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200808804 4048504390 restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be lIpplied to the slims securcd by this Securit v I nstrumcnt, whcther or not then due, with the excess, if any, paid to RoO'ower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Propertv, the Miscellaneous Proceeds shall be applicd to the sums sccurcd by this Security Instrument. whethcr or not then due. with the excess, if any, paid to Rorrm,vcr. In the event of a partial taking, destruction, or loss in vahw of the Properly in which the fair market value of the Property immediately before the partial taking, destruction. or loss in value is equal to or grealer than the amount of the sums seeured by this Security Instrument immediatelv before the partial tllking, destruction, or loss in value, unless Borrower and I,ender otherwise agree in writing, the sums secured b)' this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied bv the following Ihlction: (a) the total anwlUlt of the sums secured immediately beforc the partial taking, destruction, or loss in value divi,led by (b) the fair market value of the Properly immediately before the partial taking. destruction, or loss in nllue, Any balance shall he paid to Borrower. In the event of a partial taking, destruetion, m loss in value of the Property in which the fair market value of the Property immediately before the partial taking. destruction, or loss in value is less than the amount of thc sums secured immediately hefow the partialltlking, destruetion, or loss in value, unless BoO'ower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due, Iflhe Propert:, is abandoned by BoO'ower, or if, aner notice by Lender to Bmrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a elaim I'm damages, Borrower fails to respond to Lender within 30 days after the date the notice is givcn, Lender is authorized to collect and llPpl)' the Miscellaneous Proceeds either to restoration or repllir of the Property or to the SlUllS secured by this Securitv InstrLIlllcnl, whether or not then due, "Opposing PlIrty" means the third pat'!v that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds, BOI1'o\ver shall bc in defllult if anv action or proceeding, whethcr civil or criminal, is begun that, in Lender's judgmcnt, could result in forfcitnre of the Property or other material impainl1ent of Lender's interest in the Propetiy or rights under this Securitv Instrumcnt, Borrower can cure such a default and, if acceleration has occurred, rcinstate as provided in Section 19, by causing the action or proceeding to he dism issed with a ruling thaI, in Lender's j udg11lent, precludes forfeiture of the Property or other material impairmcnt of Lender's interest in the Propcrty or rights under this Security Instrumcnt. The proceeds of any award or elaim for damages that are attributable to the impainl1ent of Lender's interest in the Property are hereby assigned and shall he paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2, 12. Borrower Not Rdcased; Forbearancc By Lcndcr Not a Waivcr. Extension of the time for payment or modification of amortization of the SLuns secured by this Security Instnnnent granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or lIny Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise tnodi!Y amOliization of the SUIltS secured by this Security Instrument by reason of any demand made bv the original HOI1'ower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including. without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of BOJT(l\ver or in amounts less than the amount then due, shall not be a waiyer of or preelude the exercise of any right or remedy, 13. Joint and Scvcrul Liability; Co-signers; Succcssors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and sevend, lIowever, any Borrower who co-signs this Security Instrwnent but docs not execute the Note (a "co-signer"): (a) is co-signing this Security Instnunent only to mortgage, grant and convcy the co-signer's interest in the Property under the terms of this Security Instrument, (b) is not personally obligated to pay the sums secured by this Security Instrument, and (c) agrecs that I ,ender and alW other Borrower can agree to extend, modity, l(lfbear or make nnY accommodations with regard to the tenl1S of this Security Instn.nnent or the Note without the co-signer's consent. Subject to tho. provisions of Section 1 FI, any Successor in Interest of Borrower who assumes Borrower's obligations undcr this Security Instnnl1ent in writing. ami is llpproved by Lemler. shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released thHll Borrower's obligations and liability under this Security Instrument unless Lender agrccs to such release in writing. The covennnts and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of I,ender. NElm"VSKA--Single Family--Fannie Mae/Freddie Ma,.\TNIFORM INSTHt IIVlI(NT Mndified rnr V,\ 'Eo.' 338,2 Page 8 ,,1' .12 For III 3028 tlOl