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Home My WebLink About0958 • Any amount~ disburse~i by Lcncler uncler this paragraph 7,.hall be~ume additiunal debt of &~r~~wsr ~et?t~d trjr~h~.~9e~~urity . Instrun~nt. Unle~ Burrower arxi Lender dgree to ~xher terms uf payment, these amounts shall bear intere~l fran~tA~: ~i6te uf Ji.bur~cmc;nt . at the Ncxe rate arxi shall be ~ayable, with intercst~ upon natice from i.crxler ro Borrowe~ reque+ting payment. ' If L.ender required mortgage insurancc as a cimdition uf making ~he I~n ~cureJ by this Sf:curity Imtrument, &~rruwer .hall p~?y the premiunu required to maintain the insurdncti in efT'ect unti) such time as the reyuircment for tt~ insuranc~ ~erminates in ;K~onlarxe with Borrawer's and Lender's written agreert~rnt ar applirable law. 8. Inspectlon. L.ender or its agent may make reasonable entries upon a!xi inspectiun. of the Propeny. L.erxler .hall give &~rrower ncxice at the time of or prior to an inspection specifying reasonable cause for the inspection. ~ 9. Condemtwtion. The proceeds of any award or claim for clamages, dimct ur consequential, in ronnectiun with any cuncie:mnation ur other taking of any part of the Property, or for conveyance in lieu ofcondemnation, are hereby ~ssigned and shal) be paid to Lender. ~ In the event of a total taking of the Froperty, the proceeds shall he applied to ~he sums serured by this S~.•curiry lnstrument, > whether ur not then due, with any excess paid to Borrower. In the event of a partial taking af the Propeny, unless Burrower alxi ' Lender otherwise agree in writing, the sums secured by this Securiry Instrument shall be reducecl by the arixwnt ~~f the proceeds nmltiplied by the following fraction: (a) the tota! amount of the sums secured immediately before the taking, divided by (b) the fair market ~ ~ alue ~~f the Property immediately before the taking. Any balance shall be paid to Borrower. If the Property is abandoned by_ Borrower, or if, after notice by L.ender to Borrower that thc condemnor offers to make an ; award or settle a claim for damages, Borrower fails to respond to Lencier within 30 days after the date the n~xice is given, L.erxier 4 is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Propeny ur ro the sums secureJ > by this Security tnstrument, whether or not ther~ due_ 5 Unless (,ender and t3orrower otherwise agree in writing, any application of proceeds to prinripal sh311 na extend or p~~s~pone } the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount af such payments. ~ 10. Borrower Not Releaseel; Forbearance By Lender Not a Waiver. Extension of the time for µ~yment or mc~ification ot~ amartization of the sums secured by this ~ecurity Instnrment granted by l.ender to any successar in interest of Borrower shall n~x ~ operase to release the liability of the origina! Borrower or Borrower's successors in interest. Lender shall not be required to commence $ proceedings against any successor in interest or refuse to extenei time for payment or ottierwise modify amonization of the sums secureci ~ by this Securiry Instrument by neason of any demand made by the originai Borrower or Bomower's succeswrs in interest. Any forbeararx~e ~ by Lender in exercising any right or remedy shall not be a waiver of or prerlude the exercise of any right or remedy. _ 11. Successors and Assigns Bound; Joint and Several l.iability; Co-signers. The covenants and ag~eements of this Security ~ !nstrument shall bind and benefit the successors and assigns of Lender and Bo~-:-. Y -`Y~.: ~t:~,': ~ covenants and agreeinents shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Ncxe: (a) is co-signing this Security Instrument only to mortgage, grant• and convey that Borrower's interest in the Property under the terms of this Securiry (nstrument; ib) is not personally obligated to pay the sums secured by this Security Instrument; ancl (c1 agreesthat Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's ronsent. { 12. I.oan Charges. If the loan secured by this Security Instrument is subject to a law which sets mazimum luan charges, arni that law is finally interureted so that the interest or other loan charges collected ~r to be collected in connection with the ioan exceed , the permitted limits..then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted * limir, 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 prepayment without any prepayment charge under the Note. ~ 13. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has the effect of rendering any provision uf the Note or this Security [nstrument unenforceable according to its terms, Lender, at its option, may require immediate payment in full of all sums secured by this Security [nstrument and may invoke any jemedies permitted by Paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph af paragraph 17. - 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it ar by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to txnder shall be given by first class mail to Lender's address ~tated herein or any other address Lender designates by notice to Borrower. Any natice provided Eor in this Security Instrument shall " t~ deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. Governing Law; Severability. :'his Security Instrument shall be governed by ~ederal law and the law of the jurisdiction in which the Property is located. !n the event that any provision cx clause of this Securiry lnstrument or the Note conflicts with applicable law, such conflici shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this ~nd the provisions oi 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 iif this Security Instrument. 17. Tmnsfer of the Property or a Beneficial 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 not a natural per.tion) without Lender's ; i ~rior written consent. Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by ixnder if exercise is prohibited by federal law as of the date of this Security (nstrument. I ' If Lender exercises this option. Lender shall give Borrower notice of acceleration. The notice shall provide a period of not j less than 30 days from the date the notice is delivered or mailed within which Borrower must pay al) sums secured by this Security ' [nstrument. if Borrower fails to pay these sums prior to the expiration of this period, Lender may invake any remedies pertnitted ~ by this Security Instrument without further notice or demand on Borrower. IS. BorroKer's Right to Reinstate. [f Borrower meets certain conditions, Borrower shall have the right to have enforcement 4 of this Securiry Instrument discontinued at any time pr~ar 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 Securiry Inatrument: or (b) entry - of a judgment enforcing this Security [nstrument. Those conditions are that Borrower: (a) pays Lender all sums which then would t~e due under this Security [nsirument and the Note had no acceleration occurred; (b) cures any default of any other covenants or agreements; (c) pays all expeases incurred in enforcing this Security InstrumeRt, inctuding, but not limited to, reasonable attorneys' ; fees; and (d) takes such action as [.ender may reasonably require to assure that the lien of this ~ecurity Instrument. [xnder's rights E in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatemem by Borrower, this Socurity Instrument and the obligations secured hereby shall remain fully effective as if no acceleration = had cecurred. However, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17. ~ i ~ ~ ~ F ' i ~ ' BD~lK ~~J PAGE c~~~ ~ _ ~ s ~ ; ~ F