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Home My WebLink About0944 • r ~ . an~~ condemnation or other tal?ing of any pan of the Property, or for conveyance in lieu of condemnation, are hereby assigne~ and shall be paid to Lrnder. In th~ e~•ent of a tota! tak~ng of the Property, the procerds shall be applicd to the sums securtd by this Sa:urity Instrument, w~hether or nnt th~n due, with any excess paid to Borrower. In the event of a partial taking of thr Property, unless Borrower and Lender otherwise agree in writ~ng, the sums securod by this Securiry Instrument shall be redeced by I the amount of thr proreeds multiplied by the fallowing fraction: (a) the tota) amount of the sums sctiured immediately ; before the taking, di~~ided by (b) the fair market value of the Property immediately before the taking. Any balance shail be paid to f3orrower. If the Property is abandoned by Borrower, or if, after notice by Lrnder to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower tails to rapond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the proceeds. at its option, either to ratoration or repair of the Property or to the sums secured by this Security instrument, whether or not then due. L'nless Lcnder and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. 10. Borrow~r tiot Released; Forbearanct By Lender Not a Wdrer. Extension of the time for payment or modification ot amortization of the sums secured by this Security lnstrument granted by Lendet to any successor in interest of Borrower shalt not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence procecdings against any succtssor in interest or refuse to extend timc for ' payment or otherw ise modify amortization of the sums secured by this Security Instrument by rrason of any demand madc ' by~ the original Borrow~er or Borrovver's successors in interat. Any forbearance by Lender in exercising any right or remedy shall not be a w~aiver of or preclude the ezercise of any right or remcdy. 1l. Successors and Assigns Bound; 3oint aod Serenl LLbillty; Co-signers. The covcnants and agrecments of I th~s Security {nstrument shal) bind and bentfit the successon and assigns of L.ender and Borrower, subject to the provisians of paragraph 17. B~rrower's covenants and agreemrnts shal) be joint and several. Any Borrower who co-signs this Security~ i Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and com~ey I that Borrow~er's interest in the Propcrty under the terms of this Srcurity Instrument; (b) is not personally obligated to pay I the sums secured by this Se~;urity Instrument; and (c) agrees that l.ender and any other Borrower may agree to eatend. modify, forbear or make any accommociations with regard to the terms of this Secunty [nstrument or the Note without that Borrower's consent. 12. I.oan Charges. If the loan securrd by this Security Instrument is subject to a law wh~ch xts maximum loan charges, and that !aw is finally interpreted so that the intertst or othcr loan charges collected or to be roll~cted in ' runnect~on with the loan exceed the permrtted limits, then: (a) a~y such loan charge shall be reduced by the amou~t necetisar~~ to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower a•hich exceeded permitted limits w•ill be refunded to Borrow•er. Lender may choose to make this refund by reducing the princ~pal owed under the Note or by making a direct pa}~ment to Borrower. If a refund reduces principal, thc reduction will be treated as a partial prepayment without any prepaymcnt charge under the Note. 13. LeRislation AfTecting Lender's Rights. If enactment or expiration of applicable laws has the effect of rendenng any pro~ ision of the Note or this Seeunty Instrument unenforecable accordir.g to its terms, Lender, at its aption. may~ reyuire immediate pay~ment in full of all sums stcured by this Security Instrument and may invoke any remedia Eferm~tted b} paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of paragraph 17. ~ 14. \otices. Any notice to Horrower provided for in this Secunty lnstrument shall be given by delivrring it or b~• mailing it b}~ first class mail unless applicablr law reqwra use of another method. The notice shall be directecl to the ! Yro~rt} Addresti or an} other address Borrawer des~gnatcs by nohce to [.e~der. Any notice ta Lender shall be given by~ fir~t rlast ma~l to Lender's addrr4s stated herein or any other address Lender daignates by notice to Borrow~er. Any not~ce ` pro~~ided for in this Serur~?}~ Instrument shall be decmed to ha~~e been given to Borrow~er or Lender when gi~en as pro~ided ~ in th~ti paragraph. 15. Governinq I.aw; Severability. Th~s Sctiunty lnstrument shall be governed by fcderal law~ and the law of the ~unufict~un in w~hich the Property is located. In thr e~ent that any provision or clause of this Secunty Instrument or the ; tiute conflicts w~th applicable law•, such conflict shaU not aftcct othet provisaons of this Secunty Instrument or the Note ~ w hich can be g~ven effect without the conflicung prov~s~on. To this end the provisions of this Secunty lr:strument and the ~ `~~te arc declared to be se~erable. ~ 16. Borro~rer's Copy. Rc~rrow~er shali be gi~~en one conformed copy of the Note and of th~s Secunty Instrument. r 17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any ~ intere~t ~n ~t ~ti uild nr tramferred (or if a beneficial ~nterest ~n Borrow~er is wld or transferrrd and &~rrower ~s not a natural F perum) w~thout Lender's prior written consent, Lender may, at its ~ption, require immrdiate payment in (ull of all sums ; ,ecured hy thi~ Serunty~ Instrument. How•ever, thiti option shall nor be exercised by I.ender ~f exerciu is prnhibiteci b}• frder~l law as of the date of this Secunt}~ Instrument. U Lcnder excsr~ses th~s ~pnon, Lender Shall g~ve Borroa•er notice of accelerat~on. The notice shail pr~~~ide a penc~ci ~~f ne~t Irti~ than 30 daps from thr date the not~ce is del~~~~red or mailed within which ~rrow~er mutit pay all sums secured b}~ thiti Secunt~ Inttrument. If F3orrower fa~ls to pay these sums ~rior to the expiration of thit penod, Len~er may imoke any i remed~c~ permuteci b}~ this Seeunty Instrument w~thout further notice or demand on E3orrower. 18. Rorro~rer's Right to Reinstate. lf Borrower mects certa~n conditions. Borrow~er shal) ha~e the right to ha~~e cnf«rremcnt ~~f this Secunty Intitrument discontinued at any ume prior to the earlier of: (a) 5 days (or ~uch othcr penod as ap~+l~rahle iavr ma}• specif~~ (or re~nstatement) brforc cak of the ProFxrty purzuant ro any~ pc~w~er of sale contained in this Sr~unt} lmtrument: ~~r (b) entr} c~f a ~udgment enforcing this Seturity Instrumtnt. Those conditians arc that fiorrow~er: (a1 pays Lender all sums whtich then would be due under th~s Security Instrument and the Note had no acceleration ~ cxcurred; (b) cur~~ an~• drfault of anti~ other eo~enants or aRreements; (r) pays a!I expemc~ incurred in enlorcing this ; Sezurtty Imtrument, includ~ng, but n~t hmited to, rea~nable attorneyi fees; and (d) takes wch action ati Lender may , reaumably reyu~rc tn atsure that the lien of this Serunty tnstrument, [xnder's rightti in the NraFxrty and Horrower's obhgatiun tcr pay ~he sumt recured by this Stturity Instrument tihail ecmtinue unchanged. LJpon rc~nstatement by fiorre~wer. ~hiti Security~ Inttrurtient and the ~hl~gaUons uxured hereby shall remain fully effective as if no accelerauon had ~?ccurred H~~wrver, thi~ nght to re~nctate shall not apply~ in the rase of acceleration under paragraphs 13 or 17. . . ~~A~ 596 a~~~ ~44 ' ~ J _ _ - - : k _ ~ - ~ ~ ~ ~ ~ ~ ~ ~