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200209312 LOM ,F, 2231749
<br />Property Or .10 the sums secured by this Security Instrument, whether or not then due. "Opposing Party " means the third party that
<br />owes Borrower Miscel l ancous Proceeds or the parry against whom Borrower has a right of action in regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender'sjudgment, could
<br />result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security
<br />Instrument Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the
<br />action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material
<br />impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for
<br />damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided
<br />for in Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of
<br />amortization of the sums secured by this Security Instrument grantedby Lender to Borrower or any Successor in Interest ofBarrower
<br />shall not operate to release the liability of Borrower or my Successors in Interest of Borrower. Lender shall notbe required to commence
<br />proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization
<br />of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest
<br />of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of
<br />payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not
<br />be a waiver of or preclude the exercise of any right or remedy.
<br />13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agreesthat Borrower's
<br />obligations and liability shall bejoint and several. However, any Borrower who co -signs this Security Instrument but does not execute
<br />the Note (a "co-signer") - (a) is co- signing this Security Instrument only to mortgage, grant and convey the co-signer'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 Security
<br />Instrument; and (c) agrees that Lender mid any other Borrower can agree to extend, modify, forbear or make any accommodations
<br />with regard to the terms of this Security Instrument or the Note without the co- signer's consent.
<br />Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this
<br />Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security
<br />Instrument Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender
<br />agrees to such release in writing. The covenants and agreements ofthis Security Instrument shall bind (except as provided in Section
<br />20) and benefit the successors and assigns of Lender.
<br />14. Loan Charges. Lender rnav charge Borrower fees for services performed in connection with Borrower's default, for the
<br />purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited lo,
<br />attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security
<br />Instrumenl to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not
<br />charge fees that are expressly, prohibited by this Security Instrument or by Applicable Law.
<br />If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other
<br />loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall
<br />be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower
<br />which exceeded permitted limits will be refundedto Borrower. Lender maychoose to make this refundby reducing the principal owed
<br />under the Note or by making a direct payment to Borrower. B a refund reduces principal, the reduction will be treated as a partial
<br />prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's
<br />acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might
<br />have arising out of such overcharge
<br />15. Notices. All notices given by Borrower r Lender in connection with this Security Instrument must be in writing_Anynoticc
<br />to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class
<br />mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute
<br />notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless
<br />Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's
<br />change of address. if Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a
<br />change of address through that specifiedprocedure. There maybe only one designated notice address under this Security Instrument
<br />at any one time Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address staled
<br />herein unless Lender has designated another address by notice to Borrower. Any notice in connection withthis Security Instrument
<br />shall not be deemedto havebeen given to Lender until actually receivedby Lender. Ifany notice required bythis Security Instrument
<br />is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this
<br />Security Instrument.
<br />16, Governing Law; Severability; Rules of Const ruction. This Security Instrument shall be governed by federal law and the
<br />law of Ilre jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject
<br />to any requirements and limitations ofADplrcable law. Applicable Law might explicitly or implicitly allow the parties to agree by
<br />contractor it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that
<br />any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other
<br />provisions of this Security Instrument or the Note which can be given effect without the conflicting provision.
<br />As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or
<br />words of the funinine gender, (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may"
<br />gives sole discretion without any obligation to take any action.
<br />17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument.
<br />18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property"
<br />means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond
<br />for decd, contract for deed, installment sales contract or escrow agreement, the intent ofwhich is the transfer oftitle by Borrower
<br />at a future date to a purchaser.
<br />If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and
<br />abeneficial interest in Borrower is sold or transferred) without Lender's prior wrillen consent, Lender may require immediate payment
<br />in full of all sums secured by this Security Instrument, however, this option shall not be exercised by Lender if such exercise is
<br />prohibited by Applicable Law.
<br />If tender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less
<br />than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums'I¢ \1ec /uredrb�y�r
<br />NERILISEA-- Single family—F,uw, M—T -ddw Mee r INIFORM INSTRUMENT Initials[ � It
<br />Furor 3028 non Page 6 of 8 NEUDEEo
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