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Home My WebLink About0825 ks:~rrowror fails to rrspond to Lendcr within 30 days after the da[e tAe notice is given, Lender is authorixed to coikct and appiy the proceeds, at its option, either to rcs~oration or repair of the Property or to the sums sccured by this Security Instrument, whether or na then due. Unlrsc Lender and Borro~w~er othenviu agrce in w~iting, any application of proceeds [o principal shall not extend or postpone the d~e date of [he monthFy ~yments referred to in paragraplu l and 2 or change the amount o[ such payments. 10. Borrower Not Rekas~ Forfiearasce By Lend~r Not a Walrer, Fxtensan of the time for paymcnt or modificatan ot amort'uation of the sums secured by inis Security instrument granted by L.ender to any successor in interest of Borrower shall not opente to rekaae the liability ot tM original Borrov~,er or Borrower's wccessors in interest. I.ertder shaU not be requircd to commence p~oceeding,s against any succescor in interest or refuse to extend time [or payment or othervvise modify amonization ~~f ~he sums secured by this Security lnstrument by reason o[ any demand made by the original Borro~er or Bortow~cr's succcssors in interes[. Any [orbearance by I endcr in ezerciting any right or remedy shali not be a waiver of or preclude the exercise of any right or remtdy. 11. Suceessors aad AssFgns Bouod; ]oiat and Sereral liability; Co-sl~geers 'll~e covcnants and agrcements of this S~curity lnsirument shall bind and bcnefit the ~uccesso~s and assipts of Lender and Bormwer, subjeet to the provisions o[ paragraph 17. Ilorrower'e eoMenants and agreemeets chai! be joint and severel. Any l3orrower who co-signs this Sccurity Instrument but does na executc the Note: (a) is co-signing this Securiry lnurument only to mong,age, grant snd convey that !3:>rrower's interest i~ the property uader the terms of this Security Instrument; (b) is not pe~sonalty obligated to pay the sums secured by this Security Instrument ~nd (c) agreu that Lender and any other Bonower may agree to eYCCnd, modifv, forbear or make any accommodations with regard to the ternu of [his Sccurity Insirument or the Note without that Borrow~er's consent. 12. l.oan Charges. If the loan ucurcd by this Security lnstrument is subjut to a law which sets maximum loan chargcs, and that law ia finally interpreted so that i he ~nterest or other loan chargu collected or to be collectcd in conncetion with ~he loan excecd the permitted limits, tAen: (a) any such loan charge shall be reduad h~ ihe amount necescary to rcduce the charge to the permitted limit; and (b) any sumt aiready colketed from Borrower which exceeded permitted limits will be rcfunded to Borrower. Lender may choose to make this rc(und by rcducing the principal owtd under the Note or by malcing a direct paymeni to BorrawTr_ lf a rcFund rcduccs principal, the reduction will bc treated as a partiat prcpayment witAout any prcpayment chaege under the Note. l3. l.egislatfon Atketing Lender's Rights. lf enactment or expiration of applicabk laws has the effect of rendering any ptovision of the Nute or this Savrity Inurument unenforceable according to its ternu, Lender, at its option, may tequire immediate payment in [ull of all sums securcd by this Securiry instrument and ma}~ imvke any remediu permitted by pacagraPh 19. If Lender exerciscs t6is option, l.ender shall wke the steps spuiFicd in Ihe second paragraph of paragraph 17. ' ld. Notiees. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first clasc mail unlcss applicabk law requires use of anotAer method. The notice shall be directcd to the PropeRy Addrcss or any other addrcss Borroarer designates by notice to Lender. Any notice io Lender shall be given by first class mail to Lender's address stated herein or any othet address Lender designates by notice to Borrower. Any notice provided tor in this Security Instrumeat shall be deemed to have been given to Borrower or Lertdet when given as provided in this paragraph. l~. Governing Iaw; SetiYrability. This Sccurity Instrument shall be govemed by kderal law and the law of the jurisdiction in which the Property is locatcd. !n ? he e~~ent that any provision or clauu of this Security Instrument or the Note conflicts with applicable law, sueh confliet shaU aot affect other provicionc of this Seeurity ir~sirument or the I~ote whic6 can be given of[ect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are dalared t~> i~c severable. l6. Borrvwer's Copy. Borrawer shall be givcn one con[ormed copy of the Note and of this Security liutrument. ~ l7. Transter of the Property or a Benefuial interest in Bortoaer. If all or any part of the Property or any interest in it is sold or transferred (or if a benefkial ,ai~erzst in BorravrYr is sold ot transferred and Borrow~r is not a natural pcrson) without Lender's prior written consent, Lender roay, at its option, require immediate i ~~mcnt in tull of all sums secured by this Security Instrument. Howcver, this option shall not be exenised by Lender if exercise is prohibitcd by federal law~ as of ~ !h~ aate of this Security Instrument. ~ If Lcnder exercises this option, Lender shall give BormwYr notice of acceleration. Tho notice shall provide a period of not Iess than 30 days from the date thc ~ ~ nu~ice is delivered or mailed within which Boriowrr must pay all sums secured by this Securi~y Instrumenl. If Borrawcr fail.s to pay these sums prior to the expiration ~r this period, l.ender may invoke any remedics pcrmitted by this Security Insttument without funher notice or demand on Bor~ower. ~ 18. Bormwer's Right to Reinstate. !f Borrrn?