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If the Property is abandoned by Borrower, or if, after notice by 00234
<br />Lender to Borrower that the 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 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 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 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 be joint 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 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 the permitted limits, them (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permitted limit: and Ib) 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 Vote or by making a direct payment to Borrower. If a refund reduces principal. the reduction will he treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislation Affecting Lender's Rights, If enactment i:r 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 ly. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of
<br />paragraph l'
<br />14. 'Notices. Any notice to Borrower provided for in this Security instrument shall lie given by delivering it or by
<br />mailing it by first :lass trail unless applicable law requites 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 Secunty Instrument shall he deemed to have been given to Borrower c)r lender when k.iven as provided
<br />in this paragraph.
<br />15, Governing Law; Severability, This Secunty instrument ,hail lie governed by federal law and the law of the
<br />,urisdiction 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 not affect other provisions of this Security Instrument or the Note
<br />which can be 4iven effect without the ;:onflicting provtsirni. 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 rot the ;Vote and of this Secunty instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If All ar any part of the Property or :any
<br />interest in it is sold or transferred for if a henelicial interest to Borrower is ,oid or transferred and Borrower is not a natural
<br />person) without Lender's prior written consent, Lender tray. At its option. require immediate payment in full of all sums
<br />secured by this Security instrument However, this option shall not he exerclsed by [..ender if exercise is prohibited by
<br />federal law asof the date of this Security Instrument.
<br />If Lender exercises this option. Lender shall give Borrower nonce otacceleration. The notice shall provide a penod
<br />of not !ess than `10 days from the date the notice is delivered 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. Lender may invoke any
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower.
<br />18, Borrower's Right to Reinstate. if Borrower meets ..crtain , ondiuons. Borrower shall have the right to have
<br />er.farcernent n; ihis ecunt% irr trunient discontinued At :ins time ;-.nor to I bt! carIier :)i ia) days (or such ether period as
<br />sppiicabfc law may spccity for reinstatement) hefirc sale of the Proper-1%, ,narsuanl to any ,owcr of sale ronwined in ,tits
<br />Security Instrument, or ih) cntry of a judgment enforcing ihis '�eruritc hisirurncni 'T'hose :onditiom are. that Borrower
<br />ia) pays Lerider ail <ums which then would be due under this Security Instrument and ;tic Vote had no acceleration
<br />occurred, ihi .:ures An v , delault if any other covenants tr agreements. ` :J ;its all expcnses incurred ;n enfor'cuiti tits
<br />Sccunty Instrument, :ncludhrrg, but ;lot limited to, reasonable attorneys 'ces: and full tikes such action as Lender in:n
<br />reausnably rec;wrc fo issurc that the lien ..N this Security lnstrinnen;, t.cnder's i:ghts in ncc Property and Borrower's
<br />•)6ligation to pay the sums secured by this Security Instrument hall continue anihangcd I_'pon r,nnsI (cmcnt ic
<br />W)rrower. this Secunty Instrument prod] the t aii rem urn (ul ;c �fl'rr :;seas if i;o a:eelciautm !,alt
<br />ccisrred llcwever, this right to reinstate shall not appiv ui =h . ivase „i i n „n :end: pant rapes ; .,r 1
<br />NON- UNIFr)RM COVENANTS Borrower and Lender further, ovenant and agree As toilows
<br />19. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's
<br />britnuch of any covenant or agreement in this Security instrument (but not prior to acceleration under paragraphs 13 and 1”
<br />unless A#Wkabk law provides otherwise). The notice shall specify: ia) the default: !hi 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 be 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 thillo Security Instrument and sale of the Property. The notice shall further inform Borrower ,if the right to
<br />eel to after acceleration and the right to bring a court action to assert the non•eaistenee of a default or any other
<br />der of Borrower to acceleration and sale. If the default is not cured on or before the date cpecitied in the notice, I.cnder
<br />at its opinion MMV require immediate payment in full of all sums secured by this Security instrument without Further
<br />dents" nuilt may invoke the power of sale and any other remedies permitted by applicable Saw. I.cnder shall he entitled to
<br />collect 111 eape incurred in pursulnp the remedies provided in this paragraph 1N, including, but not limited :o, 1
<br />t a attorneys' ( . and costs of title evidence.
<br />If the power of sale i♦ Invoked. Freud" tihall record a notice of default in each enuaiy to which am ,fart it the
<br />Property is located and shall snail copies of tiuch notice in the manner prefacribxd It% .ipplicable IAw i„ Ilm rower And for rhr
<br />'011litiry raoaaa pre tit e$ f)y applitahle law, After the. time itrquired by Applicable i.iw, I tmtev % haail hill• tisihlic notecr .�t
<br />ease Orr the POMOIS : anal in the ietanner p"Wriha*d by Applicable law. 1rer4tee, wtiht,ot ilenaand m "ort —vr. *lcatl +oil 1:u t
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