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85- 006 3 Q 7
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offer; m, ",
<br />make an award or settle a claim for damages, Borrower tails 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 riot be required to commence proceedings against any successor in interest or refuse to extend time for
<br />pavmeve r otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made
<br />by the originai Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy
<br />shall not he 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 Secunry 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 bejoint and several. Any Borrower who co -signs this Security
<br />Instrument but does nut execute the Vote: (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 pav
<br />the sums secured he ;his Security instrument: and (c) agrees that Lender and any other Borrower may agree to extend,
<br />modtfy. forbear or make any accommodations with regard to the terns of this Secunty Instrument or the Note without
<br />that Borrower's consent.
<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 law ;s anally interpreted so that the interest or other loan charges collected or to be collected in
<br />cannecnon with the loan exceed the permitted limits. then, (a) any such !oar, :):3rge shall be reduced by the amount
<br />necc-ssary to reduce the charge to the permitted limit; and tb) any sums alrc3dv collected from Borrower which exceeded
<br />permitica limns 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 Vote.
<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 Secunry Instrument unenforceahle according to its terms. Lender. at its option,
<br />may require immediate payment in full •:,f all sums secured by this Secunty instrument and may ! nvoke any remedies
<br />permitted br paragraph ly. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of
<br />paragraph I,
<br />14. Notices. Any notice to Borrower provided for in this -Security instrument ;hall he given by delivering it or by
<br />marling it be 'first class mail unless ;applicable law requires use of another method. The notice ,hall be directed to the
<br />Proper :Address Or ally ,.,!her address Borrower designates by notice ut I-tomi •r Anv notice r: Lender ;hail be Eiven by
<br />first class mail !o Lender's address stated herein or any other address Lender designates by notice to Borrower Any notice
<br />prov!dcd rite in this Ser unty Instrument shall he c rimed to have been given :o Borrower or Lender when given as provided
<br />!n this paragraph.
<br />15. Governing caw: Severability. This SeCUfity Instrument :hall he zoverncd i,% federal law and the law of the
<br />;unsd:cnor. in -rich the Propern as ;orated In the even( 'hat anv pr—iuon or c!ause of this Secur.!v lo,trument or the
<br />`cue conflicts with .applicable law, such .nnrllct ,hai! my affect other prrvis;oris r ;l this Sccun!y Instrument or the \:,!e
<br />which can he even effect without the con tli,tm pr,iyicien Tr !his !nil the orw,!sions ,if thus Securer: Instrument anti the
<br />Note ;ire declared io be se%erahle
<br />16. Borrower's Copy. Bcirruwet ,hail be i n%cr, one_ conii,rmed cop) •,f'he N,,te grid rd tins Secant: ►ns!si:mrnt
<br />1 7. Transfer of the Properly or a Beneficial Interest in Borrower. ll .ail .',r anti part ,t lfic P operi% nr any
<br />interest in it is sulc or transferred (or if a tcncncial interest :n Borrower n v,id ,r transferred and &,r.uwt .s not a natural
<br />peru)nt without Lender's pour written s :ollserit, lender may, at its -peon. ri.quire :rnrned::are payment :n full ,4 :111 gums
<br />secured by this Security Instrument 1 olXC%t.r. this 'ptUr' ) al: na)t he c.ler;:sed he I. cndcr i lee ;,C , rtilhlhlteJ h�
<br />federal law as:,f the date -dthis r<. :nr. 1 ;sirmr,eitt
