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.(16974
<br />9. Condemnation. The proceeds of any award of claim or damages; direct or consequential, in connection with any
<br />condemnation orother taking of any part of the Property, or fir conveyance in lieu of condemnation, are hereby assigned and schall
<br />be paid to Lender.
<br />In the event of s. total taking of the Property, the proceeds shall be applied to the sums at-cured by this Sewritylnstrument,
<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, the sums secured by this Security l nstrumentshatl be reduced by the amountof the proceeds
<br />multiplied by tite following fraction: (a) the total amount of the sums secured immediately before the tal• ing, 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 'offersto make an
<br />award or settle a claim fordamages, Borrower fails to respond to Lender within 30days after the date the notice is given, [;ender is,
<br />authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums seeured 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 notextend or postpone
<br />the due date of the monthly payments referred loin paragraphs 1 and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification
<br />of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interestof Borrower shall
<br />not operate to release the liability of the original Borrower or Borrower's successors in interest: Lender shall not be required to
<br />commence proceedings against any successor in interest or refuse to extend time for paymentor otherwise modify amortization of
<br />the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrowei0a *U'ccem" in
<br />interest. Any forbearance by !.ender in exercising any right or remedy shall not be a waiver of or preclude theexerciaeof anyright
<br />or remedy.
<br />11. Successors and Adsigns Bound; Joint and Several Liability; Co- signers. The covenants and agreements of this
<br />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 toextend, modify, forbearor
<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 tie 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 t i the
<br />permitted line; and (b) any sums already collected from Borrower which exceeded permitted limits will he refunded to Burrower.
<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 Lender's 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 Secui ity 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. Not ices. Any notice to Borrower provided for in this Security Instrument shall be g iven by delivering itor by mailingot
<br />by first cis" 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 he 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 fender 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 ant: the Note are declared to
<br />be severable.
<br />1& Borrowers 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 for 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 Burns 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 notice of 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 thesesums prior to the expiration of this period. Lender may invokeany remedies permitted
<br />by this Security Instrument without further notice ,ir demand on Borrower
<br />1n. Borrowers Rignt to Reinstate. Ii Borrower meets certain conditions, Borrower shall have the right to have
<br />enforcement of this Security I nstrument discontinued at any;,time prior to the earlierof: 1 5 days (or such period as applicable law
<br />may specify for reinstatementl before sale of the Property pursuant to any powerofsalentained in this Security Instrument: or
<br />(b) entryof a judgment enforcing this Security Instrument. Those conditions are that $orrovter: (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 />P ION-UNIFORM COVENANTS. Borrower and Lender tnrther convenant and agree as follows:
<br />18. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's
<br />breach of 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; ic) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cu red;
<br />and M that failure to cure the default on or before the date specified in the note may result in acceleration of the sums
<br />secured by thin Security lnalrument and sale of the Property. The notice shall further inform Borrower of the right to
<br />reinstate after acceleration and the right to tiring it court action to assert the non - existence of a default or any other
<br />defenot of Borrower to acceleration and sale. If the default is not eared nn or liefore the date specified in the notice,
<br />Lender at Its option may require immediate payment in full of ali sutiss secured by this Sevority Instrument without
<br />further demand and may invoke the powerorsaie and any other remedies permitted by applicable law. Lender shall be
<br />Entitled to collect all expenses incurrwi in pursuing the remedies provided ire this paragraph Ito. including, but tot
<br />limited to, resonable attorneys' fees anti tYawts of title ek idenee. fiJAY "Mos..a«+ i 4
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