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<br /> • condcmnation or other tak ing of any part of the Property,or fo�•conveyunce in lieu of conde mnation,are liereby a.5signed und -
<br /> , shall bc puid to Lcnder. ,_,._
<br /> In the event of a total tuking of thc Property, the procceds shall be �pplied to Ihe sums sccured by this Sccurity �'+�'"�`'"`t'�"-
<br /> Instrument,whcther or not then due, with any cxccss paid to Borrower. In the event of n partial tnking of Uie Propeny 9n
<br /> • which thc fair murket vnluc of thc Property immcdiatcly bcforc the taking is cqual to or gre atcr than thc amount of ths sums �=r���----_
<br /> secured by this Securiry Instrumcnt immcdiately beforc ihc taking,unless�orrowe�-and I,CnJ�r otherwise agrcc in writing, r -
<br /> • the sums tiecured by this Security Instrument shall be reduced by the amount of the prac�eds multiplicd by tt�e fo;lowing
<br /> frnction: (a)the total amount of the sums secumd immediately before the taking,divided by(b)the fnir market value of the
<br /> . Property immediatcly before the taking. Any balance shall 6c paid to Borrower. !n the event of a partial taking of the ---—
<br /> Property in which the fair market value of the Property immediately before the taking is I�ss than the amount of the sums —__----
<br /> secured immediately before the taking, unless Borrower and Lender otherwise agrce in writing or unless applicnble law
<br /> otherwise provides,the procecds shall be applied to the sums secured by this Security Instmrnent whether or not the sums ure
<br /> `_ _
<br /> t en due. �__ ___
<br /> !f the Property is abandoned by Borrower,or if,after notice by Lcnder to Borrower ihat the candemnor offen to makc �
<br /> an award or settic n claim for damages. Borrower fails to respond to Lender within 30 days aflcr thc date the natice is given.
<br /> Lender is autharized to collect and apply the proceeds,at its option, either to restoration or repair of the Property or to t�ie
<br /> sums secured by this Securoty Instrument,whetl�er or not then due. _—
<br /> ' • Unless Lender and Borrower otherwise agree in writing,any application of procceds to principal shall not extend or
<br /> postpone the due date of thc manthly paymer�ts referred to in pnragraphs I and 2.or ch:�nge�he amount of such payments.
<br /> I1. Borrower Not IYeleased; F'orbeflrpnce By Lender Not a Waiver. Extension of thc time for Fiaymer.t or �— -
<br /> modificution of amortization of the sums secured by this Security Instrument grunted by Lender to any successor in inttrest --
<br /> of Iiorrowcr shall not operate to release the liability of the originul Borrowcr or Barrower's successor:s in interest.Lender =
<br /> • shall not bc required to commence proceedings against any successor in interest or refuse to extend tinte for payment or t.
<br /> , otherwise modify amortizat ion of thc sums secured by this Security Instrumcnt by reason of any demand made by the original �` .-�
<br /> Bonower or Horrower s successors in interest. Any forbearance by Lender in exercising any right or remedy shall notbe a =°•--
<br /> waiver of or preclude the excrcise of any right or remedy. �k�'`---
<br /> 12. Succe.ssors and A�slgns Aound;Joint and Several I.iability;Co-si�ners. Thc covenants und agreements of this ;_ ��:.�--
<br /> - Security Instrurtent shall bind and benefit the successors and assigns of Lender and Borrower, subject to the pravisions of �6!�•;`
<br /> p:irngraph i 7. Borrower'.s covenants and agreements shall be joint and severaL Any Borzo�er who co-signs this Security ..� '-----
<br /> Instrument but does not exewte the Note: (a)is co-signing this Security Instrument only to rnortgaFe,grant and convey that •'�!"!�
<br /> Borrower'.s interest in the Propeny undcr the terms of this Securiry Instrument: (b)is not personaUy pbligated to pay the sums � �
