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<br />9. Condcmmltlon. The proceed!> or any award or claim for durnugc!>, direct or t:nn~~u=tlll, i;hQ~~O~h
<br />all) C'lmde:l11nallon or olher laking of all)' part of the Properly. or for conveyance: in lieu of condemnalion, nrc hereby
<br />assigned and shall be paid 10 Lender.
<br />fn the e\'enl or II total taking of the Property, Ihe procL'Cd!> shall he applied to Ihe sums secured by this Security
<br />1m,lrument, whcther or not Ihen due, with any excess paid to Borrower. In the event of a partial laking of the Property,
<br />unles..... Borrower and Lender otherwise agree in writing, the sums secured by Ihis Security Instrument shall be reduced by
<br />Ihe amount of the proceeds multiplied by the following fraction: (a) :he total amounl of the sums secured immediately
<br />before the taking, divided b}' (b) Ihe fnir 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, afler nOlice by Lender to Borrower thai the condemnor offers to
<br />make an award or settle II claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is
<br />given, Lender is nuthorized 10 collecl and apply the proceeds, at its option, either to restoration or repair of the Property or
<br />to the 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 principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs I Dnd 2 or change the amount of such payments.
<br />10, Borrower Not Releasedj Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modificution of amonization of the sums secured by this Security Instrument granted by lender to any successor in
<br />intereSI of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest.
<br />Lender shnll not be required to commence proceedings against any successor in interest or refuse to extend time for
<br />payment or otherwise modify amonization oftbe sums secured by this Security Inslrument by reason of nny demand made
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy
<br />shall not be a waiver of or preclude the exercise of any right or remedy.
<br />11. Successors and Assigns Bound; Joint and Several Liabilityj Co-signers. The covenants and agre~ments of
<br />this SecurilY Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to Ihe provisions
<br />of paragraph 17. Borrower's covenants and agreements shall bejoint and several. An'y Borrower who co-signs this Security
<br />InStrumenl but does nol execute the Note: (a) is co-signing Ihis Security Instrument only to mortgage, grnnt nnd convey
<br />that Borrower's interest in the Propeny under the tenns of this Security Instrument; (b) is not personany obligated to pay
<br />the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend,
<br />modify, forbear or make any accommodations with regard to Ihe terms of this Security Instrument or the Note without
<br />tha1 Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Security Instrumenl is subject to a law which sets maximum loan
<br />charges, and that law is finally interpreted so that the imerest or other loan charges collected or to be conected in
<br />connection with the loan exceed the permitted Jimits, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge 10 the penniued Jimit; 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 Notoe or by making a direc1 payment to Borrower. Ifa refund reduces principal, the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Nole.
<br />t3. Legislation Affecting Lender's Rights. If enactment or expiration of applicable Jaws has the effect of
<br />rendering any provision of Ihe Note or this Security Instrument unenforceable according to its tenus. Lender. at its option,
<br />may require immediate payment in full of all sums secured by this Security Ins1rument and may invoke any remedies
<br />pennitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Security Inslrumen1 shall be given by delivering il or by
<br />mailing it b}' first class mail unless applicable Jaw requires use of another method. The notice 'Shall be directed to the
<br />Propeny Address or any other address Borrower designates by notice to Lender. Any notice 10 Lender shall be given by
<br />first class mail 10 Lender's address staled herein or any other address Lender designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or lender when given as provided
<br />in this paragraph.
<br />15. Governing LaW; Severability, This Security Instrumenl shall be governed by federal Jaw and the law of the
<br />jurisdiction in which Ihe Propen).' is located. In the event thai any provision or clause of Ihis Security Instrumenl or the
<br />Note conflicts with applicable law, such conflict shall nol affect other provisions of this Se'Curily Inslrument or the Note
<br />which can be given effect withoUl the conflicting provision. To this end the provision!'! of Ihis Security In!ltrument and the
<br />Note arc declared 10 be severable.
