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it~vrcnver (ails to respond to l.en~er within 30 days afler the datc the notice is given, l.ender ~s authorizui to coikct and apply thc procccds, at us op?ion, cithcr to
r~,~orat:on or rcpaie ot the Property or to the sums aecured by this Security Inst~umsnt, wActher or not then due.
Unlus l.endcr and Bonow~er otherwise aaree in w~riting, any application ot proceeds to principal shall not eictend or pcxtponc the duc datc of thc moniAly
r~,s„nents referred to in paragaphs 1 and 2 or ehan~e the amoum of such payments~
lA. Borrorrtr Not Rekase~ Forbearanee By Lesder Not a Wairer. Exteacion of t1?e time for paymcnt or maiification of amortvauon of the sums securrd by ~
~h~s Securiry Inctrument granted by Lender to any euececsor in interest af Bortvwer shall not operete ta release the liabil;ty of the onginal Borrower or Borro.titir's ~
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i.ender shall not be required to commence proceedings against any succestor io intcrcst or rctuse to entend time tor payment or othcr.~isc mociify amo~ti~ation
~~f th~ sumt ucurcd by thit Seeurity lnctrument by reason of any demand made by the original l3oreaver or BorTw+ers cuecossoa in intercst. Any for~arance b}•
1 cnder in exercising sny right or rcmed,v chall not be a waiver of or preclude the excrcise of any right or remedy.
11. Soccessors and Assi~s Boae~ ]oinl and SeverallJabilky; Co-sitaers 71~e covenants and agreements ot this Security lastrument sfiall bind and benefit the -
cuccessors and assig~s of L.ender and Borrower, subjeet to tlx proruions of paragraph 17. Borrower's cv~enants and agreemenu ehall be ~oint and uveral. Any
I3~~rrowKr wfio co-signs this Sccurity Instrument but does not execute the Notr. (a) is co-eigning this Secunty Instrument only to mortgage, grant and convey tAat _
t3,rrow,cr's intercst in the property under the terms o[ this Securiry Inswment; (b) is not pcrsonally obligatcd to pay thc sums aecurcd by this Sccurit~~ Instrumcnt
a;,S (c) agreu that Lender and any other Borrower may agree to extend, modify, [orbear or make any accommodatioru with rcgard to thc terms o! this Securit~~
!r.sinement or the Note without that Aor:+ow~er's eonsent.
12. Loan Charges !f ihe loan secured by this Security Instrument is subject to a law wl?ich sets manmum loan charges, and that law is Cmall~• ~nterprcted so that
~hc ir.temt or other loan chargrs collected or to be caliecttd in connection with the loan exceed the permitted limits, then: (a) any suc6 loan charge shall be reduccd
t~~ [he amount necessary to reduce the chaege to the permitted limit; and (b) any sums alrcady collected [rom Bormwrr which exceeded permiucd Gmi?s will bc
refunded to BorrowTr. Lender may choose to make this refund by rcduring the principal awed under the Nae or by making a direct pa~Tnent to I3orrower. If a
rrfund rcduces principal, the reduction will be treated as a partial prcpayment without any prcpayment charge under the \~ote.
13. Legislatae AfketisE Leede~'s Rights !f anactment or ezpiration of applirable laws has the effcct of rendering any prwision of thc notc or this Sccurit} ~
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~nctrument unenforcesbk aoeotding to its ternu, Lender, at its option, may rcquire immediate F+ayment in tull of atl sums sccund by this Security Instrumcnt and ~
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ma} invui~c any rcmcdiu permitted by paragnph 19. If Lender exercises this option, Lender shall take the steps speci~ed in the second paragraph of paragraph 17. ~
li. \otiees Any notice to Born7wer prwided [or in this Security Instrument shall be given by delivering it or by mailing it by Gat dass mait unlest applicable
requircs use o( another method. "Il~e notice shall be directed to the Property Addrcss or any other address Borrower designatu by notice to Lender. Any notire
txnder shall be given by first class maii to Lender's address stated herein or any other address Lender duignates by notice to Bomawer. Any nouce prrnided
!,~r in this Sccurity Instrument shall bc dcemcd to have bccn given to Borrowcr or Lendcr wfien given as prwidcd in this paragraph.
15. Governing I~r; Sevrrabltity. 'il~is Security lnstrument shall be govemed by federal law and the law of the jurisdinion in which the Propcny is located. In
: h_ e~~ent that any Qrovision or clause o[ this Security instn:ment or the \ote conflicts wiih applicabk IaA•, sunc ~onllict shall not atfect other provisions of this Security
i n~tr~ment or the \ote wfiich can be grvcn etfect vnthout the conflicting ptmu~on. "I'o th~s end the provisions of this Secanty lnstrument and the tiote are declared
he severable.
16. Bormwer's Copy. Borrawer shall be givtn one confortncd copy of thc Note and of this Sccurity Instrument. t
17. Tnasfer ot the PropertJ or a Bewefxisl IMerest in Borrawer. If all or any part of thc Propcrty or any intcrest in it is sold or transferred (or if a beneficial
~~:!erest in Borrawer is sold or transferted and Borrower is not a natural person) without Lender's prior written censent, Lcndcr may, at its option, rcquirc immcdiatc
~a~mcnt in full of all sums secured by this Security Instrument. Ha.~ever, this option shall not be exercised by Lendcr if exercise is prohibited by federal Iaw as of
ce date ot this Security Instrument.
