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as-- 1075?8 S. Condemnation. The proceeds of any award of claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shal I be paid to Lender. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security instrument, whether or not then due. with any excess paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender otherwise agree in writing, thesums secured by this Security Instrument shall be reduced by the amountof the proceeds multiplied by the following fraction: (a) the total amount orthe sumssecured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall 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 orsettle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice isgiven, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sumaserured by this Security Instrument. whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall notextendor postpone the due date of the monthly payments reierred to in paragraphs 1 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 tttodification of amortization of the sums secured by this Security Instrument granted by Lender w any successor ire 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 successor in interest or refuse to extend time for payment or otherwise modify amortization of the sumssecured by this Security Instrument by reason of any demand made by the original Borrower r Borrower's successors in interest. Any forbearance. by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 11. Successors and Assigns Bound; Joint and Several Liability: Co-signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of !.ender and Borrower, subject to the provisions of paragraph IT 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 Property under the terms of this Security Instrument: (bl is not personally obligated to pay the sums secured bythis Security Instrument: and ic) agrees that lender and any other Burrower may agreetoextend, modify, forbearor 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 taw is finally interpreted so that the interest or other loan charges collected or to he collected in connection with the loan exceed the permitted limits. then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted line; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borruvv er. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If arefund reduces principal. the reduction w ill be treated as a partial paymew with out any prepayment charge under the Note. 13. Legislation Affecting Lender's Rights. If +•nactnient or expiration of applicable laws has the 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 this Secu, ity Instrument and may invokeany- remedies permitted by paragraph 19. If lender exercises this option. Lender shall take the steps specified in the second paragraph cif paragraph 17. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailingot by first class mail unless applicable law requires 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 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 giver, as pros ided in this paragraph. 15. Governing Law; Severabiiity. This Security- Instrument shall tw go%erned by federal lace and the law of the jurisdiction in which the Property is located in the ,-cent that any pro%i>n,n ur clause of this Security Instrument or the Note confiicLN with applicable law. such conflict shall nut affect Other provisions of this Sec-urety Instrument 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. I& Borrowers Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Transferof the Property or a Beneficial Interest in Borrower. If al I or any part of the Propertyor any interest in it is sold or transferred (or if a beneficial interest in Burrower is sole 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 all sums secured by this Security Instrument. However, this option shalt not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security instrument. If Lender exercises this option, Iendershali give Borrower noteceof acceleration. The notice shall provide a period of nut 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 by pay these sums prior di the expiration of th is period. lender may invoke any remedies permitted by this Security Instrument without further notice dernand ,.n Borro,ver In. Borrowers Ilium to Reinstate. if Bwruwrr meet, certain .ondetiuns. Burrower shall have the right to have enforcement of this Security lnstrumentdiscuntinuedat any 1ime prior to the earlier (A is.) a days (or such periodas applicable law may specify for reinstatement l before sale of the Prope. rtypur +uantt.,any is,xerofsaleo itaineLlmLhisSecurityInstrument ;or (b) entryof a judgment enforcing this Security Instruneert. 'Chose conditions are that Burrower. (a) pays Lender all sums which then would be due under this Security Instrument and the Note had nu acceierataen occurred; (b) curesary defaultof any other covenants or agreements: let pays all expenses incurred in enforcing this Se urity Instrument, including, but not limited to, reasonable attorneys fees: and (dl takes such action as lender may rewonahl,. require to assure that the lien of this 1 °cur ity Instrument. Lender's rights in the Property and Borrower's obbgateur, to pay the sums secured by this Security Instrument shall continueunchanged Upon reinstatement by Borrower. this Security Instrument and theobl igationssecured hereby shall remain fully effective as if no acceleration had occurred. However. this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17. Au1i -t! NI FORM COVENANTS. Borrower and Lender further convenant and agree as follows: L 18. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration fo11• wing Borrower's breach of any covenant or agreement in this Security Instrument i but not prior to acceleration under paragraphs 1:1 and 17 untew applicable law provides otherw-ises. The notice shall specify is.) the defauls, Oil the action required its cure the default, (cI adate. not less than 30 days from the date the notice is given to Burrower 1,y which the default must be cured. and Id) that failure to cure the default on or before the date specified in the note may result in acceleration of the.uni- secured by this lwcurity Instrument and sale of the Property The notice shall further inform Burrower of the right to reinstate after acceleration and the right to tiring a court action to. awe•rt the nun- t-%Wence Of it default or any other defense of borrower to acceleration and sale If the default is not cured on Or heiore illy date specified in the notice. Lender at its option may require immedistr payment in full of all %uoi% —cured by thi% yrrurity Instrument without further demand and may invoke the powrrar sale and any oilier reotedir. periitted by applicable law Lender shall be emitted to collect sit e.spettses incurred in pursuing the remedir. pro %ided in thi. lsarograph 19 including but not limited to, room obW alUrrneyi fete and ctwits sit title rr"stlenry sown u.-r — *— I r