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Home My WebLink About0940 . ~ tf Lender required moRgage instuance as e Condition o! makingthe loan secured by this Securihr I nstrument, Borrower shall ~ pay the premiums required to meintain the instxenoe in eHed unttl such time as the requ'rement br the insurancs terrt~nates in 8coordance with 9orrower's anc~ Lender's written a~teemer~ or applicable law. ~ Insp~tbn. Lender or its agent mey meke reasonable entries upon and inspections d the Property. Lender sha11 give Borrower ndice at the time of or prior to an inspedion specifying reasa~nae cause fot the insp~ction. CondMnnallon. The prcx~ d emi award a Caim br damages, dired or cor~equential, in conned'qn wilh eny condemnation or olher taking ot any part ot the Property, or br corneyance in Neu of condernnation, are hereby assigned and shaN be paid to Lender. In the event of a totaf taking otthe PropeAy, the proceeds sha!! ~ applied to the sums secured by this Secuidy Inst?ument, whether or not then due, with any excess paid to Borrower. In the eve~t of a partial taking ot the Property, unl83s Borrower and Lender otherwise agree in writing, Me sums secured by ttvs Security Inatrumeni shall be reduoed by the amount of the prooeeds multiplied try the following haction: (a) the tdal emouM of the sums secured immediately before lhe taking, divided by (b) the fair merket value of the Property immediatey before th!e taking Any balsnce sheN be paid to Bar~. If the Property is abandoned by BoROwer, a if, after notice by lender to Barower that the condemna otfers to make an award or seriie a aaim ror ciamages, Bar~ fails to respond to Lender within 30 days after the date the ndice is given, Lender is suthorized to collect and apply the proceeds, at its option, either to restaation or repair ot the Property or to the sums secured by this Security Instrument, wheiher or not then due. • Unless Lender 8nd Borrower otherwise egree in writing, any apptication of proceeds to principal sh811 not ente~d or postpone the due date of the monthly payments referr~d t~ in paragraphs 1 and 2 to change the a~sount of such payments. 10. BorrowK Not RNtar~ Forb~arano~ By L~nd~? t~iot a Wahr~?. Extension of the time for payme~t a rn~;~,,a~~~ ~ ~ oi amort¢ation ot the sums secured by this Securiry Instrument p~anted by Lender to any successar in interest of Borrowec shaH not opeiate to release the liabiiity of the original Borrower or Borrowei s succes~ors in interest. Lender shall not be required ro commec~ce proceedings against any sucoessor in irrterest or ~efuseto ~id~diimefor payment or dherwise modify amort¢ation af the sums secured by this Security Instrument by reason of any demandmade by the originat Borrower or Borrower's sucCessors in interest. Any forbearance by Lender in exerasing any right or remedy shall r?ot be a waiver of or preclude the exercise ot any right or remedy. 11. Sucasaon and Aasl~ns Boun~ JofM and 8w~1 Ltab~lt~/; Co-NpnK~. The covenants and agreements of this Secxuiry Instrument shaH bind and benefit the suCCessors and assigns of Lender and 8orrower, suqect to the provisiors of paragraph 17. Borrower's covenants an~+ agreements shal! be joinrt and several. My Barower who ca-signs this Securiry Instrument but daes not execute the Note: (a) is co-s~gning this Security Instrument ony to maigage, g!ani and convey that Barower's interest in the Property under the terms ot this Securiry Instrument; (b) is nd personaly oWigated to pay the sums secured by this Securiry Instrument; and (c) agree.s that lender and arry other Borrower may agree to extend, mod~ty, forbear or ~~~dRe any accommodations with regard to the terms of this Secu~ity Instrument a the Note wdhout that Borrower's consent. tZ. Laa~ Char~s. If the loan secured by this Security Instrument is subjed to a law which sets maximum M?n cha~~, and that law is finaly interpreted so that the interest or other ban charges colleded or to be collected in connection with 1he loan exceed the permitted limits, then; (a) any such loan charge shall t,e reduced by the amour~ necessary to reduce the chargetothe permitted limit: arsd (b} any sums already collected from Borrower which exceeded permitted limits wil! be refunded to Botrower. lender may choose to make