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<br />lS8~103531
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<br />9. Condemnation. The proceeds oJ any award or c1aiQ1 for damages, direcl or consequenlial, in conneclion with
<br />any condemnation or olher taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid to Lender,
<br />In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security
<br />Instrument, whether or not then due, with any excess paid to Borrower, In the event of a partial laking of the Property,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by
<br />Ihe amounl of the proceeds multiplied by the folIowing fraclion: (a) the total amount of Ihe 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 thl:! Property is abandoned by Borrower, or if, after notice by Lender 10 Borrower thaI the c<lndemnor olfers to
<br />make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the dale Ihe notice is
<br />given, Lender is authorized to collect and apply the proceeds, at its oplion, either 10 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, an) application of proceeds to principal shall not extend or
<br />poslpone 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 amortizalion of the sums secured by this Security Instrument granted by Lender to any successor in
<br />interesl of Borrower shall not operale to release the liabilily of the original Borrower or Borrower's successors in interest,
<br />Lender shall not be required 10 commence proceedings against 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 anytlemand made
<br />by the original Borrower or Borrower's successors in interest, Any forbearance by Lender in exercising any righl or remedy
<br />shall not be a waiver of or preclude the exercise of any righl 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 th~ 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 execute the Nole: (a) is co-signing this Security Instrument only to mortgage, grant and convey
<br />that Borrower's interesl in the Property under the tenns of tins Securily Instrument; (b) is nol personalIy obligated to pay
<br />the sums secured by this Security Instrument; and (c) agrees that Lender and any olher Borrower may agree to extend,
<br />modify, forbear or make any accommodations with regard to the terms of Ihis 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 colIected 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 to the permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower, Lender may choose to make this refund by reducing the principal owed
<br />under the Note or by making a direct payment to Borrower. If a refund reduces principal, Ihe reduction will be treated as a
<br />partial prepayment without any prepayment charge under Ihe Note,
<br />13. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has the elfect of
<br />rendering any provision ofthe Note or this Security Instrument unenforceable according to its lerms, Lender, at its option.
<br />may require immediate paymenl in full of all sums secured by this Security Instrument and may invoke any remedies
<br />permitted by paragraph 19, If Lender exercises this option, Lender shall talce the steps specified in the second paragraph of
<br />paragraph 17.
<br />14, Notices. Any notice to Borrower provided for in this Security Instrumenl shall be given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another method, The 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 10 Lender's address slated herein or any olher address Lender designates by notice to Borrower, Any notice
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph,
<br />15. Governing LaW; Severability. This Security Inslrumenl shall be governed by federal law and the law of the
<br />jurisdiction in which the Property is located, In the evenl thaI any provision or clause of this Security Instrument or the
<br />Note conRicts with applicable law, such conRict shall nol aft'ect other provisions of this Security Instrument or the Note
<br />which can be given elfect withoul the confticling provision, To this end the provisions of this Security Instrument and the
<br />Note are declared to be severable,
<br />16. Borrower'~ Copy. Borrower shall be given one conformed copy of the Note aud ofthis Security Instrument.
<br />17. Transfer of the Property or a BeDeficial Interest iD Borrower. If all or any part of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums
<br />secured by this Security Instrument, However, this option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration, The notice shall provide a period
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security Instrument, If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower,
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right 10 have
<br />enforcement of Ihis 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 reinstatement) before sale of the Property pursuant to any power of sale contained in Ihis
<br />Security Instrumenl; or (b) entry of a judgment enforcing lhis Security instrumenl. Those conditions are lhal Borrower:
<br />(a) pays Lender all sums which then would be due under this Security Instrument and the Nole had no acceleration
<br />occurred; (b) cures any defaull of any other covenants or agreements; (c) pays all expenses incurred in enforcing this
<br />Security Instrument, including, but nol Iimiled to, reasonable allomeys' fees; and (d) lakes such action as Lender may
<br />reasonably require to assure that the lien of this Security Instrument, Lender's righlS in the Property and Borrower's
<br />obligation to pay the sums secured by this Security Instrument shall continue unchanged, Upon reinstalemenl by
<br />Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had
<br />occurred, However, this right to reinslate shall nol apply in the c.:ase of acceleralion under paragraphs 13 or 17,
<br />NON.UNlFOIlM CoVENANTS, Borrower and Lender further covenant and agree as follows:
<br />19. AceeIendion; RemediIs. Leuder shall Ilive notice to Borrower prior to acceleration followinll Borrower'lI
<br />bracb of any emenant or apeemeDt ID this Sec1lrity Instrumeat (but Dot prior to acceleration under p....graplui 13 and .7
<br />UIIIeIa appUcahIe law prorides otberwbe). 1be DOtice sIWIllpedfy: <a> the deflllllt; (b) the action required to cure the
<br />diefauJt; (c). date, not lea tIuut 30 days from the date the notice IlIlliven to BorrOwer, by wbich the default mus1 be cured;
<br />and (d) tIaat faIlare to care the default on or before the date lpedfied iD the DOtice may result In acceleration of the sums
<br />ICC1InIlI '" tbIs Sec1lrit)' Instrwnent and Ale of the Property. The notice sball further Inform Borrower of the rillhtto
<br />reiutate after aeceJeration ud the riabt to brina a court action to usert the non-exis1ence of a default or any other
<br />defeae of Borrower to aeceleration and Ale. If the default II not cured on or before the date specifiCIIln the notice, Lender
<br />at Its CJIItioa may require \mmedJate payment In flII1 of a1111U111 IeCIlred by thll Security Instrument ..lIhout further
<br />detuIId ad may In.oII.e tH power of Ale and any otIler remedll!l penaltted Ity applicable I.",. Lender sh.1I be entitled to
<br />collect all espellMll IIIcurred III purnlq die remedIea prodded In dais '....araph 19, Inc1udlnll, hut nol limited to.
<br />r-we attonIe)'l' feel'" coats of title eritlence.
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