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Home My WebLink About0969 If Lender requircd mongage insurance as a cond~t~on of makmg the loan xtiureci b}~ thi. Sctiun~y In~trument, Burrow~er shall pay the prem~ums required to mainta~n the insurance in effect until wrh nmr thr rryu~remrnt fi~r thr msurance terminates in accordance with Burrower's and Lender's w~ntten agrermem ~~r appl~rable law . 8. Inspection. Lrnder or its agent may make reasonable ~ntries upon and ~ns~tiorss of ~he Pro~rty I.ender shall give Borrow~er notice at the time of or pnor to an inspc-~tion specify~ng reasonable rause fi~r the ins~uon. 9. Condemnation. The proceeds of any award or claim Cor d:~mages, dircct or ~onsryuenhal, in a~nneru~~n with any condemnation or other taking of any part uf the Property, or for conveyance in lieu of condemnat~un, are hereby assigned and shall be paid to Lender. In the event of a total taking of the Property, the pra;eeds shall be applied to the sums secured by this Serurit~• Instrument, whether or not then siue, with any excess paid to Borrower. !n the e~~ent of a partial tak~ng of the Property, unless Borrower and Gender otherwise agree in wnting, the sums secured b}• this Secunty~ Instrument shall be reduced by the amount of the proceeds multiplied by the fallowing fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market vatue of the Property immediately before the taking. Any balance shall be paid to Bonow~er. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrow•er that the condemnor afTers to make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the proceeds, at its option, either ro restorati~~n or repair of the Pro~rt}~ or to 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 shall not extend or postpone the due date of the monthly payments referred t~ in paragraphs 1 and 2 or change the amount of such payments. 10. Borrower Not Released; Forbearance By Lender 1~'ot a Waiver. Extension af the time for payment or ~ modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Bonower shall not operate to release the liability of the original Borrower or Borrow~er'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 Security~ Instrument by reason of any demand made by the original Borrower or Borrower's successors in ~nterest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy_ I1. Saccessors and Assigns Bound; Joint and Several Lisbility; Co-signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions E of paragraph 17. Borrower's covenants and agreements shall be joint and sev~: al. Any Borrower who co-signs this Security ~ Instrument but does not execute the Note: (a) is co-signing this Secunty Instrument onl}• to mortgage, grar~t and con~~e}~ that Bonower's interest in the Property under the terms of this Security [nstrument; (b) is not personally obligated to pay ~ the sums secured by this Security Instrument; and (c) agrees that Lender and an~~ other Borrower map agree to extend, ~ modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note w~ithoui € that Borrower's consent. ; 12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets marimum loan ~ charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collecred in ~ connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount f ne~essary to reduce the charge to the permitted limit; and (b) any sums already~ c~llected from Borrower w•hich exreeded ~ permitted timits will 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 Borrow~er. If a refund reduces principal, the reduction w~ill be treated as a partial prepayment without any prepayment charge under the Note. i 13. Legislation Afieeting Lender's Rights. If enactment or expiration of applicable law~s has the etTect of ~ rendering any provision of the Note or this Security Instrument unenforceable a~cording to its terms, Lender, at its option, c may require immediate payment in full of all sums secured by this Securit~~ Instrument and may in~~oke any remedies ~ permitted by paragraph 19. If Lender exercises this ~ption, Lender shall take the s[eps specified in the second paragraph c~f a ¢ paragraph 17. 14. Notices. Any notice to Borrower provided For in this Security Instrument shall tx given b}~ delivering rt or by~ ; mailing it by first class mail unless applicable !aw requires use of another method. The notice shall be directed to the a Property Address or any other address Borrower designates by notice to Lender. An}~ notice to Lender shall be gi~en b} ~ first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrow•er. An}~ notice ~ provided for in this Security Instrument shall be deemed to have been gi~~en to Borraw~er nr Lender w~hen given as provided ~ in this paragraph. ~ 15. Governing Law; Severability. This Security Instrument shall be governed b}• (ederal law• and the law~ of the jurisdiction in which the Froperty is located. In the event that an}~ pro~~ision or clause of this Secunt}~ Intitrument ar the ~ Note conflicts with applicable law, such conflict shall not affect other provis:ons af this Security~ Instr~ment or the Nc~te E which can be given effect without the conflicting provisio~. To this end the pro~•isions of this Security lnstrument and the ~ ;v`ote are declared to be severable. 16. Boreower's Copy. Borrower shall be given one conformed ropy of the Note and of thi~ Securit~ I nstrument. 17. Transfer of the Property or a Beneficial Interest in Borrower. If all or an~ part of the Yrc~perty or an}• ~ interest in it is sold or transferred (or if a beneficial interest in Borrow~er is sald or transferred and Bormw•er iti not a natural p person) without Lender's prior written consent, LPnder ma}•, at its opticn, require immediate pa}~ment in full ~f all sums secured by this Security Instrument. However, this option shaU not be exercitied b~' Lender if exerc~se ~ti pr<~hibited hy federal !aw as of the date of this Security Instrument. ' If Lender exercises this option, Lender shall give Borr~wer n~tice of acceleration. The notice shall ~r~n ide a peric~d of not less than 30 days from the date the notice is delivered or mailed w~ithin which Borrow•er mutit pa} all wms ~ecured hy this Security Instrvment. If Borrower fails to pay these sums pnor to the expiration of'th~ti pc riod. I.ender ma~ in~ ~~ke an~ remedies permitted by this Security Inst~ument w~ithout further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meet5 cenain ronditi~nt, Borrow~er tihall ha~e tne nght t~~ ha~e ' enforcement of this Seeurity Instrument discontinued at an}~ time prior to the earlier ~f: (a j 5 dayti (~i: such c~ther penod a~ applicable law may specify for reinstarement) before sale of the Yroperty~ purtuant tc~ any~ ~wer ni tiale cc~ntained in thiti Security Instrumen~; or fb) entry of a jud~ment enforcing this Security Instrument. Thote ccmdii~~nt are that B~rrower: (a) pays Lender all sums which then w•ould be due under this Securit} instrument and the tiote had n<~ acceleratic~n occurred; (b) cures any default of any~ other covenants or agreements: (c) pa}~s all expen~eti incurreci ~n enfcircing thiti Security Instrument, including, b,it not lim~ted to, reasonable attorney~t' fees; and (d) take~ wch acti~~n a~ Lender ma~~ reasor.ably require to assure that the lien of thts Security Instrument. I.ender'S r~ghu in the Pr~~pert~• and Bc~rro~•er'ti obligation to pay~ the sums secured by this Secunt}~ Instrument ~hall c~ntinue unchanged. U~n reinstatement by Borrower, this Secunt~~ Inst: ument and the obiigauons secured hereb}~ shaU remain fully efTecuve ati ~f no acceierauon had occ~rred. However, this nght to re~nstate shall not appl~ in the ca~e c~f accelerah~in under paragraphti 13 or 1?. J~~+~1'. f - -S r z~. ~,~-w T'~"'''y i~: ~~~j`~,.~=~-~ . ~,F^~~~'~~~a~~