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<br /> condemnation car other taking; of any part of the Property. or for conveyance in lieu of co.:r emnation, are hereby assigned and
<br /> shall be paid tc, Lender.
<br /> In the event of a total taking of the PropC1111. the proceeds shall be applied to the sums secured by this Security
<br /> instrument, vritcther or not then due, vigil any en.cess paid to Bc)rower. In the event of a partial taking of the Property in
<br /> which the fair market value of the PralVAY immediately before the taking is equal to or greatcw than the amount of the sums
<br /> this S°curity Instrument immediately before the taking, unless Borrower and Lender otherwise agree in writing,
<br /> secured sums by s,ec this S cu this Security Instrument shall be reduced by the amount of the proceeds multiplied by the ;ollowing
<br /> the
<br /> fraction: (a) the total arnount of the Burns secured immediately before the taking, divided by (b) the fair market va' a of the
<br /> Property immediately before the taking. Any balance shall be paid to Borrower. In the event of a partial tak., g of the
<br /> Property in which the fair market value of t're Property immediately before the taking is less than the amount of the sums
<br /> secured immediately before the taking;, unless Borrower and Lender otherwise agree in writing or unless applicable law
<br /> otherwise provides, the proceeds shall be applied to the sums secured by this Seculity Instrument whether or no, the sum'. are
<br /> then due.
<br /> If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make
<br /> an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is. given,
<br /> Lender is authorized to collect and apply tfte proceeds, at its option, either to restoration or repair of the Pa•aperty or to the
<br /> sums secured by this Sec:ttrity Irstrument, whether or not then due.
<br /> Unless Lender ;end L~,)rrr:wer otherwise agree in writing, any apltlicatior, of proceeds to principal s}aalT not extend or
<br /> postpone the due date of the i•.onthly payments referred to in paragraphs i and 2 or change the amount of such payments.
<br /> 11. Borrower Not Rzleastd; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br /> modification of amorii-,°ation of the sums secured by this Security Instrument granted by Lender to arty successor in interest
<br /> of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender
<br /> shall not be required to commen•,e proceedings against any successor in interest or refuse to extend time for payment or
<br /> otherwise modify amortization of the sums secured by this Security instrument by reason of any demand made by the original
<br /> Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall riot be u
<br /> waiver of or preclude the exercise of any right or remedy.
<br /> 12. Successors and Assigns 13wind; ,joint and Several Liability; Co-signers. The covenants and agrecmenfs of this
<br /> Security fnstrurnent shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of
<br /> paragraph 17. Borrower's covenants and agreements shall be joint and several Any Borrower who co-signs this Security
<br /> Instrument but does not cxccu.t. the Note: (a) is co-signing" this Security instrument only to mortgage, grant and convey that
<br /> 'Borrower's interest in the Property under the tcrlms of this Security lnstrmmcnt; (b) is not personally obligated to pay the sums
<br /> secured by this Security Instrur,tcnt: and (c) agrees that Lender and any other Borrower may agree to extend, modify, foroear
<br /> or snake any accommodations with regard to the tennis of this Security Instrument or ihe. Note without that Borrower's
<br /> . COI1SCrtI.
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<br /> 13. Loan Charges. If the loan secured by this Security lnstrinnent is selliect to a law which sets numxim,mt oar
<br /> charges, and thnt la i is finally interpreted so that the interest or other loan charges collected or to he collected in connection
<br /> with the loan exceed the permitted limits. then: (a1 any such loan charge shall be reduced by the amount necessary to reduce
<br /> the charge to the permitted limit; and (h) any sums already collected from Borrower which e:cceeded permitted limits will hr
<br /> refunded to Borrower. Lender may choose to make this refund by reducing the principal rowed under the Nutt or by making; a
<br /> t direct payment to Borrower. If a rcfund reduces principal, the reduction will be treated as a partial prepayment without any
<br /> ' prepayrncnt charge under the Note.
<br /> 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by
<br /> mailing it by firtit class nail unless applicable law requires use of another rnethoo. The notice shall be directed to the Property
<br /> ' Address or :env other address Borrower designates by notice to Lender. Any notice to Lender shall be given by fir,,r class
<br /> mail to Lender's :address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for
<br /> in this. Security instrument shall he deentccu to have been given to Borrower or Lender when given as provided in this
<br /> paragraph.
<br /> 15, Governing; Law; SeveraWity. This Security fns.Uumcnt OwIl !v governed by Cede d I:1w acrd the law of the
<br /> jurisdiction in which the Property is located. In the cvent that any provision or clause of this ity rm,strur.lenl or the Note
<br /> conflicts with ❑ppiicahlc law, such conflict shall not MTccl other provisions of this Security Ivstruinent or the Note which c;nm
<br /> be given effect without time conflicting, provision. To this end the provisions of this Security instrument and the Note are
<br /> declared to be severable,
<br /> 16. Borrower's Copy, Borrower shall be given one conformed copy of the Note anti of this S r,'urity Instrument.
<br /> 17. Transfer of the Property or a beneficial interest in Borrower, if all or any part of the 1' ol. rty or any interest in
<br /> it is sold or transferred (or if. a beneficial interest in Borrower is sold or transferred aril Bon-owcr is not a natural person)
<br /> without Ltender's prior written consent, Leader nay, at it:; option, require immediate payment in full of all stmts, secured by
<br /> tills Security Instrument. However, this option shall not he exercised by Lender if exercise is prohibited by federal law as of
<br /> the date of this Security Instrument.
<br /> If Lender exercises this option. Lender shall give Borrower notice of acceleration. The notice shall provide it period ot-
<br /> not less than 30 days from the date the notice is delivered or mailed within which Borrower must pity till sums secured by this
<br /> Security Instrunl°nt. If Bort•owcr fails to pay these sums prior to the expiration of this perirtcl, Lender may invoke any
<br /> remcclies permitted by this Security Instrument without further notice or demand on Borrower.
<br /> 18. Borrower's Right to Reinstate. If Borrower nlcets certain conditions, Borrower shall have fhe right to have
<br /> enforcement of this Security insuzament discontinued at any time prior to the earlier of: (a) 5 clays for such other period as
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<br /> Singic family - Fannie Mae]Freddie Mac UNIFORM INSTRUMENT Uniform Cmcnnntx 9/90 flai,p (Oft) pact-0
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