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<br /> - • � � .` �� condemnation or other taking of any part af the Property.or far cunvey�snce in lieu of condelSinat�on,�����and - �" , .
<br />.-_ , _ ., shallbe paid to Lender. --- -�T., _ .
<br /> In the event of a total taking uf the Property. the proceeds tihall be applied to the sum.c secured by this Securiry „ �< <��,T
<br /> , �4 •-:_;,.-� Insttumen�whether or nat then due,with any excess paid to Borrower. !n the event of a partial taking of the Property in • -
<br /> � ` . , which tise fair rttatket value of the Property immediately before the takin�i,eyual to or Lreater than the amount of the swns - -
<br />- .- .- �ecur�d by[hi,Security tn�vwnent immediateiy before the taking.unless Borrower and Lendev othcrwise sgree in writing, =--=--- --
<br /> , • - the wms secured by this Security Instrument shaU be reduced by the amount of ihe proceeds multiplied by the following � �. ` � y::.
<br /> � fraetion: (a)the total amount of the sums secured immediately before the taking.divided by(b}the fair market value of the ��`� ` . •
<br /> , ;.: .s: Property immediately before the talcing. Any balance shall be paid to Borrower. In the event of a partial talcing of the _• _ ..�`� ,. � _
<br /> � . � .. Pr�operty in which the fair market value of the Property immediatefy before the taking is less than the amount of the sums •
<br /> secuted immediately before the taking,unless Bortower and Lender otherwise agnee in writing or unlcss applicable law . '
<br /> ' ` ' � othenvise provides.the proceeds shatt be applied to the sums secuied by tius Security Imtrument whether or not the sums are • .
<br /> : .. � ' � thendae. � .� "`
<br /> " �: !f the Property is abandoned by Botrower,or if,after notice by L.ender to Borrower that the condemnor offers to matce ."� �"
<br />-f. . � :__;
<br />- . , - an awazd or seule a claim for damages.Barrower fails to respond to i.ender within 30 days after the date the notice is given. -' •�
<br /> - <� � � Lender is authorized w co(tect sutd apply the proceeds,at its opqon,either to restorauon or repair of the Property or to the .. ,, •�;� � '`'��''"�-
<br /> • . sums secumd by this Security Insuument,whether or not then due. . `
<br /> ; , Unlesc Lender and Borrower othenvise agree in wriang,any applicadon of proreeds to principal sha11 not extend or �r =;
<br /> - - postpone the due date af the monthly payments referred to in paragraphs 1 and 2 or change ttte amount of such paymenu. '';,�:-
<br />- . ' 11. Borrower Not Released; Forbearauce By Leader Not a Waiver. Extension of the time for payment or ` `'"-••�_-_-
<br /> � . modificarion of amortiration of the sams secured by this Security Insuument granted by Lender to any successor in interes! ` - f-• s ,�_-
<br /> . �_ of Borrower shail not operate to ielease the liability of the ariginal Borrower or Barrower:s successo�in interest l.ender " �� ���i-��
<br /> ' shall rtot be required to commence proceedings against any successor in interest or mfuse to extend time for payment ar :='L- ..; ��`=-�
<br /> . � _"•;: otherwise modify amortization af the sums secured by this Security In.strument by reason of any demand made by tfie original � � ,�:>n';°:
<br /> � " Borrower or Borrower's successors in interest. Any forbearance by Lertder in exercising any right or remedy shatl not be a . r{ ��
<br />" � . -s� waiYer of or preclude the exercise of any right or temedy. � � �'`!''�'"
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<br /> _ „ ,,e-.. 12. Su�ors and Assigns Bound;Joint and Several Liabllity:Co-signers. The covenants and agreements of this �` r� :•,;�',;
<br /> Security Inshument shail bind arsd benefit thc successors and assigns of Lender and Borrower,subject to the provisions of ... �_�_.
<br /> �'',• . - paragraph 17. Borrower's• covenants and agmxments shall be joint and several. Any Barrc►wer who co-signs this Security .,:�,i°`y�
<br /> . . ' Insmiment but daes not execute the Note: (a)is co-signing this Security Instrument only to mongage,grant and convey that • ��;^��.
