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20060 t7'i~ There may be only one designated notice address under this Sccurity Instrument at anyone time. Any notice to Lender shall bc given by delivering it or hy mailing it hy first class mail to Lcndcr's address stated hercin unless Lcnder has designated anothcr address by notice to Borrower. Any notice in connection with this Sccurity Instrurnent shall not bc deemed to havc been givcn to Lender until actually rcccived by Lcndcr. If any notice rcquired by this Security Instrulllcnt is also requircd under Applicable Law. the Applicablc Law rcquiremcnt will satisfy thc corresponding requircmcnt under this Sccurity Instnllncnt. 16. Governing L:1W; Severabilit)"; Rules of Construction. This Security Instrumcnt shall be governed by federal law and the law of the jurisdiction in which the Property is located. A II rights and obligations contained in this Security Instrument are subject to any requiremc'nts and I imitations of Applicable Law. Applicablc Law' might explicitly or irnplicitly allow the parties to agree by contract or it might be silent. but such silence shall not be construed as a prohibition against agreelllent by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law. such confl ict shall not affect other provisions of this Security Instrument or thc Note which can be given effect without the cont1icting provision. As used in this Security Instrulllent: (a) words of the rnasculine gender shall mean and includc corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (e) the word "may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy ofthe Note and of this Security Instrument. lit Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section IX. "Interest in thc Property" rneans any legal or beneficial inten:st in the Property, including. but not limited to, those benefIcial interests transferred in a bond for deed, contract for deed. 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 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 a bendicial interest in Borrower is sold or transferred) without Lender's prior written consent. Lender may require immediate payrnent in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lcnder shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is givcn in accordance with Section 15 within which Borrower must pay all slims secured by this Security Instrument. If Borrower fails to pay tllese slims prior to the expiration of this period. Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration, If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any tinle prior to the earliest of: (a) five days beft)re 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 of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had oeeurred~ (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 ftlr the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such aetion as Lender may reasonahly 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 requirc that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selectcd by Lender: (a) cash; (b) money order; (el certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits arc insured by a federal agency, instrumentality or entity; or (d) Electronic funds Transfer. Upon reinstatement by Borrower, this Security Instrument and ohligations secured hereby e-6(NE) (0407).01 @ Pa:Je 11 of 15 ,. ~r") 0110247550 Initial: ~ . '3. 1.1 Fonn 3028 1/01