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<br /> of the Properiy im�ediately before tde takiag is equal to ur greater than the amou.:t of the �ums secured by ch�s SO�'[nsavment � . - . �;-
<br /> immediately before the taking,unle�s Borrower xnd Lender othetwise agtc�in writin�.the sums secured by this Securiry Instcument shall E • `~
<br /> �
<br /> be reduced by the amount of the proceed� multipGed by tha fulluwing fncrioa: (a) the tutxl amuuot uf�he sums szcuted imtnediately �
<br /> � before the taki anv,divided by(b) tha fair market value of the Property immediately hefon thz ►:iking. Any balxnce shall be paid to � ,
<br /> .. � Borrower. In the event of a panial taking of the Propetty in wluch thr I'air market value of the P[operty immr.diatelJ betuTe the taking � ,
<br /> i�less ihan the amuunt of the sums secur�d�mediately hefore the taking,unless Borrower and Ltnder othemise agre�in writing ur unless ` "�_
<br /> .: � _ - �
<br /> � applicable faw otlterwise provides,the proceeds shall be applied to the sums scxured by this Security Instrument wheiher ur not the sums r
<br /> are then dtie. E.. .� � • : -
<br /> ' If the Property is abandoned by Borrowet.or if.after notice by L.ender to Borrower that We cond;.muor offers to make an award
<br /> or settle a claim for damages.Borrower fails to respond to Lender within 30 days after the date the notice is given.Lender is authorized , • • -
<br /> ' to collect and apply the proceeds,at its option,either�o restorauon or repair of the Property or to the sums secumd by this Security ,
<br /> Inscrument. wheaher or not then due. � �; �`
<br /> Unless L.ender and Borrower otherwise agree in writing,any application of proceeds to principal shall uot extend or postpone ,' � ; ��
<br /> , the due 3a[e of the mantlily payments refetred to in paragiaphs 1 and 2 or change the amount of such payments. � � • ' '
<br /> , 11. BorrowerNot Released;Furbearance Sy I.eader Not a Wah+er. Extension of the t'vne tor payment or moditication of '. . � ��_
<br /> amon'uation of the sums secuned by this Security Itsstrumem gramed by L.ender to any successor ia interest of Borrower shall not operate • • - - -- ` _.
<br /> to telease the liability of the original Borrower or Borrower's successors ia intesest.Lender shall not be tequired to commence proceed'mgs '` . •�'•
<br /> , against any successor in intenst or:efuse to extend time for paymeni or otheiwise modify amortization of the sums securecl by this S�curity ' _ , .. .
<br /> In.ctrument by reason of any demand made by the original Borrower or Borrower's successots in interest.Any forbearance by Leader in ,r .h: : • _
<br /> exercising any right or iemedy shall not be a waiver of or preclude the exercise of any right or remedy. � " '`M�
<br /> . 12.Saccesso�s and AssIgns Bound:Joint and Several Liability;Co-signers. Thc covenants and ag:eF.-mems of this Suvrity ' �.� _
<br /> � Itutntment shall bind aad benefu the successors and assignc of Lender and Borrower,subject to the provisio�of paiagraph 17.Borrower's , .__ .��`y
<br /> �� covenants and agreements shall be joitu and severdl.Any Borrower who co-signs this Security Instnunent but dces not execute the Note: '
<br /> (a)is co-signing this 5ecutity lastivment only to mortgage,grant and convey that Borrower's interest ia the Property under the terms of . � �"_"'
<br /> '. this 5ecurity Instrument: (b)is not personally obligated to pay the sums secured by this Security Instrument: and(c)agrees that Lender . '��•• ..'�
<br /> and any other Borrower may agree to extend,modify,forbear or make any accommodaaons with negard to[he terms of thi4 Secu�ity _.:.;�'?
<br /> � Iastrumenc or the Note without that Borrower's consent. � -
<br /> - 13. Loan Cherges. If the loan secured by this Security Iastrument iv subject to a law which seu maximum loan charges.and ' � p •
<br /> tLat law is finally interpreted so that the interest or other toan charges collected or to be collected in connection with the loan exceed the . . •
<br /> permitted limits.then:(a)any such Ioan chargc shall be reduced by the amount necessary to reduce the charge to the permitted limi�aad •'• J. .
