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Home My WebLink About0933 lf Lender required mortgage insurance as a condition of making the loan secured by this Securi:y lnstrument, Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the ~nsuranre terminates in accordance with Borrowet's and Lender's written agreement or applicabte law. 8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall gi~~e Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with . any condemnation or other taking of any part of the Property, or for canve}•ance in lieu of condemnation, are hereby assigned and shall be paid tu Lender. In the e~~ent of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security [nstrument, whether or not then due, with any excess paid to Borrower. In the event of a partial taking ot the Property, unless Borrow•er and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) ~he fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower. If the Property is abandoned by $orrower, 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 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 to resroration or repair of the Propert}~ 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 pra:eeds to principal shall not extend or ~stpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such pa~~ments. 10. Borrower Not Released; Forbearance By Lender Not a VYsiver. 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 of Borrower shall not operate to release the liability of the original Borrow•er or Borrow~er's successors in interest. Lender shall not be required to commence proceedings against any suc~essor in interest or refuse to extend time for payment or otherw~ise modify amortization of the sums secured by this Securit}• Instrument bp reason of any demand made by the original Borrow~er or Borroaer's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise flf any right or remedy. 11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants aRd agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. An~~ Borrower w~ho co-signs this Security Instrument but does not ezecute the Note: (a) is co-signing this Secucity Instrument only to mortgage, grant and convey that Borrower's interest in the Property 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 anp other $orrow~er may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note w~thout that Borrower's consent. 12. Loan Charges. If the loan secured b~~ this Security Instrument is subject to a law w~hich sets maximum loan charges, and that law is finaiiy interpreted so that the interest or other loan charges collected or to be collected in connection «ith the loan exceed tFe permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose ro make this refund by reducing the principal ow~ed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge un~er the Note. 13. Legislation Affecting Lender's Rights. If enactment or expiration of applicable law•s has the effect of ~ rendering any provision of the Note or this Security Instrument unenferceable according t~ its terms, Lender, at its option. i rr~ay require immediate pa}~ment in (ull of al! sums secured b~• this Securit} Instrument and ma}• in~oke any remedies ~ermitted by paragraph 19. If Lender exercisn this option, Lender shall take the steps specified in the second paragraph of ~ ~aragraph 17. _ 14. \otices. Any notice to Borrow~er provided for in this Sec:urit~ [nstrument shall be gi~ en b}• deli~~ering it or by , j mailing it by first class mail unless applicable law reyuires use of another method. The notice shali be directed to the I ~ Property Address or an~• other address Borrow•er designates by notice to Lender. An~~ nutice to Lender shali be gi~~en by ; nrst class mail to Lender's address stated herein or an~• other address Lender d~~ignates by notice to Borrow~er_ An}• notice ~ provided for in this Security Instrument shall be deemed to have been gi~~en to F3orrower or Lender w•hen given as proti~ided g in this paragraph. € 15. Governing Law; Severability. This Securit}~ Instrument shall be go~~erned b}~ federal law~ and the la~~~ of the iurisdiction in w•hich the Property is located. In the event that any pru~•ision or clause of this Security Instrument or the ~ tiote conflicts with applicable law~, such conflict shall not affect other provisions of this Security Instrument or the Note ~ H hich can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the tiote are declared to be severable. ~ Ib. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Securit~• Instrument. ~ 17. Transfer of the Property or a Beneficial Interest in Borrower. If all or an}~ part of the Property or any~ ~ ~ interest in it is sold or transferred (or if a beneficial interest in Borrow~er is sold or transferred and Borrow~er is not a natural ~ ~rsan) w~ithout L~nder's prior written consent, Lender may~, at its option, require immediate payment in full of all sums ~ secured b}~ this Security Instrument. However, this option shall not be exercised by Lender if exercise is pr~hibited by = federal Iaw• as of the date of this Security Instrument. If Lender exercises this option, Lender shall give Borrow~er notice o(' acceleration. The notice shall pro~ ide a peric~d of not less than 30 days from the date the notice is delivered or maited w~ithin which Borrow~er must pa}~ all sums secured by - this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this ~eriod, Lender may invoke an}• ~ remedies permitted by this Security Instrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditi~ns, Borrow•er shal) have the right to have ; enforcement of this Security instrument discontinued at any time prior to the earlier of: {a) 5 days {or such other period as ; applicable laa may spec~fv for reinstatement) before sale of the Property pursuant to any Fwwer of sale contained in this Security Instrument; or (b) entry of a judgment enforcing this Security instrument: Those conditions are that Aorrower: ~ (a) pays Lender all sums which then would be due under this Security Instrument and the Note had no acceleration ~ occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this 3 Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as L,ender may ~ reasonably require ro assure that the lien of this Security~ Instrument, Lender's rights in the Property and Borrower's - obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by ' Borrower, this Security Instrument and the obligations secured hereby shali remain fulfy effective as if no acceleration had ~ occurred. Hoa~ever, this ri ht to reinstate shall not a 1 in the case of acceleration under ara ra hs 13 or 17. ~ 8 PPY P B~P ~ ~ 7~,~x467 P~JE 933 ~ ~ - - - - _ . n: f~a { ~r.-.,:.~ 5..~ •=,'r ~~a