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Home My WebLink About0947 • 9ny anu~unts di~burse~ by Len~ier unJer this paragr~ph 7 ch~il becume additiun;;l debt uf Borruwer ,ecured hy thi. Sirurity • In~trument. Unle~ Borruwer atxl Lerxier agrc~c to ~xher term, ot~ paymer~l, th~~e :tnwunts shall bc;ar int~r~at from the ~l:it~ ut Ji.bur.ement at the Nixe rate and shall be payable, with interest, up~m notice trom Lender to Bc~rruwer rc~ufaiting'Ei:iymeM~'.~ y','' , ~ If l.ender required mangage insurance as a condition ~f making the lu:in x:cured hy thi~ Securiiy Instrument, Burri,w~er ~hall p:ry the premiums reyuired to maintain the insurarx:e in etiect until ~uch time as ttx: n.~yuirenx:nt fur the insurance trrmin:?tcs in arrurd~~xc with &~rrower's and Lender's written agreemrnt ur applirable law. 8. Inspection. Lender ~~r its agent may make rea~nable e~trics u~n;~r,ci inspection. of the Property. l.cnd~r ~h~ll giv~ BorruH•~r notice at the time of or prior to an inspectiun specifying reasonable caux: for the inspection. 9, Condemn~ttion. The prcxeeeis of any award or claim for damages, dirert or cun_.eyuential, in ronrk~tiun with 3ny ra~xlemrwtiun ur other taking of any part of the Prope.rty, or for cunveya~ce in lieu of condemnation, are hereby axsigned ~nJ shall be paid to LenJer. ln the event of a total taking af the Propeny, the pn~ceeds shall tse applied to the sums kcured by this Securiry Instrumem, whether or na then due, with ~ny cxccss paid tu Borruwer. In thc event of a panial taking of the Properry, unle~s Borruwer rnd l.eneier cxherwise agree in writing, the sums uYUrc~i by this Securiry Instrun~nt shdll be reduceci by the :~nnwnt of the pnxee~s multiplieJ b~• the following fraction: (a) the total amount uf the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the t~king. Any balance sh~ll be paid to Borrower. If the Property is abanclonzd by Borrower, or if, atter notice by Lender to Borruwer that the condemnur of(ers tu make an award or settle a claim for damages. Borrower fails to respond to Lender within 30 days after the date the rnHice is given, Lender iti au[horized ro rollect and apply the proceeds, at its option, either to resroration or repair of the Property or to the sums serured by this Security Instrument, whether or not lhen due. Unles~ L.ender and Borrower otherwise agree in writing, any application of pnxeeds to principal shall not extend ur pustpeme the due date of the monthly payments referred to in paragraphs 1:~nd 2 or change the amaunt of such payments. 10. Borrower Not Releasetl; Forbearance B~~ Lender Not a Waiver. Extension of the time for pa~~ment ur m~lification of :~mortization of the sums Secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall ncx upe~ate to release the liabiliry of the original Borrower or Borrower's successors in interest. L.ender shall not be reyuired to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise mociify amortizatiun of the sums ~urcd hy this Serurity Instrutnent by reason of any demand made by the onginal Borrower or Borrower's succe~.wrs in interest. Any forbeararx~e by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 11. Successors ~nd Assigns Bound; Joint and Several Liability; Ce-signers. The covenants andagreemepts of this Security 1 nurument shall bind and benefit the successors and assigru of Lender and Borro~Jer, subjecE to the pravisions of paragraph .17. Borrower's rovenants and agreements shall be joint and several. Any Borrower who co-signs this Securiry Instrument bNt doe~ not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's;intere~t in the Praperty under the terms of this Security lnstrument; (b} is not personally obligated to pay the sums secured by this Security Instrument: anJ tr) agrees that l.ender and any other Borrower may agree to extend, mociify, forbear or make any accommexlations with reg:~rd to the terms of this Security Instrument or the Note without that Borrower's consent. 12. I,oan Charges. !f the loan secured by this Security Instrument is subject to a law which sets maximum Ic~an charges, arxl that law is finally interpreted so that the interest or other ioan charges collected or to be collected in connection w-ith the loan exceed the permitted lim;ts, then: (a) any such loan charge shall he 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 rr2ay choose so make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund redures principal., the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 13. L.egislation Afferting Lender's Rights. If enactment or expiration of applicable laws has the effect of rendering any provision uf the Note or this Security Inswment unenforceable according to its terms, Lender, at its option, may reyuire immediate payment in full of all sums secured by this Securiryanstrument and may invoke any remedies permitted by paragraph l9. If l.ender exercises this option, Lender shall tak~ the steps ,specified in the second paragraph of paragraph 17. i4. Notiees. Any notice to 8orrower provided for in this Security Instrument shal! be given by delivering it or by mailing it by first class mail untess applicable law requires use of another method. The notice shall be directed to the Property Address or any uther address Borrower designates by notice ro Lender. Any natice to Lender shall be given by first class mail~to Lender's address .tated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Securiry Instrument shall f he deemed to have been given to Borrower or Lender when given as provided in this paragraph. E 15. Governing Law~; Severability. This Securiry Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. In the event ~hat any provision or clause of this Security Instrument or the Note conflicts with applicable ; I~w~, such confl~ct shafl not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting ~ provision. To this end the provisions of this Securiry Instrument and the Note are declared to be se~•erable. ~ 16. Borrow•er'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 Borrow•er. If all or any part of the Property or any interest in it ~ i, wld or tranferred (or if a beneficial interest in Borrower is sold or transferred anci Borrower is not a natural penon) without Lender'ti prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. ~ However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. I If Lender ezercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not ~ less than 30 days from the date the notice is deiivered or mailed within which Borrower must pay a!I sums secured by this Security ~ t~jstrument. if Borrower fails to Pay these sums prior ro the expiration of this period. Lender may invoke any remedies permitted ~ by this Security Instrument without further natice or demand on 8orrower. a ~ 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to hdve enforcement ~ ~~f this Security Instrument discontinued at any time prior to the earlier of: (a) S days (or such other period as applirable law may ~pe~ify for reinstatement) before sale of the Property pursuant to any power af sale contained in this Security lnstrument: or (b) entry of a judgment enforcing this Security Instrument. Those conditions arP that Borrower: (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 cxher covenants or ~,greements; fc) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable atrorneys' ` fees; and (d) takes such action as Lender may rea.sonably require to assure that the lien of this Securiry Instrument, Lender's rights F in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon i reinstatement by Borrower, this Security lnstrument and the obligations secured hereby shall remain fully effective as if no acceleration ( had occurred. However, this right to reinstate shall not apply in the case of acceteration under paragraphs 13 or 17. ~ ~ E ~ ~ aooK 4~~ Pa~E ~4U _ _ - : :