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��14��5�� to reduce the charge to the �ermitt�d limi#; and ��} any sums already co�[ected frorn 8�rrower which exceeded �ermit�ed fimits will be refunded �a Barrower. Lender may choose ta make �his r�fund by reducing �h� principal owed under �he Nate ar by making a direct payment to Barrower. If a refund reduces principa�, the reduction wil� be �reat�d as a partial prepayment withau� any prepaymen� charge �whe�her or not a prepayment charge �s provided for under �he Note}. E3orrower's accep�ance of any su�h refund made by direct payment fo Borrower wi�! constitute a wa�ver of any right of action Barrow�r might have aris�ng ou�of such ❑vercharge, 'i 5. Nc�ti��. AI! notices given by Barr�wer or Lender in connecti�n with �his Security I nstrument mus� be in w�iting. Any notice to Borrow�r in connec�ion with this Secu�-ity Instrument shall be deemed to have �e�n gi�en ta Borrower when mailed by first class mail or when actualfy de�iver�d to Borrower's nvtice add�ess if sent by ❑ther means, Notice to any one Borrower shalf �onstitu�e notice t� a!I Borrawers unless App�ica�le Law expressly r�quires othe�nrise. The n�ti�e address shalf be the Praper�y Address UIl��:55 Bor�ower has des�gnated a su�stitut� notice address �y notice to Lend�r. Borrow�r shall p�amptly notify Lender of 8vrrvwer'� chang� of address. If Lender specifies a proc�dure for reporting Borrower's change of address, th�n Borr�wer sha�� only re�art a change af address �hrough tha� spec�fied procedur�, There may �e only one designated notice address under this 5ecurity Insfrument at any on� time. Any natice to Lender shall be gi�en by delivering it or by mailing i� by firs� class mail to Lender's address stated herein unless L�nd�r has designated anvther address by notice ta Borrawer, Any notice in connection with �his S�curity lns�rument shal! no� be deemed to na�e been given to Lender� until ac�ually received by Lender. �f any nofice required by this Security �nstrument is akso required under App�icable Law, the Appficable Law requiremen� wili satisfy the corr�sp�nding requirement under�his Security Instrument. 16. �or►erning Law; Se�erabi�ity; Ru��s af Canstruction. This Security Instrument shall be governed by federal law and the law of #he jurisdic�ion in which �he Property is located. A�I rights and obligations contained in �his Sscurity ins�rument are subj�ct to any re�uirements and limitations of Applicabie Law. Appl�ca��e Law might explici��y or imp�icitly allaw the �ar�ies tfl agree �y �ontract or it migh� be silent, but such silence sha[� not be construed as a prahibition against agreem�nt �y contrac�. �n �he event that any prvvision or clause of this Securi�y Instrumen�or the No�e canf�icts with A�p�icab�e Law, such confli�t sha�l not affect other pr��isions of�his Security Inst�umen� vr�th� Note wh�ch can be gi�en eff��wi�hout the conf��ting �r��ision. As used in this Securi�y Ins�rument: �a} words af th� mascul�n� gender shall rnean and include carrespandir�g neut�r wards or words of the feminin� gender; �b} words in the singular shal� mean and include th� plural and vice versa; and �c} the word "may" gi�es svle discretion withau� any ❑bligation to �ake any�ct�on, 'I?'. Borrower's �opy. Barrower shal! b�given one copy�f the N�fe and of this Securi�y I ns#rument. '18. Transfer of the Property or a B�neficial Interest �n Borrower. As used irt this Section �8, "Interest in the Pr�p�rty" means any legal nr beneficiaf interest in the Proper�y, including, but nat limited �o, �hose bene�iGial interests transferred in a �ond for� deed, cantrac�for deed, instal�ment sales c�ntrac� or escrow agreem�nt, fhe inf�nt of which is the transfer of ��t[e by Borrawer at a future date fo a purchaser. lf al� vr any part af the Property or any Interest in the Praperty �s sald or�ransfierr�d �or if Barrower �s not a natural persan and a benef�cia� inter�st in Borrow�r is soid ar transferred} withou� Lender's prior written consent, L�nder may require imm�diate payment in fuil a� all sums secured by this �ecurity Instrument, How�v�r, this option shalf not be ex�r�ised by �.ender if such exercise is prohibited by Ap�licable Law, �f Lender exercises �his option, Lender shall gi�e Bflrrower no�ice of accelera�ian. The notice shail provide a period of no� less �han 3� days fr�m fhe date the n�tice is given in ac��rdance with Section �� wi�hin which Sorrow�r must pay all sums secured by this Security Ins�rumen�. If Borrower fails ta pay thes� sums pri�r t� th� �x�irati�n of �his p�riod, Lender may invoke any remedies �ermi��ed by this Securify lns�rumen�with�u�fur�her notice or demand �n B�rrower. 19. Borrower's Right ta Reinstate After Acce�eration. If Bvrrower mee�s certain conditions, Barrawer shall nave the righ� tn have enforcement c�f this Security Instrumen� discon�inued at any time prior to the earliest of; �a} five days before sale af the Pr��rty �ursuant t� any p�wer of sale contained in this Security Instrument; �b} such ather period as Applicable Law migh� sp�cify far the termination of Barrower's right �o reinstate; ar �c} entry �f a judgment enfarcing �nis Security Ins�rument. Thase conditions are �hat Borrower. ta} pays Lender all sums which then would be due under this S�curity �nstrument and the Nate as if no acceleration had occurred� �b} cures any defauit of any other cov�nan�s �r agreements; �c} �ays all expenses incurred in enforcing this Secur�ty Instrument, including, {page g af Iz)