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<br /> 9y� �Q���� LOAN NO. I 5 3 9 2 1 6 6�6 . . � '� . � "`=_
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<br /> 10.CandemnaUoa. The proceeds of any avyard or clafm ior damages,direct or consequential,in connectton with • -
<br /> � , any cor�demnatlon or other taking of any part of the Property,ot for conveyanae In liau of condemnaUon,are hereby , . .
<br /> assigned and shall be paid to Lender. , - -_
<br /> in tha sverrt of a total taking of the PropeRy,the praceeds shali be apAlied to tha sums securcd by this Securiry � . � � -�—
<br /> - Instrument,vrha3tmr or nat then due,with any excess paid to Borrawar.In thg event of a paR�al taking of the Property in _ -._
<br /> which the fair mart:et value of the Properiy immedlately before the taking is equal to or greater tPran the amount of the � . • -
<br /> sums secured by this Securiry Instrumert immed�ateiy before the taking,uNess Borrower and Lender otherwise agrae in f . .: �. __
<br /> wdting,the sums secured by thts Secur�y InsUument s4�a11 be reduced by the amount of the proceeds multiplied by the . .--
<br /> follovdng fr�c�on:(a)the total amount o#4he sums secured immediately before the tak(ng,divided by(b)the fatr market �
<br /> value af tha Property immedlatety before the taking.My 5alance shall be pald to Borrower.In the eveM af a parttal ' � , � ` �:_
<br /> taki�g of the Properry t�which the falr ma�kei valus of the Propetty immediatety before the taking is tess than the , , r �'
<br /> amaunt of the sums secured tmmedi�tely before the taking,uNass Borrawer and Lender otherw i se agree in w r i i[ng or � �
<br /> • unless appticabte law othenrrise provides,the ptaceeds shall be applted to the sums secured by this Security � • .n
<br /> Instrument whether or not the sums are then due. � ' ��
<br /> If the Property is abandoned by Borrowar,or ff,afcer notice by Lender to Borrower that the condsmnat offers to - '� ,�. �
<br /> enake an awar+d or setde a daim for damages,Borrower faits to respond to Lender within 30 days after the date the � ��' -
<br /> Qc�tice is given,Lender ts authorized to coilect and apply the praceeds,at its opUon,elther to restoration ar repa[r of the , • -"'�`���.+;..;�,:.
<br /> ' ; �roperty or to the sums sgcured by thfs Security Instrumerrt,whether or noY then due.
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<br /> z� Uniess Lender and Borrower otheTwtse agree in writing,any applic�tion of proceeds to prfncipat shafl not extend or • _ , . . ,:� -_
<br /> ,:� postpe�e due date of the mor�ihfy paymems referred to In paragraphs 1 and 2 or change the amount ar such ,� ,:,_,:�r�__
<br /> PaYm ': ,t: —�
<br /> � � 11.B�ower Hot Reteased;Forbearance By Len�er Nat a Waivee. Ext��lon of the tlme for payment or ' �� � ��
<br /> modiftcation of amortizaUon of the sums secured by tt�ls Secu�ty Instrument granted by Lender to any successor in . '�• -
<br /> iMerest of Borrower shall not operate to reiease the 1'�ab�ity of the original Borrower or Borrower's successors in :,�
<br /> ..��� [n t e r e s t L en de r s h a l l rt o t b e r e q u i r e d t o c o m m e n c e p ro ce e d t n g s a g a i n s t a n y s u c c e s sar in interest or refuse to extend r � _ � �.��
<br />� � Ume for paymeM or othemtse modify amosumtion of tha sums secured by thfs Security Instrument by reason of arry � `° ��'�r� �
<br /> � 1 ¢£c�r►and made by the origir�2J Borrower or Borrower's successors in tr�tetest GAe�y forbearance by Lender in exercising ,�.,_;:�� � � ��
<br /> '� �y rfgM or remedy shall R�me a waiver of or pred��a the exercise af any ri�7�2 ar remedy. s.,-�;:°.t��_. ��.: ��' �:
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<br />� :'�rs 12 Successo�and As�:�ns Bound;Joint and Seversl Vabtlity.'Co-s��u�s. The covenants and agreements of . . �- . .
