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85, 001370 the Property is abandoned by Borro w, r if, after c 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 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 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 shaft 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 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 ;.tcrest 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 lamas will be 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 treated as a ^ar,:ai 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 r encicrng 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 permitiert by paragraph ; q If Lender exercises this option, Lender shall take the steps specified in the second paragraph of paragrapfi i ° 14. Notices. k .- nouce to borrower provided for in this Security Instrument shall be given by delivering it or by ma[iing : by ' rat ..ass -oar uniess applicable law requires use of another method. The notice shad be directed to the Proper address r %n% . ther address Borrower designates by notice to Lender. Am notice to Lender shall be given by °first c 'ass :nazi i Lender s aadrel5 stated herein or any other address Lender designates by notice to Borrower. Any notice p,ro%adcci .:u ¢has Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided Yn this Para: rapn. 15. (;overning L.aw: tieverability. This Security instrument shall be governed by federal law and the law of the 'unsdt •ten In '•which the Property is hx:ated. In the event that any provision or clause of this Security Instrument or the Note conflicts with appocable !a w'. such conflict shall not affect other provisions of-this Security Instrument or the Note which can he given effect without the conflicting provision. To this end the provisions of this Security instrument and the Note are declared to be ceyarable. Ili. Borrower's Copy. Borrower shall be given one confirmed copy of the 'dole and of this Security 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 sdoid or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's pnor written consent. Lender may, at its option, require . mmediate payment in full of all sums secured by this Securlty Instrument However, this option shall not he exercised by Lender if exercise is prohibited by t'cdcrai 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 (tays from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Secunty 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 ordemand on Borrower. IA. Borrower's Right to Reinstate. if Borrower meets certain conditions. Borrower shall have fhe right to have enfiorcement of this Security instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as apPltcablc law may specify fior reinstatement) before sale of the Property pursuant to any power of sale contained in this Security instrument. or th) entry Of,titidgment enforcing this Security instrument. Those conditions are that Borrower (a) Pays Lender ail sums which then would he due under this Security Instrument and the Note had no acceleration occurred; tb) cures any default Hof any other covenants or agreements (c) pays Al expenses incurred in enforcing this Security instrument. including, but nor limited to. reasonable attnrnevs fees: and (d) takes such action is (,ender may reasonably require to assure :hat the lien of this Security Instrument. Lender's rights In the Property and Borrower's obligation ro pay the sums secured iv this Security Instrument hall ()nrrnue unchanged I.'pon reinstatement >,n Iorrower. this Security Instrument and the ohligaio.)os secured heietsv shall roman) lotto r fective as rP no acceleration had ,?ccurred However, this right In reinstate shall nor apply in the case ,�tacceleration under r +aragraphs I I or ?" NO N- UN)F<'YRM C OVI :'N.4ta'f5 Borrower and Lender further covenant and agree as ff)flow•s 19. Acceleration; Remedies. Lender ehall give notice to Borrower prior to acceleration following Borrower's breach of say Covenant or agreement in this Security Instrument (hut not prior to acceleration under paragraphs 13 and 17 dgbWt 29111111calilk law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the am (c) a date, not I . than 30 days from the date the notice is given to Borrower, by which the default must he cured: (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secaired by this Security instrument and sale of the Property. The notice shall further inform Borrower of the right to reimtste after acceleration and the right to bring a court action to assert the non - existence of a default or any other Of rower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender at its OlodJ06 "MY rewire immediate payment in full of all sums secured by this 'security Instrument without further And MAY invoke the Power of isle and any rather 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 tu, r able attic »eys' fees and chats of title evidence. if the power rat sale I% invoked. triatee %hall record as n(..cc fit default in rach ationty pia which an► part oo they Property in bested .and %hall mail copier of such notice In the manner prrwriheai fir appbcabIr law it, 13orrtmer ant ) the rather P*(1009 prvribed by :applicable. law, :®tter the time required by applicahic id-A. blister shall rirr pubfiy tifit ire i fiat" Sri ehe per%sieav land in the roanner prescribed by applicable flaw Irilsiev, wiihoilt demand „o fit +rrifwa•r, shaft sr if th,