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Home My WebLink About0925 • ~ 1 ~ . If Lender rcquired mortgag~ insuranct as a condition ot maki~g ~he loan secured by this Security Ins~rument, I3arm~ver shall pay the premiums reyuired to maintain the insurance in eftcct until such lime as the requircment for the insuranre terminales in accordance wilh Bc~rrowe~'s an~ Lender's written agreement or applicable law. 8. l~spfction. Lender or its agent may make reasanable ~ntrits upon and inspections of the Properly. l.ender shall give 8~ir~awer notice at the time oior priar to an insptction specifying reasonable cause for the inspectior.. 4. Conden~nation. The proceeds of any award or claim t'or damaga. direct or consequential, in connection wilh any candemnation or other taking oi any part of thc Propehy. or for conveyance in litu of condcmnation. are hereby assigncd and shall be paid to Lender. In the event of a total laking of the Property. the proceeds shall be applied to the sums sccured :;•y ~his Sccurity fnstrument, whether or not th~n dut. with any exceas paid to Borrower. in the event of a partial laking ot the Property, unless Botrowtr anJ l.ender otherwis~ agrte in writing, the sums secured by this Sccurity Inslrumrn~ shalt be rcduced by the amount of the proceeds muttipli~ed by the fo!lowing fract~on: (a) the totat amount o~ ih~ a4me yecYred immediately txfore the takin~, dividtd by (b) the fair market valur oC the Pcoperty immediately before the taking. Any balance shall be paid to t3orrower. I~ the Property i~ abandoned by Borrower, or if. aRcr notice by Lender to Borrower that the condcmnor ofTers to make an award or settle a cfaim for damages. Borrower fails to respo:~d to Lender wiihin ;0 days after t~e date the notice is given, Lender is authorized to collect and appfy the procteds, at its op/ion, ~ither to restoration or rcpair o~ the P~operty or to the sums secured by this Security Instrument, whether or not then due. . Unless Lender and Borrow~r otherwix agree in writing, any application of procee~s to priac~pal shail itot exter~! os postpone the due date of the mont6ly payments teterred to in paragraphs 1 and 2 or change tF~e amount of such payme~~ts. 10, Borrower Not Released; Forbeannce By Lender Not • Wat~er. Eatension of the time for paymen~ or modiRcation of amortization of the sums xcured by thi~ Security lnstrument granted by Lendet to any successor in intertst of Borrower shal! not operate 1o release the liab+lity of the orig+nal Borrower or Borrower's saccessors in ~!tleresi. Lender shall rtot be requircd to commence proceedings against any successor in interest or :eCuse to extend time for payment or otherwise modify amortization of the sums securod by this Security lnstrument by reason of any d~mand made by the original 8orrower or Borrower's successors in interest. Aay forbearance by [.e~der in c;.:rcisi~g any right or remedy shalt not be a waiver of or prec{ude tfi~ exercix of any right or remedy. ~ 11. Suecessors and Assigns Bound; Joint and Setiertl Lisbility; Co-signera. The covtnants and agreements oF this Security Instrument shall bind and benefit the successors and assigns of L.endcr and Bo~cower. sub3ect t~ the provisions oi paragraph 17. Borrower's covenants and agreem~nts shall be joint and several. Any Borrower who casigns this Security instrument but dces not execute tht Note: (a) is co-signirrg this Security Instrument only to mortgage. grant and convey that_ Barrower's interest in tht Property under th~ terms ot this Socurity lnstrument; (b) is not personally obfigated to pay the sums secured by this Security Is?strumtnt; and (c) agrees that Lender and any other Sorrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of ihis Security Instrument ar the Note wiihout that Borrower's consent. 