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<br />9. Condemnation. The proceeds of any award of claim for damages, direct or consequential, in connection with any
<br />condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned andshall
<br />be paid to Iender,
<br />In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument,
<br />whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property, unless Borrower and
<br />Lender otherwise agree in writing, thesums secured by this Security Instrument shall be reduced by the amountof the proceeds
<br />multiplied by the following fraction: (a) the total amountof the sums secured immediately before the taking, divided by (b)the fair
<br />market value of the Property immediately before the taking. Any balance shall be paid to Borrower.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an
<br />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
<br />authorized to collect and apply the proceeds, at itsoption, either to restoration or repair of the Property or to the sums secured by
<br />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 postpone
<br />the due date of the monthly payments refe -red to in paragraphs 1 and 2 or change the amount of such payments.
<br />C►'� 10. Borrower Not Released; Forbearance Bylender Not a Waiver. Extension of the time for payment ormodification
<br />!}t of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall
<br />00 not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to
<br />CO commence proceedings against any successor in interest or refuse to extend time for payment or other wise modify amortization of
<br />® the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in
<br />interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiverof or preclude the exercise of any right
<br />or remedy.
<br />r 11. Successors and Assigns Bound; Joint and Several Liability; Co- signers. The covenants and agreements of this
<br />00 Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of
<br />paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co -signs this Security
<br />Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage, grant and convey that
<br />Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums
<br />secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or
<br />make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges,
<br />and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan
<br />exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the
<br />permitted line; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower.
<br />Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to
<br />Borrower. If a refund reduces principal, the reduction will be treated as a partial paymetn with out any prepayment charge under
<br />the Note.
<br />13. Legislation Affecting Lenders Rights. If enactment or expiration of applicable laws has the effect of rendering any
<br />provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option, may require
<br />immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies permitted by paragraph
<br />19. If Lender exercises this option. Lender shall take the steps specified in the second paragraph of paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering itor by mailing ot
<br />by first class mail unless applicable law requires another method. The notice shall be directed to the Property Address or any
<br />other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address
<br />stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument
<br />shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph.
<br />15. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the
<br />jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note
<br />conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be
<br />given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to
<br />be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is
<br />sold or transferred (or if a beneficial interest in Borrower is sole or transferred and Borrower is not a natural person) without
<br />Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Security
<br />Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this
<br />Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower noticeof acceleration. The notice shall provide a period of not less
<br />than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security
<br />Instrument. If Borrower fails by pay these sums prior to theexpiration of this period, Lender may invoke any remedies permitted
<br />by this Security Instrument without further notice or demand on Borrower.
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have
<br />enforcement of this Security Instrument discontinued at any time prior to the earl ier of: (a) 5 days (or such period as applicable law
<br />mayspecify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument: or
<br />(b) entryof a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which
<br />then would be due under this Security Instrument and the Note had no acceleration occurred; (b) cures any default of any other
<br />covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to,
<br />reasonable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security
<br />Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall
<br />continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain
<br />fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under
<br />paragraphs 13 or 17.
<br />NON- UNIFORM COVENANTS. Borrower and Lender further convenant and agree as follows:
<br />19. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's
<br />breachof any covenantor agreement In this Security Instrument (but not prior to acceleration under paragraphs 13 and
<br />17 unless applicable law provides otherwise). The notice shall specify: (a) the defauls; (b) the action required to cure the
<br />default; (c) a date, not lessthan 30 days from the date the notice is given to Borrower, by which the default must be cured;
<br />and (d) that failure to cure the default on or before the date specified in the note may result in acceleration of the sums
<br />ascured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to
<br />reiraitate after acceleration and the right to bring a court action to assert the non - existence of a default or any other
<br />defense of Borrower to acceleration and sale. If the default is not cured on or hefore the date specified in the notice.
<br />Lender at its option may require immediate payment In full of all sums secured by this Security Instrument without
<br />further demand and may invoke the power or sale and any other remedies permitted by applicable law. I ender shall be
<br />entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 19, including, but riot
<br />limited to, rewmable attorneys' fees and costae of title evidence.
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