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88- 104449 , 9. Condemnation. The proceeds of any award or clairp for damages. direct or consequential, in connection with any condemnation or other taking of any part of the Property. Of for conveyance in lieu of condemnation, arc hereby assigned and shall be paid to Lender. In Ihe event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, wilh any excess paid to Borrower. In tbe event of a partial taking of the Property, unless Borrower and Lender otherwise agree in writing. the sums secured by Ihis Security Instrument shall be reduced by the amount of the proceeds multiplied by Ihe following fraction: (a) the total amount of the sums secured immedialely before the taking, divided by (b) the fair market value of the Property immedialely before the taking. Any balance shall be paid to Borrower. Ifthe Property is abandoned by Borrower. or if, after notice by Lender to Borrower thatlhe condemnor offers to make an award or sellle a claim for damages, Borrower fails 10 respond 10 Lender within 30 days after the date Ihe notice is given, Lender is authorized 10 collect and apply the proc.eds, at its option. eilher to restoration or repair oflhe Properly or to the sums secured by this Securily Instrument, whether or not Ihen due. Unless Lender and Borrower otherwise agree in wriling, any application of proceeds to principal shall nol eXlend or postpone the due dale of the monthly payments referred 10 in paragraphs 1 and 2 or change the amount of such paymenls. 10. Borrower Not Released; Forbearaoee By Lender Nol a Wailer. EXlension of the time for payment or modification of amortization of the sums secured by Ihis Security Inslrumenl granted by Lender 10 any successor in interest of Borrower shan not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse: to extend lime for payment or olherwise modify amortization of the sums secured by Ihis Security Inslrumenl by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude Ihe exercise ofany righl or remedy. 11. Successors and Assigns Bound; Joinl aod Several Llablllty; C<l-signers. The covenants and agreements of this Security Inslrument shall bind and benefitlhe successors and assigns of Lender and Borrower. sub,iecllo the provisions of paragraph 17. Borrower's covenanlS and agreemenls shall be joint and several. Any Borrower who co-signs this Security Inslrument bUI does nol execule the NOle: (a) is co-signing Ihis Security Instrument only 10 mortgage. grant and convey Ihal Borrower's inleresl ill the Property under the tenns oflhis Security Instrumenl; (b) is not personally obligaled 10 pay the sums secured by this Security Instrument; and (e) agrees Ihat Lender and any olher Borrower may agree to extend, modify. forbear or make any accommodations wilh regard to the tenns of Ihis Security Instrumen. or Ihe Note withoul that Borrower.s consent. U. Loao Charges. If Ihe loan secured by this Security Inslrument is subjectlo a law which sets maximum loan charges, and thaI law is finally interpreled so thaI Ihe interest or other loan ehar~es collecled or 10 be collecled in connection with Ihe loan exceed Ihe pennilled limits, Ihen: (a) aoy sueb loan charge shall be reduced by Ihe amount necessary to reduce the charge to the pennitted limit; and (b) any sums already collected from Borrower which exceeded pennitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing Ihe principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal. Ihe reduction will be trealed as a partial prepayment withoul any prepayment charge under Ihe Note. 13. LegilIallon AtJectlng Lender's Rights. If enactmenl or expiration of applicable laws has the effect of rendering any provision of the Note or this Security Instrument unenforceable according 10 its t.nns. Lender. Dills oplion. may require immediale payment in full of all sums secured by Ihis Securily Inslrumenl and may invoke any remedies pennil1ed by plragraph 19. If Lender exercises this option, Lender shall take Ihe steps specified in the second paragraph of paragraph 17. 14. Nollees. Any nOlice 10 Borrower provided for in Ihis Security Instrument shall be given by dehvenng II or by mailing il by first class mail unless applicable law requires use of another melhod. The notice shall be directed 10 Ihe Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be gIven by first class mail 10 Lender's address stated herein or any other address Lender designales by notice 10 Borrower. Any noUce provided for in this Security Inslrument shall be deemed 10 have been given 10 Borrower or Lender when given as prOVided in this paragraph. 