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this 2E0301325 he refunded m Borrowlu. Lender maychoosu to make 1g a direct payment to Borrower, lifts refund reduces any prepayment charge (whether or not a prepayment such refund made by direct Moment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Burrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other meads. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable law expressly requires otherwise. The notice address shall be the Property Address unless Burrower has designated a substitute notice address by notice to Lender. Borrower shall prmrgpHy notify Lender of Borrower's change of address. If Lender specifies a procedure for repotting Borrower's change ofaddress, then Burrower shall only report a change of address through that specified procedure. There maybe only one designated notice address under this Security Instrument at anyone time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Under's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Iender. If any notice required by this Security Instrument is also required under Applicable law, the Applicable Law requirement will satisfy the corresponding requirement tinder this Security Instrument. 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject to anyrequirernent s and limitations ofApplicable law. Applicable Law might explicitlyor implicitly allow the parties to agree by contractor it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or clause of this Security Instrument or the Nor econflicts with Applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. As used in this Security Instrument (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender, (b) words in the singular shall mean and include the plural and vice versa; and (c) tine word "may' gives sole discretion without any obligation to take any action. 17. Rorrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property' means an y legal or beneficial interest in the Property, including, but not limited to, those beneficial interests tranefurrcd in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer oftitle by Borrower at a fixture date to a purchaser. Ifall or any pert ofthe Property or any Interest in the Property is sold or transferred (or ifBorrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without I ender's prior written consent, Under may require immediate payment in full of all suers secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. ICLender exercises this option. Lender shall give Burrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration ofthis period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry ofajudgment enforcing this Security Instrument. Those conditions are that Burrower: (a) pays Under all sums which then would be due under this Security Instrument and the Nate 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 Instrument, including but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred fur the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by I znder (a) cash; (h) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Burrower, this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together with this Security Inst rument) can be sold one or more times without prior notice to Borrower A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Appplicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. Ifthereisaclnangeof the Loan Servicer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer, the address to which payments should be made mid any other information RESPA requires in connection with a notice oftransfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser u the Note, the mortgage loch servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Nate purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be)oined to anyjudicial action (as either an individual litigant or the member ofa class) that arises fi'onh the other party's actions pursuant to this Security Instrumentar that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Zander has notified the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable law provides a time period which must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. the notice of acceleration and opportunityto cure given to Borrower pursuant w Section 22 and the notice ofaccelerathon given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. NERIIASRA- Single Family — Faaaie Mae /Fieddie Nfae FNIFORb1INSTRI:MENT Form3028 1/01 (page6oJ8pa,,c, 9754 CV (1 /02) 1647536 GOTO(00040a49)