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<br /> condcmnaliuu ar othcr taking ct'ony part uf tlu:Pio(�srty,or gor cunvcyancc io licu of cu�td�mna►io,i,r�rc lurcby n;°;I,;n�il,!r,�l
<br /> �� �' shall bc paid to Lendcr. �='_
<br /> . In thc cvcnt of a mtnl tnking of thc I'm�rty,thc procceds shnll bc applicd ta th: sun�s scceircd by th:s Scxuriry
<br /> - . - Instrumcnt, wh�thcr or not the�i due. v�ith any excess paid ¢u porro�vcr.. In thc evcnt of a panial tuking af ti�e C�roperty in �,�;
<br /> • which thc fair market value of thc Property immediately Ix:fore th�taking is cqunl to ar grentcr than thc nmount�f the sums _
<br /> secured by this Security Intitrument immcdintely beforc the taking,unlcss Borrower nnd I.cndcr othcnvisc n�rce in�ariling,
<br /> . ° thc sums sccu�d by this Sccurity[nstrument shall be reduccd by the nmount of the pracceds muhiplied by tn� Folluwi��g �`
<br /> ' fmction: (n)the total amount of thc sums securcd immediatcly before�he tnking,divtdcd by (b)tho fnir market valuc of thc
<br /> Property immedistely �efore thc taking. Any balance shall b� paid w Borrowcr. In the cvcnt of a partinl tnkin� of the ��...
<br /> � � Property in which th� fair market valuc of the f7operty immediutcly b�farc the tnking is Iess thc�n the amoant mf the sijms �-`
<br /> sccurcd immediately before thc taking, unless Uorrower and Lcnder othenvisc agrce in writing or unless npplicnble law
<br /> . ." othcnvisc provides,the procceds shall bc applied to the sums sccured by this Secutity Inswmcnt whether or not thc sums are -
<br /> ' then duc.
<br /> If thc E'roperty is �bandoned by Borro�ver,or if,a6tcr notice by Lendcr to Borrower that the condemnor�ffen to muk�
<br /> " an aviard or setde a cl.zim far damages,Borrower fails to respond to Lender within 30 dnys after the date the nuttce is given. ����
<br /> ' Lender is authorized to collect and apply the proceeds, st its option,either to restoration or repair of the Property or to the �,
<br /> '° sums secured b this Securiry(nstrument,whether or not then due. ��
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<br /> Unlcss Lcnder;u�d Borrower otherwise agrce in writing, any application of proceeds to principal shall not cxtend ar . •
<br /> postpone the due date of the monthly payments referred to in paragraphs l and 2 or change the amount of such payrnents. r..
<br /> 11. Borrower Not ReleASed; Forbearsince By Leetder Not u Waiver. Extension of the time for ryaymcnt or �:'._
<br /> ' � . modification uf umuitization of the su+,is s•:curcd by this Security lnstrument gmnted by I.e�der to any successor in intemst i•�
<br /> of Bormwer shall not operate to release the liability of the ori�initl Bo�rower or Borrower's successon in interest. Ix.ndcr �-
<br /> � . � shall not be required to commence proceeclings against any successor in interest or refuse to extend ume for payment or ;
<br /> othcrwisc modify amortization of the sums securcd by this 3ecurity lnswment by reason of any demand made by the original
<br /> � Borrower or Borrower's succes�ors in interest. Any forbearance by Lender in exercising any right or remedy+hall not be a ��
<br /> waiver of or pre�ludc the exercise of any right or remedy. '�''�
<br /> 12. Successors and Assigns Bound;Joint and Several Liability;�o-signers. The covenants and agreements of this �-v_
<br /> Security Instrument shall bind and benefit the successors and a:�signs of Lender and Borrower, subject to the provisions of
<br /> pnragraph 17. Borrowerc covenants and agreements shall be joint and severnl. Any Borrower who co-signs this Security �
<br /> Instrument but does not execute thc No�e: (a)is co-si�ning this Security Instrument only to mortgage.�rant and convey that �;=:
<br /> Borrowcr s interest in the Property under the terms of th is Security Instrument: (b)is not personally obligated to pay the sums = =
<br /> secured by this Security Instrument:3nd(c)agrees that Lender und any oth�r Borrawer may agree ro extend,modify,forbear �..
