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<br /> - :}:� ' caademnation or otker taidng of any part of the P�nperty,or for conveyance in lieu,of condemnation,aie hereby assigned aad
<br /> -',�i�� ':�•��,',�. �e' • siiall be paid to Lender. • ` • ' ' ' `
<br /> . E.• . � • � � In the eveni of a mtal:taking of the Roperty,the groceeds shall be agplied tn tfie suins secured,by dus Security ,.�.
<br /> � ; '. Insbvment,whether or not then due;witt�any excess pa'K!!to Borrower. Tn the event of a partiul taiting of th�Property in
<br /> • which the fair market yaIue of the P,ioperty immediately befare.the taIang is equal to orgreater than the amount af the sams �
<br /> " � ' " sec¢red by this Security Instrument immediai�ly before tbe taking,unless Bnaower aad Lender otherwise agree in writing, •
<br /> -- _�` � tiie sams secu�ed by this Security Tnsmimeat shall be reduced iry die amo�t of the proceeds mnIriplied by the following � - .
<br /> ` + fractionr..(a)the total amoum of the smns sec�ed immedi�tety before the taking,divided by(b)the fair marget vaIu�of ihe
<br /> � Praperty immediately before the taking. Any balance sfialt be paid W Borrower. •In Elie event of a pardial taking of tlie
<br /> �Progeny in wluch the fair mazket vaiue of the Pcoparty immediately before the taking is less ihan the amo�mt of tbe sums ��
<br /> , �- , •. � secured immediaCeJy befo:e the takinp,,tmIess Hormwer and L.euder othe�wise agree ut writu�g or�m!ess applicabte law
<br /> � � � , � `otherarise pmvides.the prnceeds shall be applied to the sams secUred by this Secuiiry Instcumem whether ar nat the sums ate • .
<br /> '-. " " , theu dne. . �
<br /> _ `� • . ., . If the Pcoperty is abaadoned by Borrower.or i�after notice by Lender w Borcanrer ihat the condemnor offers to matoe .
<br /> " ah award or settle a claim far damages.Borrower fu'!s to respond to Lender within 30 days afYer the date ttie notice is given,
<br /> ` Lender is authorized m ooilect and apply the proceeds,ai its opiion,either to restoration o�repair of the E'koperty or to the
<br /> � , ' sums s�cuced by this Secmity Instrument,whether or not tHc�dse. �
<br /> � Untess Lender aad Boirower otherwise agree in writing,any application of proceeds to giincipal shalI not extend or
<br /> � ' pertpone the due date of the montlily paymeats t�efemed to in parag�aphs 1 and 2 ot cdange the amoant of such payments.
<br /> • 11. Barrower Not Reteased; For6earanw Sp I,eader Not a Waiver. Eutension of the time for paymem ar
<br /> � •� modification of amortization of the sums sec�red by this Security Insmrment granted 6y Lender to any saccessvr in interest
<br /> ';� of Bomawer shall not operate to release the liability of the origina]Borrower or Barrower's successors in interest.Lender '
<br /> �. ...__..._._•. _:. . shal!not t+e ' to commence rnceedings agamst any successar in intecest or refuse to extend time forpayrrient.or
<br /> ; :� r--�- - -.._.__ �, Y t3' Y Y _ y � . .
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<br /> . �' , o�hervnse modi -amortizauon o3 t�e suws secuied�G t�iis�ecun �restncmenf i�reason of an demaud made b the ori '
<br /> ", . . , . •:. � Borrower or Bormwer's saccessocs in interesL Any forbearance by Lertdor in eaetcising any right oi remedy shall not be a ,
<br /> � � �• waiver of or preclude the exer+eise of any right or remedy. • •
<br /> �. . , . . � •�.� I 12. Suocessors and Ass3gns$ound;doint and Several Lla6ility;Co-sIgners. '(he covenanu and agr�ements of this
<br />-;' _.�,, _ ...•.-. ...._ � Security Instrument sha116ind and 6ertefit the successois and assigns of Lender and Borrower.snbject to the provisions of . — _ �
<br /> •� paragraph I7:Hormwer�covenartts and agrPe�enis sliall be j5int and several.Ae;i..T;griower who co-si this Securi
<br /> � � t5'
<br /> . , � •( Insuument but dc:s not execute the Note: (a)is co-signing this Security Instrument only to mortgage,grant and convey thai ' -
<br /> � . . �, Sorrower's interest ia the Property under the tertns of this Security Instrumenx (b)is aot personally obligatec!ta pay the sums .
