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001709
<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 orsettle 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 />r 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 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 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 riot 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 arty demand made
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy
<br />i shall not be a waiver of or preclude t he 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- snk:as 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 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 />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 tine 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 AfTecting 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 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 be 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 />15. 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 riot affect other provisions of this Security Instrument or the Note
<br />which can be given effect without the conflicting provision ro this end the provisions of this Security Instrument and the
<br />Note are declared to he 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 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 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 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 mailed within which Borrower must pay all sums secured by
<br />this SecuritT_�n trument 1(BorrOwer (ails to pay these sums Dior to the expiration of this period, Lender may n
<br />ru invoke ay
<br />remedies permitted by this Security Instrument 'without further notice or demand on Borrower. - "T
<br />1E. Borrower's Right to Reinstate. If Borrower meets certain conditions. Borrower shall have the right to Dave
<br />enforcement Of this Security instrument discontinued at any time prior to the earlier of (a) S 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 Borrower,
<br />(a) pays Lender all sums which then would be clue under this Security instrument and the Note had no acceleration
<br />occurred; (b) cures any default of any other covenants or agreerents: (c) pays all expenses incurred in enforcing this
<br />Security Instrument, including but riot limited to, reasonable attorneys' fees: arid id) takes Such action as Lender may
<br />reasonably require to assure that the lien of this Security Insirurnent Lender's rights ui the Property and Horro%ser s
<br />Obligation to pay the sums secured by this Security Instrument shall continue unchanged. t pop rerrislaleitlenl by
<br />Borrower, this Security instrument and the obligations secured hereby shall remain fully effective as if no acceleration frail
<br />occurred. However, this right to reinstate shall not apply ni the case of acceleration uocder paragraphs I? Or 17
<br />NOP4.Ur4iFoRm COVENANTS. P,orrower and Lender furiher covenant and ag,rce as
<br />19. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's
<br />breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under paragraphs 13 and 17
<br />appikshle law provides otherwise). The notice shall specify; (a) the default, (b) the action required to Pore the
<br />default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must he cured;
<br />(d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the stints
<br />a soured by this Security Instrument and sale of the Property. '17re notice shall further inform Borrower of the right fo
<br />reinstate after acceleration and the right to bring a court action to assert the nun - existence of it default or any other
<br />defellive of Borrower to acceleration arid sale. If the default is not cured on or before the date specified in the notice, Lender
<br />At Its option may require immediate payment in full of all sums secured by this Security Instrument without further
<br />deariond Bad may invoke the power of sale and any other remedies permitted by applicable law. Lender shad) be entitled to
<br />¢affect ail expenses incurred In pursuing the remedies provided In this paragraph 19, including, but not limited to,
<br />reasonable attorneys' fees and costs of title evidence.
<br />If the power of sale is invoked, "trustee shall recoru a notice of default in ranch rnunty in sihirh ans part of flip
<br />Property 11 Ideated arid %hall snail copies of such notice in the manner presented Iry applicable I,w to Ilnrnn.pr nail in !hr
<br />other p6rar4n9 pPelCPtlred hV sppidcable law. After rile tittle required by applicame ia,a. I rustee shall t;irp ptlio,e iinhce q f
<br />%Ale to the person% and in ter rrriatowr prrgcr0,v,l Iry :ipplieahle 1j. I'tuatpe, ••.,tiir,ut demand "it iluir,u+er, 0u111 ,ell ih<•
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