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55.,../� i !f the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers O1495 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 I 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. IL Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of this Security Instrument shall band 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 S ec uritv 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 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, Legisistion 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 Security 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 any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address stated herein or any other address Lender designates by notice 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 in which the Property is located. In the event that an Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note y provision or clause of rhis Security Instrument or the 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. 17. Transfer of the Property or a Beneficial Interest in Borrower. If all or part of the Property or any an }' interest in it is sold or traisferred (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 optt�n, require immediate payment to full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibitea by federal law as of the date of this Security Instrument. If Lender exercises this option, Lender shalt give Borrower notice of acceleration. The notice 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 a pay these sums prior to the expiration of this period, Lender may invoke am remedies rxrmitted by this Security Instrument without further nonce or demand on Borrower. 1a. 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 (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument: or (b) 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 Securiry Instrument and the Note had no acceleration Occurred: (b) cures any default of any other covenants or a reements: (c) Pays all expenses incurred in enforcing this Security Instru ment. including, but not limited to, reasonable attorneys' fees: and (d) takes such action as Lender may g reasonably require to assure that the lien of this Security Instrument. Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security lnstrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as il'no acceleration had occurred. However, this right to reinstate shall not apply in the case ofacccleranon under paragraphs 13 or 17. NoN- UN[Fr,RM COVENANTS. Borrower and Lender further covenant and agree as follows: 19. Acceleration; Remedies Lender shall give notice to Borrower prior to acceleration following Borrower's bratach of say corenaat or aides oth t in this Security Instrument (but not prior to acceleration under paragraphs 13 and 17 a dote law provides otherwise), The notice shalt specify: (a) the default; (b) the action required to cure the am! (lq tc) s date, not leap than 30 days from the date the notice is given to Borrower, by which the default must be cured: sad fell that failure to cure the default on or before the date specified in the notice may result In acceleration of the sums secured by this Secarity Instrument and sale of the Pro r dsf" to alter acceleration tocce and the right e. bring a court action to notice assert the non-existence existencenof Borrower default or any other J &feaee of Borrower to acceleration and name if the full Wt Is not cured on or before the date specified in the notice, Lender at i� option may require immediate and nary Invoke the Payment in full of all sums secured by this Security Instrument without further collm all es power of sale and it other remedies permitted by applicable law. Lender shall be entitled to Pess� incurred la pursuing the remedies provided In this paragraph 19, including, but not limited to• r attmaeys' fees and eta of title evidence. If tike power of sate Is Invoked, rrusteo shall record a notice of default in each county in which any part of the P'oPerty Is located and shall mail copies of such notice in the manner prescribed by applicable law to forrower and to the 'K prescribed by applicable law. After the time required by applicable law, Trustee shall Rive public notice of sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on liorro%er, shall sell the