12, Loan Cfiarges. If the loan stcured by this S~curity lnstrument is subject to a law which sets maximum loan charges, and that taw is finafly interpreted so that the interest or other loan charges coilected or to be collected in connection with the toan exceed the permitted limits, then: (a) any such loan charge shail be reduced by the amount necessary to reduce the charge to the permitte:d limit; and (b) any sums alseady cc{tectee~ from Borrower which exceeded permitteci limits will be refunded to Borrower. Lender may choox to make this refund by reducing the principal ow•ed ~ unde~ the Note or by making a direct payment to Borrower. tf a refund reduces principal. the reduction will be treated as a partial prepayment without any prepaym~nt charge under the Note. ~ 13. Legislation Atlecting L.ender's Righb. If enactment or expiration oi' applicable laws has thc cffc~t of ~ rendering any provision of the Note or this Security [nstsument unenforceable according to its terms, l.ender. at its option, may require immediate payment in ful) of all sums secured by this Security Instrument and may invokt any remedies ; permitted by paragraph 19. lf Lender exercises this option. I.ender shall take the steps spccified in the second paragraph of ~ paragrapfi 17. F 14, Notices. Any notice to Borrower provide~ for in !his Security Instrument shali be given by delivering it or by mailing it by first class mail u~less applicable law requires use of another method. The nolice sha11 be direc~cd to the Property Address or any other address F3orrower designates by notice to Lender. Any notice to Lender shall be given by first ctass mail to Lender's address stated hercin or any other address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall bedeemed to have been given to Borrower or Lender when given as pro~°ided ~ 1 in this paragraph. - ~ I5. Governing Law; Sererability. This Security Instrument shall be go~erned by Pederal law and the law of the jurisdiction in which the Property is located. [n the event that any provision or clause of this Security lnstrument or the Note canfiicts with applicable law, such conflict shall not afTect othcr provisions of this Security [nstrumeni or the Plote which can be given effect without the conflicting provision. To this end the provisions of this Security lnstrument and the t~lote are declared to be severabie. 16, Barrower's Copy. Borrower shall be given one coni'ormed copy of the NotP and of ~his Security Instrument. 17. 'I'ransfer of the Property or s 8~~ef~ciat Interest in Borrower. If all or any part o~ the Property or any interest in it is sold or transferred (or if a beneficial interat in Borrov:er is sold or transEerred and Borrower is not a natural person) without Lende:'s prior written consent, Lender may. at its option, require immediale payment in full of al! sums stcured by this Security Instrument. However, this option shall nat be eaercised by L.end~r if eaercix is ~rohibited by federa4 law as of tfie date of this Security Instrument. ' If Lei~der exercises this option, i,ender si~alf givt Borrawer notice of acceteration. T?~e notice shall provide a period ~ oi'not less than 30 days from the date the notice is delivered or mailed withir? which E3orrower musi pay ail sums secured by ihis Security Instrument. If Borrower fails to pay these sums prior to the expiration of this penod, Lender may invoke any ~ remedies permitted by this Security Instrumenl without further notice or ~emand on E3orrower. ~ i8. I3orrower's Riqht to Reinstate. If E3orrower rilecls certain conditi~ns, Borrower shal) have the right tc have ; enCorcement of this Secunty Instrument discontinued at any time prior to the earlier of: (a) S days (or iuch other period as ~ applicable law may specify for ~einstatement) before sale of the Property ~ursuant to any power of sate contained in this ~ Security Irstrument; or (b) entry of a judgmcnt enforcing this Sec~~rity [nstrument. Thcxt conditions are ~ha1 Borrower: {a) pays Lender al! sums w~hich then would be due und_r this Security Instrument and the Note had no acceleration occurred: ib) cures any default of any other covenants or ag~cements; (c) p~y~s ail eapenses incurred ~n enforc~ng this Secu.-ity lns!rument, including, but not fimitc~ to, reasonable attorneys' f~es; and (d) takes such action as Lender may :easonably requir~ to assure that the ticn of this Security Instrument, Lender's nghis ~n the Properly and 13vrroa~er's r obli~tation to pay the sums secured by this Sec~rity Instrum*~: shall continue unchanged. Upon reinstatemrnt by ' Borrower, this Security lnstrument and the obiigations securcd hereby shalf rema~n fully e(fcclive as if no acce~eration had occurred. Nowever, this right to reinstate shall not apply in the case of acceferation under paragraphs 13 or 17. ~~~447 ~~r,~ ~5 . . F ~ _ ~ _ _ ~ _ - - _