This Security Instrument shall be governed by federal law and the ;aw of the
<br /> jurisdict;on '.n which the Property is located. In the event that any provision or clause of this Security Insi.-mrem or tine Note
<br /> conflicts with applicable law, such conflict shall not affect other provisions of this Security instrument or !Note which can
<br /> be given effect without the conflicting provision. To this end the provisions of this Security instrument and the. Note are
<br /> declared to be severable.
<br /> 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security In-,~nnncri.
<br /> 17. 't'ransfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property rn~• interest in
<br /> it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural , e.tson)
<br /> without Lender's prior written consent. Lender may, at its option, require immediate payment in full of all sum:, secured by
<br /> this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of
<br /> the date of this Security Instrument.
<br /> If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a rwo'-,d of
<br /> not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured tfy this
<br /> Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke ar y
<br /> remedies permitted by this Security Instrument without further notice or demand on Borrower.
<br /> IS. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall h.,!ve the right to have.
<br /> enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as
<br /> Single Family - -Fannie MaeltYeddle Mae UNIFORM INSTRUMENT UnKorm Covenants 9/90 (rage 4 nth pagev)
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