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<br />84 -- 005563
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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 dale the notice is
<br />given, Lender is authorized 10 collect and apply the proceeds, at its option, eilher to restoration or repair of the ProperlY or
<br />to the slims 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 dale of the monthly paymenls referred to in paragraphs I and 2 or change the amount of such payments,
<br />10. Borrower ;'IIot Released; Forbearance By Lender Not a Waiver, Extension of the ti1l1e for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in
<br />interesr of Borrower shall not operate to reiease the liability of ihe 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 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 interesl. 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 covenanlS 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 join! and several. Any Borrower who co-signs Ihis Security
<br />Instrument but does not execute the Note: (a) is co-signing this Security Instrumenl only to morlgage, gran! and convey
<br />that Borrower's interest in the ProperlY under the terms of this SecurilY Instrument; (b) is not personally obligated to pay
<br />the sums secured by this Security Instrument; and (c) agrees that Lender and any olher Borrower may agree to extend.
<br />modify, forbear or make any accommodations with regard to the terms of this Security Instrument or Ihe Note without
<br />that Borrower's consen!.
<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 interpreted so that the inlerest or other loan charges collected or to be collected in
<br />conneclion 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 Ihe permined limit; and (b) any sums already collected from Borrower which exceeded
<br />permined limits 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~ a
<br />partial prepayment without any prepay men I charge under the Not~
<br />13. Legislation Affecting Lender's Rights, [f en?c!~ _", or expir3tio" of applicable laws has the effect of
<br />rendering any provision of the Note or this Security instrumc '...ei;forceabk dCLording 10 its terms, Lender. at ils option.
<br />may require immediate payment in full of al: ,urns secureu oy 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 seconrl paragraph of
<br />paragraph 17.
<br />14. :-.Iotices, Any nonce to Borrower provided for in thIs Security Instrumenl shall be given by delivering il or by
<br />mailing it by first class mail unless applicable law requires use of anolher method, The notice shall be directed to the
<br />ProperlY Address or any other address Borrower designates by notice 10 Lender. Any notice to Lender shall be given by
<br />first class mail to Lender's address stated herem or any other address Lender designates by notice to Borrower, Any notice
<br />provided for m thiS Security Inslrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />III this paragraph,
<br />15, Governing Law: Severability. This Security Instrument shall be governed by federal law and the law of the
<br />Junsdicnon m which the Property is located. In the event that any provision or clause of this Security Instrument or the
<br />:'olote conflicts with applicable law, such conflict shall nOI affect other provisions of this Security Inslrument or Ihe Note
<br />which can be given effect withoUlthe conflicting provision. To this end the provisions of this Security Instrument and the
<br />~ote are dedared to be severable.
<br />it.:. Bufro~ef's Copy. Borrv\ver shall be given one ..:onfonned copy of the Note and of this S~urity Instrument
<br />17, Transier oi the Property or a Beneficial Interest in Borrower, If ail or any pari of the Property or any
<br />mterest m it is sold or transferred (or if a beneficial interest in Borrower is sold or Iransferred and Borrower is nOI a natural
<br />person) wllhout Lender's pnor wntten consent. Lender may, at its option, require immediate paymenl 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 date e,fthls SecurIty Instrument.
<br />If Lender exaCises this option, Lender shall gIve Borrower notice of acceleration, The notice shall provide a period
<br />elf not less than 30 days from the date the notice is delivered or mailed Within which Borrower must pay all sums secured by
<br />thiS Secunty InslrUmenl. If Borrower falls to pay these Slims prior to the expiration of this period, Lender may invoke any
<br />remedies rermllted by th.s Secunty Instrument Wllhout further nonce or demand on Borrower.
<br />18. Borrower's Right to Reinstale, If Borrower meets certain condilions, Borrower shall have the righl to have
<br />enforceme1l1 of th" Secunty Instrument disc01l1inued at any nme prior to the earlier of: (a) 5 days (or such other period as
<br />:lppitcabie law may speCIfy for relllstatemenl) before sale of the Property pursuant to any power of sale contained in this
<br />Secunty Instrument: C'r (b) ~n[ry Of:.l judgment enforcmg this Security Instrument. Those conditions are tha[ Borrower:
<br />(a) pays Lender all sums which then would be due under thIS Secunty Instrument and the Note had no acceleration
<br />occurred: (h) I.:ures any default of any 0ther .:ovenants or agreements; (c) pays all expenses incurred in enforcing this
<br />Secunn Instrument. Illcludlllg, bur not limned to, reasonable altornevs' fees; and (d) takes such action as lender mav
<br />reason~bly reqUire t<) a>sure t'hat the hen of thIS Secunty Instrument: Lender's nghts III the Property and Borrowe/s
<br />obhgatlOn t..J ray the sums secured by this SecurIty InstrumerH shall -.'ontinue unchanged. Upon reinstatement by
<br />Borrower. {hIS Sel.:urH~ Instrument and the I.Johgauons. ~ecured hereby shall rem..un fully etfectIve as if no acceleration had
<br />("ccurreo. However. tht~ fIght to reinstate shall no! :.lppiy In the ...:ase of :.li.::cderatlOfl 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 Securitj' 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; (cl 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) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums
<br />secured hy this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to
<br />reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any other
<br />defense of Borrower to acceleration and sale. If the default is not cured ('n or before the date specified in the notice, Lender
<br />at its option may require immediate payment in fui! 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 entirled to
<br />collect all expel1lies incurred in pursuing the remedies provided in this paragraph 19, including, but not limited to,
<br />reasonahle attorneys' fees and costs of title evidence.
<br />If tbe power of sale is invoked. Trustee shall record a notice of default in each county in which uny parl of the
<br />Property is located lUld shall mail copies of such notice in the manner prescribed by applicable law to !lorrower and to the
<br />otber persons prescribed by applicable law, Afler tbe time required by applicable law, Trustee shall gi.e public [lolice of
<br />s.ale to the per~ons and In the manner prl's-crlbed 0)' apphcabie taw. Trustet. without demand on Bornt'+\er. ..,hail ~t.'H [ht,
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