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<br />9. ('undcmnnrlon. The" rrllcccd~ of All)' u\\OIrd IlT 1...lIum for l111mlll:u:~", I.hrccl In cnll\Clltlcnllnl, lit CUl1l1ccliun with
<br />im~ ...nmJcl1lllallllt1 or other tuktnE: of un)' pari of the l'wpcrty. nr fm l.'OIl\C'Yl1I1CI.' 111 heu of cmalcUllllllnHl. ure hereby
<br />il""I~IIl."tI and ,hnll be paid to Lender.
<br />In dlL' 1:\'cl\l "r u lnlul1nking of the Property. the proceeds shllll he IIpphcd In Ihe ..ums secured by this Security
<br />In!l.frumcl11", whether or 1\01 thell due. with an)' excess paid 10 Borrower. In the event of II pnTliallnking of the Property.
<br />uT1I~, Borrower und Lender otherwise agree in writing. the sums secured by this Security Instrument shall be reduced by
<br />Ihe nmnunl of the proceeds muhiplied b)' the following fruction: (al tht totnlllmounl of the slims secured immediately
<br />before the taking. dh'ided by (b) the fair market value ofthc Proper1Y immediately before the taking, Any balance shall be:
<br />paid to Borrower.
<br />If Ihe Proper1y is abandoned hy Borrower, or if, after notice by Lender to Borrower that1he ..:ondemnor offers 10
<br />make an award orse1tle a claim for damages, Borrower falls to respond to Lender within 30 days after the dale the notice is
<br />given. Lender is authorized to concet and apply the proceeds, at its option, either to restoration or repair of the Proper1y or
<br />to Ihe sums secured by this Security instrument, whether or not then due.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principa~ shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments,
<br />10. Borrower Not Releaw;ed; Forbearance By Lender Not a 'Vaiver. Extension of the time for pl1y~nent or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in
<br />interest of Borrower shall not operate to rdease the liability of the original Borrower or Borrower's successors in interest,
<br />Lender shall nol be required to commence proceedings against any successor in interesl or refuse to extend time for
<br />paymenl or C'ltherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any righl or remedy
<br />Shllll nOI be a waiver of or preclude the exercise of any right or remedy.
<br />11. Successors and Assigns Bound; Joint and Several Liabilityj C~5igners. The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borro"er's covenants and agreements shall be joint and several. Any Borrower who co-siglL'i this Security
<br />Instrument but does not execute the Note: (a) is co-signing this Se~'urity Instrument only 10 mortgage, grant and convey
<br />that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay
<br />the sums secured by Ihis Security Jnstrument; nnd (c) agrees that lender and any other Borrower may agree to extend,
<br />modify, forbear or make any accommodalions with regard to the terms of this Security Instrument or the Note without
<br />thai Borrower's consent,
<br />12. Loan Charges. (fthe loan secured by Ihis Security Instrument is subject to a law which sets maximum loan
<br />charges, and that law is finally interpreted so that the interest ur other loan charges collected or to be collected in
<br />connection w1th the lonn exceed the permitted limits, then: (II) 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 reduct..~ principal. Ihe reduction will be treated as a
<br />panial prepayment without a.ny prepayment charge under the NOIe.
<br />13. Legislation Affecting Lender's Rights. If enactment or CApITation of applicable laws has the effect of
<br />rendering any provision of the Note or this Security Instrument unenforceable according to its terms. Lender, at its option,
<br />may require immediate payment in full of all sums secured by thi!t Secunty Instrument and may invoke any remedies
<br />permitted by paragraph 19. If Lender exercises Ihis option, lender shall take the steps specified in the second paragraph of
<br />paragraph 17,
<br />14. Nolita. Any notice to Borrower provided for in Ihis Secunly Instrument shall be gi\lcn by delivering it or by
<br />mailing il by first c1as!!. mail unless applicable law requires use of another method, The notice shall be directed to the
<br />Propeny Address or any other address Borrower designates by notice 10 Lender. Any notice to lender shall be given by
<br />first dass mail 10 lender's address stated hereln or nny other addres~ lender designates by notice to 8orrower, Any notice
<br />provided for in this Security Instrument shall be deemed to have been given 10 Borrower or lender when given as provided
<br />in this paragraph
<br />IS. Governing LaWj Severability. This Securi1y Instrument shall be governed hy federalluw and the law of the
<br />jurisdiction in which the Propeny is located. In the event tbut any provision or clause of this Security Instrument or the
<br />Note conRicts with applicable Jaw. such conflict shall nol affect other provisions of Ihis Security Inslrument or the Note
<br />which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument nnd the
<br />Note are declared to be severable.
