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Home My WebLink About0971 Any ~muunt~ di~hur,ed by Lender unci« this paragr;~ph 7,ha~i bec'~~me adJitional debt of &~rruN~r ucured b~ thi+ krurity Imtrunxnt. Hnlea~ Borrower :trxi L.e~xler agrn tu ~xher term~ of paynx;nt, thc:~e anxwnts shall bear inter~,t from the Jate uf Ji.bur_x:nknt a~ the.N~xe rate anci sh311 be payable, with interest, up~m n~Hice frum~ nder tu Bcx~ ctque,ting pay~~~4nt. !f Lc;nder required murtgage insurance as ~ corxiitiun ut makin~tfie loan x:cured't?y~Kis S~.~uriry Inatqupent, BorruH•~r ~h;~ll pay tFk prcmiums r~quirecl ro maintain the insuraixe in effect until such tinx: :u the rt~yuiren~nt fur tFx: insuran~~: tenninates in acr~~rd~nr~ w~th &~rrower's and Lrnder's writtcn agr~~c:nx;nt ar applicablc law. 8. Inspection. Leniler or its agent may make reawnable entries upun arxl inspectiuns of the Prup~ny. l.rnJer ~hall gi~~~ &~rrow~r nutire at the tirr~e uf or prio~ to an inspection specifying reasunable cause far the inspertion. 9. Condemrwtion. The pnx.~c~crds of any awani or elaim for dan~ges, direct or conx~yuential, in ronnc~tiun with uny cun~kmnatiun ~?r other taking uf any part of the Pruperty, or for ronveyan:e in tieu oi~cunciemnation, arc hereby ~ssigned anJ sh~?II bc; p:iiJ to Lcnder. In the cvent of a t~ual taking of the Pruperty, the proceeds shall he applied to the sums ~rureJ by this Securiry In.trument, H~hether or not then due, with any exre~ p:iid to &~rro~rer. In the event ui' a partial taking of the Properry, unless Borrower and Letxler cxherwise agree in writing, the sums s~~ur~~1 by this Security Instrun~:nt shall be r~rluceci by the am~wnt ot the prcxt~ed~ multiplieJ by the following fractian: (a) the t~~tat aiic~'of»the sums secured immediately t~c:fore the taking, divided by (bf the fair market ~alue of the Property imnx:diately before the taking. Any balance shall be paid to &xruwer. If the Property is abandoned by Barrower, or if, after notice by txnder a~ Borrower that the conJemnor uffers to m~kc an award or settle a claim for damages. Barrower fails to respand to Lr:nder within 30 days after the d~te the notice is givcn, l.ender i, authorized to collect ~~xi appfy the proceeds, at its optiun, either to resturation or repair of the Property or to the sums secured by this Securiry Instrument, whether or not then due. ~ . ~ . , . ; ~ Unless Lender and Borrower ~xherwise agree in writing, any applica[ian of.p~ceatis to~pritHeipal shali not eztenci or postpone the due date of the monthly payments referred tu in paragraphs I and 2 or chang ethe;amwnr of such paymcnts. 10. Borrow•er Not Released; Eorbearance By Lender Not a~'4'aiver. E~~rl~iqp of ~the.time for payment or m~~iiication of amonizati~n of the sums secured by this ~ecurity Instrument granted by Lender to any successor in interest of Borrower shall not uperate to release the liability of the original Borrower or Sorrower's successors in interest. Lender shall not be reyuired to commence proceedings against any successor in interest or refuse to extend time ior payment or otherwise maiify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or &irrower's succeuon in interest. Any forbc:ararxe by Lender in exercising an}~ right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 11. Successors and Assigt~s Bound; Joint and Several Liability; Co-signers. The covenants and agreement~ of this Security Inswn~nt shall bind and benefit the succeison and assigns of Lender.and Borrower, subject to the provuions of paragraph 17. Borrower's rovenants and agreements shall be joint and se~~eral. Any Borrower who co-signs this Security Instrument but d~~es not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borc~wer's interest in tne Property under the terms of this Security Instrument: (b) :s not personafly obligated to pay the sums secure~' by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommcxiations with reg~rd to the terms of this Securiry Instrument or the Nore without that Borrower's consent. !2. Loan Charges. !f the foan 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 connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount oecessary to reduce the rharge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. l.ender may rh~wse to make this refund by reducing the principal oweJ under the Note or by making a direct payment to Borrower_ I( a refund reduces principal, the reduction will bc treated as a partial prepayment without any prepayment charge under the Note. !3. Legislation Affecting Lender's Rights. If enactment or expiratiun of applicable laws has the effect of rendering any provisian uf the Note or this Security Instrument unenforceable arcording 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 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of paragraph 17. ~ 14. Notices. Any notice to Borrower provided for in this Securit}• Instrurrrnt shall be given by delivering it or by mailing it ny fir~t class mail unless applicable {aw requires use of another method. The n~tice shall be directed to the Property Address or any I. ~xhQr address Borrawer designates by notice to Lende~. Any notice to Lender shall be given by first class mail to Lender's address ~ ~tated herein or any other address Lender detiignate, by notice ro Borrower. Any notice provided for in this Securiry Instrument shall ~ t~ deemed to have been given to Borrower or Leneier when given as proviJed in this paragraph. € 15. Governing Law; Severabiiity. This Security In;trument shall be governed by federal law• and the iaw of the juriuliction in which the Property is located. In the event that any provision or clause of this Security Instrument or the N~xe conflicts with epplicable ~ law~, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect withcwt the conflicting provision. To this end the peovisions of this Securiry Instrument and the Note are declared ro be severable. 16. Borcower's Copy. Borrower shall be given one ronformed copy of the Note and of this Security Inswment. 17. Transfer of the Property or a Beneficial lnterest in Borrow~er. If all or any part of the Property or any imerest in it is sold or t~anferred (or if a beneficial interesi in Borrower is sold or transferred and Bc~rrower is ncx a natural perwnl without Lender's prior written consent, Lender ma}•. 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 ln~trument. If Lender exercises this option. Lender shall give Borrow-er notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. [f Borrower faifs to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted ~ by this Security Instrument without further notice or demand on &~rrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions. Borrower shall have the right to have enforcement of this Securiry Instrument discontinued at any time prior to the earlier of' (a) 5 days (or such other period as applicable law may specify tor reinstatement) before sale of the Property pursuant to any power of sale contained in this Securiry Instrument; or (b) entry ~ of a judgment enforcing this Security lnswment. Those conditions a~e that Borrower. (a) pays Lender all sums which then would ~ be due under this Security Instrument and the Note had no acceleration eccurred; (b) cures any defauft of any cxher covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but ncx limited to, reawnable attorneys' ~ fees: and (d) takes such action as Lender may reawnably require to assure that the lien of this Securiry Instrument, Lender's rights ~ in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shal) continue unchanged. Upon ~ reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration ~ had occurred. However, this right to reinstate shail not apply in the case of acceleration under paragraphs 13 or 17. ~ ~ BQJK ~V1 PaGE JU~ ~ u. . - ~ - - _ _ ~ -