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88- 105940 9, Condemnation. The procccd~ of any award Of clnim for dumllgcs, direct or consequentiul, in connection with any condcmmllinn or other IlIking of un)' paTI of the Property, or for conwYllncc in lieu of condemnlllion, arc hereby 3!<oMgncd Ilnd shull be paid to Lender. III Ihe e"ent of 11 totl1lluking of the Property, the proceeds shull be applied 10 the sums secured by this Security Instrument, whether or not then due, with uny C'xcess paid to Borrower. In the event of u partial tnking of the Property, unless Borrower and Lender otherwise agree in writing, the sums secured by Ihis Security Instrument shun be reduced by the amount of the proceeds multiplied by the following frnction: (0) the total amount of the sums secured immediately before the luking, dividcd by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid 10 Borrower. Iflhe Propeny is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle n claim for damages, Borrower faits to respond to Lender within 30 days oner the date the notice is given. Lender is authorized to caUect ond apply the proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. Unless Lender and Borrower olherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of such payments. 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the tIme for payment or modificntion of nmortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall 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 10 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 shall nol be a waiver of or preclude the exercise of any right or remedy. 11. Successors and Assigns Boundi Joint and Several Liability; Co-signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of parngraph 17. Borrower's covenants and agreements shall bejoint and several. Any Borrower who co-signs this Security Instrument but does not e;lecute the Note: (a) is co-signing this Security Instrument only to mortgage. grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the tenus of this Security Instrument or the Nole without that Borrower's consent. 12. Losn Charges. If the loan secured by this Security Instrument is subject to a law which se,ts maximum loan charges, and that law is finally interpreted 50 that the interest or other loan charges collected or to be collected in connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If n refund reduces principal, the reduction wiU be treated as a partial prepayment wilhout any prepayment charge under the Note. 13, legislation Aft'ecting Lender's Rights. If enactment or expiration of applicable laws has the effect of rendering any provision of the Note or this Security Instrument unenrorceable according to its terms, Lender, at its option, may require immediate payment in fun of all sums secured by this Security Instrument and may invoke any remedies permitted by purngraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of paragraph 17. 14. Notices. Any nOlice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it hy firsl class mail unless applicable law requires use of another melhod. The nOlice shall be directed to Ihe Properly Address or any other address Borrower designoles by notice to Lender. Any notice to Lender shall be given by first class muil to Lender's address slaled herein or any olher address Lender designates by notice 10 Borrower. Any notice providl.>d for in this Security Instrumenl shall be deemed to have been given to Borrower or Lender when given as provided in thi!> paragraph. 15. Governing Law; Severability. This Security Instrument shall be governed by federalluw and the law of the jurisdiclion in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conniCIS with applicable law, such connict shall noluffect other provisions of this Security Instrument or the Note which cun be givo:n effeCI without the conflicting provision. To this end the provisions of this Security Instrument and the Nole are declared 10 be severable. 16. Borrower's Copy. Borrower shall be given one conformed copy of Ihe Note and of Ihis Security Instrument. 17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any inlerl."!il in it is sold or Iransferred (or if a beneficial imerest in Borrower is sold or transferred and Borrower is not a natural person) wilhout Lender's prior wrilten consent, Lender may, at ils option, require immediate payment in full of all sums secured by this Security Instrument. However. this option shall not be exercised by Lender if exercise is prohibited by federallnw as of the date of this Security Instrument. If Lender exercises this option. 1.ender shall give Borrower notice of acceleralion. The nohce shall provide a period of not less than 30 days rrom the dnle the nolice is delivered or mailed within which Borrower musl pay ull sums secured by Ihis Security Instrument. Ir Borrower failli 10 pay Ihese sums prior to lhe expiration oj this period. lender may invoke any remedies permitted by Ihis Security Inslrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meels certain conditions, Borrower shall have the right to have enforcement of this Securily Instrumenl di!ocuntinucd at uny time prior 10 Ihe earlier of: (n) 5 days (or such other period as applicable law may specify for reinstalement) hefore 'iale or Ihe Property pursunnl 10 any power of sale conlnined in this Security Instrument; or (b) entry of n Judgment enforcing this Security Instrument. Those conditions llrc thai Borrower: (D) pays Lender all sums which then would he due under thb Security Instrument nnd the Note hud no nccderulion occurred; (b) cures any default of uny other L"ovenanls or agreements; (c) pays all eApenses incurred in enforcing this Security Instrument. including, but nOI limited to, reasonable attorneys' rees; and Cd) takes such action as Lender may re8!tonably require to a.'.:~urc that Ihe lien or thili Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by Ihis Security Instrument lihal1 conlinue unchanged. Upon reinstatement by Borrower, this Security Instrument and Ihe obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, Ihis right to reinstale shull nol apply in the case of acceleration und~r paragraphs 13 or 17. NON.UNIFORM COVENANTS. Borrower nnd Lender further covenant and agree as rollows: Ill. Aueleratloo: Remedl... Lender .hall glye noli.. 10 Borrower prlar 10 aeeeJeralion following Borrower's breach oraay covenant or qreemeDt iD this Security Instrument (but not prior to acceleration under paragrapml3 ond 17 ualeII applicable I." proYida otherwise). The notice sball specify: (8) the default; (b) the action required to cure the default; (c). date. nollea than 30 days from the date the notice (s liven to Borrower, by which the default must be cured; and Cd) that r.nure to cure the default on or before the date specified in the notice may result in accelerution of the sums secured by thll Security Inltrument and sale 0' the Property. The notice sholl Curther inform Borrower IIf the riQht 10 relDlbte alter acceler.Uon and the right to brinK a court action to assert the nnn.existen~ of 11 defoult nr ony other ddeDH of Borrower toaccelention aad ale. Irthe derault II nol r:ured on or before the date specified in the nntlce. I.codcr It ib option may require Immediate payment In full or aUlums secured by this Securily Instrument wilhllllt (urthl'r demaad ud rilly inyoke the power of ute ud any othu nmediel pumiUed by applicable low, Lender 'ihull hl' entltll'd III collKt aU npcnRl Incurred In punulng Ibe remedies proYldftl In this paraRrllph 19. IndudinM. hut nnl limited III. reDOUble .Uorne)'.' rea and COlts of title e,ldence.