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<br />85- 003389
<br />If [he Property is abandoned by Burrower, or
<br />make an award or settle if, after notice by Lender to Borrower that the condemnor offers to
<br />!e 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 appiy 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 tine sums secured by this Security Instrument by reason ofany 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 ofor 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. Ifthe loan secured by this Security Instrument is ,ubject to a law which sets maximum loan
<br />charges, and that law is finally mterprereci se 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 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 —;[I 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 Secunty 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 14. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of
<br />paragraph 1.
<br />14. Notices. An notice to Borrower provided for in this Serum: lnstrument shall be given by delivering it or by
<br />mailing it c tlrst class r.a,i .:"less ;,pplicable law requires use of another method. The notice shalt 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 to this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />IS. Governing Law; Severability. 'This Security Instrument shall he governed by federal law and the law of the
<br />jurisdiction in which the Property is located. In the event that anv 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 />w hich can be 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 />Ib. 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 , r any part of the Property or any
<br />interest to :t is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />Person) wuhoui Lender's prior written consent. Lender may, at its option, require immediate payment in full of all sums
<br />secured by this Securtc Instrument however, this option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Secur m Instrument.
<br />If Lender exec -tses this option. Lender shall give Borrower notice of acceleration. The not shall provide a period
<br />of not less than ?G datis 1 om the date the notice is delivered or mailed within which Borrower must pas all sums secured by
<br />this Secunty Instrument- If Borrower fails to pay these sums prior to the expiration of tilts period, Lender may invoke any
<br />remedies permiued he this Security Instrument without further notnec or demand on Borrower.
<br />16. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have
<br />enforcement ,fill's Secant} Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as
<br />applicable ,aw may F r .f;; r, r : Erisi31erneno before sale of the Prt. periv pursuant to any power of sale contained in this
<br />Sccurtt;r Instntmcn or bt E t t a udLrient enforcing this Security Instrument. Those conditions are that Borrower.
<br />(a) pays Lender a1 .ums wn; ten would be due under this Security instrument and the Note had no acceleration
<br />occurred. 1b) cure. n, itt!auit ,f ,:;v other cnenants or agreements; ic) pays all expenses incurred to enforcing this
<br />Security 1115trnnlCnf. includ, :M7_ tut not ;united to, reasonable attorne} s' fees; and (d) takes such action as Lender mac
<br />obligation require to assure that the lien of this Jecurity Instrument. Lender's rights to the Property, and Borrower's
<br />obligation to pay the sums ,c tired
<br />$orrower hES by this Secuncontinue ty Instrument shall continue unchanged. Upon reinstatement h%
<br />;rc InsE rent arc: ttic zoiisat :n s
<br />n. secured 'hereby snail remain Cully effective as if i:o : �:elera c.i had
<br />recurred slow r.e h s igi to r, ins :a,,, sn..11 n „t apply in the case it acceleration under paragraphs 13 ,?r I'
<br />N')N- UNIF0R%1 C:oyENAN7.S Borrower and Lender further covenant and agreeas 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 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 this Security Instrument and sale of the Property. The 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 entitled to
<br />collect all 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 record a notice of default in each county in which any part of the
<br />Property is located and shall mail copies of such notice in the manner prescribed by applicable law to Borrower and to the
<br />other persons prescribed by applicable law. After the time required by applicable law, Trustee shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell the
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