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Home My WebLink About0963 lf Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, BorroH•er shall pa}~ the premiums required to maintain the ~nsurance in effect until such time xs the requirement for the insurance terminates in accordance w•ith Borrow•et's and Lender's written agreement or applicable law. 8. Inspection, Lender or its agent may make reasonahle entries upc>n and inspections of the Property. Lender shall gi~ e Borrow•er notice at the time of or prior to an inspection specifying reasanable cause for the inspection. 9. Condemnation. The pra;eeds ot~any award os claim for damages, direct or consequential, in cannection with any condzmnation or other taking of any part of the Property, or for con~•e~~ance in lieu of condemnation, are hereb~• assign2u and shal! be paio io Lende~ . In the event of a total taking cif the Property, ihe proceeds shali be applied to the sums secured by this Security lostrUmznt, whether ~r not then due, with any excess paid to Borrower. ln the e~~ent of a partial taking of the Property, unless Borrow~er and Lender otherwise agree in writing, the sums secured bp this Securit~• Instrument shal! be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediatel~ before th. taking, divided by (b) the fair market value of the Property~ immediately before the taking. Any balance shall be paid to Borrow•er. If the Propertp is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to res~nd to Lender w~ithin 30 da}•s after the date the notice is given, Lender is authorized to collect and apply the proceeds, at i~s option, either to resturation or repair of the Propert~~ or to the sums secured by this Security Instrument, a•hether or not then due. LJnless Lender and Borrower otherwise a~ree in writing, any apptication of proceeds to prinripai shall not extend or postpone the due date of the monthlp payments referred to in paragraphs 1 and 2 or change the amc~unt of such payments. 10. Borrower ~iot Released; Forbea~ance By Lender Not a~L'aiver, Extension of the time for pa}~ment or modification of amortization of the surns secured by this Securit}~ Instrument granted b}~ Lender to any successor in interest of Borrower shall not operate to release the liability of the origina) Borrow•er or Borrower's successors in interest. Lender shall not be required to commence proceedings against an~~ succ~~sur in interest or refuse to extend time for payment ar otherH~ise mociif}~ amortization of the sums secured by this Security Instrument b~• reason oi~ any demand made b}~ the original Borro~~•er or BorroH~er's sucressors in interesL Any (orbearance b~~ Lender in exercising any right or remedy shall not be a waiver ot'or preclude the exercise of any~ right or remed}•. 11. Successo~s and Assigns Sound; Joint and Several I.iability; Co-signers. The covenants and agreements of this Securitp Instrumeni shal! bind and benefit the successors and assigns ol Lender and Borrower, subje~t to the provisiuns of paragraph 17. Borrow~er's covenants and agreements shall be joint and se~•erai. Any Borrow~er w~ho co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Securit}~ Inst~ument onty to mortgage, grant and com~ey~ that Borrow~er's interest in the Property under ihe terms of this Securit}• Instrument; (b) is not personaily obligated to pay the sums secured by this Security lnstrument; and (r) agrees that Lender and an~• other Borrow•er may agree to extend, modify, forbear or make an~~ accommodations Wit1~ regard ta the terms of this Security Instrument or the Note without that Borrow~er's consent. 12. I.oan Charges. If the loan secured b}• this Securit}~ Instrument is subject to a law• N~hich sets maximum loan charges, and that law~ is finally interpreted so that the interest or other luan charges collected or to be colle~:ted in connection with the loan exceed the permitted limits, then: (a) any such loan charge tihall be reduced b}• the amount necessary to reduce the charge to the permitted limit; and (b) an~~ sums already collected from Borrower which exceeded permitted limits will be refunded to Borro~~er. Lender may choose to make this refond b~~ reduring the principal ow~ed under the Note or by making a direct payment to Borro«er. If a refund reduces prin~ipal, the reductian w~ill be treated as a partial prepa}~ment w•ithout an}~ prepayment charge under the I~'ote. l3. Legislation AtFecting I.ender's Rights. If enactment c~r ex~iration ~~f applicable law~s has the effect of , rendering an}• pco.