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<br /> " condemnation or other taking of any part of the Property,or for conveyance in lieu of condemnation,are hereby nssigned and +,,
<br /> shall bc paid to Lendcr.
<br /> . . In the event of a total taking of the Property, the proceeds sliap bc applieJ to thc sums sccured by this Securit�
<br /> Instrument,whcthcr or not then due,with nny excess paid to Borrower. In the event of a partial taking of the Propeny in +„�
<br /> which the fnir market vulue of the Property immedistely before thc tnking is equal to or greater than the amount of thc sums �•
<br /> secured by this Security Instrument immediately before thc taking, unless Horcower und Lei�der otherwise agree in writinE,
<br /> " the sums secure:d by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following
<br /> fraction: (a)the tota!amount of thc sums secured immediately before thc takin�,divided by(b)the fa+r market value of Ihe
<br /> �� Property immediately befot�e thc taking. My bulance shaU be paid to Borrower. In the evcnt of a partial takin� of the �
<br /> Property in�vhich tho fair markct valuc of the ['roperty immedintely L�efare tl►e taking is less than the am�unt of thc sums
<br /> secured immedintely tx;fore the taking, unless Borrower and Lender otherwise agree in writing or unless applicable law »�.
<br /> otherwise provides,the praceeds shaU bc upplied to the sums sccurcd by this Security Instrument whethcr or not thc sums ar� �''�m�
<br /> „ then due. �"`�:
<br /> .. ' If thc Propcny iti abandoncd by Borrowcr,or if,after noticc by Lcndcr tn Hurrowcr that�hc condcmnor nffcrs to mnkc ��"",`,.'�-
<br /> un mvnrd or setQc a claim for d.�mages,B�rrowcr fails ta respond to Lendcr�vithin 30 dnys aftcr thc datc thc notize i,liiven, Y �
<br /> Lender is nuthorized tn collca .md upply the proceeds,at its option,cithcr ro restorurion or repair of the Property or t�Ihe
<br /> sums sccured by thiti Sccuriry Instrwncnt,whethcr or not thcn duc.
<br /> Untess l.cnder nnd Hcuruwcr uthcnvisc ugrce in writing, uny applicution of procecds to principal shall not cxtend or �__
<br /> pustprnic the due dute of thc monthly payments rcferred to in purngr��phti I and Z or chunge thc amount of such paymcnts.
<br /> � „ 11, liorrower Not Releused; Forbenrance Eiy Lender Not a Wniver. Extension of thc timc for paymcnt or �::,
<br /> modificirtion of nmortir.ntion of thc rums sccured by this Security Instrumcnt grunted by Lender ro any successor in interest
<br /> of Borruwcr shull ni�t opctntc ro rcleasc thc liubility of the oriFinal Borrowcr or Barrower's successars is� intcrest. Lender
<br /> ' � tihull not be r�quired [o commence proceedings against any successor in interest or refuse to extend time for payment or
<br /> othcrwisc modify amortizution of the sums secured by this Sccurity Instrument by re:uon of any demand madc by th;orlginal
<br /> Borrower or Borrowcr'.s successurs in intcrest. Any forbeurance by Lender in cxercising any right or remedy shall not be a
<br /> " waiver of ar preclude the exercise of any right or remedy.
<br /> „ 12. Successors und Assigns Bound;Jof�t nnd Several Ltabillty;Co•signers. The covennnts and agreements of this �
<br /> , Securiry Instrument sh�ll bind and benefit the successors and assigns of Lender and Borrower,subject to the prsvisiuns of
<br /> paragraph 17. Horrower's covenants and agrcements shall be j�int and several. Any Horrower who co-signs this Security
<br /> Instrument 6ut does not execu[e �he Nore� rn�i��n-��o��na rh��.c����.�w r����,�sr.ent^n!;!�:::�nnan�,b:�R:�pL��pi;y,^,�,��.j
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<br /> " Borrower 5 mterest in the property under the terms of this�ecurity Instrument; (b)is not personally obligated to pay the sums
<br /> „ secured by this Security Instrument;and(c)ngrees that Le7der and any other Borrower may agree to extend,modify,forbear —
<br /> , or makc any accommodations with rcgnrd to thc terms of this Security Instrument or the Note without that Borrowcr's
<br /> ' consent,
<br /> 13. Loan Churges. If the loan secured by this Security [nstrument is subject to a law which sets mlximum loac�
<br /> char�es,and that law is�nally interpreted so that the interest or other loan eharges collected or to be collected in conner.tio�
<br /> with the loan exceed the permitted limits,then: (u)any such loan charge shall be reduced by the amount necessary to reduce
<br /> the charge ro the permitted limit:and(b)any sums already collected from Borrower which exceeded permitted limits will be =.
<br /> refunded to Borrower. Lender 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 rcduction will be treated as a partinl prepayment without any ���
<br /> prepayment charge undcr thc Note. �'-°
<br /> . • 14. Nottees. Any notice to Borrower provided for in this S�curity Instrument shall be given by deliverin�it ar by '.
<br /> mailing it by first class mail unless applicable luw requires use of another method.The notice shall be directed to the Property �-•-
<br /> • Address or any other address Borcowcr designares by notice to Lender. .4ny notice to Lender shall be given by first class �'"-`
<br /> mail ro Lender:s address stated hercin or any other address Lendcr dcsignates by noticc to Borrower. My noticc provided for �-r"_
<br /> in this Security Instrument shall be deemed to have been given to Borrower or Lender �vhen given as provided in this 'r'
<br /> paragrnph.
<br /> 15. Governtng Lnw; Severabi�ity. This Security Instrument shall bc govemed by fcderal law and the law of the '.`;s'�
<br /> jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note
<br /> . conflicts witl�upplicuble luw,such conflict shall not sffect othcr provisions of this Security Instrument or the(Vote which can �
<br /> . � , be given effect without the conflicting provision. To this end the pruvisions of this Security (nstrument and the Note are
<br /> • declared to be severable.
<br /> • 16. Borrower's Copy. Bonower shall be given one conformed copy of the Note and of this Security Instrument.
<br /> - 17. Trt�nsfer of the Property or u Bene�cial Interest in Borrower. If all or uny part of[he Property or any 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 person)
<br /> without Lender's prior written consent,Lender may,at its option,requirc immediate puyment in full of all sums secured by
<br /> this Security[nstrument. However,this option shall not be exercised by Lendcr 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 Borrou�er notire of acceleration. The notice shall providc a period of -
<br /> not less than 30 days from the date the noticc is delivemd or mailed within which Borrower must pay all sums secured by this
<br /> Security Instrument. If Borrower fails to pay these sums prior to the cxpiration of this period, Lender may invoke any
<br /> remedics permitted by this Security Instniment without further noticc or demand on Horcower.
<br /> • 18. Borro�ve�'s Right to Reinstate. If Bomowcr mcets certain conditions, Dorrowcr shaU have the right to have
<br /> enforcement of this Security[nstrument discontinued at any time prior to thc enrlier of: (a) 5 days (or such other period as
<br /> Smglc Family-•fnnnle Mac/El�eddle Mnc UNIFOItM INSTRUM11@:NT-•Uni(urm C'ovcnanh 9/90 r���xY a�,J6�,narfl I
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