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200203381 ah-ea(Iv collected from Isoirower which exceeded permitted limits will be refunded to Borrower. Lender rnaychooseto make this refund by reducing the principal owed under the Note or by retaking a direct payment to Borrower. If a refund reduces principal, the reduction will be treau:_d as a partial prepayment without any prepayment charge (whetheror nota prepayment charge is p.rcvided for under the Note). Borrower's acceptance of any such re and made by direct payment to Borrower will constauto a waiver of any right of action Borrower might have arising out of such overcharge. 1-. Notices. Ali notices given by Borrower or L ndcr in connection with this Security Instrument must be in writing. Any notice to Borrower in cunnection with this Security Instrument shall be deemed to have been given to Borrower l,vhen mailed by first class mail or w hen actua11N,(:_-livered to Borrower's_ notice address if sent by othermeans. Notice to any ore Dorro,.ver shall constitute notice to all Borrowctrs unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender Borrower shall promptly notty Under of Borrower's change of address. If Lender specifies a procedure for reporting 1'orrow•er's change of address, then Borrower shall only report a charwe of address through that specified procedure. There maybe only one designated notice address under this Security Instrument nt any one time. .Any notice to Lender shall be Z.,iven, by deliverin<c it or by maitin ;g it by first class mail to Lender's address stated herein unless Lender has designated another address by notice io Borriw,cr. Any notice in connection will: this Security instrument shall not be deemed to have "Pen give n to l ender until actually received by Lender. if any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the c07're- l•onding requirement under this Security Instrt mellt. 16. Governing Law; Sc verability; Rules of Construction. This Security Instrument shall be governed by te.deral law and the law• of the jurn,diction in which the Property is located. All rights and obligations contained in this S t ui its Itlstr: nitrnt are subject to ally requirements and linlitatioris of Applicable law. Anpiicabfe 1-iw might explicitly or inllnli,:itly allow the parties to a ree by cimtr mca or it might be silent, but such silence shall .lot be construed as a prohibition atrain ;t agreement by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with 2iaplicable Law. such conflict steal. not affect other provisions of this Security Instrument or the Note which can be given el.;ect wit.'lout t le conflicting provision. As used in this Security lw;vument: (a) words of the masculine gender shall mean and include neuter weird, or wog ds of the feminine Lender; (b) words in the singular shall mean and inciude the piural and vice versa; and (c) the word "may" ,ivies sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be ziven one copy of the Note and of this Security Instrument. 18. 'I'ransf'er- of the Property or a Benefieial Interest in Borrower. As used in this Section 18, "Interest in the Property" meant; any legal or beneficial interest in the Property, including, bit not limited to, those beneficial interests transferred in a bond',cr deed, coati °actt for decd, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If ail or any part of the Property o' any Interest in the Property is sold or transferred (or if Borrower is not a natural pees -or and a bereficial interest in .Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate Payment in full of all Skirls secured by this Security Instrument. However, this option shall not be exercir.cd by lxnder if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower 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 si:cui ed by this security Instrument. It' Borrower tails to pay these sums prior to the expiration of this period, Lender may In,roke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Liorrovver's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have entbrcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law n1!",ht specifY for the termination of Boi rower's right to reinstate; or (c) entry of a judgment enforcing this Seta11'11y Instrument. Those conCitions are that Borrower: GO llays Lender ali sums which then :would be due under this Security :Instrunnent and the Note as if no acceleration had c> ourred; (b) cures any default ot-any other covenants or ag-rcements; (c) pa) all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, anci )purer fees incurred for 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 :i�;hta under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shari ct. ntinu e un::hanged. Le rider may require that Borrower pay such reinstatement sums and expenses in one or more of the following form.;, as selected by L -nder: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, prev ided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrument. lity or er:tity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, 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 (!ogether with this Seiurity Inst.- ument) can N_ 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 Applicable Law. There also rnigh' be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan .scrvicer. Bormwcr will be given written notice of the change which will state the name and address of the new Loan Servicer, the address to which pays —trits should be made and any other information RESPA requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchase. of the Note, to mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transterred to a successo.., Loan Servicer and are not assunle•i by the Note purchaser unless otherwise provided by the Note purchaser- Neither Borrower nor Lender may commence, join, or be joiner) to any judicial action (as either an individual litigant ))r the rnerrber of a class) that arises from the other party's actions pursuant to this Security Instrumentor that alleges that flit tr}lcr puny has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lander 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 patty 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 deerried to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration givern to Borrower pursuant to Section 1$ 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 environmental2rotection; (c) "Environmental Cleanup" includes any response action, remtdial action, or removal action, as defined in Environmental Law; and (d) an 'Environmental Condition" means a contrition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. ti1iIS1tA51� :L -- Sittig F-- I'll IV- •Fanm� Nlac)F'reddie Mae tiNIFOWNT IN'MtUMEN'r harm 0028 1101 tpage 6 of8 pages) G07 0(000108b6 )