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Home My WebLink About0994 Any an~.wnts di~bur~d by l.erufer un~fer thi~ paragrapt~7 ~hall =~cY~?:ne addi~i~?nal deb~ ~~f &xrower u~ured hy thi~ S~curity Irwctrument. Unless Borrower and Lerxier agrc~e to ~xher ternu uf payment, tix:se ~nwur,t~ ~h:~ll bear intent~{~rc~n~he dat~ uf~i~~nx:n~ at the N~ue rate arxi shall be payabk, with interest,•upon naice from Lcnder to &~rruwer reyuestin~+~ay cnt. • If LenJer reyuued mongage insuranre as a coJxlition af making the laan securrd by thia S~curity (n~trumen~, &~rruw~er ~h:~ll pay the premiun?s requirs~l to maintain the insuia~xe in effert until ~uch time :u the rcquirenx:nt f~x the in~ururxe tem~irwte+ in arrc~rd3nr~ ; with &~rruwer's arxl l..encier's written agreenx;nt or applicable law. ~ 8. lnspection. Len~ler or its agent may make reasonable entrie~ upon and in~pections of ttx; Property. La:nder sh311 give &?rrower ~ nutire at the time of or prior to an inspection specifying reau~nable cauae for the inspection. ; 9. Condentrwtion. Thr proceeds of any award or claim for ciamages, dire~.~t ur coroequ~:n~ial, in a~anectiun with any corniemnation ~ ur other taking of any part of the Propeny, or for canveyance in lieu of condemnation, are hereby assigned and shall t?e paid to Lender. In the event of a total taking of the Propzrty, the proceeds shall be applied ta the sums secured by this S~.~curity Instrument. w~hether or not then due, with any cxcess paid to Borrower. !n the event of a partial taking af thc Properry, unless Borrower :~nd { Leixier ~xlx.rwi+e agree in writing, the sums secured by thi~ Security lnstrument shall be rc~1;i:~d by thc a~rxwnt of the prcxeeds multipliecl < by the folluwing fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market ` ~ alue of the Propeny immediately before the taking. Any balarx-e shall be paid to Borrowrr. , If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the rorxiemnur offcrs tu make an aw:trd or settle a claim for damages. Borrower fails to respond to Lender within 30 days after the date the notice is given, l.ender ~ i~ authorized to collect and apply the proceeds, at its option, either to restoration or repair ~f the Property ur to the sum~ secured j by this Securiry Instniment, whether or not then due. ~ Unless Lender and Borrower otht~w~~:. ~gree in writing, any application of proceeds to principal shall ncx extend ~~r po+tp~~ne ~ the due date of the monthly payments referred to in p:~ragraphs 1 and 2 or change the amount of such payments. = 14. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or mc~difiration of ~mortization of the sums secured by this Security Instrument granted by l.ender to any successor in interest af Borrower shall not ~ operare to release the liabiliiy of the original Borrower or Borrower's successors in interest. Lencier shall not be reyuired ro commerx~e ~ pr~xeedings against any successor in interest or refuse to extend time for payment or otF~erwise maciify amortization of the sums secureci j by this Security Instrument by rea.con of any demand made by the original Borrower or Borrower's ~uccessors in interest. Any forbearance ~ by Lender in exercising 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 Liability; ~o-signers. The covenants and agreemen~s of this Security ~ lnstsvment shall bind and benefit the successors and assigns of L.ender and Borrower, subject to the provisions of paragraph 17. Borrower's ~ ruvenants and agreements shall be joint and several. Any Borrower who casig~ this Securiry Instrument but does not execute the z Note: (a) is co-signing this Security Instrument anly to mongage, grant and convey that Borrower'~ !~fPfPJ ~t,P Property under ~ the terms of this Securiry Instrument; (b) is not personally obligated to pay the sums secured by this Securiry Instrument: and 1~ ) Y agrees that L.ender and any other Borrower may agree ta extend, modify, forbear or make any accommodations with reg~rd to the ~ I terms of this Security Instrument or the Note with~wt that Borrower's consent_ ~ 12. Loan Ciutrges. If the loan secured by this Security lnstrument is subject to a law which set> maximum loan charges. and -E . that law is finally interpreted so that the interest or other laan charges coliected or to be collected 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 will be refunded to Borrower. [.ender may ~ choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund ~ reduces principaf, the reduction will be treated as a partial prepayment without any prepayment charge under the Ncxe. ~ 13. Legislation AfTecting Lender's Rights. lf enactment or expiration of applicable laws has the effect of rendering any provision ~ vf the Note or this Security Instrument unenforceable according to its~terms, Lender, at its option, ma~r require immediate payment ~ in full of all sums secured by this Security Instrument and may invoke any, remedies perr~iRted by paragraph 19. If l.ender exercises ' this option. Lender shall take the steps specified in the second paragraph of paragraph 17, . - ; 14. Notices. Any notice to Borrower provided for in this Securiry lostrument shall be given by delivering it or by mailing it ; b} first clas~ mail unless applicable law requires use of another method. The notice shall be~~ :CC~ P~!~perty Address or any I other address Borrower designates by notice to Lender. Any notice to l.ender shall be~given by first class mail to i.ender's address ; ~tated herein ar any other address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall ' he deemed to have been given to Borrower or Lender when given as provided in this paragraph. ~ : . I' h II be overned b federal law and the law of the 'urisdiction e 15. Governing Law; Severab~hty. This Secunty Instrument s a g y 1 ~ in which the Property is Iocated. In the event that any provision or clause of this Security Instrument ar the I~Icxe conflicts with applicable - ~ law. such conflict shall not affect other provisions of this Security Instrument 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. Borrow•er'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. If all or any part of the Property or any interest in it ~ wld or tranferred (or if a beneficial interest in Borrower is wld or transferred and Borrower is ncx a nawral person} without Lender's ~ prior written consent. L.ender may, at its option, require immediate payment in full of al! sums secured by this Security Instrument. 1 However, this option shall not be exercised by Lender if exercise is prohibited by fed~ral law as of the date of this Security Instrument. ~ [f L.ender exercises this option. Lender shall give Borrower notice of acceleration. The notice shall provide a period of nw ~ less than 30 days from the date the notice is delivered or mailed within which Borrower must pay al) sums secured by this Security _ lnstrument. If Borrower fails to pay these sums prior to the expiration of this periocl. Lender may invoke any remedies permitted - hy this Security Instrument without further notice or demand on Borrower. ; 18. Sorrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have ihe right to have enforcement ~ of this Securiry Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuaret to any power of sale contained in this Security Instrumenr, or (b) entry ~ of a judgment enforcing this Security lnstrument. Those conditions are ti~at Borrower. (a) pays L.ender all sums whirh then would ; ~ be due under this Sec~rity Irtstrument and the Note had no acceferation o~curred: (b) cures any default of any other covenant. or ti ~ agreements; (c) pays all expenses incurred ia enforcing this Security Instrument, including, but not limited to, reasonable attorneys' ' ~ fees; and (d) takes such action as [.ender may reasonably require to assure that the lien of this Security Instrument, Lender's rights ~ ~ in the Properry and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon ~ ~ reinstatement by Borrower, this Security Instrument and the obligations ~ecured hereby shall remain fully et7ective as if no acreleration ~ had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 nr t7. y ~ - - s 3 ~ BtI~K 4~~ PdGE ~2 . ;