<br />16. Borrower's Copy, Borrower shall be given one confonned copy of Ihe Note' and of this Security Instrument.
<br />17. Transfer of the Property or a Beneficiallnteresl in Borrower. If all or any pan of Ihe Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is s01d or transferred and Borrower is not a natural
<br />person) 'withoul Lender's prior written consenl, lender may, at its option, require immediate payment in full of all sums
<br />secured by this Security Inslrumen1. However, this option shall not be exercised h} lender if exercise is prohibited by
<br />federal law as oflhe date of this Securitv Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleratIOn. The notice ~hall provide a period
<br />of not less than 3D days from thedme the nOliceis delivered or mailed within which Borrower must p3). all sums secured by
<br />Ihis Security Instrument. If Borrower fails to pay these sums prior 10 the expiration ofthi!J period. lender mll)' invoke any
<br />remedies permitted by this Security Inslrument without funher notice or demand on Borrcwer.
<br />18. Borrower's Right to Reinstate. If Borrower meets cenain condition.!., Borrower !lhull have the right 10 have
<br />enforcrnIent of this Security Instrument discontinued at any time prior to the earlier of: (3) 5 dUYli (ur such other period as
<br />applicable Jaw may specify for reinstatement) before sale of the Propeny pursuant 10 any power of sale conlained in this
<br />Security Instrument; or (b) I.:ntl)' of a judgment enforcing this Securit} In!ltrument. Those conditions are thai Borrower:
<br />(a) pays Lender all sums which then would be due under this Security Instrument and the l'11ote had no acceleration
<br />occurred; (b) cures :my default of any other cO\.'cnanls or agreements: (c) pays all expenses incurred in enforcing Ihis
<br />Securil).. Instrument. including, but not limited Ie. rea!oonable attorneys' fees; and (d) lakes such aClion as lender may
<br />reasonably require 10 assure that the lien of this Security Inslrumenl. Lender's righls in Ihe Property and Borrower.s
<br />obligation 10 pay the sums secured by this SecurilY In!.trument shall continue unchanged. Upon reinslalement by
<br />Borrower, thl!'! Securit}' Ins1rument and the obligations !-.ecured hereby shall remain fully effective 0.<;, if no acceleration had
<br />occurred. However. this righl to reinslate shall nol apply in the case of acceleration under paragraphs 13 or 17.
<br />
<br />NON.UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />
<br />19. AcceleratioD; Remedies. Leader shall gin notice to Borrower prior 10 acceleration following Borrower.s
<br />bread1 of uy co't'eaaat or ...-eement in this Security Instrument (bul not prior to acceleration under paragraphs 13 and 17
<br />ualea applicable law prorides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the
<br />default; (c) a date, Dotlen thaa 30 days (rom Ibe date the notice Is &i.-en 10 Borrower. by wbich tbe default must be cured;
<br />and (d) that failure 10 cure the default on or before the date specified jn the notice may result in acceleration of Ihe sums
<br />It:C1II'ed by this Security IlIItrument IlDd we of the Property. The notice shall furtber inform Borrower of Ihe rJRht 10
<br />reiastale after acceleration and the riabt 10 briag e courl action 10 ~rt the Don--e::dstence of a default or an)' (Jlher
<br />defease of Borrower to accden.tion and Ale, If lhe default is not cured on or before the date specified in the notice, Lender
<br />al Ib optI06 may require imlDedial:e pa)'ment in full of all sums secured bV this Securil)' Instrumenl ",.ithout further
<br />cIemud IlDd may (aroke the pow-er of Alf ud an, olher remedies penninrd b). applicable la",'. under ~hall ht, t'ntitlt'd 10
<br />co!led all npema incurrnt in panalq the rrmcdJa prodded in tbis P.ralU8ph 19, indudln2. but nlll limill'd Ill.
<br />reaoaablr .nomeys' feft and coAs of title <<,yldencr.
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