<br /> . ,.- ; secured by this Security Instrumenx and(c)agrees that Lender and any other Borrower may agree to extend.modify.forbear
<br /> - �•.,. or make any accommodations with regard to the terms of this Security Instrament or the Note without that $orrower's
<br /> • consenG •
<br /> �� , � ; . . � . 13. Loan Charges. If the loarl secuted by this Security Instrument is subject to a law which sets maximnm loan
<br /> , charges,aad that law is finally interpreted so that the intenst or other loan chazges collected or to be collected in connection
<br /> - � with the loan exce.ed the permitted limits,then: (a)any such loap charge shall be ndaced 6y the amount necessary to reduce
<br /> • . tlte charge to the permitted limit;and(6)any sums already collected from Borrower which exc�eded permitted limiu will be .�-�x
<br /> ' '''� tefunded to Sorrower. Lender may choose to make this rePond by redacing the principal owed under the Note or by ma&ing a
<br /> � . � direct� a ent to Bomawer. If a refund reduces rinci al,the reduction will be treated as a ardal m a �'�� •'
<br /> - t �: P Ym P P P P A Yment without any
<br /> p�payment charge under the Note. � �' �
<br />__ �� � �` ' � _ 14. Notiees, Any notice to Borrower provided for in[his Sesuriry Instrument shall be given by delivering it or by '�'� -�
<br /> • mailing it by first class mail unless applicabte law requires use of anothes method.71ie notice sha11 be directed to the Property ,/'•=' .
<br /> � � • . • Addcess or any other address�orrower designates by norice to Lender. Any notice to Lender shalI be given by first ctass �,��
<br /> �'• � mail to l.erider's address stated herein or any other address I.ender designates by notice to Borrower. Any nouce provided for � �'= ���'�
<br /> ,. ` � in this Securi Insttument shall be diemed to have been � =�.i�=."°' ��
<br />���' ` �.`";.�y..�� ty given to Bolrower or Lender when given as provided in this . ��
<br />— . ,. .� P�B�P� .� •:-;r��::
<br /> -° - " 15. Governing Law;Severabillty. This Security Instrument shall 6e govemed by federal law and the law of the u . �
<br />_ • • '• �� jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note � ' .;�tr . ,:;.
<br /> ,.. � conflicts with applicable taw,such conflict shall«ot affect othet provisions of this Securiry Instrument or the Note which can . • -
<br /> _ � . � be g iven efkx:t with o u t t h e c o n fl i c t i n g p r o v i s i o n. T o t h i s e n d t h e p ro v i s i o n s o f t h i s S e c u ri ry I n s t r u m e n t a n d t h e N o t e a r e � ���"��� '�
<br /> . � declared to be severable. � ��' ' •�
<br /> • '16. Bosrower's Copy. Borrower shall be given one wnformed copy of the Note and of this Security Instrument. •
<br /> ° 17. 'IiransPer oY the Property or a Beneficiai Interest in Borrower. If alt oT any parc of the Property or any interest in - • -• :�� � �
<br />, ' it is sold or transferred(or if a beneficial interest in Borrawer is sold or transfened and Borrower is not a�atural person) '
<br />- „ withoat Lender's prior written consenG I.ender may,at i�s option,require immediate pa}mtent in full of atl sums secured by � .
<br />- - this Securiry Instrument. However.this option shall not be exercised by l.ender if exenise is prohibited by federal law as of ' �
<br /> k . ' . the date of this Security Inswmen� � . •.
<br /> - • if Lender exercises this option,l.ender shall give Borrower notice of acceleration. The notice shal!provide a period of ' � �
<br /> not less�than 30 days from the date the notice is delivered or mailed within which Horrower must pay all sums secured by this
<br /> ' '� `� � Secutiry'Instrumen� If Botrower fails to pay these sums prior to the eapiration of this period,Lender may invoke any .' �
<br /> �" - � ' temedies pem�itted 6y this Security Instrument without funher notice or demand on Borrower.
<br /> _ � 18. Borrower's Wght to Reinstate. If Borrower meets certain conditions,Borrower shall have the right to have ' � . •
<br /> _ , enfor�ement of this Security fnstrument discontinued at any time prior to the earlier of: (a)5 days(or such other pedod as
<br />_. .• . � � " . . Sing[e fiamily--Faflnle Mae/Freddie Mac UM�OBM iIY377tUMENT-Uniform Covenanu 9/90 Ipogs 4 nf 6 puges)
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