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Home My WebLink About0965 , Any am.~unt~ di~bur,ed by LenJer un~fer thi,,paragraPh 7,~hall berum~ ad~itiun~l debt oi Burrow~r .c~ured by th,h Sccunty In~trun~ent. Unle~.s Burruw~er and l.ctxl~r :~grec; tu ~Khcr term~ ot p;iyntc:nt, th~se armwnta tihall bear intcr~st fr~kn thc: Jate ~~j'di.,tlu'r,entent at the Nute rate and shall be payable, with intcrrst, upun notice Irom Lender t~~ &xrowzr {equestin$ ~ayment. If [.ende~ required mongage in+uran~e as a cunJitic?n oi making ifTr luan ~rru~c:J t~,:~~tuF;t i;~::,~..,;: ' , ~ y ~ p:+y the premiunu reyuircd to n~aintain the insurarxe in eff'ect unti! surh time the r~~yuirement fi~r the in.urarxr t~nnirwte~ in acrorJa~ ~ uith &~rrawer's and l.ender's written agn.•ement or applirable law. ~ 8. lnspeclion. L.ender o~ its agent may makc reasonablc entries up~~n :~rx1 inspectiuns ut~th~ Prupeny. L.~n~er,hull give Borruwcr I nutire at the time of or prior to an inspection sperifying masonable c;~uu: tor thc in~pection. + 9. Condemnation. Ttx: pnxeeds iif any award or claim for dan~ges, ~irecl ur ronseyuential, i~ c~~nn~.~tiun with ;~ny corxi~mnaAon ur uther taking of any part of the Propeny, or for com~eyance in lieu of condemn~tion, are hereby assigned ~nd shaN be paid to Lender. [n the event of a tatal taking of the Prope.rty, the proc~cds sh~i! he applied tu the sums secured by this Security Instrument, whether or not then due, with any excess p~id tu &~rrower. In thc c~•cnt of a partial taking of the ProQerry, unless Borruwer and L~:nifr:r aherwise agree in writing, the wms securc~i by this Securiry Instrument sh~ll be r~~iucc~l by thc anxn~nt of the prix~tids multiplie~l by the fallowing fraction: (a) the total amount ot the sums s~cured immediately before the taking, divided by (b) the fair market ~~lue of the Propeny immediately before the taking. Any~ balance ahall be p:iid ti~ Borruw•cr. If the Property is abandoned by ~orrowcr, or if, after notice by t.~:ncier t~~ Borrower th:~t the amdemn~x offers ro mai;e an ~ward or ~etde a claim for damages, Borrower f'ails to respund to ixnder within 30 days after the date the notice is given, Lender authurized to collect and apply the proceeds, at its option, either to resturation or repair uf the Property ur to Mt.•`~ums secured by this Security lnstrument, whether or rwt then due. lJnless Lender and Borrower otherwise agree in writing, any ~pplication of pnxeeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 ur change the amount of such payments. ~ 10. Borrow•er Not Released; Forbearance By Lender Not a V1'aiver. Extcnsion of the time for payment or. modificatiw? of smurtization of the sums secured by this Security Instrument granted by Lender tu any successor in interest~of Botrower sliall not operate to release the liability of the original Borrower or Borrower's succe~ors in interest. Lxnder Shall ncx be required to carnmence pruceedings against any successor in interest or refuse ro extend time for payment or otherwise muclify amonizaticm of tht sums securecl h~~ this Security Instrument by reason of any demar~d rr~ade by the original Sorrov?~er or &~r*ower's successon in interest, Any forbeararx-e hy Len.~ier in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remeciy. . 11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenant~ and agreements of thi~ Security Instrument shall bind and benefit the successors and assigns of Lender and Bormwer, subject to the provisiom of paragraph 17. Borrower's ~ovenants and agreements shall be joint and several. Any Borrower who co-signs this Securiry lnstrument but dces not execute the Note: (a) is co-signing this Securiry tnstrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security [nstrument: (b) is not personalty ob~igated to pay the sums secured by this Security Instrument; and 1~) agrees that i.ender and any cxher Borrower may :~gree to extend, modify, forbear or make any accommociations with reg3rd to the terni~ of this Serurity Instrument or the Note without that Borrower's consent. 12. Loan Charges. lf the loan secured by this Sccurity Instrument is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or aher loan charges collected or to be coHected in connectian with the loan exceed the permitted limits, then: (a) any' such loan charge shall be reduced by the amount necessary to reduce the charge ta the pe~mitted limir, and (b) any sums already collected from Borrower which exceedecf permitted limits wili be refunded to Borrower. (.ender may rhoose to make tnis reiunu vy re~~e;,-,g f owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partia! prepayment without any prep-ayment charge under the Note. 13. I.egeslation At'fecting Lender's Rights. If enactment or expiration of applicable laws has the effect of rendering any provision uf the Note or this Security Instrument unenforceable according to its terms. Lender, at its option, may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies permitted by paragraph l9. If Lender exercises this option, [,ender shall take the steps specified in the second paragraph of paragraph 17. I4. Notices. Any notice to Borrower provided for in this Security lnstrument sha(I be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any uther address Borrower designates by notice to Lender. Any notice 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 t~c: deemed to have been given to Borrower or l.ender when given as provided in this paragraph. 15. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the jurixiiction in which the Property is located. In the event that any provision or clautie of this Security Instrument or the N~xe conflicts with applicable law, such conFlict shall not affect other provisions of this Securiq~ Instrument or the Note which can be given effect with~wt the conflicting provision. To this end the provisions of this Security Instrument and the Note are dectared to be severable. 16. Borrower's Copy. Borrower shali be given one conformed copy of the Note and of this Security Instrument. 17. Transfer of the Property or a Bene~cial Interest in Borrower. If a!I or any part c~f 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 nat a natural person) without l.ender's prior written consent. Lender may, at its option, require immediate payment in full of all sums serured by this Security Instrument. Nowever, this option shall not be exercised by L,ender if exercise is prohibited by federal law as of the date of this Security Instrument. If Lender exercises this option. Lender shall give Borrower notice of acceleration. The notice shall provide a peric~d of not !ess than 30 days from the date the rwtice is delivered or mailed within which Borrower must pay ait sums secured by this Security instrument. If Borrower fails to pay these sums prior to the expiration of this period, Le~der may invoke any remedies permitted by this Security Instrument withaut further natice or demand on Borrower. 18. Borrower's Right to Reinstate. !f Borrower meets certain conditions. B~rrower shall have the right to have enforcement ot this Security Instrument discantinued at any time prior to the earlier of: (a) 5 days (or such other period a~ applicable law may ~pecify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower. (a) pays Lender all sum~ which then would be due under this Security Inswment and the Note had no acceleration occurred; (b) cures any defautt of any otner covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not timited ro, reawnable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument. [.ender's rights in the Property and 8orrower's obligatio~ to pay the sams secured by this Security lnstrumeni shall continue unchanged. Upon reinstatement by Borrower, this Security [nstrument and the bbligations secured hereby shall remain fully effective as if no aeceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraph~ 13 or f 7. BOOK PM;f e~7eJQ - - ~._.r _