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200701002 partial taking, destruction, or loss in value divided by (b) the fair immediately before the partial takmg, destruction., or loss in value. Borrower. In the event of a partial takmg, destruction, or loss in value of the Property in which thc Ittir market value of the Property immediately before the partial taking, destruction, or loss m value is less than the amount of' thc sums scelJred immedwJely before the partial taking, dcstmcl.ion, or loss in value, unless Borrower and I,ender otberwise agrec in writing, the Miscellaneous Procecds shall bc applicd to the sums secured by this Security Instrument whether or not the sums are then due, If the Property is abandoned by Bonuwer, or if, after notice by Lender to Borrower that the Opposmg Party (as defined m the next sentence) otTers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender IS authoriled to collect and apply the MIscellaneous Proceeds either to restoration or repair or the Property or to the sums secured hy this Security Instrument, whcther or not then due. "Opposing Party" means the thIrd party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right or action in regard to Miscellaneous Proceeds. Borrower shaH be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure such a dc/twit and, if acceleration has occurred, remstate as provided in Section] 9, by causing the action or proceeding to be dismissed with a ruling that, in I ,ender's JLLdgment, pr<:lcludes forfeiture or the Properly or other material impairment of Lender's interest in the Property or rights [mder this Security Instrument. The proceeds of any a ward or cia un fur damages that are attributable to the impairment of Lender's int<:lr<:lst in the Properly are hereby assigned and shall be paid to Lender. ^ll Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applIed HI the onl<:lr provided I(H' in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. I ':xtcnsion of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shaH not operate to release the liability of Horrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Bonower or to refuse to extend time for payment or otherwise modify amorti/,ation of the sums secured by this Security Instrument by reason of any demand made by the original Bonower or any Successors in Interest of Bonower. Any tl)fbearanec by Lender in exercising any right or remedy including, without limitation, Lender's acccptancc of payments from third persons, entities or Successors in Interest of Horrowcr or in amounts less than the amount then due, shaH not hc a WaIver of or predude the exercise of any right or remedy. 13. Joint and Several Liability; Co-si~ncrs; Successors and Assi!1;lls Bound. Horrower covcnants and agrees that Borrower" s obligations and liability shaH be Joint and several. However, any BOITow<:lr who co-signs this Security Instrument but does not execute the Note (a "eo-signcr"): (a) is co- signing this Security Instrument only to mortgagc, grant and convey the eo-signer's interest in the Property under the t<:lrlns of this Security Instrument (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, (()rbear or make allY acconnnodatiolls with regard to the tenns of this Security Instrumcnt or thc Note without thc co-signcr' s conscnt. Subject to the provisions oj' Section I X, any Succcssor in Intcrcst of Borrower who assum<:lS Bonower's obligations under this Sccurity Instrument in writing, and is approved by Lcnder, shall obtain all of 13orrower's rights and benefits under this Security Instrument. Bonower shall not be released from Borrower's obligations ami liability under this Sccurity InsLrumcnt unless Lender agrees to such release market value of the Property ^ny balance shall be paid to N~;HKASKA - Sing I" Family - Fannie Maell,','eddle \1ae LCIlIFOUM INSTUUMEl\T WITH MEKS FOI"m 3112N I/In VMP,6A(NR) (0407),01 Page 10 of 16 IniliakM /.1!3_