The URL can be used to link to this page

Home My WebLink About0981 r~)' antuunts di.bur~eJ by Len~er und~r thi~ perngraph'7 ,h~N he~umr aJdn~un:~l ~eht ol Burruw~r .rcur~d hy thi. S<iurity ln~trument. Unleu Burruwer atxf L.erxler ;~grec tu ~Kher tertn~ uf pnyment, th~k ~m~wnts ~hull bu;~r int~re,t irum the J~te ul Ji.hur+rmcnt at the Note rate and shall be payabk:, with interrst, upun notice irom l.ender tu Borruwer reyuc.ting p:iym~nt. It' lxnder requir~l m~ingage inwranre as a cundition of making the lu:in secur~d by thi~ Seruriry Imtrum~nt, Burruw~r ,hall ,pey ~he premiums rt,~yuireci to maintain the insurarxe in eff~~t until surh time as thr requirenx:nt t~~ thr ~n,uran~~c te~min:?te. in ;~rrurJ:~rk~ H~ith &~rrower's and l.cnder's written agreement or applirable law. ' i~' 8. Inspe~tion. Lender ~ir its agcnt may make reas~nable entrie~ upcm ~nJ inspections uf the Prupeny. LxnJ~r.hall gi~ t&~rrowcr n~~tice at the time of or prior to an inspection specifying reau~nable cause fur the intipertiun. 9. Condemnation. The proceecis uf any award or claim for dan~ges, dit~:t ur cun.x:yuential, in conrx.~tiun with any corniemn:itiun ur ~Hher taking of any p:~rt uf the Propeny, or far conveyance in lieu ot'ce~rxlemnatiun, are hereby :~,~igned anJ ahaU be paid tu Len~ier. In the event of a total taking of the Propeny, the procecds shall be applied to the ~~t Secured by t~is Security lnstrument. whether or not then due, with any exress paid to l3orrower. In the event of a partial taking nf the Property, unles. Borrower ancl l~nder ~xherwise a~ree in writing, the sums secured by this Security lnstrunxnt shall be rcducc~i by the anxwnt of ttk prex~c.•c~ls mul[iplic~i hy the fallowing fraction: (a) the t~xal amount of the sums secured immediately beture the taking, divideJ by ib) the fair market ~ value of the Property immediately before the taking. Any balanre shall be paid to &irrower. j It~ the Property is abandoned by Borrower, or if, after raKice by l.ender to Borrower th:tt the condemnur ofters tu make an s sward or settle a claim for damages. Borrower fails to resp~md to Lender within +l~ d~ys aiter the ciate the n~uice is given, i.enuer Z i. ~uthorized to collect anel apply the prcxeed~, at its option, either to restoration or repair o1~ thc Propeny or to the sum~ secured t by this Securiry Instrument, whether or not then due. } Unless Ler.der and Borrower atherwise agree in writing, any application of proceeds ta principal shall not extenci ur pustpone ~ the due date of the monthly payments referred to in paragraphs 1 and ? or rhange the amoum of such psyment>. t 10. Borrower Nol Reteased; Forbearance B7 Lender Not a~~'ai~~er. Extcnsion of thc time fi~r Ra}•ment ur mexiitication of ; amortization of the sums secured by _this Securiry Instrument granted by Lender to 3ny successor in interest of Borrower shal! n~u ; ~~perate ro release the liability of the original Borrower or Bocrower's sucre~wrs in interest. Lencier shall na t~e requiry*d ta cummence ~ proceedings against any successor in interest or refuse to extend time for payment or utherwise m~~Jify amoRization of the sums s~curcd hy this Security Instrument by reason of any demand made by the original &~rrower or Bormwer's succ~:ssor~ in ~nter.~at. Any fixbrlrance ~ ny Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise o( ~ny rigl~t` or remeiiy. i l. Successors and Assigas Bound; Joint and Several Liabilit~•; Co-signecs. The covendnt; and agreements of thjs ~ecurity Intitrument shall binci and benefit the successors and assigns of L.ender and Borruwer, subject to the provisipns of pat~gropfi't 1. Botrower's cuvenant~ and agreemen~s shall be joint and several. Any Borrower who casigns this Security InstruMeM`but does not execute the ;~utc: ia} i~ ~o-signirig this Szcurity Instrum~ni only ta r~o~:g~ge• 8rant aszc~ convey ihat &urru+~•~s's :^~te~~in t4~ Qs^~!~!~' J-^.LC~ th~ rerms of this Security Instrument: (b) is not personally obligated to pay the sums sccured by this Serurity lnstrument; and t~ ) ~grees that Lender and any other Borrower may agree to extend, mociify, forbear or m~ke any accommoclatiuns with regard to the terms of this Security Inswment or the Note without that Borrower's con.~ent. 12. Loan Ch~ e~. !f !hP lp~~ wr~~~i hy rhic CPC~~rity Instrument is subject to ~!aw H-hich sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charg~s collected or to be collected in connection with the I~~n exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to redure the charge tci the permitted limit: and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Nbte or by making a direct payment to Borrower. If a ret'und reduces principal, the reduction will be treated ~ a partial prepayment without any prepayment charge under the Note. 13. l.egisiation Affecting Lender's Rights. If enactment or expiratiun of applicable laws has the ef{'ect of retxiering any provision uf the Note or this Security Instrument unenforceable according to its terms. Lender, at its option, may reyuire immediate payment in fuil of ali 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 speci~ed 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 m:~iling it by first class mail unless applicable law requires use of another method. The notire shall be directed to the Property Address or any ather address Borrower designates by notice tv L.ender. Any notice to L.ender shall be given by first class mail to i,encier's addrets ~tated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Security lnstrument shail ~ t~ deemed ro have been given to Borrower or Lender when given as provided in this paragraph. 15. Governing Law; Severability. This Serurity Instrument shall be governed by federal law and the !aw of the juriuiiction ~ ~n Which thP Pr~~!y I~c_-a!~ In the event that any pmvision or clause of this Security Inswment or the Ncxe contlicts with applicabie ' law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting ~ pr~~vision. To this end the provisions of this Security lnstrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one conformed ropy 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 intere~t in it $ is ,old or tranferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural personl without Lender's ~rior written consent. Lender may, at its option. require 'smmediate payment in full of all sums secured by this Serurity Imtrument. ~ However, this option shall not be ezercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. If Lendzr exercises this option. Lender shall give Borrower notice of acceleration. The notire 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 this period. Lender may invoke any remedies permitted ~ b}~ this Securiry Instrument without further notice or demand on Borrower. 18. Borrnwer's Right to Reinstate. If Borrower meets certain conditions, &~rrow~er shail haye the right ro have enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may ~pecify for reinstatemenU before sale of the Property pursuant to any power of sale contained in this Security Instrument: or (b) entry• c~f a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would ~ be due under this Security [nstrument and the Ncxe had no acceleration occurred: Ib) cures any default of any aher covenants or agreements; (c) pays all ezpenses incurred in enforcing this Security Instrument, including, but not limited te~. reawnable attorneys' ~ fees: and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Le~der's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upun ~ reinstatement by Borrower, this Security Inswment and the obligations ~ecured hereby shall remain fufly effective as if no acceleration ~ had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraphs !3 or 17. ~ BGOK~~~ F~~E