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88- 105375 'Q, ('ondcmnnlio". rh~ pnlt.'C'cd.. uf any il\\'ard Uf dlllm fur dllnulRc!o. dlrel'l m L'nn~cqucI11illl, 111 connection wllh 311) "'Ill\dl."mnl1l1oTl llT olher wkmp. of all)' purl ur the I)ropcr')'. or for Cl1I1\:cYl.lm:c in lieu of condemnation, lire herehy l1"lgncd and shull be paid In Lender. III Iht' evcnl of a lotallakins uf tllC" Properl)'. the proceeds shall he Ilpplicd tn lhc sums secured by this Security In..rrulT1cl1t. whC'thcT or nol then due, \\'tlh an)' excess paid 10 Borrower. In the event of II partialtllking of tht: Property, unlcs.. Borrower and Lender olhcrwi!.C' agree in writing, the sums secured by this Security Instrument shall be reduced by Ihe amount of the proceeds muhiplicd by the following frnction: (n) the totnl amount of the sums secured immediately bcron~ the taking, divided hy (b) Ihe fair market value of the Property immediately before the takil~g. Any blllance shall be paid 10 Borrower. If Ihe Propert}' is abandoned by Borrower, or if, afler nOlice b)' Lender to Borrower that the condemnor offers 10 make an award or settle a claim for damages. Borrower fails 10 respond 10 Lender within 30 days after the date the notice is given, Lender is authorized 10 collect and apply Ihe proceeds. at its option. either In restoration or repair of the Property or 10 the sums secured by this Security Instrument. whether or not then due. Unles..c; Lender and Borrower otherwise agree in writing, uny application of proceeds to principal shall nol extend or postpone Ihe due date of the monlhly payments referred to in paragraphs I and 2 or change the amount of such payments. 10. Borrower Not Releasedj Forbearance By Lender Not a Waiver. Ext""nsion of the time for payment or modification of amortiza1ion of the sums secured by Ihis Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release Ihe liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceeding!! against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument 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 shaJl not be: a waivc:rofor preclude the exercise of any right or remedy. J 1. Suceessors and Assigns Bound; Joint and Several Liability; Co..silP1ers. The covenants Bnd agreements of this Security Instrument shall bind and benefit the successors and assigns of lender and. Borrower. subject to the provisions of paragraph 17. Borrower's COVl~nants and agreemenls shalt be joint and several. Any Borrower who co-signs this Security Instrument but does not exccute the Note: (a) is co.sigmng this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms oflhis Security Instrument; (b) is not pel"5onalIy obligated to pay the sums secured by this Security Instrument; and (cl agrees that Lender and any other Borrower may agree to extend. modify. forbc:-olr or make any accommodations with regard to the terms of this Security Instrument or the Note withoUI Ihat Borrower'~ consent. 12. Loan Charges. If the loan secured by Ihis Secunty Inslrument is subject to a law which sets maximum loan charges, and tha1 law is finally inlerpreled so that the interest or other loan charges collected or to be coUected in connection with the loan exceed the permith:d limits, Ihen: (a) any such loan charge shall be reduced by the amounl necessary to reduce the charge to the permitted limit: and (b) any sums already collected from Borrower which e"ceeded permined limits "'ill be refunded 10 Borrower. lender may choose 10 make this refund by reducing 1he principal owed under Ihe Note or by making a direct payment to Borrower. If a refund reduc~ principal, the reduction will be 1reated as a partial prepayment without any prepaymenl charge under the Nole. t3. Legislation Affecting Lender's Rights. If enaclment or expiration of applicable laws has the effect of rendering any provision of the Note or this Security Instrument unenforceable according 10 its terms. Lender, at its option, may require immediate payment in full of nil !lum." secured by thi!t Security Instrumellt Ilnd may invoke any remedies permilled by parugrnph J9. If Lender exercises this option. Lender shalltuke the step!. specified in the second paragraph of paragraph 17, 14. Notices. Any notice to Borrower provided for in lhis Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the 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 addrcs!'