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. 9. CondomnaUon. The proceeds of any award or claim for damage<, direCI or c!~;;;;;nlill~iPe<<;te.swilh an)' condemnation or other loking of Dny part of the Property. or for conveyance in lieu of condcmmltlon, are hereby a"igned and shall be paid to tender. In lhc e'-CD1 of a 10lallaking of 1hc Property. Ihe proceeds shall be applied 10 Ihe sums secured by tbls SecurilY Instrument, whether or nol then due. with any excess paid 10 Dorrower. In the eyc:nt or a partial laking of the Property, unles..lii. Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by tbe amount oftbe proceeds multiplied by tbe following fraction: (a) Ihe t0101 amount of Ibe sums secured immediately before the taking, divided by (b) tbe fair market value oftbe Propeny immedialely before the tnking. Any balance sball be paid tllBorrower. Iftbe Property is abandoned by Borrower, or if. aner notice by tender to Borrower tbat the condemnor offers to make an award or seule a claim for damages, Borrower fails 10 respond to Lender within 30 days aner tbe date tbe notice is given, Lenderisautborized to collecl and apply tbe proceeds. al its oplion, either to restoration or repair oftbe Propeny or 10 Ibe sums secured by Ibis Security Instrument. wbetber or nottben due. Unless Lender and Borrower otberwise agree in writing. any application of proceeds to principalsball nol extend or postpone tbe dne dale oftbe m~nlbly payments referred to in paragrapbs I and 2 or change Ibe amount of such paymenls. 10. Borrower Nol Released; Forbearaoee By Lender Not a Waiver. Extension of the lime for payment or modification of amonization of the sums secured by tbis Security Instrument granted by tender to any successor in interest of Borrower shall not operate 10 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 to extend ti~e fOT paymenl or otherwise modify amortization oflbe sums secured by tbis 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 not be a waiver of or preclude lbe exercise of any rigbt or remedy. II. Sueeessors and Asalgos Bound; Joinl and Several Liability; Co..[gners. The covenants and agreements of this Securily Inslrument sball bind and benefil the successors and assigns of Lender and Borrower. subject 10 tbe provisions of paragraph 17. Borrower's covenants and agreements sball bejoint and several. Any Borrower who co-signs tbis Security Instrument but docs not execute the Note: (a) is co-signing this Security Instrument only to mortgagc, grant and convey that Borrower's interest in the Propeny under lheterms of this Sccurily Instrument; (b) is nol personally obligoted to pay the sums secured by this SecurilY Instrument; and (c) agrees Ihat Lender and any olher Borrower may agree to extend, modify, forbear or make any accommodations with rcgard to the terms of this Security Instrument or the Note without that Borrower's consent. 12. Loan Charges. If Ihe loan secured by tbis Security Instrument is subject to a law wbicb sets maximum loan cbarge<, and that law is finally inlerpreted so tbat Ibe intere<t or otber loan cbarges collecled or to be collected in connection with tbe loan exceed the permitted limits, then: (a) any sucb loan cbarge shall be reduced by tbe amount necessary to reduce Ihe charge to the permiUed limit; and (b) any sums already collccted from Borrower wbicb exceeded permitted limits will be refunded to Borrower. Lender may choose to ma)ce this refund by reducing Ibe principal owed under tbe Note or by making a direct payment 10 Borrower. If a refund reduces principal. the reduction will be treated as a panial prepaymenl witboUl any prepayment charge under the Nole. 13. Legislatioo Affecting Lender's Rigbts. If enactment or expiration of applicable laws bas tbe effect of rendering any provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option. may require immediate payment in full of all sums secured by tbis Security Instrument and may invoke any remedies permitted by paragrapb 19_ If Lender exercises Ibis nption. Lender sball U1ke tbe steps specified in tbe second paragraph of paragrapb 17. 14. Notices. Any notice to Borrower provided for in tbis Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of anolber metbod. The notice sball be directed to the Propeny Address or any otber address Borrower designates by notice to Lender. Any notice to Lender sball be given by first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in Ibis paragrapb. 15. Governing Law; Severability. This Security Instrument shall be governed by federal law and tbe law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the NOle confticts witb applicable law. sucb confticl sball not affect otber provisions of Ihis Security ]nstrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower sball be given one conformed copy oftbe Note and oflhis Security InstrumenL 17. Transfer of the Properly or a Beneficiallnlerest in Borrower. If all or any part of tbe Property or any interest in h is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender"s prior wriucn 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 jf exercise is prohibited by fedorallaw as ofthe date oftbis Security InslrUment. If Lender exercises this option. Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period. Lender may invoke any remedies permiued by Ibis Security Instrument wilhoUl funber notice or demand on Borrower. 18. Borrower's Right to Rein5tate. If Borrower meets certain conditions, Borrower shall have the right to have enforcemenl of this Security In'trument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinsUllement) before s,de of the Property pursuant to any power of sale contained in tbis Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under tbis Security Instrument and the Note had no acceleration occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to. reasonable attorncys' fees; and Cd) takes such action as Lender may reasonably require to assure that [he Hen of [his 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. tbis Security Instrument and the obligations secured hereby sball remain fully effective as if no acceleration had occurred. However. tbis rigbt 10 reinstate shall not apply in the case ofacccleralion under paragraphs 13 or 17. NON.UNIFORM CoVENANTs_ Borrower and Lender furtber covenant and agree as follows: u. "_II Idlcm; a-edIea. LeIIder tbaII slYe aotIce to Borrower prior to aeceleratloo following Borrower's br-" of.,. _or.-.Ia lWa SecaritJ lnatnun""l <but not prior to aeceleratlon under PlU1llP'llpbs 13 and 17 ..... .,.ucabIe law pravIda otIIenriae). Tbe oolke tbaII apedfy: (a) !be default; (b) lbe action reqn1red tn eure the deIa8ll; (el. Ute,....1e8a tUa 30 u,. from the date !be aotIce II Riveo to Borrower, by wbidl the defanll must be cured; ... (d) lbI &IIare to .,.,.., lIle deruIl OD ... before !be date specified ID tho noti.. may resull in aeeeleration of lbe sums ....... .,. tIIIa Seautl)' IDslnImat ad aaIe of !be Property. 11uo DOll.. sbaIl furlher inform Borrower of the rigbl to ~ after -..IeratI... ad lbe rIPt to briDII a mart adIoa to _ lbo non-existonee of a defaull or any otbor *'- ofllorrower to IICIeeIonltIoIIlllllllllo. U the deflllllla aot cured 00 or before the dale speelfted in lbe noli... Lender .. III ..... _ reqaIre l1DIMlIIaIe ..,.... Ia Ia11 of .n _ oocnred by thIa Securlly IOSln1m""t wilhout furthor ......I11III_ lavolle lbe power or ale ud..,. otIIer.-edlea p....llted b,. applicable Jaw. Lender .han be entitled to c:oDoct aD a_ 1IIaanol Ia .......... lIle .-edIea prcrrIded in thIa _b 19, Indudloa, bUI not limited 10. .-we........,... r_... ..... oftllle..........