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201�00�94
<br />HQ110074406
<br />{�artial taking, destruction, 01' I053 IIl ViIIIIC CIIVICIC(I hy �L7� LI]C I`f1IP 111�11'I�L`C VflILIC Ot tI7C PI'O�L'1'Cy IIi1117CC�1f3l0Iy het0t'e TI70 �l artial
<br />takii�g, destruction, or loss in value. Any balance shall be paid to Fiorrower.
<br />In ihe cvcnt ol' a parlial laking, dcstruclion, or loss in valuc of thc l'ropa•ly in wliich thc I�ir n�arkct valuc oF thc
<br />Property immediately bei'orc thc partial taking, dcstructioii, or loss i�i value is less than the arnouiit of thc sums secured
<br />im�»e�liately befi�a�e ihe partial taking desiruction, or loss in value, unless I;orrower �nd Lender otlierwise agree in wriiii�g, ihe
<br />Miscellaneous Procecds shall bc applicd to thc sums scourcd by this Sccuricy Instrumcnl whcthcr or not thc sums arc thcii duc.
<br />lf the I'roperty is abandoned by I.;orrower, or if, a(ter notice by Lencier to l3orrower that the U�p��sing Party (as defined in the
<br />next sentcnce) otters to inakc an award Lo settic u cl��im for damagcs, Qorrowa• fails to respond to Lendcr within 30 days afla•
<br />lhc dalc lhe nolicc is givcn, I,ender is authorized to collect an�i apply the Miscellaneous Proceeds either tn restorGltion nr repair
<br />of tlle Propa or to the sums sccurcd by this Sccurity Instrumalt, �vhethcr or not thcn due. "Opposing I?arty" mc�ns the tl�ird
<br />party chat owes 13orrower Miscell�neous I'roceeds or the party against whom t�orrower has a right of action in re�ard to
<br />Miscellancous Proceeds.
<br />Borrower shall be iii default if any action or proceeding, whethec civil or criininal, is be�ui� that, in Lciidcr's,judgn�cnt,
<br />could resulf in lorlciturc of the Property or olhcr m�itcrial impairma�t of I,cndcr's inlerest in lhe Prnrerly or rightti under thi5
<br />Security Instrumcnt. 13orrower can cure such a default and, if acceleration has occurrcd rcinstatc as provided in SccCion l9, by
<br />causing ilie actioi� or proceeding tn he dismissed witli a rulin� that, in Lcnda•'sjudgment, precludes Iot'leilure oPthe I'ronerty
<br />or other material impairmcnl of Lcndcr's inleresl in ihe I'roperly or righis under lhis Security Instriu��ci�t. The procceds oi�any
<br />a�v�rd o� - claim fnr �lamages ihat are �ttributable to thc imp�iirmcilt of Lendcr's intcresl i�� the Property are hereby assi�ned and
<br />shall he {�aid to Lendcr.
<br />All Miscellaneous Procecds thal arc nol applied to resloration or repair of�the I'roperty shall be applied in the ordcr
<br />provided for in Scctioi� 2. ,
<br />12. Borrower Not Rele:tsed; P'orbearance By l�ender Not a Waiver, Extensioi� of thc timc for p�iymcnl or
<br />mvdilication of amortiration nf the si�ms secured by this Security Instruinent grantcd by I.,cnder l0 13orruwer ar any Successnr
<br />in Intcrest of� I_3orrower shall not operate to release the liability of Borrower or any Successors in Inlcresl of L3orrower. L,ender
<br />shall not bc rcquired to commcnce procecdings againsl any Successor in Inleresi of l3orrower or to refuse to extend time for
<br />raymei�t or otherwise modify aniortization of thc sums sccurcd by this Sccurily Inslrument by reason of any demand ma�le hy
<br />the original Borrower or any Successors in Inlcrest of� l3orrower. nny li�rbearance hy l,ender in exercising any right or remedy
<br />including, withoul limilation, L ender's acceptance of payments from thii�d pei'sons, ei�tiCics or Succ;cssors in Intcresi of
<br />L3orrowcr or in amounts lcss than the a�7iount then due, shall nnt be a waiver nf or prccludc ihe exercise ol' �ny right or rernecly.
