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If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower tha the 002015 offers to
<br />make an award or settle a claim for damages, Borrower
<br />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
<br />restoration or repair of the Property or
<br />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 1 and 2
<br />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
<br />secured by this Security Instrument granted by Lender to any succsor in
<br />interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. es
<br />Lender shall not be required to commence proceedings
<br />against any successor in interest or refuse to
<br />payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of an extend time for
<br />a nd made
<br />y demand by the original Borrower or Borrower's successors in interest.
<br />Any forbearance by Lender in exercising any remedy
<br />shall not be a waiver of or preclude the exercise of any right or remedy. right
<br />11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. agreements
<br />this Security Instrument shall bind and benefit the
<br />successors and assigns of Lender and Borrower, subject o he provisions
<br />of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co -signs this Security
<br />Instrument but does not execute the Note: (a) is
<br />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)
<br />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 loan
<br />other 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
<br />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 by
<br />refund 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
<br />charge under the Note.
<br />13. Legislation Affecting 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,
<br />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
<br />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
<br />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
<br />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 to Borrower
<br />given 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
<br />provision or clause of this Security Instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the dote
<br />which can be given effect without the
<br />conflicting provision. To this end the provisions of this Security Instrument and the
<br />Note are declared to be 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
<br />in Borrower. If all or any pan 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
<br />. may, at its option, require immediate payment to 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
<br />or mailed within which Borrower must pay all sums secured by
<br />this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, i er:dcr may tnyol.e any
<br />remedies permitted by this Security Instrument
<br />without further notice or demand on Borrower. Y
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower
<br />shall have the right to have
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days for such other period as
<br />applicable law may specify for reinstatement) before sale of the Property to
<br />pursuant any power of sale contained to this
<br />Security Instrument; or (b) entry of a judgment enforcing this Securely Instrument. Those conditions are that Borro%%cr
<br />(a) pays Lender all sums which then would be due
<br />under this Security Instrument and the Note had no acceleration
<br />occurred; (b) cures any default Of any other covenants of ;rt;reednCdaf�; (`) pays Al expenses incurred in enf,lrLing tl1B♦
<br />Security Instrument, including, but not limited
<br />to, reasonable attorneys' ties; and (d) takes such action as Lender 6tia<
<br />reasonably require Ica assure that the lice of this Security instrument, Lender's rights in the Property and l3lNTl)aer ,
<br />obligation o pay the sums secured by this Security
<br />Instrument shall continue unchanged. Upon reinstatement by
<br />Borrower, this Security Instrument and the obligations secured hereby .hall rernain fully
<br />effective as if no acceleration haci
<br />occurred. However, this right to reinstate shall not apply in the case of acceler:atrun under paragraphs 1 ?car I'
<br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant 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
<br />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
<br />action required to cure the
<br />default; (c) a date, not leas than 30 days from the date the notice is given to Borrower, by which the default must be cured;
<br />and (d) that failure to cure the default on or before
<br />the date specified in the notice may result in acceleration of the sums
<br />soured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to
<br />L reinstate after acceleration and the
<br />right to bring a court action to assert the non - existence of a default or any other
<br />defense of Borrower to acceleration If
<br />01
<br />and sale. 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
<br />without further
<br />demand and tray invoke the power of sale and any other remedies permitted by applicable law. Lender shall he entitled to
<br />coileet all expenses incurred In
<br />�
<br />pursuing the remedies provided in this
<br />reasonable attorneys' fees and costs of title evidence. P paragraph 19, including, httt not limited t�►,
<br />�I
<br />Via?
<br />If the power of sale Is invoked, 'Trustee shall record a notice of default in each county in which any part of the
<br />Property is Dated and shall mail copies of such n,atice in the Manner by
<br />presr.rihcd applicable law to ll, ►mower :and ts+ the
<br />other persona prescribed by applicable law. After the time required Fay applicable low, Trustee: shall gi%e public nlatic°e +f
<br />sale to the peraraoa and in the
<br />manner presiriba.d by applicable la1A, 1'rurtar, witherut (fernaml ml IlollmArr. %haall wall the
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