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<br />88-104163
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connectJon wIth
<br />" any condemnation or other taking of any parI of the Property, or for conveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid to Lender.
<br />In the evenlllf a total laking of Ihe Property, the proceeds shall be applied to the sums secured by this Security
<br />Instrument, whether or not then due, wilh any excess paid to Borrower. In lhe event of a partial taking of the Property,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by
<br />the amount of the proceeds multiplied by the following fraction: (a) the total 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 notice by Lender to Borrower lhat the condemnor offers to
<br />make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is
<br />given, Lender is authorized to collect and apply the proceeds, at ils option, either to restoration or repair of the Property or
<br />to the sums secured by Ihis Secunty 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 />poslpone the due dale of the monthly payments referred to in paragraphs 1 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 amorlization of the sums secured by this Security Instrument granled by Lender to any successor in
<br />inlerest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest.
<br />lender shall nOI be required 10 commence proceedings against any successor in interesl or refuse to extend time for
<br />payment or ot herwise modify amortization of the sums secured by this Security Instrument by reason of any demand made
<br />by Ihe original Borrower or Borrower's successors in interest. Any forbearance by lender in exercising any right or remedy
<br />shall nol be a waiver of or preclude the exercise of any right or remedy.
<br />1 I. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of
<br />this Securit y I nst rumen I shall bind and benefit the successors and assigns of lender and Borrower, subjeclto 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 bUI does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey
<br />that Borrower's interesl in lhe Prop.:rty under the terms of this Security Instrument; (b) is not personally obligated to pay
<br />the sums secured hy this Security Inslrument; and (c) agrees that lender and any other Borrower may agree to extend,
<br />modify. forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />12. Loan Charges. If the loan secured by Ihis Securily Instrument is subject to a law which sets maximum loan
<br />charges, and that law is finally interpreled so Ihal the interest or other loan charges collecte<l or to be collected in
<br />connection wilh the loan exceed the pennittt.-d limits, then: (a) any such loan charge shall be reduced by Ihe amount
<br />necosary 10 reduce the charge to the permitted limit; and (b) any sums already collecled from Borrower which exceeded
<br />pennitted Iimils Will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed
<br />under the Nole or by makmg a direct payment 10 Borrower. If a refund reduces principal. the reduction will be treated as a
<br />partial prepayment Without any prepay'ment charge under Ihe Note.
<br />13. l.qlllatlon Affecting Lender's RIghts. If enactment or expiralion of apphcable laws has the effect of
<br />rendenng any proVISIOn of Ihe Nole or tillS Securily Inslrumenl unenforceable according to its terms. Lender, at its option,
<br />may reqUire Immedlllte payment ID full of all sums secured by this Securily' Instrument and may invoke any remedies
<br />pennltled hy paragraph 19. If lender exercises this option, Lender shall take the steps speCIfied III the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any nollce 10 Borrower provided for m this Security Instrument shall be given by delivering it or by
<br />mailing il by firS! class mail unless applicable law requires use of anolher method. The notice shall be direcled to the
<br />Property Address or any other address Borrower designates by nOllce 10 Lender. Any notice 10 Lender shall be given by
<br />first class mail to Lender's address stated herein or any other address lender designates by notice to Borrower. Any notice
<br />provided for in this Security Inslrument shall be deemed to have been given to Borrower or lender when given as provided
<br />in t his paragraph.
<br />15. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the
<br />Jurisdiction in which the Property is located. In the eventlhat any provISIon or clause of Ihls Security Instrument or the
<br />Note conllicts with applicable law, such conllict shall not affccl other proVISions of tillS Secunty Instrument or the Note
<br />which can be given effect withoul the conllictmg provision. To this end the proVISions of thiS Secunty Inslrument and the
<br />Note are declared 10 be severable.
<br />16. Borrower's Copy. Borrower shall be given one confonned copy of the Note and of Ih1S Security InSlrument.
<br />17. Transfer of the Property ..r a Benefici.!d Interest In Borrower. If all or any part of the Property or any
<br />interC1iI in It IS sold or transferred (or if a beneficial mlerestlD Borrower IS sold or transferred and Borrower IS nOI a natural
<br />person) without Lender's prior wrillen consent. lender may. at Its opllon. require immediate payment m full of all sums
<br />secured by thIS Securlly Instrument. However. Ihis option shall not be exerCised by Lender if exercIse IS prohibited by
<br />federal law as of lhe dale of this Securily Inslrument.
