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Home My WebLink About0943 ~ . : ~ . . - ` . ~v ~ .f 1 } 1 If Lender requirrd mongage insun?nce as a condition of making the loan securod by this Socurity Instrum~t. ~ Bonower shxll pay the pr~miums roquired to maintain the inswance in effect until such time as the roqui:cment for the ; insurance terminates in accordanoe with Borrower's and L~?der's writtea agreement or applicable law. { 8. Inspecaon. Lendes or its agen? n~ay make reasonablc entries upon and inspoctions oi the Property. Lender ? shall give Borrower notice at tht time af or prior to an inspxtion specifying nssonable cause for the inspection. 9. Coademnatioo. Thr proceeds of any award or claim for damages. direct or consoqucntial. in connection with any rnndemnation or other taking of aay part uf tht Property. or for oonveyance in l'eeu of ~ondemnation. are hereby assigned and shall be paid to L.ender. ~ In i~e event of a total taking of the Property, the proceods shal! be appt;ed to the sums sxurod by this Security , Ir?strument, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender otherwise agroe in writing, the sucns socured by this Sxur.ty tnstrument shail be r~duced by t the amount of the procxds multipliod by tho following fraction: (a) the total amount of the sums secured immediately ~ before thc taking, dividcd by (bj the fair marlcet value of the Pmperty im~ediately before thc taking. Any balancx shall be paid to Bonower. ~ If tt,e Property is abandoaad by Barrow•er, or if~ sfter noticx by Lenc~er to Borrowcr that the condemnor offers t~ ~ makr_ an award or settlt a claim `or damages, Borrower fails to respond to Lrnder within 30 days aftrr the date the notict is = given, Lender is authorized to collect and apply the procoods, at its option, eithtr to restoration or repair of the Proptrty or ~ to the sums secured by this Security Instnunent, whether or aot tha~ due. ~ Unless Lender and Borrower otherwise agree in writing, any application of prooeods to principal shall not extrnd or ~ postpone the due date of the monthly payments referrod to in pamgraphs 1 and 2 or change the amount of such paymarts. t !0. Borrower Not Releaxd; Forbeanace By I,eader Not a Wairer. Extension of the time for paymeat or i modification of amortiuation of t~e sums socured by this Security Instrument granted by I.ender to any successor in ~ interest of Borrower shatl not operate to nlease the liability of the original Borrower or Borrower's successors_in iaterest. ~ Lender shall not be requirod to commenoe procadings against any succeswr in interest or refuse to eatend time for ' payment or ot6erwise modify amurtization of the sums socurod by this Security Instrument by reason of any demand made by the or~ginal Borrower or Borrower's successors in inierest. Any forbearance by Lender ir. exercising any right ar remedy shrJl nat be a waiver of or preclude the exereise of any right or remedy. li. Snccessors and Assig~t: Bonad; Jaint and Se.enl Liabllity; Co-s~en. The covenants and agreemcnss oP this Security Instrument shall bind aad benefit the suc~,sors and assigns of I,ender and Borrower, subject to the provisions of paragraph I7. Borrower's o~venants and agreements shall be joint and several. Any Borrower who casigns this Securisy Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to morigage, grant and convey tt.at Bonower's interesE in the Property under the ierms of this Security Instnunent; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other 8onower may agree to extend, modify, forbear or malce any accommodations with regard to the terms otthis Security Instrument or the Note witho~t ~ that Bonower's consent. ~ 12. Loan C6arges. If the ~oan seeured by this Security Instrument is subject to a law which sets maaimum loan charges, and that law is 8nally interpreted so that the interest ar other lo~n charges collected or to be collected in connection with the IQan excced the permitted Gmsts, then: (a) any such loan charge shaIl be reduced by the amount necessary to roduce the charge to the permittod limit; and (b) any sums already collected from Borrower which exceade~ permitted limits wilt be refunded to Borrower. Lender may cboose 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 wil! be treated as a p3rtial prepayment without any prepayment charge under !he Note. 13. I.egislation AEfeMing Lender's Rights. If enaciment or eapiration of applicabte laws has the ef~'ect of ~ rendering any provision of the Note or this Security Instrument uneriforceable according to its terms, Lender~ at its option, may require immediate payment in full of a11 sums secured by this Socarity Instrument and mav invoke any remedies permitted by paragraph 19. If Lender eaercises this option, Lender shall takP the steps specified in the second paragraph of paragraPh 17. 14. Notices. Any notice to Borrower pcvvided 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 another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to I.ender shall b~ given by ~ first class mail to Lender's address staied herein or any other addreas Lender designates by notice to Borrower. Any notice ~ provided for in this Security Instrument shall be deemed to have been given to Borcower or I.ender when given as provided ~ in this paragr~ph. ~ 15. Go~erning L,aw; Severability. This Security Instrument shall be governed by federal law and the law of the 3 jurisdietion in which the Property is located. In the event that any provision o~ clause of ihis Security Instrument or the ~ Ivote conflicts with applicable law, such conflict sha11 not affect other prorisions of this Security Instrument or the Note ; a~hich can be given effect withoui the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severabk. 16. Borrower's Copy. Bonower shall be given one confbrmed copy of the l~Iote and of this Security Instrument. 17. Transfet of the Property or a Benefcial Interest in Borrower. If all or any gart of the Property or any ~ interest in it is ~~Id or transfened (or if a beneficial interest in Borrower is sold or transferred and aorrower is not a natural ! person) without Lende*'s prior written consent, I,ender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shalt not be eaercised by Lender if exercise is prohibited by federai law as of the date of this Security Instrument. If Lender ezercises this opiion, I,ende: shail give Borrower notice of acceleratiun. The notie;: shall provide a period ; of not Iess than 30 days from the da?e the notice is dtliverad ~r mailed within which Bonower must pay all sums secured by this Securicy Instrument. If Borrower fails to pay these sums prior to the expiration ef this period, I.ende: may invoke any remcdies permitted by this Security I~strament with~ut further notice or demand on Borrower. 18. Borrorvet's Right to Rei:~tstte. It' Borrower meets cxrtain conditions, Borrower shall have the right -to have enforcement of this Security Ir.strument discontinued at any time psior to the eariier of• (a) S days (or such other period as a~plicable law may specity for reinstatement) before sal~ ot' the Property parsuant to any po~+er of sale contained in this Security Instr.?ment; or (b) eniry of a judgment enforc:n~ t}:is Security Instrument. Those conditions are t}~at Borrower: ; (a) pays Lenaer all sums which then would bc due under this Security Instrument and the Note had no accele~ation occuned; (b) cures any default of any other cover_ants or agr~ments; (c) pays all expenses mcurred in enforci;~g this Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) :akes such action as L.ender may reasonably require tc, assure that the iien of this Security Insirument, L.ender's rights in the Property and $onower's obtigation t~ pay !he sums sectired by this Security Instrument shall continue unchanget~. Upon reinstatement by Borrower, ihis S:curity Instrumeni and the obligations secured hereby shali remain fully effective as if no acceleration had ~ occurred. However, this right to reinstate shall nflt apply in the case of acceleration under paragraphs 13 ar 17. gooK 494 PAGE 941 : _ - - - _ - - -