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<br />-�` ��, Y �; " conde�nnation or nther taking of any par!of the Property,or for coneeyance in lieu of condemnation,are hemby assigned and ,
<br /> - �� � � � • shali be paid to Lender. `
<br /> � in the event of a total taking of the Property.the proceedc shall be applied to the sumc �ecured by this Security •:�=s ,,. �
<br /> � �`� � `""`� Instrument,whether or nut then due,with any excess paid to Borrower. In the event of a p:srtiai takir►g of the Property �n . .
<br /> , -.�...�, �: '...,.
<br /> ` � - which the fair marlcet vatue of the Property immediately before the taking is equal to or greater than the amount of the sums ��
<br /> _' �� secured by this Security Instrument immediately before the taking.►m[ess Borrownr and Lender othcn�+ise al�ee in wTiUng. ,-�.== - -.- �--
<br /> .. ,
<br /> � the sams secured by this Security Instrument shall be reduced by the amount of the praceeds multiplied by the following . .,, _' _ ,
<br /> ' ' fiaction: (a)the total amount of the sums secured irrtm:.diately hefore the talcin€-divided by Ib)the fair o:arket value of the . .
<br /> �+ � . � : , . Propeny unmediately 6efore the taking. Any balance shaU be paid to Borrower. In the event of a parti a l t�cing of the . �ti�`, �
<br /> , � ` Property in which the fair market vatue of the Property immediately befor+e the taking is less than the amount of the sums
<br /> �"< '" ' secuied immediately befone the taking. unless Borrower and Lender othemise agree in writing or unless applicabie !aw
<br /> ': , . othemise provides,the praceeds shall be applied to the sums secured by this Securiry(nstrument whether or not the sums are . , ..�
<br /> then due. . � ��,
<br /> r�.. ; - If the Property is abandoned by Borrower,or if,after notice by Lender to Barrower thai the condemnor offers to make , �
<br /> � . .
<br /> �� ` an awatd or settle a claim for damages.Borcower fai�s to n�spond to Lender within 30 days after the date[he notice is given. _:
<br /> �� � Lender is autharized to collect and apply the pmceeds,at its opuon,either to restoration or reQair of the Property or to the ��� `__ _
<br /> - •'�: sums secured bythis Security Instnunen�whether or not then due. , _
<br /> Untess Lender and Borrower otherwise agree in writing,any application of praceeds to principal shall not extend or
<br /> . postpone the due date of the monthly Qayments referred to in paragiaphs 1 and 2 or change the amount of sucJi payments. _
<br /> ' • 11. Borrower Not Reteased; Forbearance By Lender Not a Waiver. Extea+ion of the time for payment or
<br /> _ ,,_ , modification of amortization of the sums secured by this Security Inst�ument granted by Lender to any saccessor in interest r> —__
<br /> _ ' �'�, of Borrower shall not operate to tetease the liability af the original Bortower or Borrower's successors in intemst.Lender ; ��
<br /> - � � shall not be requiied to commence proceedings against any successor in utterest or refuse to extend time for payment or �i�
<br /> _ " � ` ��� otherwise modify amortizarion of the sums secured by this Securiry Instrumenc by reason of any demand made by the original '.•� ��'_
<br /> - • � Bortower or Borrower's successors in interest. Any forbearance by i.ender in exercising any right ar remedy shalt not be a `�._-�-_
<br /> waiver of or preclude the exencise of any right or remedy. , � .= ,;
<br /> ` °' 12. 5uceessors and Asgigns Bound;doint and Se�eral Liability;Co-slgners. The covenants and agreements of this ,�., � .-r :
<br /> � � Security Instrument shall bind and benefit ihe successots and s►ssigns of Lendec and Borrower.subject to the provisions of .,t. f:�.
<br /> ;� . paragraph 17. Bomower�covenants and agKements shall be}oint and several. Any Bomower who co-signs this Security ;,.��,•
<br /> ° instrument but does not execute the Note: (a)is co-signing this Security Tnswment onfy to mongage.grant and convey that ��
<br />�::� • ' ,� . � Borrawer's interest in the Propecty under the terms of this Security[atitrument; (b)is not personally obligated to pay the sums .. , .
