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r L $.. i i t 86-- 100551 If the Property is abandoned by Borrower or if, after notice by Lender to Borrower that the condemnor offers to is A make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the.notice to restoration or repair of the:Propterty or given, Lender is authorized to collect and apply the proceeds. at its option, either to the sums secured by this Security Instrument, whether or not then duo of principal shall notextend.or Unless Lender and Borrower . otherwise agree in any application procecds.to the due date of the monthly payments referred to in paragraphs I and 2 or change the.amount of such payments. postpone 30. Borrower Not Released; 'Forbearsum By Leader Not a Waiver. Extension of the time for :payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any suceesser'rn Borrower or Borrower's successors in interest. interest of Borrower shall not operate to release the liability of the original Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this -Security Instrument by reasonof any- demandmade by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy steal I not be a waiver of or preclude the exercise of any right or remedy. 11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of this Security Instrumeritshall bind and benefit the successors and assigns of Lender.and Borrower, subject to.the:provisions be join! and several. Any Borrower who co-signs this Security of paragraph 17. Borrower's covenants and agreements shall Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage „grant:and convey that Borrower's interest in the Property under the terms of this Security Instrument: (b) is not personally obligated to pay Instrument; (c) agrees that Lender and any other Borrower may agree to extend, the sums secured by this Security and modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 12. Loan Charges. INhe loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount limit; (b) sums already collected from Borrower which exceeded necessary to reduce the charge to the permitted and any permitted limits will he refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treate, as a partial prepayment without any prepayment charge under the Note. 13, Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has the effect of rendering any provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option, by this Security Instrument and may invoke any remedies may require immediate payment in full of all sums secured by paragraph 19. If Lender exercises this option, Lender shall,take the steps specified in the second paragraph of permitted paragraph l7. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address stated herein or anv other address Lender designates by notice to Borrower. Any notice deemed have been to Borrower or Lender when given as provided provided for in this Security Instrument shall be to given in this paragraph. 15. Governing Law: Severability. This Security Instrument shall be governed by federal law and the law of the � jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Instrument the Nete Note conflicts with applicable law, such conflict shall not affect other provisions of this Security or of this Security Instrument and the which can be given effect without the conflicting provision. To this end the provisions Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. j 17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or transferred for if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. 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 delivered or mailed 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 Instrument without further notice or demand on Borrower. Borrower shall have the right to have 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument: or (bi entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower (a) pays Lender all sums which then would he due under this Security Instrument and the Note had no acceleration occurred: (b) cures any default of any other covenants or agreements: (c) pays all expenses incurred in enforcing this Securitv Instrument. including, but not limited to. reasonable attornevs' fees: and (d) takes such action as Lender may reasonably require to assure that the lien of ;his Security Instrument, Lender's rights in the Propert} and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower. this Securiiy Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. Flowever. this right to reinstate shall not apple in the case ofacceleratitin under paragraphs i? or ! 7 '.VON- U*:IEORM CeOVENANTS. Borrower and Lender further covenant and agree as follows: 19. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's Security Instrument (but not prior to acceleration under paragraphs 13 and 17 breach of any covenant or agreement in this unless applicable law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; tc1 a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums The further inform Borrower of the right to :7 secured by this Security Instrument and sale of the Property. notice shall reinstate after acceleration and the: right to bring a court action to assert the non - existence of a default or any tither defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender its option may require immediate payment in full of all sums secured by this Security Instrument without further to at demand and may invoke the power of sale and any other remedies permitted by applicable law. Lender shall he entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 19, including, but not limited it). reasonable attornevs' fees and costs of title evidence. if the power of wle is invoked. 'Trustee shall record a notice of default in each county in which anv part of the Property is located and shall mail copies of such notice in the manner prescribed hr applicable law to Borrower and to the other persons prescrilwd by applicable Inw. After the time required by applicable la%. Trustee shall vi.e itublic none• cif ,ale to the persons and in the manner prescrihed by applicabie law. "Trustee, without demand on Btirrnwet. ,hall svl! the