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88- 104792 9. Condcmnl1Uon. 1'hc rrUCL'l-d.. of an)" awnrd or claim fllf dl101r1~l"". dIrect nr c:nnscqucnllul. In conT\cclinn willi Ult~ l.:t\ndClIllmlHlIl ur nthL'r lukmp. of any J1l1rt of Ihe: Property. or fnr com'c}'..mcc 111 lieu of l.'ondclTlnluinn. UTe: hereby a....I~nC'd and ..hall he ('<lid 10 Lender. In Ihe l.'\L'lIll,r it h\1nllnking I\f 1111.' ProperlY. The proceeds shnl! he applied In the !'IU01S secured by this Security IU!o.lrUlUcnt. whclhcf llf nul then due. ",ilh uny eJtcc.'i" paid 10 Borrower. In the event of It pllr1illllnking of the ProperlY, unle....' nnrrnWL'f and Lender olhcrwi!\c ngrcL' in writing. lhe sums secured by this SecurilY 111!itrumcnl shun be reduced by the amount of lhl' pfllcccd.. muhiplicd hy the following fraction: (n) the 101111 0010UI11 of the sums secured immca.atcIy before lhe taking. divlded 0) (0) the fair market ..'alue of the Propeny immediately before lhe laking. Any buhll1cc shall be paId 10 Borrower If the Property i!'i abandoned by Borrower. or if. aCter notice by lender 10 Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to lender within 30 days after the date the notice is ~!;1\ICn. Lender is lluthonzcd to collecl and apply the proceeds. at its option. either to rest oral ion or repair of the Property or 10 the sums secured by this Security Instrument. whether or not then due, Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone Ihe due date of the monthly payments referred to in paragraphs 1 and 2 or change the amounl of such payments. to. Borrower '!\lot Releasedj Forbearance By Lender Not 8 Waiver. Extension of the time for payment or modifical1on of amortizalion of the sums secured by this Securily Instrument granted by Lender to any successor in interest of Borrower shall not operate 10 release the liability of the original Borrower or Borrower's successors in inlerest. lender shall not be required In commence proceedings against any successor in inleresl or refuse 10 extend time for paymel1l or otherwtse modify amOr1ization of the sums secured by this Security Instrument by reasor. of any demand made by the original narrower or Borrower's successors in interest _ Any forbearance hy lender in c1I.cn:ising any right or remedy shall not be a wai...er ofar preclude the excrcise of any right or remedy. 11. Successors and Assigns Bound; Joint and Several Liabilityj Co-signers. The covenants and agreements of Ihi!'\ Security Instrumenl shall bind and benefitlhe successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Borrower'~ co\'enant!'\ and agreements shall he joint and several. Any Borrower who co-signs this Security Instrument but does not cxecute Ihe Note: (a) is co.signing Ihis Security Instrument (Jnly to mortgage. granl and convey Ihat Borro.....er's inter~r in Ihe Property under the terms of this Securily Inslrument: (h) is not personally obligated to pay Ihe ~ums secured by this Securit~, Inslrument; and (c) agrees thaI Lender and any olhcr Borrower may agree to extend. modify. forbear or make any accommodations wilh regard 10 the terms of this Secunty Inslrument or the Note without that Borrower's consent. 12. Loan Charges. If Ihe loan ~ecured hy this Security Instrument is subject 10 a law which sets maximum loan charges, and that law 1S finally 1I11crpreted so that the interest or other loan ..:harges collected or to be collected in connection with the loan exceed the permitted l1mils, then: (a) any such loan charge shall be reduced by the amount 11t.'Cc!t~ary W reduce the charge to the pcrmiued limit; and (b) any sums already collected from Borrower which exceeded permit led hmils will be refunded to Borrower. lender may choose 10 make thIS refund by reducing the principal owed under Ihe Note or by making a direct paymen1 to Borrower. Ifa refund reducc!lo pnnclpal. Ihe reduction will be treated as a panml prepayment without any prepayment charge under the Note. 13. LeRislatlon Affec:tinR Lender's Rights. If enactment m expiration of applicable laws has the effect of rendenng any provision ofrhe Note or this Security Instrumenl unenforceable according 10 its terms. Lender. at its option. may require immediate payment in full of all sums ~ecured by this Secunly Instrumenl and may invoke any remedies permIt led by pllrdgraph 19, If lender exercises thts optlUn. lender shall take the step!'> specifit..-d in the second paragraph of paragraph 17. 14_ Notices. Any notice to Borrower provided for 111 this Security Instrument shan he given by deli-.'cring it or by mailing it by first c1as!'\ mail unless applicable law reqUIres use or another melhod. The nuUce shaU be directed 10 the Property Address or any other address Borrower designates by notice to Lender. Any nolice tn lender shall be gi\len hy firsl class mail to Lender's addrcs!'