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200213515
<br />Proceeds shall he applied to the sours secured by this Security Instrument, whether or not then due, with the excess, if any,
<br />paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2.
<br />In the event of a total taking, doslmction, or loss in value of life Property, the Miscellaneous Proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the
<br />Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the soars
<br />secured by this Secunb InStnnllcra innnediatcly before the partial taking, destruction, or loss in value, unless Borrower and
<br />Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the
<br />Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums sccurcd inlnrcilrucly before
<br />the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the
<br />partial taking, destruction, or loss in value. Any balance shall be paid to Borrower.
<br />In the event of a partial taking destruction, or loss in value of the Properly in which the fair nharkc( value of the
<br />Property irmncdimcly before the partial Irking, destruction, or loss in value is less than the amount of the sums secured
<br />inmhediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing
<br />the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not (INC SURIS are then
<br />due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as
<br />defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender
<br />within 30 days after the dale the notice is given, Lender is aulhorizcd to collect and apply the Miscellaneous Proceeds either
<br />to mSloralian Or repair of the Property or to the sums secured by this Security Instrument, whether or not then due.
<br />`Opposing Pam' means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has
<br />a right of action in regard to Miscellancom Proceeds.
<br />Burrower shall be in default if any anion or proceeding, whether civil or criminal, is begun that, in Lender's
<br />judgment, could result in forfeiture of the Property or other national Impairment of Lender's interest in the Property or rights
<br />under this Security Instrument. Borrower can care such a default and, if aceclemlion has Occurred, reinstate as provided in
<br />SCntlolr 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture
<br />of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The
<br />Proceeds of any award or claim for damages that are attributable to the impairment of Leader's interest in the Property are
<br />hereby assigned and shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order
<br />provided for in Section 2.
<br />12. Burrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any
<br />Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of
<br />Borrower. Lender shall not he required to continence proceedings against any Successor in Interest of Borrower or to refuse
<br />to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of
<br />any demand made by the original Borrower or any Successors in Interest of Borrower- Any forbearance by Lender in
<br />exercising any right or remedy including without limitation, Lender's acceptance of payments from third persons, entities or
<br />Successors in Interest of Borrower or in amounts less than the amount then due, shat not be a waiver of or preclude the
<br />exercise of any right or remedy.
<br />13. Joint and Several Liability; Co- signers; Successors and Assigns Bound. Borrower Covenants and agrees
<br />ilia( Bornwer's obligations and liability sluff be joint and several. However, any Borrower who co -signs this Security
<br />Instrument but does not execute the Note (a 'co- signer ") (a) is co- signing this Security hrslmmenl only to mortgage, grant
<br />and convey the co- signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated
<br />to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend,
<br />modify, forbear or make any accommodations with regard to the terms of this Security InStmrrrent err the Note Wilmot the cn-
<br />signer's consent.
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