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Home My WebLink About0938 ~.~Any amounts di.bursed by LenJer urxkr this paragraph 7,+hall becun?r additiunal deM ui &irrower ,ecured by thi, Scruriry In>tnfi~ent. Unleu Borrower and Lerxler agrc~ to ~xher tenit~ of ~yment, tF~~c amaints ,hall txar inter~~t frum the Jate ~~f di.bunenkn~ ~ the Nc~te,rate and shall be p:iyable, with intrrest, upon notice t~rom Le?xier ~o &irrower reyuesting p~ymcnt. ~ If l.ender reyuir~i mortga~e insur;~nce a~ a rnrxlition of making thr I~~n secured by thia Sc~urity Instrument. Burruwer .hall ~iiy' ;iw'. N~:.~~~u~~~~ ~~y~~::~ tu maintain the insurarxe in effe~~t until such timc: ~ ttx mquirement fur,the insurark-e ~~m~i~:~tes in acconi:ti~:-e ~ with Borrower's and L.endcr's written agreement ur appE~ca!+!P Iaw. - i` 8. Ittspection. Lender or its agent may make reasonable entries upon arxf in~pections of thc Pri~perty. Lcnder.fi;ll~ivc &~rrow~r notice al ihe tin~e of or prior to an inspection specifying rea~iwnable cause for the inspection. 9. Condemnafion. The procer~ds of any awanl or claim for ciamages, dircct or r~, sequential, in connectiun with any corxkmrw~iun or other taking of any part of the Property, conveyance in lieu ot~conciemnation, are hereby assigned and ,h:~ll be paid to Lender. In the event of a total taking of the Property, the proceeds shall be applied to the sums serured by thi~ Security Instrument. whether or not then due, with any exress paid to Borrower. !n the event of a partial taking of the Property, unless &xrower arxl , Lerxier otherwise agree in writing, the sunu secureci by ihis Sc~urity Instrument shall be recluced by the ~~rxwn~ of the praceed~ multiplied by the following fraction: (a) the total amount of the sums ~ecured immediately before the taicing, divided by (b) the fair market value of the Propeny immediately before the taking. Any balance shall be paid to Borrower. If the Property is abandoned by Borrower, or if, aiter nuiict Lencier to Borrower that the condemn.?r offcn t~~ make an award or settle a claim for damages. Bcirrower fails to respand to l.ender within 30 days after the date the nutice is given, L,ender i~ euthorized ta collect and apply the proceeds, a~ its option, either to restoration or repair of the Propeny, or to the ~ums secured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of praceeds to principal shall not extend ur postpone the due date of the monthly payments refer~ed to in paragraphs I ancf 2 or rhange the amount af such payments. 10. Sorrower Not Released: Forbearance By Lender Not a Wai~•er. Extension of the time for payment or maiifiration of amortization of the sums secured by this Security Instrument grsnted by Lender to any successor in interest of Borrower shall not ~~perate to release the liability of the original Borrower or Borrower's successors in inter~st. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or othenvise modify amortization of the sum~ secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's ~ucoessors in interest. Any forb~eararxr by Lender in ezercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 11. Successors and Assigns Bound; Joint and Several Liabili/y; Co-signers. The covenants and agreements of thi~ Security Instrument shall bind and benefit the successon and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Borrower's covenants and agreemencs shall be joint and several. Any Borrower who co-signs this Security Inswment but does not execute the Note: (a) is co-signing this Security (nstrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument: (b) is not personally obligated to pay the sums secured by this Security [nstrument: end Ic) sgrees that Lendec and any othet Borrower may agree to extend, modify, forbear or make any accommociations with regard to the terms of this Security Instrument or the Note without that Borrower's cunsent. 12. Loan Charges. If the loan secured by this Security Inswment 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 loxn exceed thc permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to 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 Note or by making a direct payment ro Borrower. If a refund reduces principal, the reduction will be treated as a partial prepaymcnt without any prepayment charge under tk.:. N~te. 13. I,egislation ARecting Lender's Rights. lf enactment or expiration of applicable laws has the effect of rendering any provision of the Note or this Security Instrument unenforceable according to its terms. Lender, at its option, may reyuire immediare paymem in full of all sums secured by this Securiry 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. I4. Notiees. Any notice to Borrower provided for in this Security lnstrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice ~hal) be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to l.ender shall be giveq by first clas~ mail to. Lender's address ~tated herein or any other~ address Lender designates by notice to Borrower. Any. notice provided for in this Security Instrument shal! be deemed to have been given to Borrower or Lender when given as provided in this paragraph. I5. Governing Law; Severability. This Security Instrument shall be governed by federal law and thc law of the jurisdiction t in, which the Property is Iocated. !n the event that any provision or clause of this Security Instrument or the NcHe ronflicts with applicable law, such conflict shall not affeet other provisions of this Security Instrument or the Note which can be given effeet with~wt the conflicting provision. To this erxl the provisions of this Security tnstrument 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 Imtrument. ~ 17. Transfer of the Property or a Beneficisl Interest in Borrower. If all or any part of the Property or any interest in it is sold or tranferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is ncx a natural perwn) without Lender's E prior written consent, Lender may, at it~ option, require immediate payment in full of all sums secured by thix Security ln~trument. , ~ 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 Lender exercises this option. Lender shall give Borrower notice of acceleration. The notice shali provide a period of not ~ g. less than 30 days from the date the notice. is delivered or mailed within which Borrower must pay all sums secured by this Security , ~ (n~trument. If Borrower fails to pay these sums prior to the expiration of this period. Lender may invoke any remedies permitted ~ by this Security Instrument withaut further notice or demand on Borrower. ; ~ 18. Borrower's Right to Reinstate. (f Borrower meets cenain conditions, Borrower shall have 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 4 ~pecify for reinstatemertt) 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 l.ender all sums whirh then would be due under this Security Instrument and the Ncxe had no acceleration occurred: (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in entorcing 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, Lender'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 [nstrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to ~einstate shal) not apply in the case of acceleration under paragraphs 13 or 17. € € r ; F . ' ~ • F t~j ~ B(l(;r PAGE t7J~ ~ € ~ F r t ~ . . . ' . . _ _ . . . . ~ g _ ~ . _ _