•ision of the':Vote or this Securit~- lnstrument unenfi~rceable arrc~rding to its terms, Lender, at its option, ~ ma~~ require immediate pa}•ment in full of all sums tiecured b}~ this Se~urit} Inttrument and ma}~ invoke any remedic~ permitted by paragraph 19. If Lender exercises this option, Lender shall take the ste~; sperified in the second paragraph of ~ paragraph 17. ~ 14. \otices. An~~ noti~e to Borrower provided for in this Securit} Instrument shall be gi~•en b}• deli~~ering it or b~~ mailing it b}~ first class mail unless applicable law• requires use c~f ane~ther method. The notire shall be directed to the Propert}~ Ad~ress or an~~ other address Borrow•er designates b~~ notice to Lender. An}• natice to Lender shall be given by~ ~ hrst class mail to Lender's address stated herein or an}• other address Lender designatc~ b~ notice to Borrow~er. An}~ notice ~ ~ro~•ided for in this Securit}- Instrument shall he deemed to ha~e been gi~rn to Borrou~e~ c~r Lender u•heo given as provided ~ in this paragraph. ~ 15. Governing Law; Severabitit~•. `fhis Securit~• Imtrument tihall i~r g~nerned by federal law and the law~ of the jurisdictian in w~hich the Property~ is located. In the event that an~~ pri~.ision ~r rlause of this Securit~~ Instrument or the ~ tiote conHicts w•ith applicable law, such ronfli~t shall not afi'ect other ~rovisions ~f'this Secority Instrument or the Note ~ ~ti hich can be given effect w~ithout the conflicting pro~~ision. To this end the prucisio~~s of this Security Instrument and the tiote are declared to be severable. ~ 16. Borrower's Copy~. Borrower shall br gi~en one conformed cop~~ of the Note and of this Securit~• Instrument. < 17. Transfer of the Yroperty oa a Beneficial Interest in Borrower. If all or an~~ part of the Property or any 5 i r~st in it is sold or transferred (or if a beneficial iriterest in Bormwer is sold or iransferred and Borrow~er is not a natural ~ ~~on) without Lender's prior written consent, Lender may~, at its o~tion, require immediate pa~~ment in full of all sums ~ ecured b}• this Securit}~ Instrument. Now~e~er, this option shall not t~e exercised by~ Lender if exercise i~ prohibited by ~ ~~~federal law~ as of the date of this Security~ Instrument. IC Lender exercises thi~ option. Lender shall gi~~e Aorrow~er notice of accelerxtion. The n~tice shal! provide a period c~f' not lels than 30 da}~s from the date the notice is delivered or mailed ~ithin which Borrower must pay~ all sums secured hy this Securit~~ Instrument. I( Borrower fails ro pay these sums prior to the expiration of this Fxricxi, Lender may invoke an}~ remedies permitted b}• this Security Instrument without further notice or demand on Borro«~er. 1$. Borrow~er's Right to Reinstate. If Borrower meets certain conditi~ns, 8orrow~er shall have the right to have enforcement of this Security Instrument discontinued at an}~ time prior to the earlier of: (a) 5 days (or such other period as applicaole law~ ma~• spec~f}~ for reinstatement) before sale of the Property pursuant to any power of sale contained in this ~ Securit}• Instrumenr, or (b) entry~ of a judgment enforcing t~is Security Instrument. Those conditions are thai Borrower: (a) pa}•s Lender all sums which then w~ould be due under this Security Instrument and the Note had no acceleration oc~urred: (b} cures any default of any other covenants or agreements; (c) pays ail expenses incurred in enforcing this - Securit~~ Instrument, including, but not limited to, reasanable attorneys' fees; and (d) takes such action as Lender may . reasonably require t~ assure that the lien of this Security Instrument, Lender's rights in the Property and B~rrower's obligation to pay~ the sums secured b}~ this Security instrument shal{ continue unchanged. lJpon reinstatement by Borrow~er, this Securit}~ Instrument and the obligations secured hereby shall remain fully effective as it' no acceleration had occurred. ~1ow~ever, this right to reinstate shall not appl~ in the case of acceleration under paragraphs 13 or 17. b~~x 4s3 P~~f ~q # j 3 ~ . ' . _ ~ _ ~"ii~-x`~~Si~~~ .ae"r~,bi~s'-~''es~~