The URL can be used to link to this page

Home My WebLink About0952 An armwnis disbursed by L.ender unJer this . y' paragraph 7 ~!~all berume aitdiuunal ~k:bt uf &?rrow~er ,c-rur~~i hy thi~ Srcurity In.trument. Unless Burruwer anJ C,crxler agree tu ~xher ternu pf payment, these anK~unt~ shall bear inten~t frum ~he da,e ui di.bur,enknt at the N~xe rate and shall be payabie, with interest; up~m natice from L.ender to Borrower rtqu~~~ yment. ' ~ If t,ender reyuired mortgage insuranre as a c~ndition uf malcing the t~wn ,ecurcd by thl, Seci~fity lnstrunk~ ~&~~uwer tihall pey the premiums reyuired to nwinwin the insurarw~e m eite~~t untii surh Iin?e a~ ~he rec~uirer~x;r~t ic?i iix ii~.tiuiarwc ~c~~~:~~~;it~. ir~;:«<~rc:;~ :•c with Borrower's and L.ender's written ag~een~nt nr applirable law. • 8. Inspection. l.ender or its agent may make reacon~ble entries upun and inspecti~n~ of ttx. Pruprrty. l.ender ~h~ll givc &urower nu~icr at the tin~ of ar priar to an inspection specifying ressonable cause for the inspectio~. 9. Condemtwtjon. TF~e proceeds of any award or claim for damagc~s, direct o~ consequential, in runnection with ;~ny ce~rx.irmnaliun or other taking of any part of the Property, or f'or conveyance in lieu of condemnation, are hereby :~ssigned and shall be paid to LenJer. In the event of a tota! taking of the Property, the proceeds shall be applied t~~ the sums serured by thi~ S~.•curity tnstrument. whether ur not then due, with any excess paid to &~rrow•cr. In the event af a partial taking of the Prc~perty, unless Borruwer and L.erxler othenvise agree in writing, the sums secureci by this Security Instrument shal) be reduced by the amount of the proreed, multiplied by the following fraction: (a) the tatal amount of the sums secured immediately before the taking, divided by (b) the fair market value oi' the Property immediately before the taking. Any balatxe shall be paid to Borrower. If the Property is abandoned by Borrower, or if, after notice by L,ender to Borrower that the condenme~r offers ~u make an award or setde a claim for damages, 8orrower fails to respund to Lerxier withiR 30 days aFter the dete the notice is given. Lerxier is authorized to c~llect arx~ apply the proceeds, at its option, either to restoration or repair c~f the Property ur to the sums se~ ured " by this Security lnslrument, whether or not then due. Unless [.ender and Borrower otherwise agrce in writing, any application of proreeds ta principal shall n~x extend or pc»tpone. the Jue date of the manthly paymc~is referr~d to in paragraphs' I arxl 2 or rhange the amount of wch paymcnts. 10. BorroN•er Not Reles~sed; Forbearance By L.ender Not a Waiver. Extension at'the time for p:iyment or mcxliticetian of dmortization of the sums secured by this Security [nstrument granted by l.ender to any success~r in interest of Borrower shal! n~x operate to release the liability of the original Borrower or Borrower's successors in -interest. Lender shall not be required ta tommence proceedings against any successor i~ interest ur refuse to extend time for payment or utherwise mcxiify amoriiaatiun of.the sums socurec! by this Security Instrument by re~ason of any demand made by the original Borrower or Borrower's ~ucce~sors in interest. Any fotl~earance by Lender in exercising any right or remedy shall not be a waiver of or preclude tfie exercise of any right or remedy.~. i l. Successors and Assigns Bound; Join? and Several Ltability; Co-signers. The covenants and ag~eeme,nts of this Security lnuniment shall bind and benefit the successors and a~signs of Lender and Borrower, subject to the provisions of paragraph 17.•Borrowet`s ~i)ti(:iiilfiiJ ~i~~u a~+~~,~iw~..~ 5~;~~~ ~ j~;.^.Q 4!:~ wvPra~, a~y R~,~~~u,Pr whn co-cigns this Security Instrument but dces not execute the Note: (a) is casigning this Security Instrument only to mortgage, grant and convey that Borrower's intere~! in the Property uncier the terms of this Securiry lnstreimenr, 1b) is not personaqy obligated to pay the sums secured by this Securiry Instrument: ancl (c) ~grers that Lender and any other Borrower may agree to extend, mociify, forbear or make any :tccommalations with regard to the ~erms of this Security Instrument or the Note without that Borrower's consent. 12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum toan charges, arxi that (aw is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the (oan exceed the 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 atready collected trom Borrower which exceeded permitted lirrzits will be refunded to Borrower. Lxnder may choose to make this refund by reducing the principa! owed under the Note or by making a direct payment to $orrower. lf a refund reduces Principal, the reduetion wil! be treated as a partial prepayment without any prepayment charge under the Note. 13. l,egislation Af'fecting i.ender's Rights. If enactment or expiration of applicable laws hac the effect of rendering any provision of the Note or this Security Instrument unenforceable according ta its terms, Lender, at its option, may reyuire immediate payment in full of all sums secured by this Secu~ity lnstrument and may invoke any cemedies permitted by paragraph 19. [f Lender exercises this option, L,ender shall take the steps specified in the second parag~aph of paragraph 17. . ae.,.:,,,,.. „ Q,~..,~...`~ rnr in tl~:c Cnruri~v IncM~mpnf c~ta~) ~1C Qiven hv dcliverine i~ or bv mailin¢ it a7. t~vsRao. r~~. • •v . ~ by first class mail uniess applicable law requires use of artother method. The notice shall be directed to the Prope»y Addre~s or any c?ther address Borrower desigru~tes by notice to Lender. Any notice to l.ender shall be given by first cl~cs mail to l.ende~'s address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Ixnder when given as provided in this paragraph. • 15. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security [nstrument or the Ncxe conilicts with appticable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the ccx~flicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. l6. Borrower's Copy. 8orrower shall be given one confbrmed copy of the NcNe and of this Security Instrument. t7. Transfer of the Property or a BeneP~cial Interest in Borrower. If all or any pan af the Property or any interest in it is sold or tranferred (or if a beneficial interest in $orrow~r is sold or transferred and Borrower is not a natural peru~n) without [.cnder's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Sec;urity Instrument. Nowever, this c~ion shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrumeru. If Lender exercises this option, l.erxier shall give $orrower notice of acceieration. The nolice shaii pravide a period of not less than 30 days from the date the notice is deiiveresj or maited within which Borrower must pay all sums secured by this Security [nstrument. [f Borrower fails ro pay these sums prior to the expiration of this period. i.ender may invoke any remedies permitted by this Security Instrument wiihout further rsotice or demand on Borrower. 18. Borrower's Rigbt ta Reiast~te. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time pri~r to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Inurument; or (b) entry of a judgment enforcing this Security [nstrument. Those conditions are that Borrower: (a) pays Lender all sums which then wouid be due under this Security Instrument and the Note had r~o acceleration occurred: (b) cures any defautt of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including. bui not limited to, reasanable attorneys' fees: and (d) takes such action as Lender may reasonably require to assure that the lien of this Security lnstrument. Lender's rights +n the Property and Bonower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinuatement by Borrower, this Securiry fnstrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apRfy in the case of acceleration under paragraphs 13 or 17. BOOK QAGE e~e~