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2o�i0s623
<br />P�� ��, destruction, or loes in value divided by (b) the fair market vaiue of the Property immediatefy before the pertial
<br />��, deatructlon, or loss in value. Any balance shall be paid W Borrower.
<br />In thc event of a� taking, destrucdon, or loss in value of the Property in which the fair market value of thc
<br />�P�Y ���7y 1�e ore thep tak�n� destruction, or loss in value 3S less tl�an the amouat of the sums secured
<br />m�mediately before tite pardal teking,�Beskvcdon, or loes in value� unless Borrower and Lender otherwise agree ia wrlttng,
<br />the MiaceUaaeoas Proc�ds ehall be applied to the svms secnred by Wia S�urhy Instrumem whether or not the sums are then
<br />dne.
<br />If the Properry is abandoaed by Borrower, or �f after nodce by Lender to Borrower that the Op�sing Pazty (as
<br />dcRned 1n trie next sentence) offers to make an award to settle s claim for damages, Borrower faila W respond to I.endcr
<br />wtthin 30 days aRer the date t6e notice is givea, Lender is authoHzed to colleci and apply rhe M3scellaaeaus Pruceeds either
<br />to restorarion or repair af the Property or to the sums secured by this Security Instnnnent, whether or not then due.
<br />"Opp�iag PeriY° means the dilrd party that ow� Borrower Mlscellaneous Proceede or the party againat whmn Boaower has
<br />a rjght of actian-In regard W Miscellaneous Procceds.
<br />Sorrower s6a1i be fa default if auy action or p whether c1vI1 or crm�inal; fs begnn d�at, in I.ender'a
<br />judgment could rauit ln forfeiture of the Progerty or other ma ' impairment of L,ender's interest 3n the Property or rights
<br />nnder this' Securiry Instrument. Bonower can cure such a default and, if acceleration has acciured, reia�te as
<br />Section 19. ProvIded In
<br />by causing the actlon or pra�ing to be dismissed wIth s niling that, in Lender'sjud�u►ent, Precludes forfeiture
<br />of tite Property or other materlal impairment of Lender's interest in the Properiy or dghffi imder this S�urIty Ie,ar",,,,e±±±
<br />The proceeds of azry award ar claim for damages that are amibutable w the impairment of I,ender's interest in the Properiy
<br />are hereby assigned a� shall be paid to I.ender.
<br />All MisceIlaneons Proceeds tLat are not applfed to restoration or repair of the Property shall be applied in the order
<br />provided for in Secflon 2.
<br />12, Bon�wer Not Re�eae�; Forbearaoce B' Lender Not a Waivcr. Extension of the time for payment or
<br />modificaUon of amortizaflon of the swns secured by this Securiry Instrumeat granted by Lender w Borrower or any Sur,c�sor
<br />in Intemst of Borrower ahall not operate � rele�se thc liabiliry of Borrowez or azry Succeasors in Intesest of Borrower.
<br />Lender sha11 not be required to commeace proeeediags against airy Successar in Interest of Borrower or to refuae to extend
<br />time for payment or otherwise modify amottfzation of the sums secured by ihlc Security Insuvment by reason of any demand
<br />made 6y the original Borrower or any �uxessors in Interest of Borrower. Any forbeareace by Lender in exercisiag azry right
<br />or remedY fncluding, wittwut Umitadon� Lender's acceptance of paymems from third persons� entilies or Saccesaors in
<br />Interest of Botrower or in amoimts lass ihan the amount then due, shall nat be a waiver of or preclude the exercise of azry
<br />�gnt o� re�eay.
<br />13. Joint and Several Ltabillty; Ca-signers; Succe�ors and Aseigne Boimd. Borrower covenanu and agees that
<br />Borrower's obllgations and liabilit�+ adall be jolnt arnl several, However, azry Borrower wko co-signs rhis 5ecw3ty Inemtment
<br />bui doas not execute the Note (a ' co-slgner"): {a) is co-sigNng thia Security Insavment only to mortga e,�nt and convey
<br />the co-sig�r's mtereat m the Properiy under the terms of this Security Insuument; (b) is nat peraonaUy�obllgated W pay the
<br />soms sec+uerl M' th3s SecvritY Insuament; and (c) agrees that Lender and any other Borrower can agree to extend, modify,
<br />forbear or meke any accnmmodations with re�ard w ihe terms of this Security insuvment or the Note without the co-signer's
<br />consent.
<br />Subject to the provisioas of S�tlon 18, azry Successor in Interest of Borrower who assumes Borrower's obllgatlons
<br />under this Securiry Inst�meat in writing aad is approved by Lender, shall ob�3n all of Borrower's rlghts and benefits under
<br />this Security Insrivment. Bormwer shall not be released from Borrowar's obHgaflons and lisbiliry under dils Security
<br />Inatmment unl�s Lender agrees W such release in wrftucg. The covenants aud agreements of this Securlry Instrument shaU
<br />bind (except as provided in Secdon 20) and bene8t the successors and assigns of Leader.
