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200708844 There may be only one designated notice address under this Security Instrument at anyone lime. Any notice to Lender shall be given by delivering It or by mailing it by first class mall 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 actually received by Lender. If any nOliee required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security IO$trument. 16. Governing Law; Severability; Rules of Construction, This Security Instrument shall be governed by federllllaw and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject 10 noy requiremenls nnd limitations of Applicable Law. Applicable Law might eXplicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Luw, snch conllict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conl1icting 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 ioclude the plural and vice versa; and (c) the word "may" gives $ole di$cretion without any obligation to take any nction. 17, BOITower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 111. Transfer 01' the Pmpcrty or a Benellclal Intereslln 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 ill 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 purcbaser. 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 wrillen 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 Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less thun 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 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 Accelerullun. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Seenrity 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 might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions ,Ire 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 ngrcemcnts; (c) pays all expenses incurrcd in enforcing this Security Instrument, including, but not Iimitcd 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) tukes 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 arc insured by a federal ageocy, instrumentality or entity; Or (d) Electronic Funds Trnnsfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occtlrred. However, this right to reinstate shall not apply in the ease of acceleration under Section 18. _.6AINEII0407I.0. P.ge 11 (1115 I"";~~ Fonn 3026 1101