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<br /> condemnatEon ar othcr t�kin�of any pan of�t�e�ropercy,or far conr•eyanee ir�lIeu of condcmnstian,are herGby assigne4 end
<br /> shaq 6e paid tn I,ender.
<br /> In the event af a totul teking of tho kroperty. tha procesdA shall oe applted to the sums secured by tt�3s 5e:curlty
<br /> Insutement,whethcr or not then due,wit!►u.�l�excess paid to 9orrower. In the evant af a pariial taicing nf!he Propetty in
<br /> whlch the fair nwket valuG of the Roperty immediacely bef�ro the taking is equal to or grcater than the a.maunt af t!►e n�m�
<br /> acoured by tbla Securlty ln�trument imiriedl�uly befare tfie taking,anless 8orr,ower and l.endar otherwire�gc�eo ie writing.
<br /> cha,sums secund by this 3ccuriry InstnurKnt shall be rcduced by the amount af the proceeds muldplied by the t"oltowing
<br /> fn�ctlon: (a)the rotal umount of t�te swi�a secwed i�nmediatcly is:3Far.;tfic tolcing.divIded by(b)the fair mc�.rket vn►n�of the • �
<br /> Pmperty Immediately bofore the t�lcing. Any balance ahall bc paid to$orrower. Ia tho event of a putisl t�king of the
<br /> property in which the fair market valuc of thc Ftuperty immediauly befone the takIng is tes9 than the runount of the sums
<br /> secund immr.dIately bafore the taking, unless Borrower and Lender otherwtse ngree in writing or unless appltcable law
<br /> atherwise provides,the proceeds ahall be appUed to the sums seCured by this Se�tuity insuumer►t whethcror not the sums unc
<br /> ehen due.
<br /> 1f the Property is abandoned by Boitower.or if.after notics by Lender to Bomower that the condemnor offera to meka
<br /> an award or settle a claim for damagcs.}3orrower fails w rsspond to Lender wittun 30 days aftcr the 3uta the natice is glveA,
<br /> l.ender is authorized to coUect and apply ttae pr+nceeds,at Its opdon,either to restoration or repair of the Propeny or w the
<br /> suma secured 6y thls Security lnstrument,whether or not then due.
<br /> Ualess[.ender and Borrower othenvise agree in wricing.any appUcutIon of proceeds to pr�neipal shat�not extead ar
<br /> �ostpone the dae date of the montiily payments referred to in paragaphs t and 2 or chnn$e th�:amount of such payments.
<br /> iL Horrower Not Reteased; For6�arance By Lender No! a Waiver. Extension of the dme far payment oi
<br /> modification of arhortizatIon of the su�a s�cumd by this Securiry Insm�ment granted by Q.ender ta any successor In inten�sl
<br /> of Aormwer shall not operata to reloase th�UabiUty of the ori�inel Bomower or Bmrower�s successors In interes�L.ender
<br /> shaU not be rec�uined to.,commence proceedings egainst any successor in interest or refuse to extend time•for paymeat or
<br /> otherwise ra�amorti�ation of the sums secured by this 5ecurity Instrument by reason of any demand made by the originul ,
<br /> Borrower or Bomnwer's successots In inte��. Any forbearance[�y i.ender in exercising any nght or mmedy khall noi be a
<br /> weives oP ur pneclude rhe exerclse of nny dght or�medy.
