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Home My WebLink About0966 qny anxwnts disbursed by .l.ender uncle~ this paragraph 7 sh:~il b~rome additiunal Jebt of &~rrower ~cured by thi, Serurity instnyr~~pt. Unless Borrower arxi L.ender agree ro~xher term~ of p~ayment, thesc a~mwnt~ shall be:tr intc:r~st f um tlx: c u~ Jisbur.enknt at_ the Note rate and shali be p:iyable, with interest, up~in notice from Lender to Borrower teq~p~ ~ayrheot,.~. • i . If L.ender reyuirecl nwngage insur~nce as a condition of making the loan secured by this? Serunry Instrument,~~rruwer ,h~ll pay the premiunu required to maintain the insurance in effect until such timc: ~ the reyuirement for the in~urarxY terniinates in ;xconl:i?xe with Borrower's and l,ender's written agreen~ent or applicable law. 8. Inspeetion. l.ender or its agent may make reasonable entries upon anci inspections of the Property. l.rncier sh:~ll giv~: &~rrower notire at the time of or prior to an inspection specifying reasonable cause for the inspection. 9. Condemnation. 7~e pcoceecis of any award or claim fcu damages, direct ur consequential, in a~nnection with any concizmnaticx~ or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Ixnder. In the event of a tot~l taking of the Propeny, the p~oceec~s shall be applied to the sums serured by this Security Instniment, whether or not then due, with any cxccss paid to Borrower. In the event of a partial taking of the Propeny, unless Barrower and l,ender otherwise agree in writing, the w~tu secur~d by this Security Insttument shall be reduceci by the anwunt uf the proceeds multiplieci by the following fraction: (a) the taal amount of the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any batance shall be paid to Borrower. If the Property is abandoned by $orrower, or if. after notice by L.ender to Borrower that the condemnor offer~ w make an award or setde a claim for damages, Borrower fails to respond to L.ender within 30 days after the date the notice is given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums secured il,:g C:_.~_-~~r~eY In~tn_mgn~ ~?hPthPr nr nn1 thPn [I~ie . Unless l.ender and Borrower otherwise agree irt writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. 10. Borrower Not Released; Forbearance By Leadet Not a Waiver. Extension of the time for payment or m~xiification of amortization of the sums secured by this ~ecurity Instrument granted by l.ender to any successor in interest of Borrower shall not operate to release the liabiliry of the original Borrower or Borrower's successors in ioterest. Lencler shall not be required to wmmence proceedings againu any successor in interest or refuse to extend time for payment or otherwise modify amottiudion of the sums secureci by this Securiry Instrument by reason of any demand. made by the original Borrower or Borrower's sucoe~rs in inter4st. M. ?y forbearance by l.ender in exercising any right or remedy shall not be a waiver of or preclude the exercise QE'any Fight ot rtme~y. 11. Successors and Assigns Bouad; Joint and Several t,isbility; Co-signers. The covenanis and agreemen[s of.tfiis Security lnstrument shall bind and benefit the successurs and assig~u of Lender and Borrower, subject to the provisions of QAfagraph t7. Borrower's covenants and agr+eements shall be joint and several. Any Borrower who casigns this Security 1nsWe~sent but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's'itttetest in .the Propeny under the terms of this Secarity [nstrument; (b) is not personally obligated'to pay the sums secured by this~Securiry Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the rerms of this Security Instrument or the Note without that Borrower's consent. 12. Loan Charges. lf the loan secured by this Security Instrument is subject to a law which sets maximum Ic,an charges, and that law is finaliy interpreted so that the interest or other loan charges collected or to be col~ected in connection with the loan 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 already collected from Borrower which exceeded permitted limits wilf be refunded to Borrower_ Lender may , rhoose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower_ If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 13. I.egisl~tion AffeMing Lender's Rights. If enactment or expiration of applicable laws has the effect of rendering any provisian uf the Nute or this Security Instrument unenforceabie according to its terms. Lender, at,its option, may require immediate payment in full of all sums secured by this Security Instrument and may im~oke aAy remedies permitted by paragraph 19. If Lender exercises this option, Lender shaii take the steps speciiied in cne second parag~aph uf pa~agrapti ii. 14. Notices. Any notice to Borrower provided for in this Security Instrument ~hall be given by delivering it or 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 design8tes by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address stated herein or any other address Lender designates by naice 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 Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. ln the event that any provision or clause of this Security Instrument or the Ncxe conflicts with applicable ~ law, such conflict shai) not affect other provisions of this Securiry Instrument or the Note which can be given effect without the conflicting il ~ ~ provision. To this end the provisions of this Security [nstrument 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 Instrument. 17. Transfer of the Property or a Beneficial Interest in Borrower. (f 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 arxi Borrower is ncx a natural person) without Lender's ~ prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Security lnstrument. ~ However, this option sha{! not be exercised by l.ender if exercise is prohibited by federal law as of the date of this Security Inswment. t~ [f Lender exercises this optioo, l.ender shall give Borrower notice of acceleration. The notice shall provide a period of not E less than 30 days from the date the notice is delivered or mailed within which Bcxrower musi pay all sums secured by this Security ~ Inswment. If Borrower fails to pay these sums prior to the expiration of this period. Lender may invoke any remedies permitted hy this Security Instrument without further notice or demand on Borrower. 18. Borrnwer's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement ~ of this Security Instrument discontinued at any time prior to the earlier of: (a) S days (or such other period as applicable law may E specify ~or reinstatement) before saie of the Property pursuant to any power of sale contained in this Securiry (nstrument: or (b) entry of a judgment enforcing this Security Instrument. Those conciitions are that Borrower: (a) pays Lender all sums which then would ~ be due under this Security Instrument and the Note had no acceleration occurred; (b) cures any default of any other cavenants or agreements; (c) pays all ezpenses incurred in enforcing 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 Barrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration ~ had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 1~. 9t k - . ! ~ ~ F ~pc~ ~ B~OK `tt~J PAGF ~U~ € ~ 6g i ~ . . . . . . _ - . . . ~ . ~ ' ~ _ ~