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<br />84---' '
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<br />005168
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<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that Ihe 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 Ihe notice is
<br />given, Lender is authorized to collecl and apply the proceeds, at ils option, either to restoralion or repair of the Property or
<br />to the sums secured by this Securily Instrument, whether or not then due,
<br />Unless Lender and Borrower otherwi'e agree in writing, any applicalion of proceeds 10 princi~;ll shall not extend or
<br />postpone the due date of the month:y payments ref.erred to in paragraph$ 1 and 2 or change the ~!!!ount of ~'.!ch payments.
<br />10, Borrower :-.lot Released; Forbearance By Lender Not a Waiver, Extension of the time for payment or
<br />modificalion of amortization of Ihe sums secured by this Security Instrument granted by Lender to any successor in
<br />10terest of Borrower shall nol operate 10 release the liability of the original Borrower or Borrower's successors m 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 nol 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 10 the provisions
<br />?f paragrap~ 17, ,Borrower's covenants,and agreements shall be joint a~d several. Any Borrower who co-signs this Security
<br />Instrument out uoes nOi execute the ~~ote: (a) is CO-Signing thiS SecUrity Instrument only to mortgage, gran! a,.qd convey
<br />that Borrower's Interest 10 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 wlth regard to the terms of this Security Instrument or the Note without
<br />thai Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Security Instrument is subject 10 a law which sets maJtimum loan
<br />charges. and that law is finally mterpreted so that the interest or other ioan charges coiiected or 10 be collected in
<br />connection with the loan exceed the permilled iimits, Ihen: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permmed limit; and (b) any sums already collected from Borrower which exceeded
<br />permilled limits wi]! 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 asa
<br />partial prepayment without any prepayment charge under the Note,
<br />13. Legislation A/fecting Lender's Rights, If enactment or expiration of applicable laws has the effect of
<br />:.:~~e_~~~any provision of the Note 0; ~his~~urity Instrume~t unenf';.-~:1ble according 10 its terms.. Lender, at its opti~n,
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<br />;%,:~~'~~ ~~~~~;~ f:Y~~:~~:r;~~~::i~ :~i~~;t~~~~':l~e~;' \'~ah,,:~l~h~":t:';~~i~~: ::~~e I~:C~~~ ,,;:;:;:::;:1:
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<br />paragraph 17.
<br />14. "lot ices. Any notice to Borrower prOVIded for in Ihis Security Instrumenl shall be given by deliveri:lg it or by
<br />maliing It by tirst class mail unless applicable law requires use of another method, The notice shall be directed to the
<br />Propeny Address or any other address Borrower designates by notice to Lender, Any notice to Lender shall be given by
<br />firsl class mall to Lender's address stated herem or any other address Lender designates by notice to Borrower, Any notice
<br />proVIded for m this Secumy Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />'" thIS paragraph.
<br />:~. GU~~fii~ Uii; Si;vei""sbiUty. This S-ecurity Instrument shaH be governed by federal law and the law of-the
<br />junsdl~[n)n In Wflll,;n the Pfoperiy IS located. In the event thai any prOVision Oi' dause of th;:; Security instrume.~t Of the
<br />:-.Iote contlicts wllh appiicable law, such conflict shail not affect other provisions of this Security Instrument or the Note
<br />whIch can be given effect WIthout the conflIcting prOVISIon, To thIS end the provisions of this Security Instrument and the
<br />:-.Iote are declared to be severable,
<br />16. Borrower~s COP}'. Borrower shall be g1\'en one ,:onformed copy of the Note and of this Security Instrument.
<br />17, Transfer of the Property or a Beneficial Interest in &rrower. If all or any part of the Property or any
<br />!Oterest in It is sold or transferred (or If a beneticlal 10terest in Borrower is sold or transferred and Borrower is not a natural
<br />person) wlthoU! Lender', pnor \Vnlten consent. Lender may. allts option, require immediale payment in full of all sums
<br />secur<'d bs' Ih" S"cunty lnstrumen!. However, thIS oplton shall not be exercised by Lender if exercise is prohibited by
<br />federalla\V as "fthe date l,fthls S"<:untl' Instrument.
