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9 5- 0008 1 5-. 000803 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 for damages, Borrower fails to respond to Lender within 30 days after the dare the notice is given. Lender is authorized to collect and apply the proceeds, at its option, either to restoration or to the sums secured by this Security Instrument, whether or not then due. repair of the Progeny o Unless Lender and Borrowerotherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. 10. Borrower Not Released; Forbearance 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 in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 1 1. Successors and Assigns Bound; Joint and Several Liability; Co- signers. The covenants and agreements of 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 bejoint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co- signing ill's 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 Secunty 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 mmrest or other loan charges collected or to in 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 'he principal owed 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 rendenng any provision of the Note or this Secunty Instrument unenforceable according to its terms. Lender, at its option, may require immediate payment in full of all sums secured by 'his 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. Anv notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mulling n by first class mad 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 staled herein or anv other address Lender designares by nonce to Borrower. Any notice 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 Security Instrument shall be governed by federal law and the law of the jurisdiction m which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the 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. interest' n u Transfer sold Or transferPredOnf artsenBefivafi m[ereuen Borrow Borrower or transferred and BorrowePi �notta natural or any person) without Lender's pnor written consent. Lender may, at its option. require immediate payment m full Of a;; sums secured by this Security Instrument. However, this option shall not he exercised by Lender •f 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 dale the notice's delivered or marled 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 an � remedies permitted by this Security Instrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions. Borrower shall ha%c the right to hasc enforcement of this Security Instrument discontinued a' any time prior to the earlier Of (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale cf the Property pursuant to any power of sale Contained in this Security Instrument. or ih) entry of a judgment enforcing this Security Instrumem. Those conditions are that Borrower . fa) pays Lender ail sums which then would he due under this Security Instrument and fie ibis had no acceleration incurred; ill cures any default of any oilier cosenants or agreements; (c) pays all expenses incurred m enforcing this reasonably Instrument. including. That huh nut limned to, reasonable attorneys' fees. and (d) takes such action as Lender mas reasonably requite tri assure that the hat of this Security Instrument Lender's rights to the Property and Borrosset's Borrow n to pay the sums secured by this Security Instrument shall continue unchanged. Upon BOld lion ou iw Borrower. this Secunty is and the obhgauons secured hereby shall remain fully afeGnve as trio aceclrhanO❑ had occurred. Howe \cr. this right to reinstate shall not apply m file Gast• oI acct'leration ,,,act paragraphs I l or I' NON.UNIFORN COVENANis Borrower and Lender fun her covenant and agree as follows. breach of any covenanl or agree)" nt n this Securityilnstrumcnl ^but Borrower not prior to acceleration acceleration nder paragraphs 13 and 17 Bales! applicable pe y q i ppl bk law Provides otherwise). The notice shall s cif : ia) the default; Ibl the action required to curio the I default', (e) a date, not leas than 30 days from the date the notice Is given to Borrower, by which the default must he 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 p secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right i rdaalata after acceleration and the right to bring a court action to assert the nun - existence of a default or tiny other dtf*o" of Borrower to acceleration and sale. If the default limit Cured Bit or before the dale speci fled in the notice, Lender p At Its option may require Immediate payment in full of all sums secured by this Security instrument without further 10 Collect Ail expeastoo Incurred nt pursuiing and he remedies provided Permitted by paragraphs 19 law. ludina` but nor limi[ell 1.,, 11 reasonable attorneys' lees and costs of title evidence. If the power of isle is mooked, 'I ruslo, shall record a notice of default in each nnnity in which any into of the PmVgrtY Is located and shall mail copies of such notice in the manner prescribed by applicable Inw in Borrower and Ili 110, other Peru)", prexc•ribed by appllcable law. After the lime required by Applicable law, Isle In file Person, and In the m ltiuef prescribed by applicable law. Ira nee, w'ihuur demimtdc , , I,II mgr m,ei'it.halli sr If ith, —_J