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<br />84 - 005538
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<br />If the Property is abandoned by Borrower, or if, after notice by Lender 10 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 Ihe 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. EXlension of the time for payment or
<br />modificalion 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 extendiime for
<br />payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of anydl:lI1llndmade
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercisinganyrightorr~y
<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 provisiot\s
<br />of paragraph 17, Borrower's covenanls and agreements shall be joint and several, Any Borrowerwho co-signsthis5ecurity
<br />Inslrument but does not execute the Note: (a) is co-signing Ihis Security Instrument only to mortgage, grant and convey
<br />that Borrower'$ interest in the Property under the terms of this Security Instrument; (b) is not personally obliglltedto),ay
<br />the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borro\\<er may agree to enend,
<br />modify, forbear or make any accommodations wilh regard 10 Ihe terms of this Security Instrumentonhe Note without
<br />thai Borrower's consent,
<br />12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan
<br />charges, and that law is finally inlerpreted so that Ihe interest or other loan charges collected or to be collected in
<br />connection with Ihe loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to Ihe permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower, Lender may choose to make this refund by reducing the principaI owed
<br />under the NOle 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 NotF
<br />13. Legislation Affecting Lender's Rights. If en?c!m~" c or expiratil''1 of applicable laws has the effeCt of
<br />rendering any provision of the Note or Ihis Security Instrume ~..e,.forceabk according to its terms, Lender. at its option,
<br />may require immediate payment in full of alt sums securl:U 0'1 this Security Instrument and may invoke any remedies
<br />permilted by paragraph 19, If Lender exercises this option, Lender shall)take the steps specified in the seeon:! paragraph of
<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 />Property 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, Any notice
<br />provided for in this Securily Instrumen! shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph,
<br />15, 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 Ihe event that any provision or clause of this Security Instrument or the
<br />Note contlicts with applicable law, such contlict shall not affect other provisions of this Security Instrument or the Note
<br />which can be given effect without the contlicling provision, To this end Ihe 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 />11. 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 interest in Borrower is sold or transferred and Borrower is not a natural
<br />person) without Lender's prior written consent. Lender may, at its option, require immediate payment in full of all sums
<br />secured by this Security Instrument, However, this option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as of the dale Oflhis SecurilY 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 30 days from the date the notice is delivered or mailed wilhin which Borrower must pay all sums secured by
<br />this Security Instrument, If Borrower fails to pay Ihese sums prior to Ihe expiration of this period, Lender may invoke any
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower.
<br />18~ Borrower;s Right to Reinstate. If Borrower meelS certain conditions, Borrower shall have the right 10 have
<br />enforcement of this Securily Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such olher period as
<br />applicable law may specify for reinstalemenl) before sale of the Properly pursuant to any power of sale contained in this
<br />Security Instrument; or (b) entry of a judgment enforcing this SecurilY Instrumenl. Those conditions are that Borrower:
<br />(a) pays Lender all sums which then would be due under this Security Instrument and Ihe Note had no acceleration
<br />occurred; (b) cures any default of any other covenants or agreements; (c) pays all e,<penses incurred in enforcing Ihis
<br />Securily Instrument, including, but nOI limited to. reasonable attOt !leys' fees; and (d) takes such action as Lender may
<br />reasonably require to assure thai the lien of this SecurilY Instrument, Lender's rights in the Property and Borrower's
<br />obligation to pay the sums secured by this Security Instrument shall continue unchanged, Upon reinstatement by
<br />Borrower. this Security Instrument and the obligations secured hereby shall remam fully effective as if no 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 />NOl'l-Ul'IIFORM COVEl'IAl'ITS. Borrower and Lender further covenant and agree as foHows:
<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 />unless applicable law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the
<br />default; (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 (d) tbat 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 Borrower of the right to
<br />reiastate after acceleration and the right to bring a court action to assert the non-existence of a default or any other
<br />def~ of Borrower to ...-celerstioii and sale. If the default is not cured on or befOre the date specified in th~ notiee, Lender
<br />at its optioll may require immediate payment in full of all sums secured by this Security Instrument without further
<br />demand and may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to
<br />collect all expenses incurred in pursuing the remedies provided in this paragraph 19, including, but not limited 10.
<br />reasonable attorneys' fees and costs of title evidence.
<br />If the power of sale is invoked, Trustee shall record II notice of default in each county in which any pan of the
<br />Property is located and shall mail copies of such notice in the manner prescribed by applicable law to Borrower and to the
<br />other persons prescribed by applicable law. After the time required by applicable law, Trustee shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on Bcrrower, shall sell the
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