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<br />84c.-.!!t
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<br />005526
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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 seltle 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 collec, and apply Ihe proceeds, at its option, either to restoration or repair of the Property or
<br />to the sums secured by Ihis Securily Inslrument, 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 a.llY succe5..<Qrin
<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 extendtilne for
<br />payment or olhcrwise modify amortization oflhe sums secured by this Security Instrument by reason ohny 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 />Instrumenl but does not execute the Note: (a) is co-signing this Security Instrument only to mor.rgage. grant and convey
<br />Ihat Borrower's interesl in the Property under Ihe terms oflhis Security Instrument; (b) is not personally obliglltedtopay
<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 Ihe terms of this Security Instrument orthe Note withol!t
<br />thai Borrower's consent,
<br />12. Loan Charges, If the loan secured by this Security Instrument is subject to a law which sets maxiQlum loan
<br />charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected 'in
<br />connection with the loan exceed Ihe permitted limits. then: (a) any such loan charge shall be reduced by the amount
<br />necessary 10 reduce the charge to Ihe permitted limit; and (b) any sums already collected from Borrower whichexCeedecl
<br />permitted limits will be refunded to Borrower, Lender may choose to make this refund by reducinglhe principatowed
<br />under Ihe Note or by making a direct paymenlto Borrower, If a refund reduces principal, the reduction will be treated asa
<br />panial prepayment without any prepayment charge under the Nu.c
<br />13. Legislation Affecting Lender's Rights. If e", '\<:1),t or expir&"0n of applicable laws has the effect of
<br />rendering any provision of the Note or this Scurity InstnlH.,:' unenforceable according t!) its lerms, Lender. at its option,
<br />may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies
<br />permilled by paragraph 19, If Lender exercises Ihis option, Lender shall,take the steps specified in the second paragraphc~
<br />paragraph 17.
<br />14, Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another method, The notice shall be directed to the
<br />Properry 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, AfiYfiotic-e
<br />provided for in this Security Instrument shall be deemed 10 have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Law; Severability. This Security Inslrument shall be governed by federal law and the law of the
<br />jurisdiction in which the Propeny 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 effecl withoUlthe 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 oflhe Note and of this Security Instrument.
<br />i7. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interesl in Borrower is sold or Iransferred and Borrower is not a natural
<br />person) without Lender's pnor wrillen consent. Lender may, at its option, require immediate paymenl in full of all sums
<br />secured by thiS Security In51rument. However. Ihis option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as of the date Oflhls Secunty Inslrument.
<br />If Lender exercISes this option. Lender shall give Borrower notice of acceleralion, The notice shall provide a period
<br />of not less than 30 days from the date the nOlice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Secunty Instrument. If Borrower fails to pay these sums prior to the expiralion of this period. Lender may invoke any
<br />remedies permiued by this Security instrument without further notice or demand on BOiiower.
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have
<br />enforcement oi thiS Security Instrument discolltinued at any time prior to the earlier of: (a) 5 days (or such other period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this
<br />Security Instrument: or (b) emry of a Judgment enforcmg thIS Security Instrument, Those conditions are that Borrower:
<br />(a) pays Lender all sums whIch then would be due under this Security Instrumenl and the Note had no acceleration
<br />occurred; (b) cures any default of any other covenants or agreemenls; (c) pays all expenses incurred in enforcing this
<br />Security Instrument, including, but not limited to, reasonable atlorneys' fees; and (d) takes such action as Lender may
<br />reasonably require to assure that the lien of this Security Instrument, Lender's rights in the Property and Borrower's
<br />obligalton to pay the sums secured by this Secunty Instrument shall contlnue unchanged. Upon reinstalement by
<br />Borrower, thiS Secumy Instrument and the obligations secured hereby shall remain fully effective as ifno acceleration had
<br />occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17.
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<br />NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />19. Acceleration; 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 />ualess applicable law provides otherwise). The n:ltice shall specify: (a) the default; (b) tbe action required to cure the
<br />c1efalllt; (c) a date, not less than 30 dayS from the date the notice is given to Borrower, by which the default must be cured;
<br />and (dl that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums
<br />sec:1lI"elI by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to
<br />mutate after ac:celeratlon and the right to bring a court action to assert the non-existence of a default or any other
<br />cIeI__ 01 Borrower to acceleration and sale. If tbe defauit is no. cured on or before the date specified in the notke, Lender
<br />at its option nuay require immediate payment in full of aU sums secured by this Security Instrument without further
<br />delaaad lUld may invoke the power of sale and any other remedies permitted by applicable law. Lender shull be entitled to
<br />col*t all expenses incurred in Pursuinll tbe remedies provided in this paralll'aph 19, including, but not limited to.
<br />reasou.ablc attorneys' fees and costs of title evidence.
<br />If the power of sale is in.oked, Trustee sball r~ord .. notice of default in each county in which allY part of the
<br />Property is loo:ated ud shall mail copies of such notice In the manner prescribed by applicable law to Borrower and to the
<br />O~r pef'S4M prescribed by applic~b!e law. After the time reql!ired by applicable la... Tru.~te;! shall give public notice of
<br />sale to tbe pef'$ODi and in tbe manner pres<:ribed by applicable law, Trustee, without demand on Borrower. sball sell the
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