<br /> secured by this Security Ins[rument;and (c)agrees that Lender and any other Borrower mAy agrce to extend,rnodi fy,forbettr '! ' '
<br /> or make ;u�►y accommodations with mn�rd In fhr trrmc nf rh:� C��ST�:� ::;:�';;�ri vi ,i� nOli: iv�iiwui lll�t 1301TOWBfS �}' �,'�tf
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<br /> „ 13. Loun Charges. If the loan secured by this Securiry Instrument is subje�t to a taw which sets rnaximum loan " '��'
<br /> charges,and that law is ftnally interpmted so that the interest or other loan charges collected orto 1�collected in eonnection
<br /> with the loan exceed the permiteed limits,then: (a)any such loan charge shall be redu�ed by ihe amount necessary to reduce
<br /> the charge ro the pennitted 1 imit;and(b)any sums already collected from Borrower which ex ceeded pertnitted limits will be
<br /> refunded to Bon•ower. Lender may choose to make this refund by reducing the principal owed under the Note orby making a :;'
<br /> direct payment to Borrower. If n refund reduces principal,thc reduction will be treated as a partial prepayment without any �'
<br /> ' prepayment charge under the Note. ; .•;F ,,
<br /> � l4. Notices. Any notice to Borrower provided for in this Securiry Instrument shall bc given by dclivering it or by '.c.YCi�"
<br /> • mailing it by first rlass mail unless applicable law rcquires use of another method.Thc noticc shall be directed to Ihe Property ���
<br /> Address or any other address Borrower desi€nates by notice to Lender. Any notice to Lender shall be given by first class � � ��'1. �
<br /> mail t�Lender's addresti sr.ucd hcrcin or any other address Lendcr dcsignxtes by noiicc to Borre�wer. Any notice provided for � ? • ;��-==-
<br /> in this Securiry Instrument shall be deemed ro have heen given to Borrower ar Lender w}�cn given as provided in this �� � �� - �•
<br /> paragruph. ' �-
<br /> 15. Governing Law; Severubil(ty. This Security Instrumcnt shaU be govcrned by fc_deral law and the luw of the ��
<br /> jurisdiction in which the Propeny is located. In the event that any provision or d�use of this 5ccurity Instrumen�or the Note i ��
<br /> conflicts with applicable law,such r.ontlict shall not affect other provisions of this Securiry Imtrument or the Note which can � �";•ar
<br /> be given effect without the conflicting provision. To this end the pmvisiom of this Scrurity Instrument and the Note an� �+%
<br /> declared to be sevcrable. �
<br /> 16. Borrower's Copy. Borrower shall he given one conformed�opy of the Notc;uid o(this Security Instrument. � " . %'
<br /> . 17. 'IFAnsfer of the Property ora Beneficial Interest In Borrnwer. If all or any part of thc Pmpeny or any intc�•est in ' ��• r,
<br /> it is sold or trauisferred (or if a beneficial interest in Borrower is solJ or transferrcd and Burro�v�r is not a natural person) '
<br /> without Lender's prior writtcn consent,Lender may,at it�c�ption,rcquin�immediaie paymrnt in full of all swns s�rured by '
<br /> �' this Security Instrument. Hova•ever,this upiion xhull not tx exercised by Lender if exercise is�rohibited by fcdenl law,iti�if '
<br /> ' the datc of tliis Security Instn.�ment. ..
<br /> If Lender exerci.es this option, Lender shall give Borrower noticc of acceleration. T'he no�ice tihall pr��vide a period of' !
<br /> ❑o+less than 30 days from tho date the notice is delivered or mailed within which Borrower rnu�i pay a11 sums,rrured hy this
<br /> Sccurity Instrumcnt. If Borraw�r fails to p.�y thesc sums prior to thc cxpiration of this �xriuJ, I_ender may invokc any
<br /> remedies permitted by Ihis Securiry[nstniment without further notice or dcmand on Borrowcr. �
<br /> 18. Borrower's Ri�ht to Relnsta4e. if B�rrower meets certain conditions, Borrower yhall h:rv� thr right m have
<br /> enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a)S days(or such uther prri��d as
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