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Home My WebLink About0953 i ~ Any am~funt. di~bur~ed by l_cnder und~r thi, puagrsph7 sh~ll tkc~?mc a~ditional ~ebt uf &x~owcr .erured b) thi~ Se~urity ~ lmtru+~xnt. Unle~ Burrower ancf Lerxier agrc~c to ~xh~:r ternu uF paym~~t~ ttK;ve snxwnts ah~ll bear int~res~ fr~~m thr datr ut di.bursenknt ~ :,t tti~ N~xe rat~ and shall be payable, with interest, up~m notire trom Lender tu &~rrower reyu~~ting p:iyment. If l.ender reyuireci m~~ngage insuranre a+, cutxlition uf making the li~n secured by thi~~S~'urity Instrument, &~rroker ~h:~ll ~ay ttx: premiums r~quired to maintain the insurarxe in effect until su~:h time a~ the: reyuiren~ent 1`fi~itiie insurarke~tefminates in arcordark~ N ith Burn~wer's and L.ender's written agreement or applicablc law. ' 8. Inspection. t.~:ncler ar its agent may make reasonable entries upon arxl in~pection. uf ttx: Prupc:ny. L~;nd~r shall giv~ &~rruwer nutice at the time af or prior to an inspectian specifying reaWnable caux, for the inspertiun. - 9. Condemnation. The prati~eds oC any award or claim fur damages, direct or cunseyuential, in c~~n~~ion with any ~?rnlc:mrwtion ur other taking of any part of the Propc:rty, ar for comeyance in lieu of condemnation, are hereby assi~t~ ~nd shalt b! ~a~C1 to Lender. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by tttis Se;curity Instrument, ~vhether or not then due, with any exces~ p:~id to &~rrower. in the event of a pxrtial taking of the Properry, unless Burrower and l.ender cxhc:rwi~e agree in w~iting, ttx: sunu se~ureci by this Sc~urity In.urunx:nt shall be rc~iuced by tFx arYxwnt oi thc: prucee.d~ multiplieei hy the following traction: (a) the total amount of the sums secured imnx.diately Gefore the taking, divided by (b) the fair market value of the Property imn~diately before thc tdking. Any balance shall be paid to Borrower. lf the Properly is dbandoned by Barrower, or if, after notice by t.znder to Borruwer that the condcmnor offers to make an .iward or setde a rlaim for damages, Borrower fails to respond to Lxnder within 30 days after thc date the notire is given, L.eru}er i~ authorized to collect and apply the proceeds, at its option, either to restoration ur re,pair of the Property or to the +ums x~cured by this Security Instrument, whether or not thcn due. Unless Lencier and Borrower other.vise agree in writing, any eppEicati~m of prexeeds to principal shall not ext~nd or pt»tpone the due date of the monthly payments referreci to in paragraphs 1 and ? or rhange the amount of such payments. t0. Borrower Not Released; Forbearance By L.ender Not a~4'aiver. Extension of the time for payment or modifiration ot~ ~mortization of the sums secured by this Security Instrument grantrd by Lender to any successar in interest of Borrower shall not uperate to release the liability of the original Borrower or Borrower's successors in jnterest. Lender shait na be required t~ rommence pr~eedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums securt~i by this Securiry Instrument by reason of any demand made by the original Borrower or Borruwer's successon in interest. Any forbearance hy l.ender in exercising any right or remedy shail ncx be a waiver of or preclude the exercise of any right or remedy. 11. Successors and Assigns Bound; Joent and Severa! Liability; Co-signers. The covenants and agreeinents of this Security tnstrument shatt bird and benefit the successors and assigru of Lender and Borrower, subject to the provisions of paragraph 17. BoROwer's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security lnstrument but does not execute the NcHe: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's intere~t in the Property under the terms of this Security lnstrument: (b) is not personally obligated to pay the sums secured by this Security lostrument; and !c) agrees that L.ender and any other Borrower may agree to extend, modi(y, forbear or make any accommodations with regard to thc terms of this Security Instrument or the Note without that 8orrower's cor~sent. 12. Loan Charges. (f the toan secured by this Security Instrument is subject to a law which sets maximum loan charges, and that iaw is finally interpreted so that the ioterest or other loan charges collected or ta be collected in connection with the loan exceed the 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 Borruwer which exceeded permitted limits will be refunded ro Borrower. L,ender may ' rhoose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. ff a refund reduees principal. ~the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 13. Legislation Affecting L.ender's Rights. (f enactment or expiration of applicable ]aws ha, the effect of rendering any provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option, may reyuire immediate p:iyment in full of ail sums secured by this Security Instrument and may invake any remedies permitted by paragraph i~. ii ix~nir~ cxe~~ix, - this option, t.ender shall take the steps specified in the second paragraph of paragraph 17. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mait unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other adtiress Borrower designates by notice to l.ender. Any notice to Lender shall.be given by first class mail to Lender'~ address stated herein or any other address Lender designates by nutice to Borrower. Any natice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when givert as provided in this paragraph. I5. Governing Law; Severability. This Security Instrument shall be ~overned by federal (aw and the law of the juri~diction in which the Property is lc~cated. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such contlict shall not affect other provisions of this Sc~:urity Instrument or the Note which can be given efiect without the conflicting . provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrovrer's Copy. Borrower shall be given one confornied copy of the Note and of this Security Irt~trument. 17. Transfer of the Property or a Beneficial Interest in Borrow~er. If all or any part of the Propeny or any interest in it is sold or tranferred (or if a beneficial interest in Borrower is sotd or transferred ancl8orrower is not a nawrat person) without Lender's Fri~r 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 l.ender if exercise is prohibited by federal law as of the date of this Security [nstrument. If f.ender exercises ihis option. Lender shall give Borrower notice af acceleration. The notice shall provide a period of not iess than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower faits to pay these sums prior to the expiration of this period. Lender may invoke any remedies permitted by' this Security lnstrument without further notice or demand on Borrower. 18. 8orrower's Right to Reinstate. !f Borrower meets certain conditians, 8orrower shall have the right to have enfarcement of this Securiry Instrument discontinued at any time priar to the earlier of: (a) S days (or such other period as applicabte law may specify for reinstatement) before sale of the Propeny pursuant ro any power of sale contained in this Security Instrument; or (b) entry of a judgment enf~rcing this Security lnstrument. Those conciitions are that Borrower: (a) pays Lender alt sums which then would be due uncier this Security lnstrument and the Note had no acceleration occurred: (b) cures any default of any cHher covenants or agreements: (c) pays all ezpenses incurred in enforcing this Security tnstrument, including, but not limited to, rea.wnabte attorneys' fees: and (d) takes such action as Lender may reasonably require to 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 (nstrument 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 acceleration under paragraphs 13 ar 17_ 8001( ~L7~ g«1iF ~~r-~)