<br /> - secared by this Security Instrument:and(c)agrees that Lender and any ather Borrowec may agree to extend,modify,forbear , � , ;�;:
<br /> - . , or make any accommodations with regard to the tenns of this Security Instrument or the Note withaut that Borrower's , _
<br /> , consent. �� ;�-•
<br /> l3. Loan Charges. If the loan secured by this Security Instrument is subject to a law which seu maximum loan . , ,'_��,_.
<br /> � eharges.and that law is finally interpreted so that the interest or other loan cha�ges collected or to be collected in connectian .
<br /> ' with the toan exceed the permitted limits.then: (a)any such loan charge shall be reduced by the amount necessar}to reduce °•,�'. :•':�.
<br /> � �� � the charge to the permitted fimit;and(b)any sums almady collected from Borrower which exceeded pertnitted limiu will be
<br /> refunded to Borrower. Lender may choose ta make this refund by reducing the principal owed under the 1Vate oc by making a ' ���
<br /> �� .. dicect payment to Borrower. !f a refund reduces principal,the reduction will be treated as a partiat prepayment without any . ' � ,-����-•_
<br /> , prepayment charge under the Note. . � .-°,�':
<br /> 14. Not[ces. Any notice to Borrower provided for in this Security Instrument shall 6e given by delivering it or by �i
<br />- � � mailing it by first class mail untes.c applicable law reyuires use of another method.The notice shall be directed to the Propeny - . _
<br /> • - Addreu or any other address Barrower designates by notice to Lender. Any nouce to Lender shaU be given by first class i i�_
<br />- �- mail to Lender's address stated herein or any ather address Lender designates by noticc to Borrower. Any notice provided for . • :�F��
<br />;y:��� . : • in thic Security Inswment sh�ll 6e deemed to have been given to Boaower or Lender when given as pmvided in this '.: ��.:: _: _�_
<br /> , � � P�S�Ph•
<br /> • ' 15. Governing Law;Severability. 1'his Sccurity Instcument shall bc govemed by fedcral !aw and the taw of the ,
<br /> . .; , � � jurisdiction in which the f'roperty is lacated. in thc event Iliut any provision ar clatss.^.�....:s Secarity lnsuumen*�the Note .
<br /> � ' ' conflicxs with applicable law.such conflict shall not affect other provisions of this Security Inswment or the IVote which can � ':: . .. .
<br /> " . be given e(fect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are
<br /> � declared to be severable. , .� �
<br /> � � 16. Borro�rer's Copy. Borrower�hall be given one confonned copy of the Note and of this Security Instrument.
<br /> � � � 17. Transfer oP the Properiy ur a Benelicial Interest in Borrower. lf all or any part of ihe Property or an}• interest in .
<br /> - • it is sold or transferred(or if a beneficial interest in Borrower is sold or transfemd and Borrower is not a natural person)
<br /> .� ' � � without l.ender's prior written comenl.Lxncier may,at its aptiun,require immediate pnymem in full of all sums secured by . . ;
<br /> ihis Secudty Instrument. However,this option shafl nat be exercised by L.ender if exercitic is prohibited by fedcral law as of
<br /> � ' the date of this Secunty Intitrument.
<br /> ' If Lender exerciseti this option.Lender�hall give Borcower notice of accelerution. The notice shall pravide a periad of
<br /> ' • ' .. ` not less than 3t1 days from the date the nutice is delivered or mailed within which Horrower must pay all sums secured by this , _ , . :
<br /> _ � • Security Instvument. If Borrowcr fails to pay these sums prior to the expiration of this periad, Lender may invake any .
<br /> rcmedics permitted by ihi�Security ln�trument withaut furthcr nrnice ar demand on Burrowcr. ,
<br /> • 18. Borrowes's Right to Reinctate. lf Borrower meets ce�ain conditianc. Borrower shall havc the right to have ,
<br /> � � � enforcement of this Security Instrument discontinued at any time prior to the eadier of: (�)5 days(or such other period as
<br /> � : � Smgic F:miily--Fartnie HaelPreddie�inc UNIFOR611ti5TRU�tEAiT--Uniform Coven:m�c 9i90 Ipuge 4 r Jb pugesl
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