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_ . . , . . . , __`_.---- ` `` . � - ""��r
<br /> � . � . , T:=.:�.- �,-- . - -_
<br /> �/'��,V'Ri�ll�� LOAN nl�. 1 5 5 9 2 0 0 7 8 1 . . -
<br /> 10.Condemna4ton. The proceeds of any award or claim for damages,direct or consequential,in connectlon wfth . �_
<br /> any condemnatfon or other taking of any part of the Property,or for conveyance in lieu of condemnatlon,are hereby ' _
<br /> assigned and shall he pa(d to Lender. �
<br /> ln the event of a tota!taking of the Property,the proceeds shail be 3ppfied to the s�ms secur�d b}this Security
<br /> Instrument,whether or not then due,with any excess paid to Borrower.In the event of a part(al tak(ng of the Property in �
<br />_, whfch the fair market vaiue of the Property immediately before the taking is equal to or greater than the amount of the _ _
<br /> sums secured by thts Security Instrument immedlately before the taMng,unless Borrower arxi Lender otherwise agree in :
<br /> writing,the sums secured by this Security Instrument shall be recluced by the amount of the proceeds multiplied by the � :
<br /> follawing fracUon:(a)the total amount of the sums secured lmmediat�ty before the taking,divided by(b)the fair market ° . .
<br /> ' value of the PropeRy immediately before the taktng.Any batance shail be paid to Bom�ver.In the event of a partfal . � ,
<br /> taking of the Proparty in which the fair market val�e of t�e r^roperty immediately before the taking is less than the . � • --�
<br /> � amw�at of ttu3 sums sac.ured Immedlatety befors the tatdng,unless @orrower ant!Lender otherwise ag►ee in writing or , _ _ __. __ ____
<br /> .`, unless applicable law oiherwise provides,the proceeds shall be applied to the sums secureci by thfs Security . • ___
<br /> Instrument whaiher or not the sums are then due. , •� .��
<br /> If the Property(s abartdoned by Borrower,or if,after no�ce by Lender to Borrower that the condemnor oifers to � _ :'�� �� �
<br /> make an award or setile a daim for damages,Borrawer fails to respond to Lender within 30 days after th�date the � ' • , ,..'K�;�--,-
<br /> notice is given,Lender is authorized to cotlect and apply the proceeds,at its option,either to restoration or repair of the t . : �_,,;4,q.,�,.'�__
<br /> Property orto the sums secured by this Securfry Instrument,whether or noi then due. ` : .�. ,'._, . . :�
<br /> Unless Lsnder and Bonower oihennrise agree in writlng,any applic�tion of proceeds to princtpal shall not exiend or �.:_ e-
<br /> postpone the due date of the mortthly payments referred to in paragraphs 1 and 2 or cfiange the amouni of such ` : • � ` �' �-�—
<br /> paymeMs. - "�
<br /> 1 t.Borrower Not Reteased;Forbearertce By Lender Not a Waiver. E�aenslon of the ttme for p��ment or 1 , ;,�::�
<br /> mod'rfication of amortization of the sums secured by this Securfry Instrumertt granted by Lender to any successor in '������•
<br /> i�erest of Borrower shali not operate to release the liability of the originat Bo�rower or�orrower's successoTS in . ' ---
<br /> ���• interest.Lender shall not be required to commence proceedings against any successor in interest or refuse to extend
<br /> Ume for payment or otherwise modify amortization ot the sums secured by this Security Instrument by reason of any _
<br /> � de�nand made by the ortg(naf Borrower or BoROwer's successors fn interest My forbearance by Lender in exercising ' ' ;, - ��
<br /> any�fght or remedy shall not be a waiver of or preclude the exercise of any�igM or remedy. � � � � : , �"' "
<br /> 92.&uccessors and Asstgns Bound;Jotrrt and Several UabUity;Co-signers. The covenants and agreements of � ; TT�.�
<br /> this Security InstrumeM shall bind and beneflt the successors and assigns of Lender and Bonower,subject to the + �►�.� :�;•
<br /> provisions of paragraph 17.BarrowePs covenartis and agreemenis shall be joirrt and several.Any Borrower who i , .