<br />If lender exercises IhlS option. lender shall give Borrower nOllce of acceleralion. The notice shall prOVide a penod
<br />of nollC'>s than 30days from the date the notIce IS delivered or mailed wilhm which Borrower must pay all sums secured by
<br />rhlS Security Instrumelll, If Borrower fails 10 pay these sums pnor 10 Ihe expiration of this period, Lender may 1II\'l1ke any
<br />remedlcs permil1ed hy thiS Security Instrument withoul further notice or demand on Borrower.
<br />18. Borrower's Right to Reinstate. If Borrower meels certain conditions, Borrower shall have the nght to ha\e
<br />enforcement of this Security Instrument dIscontinued at any lime prior 10 Ihe earlier of: (a) 5 days (or such other penod as
<br />applicable law may spl.-cify for remstatemelll) befdre sale of the Property pursuanl to any power of sale contalllcd III tillS
<br />Security Instrument. or (hI enlry of a Judgmenl enforcing this Secunly Inslrument Those condillons are that llorTOwcr
<br />(a) pays lender ull sums which then would be due under thiS Secunty Instrument lInd lhe NOle had no accelcratlon
<br />occurred; (Il) cures any' default of any other covenants or agreements; (c) pays all expenscs IDcurred III enfl1rclIIg tin'
<br />Security Ins'rumenl, mcludmg, hul nollimlted to. reasonable utlorneys' fel's, und (dllakcs such action as lender may
<br />reasonably require tn IIsSlIre lhal the lien of this Security Instrumenl. Lender's nght, In the Property IInd Uorrower's
<br />ohhgalinn In Pll)' Ihc sums secured by this Security Instrumcnt ,hall contlllue unchllnged, Upon rClnstatemcnt hy
<br />Borrower, th" SeL"Urlt) ("strumenl and the obligations secured herehy shall remain fully effcctlvc as Ifno an-dcral1l1n had
<br />occurred lI11wc\'cr, thiS nght to reinstate shall not apply in Ihe case of uccelerallon under paragraphs 1.1 or 17
<br />NON.U~ltf'ORM COVENANTS Borrowe. and Lender further covenant and agrce as follows:
<br />19. AcceleraUon; Remecllea. Leader Ihall Kive notice to Borrower prior 10 acceleration followlnll Borrower's
<br />breecb or Iny co,enant or qrHllIeni In tblJ Security Inltrument <but nol prior to acceleration under parallraphs 13 and 17
<br />unleM ."lIcable law pro,ldea otherwlM), The notice I1ullI specify: la) the default; (b) the action required to cure the
<br />derault; (e) a date. not leu tban 30 aYI trom the ate the notice II Riven to Borrower. by' which the derault must be cured:
<br />and Idlthat tally", tl) cure the default on or berore the ate .,eclfled In th<l' notice may result In ICcclerlltlon of the ~um~
<br />M....red by thll Security fMtrument and ..Ie of the Property. The notice shall further Inforln lIorro"cr ..r the rlllht I..
<br />r.l.....le aher Kc.lerltIon Ind the rlpt 10 bring a court action to allSCrt the non-existence of a dt'fault IIr I'n~ lither
<br />deft_ of Rorrowrrlo acceleration and ule. It the derault II not cured on or befon the date sp<<'llIed 10 th,' nlltle,', 1,('0"",
<br />at Ib ~tJon IIlay require IIIlmedlatr payment In rull or alllUml lKured by this Security Instrument ..lth..ut rurlh,',
<br />delll8lMl and ..ay In,ok. the power ol..le and an)' olher remedlea perml"rd hy' applicable la... I.('ndcr .halllK' 1'l\tHh-d 111
<br />Cttllfti all U",lItft lncllrred In panulnll the remedln pro,lded tn this pa,allraph 19. Ineludlnll, hul 0111 limit I'd tll,
<br />,..._ablr attorney.' fen and COlla of title nldence,
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