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<br />84- 004644
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<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 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 ;';ot Released; Forbearance By Lender Not a Waiver. Extension of Ihe 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 10 extend time for
<br />payment or otherwise modify amortization of the sums secured by this Security Instrumenl by reason of any demandmade
<br />by the anginal Borrower or Borrower's successors in interesl. Any forbearance by Lender in exercising any right or remedy
<br />shall not be a waiver afar 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 shaU bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreements shaU be joint and several. Any Borrower who co-signs this Security
<br />Instrument but does not execute the Note: (a) is co-signing this Securily 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 personallyobligaled to pay
<br />the sums secured by this Security Instrument: and (c) agrees that Lender and any other Borrower may agree 10 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, If the loan secured by Ihis Security Instrument is subject to a law which selS maximum loan
<br />charges, and that law is finally interpreted so that the in;erest 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 pemlitted limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits wiU be refunded to Borrower. Lender may choose to make this refund by reducing the principa.I owed
<br />under the Note or by making a direct payment to Borrower. If a refund redul' principal, the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13, Legislation Affecting Lender's Rig:.ts, If mactmen :, expiration of applicable laws has the effect of
<br />!'endering any provision of the Note or this Security Instrument unenforceable according to its terms,. Lender, at its option~
<br />may require immediate payment in full of aU sums secured by this Security Instrument and may invoke any remedies
<br />permitted by paragraph 19. If Lender exercises this option, Lender shall ,take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14, Notices. Any notice to Borrower provided for in this Security Instrument shaU be given by delivering it or by
<br />mailing It by firs< class mail unless applicable law requires use of another method, The notice shall be directed to Ihe
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shaU 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 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 be governed by federal law and the law of the
<br />Jurisdiction in which 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 shall not affect other provisions of this Security Instrument or the Note
<br />which can be given effect \v"ithour 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 Note and of this Security Instrument.
<br />17, Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any
<br />inlerest in It is sold or transferred (or If a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />person) wnhout Le!'!der's pnor written consent, Lender may, :It its option. require immediate payment in fuB of a!! sums
<br />secured by IhlS Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as of Ihe date of this Secunty Instrument.
<br />If Lender exercISes thIS optIOn, Lender shall gIve Borrower notIce of acceleration, The notice shall provide a period
<br />of not less than 3D days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Secunty Instrument. If Borrower fails to pay these sums pnor to the expiration of this penod, Lender may invoke any
<br />remedies permitted by this Secunty Instrument WIthout further notice or demand on Borrower.
<br />18, Borrower's Right to Reinstate, If Borrower meets certain conditIOns, Borrower shall have the right to have
<br />enforcement (>fthlS Secunty Instrumenl discontinued at any time prior to the earher of: (a) 5 days (or such other period as
<br />applicabk law may specify for remstatemenl) before sale of [he Property pursuarH to any power of sale l:'ontained in this
<br />SecurIty Instrument; or (b) entry of a Judgment enforCing this Security Instrument. Those conditions are that Borrower-
<br />(a) pays Lender all sums which then would be due under 11115 Secunty Instrument and the NOle had no acceleratIon
<br />occlIrred: (b) cures any defauh of any other Ct.wcnants or agreements; (c) pays all expenses incurred in enforcing this
<br />Security Instrument, including, but nor limned to. reasunable attorneys' fees; and (d) takes such action <.is Lender may
<br />reas.onably reqUire to assure that the lien l1( thiS Securuy [nstrument. Lender's nghts I.., the Property and Borro\\t:r's
<br />obligatIon to pay the sums secured by thiS Security Ins-trumenr shall continue unchanged. L:pon remstatement by
<br />Borro\\er. thiS Securlt: Instrument and the l)bligatJoIls ..,ecured hereby shall remalll fully etfective a~ if no aCl.'ekratloll had
<br />occurred. Ho\\'e\er. this fight to reinsuHe ~halI not J.pply ITl the case of J.cceleration under p.-uagraphs I J or 17
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<br />NON, UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
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<br />19, Acceleration; Remedies, Lender sball give notice to Borrower prior to acceleratioll 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) tbe default; (b) the action required to cure the
<br />default; (c) a date, not less than 30 days from ih~ date the notice is given to Bon-ower, by which th~ default must be cured;
<br />and (d) that failure to cure the default on or before the da.te specified in the notice may result in acceleralion of the sums
<br />secured by tbis Security Instrument and sale of the Property, Tbe notice shall further inform Borrower of the right to
<br />reinstate after acceleration and the rigbt to bring a court action to assert the nOll-existence of a default or an)' other
<br />defense of Borrower to acceleration and sale, If the default is not cured on or before the date specified in the noti"e, Lender
<br />at its option may require immediate payment in full of ail sums secured by this Security Instrument without furthcr
<br />demand and may invoke tbe power of sale and any other remedies permitted by applicable law, Lender shall be cntitlcd to
<br />collect all expenses incurred in pursuing the remedies provided in this paragraph 19, including, but not limited to,
<br />reasonable attorneys' rees and costs of title evidence.
<br />If the power of sale is invoked, Trustee shall record a noticc of default in eucb county' in which an) part of the
<br />Property is located and shall mail copies or sucb notice in the manner prescribed by applicable Illw to Horrower and to the
<br />otber persons prescribed by applicable law, After the time required by applicuble law, Trustee shall givc public lIotic" of
<br />sale to the persons and in the manner prescribed by applicable law, Trustee. without demand l)n Burrower, shaH ~l'li tht.'
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