\ Mated herein or any other address Lender deSIgnate. hy notice 10 Borrower. Any notice pTtwided for 111 this SL"Cunly Jnslrument shall he deemed w have hcen gl\'cn 10 Horrower or Lender when given as provided in thi~ paragraph. 15. Governing l..aw; Severability. Thi!'\ Secllrit)' Imlrumellt shall he gm'erned by fcderullaw and the law of the JUrisdiction in whIch the Property i!o hlCUled. In Ihe ellenl Ihal an)' provi'ilon or dause of Ihis Security Instrument or the Note conflicts with applicable law. !.uch confllcl ..hall not affecl ()lher pn)\,I!oltm!o of this Security Inslrument or Ihe Nole which can be given effect without the conftlellllg pro"'IMOII Tn thl~ end the pn)\lI~lun!. of this Secunty Instrument and the Note are declared 10 be ~...erahle 16. Borrower's Copy, Burrower ...hall be given one \:ullformcd copy of the Note and of this Securily In~trument. 17. Transfer of the Property or H Beneficial InlerC!tit In Borrowcr. If all or any pan of the PTClpcrty or any mterestm it i!t !.old or transfern-d Cur if a beneficl3llOtcrC'OI 10 Borrower I!. !.old or transferred and Borrower i~ not u natural person) Without Lender's prim written consent, Lender mllY, ul Il~ llpllOll. require Immediate payment in full of all sum~ s~ured by thl~ Serumy In!'\trumenl. Ho.....e\o'cr. thIS opllon ,h..lIllol he;: c~cn.:iscd hy Lender if cxcn:ise i!. prohibited hy federal law a~ uflhe dale ofthl!'\ Security Jnslrumenl If Lender exerclse~ IhlS option. lender shall gIve Horro\\;er nollce or acceleratIOn. The notice 'ihal) provide a penod of not less than JO dl1Y~ from Ihe date Ihe notice IS delivered or mailed wltllln which Borrower must pay all sums ~ecured by Ihl!. Securi1)' lnstrument. If Borrower fails. 10 PU)' Ihese sums prior 1(1 Ihe eXpiration ofrhi!. period. Lender may invoke any remedies permit led by this Security Instrument withoul funher nul ice or demand on Borrower. 18. Borrower's Right to Reinstate, If Borrower meets certain condition!.. norro.....er shall have the righllO huvc enforcement ofthi" Securil}' Instrument di'!'conlinued at any time prior 10 the earher of: (a)S days ""or ",ueh other period a!l. applicablc law muy ..pecify for rcin!'\latement) before sale oi the Property pur!o.uant In an}' po.....er Ilf ..ale cOIltained in Ihls Secunt} Instrumcnt; llr i'b) enlr)' of a judgment cnforcing Ihis Security In-.trument. Those conditions arc thai Borrower: la) pa~!!. lender all "um~ which then would be due under this Securil}" In..lrUmel1l and the Nole had no IIccclcTlltion occurred: Cb) curt-os any default of any other covenants or agreements; (c) pay.. all e],pensl'S incurred in enforcing this Securit}. (n..trumenl. Illdudlllg. hut not Iintit~d to. reasonable lIt1orncys' fce,. i.lIId Cd! lakL... "Uell ill.lllm a!'\ Lender may n:a..onably requlft: tn a...sure Ihat the hen of thiS Security Instrumenl. Lendcr\ ngl1l', III the Property and Borro.....er... ohhgal1nn w pay- the ..urn.. \Ccured by this Security In~trument ,h<rlt-t.:ollllnue ullchanged. Upon reinslatemenl oy Borro.....er, I hi!!. SecUTlI) In!olrument and Ihe obligations secured hereby ..hall renHlIO fully dfedl""c as ifon accderutlnn hud Ilccurred. Howe...er, Ihis. right 10 reinstate shall nol appl)' in the case nfaccelt:rallol1 under paragraph.. 1.~ or 17 NON-UNIFORM COVENANTS, Borrower and Lender fun her covenant and agree as follows: .9. Atcderatloa; R~mediell. Lender IbaII gin noli<< to Borrower prior 10 acceleration following Borrower's breach or..)' COYelWlt or qreement in thll Security Instrument (but not prlor to acceleration under paragraphs 13 Hnd 17 uaJ... applicable law prndda otbenriae). The noU.., .haJl specify: ta) the default; (11) the aelion required to cure the default; (c). ute. nolleu than 30 ny. 'rom tbe date the notice is Riven to Borrower. b)' which Ih~ default must be cured: and (d) ..... '.11Ift 10 CUR! the lIer.ult on or MrOR tbe date Ipecified in the nn1i~e mil}' result in Bceelerlltion fir Ihe !lum!lo RClInd by 1Ia11 Security Instrum~nt and sale IIf the Property. The noticc shin further Inform Dormwer uf Ihl' riRhl In reiDltate .fter acceleration and the right to brinK a court action to U!ierl the nnn.nls.encl' lIf a default fir IIn) lither ddenw of Borrower to IICceleratloD and sale, lrthe ddault is not cured on or bcfl1fC th(' dlltl' lipcl"lfied In Ih(' nntlce. I.l'nd\'r .t III option mal' rrqulr~ Immediate payment in full of allluDlI secured b) lhl!to SceurlC) In"lruml'nt ,,!thuut (urtlu,'r deraaDdl ud mal Intoke the powu or ..Ie and an)' otber remedle. permitted b) applicable I.", I ,rndcr ..hull hl' \'111111...11 '11 coUld aU npenlon lacurRd in punulnll the n~mrdln provided In .hi! paraKflItlh 19. IndudlnK. bur l1ul IImih.,1 Ill, reuon.b~ .Uome).,- 1m and COlli or llllt' uldence.