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9, Condemna,lnn. The prueecds or any nward or c1mm for damnges, direct or eonsequaQ,J.Tn co!9.i~n ~iZ 1 nll~ 1,:ondcnmutioT1 or olhcl taking of any part of the Properly. or for conveyance in lieu of condemnation, nfC hereby ""l~l1l'd lInd slmll be paid (0 lender. III Ihe- C'\'cnl or II 101ullUking of the Property, the proceeds shall be IIpplicd 10 the sums secured by this Security Il1!'otrumcnl. whether or not then due. with any eXcess poid to Borrower. In the event of tl panial taking of the Property, unless Borrower nnd Lender otherwise agiee in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (0) the lOIn) amount of the sums secured immediately before the laking, divided by (b) the fair market value orthe Property immediately before the taking. Any balance shan be paid to Borrower. If the Property is abandoned by Borrower, or if, after notice by Lender to 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 given, Lender is authorized to collect and apply the proceeds, at its ofllian, either to restorulion or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. Unless Lender nnd Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date orthe 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 modifica~ion of amortization of the sums secured by thlS 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 proceedin-gs- 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 intere.'il. Any forbearance by Lender in exerci~ing nny right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 11. Successors and Assigns Bound; Joint Bnd Several LiBbilitYi 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 paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (n) 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 Instrumenl; and (e) agrees that Lender and any other Borrower may agree to extend. modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and that law is finally interprc:led 50 that the interest or other loan charges collected or .to be caUceted in connection with the loan exceed the permitted limits, then: (n) any such loan charge shalt 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 direcl payment 10 Borrower. If a refund reduces principal. the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 13. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has the effect of rendering any provision of the Note or this Security (nstrumept unenforceable according to its terms. Lender. at its option, may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies permitted by paragraph I Q. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of paragraph 17, 14. Notices. Any notice: to Borrower provided for in this 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 maUto Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Security Instrumcnl shall he deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. Governing Lawi Severability. This Security Instrument shall be governed by federal Jaw and the law of the jurisdiction in which the Property is located. In the event thut any provision or dause of this Security Instrument or the Note conflicts with applicable law. such conflict shalJ not affect other provisions of this Securily (nstrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and lhe Note are declared to be sellcrable. 16. Borrower's Copy. Borrower shull be given onc conformed copy of the Note and ofthili Security Inlitrumenl. 17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of thc Property or any interest in it is sold or 1ransferred (or iC a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option. require immediate payment in full of aU sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as ofthe dale of this Security Instrument. If Lender exercises this option, Lender shall give Borrower norice ofaccelerntion. The notice shall provide a period of not Jess than 30 days from the date the notice is dclivered or mailed within which Borrower must pay all sums secured by this Security instrument. If Borrower Cails to pay these sums prior to the expiration of this period, lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions. Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Properly pursuant tl) any power of sale contained in this Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are tha1 Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note had no acceleration occurred; (b) cureli any default of any other covenants or agreements; (c) pays all ex.penscs incurred in enforcing this Security Instrument, including, but not limited to. reasonable attorneys' fees; and (d) takes such action ns Lender may reasonably require to assure that the lien of this Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower. this Security Instrument and the obligations secured hereby shall remain fuUy effective as ifno acceleration had occurred. However. thi~ right to reinstate shaH not apply in the case of acceleration under paragraphs 13 or 17. NON-UNIFORM CoVENANTS. Borrower and Lender funher covenant and agree as fonows: 19. Ac:ceIeration; Remedies. I.euder shall give notice to Borrower prior to acceleration following Borrower9s breach orany conoant or agreement in this Security Instrameot (but oot prior to acceleration under paragraphS 13 and 17 lIDless applicable law prOVides otherwise). The notlee lIhaIl specify: (a) the default; (b) the action required to cure the . default; ee) a date, Dot less than 30 days Crom the date the notice is given to Borrower, by which tbe default must be cured; and Cd) that failure to cure the default on or before the date specified In tbe notice may result in acceleration of tbe sums MCUreCI by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the rlJlht to re1utate alter acceleration and the right to bring a c:ourt GeUOD to assert the non-existence or a default or uny olher dereue of Borrower to acc:eleratlon and sale. If the default Is not cured on or before (he date specified in the notice. I.cnder at I.. option may require Immediate payment In full of all SWIUI lecured by this Securit). (nstrumenl wlthllut further demad ud may iDyoke the power of ale and any other remedies permitted by applicable IlIw. Lendl'r !ihull he ('ntilled In collect all e:lpea.ses Incurred in purluing the remedie:ll pro,lded in this paragraph 19, indudlnM. but nul limited tll, reuouble attorney.' rees and C:OIts of title nldence.