<br />13. Joint aud Several 1.�iability; C,o Successors and Assigns Bound. 13orrower covenants and a�recs chat
<br />13o�'rowe�''s obli�ations �tnd liability shall be joii�t and scvcral. Ilowever, �tny Rorrowa• who co-signs this Seciu•ity Instrument
<br />hut docs noc exccule lhe Note (a "co-signcr"): (a) is co-si�nii�g ihis Security Instrument only to mortgagc, grant and convey ihe
<br />co-si�ner's interest in thc I'roperty under the terins of this Sccurily InsU•urnent; (b) is nol perscmally nbligated to pay thc sums
<br />sccurcd by tl�is Security Insh•umcnl; and (c) agrees that Lendcr ai�d uny other l;orro�ver cai� agrcc to cxtend, mndify, Porheur ar
<br />make any accommodations with re�ard to the ta•ms ot�this Securily Inscrui��ent or thc Nole wiihnut the co-sigi�cr's conscnt.
<br />Subjcct to fhe provisions of Section 18, any Successar in Interest of Borrowcr who assumes Borrnwci obligations
<br />uiuler Chis Security Iiistcumc��l i�� w�•iting, and is approved by Lcnda•, shall obiaii� all of'Boi ribhts �in�1 henefiYS under
<br />fhis Sccurity li�strument. Borrowcr shall nol be release�l I�rnm Borrower's obligalions ai�d liability w�der ihis 5ccurity
<br />]nslrumcnl unless 1_, ender agi to such rcicase in writin�. "I'he covenants ai�d agrccmcnts af this tiecurity fnstrument shall
<br />hind (except as provided in Scction 20) and henelit the successors aitd assigi�s of L ,ender.
<br />l4. I.oan Char�;es, Lcnder may char�;e 13orcawc;r fees fur services �?erformed in connectiott with 13orrower's default,
<br />for the purpose of pi Lcnder's inleresl in the Property ai�d rights under this Se;curily Instrurnent, includin�, but not
<br />lit��ite�l Lo, attorneys' fees, pro�crty inspcction and valuation lee5. In re�lyd to ai�y nther lecs, lhe absence of express authnrity
<br />in Yliis Security [i�strui��ciit lo diarge a specilic fee io 13orrnwer shall iiot he construcd as a prohibition on the chai of such
<br />lee. L,cnder may not char�e fees ihat are expressly prohibitcd by this Sccurity Insirument or by Applicablc L�w.
<br />lf lhe Loan is suhjeci to a law �n�hich sets maxiinum loan chargcs, and lhat la�v is linally inCerpreted so that thc iiltcrest
<br />or nther loan ch�rgcs collecled or lo be collecle�l in connection with the Loan cxcccd fhe permitted limits, then: (ei) any such
<br />loan charge shall be reduced by the amounl ncccssa�y lo rcducc ll�e charge in the permitted limit; �i1d (b) ai�y sunls alrcady
<br />collccte:d ti•om 13orrower which exceeded permitted lin�ics wili bc rcl'undcd to L3orrower. I,ender may choose to inake chis
<br />refund by rcducing thc principal owed under the Note or hy makii�g a direct payinci�t to Borrowcr. If a refu��d reduces
<br />principal, llte re�luclion will he treated as a partial prepayment without �any prcpaymcnt charbe (wheiher or not a�repayrnent
<br />NE[3RASK.4--Single �nmily--To-�nnic M�c/b'rcddic Mac UN11�OIiM INS'1'RI1Mb;N'1'
<br />� 3382 P�gc 8 of 12 I�ur�r� 3028 1/O1
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