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• , • ° �"� ' �AS�� Loan ID# 5560035017
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<br /> 12. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of this Security
<br /> Instrument shall bind and benef►t the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17.
<br /> Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does
<br /> not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in
<br /> the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this
<br /> Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any
<br /> 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
<br /> that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan
<br /> exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to
<br /> the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to
<br /> Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct
<br /> payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any
<br /> 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
<br /> by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address
<br /> or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to
<br /> Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this
<br /> Security Instrument shall be deemed to have been given to Borrower or Lender 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
<br /> which the Property is located. In the event that any provision or clause of this Securiry Instrument or the Note conflicts with
<br /> applicable law, such conflict shall not affect other provisions of this Securiry Instrument or the Note which can be given effect
<br /> without the conflicting provision. To this end the provisions of this Security' Instrument and the Note are declared to be
<br /> 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
<br /> or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without
<br /> Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this
<br /> Securiry Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the
<br /> 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
<br /> less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this
<br /> Securiry Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies
<br /> permitted by this Security Instrument without further notice or demand on Borrower.
<br /> 18.Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement
<br /> of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law
<br /> may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument;
<br /> or (b) entry of a judgement enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums
<br /> which then would be due under this Security Instrument and the Note as if no acceleration occurred; (b) cures any default of
<br /> any other covenants or agreements; (c) pays all expenses incurred in enforcing this Securiry Instrument, including, but not
<br /> limited to, reasonable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this
<br /> Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Securiry
<br /> Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured
<br /> hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case
<br /> 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 Securiry
<br /> Instrument) may be sold one or more times without prior notice to Borrower. A sale may result in a change in the entiry
<br /> (known as the "Loan Servicer") that collects monthly payments due under the Note and this Security Instrument. There also
<br /> may be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer,
<br /> Borrower will be given written notice of the change in accordance with paragraph 14 above and applicable law. The notice will
<br /> state the name and address of the new Loan Servicer and the address to which payments should be made. The notice will also
<br /> 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
<br /> Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the
<br /> Properry that is in violation of any Environmental Law. The preceding two sentences shall not appty to the presence, use, or
<br /> storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal
<br /> residential uses and to maintenance of the Property.
<br /> Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any
<br /> governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law
<br /> of which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental or regulatory authority, that
<br /> any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take
<br /> all necessary remedial actions in accordance with Environmental Law.
<br /> As used in this paragraph 20, "Hazardous Substances" are those substances defined as toxic or hazardous substances by
<br /> Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic
<br /> pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in
<br /> this paragraph 20, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate
<br /> to health, safety, or environmental protection.
<br /> NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br /> 21. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any
<br /> covenant or agreement in this Security Instrument (but not prior to acceleration under paragraph 17 unless applicable law provides
<br /> otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days
<br /> from the date the notice is given to Borrower,by which the default must be cured; and (d) that failure to cure the default on or
<br /> before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the
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