15. Goyerning Law; Seyerablllty. This Security Instrument shall be governed by federal law and Ihe Inw oflhe jurisdiction in which the Property is located. In Ihe eventlhat any provision or clause of Ihis Securiry InSlrumenl or Ihe NOle eonnicts with applicable law. such conflicl shall nol afl'ect other provisions of this Security InSlrument or the Note which can be given effel:1 withoul the eonnicling provision. To Ihis end Ih. provisions of Ihis Seeuril~' Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one confonned copy of the Note and of thIS SecUnlY In.lrumenl. 17. Tl'8lllfer of lbe Properly Dr a Beneficial Inleresl in Borrower. If all or any part of Ihe Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is nol a nalura! person) without Lender's prior written consent. Lender may, at its option. require immediale payment in full of all sums secured by this Security Instrument. However. Ihis option shall not be exercised by Lender If exercise IS prohibiled by federal law as of the date of this SecurilY Inslrument. If Lender exercises this option. Lender shall give Borrower notice of acceleration. The nouce shall provide a period of not less Ihan 30 days from Ihe dale Ihe notice is delivered or mailed within which Borrower muS! pay all .ums secured by this Security Instrument. If Borrower fails to pay Ihese sums prior to the expiration of this period. Lender may' invoke any remedies pennil1ed by ,his Security Instrument without further notice or demand on Borrower. 18. Borrower's Righi 10 Reinstate. If Borrower meets certain conditions, Borrower .hall have Ihe righl 10 have enforcement oflhis Security Inslrumenl disconlinued at any time prior to the earlier of: (a) 5 days (or such olher period as applicable law may specify for reinstatement) before sale of the Property pursuant 10 any power of salt contained in this Security Instrument; or (b) entry of a judgment enforcing this Securily Instrument. Those conditions are Ihat Borrower: (a) pays Lender all sums which then would be due under Ihis Security Instrument and the NOIe had no aceeleralion occurred; (b) cures any default of any other covenants or agreements; (e) pays all expenso incurred in enforcing this Security Instrument. including, but not limited to, reasonable attorneys' fees; and (d) takL.~ !tuch aelion as Lender may reasonably require to assure thaI the lien of this Securily Instrument. Lender's nghls in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower. Ihis Security Instrument and Ihe obligalions secured hereby shall remain fully effective as if no acceleralion had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17. NON-UNIFORM CoVENANTS. Borrower aod Lender further covenanl and agree as follows: Ill. Acceleration; Remedies. Lender sball give nollce to Borrower prior 10 acceleralion following Borrower's breach of any eoyenant or agreemenlln lbis Security Instrumenl (but nol prior to aeceleratlon under paragraphs 13 aod 17 unIeaa applIcable law provides olberwise). The notice sbaII specify: (a) tbe default; (b) Ibe aellon required 10 cure the iIefaull; (c) a dale, not leaa than 30 day. from lbe date lbe nolice Is giyen 10 Borrower, by which Ibe default musl be cured; and Cd) that failure to cure lbe default on Dr before lbe date specified In lbe notice may result In acceleration of Ihe sums ICCured by tbls Security Instrument and sale of lbe Property. The notice shall furlher Inform Borrower of Ihe righllo reInstste after acceleration and lbe right 10 bring a court action 10 .....rt Ihe non-exivlenee of a defaull or a.~y olher defenae nf Borrower to acceleration and sale. If lbe default I. nol cured on or before the dal. specified in Ihe nOllee, Lender at its option may require immedIate payment In full of ail sums secured by Ihis Security InstruRlent wilhoul rurther demand and may Invoke Ibe power of sale aod any olber remedies permllted by applie.bl.ln.... L.nd.r .b.lI be enlilled 10 collect all e"peOles Incurred In pursuing the remedies provided In Ibis paragraph 19, IneludlnR. bul nnt Iimile.! to. reasonahle altorneys' fees and eosl5 of tille eyldenee. L