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100014 If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim foe. damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the proceeds; at its option, either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing• any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to to paragraphs l and 2 or change the amount of such payments 1fl. Borrower Not Rdease� 6orbaratace By Lender 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 successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. 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 reason of any demand made by the original Borrower or Borrower's successors to interest. Any forbearance by Lender in exercising any right or remedy shall not he a waiver of or preclude -the exercise of any tight or remedy_ lity; Co-signers. The covenants and agreements of 11. Successors and Assigns Bound, Joint and Several Liabi this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co -signs this Security 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 the sums secured by this Security instrument; and (c) agrees that Lender and any other Borrower may agree to extend, 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. - If the 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 necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal o •d under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated 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, may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies permitted by paragraph 19. If Lender exercises this option. Lender shall.take the steps specified in the second paragraph of paragraph 17. 14. Notices. Any notice to Borrower provided for in this Secunty 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 anv other address Borrower designates by notice to Lender Any notice t-) Leader shall be given by first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower Any nonce provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. Governing Law; Severability. This Secunty Instrument shall he 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 Secunty Instrument or the Vote conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Vote which can be given effect without the conflicting provision. To this end the provisx>n, r:f this Secunty Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one conformed cope of the Vote and of this Secunty Instrument. 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 (or 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 opton, require immediate payment in full of all sums secured by this Secunty instrument. However, this optmn ,hail not he 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 nonce 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 Secunty Instrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions. Borrower shall have the right to have enforcement of this Security instrument discontinued at any time prior to the earlier of (a) 5 days for such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Secunty instrument: or fb) 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 Secunty Instrument and the Note had no acceleration occurred; lb) 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. and (d) takes such action as Lender may reasonably require to assure that the hen of this Security Instrument. Lender's right,, in the Propert% and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower. this Secunty instrument and the obligations secured hereby shall remain full} effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of ,acceleratwn under paragraphs l i or I NON-UNIFORM COV ENAN rs Borrower and Lender further covenant and agree as follows- ' 19. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under paragraphs 13 and 17 usl ine applicable law provides otberwise). The notice shall specify: (a) the default; (b) the action required to cure the defsrlit: (e) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured: aril (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums steered by this Security Instrument and sate of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non- existence of a default or any other t-- de aw of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender at its option may require immediate payment in full of all sums secured by this Security Instrument without further t demand and may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to colket all expenses incurred in pursuing the remedies provided in this paragraph 19, including, but not limited Err. reasonable sttarmys' fees and costs of title evidence. If the power of salt is invoked. Trustee shall record a notice of default in each county in which any part of the Property is located and shsil mail copies of such notice in the manner prescribed h♦ applicable law a+ Borrower and pr the crlher perans prescribed by applicable law. After the time required by applicable saw. 1 roster %hall i;r.e public i—tice It sale to the persons and in the manner prescribed by applicable ta* irastre, '�rthnut riernand n Ri.irirwer, chin{ .ci; the