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Home My WebLink About0954 . ~t # If Lender rtquircd mortgage insurance as a condition of making the loan securod by ~his Serurity Instrum~nt, So:::.a•.: s!:~!! :he ~:t.^.tiur.:s S~Llf+~ r~ mg~ntg~~ the ensur~nce in etfect untii such time as the requirement ior ine insurance terminates in accordanco with Barrow~r's and l.ender's written agreement or applicable law. 8. IaspecHon. Le*~der or its agtnt may make reasonable entries upon and inspections of the Property. Lender shall g~ve Borrower notice at t~e time of or prior to an inspection specifying rcasonable csu:,e for ttie inspection. 9. Coademaatioa. The proceeds :~f any award or claim for damages, direct or consequential, in connection with any condemnation or othrr taking of any part of :he Propeny. or for conveyance ~n lieu of condemnation, are h~reby assigned and shall be paid to Lender. In the event of a total taking of the Property, the proceed~ shali be applied to the sums secured by this Security Instrument. whether or not then due, with any excess paid to Borrower. ln the event of a partial taking of the Propertv, unless Borrower and Lender otherwise agree in writing, the sums secured by this Securit~ Ir+strument shall be reduced by the am~unt of the procuds multipliod by the following fraction: (a) the total amount of the sums secured immediat~ly ~before the taking, d:vided by (b) the tair market value of the Property immediately before the taking Any balance shall be paid to Bonower. If the Property is abandoncd by 8orro~ver, or if, after notice by Lender to Borruwer that t~~e con~emnor ofiers to maice an sward or settle a claim for damages, Bonower fails to respond to Ltnder within 30 days atter the date the notice is given, Lender is suthorized ta collect and apply the proceeds, at its option, either to restorati~ i:~r reQair of the Property or to the sums secured by this Security Instrument. wheth~r or not then due. Unless Lender and Borrower otherwise agrce ~n writing, any applicat~on of proceeds to principal shall not extend or postpone the due d.~te of the monthly payments referred to in paragraphs 1 and 2 or change the amount oi'such paymen~s. 10. Borrower Not Released; Fflrbearance By Lender Not a Wai~er. Extension of the time for payment or modification of amortization of tht sums socured by this Sxurity lnstrument granted by I.ender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or BQrrower's successors i~ interest. Gender shall not be requirod to commence proceedings against any successor in interest or refuse to extend time tor psyment or otherwise madify amortization of the sums secnred by this Secucity Instrument by reason of any demand made by the originat Borrower or Bottower's successnrs in interest. Any forbearance by 1_.ender in eaercising any right or remedy shall not be a waiver of or preciude the exercise of any nght or remedy. ll. Successors aad Assi~s Bound; Joint and Sereral Liability; 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 of paragraph 17. Bonower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does. not eaecute the Note: (a) is casigning this Security Instrument only to mortgage, grant and convey that Borrower's iRterest in the Property under the terms of this Security Instrument; (b) is not personally obligatcd to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modefy, forbear or make any accommaiations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 12. Loan Charges. If the lo~n secured by this Security Instrument is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in conneetion a~iih the loan ezeced the permitted limits, then: (a) any such loan charge shall be reduced by ti?e amount necessary to reduce the charge to the permitted !irnit; and (b) any sums already collected from Bonower which exceeded permitted limits will be refunded to Borrower. I.ender may choose to make this refund by reducing the p~incipal owed u:~der the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a par:ial prepayment without any prepayme~t charge under the Note. 13. Legislation AtTectiag I.ender's Rights. If enactment or expiration of applicable laws has the eflect of rendering any provision of the Note or this Secu: ity Instrument unenforceable according to its terms, Lender, at its opdon, f may require immediate payment in full of all sums secured by this Security Instrument and may invoke any :~me>dies ~ permittod by paragraph 19. If L.ender exercises ti~is option, Ixnder shall take the steps specified in the second p~::t~;ra~5 of ~ paragraph 17_ 14. Notices. Any notice to Borrow~r provided for in this Security Instrument shall h~ given by oelivering it or by mailing it by first class mail unless a~plicable law req~ires use of another method. The notice shall be directed to the ~ Property Address or any other address Borrower des:gnates by notice to Lender. 4ny notice to Lender shall be given by first class mail to Lender's address stated herein or any other address Lencler designates by notice to Borrow~er. Any notice ~ provided for in this Security Insteume~t shall be deemed to have been given ~o Borrower nr Len~ler when given as provided in this paragraph. 15. Goveraing Law; Severability. This Security Instrument shail be governed by federal Iaw and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts wiih applicable law, such conflict shall not affect oth:r provisions of this Security Instrument or the Note which can be given effect without the con8icting pravision_ To this end the provisions oi this Srcurity Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security instrument. 17. Transfer of the Property or a Beneficial Interest in Borrower. if ali or any part of the Property or any ~nterat in it is sold or ;ansferr~a ~or.if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural penon) without I.en~ier's prior written cc~sent, Lender may, at iis option, require immediate payment in full of all sums secured by th~~ Sxunty InstrumeJ!t. However, this optdon shall not be exercised by Lender i( exer:.ise is prohi?~ited by federal la•.• as of the date of this Security Instrument. If lxnder eaercis~s this option, Lender shall give Borrower nntice of acceferatioa. The notice shall provide a p?riod ~ of not less than 30 da~s frqm the da:e the notice is delivered or maileu w~thin wnich Borrower must pay all surns sec:ured by this Security Instrumeat. If Borrower f2ils to pay these sums prior to the ezpiration of this ~riod, Lender may invoke a~y remedia permitte~ by this Security Instrument withoui further notice or demand on Borrower_ 18. Borrower's Right to Reinstat~. If Borrower meeis certain conditions, Borrower shall have the right io ha~~e enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may sprc~fy for reinsta:ement) before sale of the Property pursuant to any ~wer of sale contained in this Security Instn~ment; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Securi:y Instrument and the Note had no acceleration occurred; (b) cures any default of any other covenants ur agreements; (c) pays all eapense~ incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as I,ender rr;ay rsasonably require to assure that the lien of this Security Instrumen!, Lender's rights in the Property and Borlower's obligation !o pay tht sums s~ured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and th~ obligations secured hereby shall remain fully eti'ective as if na acceleration had occurctd. However, this right to reinstate sha11 not apply in the case of acceferation under paragraphs i 3 or 17. 1~~