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Home My WebLink About0994 . ~ ( = k ~ ~~il ~ If Lender reqwred mortgagt insurance as a conduion of making the loan secured by this Secunty Instrument, BurroNer sh~ll pa~~ the premwms rrqui~ed to m~~ntain the insuranre in eflect unt~l such tieu ~stfk rcqwrement for the insuranre termm~trs in accordanre with Borrowet's aad Lrnder's written agrrement or applicabie law. 8. lnspection. Lender or its agent may make reasonable cntria upon and inspections of Ihe Property. Lender shall gi.e BorroN~er notice at the timr oior prior to an i~sspection specifying reasonable cause tor the inspection. 9. Condemnation. The proceeds of any av?ard or ciaim for damages, dircet or conscquential, in connection with un}• condemnation or other taking of any Qart of the Property, or for conveyance in lieu oC con~emnation. are hereby usigned and shall be paid to Lr~der. Irt the event of a total taking of the Prope~ty. the procecds shali be applied to the sums serured by this Security lnstrument, vrhether or not then due, with ~ny excas paid tQ Borrower. In the event of a partial taking of the Property, unitss Borroa~er and Lender otherwise agcet in writing, tht sums secured by this Security Instrument shall be reduced by ~he amount of the Qroceeds multiplied tsy the following fraction: (a) the total amount of the sums secured immediately beforc the t~i:ing, divided by (b) the fair market value of the Property immeriiately before the taking. Any balance shall be paid to Borrower. lf the Property is abandoned by Borrowrr, or if, after notice by Lender to Borrower that the condemnor otTtrs to make a~ aa~ard or settle a claim for damages, Borrower fails to respond to Lender within 30 days atter the date the noticc is given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Praperty or. • to the sums secured by this Security Instrument. whether or not then duc. 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 to in paragraphs 1 and 2 or change the amount of such payments. 10. Borrower Not ReleASeti; Forbear~nce By ~.eader Not s Wairer. Extension of the time for payment or modification of amonization of the sums secured by this Security Instrument granted by Lender to any succasor in interest of Borto~ver shall not opecate to release the liability of the original Borrow•er or Borrower's succasa:s in interest. Lender shall net be required to commcnce proceedings against any succasor in interest or refuse to extend time for pa}•a?ent or otherwise modit~• amortization of the sums secured by this Sccurit~~ Instrument by reason of any demand made by the original Borroaer or Borro~~~er's successors in interest. Any forbearance by Lender in cxercising 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 Liability; Co•signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrowet. subject to the Provisions of p~ragraph 17. Borro~~~er's covenants and agreements shall be joint and several. Any Borrower who casigns this Security Instrument but does not erecute the Note: (a) is casigning this Security Instrument only to mortgage, grant and convey that B~rrower's interest in the Froperty undcr the terms of this Security Instrnment; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend. modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets mazimum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Ioan exceed the permitted limits, then: (a) arry such loan charge shalf be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrow~er which exceeded permitted timits w•ill be refunded to Borrower. Lender may choose to~r:~ak~ this refund by reducing the principal owed under the Note or by making a direct pa~•ment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. ~ 13. Legislation Affecting Lender's Rights. If enactment or ezpiration of applicable law~s has the effect of ~ rendering any provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option, E may require immediate payment in full of ail sums secured by this Security Instrument and may invoke any remedia ~ permitted by paragraph 19. If Lender exercises this optian, Lender shall take the steps specified in the second paragraph of ~ ~ paragraph 17. ~ 14. Notices. Any notice to Borrower providcd Cor in this Security tnstrument shall be given by delivering it or by ~ mailing it by first class mai) unless applicable law requires use of anather method. The notice shall be directed to the R Property Address o~ any other address Borrower designates by notice to Lender. Any notice to Lcnder shall b~ given by ~ first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrow•er. Any notice ~ provided for in this 3~curity Instrument shatl be deemed to have been gi~~en to Borrower or Lender when given as provided ~ in this paragraph. ~ 15. Gorerning Law; Severzbility. This Security Instrument shail be gu~•erned by fedtral law and the !aw of ihe ~ jurisdiction in which the Property is located. In the event that any pru~•ision or clause of this Security Instrument or the ~ Note conflicts with applicable la~v, such conflict shall not afCect other pro~~isions of this Security Instrument or the Note ~ which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. I3orrower's Copy. Borrower shall be given one conformeci cory of the Note and of this Sec~rity Instrument. ~ 17, ~ . INTENTIONALLY OMITTEB ~ ~ ~ - ~ ~ ~ ~ k I~f. Uorrower's Riqht tu Reinstate. If Borrower m:ets certain conditions, Borrow•rr shall ha~e the right to have ~ enforcement o: ehis Secunty Instrument discontinued at any time prior to the earlier of: (a) S days (or such other ~xriod as ~ applicaol~ taN• may s~ ~fy for reinstatement) bef~re sale of the Property pursuant to any power of sale contained in this ~ Secunty Instrument; or (b) entr}• of a Judgment enfotcing this Security Instrument. Those conditions are that Borrower: ~ (a) pa}~s Lendcr all sums which then would be due under this Security instrument and the Note had no acceteration ~ occurred; (b) cures a~y default of any~ other covenants or agreements; (c) pays all expenses incurred in enforcing this Secunt}- Instrumrnt, including, but nut I~mited to. reawnable attorneys (ees: and (d) takes such action as Lender may ~ reasonsbly require to assure that the {ien of this Security Instrument, Lrnder's nghts in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shal! continue unchanged. Upon reinstatement by Horrow~er, this Stcunty Instrument and the obligations secured hereby shall remain fully cffective as ~f no acceleration had 3 accur~ed. Noa~ever, this right to reinstate shall not apply~ in the case of acceteration unda paragraphs 13 or 17. = il$g~ _ ~L1~ e ~ _ ~ r` ~ F-~, ~ f ~f E~: