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<br />9, Condcmnlltion. Thl' pm\.'l'eds of any award or chum for damages. direct or consequential. in connection wuh
<br />an~ condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby
<br />assigned and shall be p.lid to Lender.
<br />In the even I of a total taking of the Property. the proceeds shall be applied 10 the sUlns secured by this Security
<br />Instrument. whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property,
<br />unless Borrower and Lender otherwise agree in \\Tlling, the sums secured by Ihis Security Instrument shall be reduced by
<br />the amounl of the proceeds multiplied by the following fra:tion: (a) the tOlal amount of the sums secured immediately
<br />before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be
<br />paid to Borrower.
<br />If the Property IS abandoned by Borrower, or if, after nOlice by Lender to Borrower that the condemnor offers to
<br />make an award or sell Ie a claim for damages, Borrower fails {(\ respond to Lender within 30 days after the date the notice is
<br />given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or
<br />to the sums secured by this Security Instrument, whether or not then due.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of such payments,
<br />10. Borrower 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 any successor in
<br />interest of Borrower shall nol operate r" release the liability of the original Borrower or Borrower's successors in interest.
<br />Lender shall not be required to commence proceedings againsl any successor in interest or refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successors in interes\. Any forbearance by Lender in exercising any right or remedy
<br />shall not be a waiver of or preclude the exercise of any nght or remedy,
<br />11. Successors and Assigns Bound; Joint and Several Liability; Co-signers, The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreements shall be Joint and several. Any Borrower who co-signs this Security
<br />Instrument but does not e;o;ecute the Note: (a) is co-signing this Security Instrument only to mOrlgage, grant and convey
<br />that Borrower's interest in the Property under the terms of Ihis Security Instrument; (b) is not personally obligated to pay
<br />the sums secured by this Security Instrument: and (c) agrees that Lender and any other Borrower may agree to extend,
<br />modify, forbear or make any accommodations with regard 10 the terms of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan
<br />charges, and that law IS finally interpreted so that the interest or other loan charges collected or to be collected in
<br />connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge 10 the permitted limtt; and (b) any sums already collecled from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing Ihe principal owed
<br />under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Note,
<br />13. Legislation Affecting Lender's Rights. If enactment or expIratIOn of applicable laws has the effect of
<br />rendering any provision of the Note or this Security Inslrument unenforceable according to its terms, Lender, at its option,
<br />may require immediate payment in full of all sums secured by this St:Curity Instrument and may invoke any remedies
<br />permitted by paragraph 19, If Lender exercises this uption, Lender shall take the sleps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Security Instrument shall be gi\'en by deJi-,'ering it or by
<br />mailing it by first class mail unless applicable law requires use of another method. Th notice shall be directed to the
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br />first class mail to Lender's address stated herein or any other address Lender designate~ by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or L::nder when given as provided
<br />in this paragraph.
<br />15. Governing Law; Severabilit),. This Security Instrument shall be governed by federal law and the law of the
<br />jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note
<br />which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy, Borrower shall be given one confonned copy of the Note and of this Security Instillment.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any
<br />interest in it IS sold or transferred (or if a beneficial interest III Borrower is sold or transferred and Borrower is not a natural
<br />person) \\'uhout Lender's prior written consenl. Lender may, at its option, require immediate payment in full of all sums
<br />secured by this Security Instrument. Howe\'er. this option shall not be exerCised by Lender if exercise is prohibited by
<br />federal law as of the dale of Ihis Security Instrument.
<br />If Lender exercises IlllS option. Lemler shall give Borrower notice of acceleration, The notice shall pro\"lde a period
<br />of nOlless than 30 day!. from I he date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security InMrumenl. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any
<br />remedies pernlllted by tillS Security Inslrument without further notice or demand on Borrower.
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions. Borrower shall have the right to ha\e
<br />enforcement of thiS Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as
<br />applicable law may speCify for ,clmtatemenl) before sale of the Propeny pursuant to any power of sale contained in Ihis
<br />Security Instrumcll\; or (b) enlry of a Judgment enforcing this Security Instrument, Those condnions are that Borrower:
<br />(a) pays Lender all sums which then would be due under this Security Instrument and the Note had no acceleration
<br />o.:curred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this
<br />Securily Instrument. induding, bul not limited 10. reasonable attorneys' fees; and (d) takes snch action as Lender may
<br />reasonably rC'Iuin' 10 assure Ihat Ihe lien of this Security Instrument, Lender's rights in the Property and Borrcwer's
<br />obligation to pay the ..urns \cclIrcd by this Security Instrument shall continue unchanged, Upon rcimtatement by
<br />Borro.....er, this Security Insl rumenl and the obligations secured hereby shall remain fully effeclive as ifno acceleration had
<br />occurred. 1I0wc\'er, Ihis right 10 reinstate shall not apply in the case ofacceleration under paragraphs 13 or 17.
<br />NON.UNIFORM COVENANTS, Borrower and Lender further covenant and agree as follows:
<br />19. Acceleration; Remedies, Lender shall give notice to Borrower prior to acceleration following Borrower's
<br />breach of any covenant or alV~ment In this Security Instrument (but not prior to acceleration under paragraphs 13 llnd 17
<br />unless applIcable law provides otherwise), The notice shall specify: (a) the default; (b) the action required to cure th("
<br />default; (c) a date, not Ie" than 30 u)'! (rom the date the notice Is given to Borrower. by which the default must be cured:
<br />and (d) that 'allure to eure the default on or before the date specified in the notice may result in acceleratiun of the sums
<br />secured by thl. Security Instrument and IIII~ of the Property. The notice shall further inform norrower of the riRht to
<br />reinstate I'ter acceleration and the right to btlilK a court action to assert the non-existence of a default or allJ othl'r
<br />defrnu of Uorrowcr to accelerltlon and sale. trthe default is not cured on or before the date specifit'd In the notkc. !.('nder
<br />It 1111 option mill)' requIre Immediate payment in full of all sums secured b)' this S('curity Instrument >>,ithllut furth('r
<br />demand lAd mil)' In,oke the power 0' ule Ind an)' other remedies permitted b)' applicable law, I.ender shall hl' rntitll'd tn
<br />collect .11 upenlet Incum:d In pursuing the remedies pro,'ldcd In this pllra~nph 19, indudin~, bllt nlll Iilllih'd III.
<br />ftUonable Ittorne)'ll' f~ and rolltl of title uldenee.
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