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�0�10�53� 12. Substitute Trustee. Lender, at its option and with or without cause, may from time to tirne remove Trustee and appoint; by power of attorney or otherwise, a successor trustee to any Trustee appointed hereunder. Without conveyance of the' Property, the successor trustee shall succeed to all the title, power and duties conferred upon Trustee herein and by applicable law. 13. Subrogation. Any of the proceeds of the Note used to take up outstanding liens against all or any part of the Property have been advanced by Lender at Borrow�r's request and upon Borrower's representation that such amounts are due and are secured by valid liens against the Property. Lender shall be subrogated to any and all rights, superior titles, liens and equities owed or claimed by any owner or holder of any owner or holder of any outstanding liens and debts, regardless of whether said liens or debts are acquired by Lender by assignments or are released by the holder thereof upon payrnent. 14. Partial Invalidity. In event any portion of the sums intended to be secured by this Security Instruxnent cannot be lawfully secured hereby, payments in reduction of such sums shall be applied first to those portions not secured hereby. In the event that any applicable law limiting the amount of interest or other charges permitted to be collected is interpreted so that any charge provided for in this Security Instrument or in the Note, whether considered separately or together with other charges that are considered a part of this Security Instniment and Note transaction, violates such law by reason, such charge is hereby reduced to the extent necessary to eliminate such violation. The amounts of such interest or other charges previously paid to Lender in excess of the amounts pernutted by applicable law shall be applied by lender to reduce the principal of the indebtedness evidenced by the Note, or, at Lender's option, be refunded. 15. Loan Charges. If the loan secured by this Security Insh�.iment is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed the perrnitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the pernutted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payrnent to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 16. Borrower's Authorization for Disclosure of Financial Information. Borrower hereby authorizes the holder of .any mortgage, deed of trust or other encumbrance with a lien that has a priority over this Security Instrument to disclose any financial information requested in writing by the above-named Lender regarding Borrower's loan. Such information may include, but sha11 not be limited to, the following information: current loan balance, loan status, delinquency notices, tax and insurance receipts, hazard insurance policies and flood insurance policies, and any other information deemed necessary in its sole discretion by Lender. Page 5 of S Initials �