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Home My WebLink About0993 . . ~ ~ • ~Ar~y amount~ di~bur.~;d by Lender un~ler this par;~gr:~pt? 7 shaU lkrume adJitiunal debt uf &?rruwer u~ured by th~.. Securily I~.+~run~nt. Unles~c Burruv~~er and L.enJer agrc,~ to cKher ternu <~f paymeR~, thrse ~nxwnt, ~h:~ll tx~vr interest~ frprfi ~he elatr uf ~C:twrknx~nt ~ at the N~ue rate ancl shali be payable, with intertst, upon n~Nice frum Lender tu Borrower reyue,ti~ ~ymc;n~. If l,ender required mongage in~ururxe as a cunciition uf making the loan s~currd by thi~ SucuYit~r ~tn+trumcnl, ~xruwer .h;~ll ~y the pn:mium~ rtiquirt;d to maintain the insuratke in effect until surh time ttx; rctyuirenxnt for the i~u~anc~ terminates in ~ccunl:t~k~ with Borrow~r's and l.ender's written agreement or applicable law. S. inspection, l.en~kr or its agent may make reasanable entries upon and inspectiun. uf the Prupeny. l.~nd~r ~halt givc &irroHCr nutire at the time of or prior to an inspection specifying reawnabte c:+uu far the inspection. 9. Condemnetion. The prcxec.~is ~f any aw•~rd o~ claim feir d:~magcs, dirert ur cun.u:yucntidl, in cunnt.Ytiun with :?ny corxiemn:~tiun ur other taking of any part of the Pruperty, or tor conveyance in licu of condemnatiun, are hereby a~signed an~ sh~ll be paid to lxnder. j In the event of a total taking oi the Property, the pr~ec;ds shall be applied to thc sums secured by thi~ Security Instrument, ~?~hcther or not then due, with any excess p:iid to Borrov?-er. ln thc event of a partial taking of th~: Property, unle+s Borrower and L.encier ~xtkrwis~ agn.~ in writing, the wms secured by this Security Instrument shall be reducec! by the anwunt of~ttx, pr~xeed. multiplic~i hy the following fraction: (a) the total amount of the sum+ ~erured immedia[ely befiire the taking, dividcd by (b) the fair market value of the Property immediately before the taking. Any balance shalt be ~id to Bc~rrowrr. If the Property is abandoned by Borrower, or if, after notice by Lenefer to Borruwer that ~he conciemnur ot7ers tu make an aHard or settte a claim for damages, Barrower fails to resp~md to L.ender within 30 days after the date the notice i, gi~•en, Lender i. authorized to collect and apply the pnxeeds, at its option, either tu resturation or repair uf the Propeny ~~r to the ,ums secureJ by this Serurity Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any applicatian of pnxeeds to principal shall not extenJ ~~r W~stpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of surh payments. l0. Borrow~er hot Released; Forbearance By Lender Not a 1~'aiver. Extcnsion of the time fi~r p~yment or muditiration of amonization af the sums secured by this Securiry instrument grantcd by Lender to any successor in interest of Borrower ~hall not uperate to release the liability of the origi?ial Borrower or Borrower's success~rs in interest. Lender shall not be reyuired to commer?ce proceedings against any suecessor in interest or refuse to extend time far payment or otherwise mc~ify amortizatiun of the sums secured hy this Securiry Instrument by reason of any demand made by the original Borrower or Borruwer's successors in interest. Any forbearance h~~ 1 rru~er in ezercising any rieht or remedy shall not be a waiver of or prcclude the exercise of any right or remedy. 11. Successors and Assigns B~und; Joint and Several I,iability; Casigners. The covenants and agreements o~ tnis ~ecuri[y In~trument shall bind arxi benef t the successors and assigns of Lender and Borrower, subject ro the provisions of paragraph I7. Sorrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the ~'ute: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under thc terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security lnstrument; and (e) ~grees that Lerxier and any other Borrower may ~gree to extend. modify, forbear or make any accommaiations with regard to the tcrms of this Securiry Instrument or the Note without that Borrower's consent. !l. Loan Charges. If the loan 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 caNected in connection with the ~u-an exceed the permitted limits, then: (a) any such loan charge shatf be reduced by the amount nec:essary to reduce the charge ro the permitted limit; and (b1 any sums already collected from Borrower which exceeded permured limits will be refunded to 8orrower. l,ender may rhoose to make this refund by~reducing the principa! owed under the Ncxe or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a panial prepayment without•any prepayment charge under the Note. 13. Legislation ARecting Lender's Rights. tf enactment or expiration of applicable laws has the effect of rendering any provision ~~f the Note or this Security Instrument unenforceable according to its terms, Lender, at its option, may reyuire immediate payment in full of all sums secured by this Security tnstrument and may invoke any remedies permitted by paragraph 19. It' Lender exercises this option, Lender shall take the steps specified in the second paragraph of paragraph 17. 14. 1~'otices. Any notice to Borrower provided for in this Securhy Instrun~ent ~hall be given by delivering it or by mailing it by tirst class mail untess applicable law requires use of another method. The notice shall be directed to the Property Address or any ~~ther address $orrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to l..ender's address titated herein or any other addres~ Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. Governing Law; Severability. This Security fnstrument shall be governed by federal law and the law oF the jurisdiction in which the Property is locateei. In the event that any provision or ctause of this Security lnstrument or the Ncxe conflicts with applicable law, such confiict shali nd affect other provisions of this Securrty Instrunrt~nt or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security lnstrument and the Note are declared to be severable. 16. Borrower's Copy. Borrawer shall be given one conformed copy of the Note and of this Security Instrument. l7. Transfer of the PropeKy or a Beneficial Interest in Borrower. If alt or any part of the Property or any interest in it is sold or tranferred (or if a beneficial interest in Borrower is wld or transferred arxi Borrower is ncx a natural person) without Lender's prior written consent, Lender may, at its opti~~n, 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 prahibited by federat law as of the date of this Security Instrument. If Lender exercises this option, Ixnder shall give Borrower notice of acceler:~tion. The notice shall provide a period of not less than 30 days from the date the notice is delivered or maiied within which Borrower must pay atl sums secured by this Security instrument. If Borrower fails to pay these sums prior to the expiration of this peric~d. Lender may invokc any remzdies permitted by this Security instrument without further notice or demand on Borrower. 18. Borrowet's Right to Rtinstate. If Barrower meets certain conditions. Borrower shall have the right to have enforcement of this Security [nstrument dixontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable iaw 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 Borrawer: (a) pays Lender a!I sums which then would be due under this Security Instrument and the Note had no acceleration occurred; 1b} cures any default of any cxher covenants 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 I.ender 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 In~trument shall continue unchanged. Upon reinstatement by Borrower, this Secu~ity Instrument and the obligations secured hereby shatl rema~n fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraphs i 3 or 17. Bo~~ 48~ ~