<br /> , �'�'.:
<br /> . . � •� Barrower's interest in the Property undet the terms af this Security Instrumem; (b)is not personally obligated to pay the sums 1:�sa•
<br />• • ;�.� secwed by this Security Instrument:and(c)agrees that l.ender and any uther Borrower may agree to extend madify,forbear r' _;—�
<br /> �•�` os make any accommodations �vith regard to the terms of this Security Instrument or the Note withaut that Boriower's ' '% ' '
<br /> � . � consent_ •� . :;���-�_
<br /> ' � 13. Loan Charges. If the toan secured by this Security Ins[runent is subject to a law which sets maximum loan .'`���`�� �
<br /> ' • charges,and that law is finally in:erpreted so that the interest or other loan charges collected or to be collected in con.^�:.caon '� � '��
<br /> ��; • .. •--_.
<br /> wiih the loan exceed the pem►itted limits,then: (a)any such toan charge shall be reduced by the amount necessary to reduce �,;. ,, !''�=.:
<br /> „ - � . the charge to the permitted limi�and(b)any sums already collected from Borrower which exceeded permiued limits wiU be � ' '� � =�-"-"=
<br /> ' . refunded w Boaower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a , •, , *���
<br /> • . direct payment to Borrower. tf a refund neduces principal,the rcductian will 6e treated as u partial prepayment without any � --�-
<br /> .� • � prepayment charge under the Notc. . � � �.�,�_`_
<br /> � 14. Notiee.v. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it ar by • �
<br /> ` ' mailin�it by fint class mail unless applicable la+v reyuires use of anather method.'It�e notice sha11 be directed to the Pcoperty ' ___
<br /> � , � Addre�.ti or any other addn;ss Borrower designates by notice to Leader. Any notice to L.ender shall be given by first class . � __-_
<br /> . mail tv L.ender's address stated herein ar any other address Lender de1ignates by notice to Borrower. Any notic�provided for •. `wF��
<br /> . � , .. in this Security Instrument shall be deemed to have been r,,i"ven to Borrower or Lender when given as provided in this �
<br /> • ' P�aPh• • �, � -
<br /> � 15. Governing Law: Severabllity. This Security Instrumem shall be gavemed is}� federal law and the law of the � . _ � ' -
<br />_ . jurisdiction io which the Property iy located. In the event that any provitiion or clause of this Security bstrument or the Note .
<br /> � conilicts with applicable law,such canflict shali not affect other provitiiom af this Security Instrument or the Note which can . ,: •
<br /> ' � � be given effect withaut the conflicting provision. To ihis end the provitiions of this Security Instrument:uid the Note ure • ;
<br /> . • declued ro be severable. . ' .
<br /> � . 16. Borrower's Copy. Borrower shall be given one canfortned copy of the Note and af'this Security Instrument. . • ���"`• '
<br /> . � 17. Transfer of the Property or�Beneiicial Interest in Borrower. If�11 ar any part of thc Pruperty or any interesl in ' . •.
<br /> � • � ' it is sold or transferre.�l(or if a beneficia! interest in Borrowcr is�old or tcansferred and Born�wer i�not a natural percun) � ..
<br /> . without Lenders priar written consent.Lendcr may,at its option,requirc imrncdi�te payment in full of all sums secured by . . . _. �
<br /> � �� this S¢curity Insm:rnem. However,this option shall nat be exerci+ed by Lender if exercise ix prohibited by federal law as of .� .
<br /> � the date of this Security Insirument. . .
<br /> • , • !f Lender exerci�es this option.Lender tihal)give Bo�row er notice of acceleration 'Phe notice shall provide a per.od of , ,�.;; . .
<br /> , not less than 30 days from the date the notice is delivered or mailed within which Borrouer musl pay all sums secured by ihis .. • �
<br /> Security Instrument. If Horrower fails to pay thcsc tiums prior to thc expiratian of this period. Lcnder may invoke any • �..
<br /> remedics petmitted by this 5ecuriry Instrument without furlher notice or demand on Borrowe*.
<br /> , 1$. Borrower's Ri�ht to Reinstate. If Borrower mcets ccrtain conditions. Borrow.;r rhall h�vc thc right ro have
<br /> enforcement af Ihis Security Instrument discontinued a!any time prior to Ihe earlicr af: (a)5 days(or such oiher period as - .
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