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6--`w 0052,49
<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 />to the sums secured by this Secunty 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 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 Secunty 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 Secunty 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', !onsent.
<br />12. Loan Charges. If the loan secured by this Security Instrument is suhiect to a law which sets maximum loan
<br />charges, and that !aw 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, 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 ::ollected 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 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 Secunty Instrument unenforceahie according to its terms, Lender, at its option.
<br />may require immediate payment In full of all Sums secured by this Secunrc Instrument and may invoke anv remedies
<br />permitted by paragraph 10 If Lender exercises this option, Lender shall take the steps spec:fied in the second paragraph of
<br />paragraph 1'
<br />I4. Notices. Any nonce to Borrower provided for in this Secunty instrument shall he given by delivering a or he
<br />rr.ailir.z it by fire ,lass mail unless applicable law requires use of anoihrr method. The notice ,hall Lie directed to the
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall he 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 />prnvrded ter In this Security Instrument shall he deerned to have peen given to Borrower nr Lender when given as provided
<br />in this paragraph
<br />15. Governing Law: Severabiiity. This Security Instrument ,hall he Governed t,v federal law :ind the law of the
<br />lunsdicrion m which the Property is located. fn the rv'enl that any provision or _lause of this Secunty instrument i r the
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or :he Notc
<br />which can he Given effect without the conflicting pro,, ision To 'his end the nro, isiom of this Secunty instrument anc! the
<br />Note are declared n, he severahle.
<br />16. Borrower's Copy. Borrower sh..il be given one :ontorrned :>pv ,f the Note and of this Se:ur*t% ins :rumens
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. if ail or any par; of !hr }'re,perty or any
<br />niterest to it Is sold .,t iransferred ! )r if a henclicrai :merest in Borrower is soid or transferred and Borrower is not a natural
<br />person) without Lender',, prior written consertt, lender may, at its option, requrr:• immeruile payment in fu!1 ,,t Lill runts
<br />,ccured by this Secunty Instrument. However, this option shall not he e.xer�Larci nv i.cnder :t exercise , P n,inhtrt•d by
<br />federal law as ofthe dare of this Security Instrument.
<br />If Lender exercises this option. Lender shall zivt: Borrower notice of aCCeiera:I•.,ri t he r,cittCt- �11adi ;110vlde !a perlod
<br />otnnt less than 10 days from the date the nonce a deirvered or marled w ithin which Horir•wcr roust pay ::il ,isms secured by
<br />!!as Secunty lnstrumertt- If Borrower fails to pay Ihesc,uins prior to the c�jmar „n .,i !his period. Lender may m%,ike any
<br />,-*medics permitted by this Security instrument without further notice or ric•mand ,n Iiorower.
<br />i8. Borrower's Right to Reinstate. It Borrower meets::ertain c:+ndrnnu, liorro%er,hail have 'he right t„ ha.e
<br />entorcrme:tt of this Security Instrument chsconunued at any time pour to tiw Garner of ra) ` days )or ,ach other pero,l .:•,
<br />applicable law may ;peaty for reinstatement ) hef1 sale of the }'n,per'ty pur.u:an: !,; an} power •:J sale :,mt:uned :n tin•,
<br />securuy ln,irurient .,r (h) entr- » a ;udgment ertforcind this Sc: l:,-11% Instruniew 1hosc 'Induioris ;:r,- !hat l3wr;•w ;•r
<br />pal pats Gender Al ,unu which then would he :fur under tie, Secure, ln,rrutnCnf and the Note fiad nu sceclerau,>n
<br />occurreci. Oro ere, air, de!fauit c,t any other coienanr, or wfeernene. _ ,,ay, all cx;,cr;e. !nrirred if! grip ,r:nu! :hr,
<br />Secunty In;:runtent. tncludir.0 but not limited to, reavmahic art,wnccs !, -es and id) t;akrs inch ae:a,n •:, i :•ndcr tins
<br />tens „Wahl} :equnc t,, assure That the hen .11 the, Seeun{y ins:runicn!. Lender, rights in the Property and I3017111ic: ,
<br />hhg:ounn ?n r :hc ',urns secured by !lu Secunty L,slnn:,cn .hail ;.•nnnue r,nchanged t_'pon
<br />} +,tr +k •.r i•r:..;:+n in,rr ;nient and the• ,r)hvatirn• -r ;tit, °i hens qn r rrrralrt'uH., effect!ve as it no.tc clrrane,n
<br />„e:<i Fly tic. _ 'his right to nnns:.:uc• shall nit ,ip,pty ,n Ihc, I,,, it a,, - rau,,t .•,der p,ar:rcra(ih•. ` rr 1`
<br />[tri l "AN IS Horrower and Leader turther covenant and :!grve as foiloix,
<br />19. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Horrower'+
<br />breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under paragraphs 13 and 1
<br />unless applicable law provides otherwise). The notice shall specify: cal the default; (b) the action required to (,tire the
<br />default; (c) a date, not lest; than 30 days from the date the notice is given to Borrower. by which the default must tic cured:
<br />and id) 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 Horrower of the right to
<br />reinstate after acceleration and the right to bring a court action to assert the non- e•aistvnce of a default or any other lit,
<br />defense of Horrower to acceleration and sale. If the default is not cured on or before the date specified in the notice. Lende-r
<br />at its option may require immediate payment in full of all sums secured by this Security Instrument without titriher
<br />demand and may invoke the power of tale and any other remedies permitted by applicable law. bender shall he entitled io '.
<br />collect all expenses incurred in pursuing the remedies provided in this paragraph 19, includink, but nor limited tit, '
<br />reasorrahlc attorateys' fees and costs of title evidence..
<br />If the puwrr ni sale is tnvnked, truster shall record a rioike „I default in rash rauno u, which an parr art the
<br />1'rnperta :s hµ:,efrrl irrrd shall mail copies ;-f such notice in the mariner prr•scrrbcri h1 atipiu'::hil law t:; ht, =rnnw, :rlid !•, !h,
<br />„thcr per.nr, •, prr•,rrilivd hq uppiir:ahle law. Aftvr the• time required h, ,ippl,cabie, law. T!u;,I,, ,hail p:!” public ,,stir •I
<br />r, -w. ami In rhr manner hresrrilled It% appliralihe Iaw i I w,h i W 101! -Ill 4, tn,md • n li.,, r:,,,., :n,
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