If Lender excrrisu this option, Lender shall give Borrowcr noticc of accelcration. 71te notice shatl provide a period of not less than 30 days from thc date thc ~
r„~: ice is deli~ered or maileA within which Borroaer must pay all sums secured by this Security lnstrument. If Borrower fails to pay these sums prior to the eapiration ~
~ ihis period. Lender may inwlce any remedies permitted by this Security lnstrument without further rtotice or demand on Borrower.
18. Borm+?er's Right to Retnstata If IIorrower mects ccrtain conditions, BorrowYr shall ha~~e thc right to havc cnforcemcnt of this Sccunty Instrumcnt ~
~.cun:inucd at any time prior to the wrlier of: (a) 5 days (or such o~her period as applicable law may specify [or reinstatoment) before sale of the Property pursuant ~
any power of sale contained in this Security Instrumeet; or (b) entry of a judgemcnt cnforcing this Security Instrumens. TT~ose conditions are that E3orrower. (a)
t a}s [.ender all sums which then would be due under this Security Instrument and the I~Totc had no acceleration occurred; (b) curcs any default of any cther covenants
r agrcements; (c) pays all e:penus incurrcd in enforcing this Security Instrument, including. but not limited to, rcasonable attorne~s' feu: and (d) tal•cs such anion
l.cnder may rcasonably require to assure tAat the lien of this Security Instrument. C.ender's rights i~ the Property and Borrower's obligation to pay the sums securcd 7~
.~his Security Instrument shall continue uochangcd. Upon reinstatcmcnt by Borrowtr, this Secutity Instrumcnt and the obligations securcd hcrcby shall rcmain f
effecti~~r as if no accekration had occurred. Hawever, this right to reinstate shall not apply in the cau o( acceleration under paragraphs 13 or 17. ~
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i ':O~-U:~IFOTL~1 COVENAIv'I'S. E3art~on~er and Lendu furthcr covenant and agree as follows: ~
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19. Aeeekration; Rrn~edies. I.ender shall give notice ro Borrawer prior to accekratioe following Bortv~.er's brcach ot anr eorenant or agreemenl in this Security
; n,~ rumeM (I~M not prior to aecekration nnder paragaphs l3 and 17 unless applicabk law prorides whenrise). 'ilm noticc sl~sll specify: (s) Ihe detault; (b) tde sction
reyuired to core Ihe detauiC, (e) s~ate, wot kss tAaa 3Y da~s trom the date tt~e notiee is giree fo Borrower, by which t6e defwlt e~~st be tore~ and (d) fhaf failure
to curc the defsult on or betorc the date speclficd ie the eWice may resak in sccekratiw~ of the s~e?s saured by this Securit7 lastrument, forecbwre by judicial
i prnceediu` aad sak ot t6e Property. Tde notiee sYall forther igtorm Bormwer ot the risht to rcinstate aRer seeekration and the right to asxrt in the forecbsurc
~,roceedie~ Ibe aoa-eristteee of s defarN or a~ry ofher defewse ot Bortower to eecekrs!'aa aad forecbsure. It ~he detauk is eot enred on or beforc the dste specified
i-~ he aotiee, [,ender at hs optioa m7 raryirc i~emediste paya~ent in full of sll sea~s secxred br lhis Security Instrument wHl~out tortber dertwnd and may torecbse
~ i+: Security Instrumeat by jodicisl proeeeding. Leader sball be entitkd to coikrt rll expenscs incurred in pursuing the rcmedies prorided in this paragnph 19,
~uding, bat uot limited to, reasosabk attorse~s' tecs and costs ot titk e~ideece.
20. LenQer in Possession. Upon acceleration under paragraph 19 or abandonment of thc Property, Lender (by judicially appoir.tcd rcccivcr) shall be cntitlcd to
n~zr upon, take posussion ot and maoage the Property and to collect the rcnts of the P~openy including those past due. Any rcnts collectcd by l.ender or the
re;:ci~~er shall be applied first to paymtnt of the costs of management of the Propercy ar~d collection of rentt, including. but not limited to, rcceiver s fees, prcmiums
-:cceiver's bonds and reasonable attorneys' [ees, and then to the sums secured by this Security Instrument.
21. Rekase. Upon paymcnt of a!I sums aecured try this Suuriry Instrument, l,cnder shall rclease this Security lnstrumcnt without chargc to E3orrower. HorroarYr
hall pay any tzcordation cocts.
~ 21 Attorwers' Fees Aa used in this Security Instrument and the Note, 'attorncys' fcu' shall ir?cludc any atrornc}a' tccs awarded by an appcllate oaurt.
2i. Riders lo thls Stearity [wst~v~aeat. 1f one or more riGers are ezecuted by Botrovver and recorded together with this Security Itsstrument, the covenants and
~ ecmenta of each tuch rider etwll ~e incarpotated into and shall amend and suppicment the catinar~ts and a~reements of this Securiry instrument ac i( the rider(s)
i ~ re a pnrt of this Seeurity lnstn+mtnt.
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~ t.c~RIDASing{e Fsuniliiy-Ftih1A/FIiL~tC UAi1FOR:ti1 lNSTRL~fE~T 67~ PA~~.o1~
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