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200700328 There may be only one designated notice address under this Security Instrument at anyone time. Any notice to I,ender shall be given by dclivering it or by mailing it by first dass mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in wnnection with this Security Instrument sball not be deemed to have been given to Lender 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 corresponding requirement under this Security Instmment. 16. Governing Law; Severability; Rules of Construction. This Security Instmment 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 Instmment are subject to any rcquirements and limitations of Applicable I ,aw. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be eonstmcd as a prohibition against agreement by contract. In the event that any provision or dause of this Security Instrument or the Note conflicts 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 fcminine gender; (b) words in the singular shall mean and indude the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 17. Borrower'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 any legal or beneficial interest 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 oftitle by Borrower at a future date to a purchaser. If all or any part ofthe Property or any Interest in the Property is sold or transferred (or if Rorrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may requirc immediate payment 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, 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 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 Security Instmment 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 time prior to thc 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 might specify for the termination of Horrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instmment. Those conditions are that Horrower: (a) pays Lender all sums which then would be due under this Security Instmment and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreemcnts; (c) pays all expcnscs incurred in enflll'Cing this Security Instrument, including, but not limitcd to, reasonable attorneys' fees, property inspection and valuation fees, and other 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 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 Lender: (a) cash; (b) 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 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. Initials ~ ~ G- ..JJ _ -6A(NE) (0407)01 @ DDS-NET Page 11 of 15 Form 3028 1/01