<br />Y4. Loan Charges. Lender may charge Borrower fees for servtces performed in coane�don with Borrower's default,
<br />for the purpose of protectfng Le�ier's iaterest in the Praperty aad rights under this Security Iasm�ment, incl�ding, but not
<br />limited to, attomeys' fees� ProPeriY �s�Ction antl vafuation fces. In regard to any odier fees, the absence of exgreas
<br />authorriy 3n t6is Securiry Instrument to charge a speciflc fee to Bonower shall not be consuued as a prohffiiaon on �e
<br />� ging of such fce. Lender may not charge fees ttiat are expressly prolu'bited by t6is Security Inatrumeat or by Apglicable
<br />If the Loaa is subject to a law which sets maximwn loan charges, and t6at Iaw is finally interpreted so that ohe taterest
<br />or nther loan charges coll�red oz to be collecteil in connectton wilh the Loan exceed the permitted llmiu, then, {a) anY such
<br />loan charge shall be reduced by the amount n�essary to reduce the chargc to the permitted limit; end (b) anY sums eireadY
<br />colle�ted from Borrower which exceeded permltted limits will be refimded to Borrower. Lender may choose to make this
<br />refimd by reducing the prh�cipal owed tmder the Note or by making a direct paymeat ro Borrower. If a refimd reduces
<br />principal, the reduction will be treated as a partia] PrePaYment v+dthout enY PlepaYment charge (whether or not a PTePaYment
<br />charge is provided for under the Note). Bozrower's acceptance af auy such refimd made by direct payment ro Borrower wIll
<br />constitute a waiver of azry ri�ht of action Borrower mfght have arising out of such overcharge.
<br />1S. Not[ces. Alt nodces given by Borrower or Leader in comiectlon with this Secvrity Instnnnent must iie itt wrlting.
<br />Any notice to Borrower in connecdoa with this Secarlty Juetnuaent ahal! tra deemed ro have been given w Borrower when
<br />mailal by first claes maii or when actuaUy deliver� to Bormwer's notice addiess if sent by other meana. Notice to any one
<br />Borrower shall cons� notice to all Borrowers ualeas Applicable Law expressly requires otherwise. The notice address
<br />shall be the Praperty Address anless Horrower t�aas desigaated a substiuue natice address by noSce to Le�er. Borrower shall
<br />prompdy nodfy Lender of Sonower's change of address. If Lencier speeifles a proc�ure for reporting Borrower's eLange of
<br />address, then Borrower shaU onlp report a change of address thmugh that specffied procedure. There may be only one
<br />designated nodce address under this Securiry Instrumeat at eny one tiroe. Any norice to I.ender sLall be g3ven by deliveriag lt
<br />or by mailing it by first class mail to I.eader 8ddI868 6tS[CQ 11e1'C1II IIDIC86 LC�Bi U86 lIC6�8DSt� BDOt}ICI A(Ia7C86 bj� IIOtICE CO
<br />Barrower. Any notice fa connecdon with this SecuriRy Insuument shall aot l� desmed to have been givea w Lender undl
<br />A �13cable Lawed by Lender. If auy notice required by this Security Insrivment is also required under Applicable Law, the
<br />PP re4ui�'ement will satisfy the conesponding recryiremert under this Security Instrument.
<br />16. Governlag Law; 5evera�llhy; $ule� of Conetruckion. This Securiry Instrument ehall be governed hy federel law
<br />and the law of the Jurisdiction Ia wbicn ihe Properry is locarea. Au rights and onligeaons cont�ea in rhis seciuity
<br />Instrumeat are subJect m aay requiremems aad I�ritations of Applicable Law. Applicable Law might explicitly or impliciUy
<br />allow the parti� to agree by contract qr it might be ailent, but such silence ahall not be consu�uued as e prohibii�n a
<br />A�pplicsble L��aw, s�uch conflict shall not�aff� other mvisio cleuae�of this Secarity Insuument or the Note conflicts w�ith
<br />effect withoitt the confli F �1n' Inshvment or the Note which can be given
<br />As used ia this S� �vision.
<br />words or worda of the fw � ender; �� �a) worde of the masculine gender shall mean and iaclude corres�ndiag neuter
<br />word "ma ° vea sole discretio without � �� e �� � mean and iuclude the plural aad vice versa; aad (c) the
<br />y gi any obligatioa to take any acflon
<br />17. Sorrower's Copy. Borrower ahell Ire given one copy of [he Note and of this S�nrIay Inshvment.
<br />18. TransPer of the rty or a Beneficial Iater�t in Borrower. As used in this Sectlon 18, "Interest in the
<br />rianaf�m��y legal o��iclal 9ntecest in the Property, including, but rtot Hmfted ro, those beaeficiel i�ereata
<br />hoad for deed, conuact for deal, lnstallment seles contrect or escrow agrcement, the intent of which is the
<br />transfer of Utle by Bonower at a fudue date to a gurchaser.
<br />If all or azry part of the Property or any Incerest in the Property is aold or naneferred {or if Boaower is not a aawral
<br />person and a beaeficial intcrest in Borrower is sold or uansfened) wi@wnt Leader's prior w�ritten consent, Lender may
<br />COI.ORADO—Single Family—Fannle MealFreddls Mao UNIFONM INSTRUMENT
<br />�orm 3�6 y101
<br />e.nx.n smM+.. �+�.. sc c�ew, n�u ��o-i-co ensrmoo fwae s al'7a�1
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