<br /> :'.��� this Security I�meM shafl bind and b0neflt the successors and assigns of Lender and��wer,subject to the ., : Y��
<br /> eemerrts shalt be oirt and severai.My Borrower who , ��� �'�
<br /> crovistons of paragraph 17.Borrawer's covenarns and agr 1
<br /> o-slgns 4hls Securiry Inst��ment but does not execute ths Note:(a)is casigreing thls Security InsWment oniy to . � , "��+t y�
<br /> ,,� ' mortgage,grant and cotnr�y thai Borrawer's irnerest tn the Property under tle9 terms of thts Securiry Insirument;(b)is ; ;..:;:,�;,.,;� • ;� _��
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<br /> not personally ebllgated to g�ay the sums secured by this Security instrumeai:ae��f(c)agrees that Lsnder and any other :-���:�:�- . _
<br /> Borrower ma�agree to e�dend,modffy,forbear or make any atxommodatlons with regard to the terms af thls Security � �:_;: � �
<br /> Instrumertt oTcDaa Note wtthout that Borrawer's conseM. �� � ���� � � ,
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<br /> 13.Loan Charges. If the loan secetred by this Security Instn�marrt is subsect to a law which sets maxlmum loan ;L,�. , ��__:.,___„
<br /> � charges,and that law Is flnally interpreted so that the Irnerest or otfier loan charges coilected or to be ca�ected in ;:;.,,:�,��.�.�_ ?��:
<br /> connectlon wiih the loan exceed the permitted limits,then:(a)any sach toan c�rge shall be reduced by 2'r��amount , 'i�,.. �;—
<br /> .:•�`c,F,,:!�p•-.:`�' �
<br /> , ncessary to reduce the chargs to 4he permitted lim�;and(b)any sums already collected ftom Borrawer u,zhiah �-�..±,w��,.` ��.N�_:��
<br /> execeecfed permitted Ilmits wDl be refunded to Borrower.Lender may choose to make thls r�`car.d by reducing tha `:.•...,qV��,:;,t�._„r,;, .���,_
<br /> princtpal owed under the Note or by making a direct payment to Bonower.ff a refunrl redac�principal,the reducti�ac� ,,._�,;,•��:r .�^ �-,,
<br /> w i l l b e tr e a t e d a s a p a�t i a l p r e p a y ment wfthout an y pre p a y merR char ge under 3ha IVote. �,, `�i-��
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<br /> : 14.Hottces. Arry na9:�to Bonower provlded for in this Securriy Instrurr��rT sha11 be gtven by delivertng tt or by ,�{s,� ;.�:�-�
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<br /> m a 0 i n g i t b y fl r s t d a s s r r,��u c il e s s a p p l i c a b l e l aw re qu ires u se o f a n o t h e r m e t P a r.�1.Th e n o i l c e s h a l l b e d i r e c t e d t o t h e ��
<br /> Property Address or any o°"�er address Borrower designates by nci3ce to Len der.M no t tc e t o L e n d e r s h�l l b e i v e n �
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<br /> by flrst class ma(1 to Lende�s address stated herein or any other address Lender destgnates by notice to Borrower.Any - �� �
<br /> � notice ptovided for(n this Security Instrumerrt shall be deemed t�have been gNan to Borrawer or Lender when ghren .. r� �,�,,�,,,�:: .
<br /> as rovided tn thls araa��';�.h. � � • �� -
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<br /> 1b.Govemiag Lew;�vorability. This Security Instrument shall be govemed by fed�r�J!�w ar��i?:�w ot the � ' y�" t- _:.
<br /> � jurlsdtctlon In which the Property is located.In the event that any proviston or dause of th��rcurity 9��.rumeat or the �'i;'�;,•�; �, ":•.,.�,,;,;: _
<br /> :.,�,�ti Note conflicts with appllcab�e Iaw,such conflict shall not aifect other provistons of this Se�urr�yty Insirumer�t or the Note : � • ��,:�'.,:� .
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