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99 110096 Unless Lender and Borrower otherwise agree in wridng, any application of proceeds to principal shall not eztend or postpone the due date of the monthly payments refened to in paragraphs 1 and 2 or change the amount of such payments. 11. Bornower Not Rcicased; Forbcarancc By Lender Not a Waiver. Extension of the time for payment or modification of amortizadon of the sums secured by tbis Security Instrument granted by Lender to any successor in interest of Bonower shall not operate to releasc the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commencc proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instnunent by reason of any dcmand made by the original aonower or Borrower's successors in interest. Any forbearance by Lender in exercising any ri�ht or remedy shall not be a waiver of or preclude the ezercise of any right or remedy. 12. Successors aiud Assignc Bound; Joint and Scvcral I.iability; Co-signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Bonower who co-signs this Security Instnunent but dces not execute the Note: (a) is co-signing this Security Instnnnent only to grant, bargain, sell, convey and confirm that Bonower's interest in the Property under the terms of tlus Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to exte�cl, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or thc Note without that Borrower's consent. 13. Laan 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 conntction with We loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the char�e to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed 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. Nodces. Any nntice to Borrower provided for in tbis 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 nodce 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 I.ender's address stated herein or any other address Lencier designates by nokice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Bonower or Lender when given as provided in this paragraph. 1S. Cwarning I.�w; Saverability. Tbis Security Instrument shall be governed by federal law and the law of the jurisdicdon in wluch the Property is located. In the event that any provision or clause of tbis Security Instrument or the Note conflicts with applicable law,such conflict shall not affect other provisions of tlus Security Instrument or the Note wb.ich can be given effect without the conflicting provision. To this end the provisions of tbis Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Bonower shall be given one conformed copy of the Note and of this Security Instrument. 17. Transfer of tbe Froperty or A Bcne5ciA1 Interestt in Borrower. If all or any part of the Property or any interest in it is sold or transfened (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) witlwut Leader's prior written consent, Lender may, at its opdon, require immediate payment in full of all sums secured by this Security Instnxment. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instniment. If Lender ezercises this option, Lender shall give Bonower notice of acceleradon. The notice shall provide a period of not less than 30 days from the date the nodce 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 Securiry Instrument without further notice or demand on Bortower. 18. Borrower's Right to Rcin�tate. If Borrower tneets certain conditions, Borrower shall have the right to have enforcement of this Security Instivment discondnued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any 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 I.ender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Insttument, including, but nnt limited to, reasonable attorneys' fees; and (d) takes such acdon as Lender may reasonably require to assure that the lien of ttus Security Instrument, Lender's rights in the Property and Bonower's obligadon to pay the sums secured by this Security Instrument sha11 continue unchanged. Upon reinstatement by Borrower, tlus Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occuned. However, this right to reinstate shall not apply in the case of acceleration under paragraph 17 or paragraph 39. 19. Sale of Note; Change of Loati Servicer. The Note or a partial interest in the Note (together with this Security Instrument) may be sold one or more times without prior notice to Borrower. The holder of the Note and tlus Security Instrument shall be deemed to be the Lender hereunder. A sale may 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 I,oan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change in accordance with paragraph 14 above and applicable law. The notice will state the na.me and address of the new Loan Servicer and the address to which payments should be made. The notice will also contain any other information required by applicable law. 20. Hazardous Substa�es. Bonower 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,nor allow anyone else to do,anything affecting the Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage on We Property of small quantities of Hazardous Substances that aze generally recognized i to be appropriate to normal residential uses and to maintenance of the Property. xEB�ASKA A�tu P�toG�AYS (REV. 03/97) n�wr �.�.c�>�+�-i�z Pa�e 4 of 7 Borrower Iaitials C � f��' �C