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Home My WebLink About0936 . i . ~ • ~ Any amounts ;iisbursed by Len~l~ ,.hder this parabrapfi 7~hst') bc~ume additiun~F~ht af &~rr~ ~t ~t~ured by ,t~i~ Security `rln~trument. Unless Bor~ower arxi l.ende~ :?g~er tu at~r te~rpu of payment, ttxse anxwnt~.hall bwr intcn~t fn?m the Jate uf di,twnenkm et the Ncxe rate and shall be payable, with interest, upon notice fmm L.ender to &~rrc~we~ reyuc+ting payment. ~ if l.ender rcyuired mortgage insurance as a condition uf making the loan secured by this Security Irutrumen~, &~rruwer shsll 4~.• ,pay the premiums required to mainta~n the insuran~~e in effect until such time as the requirement,~r the in.wrance temiinatesin actiordarxe with Burrawer's aixl l.ender's writtcn agreement ar applicable law. i~~ ~ 8. lr~spection. Lender or its agent may rnake reasonable entries upon arxi inspections of the Qropeny. Lencier shall give &~rrower notice at the time of or` p~ior to an inspectian specifying rea.~onable cause for the inspection. 9. Condemtwtion. The proceeds of any award or claim for damages, direct ur consequential, in connecti~~n with any c~xxkmnation or other taking of any pan af the Property, or for conveyance in lieu of condemnation, are hereby ~ssignc.d and shall be paid tu L.ender. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid ta Borrower. In the event of a panial taking of the Property, unless Borrower and Lerxier othenvise agree in writing, the sums secured by this Security Inurument st?all be reduced by the anxwnt of the procec~i.~ multiplieel by the following fraction: (a) the total amount of the sums secured immediately befare the taking, ciivided by (b) the fair market value of the Property immediateiy before the taking. Any balarxe shall be paid to Borrower. lf the Property is abandoned by E3orrower, or if, after notice by l.ender to Borrower that the corxlcmnor offers to make an award or settle a claim for damages, Borrower fails ta respand to Lender N ithin 30 days after the date the notice is given, l.eniier is authorized to collert and ~ply the proceeds, at its option, either to restoration or repair of the Property ur to the sums secured by this Security In~trument, whether or not then due. _ ~ Unless Lender and 8orrower aherwise agrce in writing, any application of proceeds to principal shall not extend ~~r p~stpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amcwnt of such payments. 10. Borrnwer Not Released; Forbearpnce By Lender Not a Waiver. Extension of the time for payment or moditication of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest af Bormwer shalt not operate to release the liabiliry of the original Borrower or Borrower's successors in interest. Lencle~ shall not be required to commence proc~edings against any successor in interest or refuse [o extend time for ~+ayment or othervvise modify amortization of the sums securecl by this Security Instrument by reason 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 8ound; Jant and Several Liability; Co-signers. The covenants artd agreements of this Security Instrument shall bind and benefit the successors and assigns of L,ender and Bormwer, subject ro the provisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who cc~-signs this Security Imtniment but dces not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property urxier the terms of this Security lnstrument; (b) is not personally obligated to pay the sums secured by this Security lnstrument; and lc? agrees that I.ender and any other Borrower may agree to extend, modify, forbear or make any sccommodations with regard to the terms of this Security Instrument or the Note without that Borrower's conscnt. !2. Loan Charges. If the loan secured by this Security Instrurr~nt is subject to a law which sets maximum loan charges, an~l that law is finally interpreted so tha~t the interest or other loan charges collected 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 rharge 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 ~~wed under the Ncxe or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a panial prepayment without any prepayment charge under the Note. 13. Legislation Affecting I.ender's Rights. lf enactment or expiration of applicable laws has the effect of rendering any provision oi the Note or this Security Instrument unenforceable according to its terms. Lende~. aE its option, may require immediate payment ' in fuli of ali sums secured by this Security Instrument and may invokt any remedies permi4ted by paragraph 19. If Lender exercises this aption. [.ender shall take the steps specified in the second paragraph of paragraph 17. , 14. Notieec. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of anather meihod. Tt~e notice shall be directed to the Property Address or any other address Borrower designates by notice to l.ender. Any notice to L.ender sqall be given bx first clatis mail to Lender's address ~ ' stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Serurity Instrument shall ! be deemed to have been given to Borrower or L.ender when given as provided in this paragraph. E I5. Governing Law; Severability. This Security Instrument shall be governe~ 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 lnstrument or the Ncxe conflicts with epplicable E law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the contlicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Bor~ower shall be given one conformed coPy of the Nate and of this Security In,trument. 17. Transfer o[ the Property or a Beneficial Interest in Borrow•er. If al) or any part nf the Property or any interest in it • is sold or tranferre~ (or if a beneficial interest in Borrower is sold or transferred and Borrower is nM a natural person) without Lender's prior written consent, i.ender may, at its option, require immediate paymerst in fuf{ of all sums secured by this Secarity Instrument. _ However, this option shall not be exercis~d by Lender if exercise is prohibited by federal law as of the date of this Securi:y Instrument. If Lender exercises this option, ~.ender shall give Borrower notice af acceleration. The notice shall provide a period of ncx less than 30 days from the date the notice is delivered or mailed within which Borrower must pay a!I sums serured by this Security (nstrument. If Borrower fails to pay these sums prior to the expiration of this period. Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrovver shafl have the right to have enforcement of this Security Instrumeni discontinued at any time prior to the earlier of: (a) 5 ~iays (or such other period as applicable law may specify for reinstatemeni) 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 lnstrument. 7'hose conditions are that 8orrower: (a) pays Lender all sums which then wcwld be due under this Security Instrument and the Note had no acceleration occurred; (b) cures anj+ default of any other covenantti ar agreements; (c) pays all expenses incurr~ in enforcing this Security tnstrument. i~cluding, but not limited to. reasonable attorneys' ~ fees; and (d) takes such action as l,ender may reasonably require to assure that the (ien of this Security Instrument, Lerxler's rightti in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borcower, 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 17. BO~K`t~~ P~CE,~, 1~~1 annX ~t~~ P~cE ~ ~ _ , t__ _ - . _ - 9tt: ~