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Home My WebLink About0929 ~ i . ~ If Lender reyuired mortgage insurance as a condition of mak~ng the I~~an sc~ured by Ihis Security Instrument, Aorrow~er shall pa~ the premiums required to maintain the ~nsurance in eftect until such time as the reyuirement fi~r the insurancr terminatrs in accordance with Borrowe~'s and Lender's written agreement or applicable law. ' 8. Inspection. Lender or its agent may make reasonable entries u~n and inspections of the Property. Lender shalt give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 9. Condemnatio~. The prckeeds oC an~• award or claim for damages, direct or consequential, in connec:tion w•ith an}• cundemnation or other taking of any part of the Property, or fi~r romeyanre in lieu of condemnation, are hereby assigned and shall be paid to Lender. In the e~ent of a total taking of the Property, the proc;eeds shall be applird ta the sums secured by lhis Serurity Instrument, ti~hether or not then due, ~•ith any excess paid to Borrow•er. In the e~~ent of a partial taking of the Property, unfetis [3orrower and Lender otherw•ise agree in writing, the sums secured by this Sec:urity Instrument shall be reduced by the amount of th~ prcxeeds multiplied b~~ the following fraction: (a) the total amount of the sums secured immediately heti~re the taking, di~ ided b~~ (b) the fair market value of the Property immediatel}• befi~re the taking_ Any balance shall be paid to Borrow~er. U the Prupert~• is abandoned by Borrower, or if, after notire b~~ Lender to Borrower that the condemnor otTers to make an aw~;~rd or settle ~laim for damages, Borrower failti to res~nd to Lender ~•ithin 30 days after the date the notice is gi~en. Lender is authorized to collect and appl~~ the pr~eeds, at its option, eith~r t~~ restoraticm or repair of the Yropert~• or to the sums secured b}~ this Security lnstrument, whether or not then due. l;nlc~ss Lender and Borrow•er otherw•ise agree in writing, any application uf pr~reds to principal shall not extend or Fx~stFx~ne the due date of the monthl}~ payments referrzd to in paragraphs 1 and ? or change the amount of such payments. 10. Borrower \ot Released; Forbearance By Lender '.Vot a~~'airer. Extension of the time for pa~~ment or mociification of amortizati~n of the sums seeured by this Security Instrument granted by Lender to any successor in interest of Borrow~er shall not operate to release the liability of the original Borrower ur Burrow~er's successors in interest. Lender shall not be required to rommence proceedings against an}• succc~sor in interest or refuse to extend time for pa}~ment or other~cise modif}~ amortizatic~n of the sums secured by this Securit~~ Instrument by reason of any demand made b~~ the ~~riginal Borrower or Borr~~~~er's succes~ors in interest. Any forbearance h~~ Lender in exercising an}~ right or remedy shall not be a w•aiver of ur preclude the exer~ise of any right or remedy. I1. Suceessors and Assigns Bound; Joint and Several I.iability; Co-signe~s. The covenants and agreements of this Securit~~ Inst rument shall bind and benefit the successors and assignti of Lender and Borrower, subject to the pro~~isions of p~ragraph 17. Beirrow~er's co~~rnants and agreements shall be joint and several. An}~ Borrower w~ho co-signs this Security In~trument hut doeti n~~t execute the tiatr: f~? ?s ro-signing this Securit~~ Instrument only to mortgage, grant and com~ey that Borrow~er's interest in the Ympert~ under the terms of this Securit}~ Instrument; (b) is not personally obligated to pa}• the ~um~ secured b~• thi~ Securit~~ Instrument; and (c) agrees that Lender and an~~ c~ther Borrower may agree to extend, modify, forbear or make an~~ accommodations w•ith regard to the terms of this Security Instrument or the Note v?~ithout that Borrow~er's ronsent. 