<br />If L~nder e.\~rClses thIS "puon, Lender shall gIve Borrower nouce of acceleralion. The nOllce shall provide a period
<br />of not less than ;0 days from .he date the nOUce is delivered or mailed withm which Borrower must pay all sums secured by
<br />thl. Security Instrum~nt. If Borro"er fails Eo pay these sums pnor to the expirauon oflhis penod. Lender may invoke any
<br />remedIes permltt~d by thIS Security Instrum~nt without further notice or demand on Borrower,
<br />18, Borrower'. Right to Reinstate, If Borrower meets certa," condiuons. Borrower shall have Ihe right to have
<br />cnforcement pf thIS Secunty Instrument Jiscontll1ued at any llm~ pnor to the earher of: (a) 5 days (or such other period as
<br />appl1cable la" may specify for r~ll1statement) before sale of the Property pursuant to any power of sale contained in this
<br />Secunt, Instrument. ,>r (b) entry l,f" iuJgment enfon::,"g thts S,,<:unty Instrument. Those conditions are that Borrower:
<br />(a) paYS Lender ali sums whIch then C wo'uld be due under thIS Secu~tv Instrument and the Note had no acceleration
<br />(X:cun:ed: (bl cures an, default of allY ,)ther co'enam, 01 agreements;'(c) pays all expenses incurred in enforcing this
<br />SecUnl; InSltUmem, ,nduding, hut nelt illllned to, reasonable aHorneys' fees; and (d) takes such action as Lender Illay
<br />reasonably reqUire I" aSSure that the lien e,f thiS Secunty Inslrument, Lender's nghts 111 the Property and Borrower's
<br />()bhgatH,Hl to p.ay ;he sums ~ccured by thiS Securu) Instrumt:nt ~hall (onllnUc unchanged. Upon reinstatement by
<br />Borro\\er. !h!~ ~~u.rH:, In:-.trument ;.lnJ the iJbhgath.ms secured hereby "}ha.Ii ternam fuB\' dfel.:livc as if no aL:Cderaflon had
<br />occurrat Hov.e\cr. !hl:'~' nght to remstate ':'.haU n~H 3pply III ,he ('as~ 1..)(;.u..'.:ekr:H1LHl un(k:~ paragraphs 13 or 17
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<br />"lm.., L: J'.il FORM CO\'ESANTS Borrower ano Lender further covenant and agree as follows:
<br />19, Accelention; Remedies. Lender shall give notice to Borrower prior to acceleration foUowin!! Borrower's
<br />breach of MY cQveoant or agreement in tlUs Security Instrument (but not prior to acceleration under parallraphs 13 and 17
<br />~ appiicabie taw pnnides otherwise). Tbe no(i~e shaU specify: \ai tbE' default; (b) the action required to C'ur~ the
<br />detalt; tc) a date. not less than 30 days from the date the notice is given to Borrower. by which tbe default must be cured;
<br />aad IdJ that failure to CUle tbe default on or before tbe date specilied in Ihe notice may result in acceleration of tbe sums
<br />seelUed by thia Security In.strUnleat and sale of tbe Property. The notice sball further inform BOTTower of Ihe right to
<br />reiuate after acceleration and Iht ript 10 bring a court action to assert the non-existence of a tiefauit or an)' "Iller
<br />dtl_e of Borrow!!. to acceleration and sale. lC the default is non cured on or before the date specified in the notice, l,cnder
<br />at its optioa l1lllY require immediate payment h. full of all SWWl secured by this Security Instrument without forther
<br />Mmaa.d lUId l1lll)' ill,uk&; the power uf sale and any other remedia permittt!d by lIpplkllble law, Lender shall be entitled tll
<br />coilftt aU UpeIWIS incurred In punulall the remedies provided in this parlllll'~i>b I'll, indudinll. hut not limited to,
<br />f'~~ ~Tn~)~' f~ aM ~)$t! of tit!. e"i.AC'@~
<br />It the po..er of liaie is invoked. Tru.st<< shall r<<ord a notice of default in each <ount) in wbich an) pact of the
<br />Pr~rt1 i.locatCii and ~~U mait CGji)fl'$ Qf "ucb notk~ in ti"'JE manner prE:$CT10erl hy :liJpUcabie I~~ to nt,}tn~"tlr and to (he
<br />'>tl>er llCl'>OM pnscrib.ld by applicable la..., After lhe ti_ re,q"ir...a by apjJllcllble law, Tru..<< .hail ~l\'e publie notice "j
<br />~ hJ the Pt:r~ iUto to the .mtUUlCf i)tt"$C:ribed bl :appHcabit law. rru;\t~t:. "'ithout demand on Borro".cf. ..hall \dl th\'
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