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85= 000796
<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 />its either to restoration or repair of the Property or
<br />given, Lender is authorized to collect and apply the proceeds, at option,
<br />to the sums secured by this Security Instrument, whether or not then due.
<br />in writing, any application of proceeds to principal shall not extend or
<br />Unless Lender and Borrower otherwise agree
<br />postpone the due date of the 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 .qr
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor,gu
<br />interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interegtg
<br />against any successor in interest or refuse to extend time for:
<br />Lander shall not be required to commence proceedings
<br />payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand madir-
<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 be joint and several. Any Borrower who co -signs this Security
<br />Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage. grant and convey
<br />that Borrower's interest in the Property under the terms of this Security Instrument; (b) is pot personally obligated to pay
<br />Security Instrument: (c) agrees that Lender and any other Borrower may agree to extend.
<br />the sums secured by this and
<br />modify, 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 Security Instrument is subject to a law which sets maximum loan
<br />charges, and that law is finally interpreted so that 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 Bring 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 Security Instrument shall be given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another method. The notice shall he directed to the
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br />first class mail 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 be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />13. Governing Law; Severability. This Security 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 Security 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 given effect without the conflicting provision. To this end the provisions of this Security 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 Security Instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any pan 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 prior 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 he 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 pro%'de a period
<br />of no less than 30 days from the date the notice is delivered or mailed within w hich 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 invoke any
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower.
<br />18. Borrower's Right to Reinstate. If Borrower meets certain cimdmons, Borrower shall have the right to ha%c
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of (a) 5 days (or such other period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this
<br />Security Instrument; or (b) entry of a judgment enforcing this Security instrument Those conditions are that BotW%%er
<br />(a) pays Lender all sums which then would he due under tht% Securuy Instrument and the Note had no acceleration
<br />occurred; (b) cures any default of any other covenants or agreements: (c) pays all expenses incurred in cntircing this
<br />Security Instrument, including, but not limited to, reasonable attorneys' fen, and (d) takes such action as Lender uta.�
<br />reasonably require to assure that the hen of this Security lnsuuniem, Lender's rights in the Property and Bottoucr s
<br />obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement F�
<br />Borrower, this Security Instrument and the obligations secured hereby shall rernam fully effective as it nu ecrelcrauon had.
<br />occurred. However, this right to reinstate shall not apply in the case "I acceleraton under paragraphs I 'm 19
<br />NoN -Umymm COVENANTS Borrower and Lender further covenant and agree as follows:
<br />19. ti0n; Retoodies. Lender shall give notice to Borrower prior to acceleration following liorrower's
<br />resssb o( say covenant or agreement in this Security instrument (but not prior to acceleration under paragraphs 13 and 17
<br />aMiass a"Mciable law provides otherwise). The notice shall specify: tai the default; (b) the action required to cure the
<br />It) a does, not Idea than 30 clays from the date the notice is given to Borrower, by which the default must he cured:
<br />tend (d) lest failere to ewe the default on or before the date specified In the notice may result in acceleration of the sums
<br />assured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to
<br />a default or any other
<br />'
<br />rsisaiaes a(tde accellerstion and the right to bring a court action to assert the non - existence of
<br />tfisfulde of Borrower to am an and sale. if the default is not cured on or before the date specifled in the notice, Lender
<br />�
<br />at No may "in Immediate payment in full of all suers secured by this Security Instrument without further
<br />s
<br />didoaad Md may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to
<br />COBW W expenses Incurred In pursuing the remmilies provided in this paragraph 19, Including, but not limited to,
<br />reaeossible attotosys'fees and costs of title evidence.
<br />It the power of sale is invoked, Trustee shall record a notice of default in each county in which tiny part of the
<br />ProviortY is located and shall mall copies of such notice in the manner prescribed by applicable law In Ilorrower and to the
<br />saber Perseus prescribed by applicable law. After the time required by applicable law, Trustee shall give public notict, ,,i
<br />d
<br />Mrs to the petrismas rind in the manner prescribed by applicable law. 1'ruslee, without demand on ltorrowrr, ,hail se Ii 1 he
<br />I
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