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201308870 to Borrower shall no be construed as a prohibition on the charging of such fee, Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges. and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and(b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may' choose to make this refund by reducing the principal owed under the Debt Instrument or by making a direc payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Debt Instrument). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 14. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The Borrower's notice address shall be the Property Address unless Borrower has designated a substitute notice address b notice to Lender. Borrower shall promptly notify Lender of Borrower's change of notice address. If Londer specifies a procedure for reporting Borrower's change of notice address, then Borrower shall only report a change of notice address through that specified procedure. There may be only one designated notice address for Borrower under this Security Instrument at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice incuonccboo with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law,the Applicable Law requirement will satisfy the corresponding requirement under this Securi lv Instrument. 15' Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and, to the extent not preempted by federal law. the law or the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject to an requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or clause of this Security Instrument or the Debt Instrument conflicts with Applicable Law. such conflict shall not affect other provisions of this Security Instrument or the Debt Instrument nbich can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice ver u and the word "may" sole discretion without any obligation to take any action. 16' Borrower's Copy. Borrower shall be given one copy of this Security Instrument. 17. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section, Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited W' those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement,the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior Borrower Initials ©2013 ouarmenomm (page v*'/3 pagcs/ NE ClosedEnd Junior lien Security Instrument(12/23/2010) UC#402v'ih4j'^456