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<br /> 13. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan
<br /> charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in
<br /> connection with the loan exceed the pernutted limits, then: (a) any such loan charge shall be reduced by the amount
<br /> necessary to reduce the charge to the pernutted limit; and (b) any sums already collected from Borrower which exceeded
<br /> 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
<br /> partial prepayment 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
<br /> mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the
<br /> Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br /> first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice
<br /> provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in
<br /> this paragraph.
<br /> 15. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the
<br /> jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the
<br /> Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note
<br /> which can be given effect without the contlicting provision. To this end the provisions of this Security Instrument and the
<br /> 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
<br /> interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a
<br /> natural person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all
<br /> sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by
<br /> 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
<br /> not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br /> this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any
<br /> remedies pernutted 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
<br /> enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as
<br /> applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this
<br /> Security Instrument; or(b)entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a)
<br /> pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had
<br /> 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
<br /> reasonably require to assure that the lien of this Security Instrument, Lender's rights in the Property and Borrower's
<br /> obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by
<br /> Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had
<br /> 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
<br /> Instrument) may be sold one or more times without prior notice to Borrower. A sale may result in a change in the entity
<br /> (known as the "Loan Servicer") that collects monthly payments due under the Note and this Security Instrument. There
<br /> also 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
<br /> Servicer, Borrower will be given written notice of the change in accordance with paragraph 14 above and applicable law.
<br /> The notice will state the name and address of the new Loan Servicer and the address to which payments should be made.
<br /> The notice will also contain any other information required by applicable law.
<br /> 20. Hazardous Substances. Borrower shall not cause or pernut the presence, use, disposal, storage, or release of
<br /> any Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting
<br /> the Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence,
<br /> use,or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to
<br /> normal 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
<br /> any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or
<br /> Environmental Law of which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental or
<br /> regulatory authority, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary,
<br /> Borrower shall promptly take 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
<br /> used in this paragraph 20, "Environmental Law" means federai laws and laws of the jurisdiction where the Property is
<br /> located that relate 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
<br /> breach of any covenant or agreement in this Security Instrument(but not prior to acceleration under paragraph 17
<br /> unless applicable law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure
<br /> the default;(c) a date,not less than30 days from the datethe notice is given to Borrower, by which the default must be
<br /> cured; and d)that failure to cure the default on or before the date specified in the notice may result in acceleration of
<br /> the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of
<br /> the right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or
<br /> any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in
<br /> the notice, Lender at its option may require immediate payment in full of all sums secured by this Security
<br /> Instrument without further demand and may invoke the power of sale and any other remedies permitted by
<br /> applicable law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this
<br /> paragraph 21, including, but not limited to, reasonable attorneys' fees and costs of title evidence.
<br /> • Form 3028 9/90 (page 4 oj 5 pages)
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