12. Loan Char~es. If the loan secured b}~ this Securit}• Instrument is subject to a law~ w~hich sets maximum loan charges, and that law~ is finally~ interpreted so that the interest or other loan charges collected or to be collecteci in connectic~n with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced b}• the amount necessar} to reduce the charge t~ the permitted limit; and (b) any~ sums alread}~ colleeted from Borrow~er which exceeded permitted limits will be refunded te~ Borrow~er. Lender map choose to make this refund by reducing the principal owed under the Note or by making a direct pa~•ment ro Borrower. If a refund reduces principal, the reduction will be treated as a partial prepaymenl without an}~ prepa}•ment charge under the \'c~te. 13. Legislation Affeeting Lender's Rights. If enactment or expiration of a~plicable law~s has the ef~ect of rendering an~~ provision of the Note or this Security~ Instrument unenfurreable according to its terms, Lender, at its option, may require immediate pa}ment in full of all tums secured b~ this Securit~ Instrument and may in~~oke any remedies permitted by paragraph 19. tf Lender exercises this option, Lender shall take the steps s~xcified in the second paragraph of paragraph 17. 14. ~otices. An}• n<~tire t~~ Horrower pro~ ided for in this Securitg• !ns[rument shal) be given by delivering it or b~- mailing it b}~ first class mail unless applicable law reyuires utie c~f another method. The notice shall be directed to the ; Pr~perty~ Address or an}~ other addretis Borrow•er designates by notice to Lender. An}~ notice to Lender shall be given by ~ first class mail to Lender', address stated herein or an}• other addres~ Lender designates b~• notice to Borrow•er. An} nolice j E pro~ided for in thi` Security Instrument shal) be deemed to ha~e been gi~~en to Borrc~w-cr or Lender w~hen given as provided 6 in this paragraph. ~ ~ 15. Go~•erning Law~; Severabilit~~. This Securit~~ lnstrument shall be gu~~erned by~ federal law and the law of the i jurisdiction in which the Propen}~ is located. In the e~~ent that an~ prc~~•ision or clause af this Security Intitrument or the j Note conflicts with applicable law, such conflict shall not affect other provisions of this Securit}~ Instrument or the Note ~ ~ w ninc ~an be given efi'ect w~ithout the ronflicting pro~~ision. To this end the prc~visions of this Security Instrument and the ~ tiote are declared ro be severable. t. ~ 16. Borrower's Copy. Borrow~er shall be given one conformed copy af the Note and of this Securit}• Instrument. ~ l7. Traresfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Pro~rty or any~ ~ interest in it is sold or transferred (or if a beneficial interest in Borrow~er is sold or transferred and Borrower is not a natural ~ person) w~ithout Lender's prior written consent. Lender ma~~, at its option, require immediate payment in full of ali sums ~ secured b}~ this Securit}~ Instrument. Howe~er, this option shall nor be exercised by Lender if exercise is prohibited b~~ - federal :aw~ as of the date af th~s Security lnstrument. ` If Lender exerciseti this option, Lender shall give Borrower notice of acceleratian. The notice shall provide a period f of not less than 30 days from the date the notice is delivered or mailed within which Borrow~er must pay all sums secured by ` this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without funher notice or de+nand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditi~ns, Borrower shall have the right to have ~ enforcement o''this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as ~ applicaole law~ may~ spec~fy for resnstatement) before sale of the Property pursuant to any power oEsale contained in this ~ Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower. ~ (a) pa}~s Lender all sums which then would be due under this Security Instrument and the Note had n~ acceleration ~ occurred; (b) cures any deiault of any other covenants or agreements; (c) pays all expenses incurred in enforcing this ~ Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as L.ender may € reasonably require to assure that the lien of this Security Instrument, Lender's nghts in the Property and Borrower's ~ obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this 5ecurity Instrum~nt and the obligations secured hereby shall remain fu!!y eRective as if no acceleration had ~ occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17. E (;i! ~ ~ ~74 . _ . _ - - ~ - _