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Home My WebLink About0976 . ~ Any amuynts disburxd by Len~ler un~icr thi. ~ra~iaph i v~ail b~HjiSi'a'. s.1:3ti~: ^s! ~cbt ot~ &~rrnu~r .e.•ur~d by chi. Security lntitnln~~t. Unless &xr~~wer and l.ender agrre to ~xher tern~s of paynx.nt, th~ x~m~wnts shpll t~:ar int~re~t Frum thr ~ate ul ~i.burs~nknt the N~ue rate anci shall be payable, with interest, up~.~n notice from Lcnder tu Bur~uv?•er reyuc+ting p:iynunt. ' If 1..~~der required mongage iosurance as a cu~xlition of making the loan kcured by thi~ Scruriry In~trum~~t. Burru~er ~h~tU ~y the premium~ reyuired to maintain the insuratxe in efFec~ until ~uch tinx: a~ the reyuirenx:nt fe~r tAe jn~drarke tem~in~t~. in :~c~urJ:inc~ ~vith Burrowe~'s ancl l.ender's written agreement or applicable law. S. Inspection. Lender or its agent may make reau~nable entries up~m anJ inspectiuns of the ~~xny. I~ndc1. ~;~give &+rrowrr nutire at che time of or pr+ar to an inspection specifying reasanable cau~e far the inspection. 9. Condemnation. The proceeds of any award or claim fur J:images, dirc~.~t or consequential, in r~~nnc~tiun witfi any corxiemnation ~>r ~~ther taking of any pan of the Propc:ny, pr for cunveyance in lieu of condemnation, are hereby a+signed an~ ~hall b~ paid tu Lender. ~ ~ In the event of a tota! taking af the Propeny, the p~ ~al~~ appliecl to the sums secured by this Security Instrument, + whethe~ or n~x then due, with any excess paid to Borrow t fev t of a partial taking of the Property, unless Borrow~r and l..ender ~xherwise agme in writing, the sums ~ecured by thi~ Security Irutrument sh;~ll be rc~iucc~i by the ~nHwnt ~~f the prac~d. multiplied hy the fallowing fraction: (a} the total amount of the sums secured immedidtely beforc the taking, dividcd by (b) the fair m~rket ~ aluz of the Pr~perty immediately before the taking. Any balance shatl be paid ro&~rrower. If the Property is abandoned by Borrower, or if, after mxice by L.erxler to Borruwer that the condemnur uffers to make an :~ward or settle a claim for damages, &~rruwer fails to respond ro L.ender within 30 days after the date thc nutire is given, Lxnder , i. authorized to collect ancl apply the pr~eecis, at its aption, either to restoration or repair of the Property ur t~~ the sum~ secured hy this Security Instrument, whether or na the~ due. Unless Lender and Borrower othe~wise agree in writing, any application of prcxeeds to principal shall not extend ur postpeme the duc date of the monthly payments referred to in paragraphs I and ? or change the amaum of such payment~. 10. Borrower Not Released; Forbe&rance By Lender Not a Waiver. E!ctension of the time for payment ~r maliiir:~tion uf ~rnortization of ihe sums secured by this Secu~ity lnstrument granted hy l.ender to :~ny successor in interest of Borrower shall ne~t ~~perate to release the liability of the original Borrower or 6orrower's succeswrs in interest. Lender shall ncx be reqiiir~d tn commenre pnxeedings against any successor in interest or refuse to extend time for payment or otherwise mociify amortizKtion of the'~urns secureei by this Securiry Instrument by reason af any demand made by the original Borrower or Borrower's successc.t's tt~ ir~terest. Any forbear•ance hy Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right ~x re~iedy~. 11. Suecessors and Assigns Bound; Joint ant! Several Liability'; Casigners. The covenants and agreements of this Security Instrument shall bind and benefit the sucressors and assigns of Lender and ~orrower, subject to the provisiorra~of paragraph l_7= &~rrower'~ ec~~~enants and agreements shall be joint and ~veral. Any Borrower who co-sigos this Security Instrumcr~'6ut dces not execute the Note: (a> is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's intere~t in the Propeny under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security instrument; and (c) agrees that Lender and any other Borrower may agree to extend, mociify, forbear or make any accommcxiations with regard ro the terms of thi~ Securiry Inswment or the Note without that Borrower's consent. 12. Loan Charges. If the toan secured by this Security Instrument is s~bject to a!aw which sets maximum loan charges, and that law is finally interpreted so that the +nterest or other laan charges collected or to be collected in connection with the laan exceed the permiited fimits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the rharge to the permitted ' ' " ' ^ --~-~--l.-a ..er...:~~,.,1 limitc ,.,;II F,P ~Pf~~nrlecl m Borrower. Lender may ~t(T11I; dfld (b) fltly SUITIS 81~C8~)I COIICCICU IfU~il dut luwc~ wiii.~~ .,w.:.....~;: r:........=_ choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. tf a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 13. Legislation Affecting Lender's Rights. If enactment or expiration of appticabte laws has the effert of rendering any provision of the Note or this Security Instrument unenforceabte 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 rh~. ~nri~n. i.ender shall take the steps specified in the second paragraph of paragraph 17. - . 14. Notices. An notice to Borrower rovided for in this Secunt Instrument snaii oe ivr~~ 'v Y P Y K y ~ ~..........b . hy first dass mail unless applicable.law requires use of another method. The notice shal! be directed to the Propeny Address or any uther address Borrower designates by notice to Lender. Any notice to Lender shall be gi~~en by first class mait to Lender's address .tated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Secarity Instrument shaU tx deemed to have been given to Borrower or Lender when given as provi~ed in this paragraph. 15. Governing Law; Severability. This Serurity Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. [n the event that any provision or clause of this Securiry Instrument or the N~xe conFlicts with applicable law, such conflici shall na affect other provisions of this Security Inswment or the Note which can be given effect withcwt the conflicting provision. To this end the provisions of this Security 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 Inswmc:nt. 17. Transfer of the Property or a Beneficial Interest in BorroN~er. If all or any part of the Property or any ir~terest in it i. sold or tranferred (or if a beneficial interest in Bcyrrower is sold or transferred anci Borrower is nex a natural per.son> without Lender's prior written consent, i.ender may. at its option, require immediate payment in full of at! sums secured by thi~ Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Securiry Instrument. If L.encer exerc+ses 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 delivered or mailed within which Borrower must pay all sums secured by this Security lnstrument. if Borrower fails to pay these sums prior to the expiration of tnis perioci, i.eri~er r~y ~r~~:,k~ ar.y s~.^.:~di~s ~rmittcd by this Security Instrument without funher notice or demand on Borrower. 18. Borrowet's Right to Reinstatrt. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any fime prior to the earlirr of: ta) 5 days (or such other period as applicable law may specify for reinstatement) before saie of the Froperty 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 EZorrower. (a) pays Lender all sums which then would be due under this Security lnstrument and the Note had no acceleration occurred; (b) cures any deiault of any other rovenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees: and (d) takes such action as l.ender may reasonably require to assure that the lien of this Security Instrument. L.ender'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 Instrument and the obligations secured hereby shal) remain fu!!y effective as if n~ acceleration had occurred. However. this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17. ~~oK 48~. ~~~t 9~