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<br />If the Property is abandoned by Burrower, or if, after notice by Lender to Borrower tha a 0033A R to
<br />make an award or settle a claim for dam'
<br />amages, Borrower fails
<br />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
<br />to the sums secured by this Security Instrument,
<br />whether or not then due. or
<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
<br />paragraphs 1 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
<br />interest
<br />Instrument granted by Lender to any successor in
<br />of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors
<br />Lender shall not be required to commence
<br />in interest.
<br />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
<br />by the original Borrower or Borrower's demand
<br />any made
<br />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 />IL Successors and Assigns Bound; Joint and Several Liability; Co- signers. The covenants and agreements
<br />this Security Instrument shall bind and benefit the successors
<br />of
<br />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
<br />co- signing this Security Instrument only to mortgage, grant and convey
<br />that Borrower's interest to the Property under the terms of this Security Instrument; (b) is not
<br />the sums secured by this Security
<br />Ins personally obligated to pay
<br />accomtrument; and (c) agrees that Lender and any other Borrower may agree to extend,
<br />modify, forbear make any accommodations with regard to the terms of this Security
<br />that Borrower's consent.
<br />Instrument or the Note without
<br />12. Loan Charges, If the loan secured by
<br />this Security Instrument is subject to a law which sets maximum loan
<br />charges, and that law is finally :nterpreted so that the interest or other loan charges
<br />connection with the loan
<br />collected or to be collected in
<br />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;
<br />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
<br />under the Note or by making
<br />reducing the principal owed
<br />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 laws has the effect of
<br />rendering any provision of the Note or this Security instrument
<br />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
<br />paragraph 17. option, Lender shall,take the steps specified in the second paragraph of
<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
<br />use of another method. The notice shall be directed to the
<br />Property Address or any other address Borrower designates by notice Lender. Any notice
<br />first class mail to Lender's to
<br />to Lender shall be given by
<br />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
<br />in this paragraph. to have been given to Borrower or Lender when given as provided
<br />15, Governing aw;
<br />g 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
<br />'.`tote
<br />M
<br />that any provision or clause of this Security Instrument or the
<br />conflicts with applicable law, such conflict shall not affect other provisions
<br />which can be f his
<br />o t Security Instrument or the Note
<br />given effect without the 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 '.Vote and of this Security Instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower.
<br />interest
<br />If all or any part of the Property or any
<br />in it o said or transferred (or if' bcneticiai interest in Borrower is sold or transferred and Borrower
<br />Person) without Lender's
<br />is not a natural
<br />prier 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
<br />federal law as
<br />of the date ofthis Security Instrument. if exercise is prohibited by
<br />If Lender exercises this option, Lender
<br />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
<br />this Security instrument. If Borrower
<br />must pay all sums secured by
<br />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.
<br />if Borrower meets certain conditions, Borrower shall have the right to have
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of. (a) 5 days
<br />applicable law may specify
<br />(or such other period as
<br />for reinstatement) before sale of the Property, pursuant to any power of sale contained in this
<br />Security Instrument: or (b) entry of a ludgment enforcing this Security Instrument. Those
<br />(a) pays Lender
<br />conditions are that Borrower:
<br />all sums which then would be due under this Security Instrument and the Note had no acceleration
<br />occurred: (b) cures any default of any other covenants
<br />or agreements: (c) pays all expenses incurred in enforcing this
<br />Security Instrument, including, but nor limited to, reasonable attorneys' fees: and (d) takes such action as Lender
<br />reasonably require to assure that the hen of this Security
<br />may
<br />Instrument, Lender's rights in the Property and Borrower's
<br />obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by
<br />Borrower, this Secant% Instrument and the obligations
<br />secured hereby shall remain fully effective as if no acceleration had
<br />occurred. However, this right to reinstate shall nrr apply in the caseet:acaeleratioriunder
<br />paragraphs 13 or 17.
<br />Note- U,41FORM COVENANTS. Borrower
<br />and Lender further covenant and agr, a as follows:
<br />19. Acceleration; Remedies. Lender shall give notice to Bbtfttwer
<br />breach
<br />prior to acceleration following Borrower's
<br />of any covenant or agreement in this Security Instrument (but not prior to acceleration
<br />unless applicable law
<br />under paragraphs 13 and 17
<br />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
<br />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 s
<br />secured by this Security Instrument and sale of the Property. The
<br />notice shall further inform Borrower of the right to
<br />r
<br />reinstate after acceleration and the right to bring a court action to assert the non - existence of a default
<br />defense of Borrower to acceleration
<br />or any other
<br />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
<br />demand and may invoke the
<br />without further
<br />power of sate and any other remedies permitted by applicable law. Lender shall be entitled to
<br />collect all expenses incurred in pursuing the remedies
<br />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.
<br />Trustee shall record a noticc of default in each county in wtiicti an, part of the
<br />Property is located and Shan mail copies of such notice in the manner prescribed by
<br />other persons
<br />applicable law to } ; „rn >wer and to rbc
<br />prescribed by applicable law. After the time required by applicable law, T'nlstce shall rive• public nittto of
<br />sale to the persons and in She manner prescribed h} applicable law, 'prustec,
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<br />wiihour demand 1111 11111'ri%e
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