<br /> (b)any sums already collected from Borrower which exceeded permitted limits willbe refunded to Borrower.Lender may choose to make ���`� � ' —
<br /> ' tLis refund by nducing the principal owed under the Note or by making a direct payment to Borrower.If a nfund reduces priacipal,the ��{��� � ;.
<br /> teduciiva willbe treated as a partial prepayment without any prepayment charge under the Note. T � -�. -
<br /> 14. Notices. Any notice to Boaower provided for in this Security Instrument shall be given by delivering it or by mailing it by � � .�.� • _
<br /> firsc class mail unless applicabla law requires use of anather method. The notice shall be directed tu the Property Address or any other , . �� `7i
<br /> � address Borrowet desigmtes by notice to Lender.Any noUce to Lender shall be given by first class mail to Lender's address stated fieiein . ;,� � [.
<br /> or any olLer addresa Lender designates by notice to Borrower.Any nodce provided for in this Secutiry Instnunent shaU be deemed to have 'E;'
<br /> , �• • - - - '�
<br /> � been givea to Borrower or Lender when given as provided in this paragraph. , � .
<br /> .� 1S. GOVerRing I.aw;Severeb�fty. This Secwiry lnsuvmenc sball be governed by feder3l law and the law of the jurisdiction �°
<br /> � in which the Property is located.In the event tbat any provision or clause of this Securiry Instnmrent or the Note conflicts with applicable r� —
<br /> � �.�,.-:�----.,__
<br /> . � Iaw,such conAia shall not afPea other provisions of this Securiry Instrumen[ or the Note which can be given etfect without ffie conilicting `_:,�,r��._
<br /> provision.To this end the provisions of this Secwity Instnttnent and the Note ase declared to be severable. ���r--+x
<br /> ' 16. Borrower'SCOpy. Boaower shall be given one conformed copy oP the Note and of Ihis Secutity Instnmment. �II.�•;;,:._'�i�.:=
<br /> � 17. 7�anster otthe Property os a Bene�icial lnierest In Borrower. If all or any pan of�he Propercy or any ituerest in it . ' - - �� _
<br /> is sold or tcansferred (or if a beneficial interest in Boaower is sold or ctansferred and Borrower is not a nazural person)withont Lender's
<br /> �� prior wriaen consent. Lender may.at its option, require immediate payment in full of a1t s�s secuted by this Security Instrument. , �:"."��_ ��`'
<br /> � However.this option sLall not be exeraised by L.ender if exerclse is prohibited by federal law as of the date of this Secwity Instrument. . : ' `"��'�-��
<br /> If Leader exercises this option.Lender shaU give Boaower nodce of acceleradon.The aotice shall provide a period nY not less � '' m � `
<br /> . � th�w 30 days from the date the notice is delivered or mailed within wtuch Bonower must pay all surns secumd by this Security Instmment. � '
<br /> If Boaower fails[o pay these sums prior to the expitauon of�is period.Lender may invoke any remedies pertnitted by this Security .���
<br /> Instrument without futther notice or demand on Bonower. � - '`"
<br /> � 18. Borrower'sRight to ReiaState. If Borrower meets certain condiaoas.Borrower shall have the right to dave enforcement � ��
<br /> of thia Secwity Instrument 3iscontinued at any time prior to the earlier of:(a)5 days(or such other period as appliqble law may specify • . �
<br /> for reinstatement) bePore sale of the Propeny pursuant to any power of sale contained in thi4 Securiry lnstnunetn: or(b) entry of a .' , !�
<br /> judgment enforcing this Security Inst�vment. Those conditions are that Borrower:(a)pays Lender all sums wluchthen would 6e due under �,�.
<br /> ilus Securiry iagtncment and the Note as it no acceleradon had occurred:(b)cures any defaut[ of any other caven$nts or agreements: (c) � '
<br /> . pays all e�cpenses incurred in enforcing this Security Instrument, including,but not limited tu,reasonable attorneys'fees;and(d)takes such . . ---
<br />� action as Lender may reasomably require to assure that the lien of this Securiry Instrument. Lender's rights in the Property and Borrower's .
<br /> obligadon to pay the sums secured by this Security Instnunent shall continue unchanged. Upon reinstatement by Borrower,t6is Security �
<br /> II�arm 3028 9/90 , . l`--'
<br /> (page 4 of 6) � � � ..-.
<br /> IDS.Inc. Bomowa's Initials
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