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Home My WebLink About0977 If Lender required mortgage insurance as a conditian oP making Ihe loan secured by this Security Inslrument, I3~~rro~~~er shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. 8, Inspettion, Lender or its agent may make reasonable e~~tries upon and inspections af the Pro~xrty. Lender :hall give Borroa•er notice at the time of or prior to an inspection specifying reasonable cause fur the inspection. 9. Condemnation. The proceeds ot~ any award or claim for damages, direct or consequential, in connec:tion with an~~ eondemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby ass~gned and shall be paid to Lender. In the event of a total taking of the Property, the p~oceeds shall be applied to the sums secured by this Security instrument, whether or not then due, with any excess paid lo Borrow•er. In the event of a partial taking of the Praperty, unless Borrow~er and Lender othern~ise agree in writing, the sums secured by this Security Instr~ment shall be reduced by ~ the amount of the proceeds multiptied by the following fraction: (a) the total amount of the sums secured immediately i hefore the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be raid to Borrower. (f the Property is abandoned by Borrou•er, or if, afler notice by Lender to Borrower that the condemnor ofTers ro make an aw•ard or settle a claim for damages, Borrower fails to respond to Lender within 30 days aRer the date the notice is gi~ en, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or ta the sums secured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of'proceeds to principal shal! not extend or ~ostpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount otsuch payments. 10. Borrower Not Released; Forbearance By Lender Not s Wsiver. Extension of the time For payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest o( Borrower shall not operate to release the liability of the original Borrovver or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Sec~rity Instrument by reason of any demand made by the original Borrower or Borrower's successo~ in interest. Any forbearance by l,ender in exercising any right or remedy shal! not be a waiver of or preclude the exercise of any right or remedy. 11. Successors and Assigns Bound; Joint and Several I.iability; Co-signers. The covenants and agreements of this Security Instrumenl shall tSind and benefit the successors and assigns of Lender and Borrower, subject to the provisions c~f paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower wi?o co-signs this Security I~istrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Bdrrower's interest in the Property under the terms oE this Security Instrument; (b) is not personally obiigated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend. mc~dity, forbear or make any accommodations wiih regard to the terms of this Security Instrument or the Note without that Borrower'sconsent. l2. Loan Charges. If the loan secured by this Security Instrument 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 cemnection with the loan exceed the permitted limits, then_ (a) any such loan charge shal! be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected trom $orrower which exceeded E~rmitted limits wil) be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a }~artial prepayment without any prepayment charge under the Note. 13. LeRislation AtTecting Lender's Rights. If enactment or eipiratian of applicable laws has the efTect of rendering any Provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option. may require immediate payment in full of al) sums secured by this Security Instrument and may invoke any remedies ~ermitted by paragraph 14. If Lender exercises this option. Lender shall take the steps specified in the second paragraph of Paragraph !7. 14. Notices. Any notice to Borrower provided for in this Security Instrument shal! be given by delivering it or by mailing it by first class ma~l unless applicable law reyuires use of another method. The notice shall be directed to the Pro~erty Address or any other address Bor{ower designates by notice to Lender. Any notice to Lender shall be given by lirst class mail to Lender's address stated herein or any other address Lender designates by notice to E3orrow•er. Any notice ~~rovided for in this Security Instrument shall be deemed to have been given to I3orrower or Lender wF~en given as provided ! in ~his paragraph. ~ I5. Governin~ Law; Severabitity. This Security instrument shall be governed by federal law~ and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of' this Security Instrument or the Note rnnflicts with applicable law, such conflict shall not afFect other provisions of this Security Instrument or the Note H hich can be given efTect w~ithout the conflicting provision. To this end the provisions of this Se;.urity Instrument and the ~~te~e declared to be severable. 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. R~, 17. T~ansfer of the Property or a Beneficial Interest in Borrower. I( all or any part of the Property or any '~rest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural pe son) without Lender's prior written consent, Lender may, at its optior, require immediate payment in full of all sums secured by this Security Instrument. tiowever, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. If Lender exercises this option, Lender shall give E3orrouer notice o~'acceleration. The notice shall provide a peric?d nat less than 30 days from the date the notice is delivered or mailed within which Barro~~ er must pay ali sums secured by this Security Instrument. If Borrower (ails to pay these sums prior to the expiration of thi~ ~eriod, Lender may invoke any remedies ~ermiued by this Security Instrument a~ithout further notice or demand on Dorrower. 18. Borrower's RiRht to Reinstate. If f3orrower meets certain conditic?n~, Qorrow•er shall have the right to have ; enforcement of this Security [nstrument discontinued a~ any time rrior to the earlier of: 5 days (or such other peric~d as ' arplicable law may specify for reinstatement) Liefore sale of the Pr~perty pursuant to any ~mwer oi sale contained in this Securit~• Listrument; or (b) entry of a judgment enforcing this Security Instrument. Thc~~e conditions are that (3orrower. (a) pays Lender atl sums which then would be due under this Security Instrument and the Note had no acceleration ~~ccurred; {b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Securit}~ Instrument, includir.g, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may reasonably require t~ assure that the lien of this Security In~tn~ment, Lender's rights in the Yroperry and I3c~rroa~er's obligation to pay the sums secured by this Security Instrument shall continue unchanged. U~?on reinstatement by Borrow•er, this Security lnstrument and the obligations secured hereby shall remain ~ullp effectove as if no acceieration had accurred. Ho~ve~er, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17. BO~i~( `t~ P!!GE CI ( U - . - : ~ _ . ~ 4~.: ; -