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04-28 -2000 FNMA/FHLMC DEED OF TRUST 200003471
<br />Page 3 of 5
<br />Loan No 20154 : a (Continued)
<br />shall be payable, with interest, upon notice from Lender to Borrower requesting payment.
<br />8. Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument,
<br />Borrower shall pay the premiums required to maintain the mortgage insurance In effect. If, for any reason, the mortgage insurance coverage
<br />required by Lender lapses or ceases to be in effect, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the
<br />mortgage insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the mortgage Insurance previously In effect, from
<br />an alternate mortgage insurer approved by Lender. If substantially equivalent mortgage insurance coverage Is not available, Borrower shall pay to
<br />Lender each month a sum equal to one - twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage
<br />lapsed or ceased to be in effect. Lender will accept, use and retain these payments as a loss reserve in Hsu of mortgage Insurance. Loss reserve
<br />payments may no longer be required, at the option of Lender, if mortgage insurance coverage On the amount and for the period that Lender
<br />requires) provided by an insurer approved by Lender again becomes available and is obtained. Borrower shall pay the premiums required to
<br />maintain mortgage insurance in effect, or to provide a loss reserve, until the requirement for mortgage insurance ends in accordance with any written
<br />agreement between Borrower and Lender or applicable law.
<br />9. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at
<br />the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />10. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other
<br />taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument, whether or not then
<br />due, with any excess paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property immediately
<br />before the taking is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the taking, unless
<br />Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds
<br />multiplied by the following traction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market value of
<br />the Property immediately before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair
<br />market value of the Property immediately before the taking is less than the amount of the sums secured immediately before the taking, unless
<br />Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides, the proceeds shall be applied to the sums secured by
<br />this Security Instrument whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim
<br />for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the
<br />proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of
<br />the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments.
<br />11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the
<br />sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the
<br />original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or
<br />refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of
<br />or preclude the exercise of any right or remedy.
<br />12. Successors and Assigns Bound; Joint and Several Liability; Co- signers. The covenants and agreements of this Security Instrument
<br />shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Borrower's covenants and
<br />agreements shall be joint and several. Any Borrower who co -signs this Security Instrument but does not execute the Note: (a) is co- signing this
<br />Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) Is not
<br />personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend,
<br />modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent.
<br />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
<br />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
<br />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
<br />Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed
<br />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
<br />without any prepayment charge under the Note.
<br />14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first lass mail
<br />unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower
<br />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
<br />designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender
<br />when given as provided in this paragraph.
<br />15. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the
<br />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
<br />not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the
<br />provisions of this Security Instrument and the Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br />17. Transfer of the Property or a Beneficial Interest In Borrower. If all or any part of the Property or any interest in it is sold or transferred
<br />(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,
<br />at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by
<br />Lender if exercise is prohibited by federal law as of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days
<br />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
<br />these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or
<br />demand on Borrower.
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security
<br />Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatement) before
<br />sale of the Property pursuant to any power of sale contained in this Security Instrument; or (b) entry of a judgment enforcing this Security
<br />Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as
<br />If no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this
<br />Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure
<br />that the lien of this Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument
<br />shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective
<br />as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraph 17.
<br />19. Sale of Note; Change of Loan Servicer. The Note or a partial interest in the Note (together with this Security Instrument) may be sold one
<br />or more times without prior notice to Borrower. A sale may result in a change in the entity (known as the 'Loan Servicer') that collects monthly
<br />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
<br />Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the charge in accordance with paragraph 14 above and
<br />applicable law. The notice will state the name and address of the new Loan Servicer and the address to which payments should be made. The
<br />notice will also contain any other information required by applicable law.
<br />20. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances
<br />on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property that is in violation of any Environmental
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