<br />If Lender exercises h:, option. i- •r der snail grc Born tr- m,t I ::c i a ,m Flit: •: a•cc dial: rn,de a per:.,(,,
<br />of not less :har 0 days froal .•:c !a.t .;:r •t.it.rr :, r :erred .:i ..wised aatr..iaw •u, .: lies- wcr mu,t pal, all star., s"urea',v
<br />This Security Instrument 11 Borrower fails i�, ray'hc,r. Burns prior !c the rlpiritu,n A This ; rnc,d. Lender may u:voke an.,
<br />remedies pernaitre;l by !his Secsnty lnsir: amen! wat,^,cut'urrher notice or ile ^t,an,i nn R,rrpaer
<br />1A. Borrower's Right to Reinstate. If lit.rr :,wer mwels certam cond!iwns. Borrower ,hail have -he r!eht r.; hair
<br />rnr`cir emcn; • f )sn Sec ant, L.,tnanen! i,crn ;in,.rcS : ! in., n:e 'he earlier .�f -ai ` days r such :,the. per:nd s
<br />apphcabie law may ,pe,:Oy '!O einsiatcment! hcf',re ,air of the Pr peri} pursuant to anv power of ,ale rontaincd in this
<br />Sccurtt,. Insarurrent. :r , hi mn r, .f . .i ;i,lmcnt !ran Se:uriiy In'rnament Th,,,c .ondlmons arc chat Bco-r'i,wer
<br />ta) pays f -ender al! ,urns which then could be duc under thus Secunn instranicnt and the Note )tad no acceleration
<br />;n.'curred !i,.) cure, at: d la.ait 4 any tic lnls •r igreement 'c) Pais .all elprn,es :nu,rred in enforcing, !hi,
<br />�ccurtty instrument. an :,u9tou, 1, .) >t ;rrnn:. To. ,.usonahie a!t,'rne„ "!!` in(] id) skis such action as Lender 'na%
<br />reasitnabiv require r as,rir•t 'hat 'fit: lira .J :fin Srctin!: lristrurner!!. Lender, ivhis in the V.-Pert., and Bixr"wc•r',
<br />•>hligancm , pav the sums ,rcurcd 'tit, semi, In,vumer.t .hall ion :roue uro :hanged 1:p„n rentsraternenr n,
<br />Borr,wcr, !ems Security lnsrrumcnt and the i,hiilarori, ,rcurcd hcrche •.haul re•ncua tulle -Tt"e :ve as it'no acc.leratuon `tai
<br />(,ccutrr_d lli,we.e :.:htsnVillt„ eon:; Zare,h.alii :,�rwplsnn 'fie
<br />�a,e "f c�Jc =arr,n.. !. oils r,rhs1',,r
<br />NON NW)RUfenvt:4A41'S Borrower and 1. ender 'urt her co%enant and aKreeasiolk,ws
<br />19. Acceleration; Remedies. lender shall Rive 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 />ueleas applicable law provides otherwise). The notice -hall specifv:'a) the default; obi the action required to cure the
<br />default', (e) a state, not less than 30 days from the date the notice is given it) Borrower, by which the default must be cured:
<br />until (d) that failure to cure the default on or before the date specified in the notice may result in Acceleration if the sums
<br />secured by this Security fnstrument and sale of the Property. The notice shall further inform Borrower of the right to
<br />yrg
<br />L. reintate after acceleration and the right to bring a court action to assert the non-existence of s default or any other
<br />def"m
<br />e $
<br />of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender
<br />;t
<br />at its option may require immediate payment in full of ail sums secured by this Security Instrument without further
<br />1J�
<br />dirmaad and may invoke the power of sale and any other remedies permitted by applicable law• lender shall be entitled to
<br />�l
<br />collect all expenses incurred in pursuing the remedies provided in this paragraph 10, including, hilt not limited in,
<br />;
<br />reasonable attornevs' fees and costa of title evidence.
<br />If the power fit -ale is invoked. Trustee shalt record a notice tit default in each count, in which any part :if the
<br />Property it howated And shall mail copies of such rontice in the manner prescribed b+ .appheabie law in liurtnwrr .ind to the
<br />other pervrns prewcribrd by applicable la>r. After the time requirrtt by appbeahlr iaw, buster ,half t;t,e piibli, meter •tf
<br />%sit rn the prrsesne and :n thr manner pri•wribed by AttpiicAbly 1414 1 tr,tr +rthnur ;irrnanJ .:a cline ,w, r. all ,iii ilia
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