> staled herein or any other addr~ss Lender designates by nOlice 10 Borrower. Any notice provided for in this Security Instrument shaH be deemed 10 have been given to Borrower or Lender when given as provided in Ihis paragraph. 15, Governing Law; Severability. This Securily l11strulllenl ~hall he governed hy federal law and the law of the Jurisdiction in which the Propeny is located. In the event Ihal /lilY proVI!!IOII ur clause of this Security Instrument or the Note connicts with applicable law. !-ouch conflicl shall nol uffect other prnvl~luns Hf Ihis Security Instrument or the Note which can be given effect wllhout Ihe conflicting provision, To thl~ end the provi\ions of Ihis Security Instrument and the NOle are declared to be ~everable. 16. Borrower's Copy, Borrower shall he gt\'en !llle conformed copy of lhe Note and of Ihis Security Instrument. 17. Transfer of the Property or a Heneficlallnterest in Borrower. If all or any part of the Property or any lntcrest 1n It is !lold or transferrl-d (or ifu beneficial interest In Uorrower i!t sl)ld or tran"ferred and Borrower is nota natural pen.on) wnhout Lender'!! prior written consent, Lender may, utlls opl101l. require immediate payment in full of all sums ~l'\:ured b} thl~ Security Instrument, Howe...er, this oplion !o.hullnol he e~erci"l-d hy Lender if exercise i~ prohibited by federal Jaw 1l~ of the date ofthl~ Security Instrument. If Lender ~xerciscs Ihls option, Lender ~hall give Borrower notice of acceleration. The Iloltcc \hull provide a period of not less than 30 days from Ihe dale Ihe notice is deJi'\lered or mailed \l,'1thll1 which Borrower must pay all \ums \ecurcd b}' thl!! Securil)' Imtrument. If Borrower fails to pay these sums prior 10 lhe expiration of Ihis period, Lender may II1vnkc any remc:di~ permitted by this Sa:urity Instrument wilhout further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shallllllve the nght 10 have enforcemenl of thiS Security Instrument discontinued at any lime pnor to the earlier of: (a) 5 days (llr \ul:h III her peruld n!! applicable law ma)' !lpt.'Cify for rem!ltalcment) before !\ale of the Property pur!tuant to any power of ..ale l'lll1!<uncd If) IIIIS Security In!i.lrumen1; or lb) entry or a judgment enforcing this SccurilY In~trumcn1. Those cOlldilllms arc Ihl1l Borrower (a) pay~ lender all sums which then would be due under Ihi!>. SL'Curity In!!lrUlOent and Ihe Note had IIn uccelcrulwlI occurn:d; (b) cures any default of any other C(J\'enants or a~reelOcnls; (c) pay.. ull CApeme.. inourcd In enrordng Ihi!>. Security In~lrument, including, hut nol limited to. reasonable attorneys' fees; and (dllah... ~lJch ilctlon a.. Lender mllY reMOnably requITe to assure that the lien of this Securily Instrument, Lcnder'!-o TIghts in Ihe Propert)' llnd IJnrruwer'!t obligation 10 pay the !oums !>o:ured by this Securily Instrumenl shall continue unchangt:d. Upllll rCIn!'ltlltcmcnt hy Borrower. this Security' Instrument and (he obligations secured hereby ..hull remain fully effeclivc 1I!'> If IIn accclerutlOtI had occurred. However. Ihi~ TIght to reinstate shaJl nol apply in the ca!'ae ofacceleratioll under paragruph!'o I.' or 17 NON.UNIFORM COVENANTS, Borrower:md Lender further covenant and D8ree as follow!'>: I'. AcceleratioG; Remedla. weier shall gin notice to Borrower prior to acceleration rollowioA Borruwer's breKII ofaay coyltUllt or qreeIDeDt In th'- Security Instrument (but not prlorlo acceleration under p.raw_pmI3 and 17 .w.. oppIIcabl. la.. pnn'icIeo olbe......). Th. noUc. ....n .peclry: <a) the d.raull; (h) Ihc action required 10 core the cldu.l.l; Cel. date, not leM t1aan JO up from tile date the notice (s ginn to Borro"er, by which the default must be cured; ami Cd) lllal failure to cure the delaull on or before the date specified In the notice may result in accelcraUon of the sum!i secu,..t by 11010 S<<urtly IntlTum.nl and ..I. or Ih. Property. The noUce shall rurtber Inrorm Borro..er or Ibe rlaht 10 rduble afta" Kakration and tbe npt to brinl a court action to D.55Crt tbe non-cxisten<< or 8 default or I1n). other ddeue ofBDrrowu to acaleraUon aDd l&Ie.lflbederault II not !:ured on or before the dale specified in the notlce.1.ender at Ita optloa maJ R'quIn laamedJate paJ.at In lull of aU IUIIUI secured l:Jy Ihis Securit)' Instrument withnut further cIeIII&IHl.....y la..ou l1M power or IaIe utd all)' other nmedJC!I permitted by .pplh~.ble law. l.cndl'r ~hall hl' l'nlitll.d III collect IIlJ CSpeaIeI lacllrred ID I*nulal tH rerDedies proYided In Ihis p.n2f.ph 19. 'ncluding. hur nut Ilmitl'd lu. .-III. .......y.. r_ and aJtIs orUlI..._