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Home My WebLink About0970 . ~1CG ~ ~ If Lender rrqwrrd mortgagt tnsuranct as a condiuon of mak~ng the toa:~ sctiurcd by this Sc~;unty Instrumrnt, Borrov?~er shall pay the premiurtu rcauired to mainta~n the insurance ir~ eRrct until such Ume as the requirement for the insurance terminat~., in accordance with Borcowcr's and Lender's wntten agrtemcnt or applicable Iaw. 8. Iasptction. Lendcr or its ager~t may make reasonable entria upon and inspections of eh~ Property. Lender shall give Borower notict at the time uf or prior to an inspcct~on specifying reasonable cause for the insprction. 9. Coademaatioe. The procecds of any aaard ur claim for damages, direct or consequential, in conntction with any condemnasion or other taking of any part ~f the Property, or far conveyance in litu of cortdemnation, are hereby assigned and shall be paid to Lrnder. - In the event of a total taking of the Property, the procce~s shall be appli~d to the sums secured by ttiis Security Instrument, v?-hether or not then dae, with any excess paid to Borcower. In the event of a partial taking of the Property. unless Borrower and l.ender otherwise agree in w•riting, ~he sums secured by this Security lnstrument shall be reduced by the amount of the proceeds multiplied by the Collowing fraction: (a) the total a~nount of the sums sec:ured immediately before the taking, divided by (b) the fair market ~alue of the Property immediately before the taking. Any balance shall be paid to Borrower. If the Property is abandoned by Borrower, or if, after notice by I.ender to Borrower that the condemnor otfers to m~ke an award or settle a claim for ~amages. Borrower fai'-s to respond to Lender w~ithin 30 days aRer the date the notice is given, Lender is authorized to collect and apply the pra:eeds, at its option, either to restoration ot repxir of the P~oE+ert~ ~r to the sums secured by this Security Instrument, whether or not then due. L~nless Lender and Borcower otherwise agree in writing. any application of proceeds to principal shall not extend or postpone the due date of the monthly payments refened to in paragraphs 1 and 2 or change the amount of such payments. _ 10. Borrower Not Released; Forbearance By l.ender Not a VVaiver. Eztension of the time for payment or modi6cation of amortization of the sums secured by this Security Instrument .granted by Lender to any successor in interest of Borrower shall noi operate to r~tease the liability of the original Borrower or Borcower's successors in interest. Lender shall not be required so commence proceedings against any successor in interest or refuse to eatend time for payment or otherwise modiPy amortization of the sums secured by this Security Instrument by reason of any demand made by tht original Bonower or Bonower's successors in interest. Any forbearance by Lender in eaercising any right o, rem~dy shall not be a waiver of or preclude the exercise of any right or remedy. 11. Successors and Assi~s Bouad; Joiat and Se~eral Liability; Co-siguers. The covenants and agraments of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subjxt to the provisions of paragraph 17. Borrower's covenants and agreements shal! be joint and several. Any Borrower who co-signs this Security Instrument but dces not eaecute the Note: (a) is casigning this Security Instrumen: only to mortgage, grant and convey that Borcower's interest in the Propeny under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any ather Borrower may agrec to ettend, - madify. forbear ~r make any accommodations with regard to the terms af this Security Instrnment or the Note without that Borcower's consent. 12. Loan C68rges. 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 coilected or to be collected in connection with the loan exceed the permitted limits, theR: (a) any such loan ~harge shall be reduced by the amount necessary to red~xce the charge to the permitted limit; and (b) any sums already collected from Borrower whieh eaceeded permitted limits will be refunded to Bonower. Lerder may choose to make this refund by reducing the principal ovod unaer the Note or by making a direct payment to Borrower. If a refcnd reduces principal, the reduction will be treated as a partial prepaym~t without any prepayment charge under the Note. 13. Legislation Affecting I.ender's Rights. If enactment or expiration of appiicable laws has the elfect of rendering any provisian of tbe Note or this Security Instrumenf unenforceable according to its t~rms, Lender, at its option, may require immediate payment in full of all sums se.:ured by this Security Instrurrent and may invoke any remedies permittea by paragraph 19. If Len~er exercises this option, Lender shall take the steps specified m the second paragraph of ~ paragraph 17. 14. Notices. Any notice to Borrow•er provided for in this Securit}• Instrument shall be given by delivering it or by ~ mailing it by first class mail unless applicabl~ law requires use of another method. The notice shall be directed to the j Property Address or any o~her address Borrower designates by notice to I,ender. Any notice to Lender shall be given by ~ first class mail to Lender's address stated herein or any other address Lender designates by notice to Bonower. Any notice f provided for in this Securit~~ Instrlcnent shal) be deemed to have been given to Borrower or Lender when given as provided ~ in this paragraph. ~ 15. Goveraing Law; Severability. This Securit~~ Instrument shall be governed by fed~ra! law and the law of the ~ jurisdiction in which the Property is located. In the event that any provision or clause of ;his Security Instr~ment or cne Note confliets w:th applicable law, such conflict shail not aflect other provisions of this Se: ~~ziiy Instrument or the Note ~ which can be given effect wiihout the conflicting provision. To this end the provisions of ihis ~ecurity Instrument and the ~ Note ar~ declared to be severable. 16. Borrower's Copy. Borrower shall be given one confo; med copy of the Note and of this Security Instrument. ~ 17. Transfer of the Prope~~ty or a Beneficial Interest in Bonorver. If al) or any part of the Property or any ~ interest in it is sold or transferred (or if a beneficial inte:est in Bor*ower is sold or transferred and Borrower is not a natural person) v?~ithout Lender's prior written cons~nt, Lender may, at its optien, require immediate payment in ful! of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by Federal lau• as of the date of this Security Instrument. If Lender exerc'sses tt~~s option, L~nder shall give Borrower notice of acce{er~t:on. T~e notice shall provide a period of not less than 30 days from the date th.; notice is delivered or mailed within which Borrower must pay ~ll sums secured by ~ this Security Instrument. It Borrower fails te pay these sums pri~r to the exptrati~n of this pericxi, i.ender may invoke any remedies permitted bv this Secur~ty Instrument withou: ;urther notice or demand or. Borrower. ; 18. Borrower's Rig6t to Reinstrate. If Borrov?er meets certain conditions, Borrower shall have the r?ghi to have ' enforcement of th:s Securty Instrument discontinued at any time prior to the earlier of• (a) 5 days (or such other period as r applicable law may specify for reinstatement) before sale of the Propercy purstiant to ~ny power of sate contained ir~ ihis ~ ! Security Instr~ameni; or {b) entry of a ~u3~ment enfo:cing this Security Instrument. Tha~~e conditions ue that Borro:~ver. ~ (a) pays Lender all su;ns which then would be due un~er this Sec~~rity Instrument and tt~e Note had nc acce}~eration occurred; (b) cures any d~fault c, any other covenants or agreernents; (c) pays all expenses incurre+.i in enforcing this ~ Security Instrume~t, including, but not limited to, reasonable attorneys' fPes; and (d) takes such action as Lrnder may reasanably require to assure tt;at the lien of this Sccurity Instrument, L,ender's righis in the Property and Bonower's obligation to pay the sums secur~d by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security In~trument and the obli~ations secured hereby shall remain fully efl'ective as if no acceleration had ; accurred. However, this right tu reinstate shal~ not apply in t~e case of acceleration under paragraphs 13 or 17. ~ ' ' a 1(~828-3 JP ~ " 45r6 P~ ~ • • . ~ ~ ~ ~ ~ . ~ - ~