<br /> 12. 3ucceswrs end Asslgns Bouadi Joint and Several Liab[tity;Co-stgners. The covenants and ugreements of tliis
<br /> Security[nsuument shall bind And benefit the successors and ussigns of Lender and Borrower,subject w the provisions of
<br /> paragraph 17. Bnrmwer's covenants and agceementk shall be joint and several.Any Bonower who casigns this Securiry
<br /> Inatrument bs�t does not execute the Note: (a)is co-slgnIng thia Security Instrument only to mongage,grent and convey that
<br /> Borrower's interest in the Property under th�terms of thls Securlty Instrument; (b)is not personaUy obligated to pay the sums
<br /> secured by this Secudry Insbumen�and(c) agrees that Lender and any other Borrower may agree w eatend.modify.forbear
<br /> or make any accommodadons with tegerd to the tem►s of this Security Instrument or the Nate wlthout that Borrower�s
<br /> consent
<br /> 1�. a.oa�C�arg�. If ihe lasss �ecssred b; shis Sezurity Ins�mpnt i� ���bjecc �o a law which sets maximum loan .-
<br /> cherges,and thet law ts finaUy interpreted so that the interest or other loan charges callected or w be collected in conaection
<br /> with the.iman oxceed the permitted limlts,then: (n)any such toan charge shnll be reduced by the amount necessary to reduce
<br /> the charge.to the permttted limit;and(b)any sums almady callected from Borrower which exceeded pemutted limits wIll be
<br /> refunded to Borcower, l.ender may choose to make this refund by reducing the principnl owed under the Note or by making u
<br /> , . dIrect payment to Borrower. If a refi+nd mduces principal.the reductlon will be trented us n paittel prepayment without any
<br /> • . prepayment charge under the Note. �
<br /> 14. 1Votices. Any notice to Bomower provideJ for in thls Security Instrument shall be given by.de�lverins it or by
<br /> mniling it hy firat class mail unless applicable law requIres use of another method.'[1ie notice shall be directed to the Pcopetty
<br /> Address or any other address Soirower de�ignates by nottce to Lender. A�ny notice to l.ender shall be gtven by ftrst cless
<br /> muil to L,enderis address stsited herela ar eay othet address Lender designates by not[ce to Borrower. Any norice provtded for
<br /> In this Security Inswment ahall be deemcd to hAVe been given to Borrower or l.ender when given as provfded in this
<br /> p�ragr.sph. �
<br /> 15. Governtng Lawt Severabflity. This Security Instrument shall be governed by federal law and the law of the
<br /> jurisdiotion in which the H�operty Is lmcuted. In the event that tu►y�rovision or cluuse of this Securlty Instrument or dte Note —
<br /> conflicts With applIcable law,such conflict shall not affect other provisions of this Security Instniment or the Note wh{ch cen
<br /> be glven effect wIthout the contlIcting pravis[vn. 'Ib this end the provfsions of this Secudty Instrumen[ and the Note are __
<br /> declared to be saveratil�. '
<br /> 16. Borrower'e Gopy. Borrower shsll be given one conformed ropy of the Note and of thix Security Instrument. _
<br /> � 17. 'lhAnsPer ot the Property or a B�eneflc[al Interest in Borrower. If all or any pa�t of the Properry or any interest in _
<br /> it is sold or tranaferre�J(or if a beneficiel interest tn Borrower!s sold or trnnsferred and Borrower is not n naturut penson) _
<br /> without Lenderk prior written consent.Lender may.ut its opt�on.requlre immediate payment in full of all sums seciued by ��:
<br /> thla Securtty Instrument. Howevei.this optIon shall not be exerctsed by Lender if exercIse is prohjbited by.federal law av of r
<br /> the date of this Seturlty Ansaumen�
<br /> If Lender exerciscxs this option,Lender shall give Boirower notice of acceleration. The notIce shaU pn�vide a pedod of �
<br /> not less than 3d days from the date the nodce is delivered or mailed withL�which Borrower must pay all sums secured by this –
<br /> � Security Insuvment. If Borrower fai4s to pay these sums prior 3o the expiradon of this period, i..ender may invoke any =
<br /> , remedies pecmitted by thls Security Inst�urtaent without further notice or demand on Aomower. -
<br /> 18. Borrower's Rfght to Reinstut�_ If Bomnwer meets cer�ain condiHons. Borrower shall have the dght to i�ave -
<br /> , enfo�ement of Wis Security Instrument discontinued at any time prior to the eurlier of: (u)S days(or such other period as �–_
<br /> �
<br /> Single Famliy--Faas�M Mael�lreddk Mac UIVIFORM iA1STRUMBNT--Unffortn Covenants 9l90 (page 4 oj6 pagesl -
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