<br />16. Borrower's Copy_ Borrower shull be given one conformed copy oflhe Note and of this Security Instrument.
<br />17. Transfer of tbe Property or 8 Benefitiallnterest in Borrower. If all or any part of the Property or any
<br />interest in it i!t sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />penoon) wilhout lender's prior wrinen consent, Lender may. at its option. require immediate payment in fun of an sums
<br />secured by Ihis Securily Instrument. However. this option ~hall nol he eJl.crcised hy Lender if exercise i~ 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 prO'o'ide II period
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all ~ums secured by
<br />lhi!!. Security Instrument. If Borrower fails to pay these sums prior 10 the expiration oflhis period, Lender may invoke any
<br />remedies permilted by lhlS Securilylnslrument withoUI further notice or demand on Borrower.
<br />18. Borro.. er's Right to Reinstate. if Borrower mects certain conditions. Borrower shall hllve Ihe right to have
<br />enforcement of this Security (nstrument discontinued at any time priOTlO the" earher of: (a) 5 days (or such other period as
<br />applicable law may specify for reinstalement) before sah:: of Ihe ProperlY pursuanl 10 any power of sale contained in this
<br />Securil)' Im,trument; or (b) cntry of a judgment enforcing this Securit)' In~lrument. Those condilions arc that Borrowcr:
<br />(Ill pay!!. lender all sums which Ihen would be duc under Ihis Security Imtrumenl and the Note had no acceleration
<br />occurred: (b) cur~ any default of any other covenants or agreemc:nh; (c) pay'i all cJl.pensc!I incurred in enforcing this
<br />Security Instrument. including, hUI not limited to, reasonable attorney!>.' ft..'C!oo; and Cd) lakes ,uch action as Lcnder may
<br />reasonably require to as.sure that the lien of this Security ImMumenl, Lcndcr'~ TIghts in the Properly and Borrower's
<br />ohhgalion (0 pa)< the sum.. ,eeured by this Security Jnstrumenl !lohull contll1UC unchanged. Upon reinstntemeTlI by
<br />Borrower, thi!>. Security In..trument and the obliga1ions secured hereby shull remain fully effective as ifnn nccclcrutiun had
<br />(lCCurred. However, Ihis right to reinstale shall not apply in the c~e ofuccekruliuJI under paragruph!i 13 or 17.
<br />NON.UNtFORM COVENANTS, Borrower and Lender further covenant and agree as follows:
<br />19. AcceJeratlODj RemedIes. Lender ahan gin notice to Borrower prior to acceleration following Borrower's
<br />bracb or oy COYeuJll or agreement in Ibis Security Instrument (but nol prior to acceleration under paragraphs 13 IInd 17
<br />DD.... applicable t.w pro_ideo oth.rwilel. lb. notice ahaIl specify: la' lh. d.rault; (bl the action required 10 cure lhe
<br />default; (c) . date, not lnalhan 30 da)'. from the date the notice Is Kiten to Borro"er. by whlcb the default must be cured:
<br />aDd Cd) thai rallure to cure tbe defaull on or before the date specified in lbe Dotke mil)' Tesult In leceleratinn of the 'iums
<br />lKured by thiI Security IDltrument aad we of the Property. The nolil~e shall rurther inform Borrower of Ihe flahttn
<br />rdMtale after aceeler.UoD and the riabt to brina . courl action 10 assert the non-esislence of II ddaull nr IIn)' uther
<br />deft... of Borrower to acceleration aDd ..II!. Uthe ddault 11 not cured on or berore Ihe dale spcrlft('d In Ihe nntln', I.~'ndl'r
<br />.1 ib option may req_Ire immediate payment in ruu of alllUlIlIliKurcd b) thl!\ Securh)' In!llrUml'nt ",llhuut furtlu.'r
<br />cIcIaaIHl IUd 1l1li)' lDyoke the power of I&lc ud an)' other remedies permitted b)' applicable III", I ,(Onder ..hull bl' l'lItll!Nllu
<br />collKt all espeDMS lacurrN in punuinA the remedin prot'ldcd in Ibl, paraaraph 19. IncludinK, hut 11111 IInlllt'd tll,
<br />rdIOIlable allOl"MJ'l' fea and CUI'" of title nldnlte.
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