this refund by reduang the prinapal owed under the Note ot by making a dired payment to Borrower. If a refund reduces principal, the reduction wilt be treated as a partial prepayment vrithout any prepayment charge under the Note. 1~. L~tlatlon Aff~dln~ L~ndws Rl~hts. If enactment w expiration of applicable taws has the effed of rendering any provision of the Note or this Security Instrument unentorceable accordinglo its terms, lender, at its option, may requ~e immediate payment in full of al{ sums secured by this Security Instrument and may invoke arry remedies permitted b~r paragraph 19. If Lender exercises this option, lender shall take the steps specified in the seoond paragraph of paragraph 17. 1~. NoNe~~. Any notice to Barower provided for in this Security Instrument shail be given by delivering it or by mailing it - by firs! class mail unless applicable law requires useof another method. The noticesha~l be directedtothe Property Address or any other address Borrower designates by notice to Lender. Ary notice to iencier shall be given by first ctass mail to Lender's address stated herein or any other address Lender designates by notice to Bortower. Any notice provided for ~ this Security Instrument shal! be deemed to have been aven to Borrower or Lender when g~ven as provided in this paragraph. 15. Gjov~min~ Law; 8N?uabi~. This Securiry Instrument shall be governed by feciera! law and the law of the jurisdiction in which the Property is located. Inthe eveni that any provision or clause ofthis SeCUrity Instrument orthe Noteconflids with applicable law, such conflict shall not affed other provisions ot this Security Instrument or the Note which can be giveN effect without the confiiGing provision. To this end the prwisions of this Security Instrument and the Note are deGared to be severable. 1a. Borrowws Cop~?. Borrower shall be given one coMormed copy of the Note and of this Security Instrument. 17. TnnsfK of th~ PropKty or s B~nMIdallMu~st In BorowK. If all or arry part of the Property or any ~terest in A~s soid a transferred (or rf a beneficial interest in Borrower is sold or transterred and Barower is not a natural person) without lender's prior written consent, Lender may, at RS option, require immediate ~ayment i(~ full of a!I sums secured by this Secur'ity Instrument. ~ However, this option shall not be exercised by lender 'rf exercise is prohibited by federal law as of the date of this Securiry lnstrum~t. If Lender exercises this option, Lender shall give Borrower notice of acceleraticn. The notice shall provide a period of not I~s than 30 days fram ttte date the notice is delivered ~ mailed within which 8orrower mus4 pay all sums seCUred by this Security Instrument. Ii Borrower tails to pay these sums prior to the expirat~on of this peri~od Lender may invoke arry r2medies permitted by this Security Instrument without further notice or demand on 8onower. 18. 8orrowu"s Rl~ht to RNrntat~. If Borrower meets certain oonditions, Borrower shall have the right to have enforcement of this Secunty Instrument discontinued at arry time prior tothe earlier of. (a) 5 days (or such other period as ap~licatke ?aw may speciry for reinstatemeni) before sale of ihe Property pursuant to any power of sale contained in this Security Instrument: or (b) entry of a ju~jment enforcing this Security lnstrument. Thase condiiions are tha~ B~rower: (a) pays Lender all sums which then would be due under this Secu~ity Instrument and the Note had no accel~ation occurred; (b) cur~s arry defauft of any other covenants or agreemenis; (c) pays a~l expenses incurred in enforcing this Securrty Instrument, induding, but nd iimited to, reasortiable attorney's tees; and (cn takes such adion as lender may reasonably require to assure that the lien of this Security i Instrument, lender's rights in the Propesty and Borrower's obligation to pay the sums secured by this SeCUrity Instrument sha11 corn~nue unchanged. Upon reinstatement by Borrower, ihis Security Instrument and the obiigat~ons secured hereby shall remain ! )uly eifectivs as if no acceleration had occurred. However, this right to reinstate shall nflt apply in the case of acceleration un~ ~ { paragraphs t 3 or t 7. : } . i € . . • ~ ~ BOa( ~ fAGf ~ ~ ~ ~ ~ . _ _ ~ . - - ~ _ ~ :