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9. Condemnation. Thc proceed~ of ony nword or cloim for domngcs. direct nr cllnseqagi::i7in C~I~~~W~I~ nn)' condemnation or other taking of any PUfl of the Property, or for conveynm:e in lieu of condemnation, are hereby ossign,'tInnd sholl be poid to Lcodcr. In Ihc c"cnl of 0 lotoltoking of Ihc Property, the proceed~ sholl bc opplied to the sums secured by lhis Security lostrumcnt, whether or nOllhen due. with ony excess paid to Borrower. In the evenl of a parlialtaking of the Properly, unless Borrower and Lender olherwise agree in writing, the sums secured by Ihis Securily Inslrument shall be rednced by the amount of the proceeds muhiplic:d by the following fraclion: (a) Ihe lotal amount of the sums securc:d immediately before the taking. dividc:d by (b) the fair market value of the Propeny immc:diately beforelhe taking. Any balance shall be paid to Borrower. If the Properly is abandoned by Borrower. or if, after notice by Lender to Borrower that Ihe condemnor olfers to make an award or senle a claim for damages. Borrower fails to respond to Lender within 30 days ofter the dale the notice is given. Lender is authorized to collect and apply Ihe proceeds, at its oplion, either to restoration or repair of the ProperlY or to the sums secured by this Security Instrument. whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date crlhe monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. 10. Borrower Not Releaaed; Forbearance By Lender Not a Wal.er. Extension of Ihe lime for payment or modification of amortization 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 succ"Cssor 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 interest. Any forbearance by Lender in exercising any right or remedy shall nol be a waiver of or preclude lhe exercise of any righl or remedy. 11. Suceessors and Assigns Bound; Joint and Se.eral Liability; Co.slgners. The covenants and agreements of this Security Instrumenl shall bind and benefit lhe successors and assigns of Lender and Borrower, subject 10 Ihe 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: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the ProperlY under the lerms of this Security Instrument; (b) is not personally obligatc:d 10 pay lhe sums securc:d by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend. modify, forbear or make any accommodalions with regard 10 the term~ of this Security Instrument or the Note without that Borrower's consent. 12. Loan Charges. If the loan secured by this Securily Inslrument is subject to a law which sets maximum loan charges. and that law is finally interprelc:d so that the inleresl or other loar, charges collectc:d or to be collectc:d in connection with the loan exceed the perminc:d limits. then: (a) any such loan charge shall be rc:duced by the amounl necessary 10 rc:duce Ihe charge to the permitted limit; and (b) any sums already collectc:d from Borrower which exceedc:d perminc:d limits will be refundc:d to Borrower. Lender may choose 10 make this refund by reducing the principal owc:d under the Note or by making a direct paymenl to Borrower. If a refund reduces principal. the reduction will be treated as a panial prepayment without any prepaymenl charge under the Nole. 13. Legislation Affecting Leoder's Rights. If enactment or expiralion of applicable laws has the elfect 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 this Security Instrument and may invoke any remedies perminc:d by paragraph 19. If Lender exercises lhis oplion. Lender shall take the sleps specific:d in Ihe second paragraph of paragraph 17. 14. Notiees. Any notice to Borrower providc:d 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 melhod. The notice shall be directc:d to the ProperlY Address or any other address Borrower designales by notice to Lender. Any notice 10 Lender shall be given by first class mail 10 Lender's address statc:d herein or any other address Lender designates by notice 10 Borrower. Any nOlice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. Go.eming Law; Se.erabillty. This Security Instrument shall be goveroc:d by fc:derallaw and the law of lhe jurisdiclion in which the Properly is localc:d. In the evenlthat any provision or clause of this Security Instrument or lhe Note conflicts with applicable law, such conflict shall not alfecl olher provisions of this Security Instrument or the Note which can be given effect without the conDicting provision. To lhis end the provisions of lhis Security Instrumenl and lhe Note are declarc:d to be severable. 16. Borrower's Copy~ Borrower shall be given one conformed copy of the Note and of Ihis Security Instrument. 17. Transfer of the Property or a Benefielallnterest in Borrower. If all or any pari of the Propeny or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) withouIl.ender's prior written consent. Lender may. al ils option, roquir. immediate payment in full of all sums secured by this Security Instrument. However. this option shall nOl be exercised by Lender if exercise is prohibited by fc:deral law as ofthedateofthis Security Instrument. If Lender exercises this option. Lender shall give Borrower notice of acceleration. The nOlice shall provide a period of not less Ihan 30 days from the date the nOlice is delivered or mailc:d wilhin 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 pennitted by this Security Instrument without further notice or demand on Borrower. 18. Borrower's RiRht to Peinstate, If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued ~t any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatemenl) before sale of the Property pursuant 10 any power of sale cootainc:d in this Security instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which lhen would be due under this Security Inslrumenl and the NOle 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, reasonabJe al1omeys' fees; and Cd) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument. Lenders rights in the Property and Borrower's obligalion to pay the sums securc:d by this Security Instrument shall continue unchanged. Upon reinstatemenl by Borrower, this Security Instrument and the obligations secured hereby shall remain full)' effective as if no acceleration had occurred. However. this right 10 reinstate shall not apply in the case of acceleration under paragraphs 13 or 17, NON.UNtFORM COVENANTS. Borrower and Lender funher covenant and agree: as follow~: 19. AcceIeratioa; Remed1... Lender ...... gi.e DOtice to Borrower prior 10 aeceleration following Borrower's ......... of aJ' co.enant or qreementln this Security llIIIrument (but Dot prior to acceleration under parallJ1lphs 13 and 17 uIeM ..,ueabIe law proridei othenrlle). The notice ...... .peelf)', (II the default; (b) the aetion required to cure the defllllt; (e)lt!Ile, not.... thin 3OcIa)'11ro1l1 the date the notice II gi.en to Borrower, by whieb the default must be cured; ad (dl I1ad rllll,,", to core the defult on or before the cia... opecIlIed la the aotice may result In acceleration or the sums IecI!red II)" this Security lllllrumeat ad .... of the Property. n. notice .ball funher inrorm Barrower of the rlghllo relIIItIte lifter ICI:Olent1on ad the rllht to bring I collrl .et1on to ....rt the nan..xistenee of a default or any other def_ of Borrower to aeoeIeratioa IIId III.. If tbe default I. aot cured oa or before the dale specified in tbe nOlloe. Lender .1 III optioa 1IIlI)' require IlIIIIIOdlllte pa)'ment In foil or II' .IIIDI aecured by this Securit). Inslrument without furlher demand ud ma)' lavoke the power of.... ad III)' other remedl.. permitted b)' appllcablo I.... I..ender shall b. .nlilled 10 eoIlect III ..__ llICIJtred II ,.raulal the re-.ll.. pro.lded ia tbis paragr.ph 19. including. bul not limit.d to, ~ .1I......y.. f_ aadcosll of I1tie ...Idenft.