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gg.... 004645
<br />If the Property is abandoned by Borrower, or if, after notice by 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 />tothe 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 l 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 riot 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 forbca ra ace by Lender in exercising any right or remedy
<br />shrill not be a waiver of or preclude the exercise of any right or remedy.
<br />Ill. 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 i7 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 it: 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. U 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 ether Ivan 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 dote 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 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 payrn_nr vi full of al! sums secured by this Security Instrument and may invoke any remedies
<br />r ermined by paragraph I'+. if Lcndrr exercises this option, Lender shall take the steps specified in the second paragraph of
<br />paragraph 1'
<br />id. Notices. Any notice to Borrower provided for in this Securttv Instrument shall be given by delivering it or by
<br />mailing tt by first ,lass marl .riles :wrlocahle law requires use of another method. The notice shall be directed to the
<br />Proper?., 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 Security lastrument shall he deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph
<br />15. Governing I aw :.Severahility. This Security instrument shall be governed by federal law and the law of the
<br />jurisdiction :n uh:ch 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 shail not attest other provisions of this Security Instrument or the Note
<br />which can he etven effect without the conflicting provision. To this end the provisions of this Security Instrument and the
<br />No.tearederlacrd ,., ^c instal !r
<br />16. 1lerrro,,vr's Copy, I{ ,irower shall he grveu one confirmed ropy of the Note and of this Security Instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. if :ill or any part of the Property or any
<br />interest in n ,, sr•I,i r n mi,f4•rred (,�r if a herelicial interest in Borrower n sold or transferred and Borrower is not a natural
<br />person) without Lender's prier written consent, Lender may, at its option. require immediate payment on full of all sums
<br />secured by this Secunty instrument However, this option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as of the dcue of this Secunty Instrument.
<br />if Lender eier_;s this oroon. Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than ?0 dais ti,wn the elate the notice is delivered or marled within which Borrower must pay all sums secured by
<br />this Securtt: Insttuniew 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 nonceor demand on Borrower.
<br />18. Borrower's Right to Reinstate. If Borrower meets ceriair, conditions. Borrower shall have the right to have
<br />enforcerient of chi. Securir. Instrument discontinued at any tittle prior to the earlier of: !a) 5 days (or such other period as
<br />art hcablc law ma•, srecrty l or reuostatcnten1) before sale of the Property pursuant to any power of sale contained in this
<br />Sccurtty Instrument or chi entr. of a judgment enforcing this Security instrument. Those conditions are that Borrower:
<br />(a) pays Lender all .unis which then would be due under this Secunty Instrument and the Note had no acceleration
<br />occurrc& (b) :ures ails default it' arty other covenants or agreements: (c) pays all expenses incurred in enforcing this
<br />Sccunty (nsrrunie it, includine, but not lonnited to, reasonable attorneys' fees: and (d) takes such action as Lender may
<br />reasonable require to assure titan, the lien of this Security instrument, Lender's rights in the Property and Borrower's
<br />•)bhgauon w. r ; ;s ohm suns sr.•cured by this Security Itstrument shall continue unchanged. Upon reinstatement by
<br />Borrower, t!•is ter. nr.r, lnsnuroeatt and the obligations secured herehy shall remain fully i4ectme as if no accelcrauon had
<br />,-ccurred Il,owc: ei. th;s nrht r t cnntete shalt art apply to the case �Jacceleration under paragraphs 13 or 17.
<br />tirtti Borrower and 1. ender further coycnant and agree as follows:
<br />19, Acceleritioo; 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 />Isles applicable low provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the
<br />default; Ic) a date, not te•ss than 30 days from the date the notice is given to Borrower, by which the default must be cured;
<br />sod (d) that failure to core the default on or before the date specified in the notice may result in acceleration of the sums
<br />L stewed by this Security Instrument and sale of the Properly. The notice shall further inform Borrower of the right
<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 suers secured by this Security instrument without further
<br />demand and may Intake the power of sale and any other remedies permitted by applicable Iaw. Lender shall be entitled to
<br />collect all expenses incurred in pursuintl the remedies provided in this paragraph 19, including, but not limited lo.
<br />reasonable attorney's' fern and costs of title evidence.
<br />If the pawrr of vase is invoked. Trustee shall record a notice of default in each county in which any part of the
<br />Property it located and shall mail copies of such notice in the manner prescribed by applicable law ra Norrower and to the
<br />tither persons pre5rr the" its applicable law. ,after the time required by applicable law. I ruslee shall Rite public notice of
<br />sale to the persons and in the manner prescribed by applicable paw, 7n,stee, without demand on Borrower, shall sell the
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