<br />_ ______ or mxke any accommodations with rcgard to thc tcrrns of this Security Instrument or the Note withouc thnt Borrowcr's -_
<br /> - conscnt.
<br /> 13. I.oan Char�es. If thc loan secured by this Security Instn►ment is subject to n law which sets ma�cimum loan
<br /> •� charges,and that Imv is finally interpreted so that the interest or other loan charges collected or to be collected in connection
<br /> �vith the loan excecd the permitted limits,then: (a) any such loan charge shnll be reduced by the lmount necessury to reduce
<br /> the chlrge to the pertnitted limit:and(b)any sums already collec[ed from Borrower which exceeded�em►itted lirnits will be
<br /> mfunded to Bono�;er. Lender may choose to make this refund by reducing the principal owed under tho Note or by rnakin�a
<br /> „ direct payment to Borrower. If a refund redures principal, the reduction will be tre�ted as u partinl preplyment without any
<br /> -. prepayment chargc undcr the Note.
<br />_ 14. Not[ces. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by
<br /> mniling it by first class mail unless applicable law re;quires use o`another method.The notice shall be directed to the Proryerty
<br />_ , Addmss or an,y othcr address Borrower designaces by notice to Lender. Any notice to Lender shall be given by first class
<br /> � mnil to Lender's uddress stAted herein or any othcr uddress Lendcr designates by notice to Borrower. Any netice provided for
<br /> in this Sccurity Instrument sh111 be deemed to have becn given to Borrowe�or Lender when given as prov ided in this
<br /> paragraph.
<br />� • 15. Governing Lnw; 3everability. This Securiry Insaument shall bc govcmed by fcderal law and die law of the
<br /> jurisdiction in which the Property is located. In the event that any provision or clnuse of this Security Instrumenl or the Note
<br /> conflicts with applicable taw,such conflict shall not affect other provisions of this Security Instcument or dle Note which can
<br />• be givcn cffcct�vithout the conflicting provision. To this end the provisions of this Security Instrument and tl�e Notc nne
<br /> declared to be severable.
<br /> - �' 16. Borrower's Copy. Boirower shall be given one conformed copy of the lVote and of this Securiry Instnin�ent. .
<br /> 17. 1lrnnsfer of tlte Property ur a I3eneficial Interest tn Borrower. If all or�ny pan of thc P�uperty or any L.zerrst in
<br /> � it is sold or transfcrt�ed(or if u beneficial interest in Bomower is sold or transferrcd and Borrower is not a natural person) - •
<br /> , without Lendcr's priar wrinen consent,l.ender may,lt its option,rcyui�+e immediate payment in full of all sums securcd by
<br /> this Sccurity Instrument. Hotivever.this opiion shall not be cxercised by Lender if exercise is prohibitcd by federal law as of
<br /> • the dute of this Security Insttamcnt.
<br /> If Lender exercises this option.Lendcr shall give Borrower notice of accelcr.�tion. Thc nutice si�all provide a�.dod o;
<br /> � �� not less than 30 dayc from the date thc noticc is delivered or mailed within which Bnrrower must pay a!1 sums sccured by this
<br /> Security In�tniment. If Borro�vcr fails to pay these sums prior to thc expiration of this period,Lender may invokc a►sy
<br /> , mmedies pennitted by this Securicy Instrument without further notice or:lemnnd on[iorrower.
<br /> � 18. I3orrower's Right to Reinstate. If Borrower mects certain sondirions, Aotrowcr shall t�ave Q►e riglu to havo
<br /> � enforcement of this Securiry rnstniment discontinued at any time prior to the eariie�of: (a)5 days(or such other period as
<br /> ' - Singlc Fynily•-F7annle MaclYYcddk biac UNIFORII!1NSTltUh9F't�Jr-UniCami Covrnenu 9/90 (pagr�oj6 pagesl
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