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Home My WebLink About0954 ( lf ' • If Ltnder required mortgage insurance as a 0~ rr~a~kip~~ loan secured by this SecUrity Instrument, Borrower shall pay thc premiums rtquired to maintainv~ urance in effect until such time as th~( ~~r the insurance terminates in accordance with Borrower's and Lendtr's writtrn agroement or applicable law?.-''~ 8. Iaspectioa. Lender or its agent may make reasonable entries upc~n and inspectiory~ of thc Property. Lender shall give Bortower noiice at the time of or prior to an inspoction spocifying rcasanabte cause for:tbe inapoction. 9. Coed~emnation. The procads of any award or claim for damages, dirxt or consequentieJ. in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby ~ assi~ned and shall be paid to Lender. . " ~ Itl~thc ~vent of a total taking of the Property, the proceeds shall be appliod to the sudis ~sxurod ~y~thia $o~~fity Instrument, whCtb~i, or ntt~'then due; with any exc~ss paid to Borrow~r. In the cvent of a partial taking of the Property, unless Borrower and`T.ende~otherwise agree in writing, the snms socured by this Security instrument shall be roducod by the amount of'the prc~c~eds~pl~ed by the following fraction: (a) the total amount ot the sums socured immodiately before the taking. divided ¢y (t~i) the fair ~arket value of the Property immadiately before tht taking. Any balance shall be paid to Borrower. ~ If ihe Property is abandansd by Bar~owor, or if, after notice by Lender to 8onower that the condemnor offers to ~ make an award or settle a claim for danqa~ Bonower fails to respond to Lender within 30 days after the date the notice is given, Lender is suthorize~ ~o collec`C ' ply the proceeds, at its option, eithtr to restoration or repair of the Property or to the sums sxured by this Secw~i~Y I~ict ~ ent, whether or not then due. Unless I.ender and Borb~er otherwise agrce in w~riting, any applicstion of proceeds to principal shall not extend or postpone the due date of the monthly payments refened to in paragraph's 1 and 2 or change the amount of such payments. ~ 10, Borrower Not Released; Forbearance Hy Lender Not a Waiver. Extension of the time for payment or - modification of amortization of the sums securod by this Security Instrument granted by Lender to any succes.wr in ~ interest of Borrower shall not operate to release the liabiiity of the original Borrowtr or Borcower's sucetssors in ir~terest. Lender shall not be roquired to commencx proc,-eedings against any sucassor in intuest or rcfuse to extend time for ~ payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made ~ by the original Borrower or Bonower's successors in interest. Any forbearance by I.ender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. # 11. Succes.SOrs and Assigns Bound; Joint and Severat Liability; Co-siguers. The vovenants and agreements of ~ this Sccurity Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions ~ of psragraph 17. Borrower's covenants and agreements shaJl be joint and several. Any Borrower who co-signs this Secutiry ~ Instrument but dces not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey ± that Bonower's interest in the Property under the terms of this Security Instrument; (b) is not personally abligatod to pay ~ the sums secured by this Security Instrument; and (c) agrees that Lender and any othtr Borrower may agree to eactend. ~ modify. forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without ' that Borrower's consent. " ~ ~ 12. I.oan (~arges. If ihe loan secur •~~Security Instrument is subject to a law which s~ts mauimum laan ~ charges, and that law is finally interpreted _.-u •:interest or other loan charges coltected or to be collected in ~ connection with the loan exceed the permitted limir , then: (a) any such loan charge shall be reduced by the amount ~ necessary to reduce the charge to the permitted timit; and (b) any sums already collecied from Borrow~r which eaceeded ~ 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 to Bonower. If a refund reduccs principal, the reduction will be treated as a ~ partial prepayment without any prepayment charge under the Note. ; 13. Ixgislstion Atfecting Leader's Rig6ts. If enactment or expiration of appticabte laws has the etfect of ` rendering any provision of the Note or this Security Instrumenf unenforceable according to its ternes, I.ender, at its option~ ; may rec{uire immediate payment in fu11 of a!1 sums secured by this Security Instrument and may invoke any remedies E permitted by paragraph 19. If Lender exercises this option, Lender shall Lake the steps specified in the second paragraph of ; P~B~Ph 17. 14. Notices. Any notice to Bonower provided for in this Security Instrument shali be given by deiivering it or by ~ mailing it by first class mail uniess applicable law requires use of another method. The notice shall be directed to the ~ Property Address or any other address Bonower designates by notice to I.ender. Any notice to Lender shall be given by ~ ftrst class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. My notice ~ provided for in this Security Instrument shal! be deemed to have been given to Borrower or Lender when given as provided ~ ~ in this paragraph. ~ 15. Governing I.~w; Severability. This Security Instrument shall be governed by federal law and the law of the ~ jurisdictic~n in which the Property is iocated. In the event that any provision or clause of this Security Instrument or the ; Note conflicts with applieable law, such conflict shall not affect other provisions of this Security Instrument or the Note ' which can be given effect without the conflictin~ provision. To this end the provisions of this Security Instrument and the ~ Note are declared to be severable. ~ 16. Borrower's Copy. Botrower shall be given one conformed copy of the Note and of this Security Instrument. 1~. Transter of tLe Property or a Beneficiat Intere~t in Barrower. If all or any part of the Property or any interest ir? ii is sold or transferred (or if a beneftcial interest in Borrower is sold or transferred and Borrower is not 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 Instrument. However, this optian shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Securitv Instrument. If Lender exercises this option, I.ender shall give Borrovver notice of acceleratian. The notice sha11 provide a perioci of not less than 30 days from the aate ihe notice is delivered or mailed within which Borrower must pay all sums secured by this Security jnstrument. If Borrower fails to pay these sums prior to the expirat~on of this period, I.ender may invoke any remedies permitted by ihis Security Instrument without further notice or demand on Borrower. 18. Borrov?er's Rigl~t to Reinstate. If Borrower meeis certain conditions. Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the eariier of: (a) S days (or such other period as applicable law may specify for reinstatement) beiore sale of the Properiy pursuant to any power of sale containe~ in this Security Instrument; or,(b) entry of a judgment enforcing this Socurity Instrument. Those conditions are ihat Borrower: (a) pays I,ender all sums which then would be due under tt~is Security Instrsiment and the Note had no acceluation occuned; (b) cures any default of any other covenants or agreements; (c) pays all ea~penses inc~.~rred in enforcing this Seeurity Instrument, including, but not limited to~ reasonable attorneys' fees; and (d) takes such ac[ion as Lender may reasonably require to assure that the lien of this Security Inswment, Lender's rights in ihe Property and Bonower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatetnent by Bonower, this Security Instrument and the obligations secure~i hereby shall remain fully eflective ~s if no acceleration had oceurred. However, this right to reinstate shall not apply in the case of acceleration under paragraphs l3 or 17. 108263 !P ~ PaGE 954