•er mcets certain conditions, Borrower shall have the right ro have enfomment of this Security Instrument ~ ~ ~:>run~inued at any time prior to the earlier of: (a) 5 days (or such other period as applicabk law may specify for reinstatement) before sale of the Property pursuant ~ ~ any power of sale contained in thw 5ecurity Instrumenr or (b) entry of a judgemcnt enforcing this Security lnstn,ment. Tl?ose conditions are that Borrower. (a) 1 G ~.:y~ Ixnder all sums which then would be due under this Sccurity Instrument and the Note had no accderation occurnd: (b) cures any default of any other covenants ~ i € :~r agreements; (c) pays a~l expenses inrurred in enforcing this Security Instrument, including, but not limited to, teasonabk attomeys' fees; and (d) taku such action : ~ Lcnder may reasonably requirc to assure that the Iien of this Security Instrument, Lcnder's rig!?ts in the P~operty and Bormwer's obligation to pay the sums sccurcd ~ ¢ t~, chis Security Instrument shall conUnue unchanged. Upon reinstatement by Borrower, this Security Iactrument and the obligatioes seeured hereby shall remain ~ ~ w'!~ ef(cctive as if no acceleration had occurrcd. }iowever, this right to minstate shall not apply in the case of acceleration under paragraphs 13 or 17. ~ i ' ~ j ~ ~C)\-UNIFORM COVENAI~'I'S. Bormwrr and L.ender further ccmnant and agrce as follows: ~ ; ~ l9. Accekration; Remedies. Lender shall pve notice to Borrower prior to accekratan follo~.ing Bormwer's bnach ot any coveeant or agrcemeat in this Security ~ I;~~t?umenl (but not prior to accekntion under parag~sphs 13 and 17 unkss applicabk la~+ provides dherr?ise). The notke sksll specify: (a) the detsu{~ (b) Ibe aetion ~ reyuired to cure the defaulr, (e) s date, no1 kss lhan 30 days from the dste Ihe ootice is giren to Borrower, by which the detautt must be cured; and (d) thst fai}urc ~ ~ ~o eure the defsult on or beforc the date specified in the notiee may rcsuh in accekrat'an ot the sums secured by this SecurNy lnstrument, tombsnrc by judicial ~ ~ ~ rocerding and sak ot the Property. 'Il~e notice shall turther intorm Borrawer ot the righl fo reinstate aBer accekrafion aad the right to assert in the forabsare j p receeding the non-existence of a default or any olher deknse of Borrower to accekratan and torabsurr. If the detault is nw cared on or betorc th~ date specified ~ i n the notice~ Lender at its optan map require immediate payment in tull of all wms secured by Ihis Securiry Instrument without furiher demand and roay forecbse ~ rhi; Security Instrument br judicial proceeding, Lender shall be entitkd to colleet all expenses incurred in pursuing ~he rsmedies pmvided in this paragraph 19, in.luding, but not limited to, reasonabk attorneys' tces and costs of titk eridencc. ~ ~ 2ll. Lender in Possession. Upon accderation under paragraph 19 er abandonmcnt of the Propeny, [.cnder (by judiciaUy appointed receiver) shall be entitled to i , _n:cr upon, take posscssion of and manage thc Property and to collect the rents of the Pmperty including those past duc. Any rcnts colluted by l,cnder or the ~ . 1 ~_ce,~cr shall be applied first to paymer.t of ~he costs of management of the Property and mlfer~ion ot rents, including, but not limited to, receivers fees, premiums j ~ a receiver's bonds and reasonable attorneys' fees, and then to the sums secured by this Security Instrument. ~ 2l. Rekase. Upon paymcnt of a!! sums securcd by this Security Instrument, Lender shall rclease this Security Instrument without charge to Borrower. Borrow~er ~ >'~ai1 pay any recordation costs. ~ 22. Attorneys' Fees. As used in this Sccunty Instrument and the \ote, 'attomeys' kcs' shal! inc{udc any attomeys' (ees awardcd by an appellate murt. ~ ~ Ridea to this Securit~ Instrumen4 If onc or more riders arc exccuted by Borrawer and recorded together with thia Security Instrumeat, the covenants ancl ~ .ercements of each such rider shall be incorporated ir.to and shall amend and supplement the covenants and sbreements o[ this Security Instrument as if the ridec(s) ~ .:crc a part o( th~s Security lnstrument. ~ ¢ ~ ~ !7 ()RIDASingk FamililyF'VNA/FHLytC UNIFOR.~1 I\STRU~IE!~T U R c BOOK V~~ PACE ~~5 ~ ~5 " _ ,..,e~,,,~-c ~s~~r r~~:-c~~°k'.5'~m?`t`c--~",~.,~?rz.~:~+. z2 ~ - ~ 4~~~~Y~~.~~~s`~~'~~~',.~ _