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01/31/2001 13:02 HOMEOWNERS LOAN 4 14024619553 20010154. NO. 205 P012 13. Loan Charges. If the loan secured by this Security Instrument 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 tie amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower whiclil exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal awed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender_ Any notice to Lender shall be given by first class mail to Lender's address stated herein or any other address Lender designates t y notice to Borrower- Any notice provided for in this Security instrument shall be deemed to have been given to Borrower) or Lender when given as provided in this paragraph. 1 15. Governing Law; Severability. This Security Instrument shall be governed �y federal law and the law of the jurisdiction in which the property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Secuurity Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable_ 1G. Borrower's Copy. Borrower shall be given one conformed copy of the Note an of this Security Instrument. 17. Mransfer of the Property or a Beneficial interest in Borrower. if all or any pi I ut of the property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option, require immediate pa�ment iva full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. If lender exercises this option, Lender shall give Borrower notice of acceleration_ Mine notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or dernand on Borrower. 18. Borrower's night to Reinstate. If Borrower meets certain conditions, Borrower, shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier of:1(a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the property pursuant to �ny power of sale contained in this Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and Rlie Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all bxpmses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lender's rig fts its the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully ef£ectiv as if no acceleration had occurred_ However, this right to reinstate shall not apply in the case of acceleration under paragraph 17. 19. Sale of Note; Change of Loan Servicer. The Note or a partial interest in tl�e Note (together with this Security Instrument) may be sold one or more times without prior notice to Borrower. A sale inay result in a change in the entity (known as the "Loan Servicer) that collects monthly payments due under the Note and this Security Instrument_ There also may be one or more changes of the Loan Servicer unrelated to a sale of the Note. If th re is a change of the Loan Servicer, Borrower will be given written notice of the change in accordance with paragraph 14 move and applicable law. The notice will state the name and address of the new Loan Servicer and the address to which payments should be irrade_ The notice will also contain any other information required by applicable law. 20. Hazardous Substances. Borrower shall not cause or permit the presence, use; disposal, storage, or release of any Hazardous Substances on or in the Property. Borrower shall not do, not allow any* else to do, anything affecting the Property that is in violation of any Environmental Law. The preceding two sentences sh01 not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are genera�ly recognized to be appropriate to normal residential uses and to maintenance of the Property. NEDRA&U, ftee F—ikr Fannie,Mae/Freddie Mae UNWORN 1MYTRUMBNr Fr0umis Page 5 of 7 Initials: