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, 200701416 LOU " 0021635891 mailed by first class mall or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constttute notice to alt Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designatGcl a substitute notice address by notice to Lender. Borrower shall prompUy notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There may be 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 Lender'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 aQtually received by Lender. If any noUee required by this Security Instrument is also required under Applicable Law, the Applicable Law requlremcmtwill satisfy the corresponding requirement under this Security Instrument. 16. Govemlng Law; Sevorablltty; RUles of ConstRIction. This Security Instrument shall be governed by federal law and the law of the jurisdiction In which the Property ls located. All rights and obligations contained In this Security Instrument are subject to any rsqulrements and limttatlons of Applicable Law. Applicable law might expllciUy or implicitly allow the parties to agree by contract or tt might be silent, but such silence shall not be construed as a prohibition against agreement by oontract. In the event that any provision or clause of this Security Instrument or the Note conftlcts with Applicable law, such conftlct shall not affect ether 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) 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. Tranefer 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 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 beneficial interest in Borrower Is sold or transferred) without Lender's prior written consent, Lender may require 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 Applloable 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 falls to pay these sums 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. Bol1'ower'a Right to Reln.tate 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 the ear1iest of: (a) five days before sale of the Property pursuant to Bny 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 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 otherfees Incurred for the purpose of protecting Lender's Interest In the Property and tights 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 rransfer. 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 0' Loan Servlcer; Nodee of Grievance. The Note or a partial Interest In the Note (together wtth this Security Instrument) 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 Servlcerlt) 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 might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there Is a change of the Loan Servlcer, Borrowerwill be given written notice of the change which will state the name and address of the new Loan Servicer and the address to which payments should be made. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises from the other party's actions pursuant to this Security Instrument or 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 Lender 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 opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration 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. HE DHcI of TruR . Single Famlty - Home Equity (IWI.4/0S1 Page 7 of 9 NEXDEED 0500 lD :V -'1