<br /> co-signs this Security Instrument but does not execute the Note: (a)is co-slgning this Security Instrument only to � .: : ;'� ",
<br /> mortgage,grani and convey that 8orrowar's interest in the Property under the terms of this Security Instrument;(b)is . : t�' '•
<br /> not persanally obligated to pay the sums secureai by this Security Instrumen�and(c)agrees that Lender and any other f ' t� ;'� _
<br /> Borrower may agree to extend,modiiy,forbear or make any accommodaUons with regard to the terms of this Security f '� '�`!; �
<br /> InstNmeM or the Note without that Borrower's consen� � _ �� ' —
<br /> 13.Loan Charges. If the loan secured by this Securfty Instrument ts subject to a law which sets maxfmum loan � �
<br /> th I w is flnall irne reted so that the inierest or oiher toan char es co�lected or to be collected in . ,. , �`''.'�`
<br /> charges,and at a y rp S
<br /> connectton wfth the loan exceed the permitted Iimits,then:(aj any such loan charge shall be reduced by the amount ��
<br /> necessary ta reduce the charge to the permitted limit;and(b)any sums already collected from Benowet which ..��'�, • ; ���=: ` .
<br /> exceeded permitted limits will be refunded to Borrower.Lender may choose to make this refund by reduc�ng the ' �``
<br /> ����'�''.`+�`,'�► :
<br /> pdnc l p a!ow e d un der t he No t e or b y m a k i n g a d i r e c t p a y m e n t t o B o r r o w e r.I f a r e f u n d r e d u c e s p r i n c i p a l,t h e r e d u c t l o n � •-�.�._,_
<br /> wlll be treated as a partial prepaymerrt wfthout any prepayment charge under the Note. � - -=°E
<br /> o. .. ..-.
<br /> 14.Notices. Any notice to BoROwer provided for in this Security Instrument shall be given by delivedng it or by � ��' =-_
<br /> mailing it by flrst class ma(I unless applicable law requires use of another method.The notice shali be directed to the . ,,. �,. i--
<br /> Property Address or any other address Borrov�er designates by notice to Lender.Any notice to Lender shall be given
<br /> by flrst ctass maU to Lender's address stated herein or any other address Lender desigrrates by notice to Borrower.Any �. �.;_;��_
<br /> notice provlded tor in this Security Instrumerrt shall be deemed to have been given to Borrowar or Lender when given • j'
<br /> as pravided in this paragraph. . .,�
<br /> 15.Governing Law;Severability. This Security Instrument shall be govemed by 4ederat law and the law of the '' ��.
<br /> I jurisdiction in which the Property is located.U the everrt that any provision or ctause of this SecuHty Instrument or the t : •� : '� --
<br /> � Note conflicts with applicable law,such conflict shall not affect oiher provtsions of this Security Instrument or the Note �. • • ;'" �' '
<br /> whlch can be given effect wtthout the confllcting provtslon.To this end the provisions mf this Security Instrument and tha �.
<br /> Note are declared to be severahfe. � � ' � �
<br /> 18. BortowePs Copy. BoROwer shail be given one coMormed copy of the Note and of thts Security Instrument 4 • � �-
<br /> 17. Transter o!the Property or a 8eneftc9al In4ereat(n Borro�rer. If al1 or any part of the Property or any i• � ;•�
<br /> � interest in it is sold or t►ansterred(or if a beneflcial interest in Bonawer is sold or transterred and Borr�ower is not a . � ___
<br /> natural person)without Lender's prlor written consent,Lender may,at its option,require immediate payment in fuil of all L�`=
<br /> � sums secured by this Security Instrument However,this optlon shall not be exercised by Lender if exercise is � .�
<br /> prohlbited by fedaral la�v as o}the date of this Security Instrument. �
<br /> . NHBRASIWrSINGLE FAMILY-FNMA/FMLMC UNiFOAM INSTRURl�NT FOA�A 3020 9/90
<br /> _ � ' • ISC/CMOTNE//0792/3U28i4�)-L PAGE4�F6 q � _
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