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<br />85.:: 000623
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to
<br />make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is
<br />given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or
<br />to the sums secured by this Security Instrument, whether or not then due.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of :he monthly payments referred to in paragraphs I and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in
<br />interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest.
<br />Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy
<br />shall not be a waiver of or preclude the exercise of any right or remedy.
<br />11. Successors and Assigns Bound; Joint and Several Liability; Co- signers. The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreements shall bejoint and several. Any Borrower who co -signs this Security
<br />Instrument but does not execute the Note: (a) is co- signing this Security Instrurient only to mortgage, grant and convey
<br />that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay
<br />the sums secured by this Security Instrument, and (c) agrees that Lender and any other Borrower may agree to extend,
<br />modifv, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Securitv Instrument is subject to a law which sets maximum loan
<br />that charges, and that law is finally interpreted so the interest or other loan charges collected or to be collected in
<br />connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed
<br />under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13, Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has the effect of
<br />rendering any provision of the Note or this Security Instrument unenforceable according to its terms. Lender, at its option,
<br />may require immediate payment in full of all sums secured by this Security instrument and may invoke any remedies
<br />permitted by paragraph 19. If Lender exercises this option. Lender shall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Secunty Instrument shall be given by delivering it or by
<br />mailing it by first class marl unless applicable law requires use of another method. The notice shall be directed to the
<br />Properly Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br />first class marl to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall he deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Law; Severability. This Secunty Instrument shall be governed by federal law and the law of the
<br />jurisdiction in which the Property is located. In the event that any provision or clause of this Secunty Instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Security instrument or the Note
<br />which can be riven effect without the conflicting provision. To this end the provisions of this Secunty Instrument and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Secunty instrument.
<br />17. Transfer of the Property or a Beneficial interest in Borrower. if all or any part of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />person) without Lender's pnor written consent, Lender may, at its option, require immediate payment in full of all sums
<br />secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 30 days from the date the notice is delivered or marled within which Borrower must pay all sums secured by
<br />this Secunty Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may m%oke any
<br />remedies permitted by this Secunty Instrument without further notice or demand on Borrower
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions. Borrower shall have the right to hasc
<br />enforcement of this Security Instrument discontinued at ally time prior to the earlier of: (a) 5 days (or such ,ether penod as
<br />;applicable law may specify for reinstatement) before %ale of the Property pursuant to any iower of sale contained in this
<br />Security Instrument; or (h) entry of a judgment enforcing this Security Instrument. Those conditions arc that Bormwc -r
<br />(a) pays Lender all sums which then would he due under this Security Instrument and the Note had no acceleration
<br />occurred; (b) cures any default of any other covenants or :agreements; lc) pays all expenses incurred ui enforcing till,
<br />Security Instrument, including, but riot limited to, reasonable attorneys' fees Band (d) takes ,itch action as 1_ender mac
<br />reasonably require to assure that the lien of this Securitv instrument, Lender's rights tit the Property and Ilorto�%cr
<br />obligation to pay the sums secured by this Secunty Instrument shall continue unchanged. 1'pon remstatement „,
<br />Borrower, this Security Instrument and the obligation-, secured hereby ,hall rcrnaui (oily elfrcuve .as if' no acceierauon
<br />occurred. However, this right to reinstate shall not apply in the sass of acceleration under paragrarli, i? or
<br />NOW - UNIFORM COVENAN IS Borrower and Lender further covenant and agree as follows
<br />19. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration folloaeing )lorrrmer's
<br />breach of any covenant or agreement in this Security instrument (but not prior to acceleration under paragraphs 13 anti I"
<br />unleals applicable law provides otherwise). The notice .shall specify: (a) the default; (h) the action required to cure the
<br />default (c) a date, not less than 30 days from the date the notice is Riven to Borrower, by which the default must he cured;
<br />and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums
<br />secured by this Security instrument and sale of the Property. The notice shall further inform Borrower of the riwlit to
<br />reinstate after acceleration and the right to bring a court action to assert the non - existence of a default or :any other
<br />defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice. I ender
<br />at its option may require immediate payment in full of all sums secured by this .Security Instrument without furvhrr
<br />denintad and may invoke the power of sale and any other remedies permitted by applicable law. Lender shall he vntitled to
<br />collect all expenses incurred in pursuing the remedies provided in this paragraph 19, including, but not limited to,
<br />reasonable attorneys' fees and costs of til,le evidence.
<br />If the power cif wale is invoked, TI usieer shall record a notice ill drfault in caach county tit isharh ate Bart of the
<br />Property is Irrrated and shall mail copies of such notice in the manner prescribed by applicable Ices to Biirrao%vr :and to tht,
<br />other perw ins prescribed by ;:applicable law. ,tiler the time requirrd by applicahlr law, i rirsiev shall vn%v public riotire �'t
<br />wale to the persons and in the ittanner press rihrd by apr licable kovo. hooter, ullhonl demand ,o Itoftmici, shall s, II ih,
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