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5-: §5�
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower 001 t at t e 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 />given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or
<br />to the sums secured by this Secunty 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 Z 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 not 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 any demand made
<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 ofany 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 -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 not personally obligated to pay
<br />the sums secured by this Secunty Instrument and (c) agrees that Lender and any other Borrower may tgree 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 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 he refunded to Borrower. Lender may choose to make this refund by reducing the principal owed
<br />under the 'Vote 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 law, has the effect of
<br />rendering any pro% islon of the Note or this Security Instrument unenforceable according to its terms, Lender, a[ its opnon,
<br />may require immediate payment tit full of all sums secured by this Security instrument and may invoke anv remedies
<br />permitted by paragraph 19 if Lender exercises this option. Lender shall take the steps specified in the second paragraph of
<br />paragraph I-
<br />14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by
<br />matlmc a by first ,lass trail unless applicable law requires use of another method. The notice shall be directed to the
<br />P7OPert` Address or any ether address Borrower :lesignates by notice to Lender Any notice to Lender shall be given by
<br />first cuss mail !o Lender "s address stated herein or any other address Lender designates by nonce to Borrower. Anv notice
<br />rrtnided for in !has Security Instrument shall he dcernect to base been green to Borrower or !_ender when given as provided
<br />in this paragraph
<br />15. Governing Law; Severability. This Secunty Instrument shall he governed by federal law and the law of the
<br />'unsdicnon :n which the Property is located in the event that any provision or clause of this Security Instrument or the
<br />N.'te conflicts with .ipplicaolr law, such conflict .hail not affect other provisions of this Security Instrument or the Note
<br />which :an he gryen effect without the 1onf1ict;ng provision F,' this end the provtsions of this Security instrument and the
<br />Note are declared to be sever able
<br />16. Borrower's Copy, Borrower shall he erven Mme anlorrned _o of the Note and of this Security Instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. It ail or any, part of the Property or any
<br />interest :n it is sold or transferred (()r if a henencial interest in iorrower a .old r transferred and Borrower is not a natural
<br />person) without Lender's pnor written :i nsent, tender may, at its vion.require immediate payment in full ofall sums
<br />secured by this Security Instrument However, this option shall n,it hr r.vercised by Linder if exercise is prohibited by
<br />federal law as of the date of t his Securuy Instrument.
<br />If Lender exercises this option, Lender shall give Borrower nuticr .;i acceleration. The notice shall provide a period
<br />of not less than 30 days from the date the nuuce is deil%cred or marled within which Borrower must pay all runts secured by
<br />this Security Instrument If Borrower tails to pay these sums prior to the expiration of this period, Loners may invoke anv
<br />remedies permitted by this Security instrument wuhout further nolicc or demand on Borrower
<br />18. Borrower's Right to Reinstate. if Borrower meets ccrtain conditions, Borrower shall have the right to have
<br />enforcement of this Secunty instrument discontinued at anv time pnor lo the earlier of 'a) days for such other period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale ecauainrd in the
<br />Security Instrument. �,r 1h) entry of a judgment enforcing this Security Instrurnent. Those conditions are that Borrower
<br />(a) pays Lender all cams which then would he due under this Security Instrument and the Note had no accelcranon
<br />occurred, fb) lures any default of any other covenants or agreements, (c) pays ,ill rtpenses incurred m entiircing this
<br />Security Instrument, it n ,sure but not limned to, reasonable atmrneys fees. and (d) takes such action as Lender may
<br />reasonably require ;n issuer that the lien of this Security Instrument'. Lender's rights in the Property and Borrower's
<br />obligation to pay the sums secured by this Secunty Instrument shall rrnnmie unchanged Upon remstatentrnt Fn
<br />Borrower, this Secunty instrument and the obligations secured hcreh% shall rtmiam fu11y crfective is if no actele•ranon his.;
<br />occurred linwever. %his right to reinstate shall not apply in the case qf a_o.ler.inon under paragraphs I? rr I?
<br />Nr)N- UNIFOatit COVENANTS Borrower and Lender further covenanr and agree as follows
<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 />unless applicable law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure 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 />and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums
<br />secured by this Security Instrument and sale of the Property. '['he notice shall further inform Borrower of the right to
<br />reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any other
<br />defense of Borrower to acceleration and 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 />demand and may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be rnttticd ter
<br />collect all expenses incurred iti pursuing the remedies provided in this paragraph 19, inciudintl, but not limited to,
<br />reasonable attorney s' fees and costs of title evidence.
<br />If the power of sale is involted, I'ruste•e shall record a nuuce of default ioi eeeti county ire »bleb anv )rant ..t the
<br />ether rty is located riff shall malt capers of such notice in the manner prescribed bs ahpncahir Inca to Ruir„v,er anti to the
<br />ether persons preserihetJ by applicable law. liter the time required by applic :eblc law, IrustvI. shall give pufilic nnhrr r
<br />self to then perrsuus ,end in the rnanaer ttresrrdlied by applicable, law 1 nistre. wuh,�en drniand •m Hnrin� +rr. 'flail sill ih,
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