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HomeMy WebLinkAbout0919 It Lender required mortgage insurance as a condition of making the loan secured by this Securiry Instrument, Borrower shall pay the premiums required ;o maintain the ins~rance in eHect until such time as the requirement for the insurance te~minates in accordance w+th 8orrower's and Lender's writlen agreement or applicable law. 8. InspecUon. Lender or its agent may make reasonable entries upon and inspections o( the Property. Lender shall give Borrower notice at the time of or prior to an inspeciion specitying reasonable cause tor the inspection. g, Condemnation. The proceeds ot any awa~d or claim for damages, direcl or consequential, in connection with any condemnation or other taking of any part of tha Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In the event of a total taking oi the Property, the proceeds shall be applied to Ihe sums secured by this Secur9ry Instrument, vir~ethar or not then due, with any excess paid to Borrowec In the event of a partial taking of the Property, unless Borrower~and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amouni of the proceeds multiplied try the following Fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking. My balance shall be paid to Borrower. If the PropertY is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor otters to make an award or settfe a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Securiry Instrumant, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application o1 proceeds to principal shall not extend or postpone the due date ot the monthly payments referred to in paragraphs t and 2 or change the amount of such payments. ~p, goROwer Not Reisased; Forbearanoe gy Lender Not a Waivef Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liabiliy of the original Borrower or Borrower's successors in interesi. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or othervvise modiiy amo~tization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising arry right or remedy shail not be a waiver of or preclude the exercise of any right or remedy. 11, Sucxessors snd Assigns Bound; Joint and Several Liabi{ity; Co-sp~ers. The cavenants and agreements of this Securiry Insirument shall bind and benefit the successors and assigns of lender and Borrower, subject to the provisions ot paragraph 17. Borrower's covenants and agreements shall be joint and several. My B~rrower who co-signs this Securiry Instrument but dces not execute the Note: (a) is Co-signing this Securiry Instrument only to mortgage, grant and convey that BoROwer's interest in the Property under the terms of this Security Instrument; (b} is not personally obligaied to pay the sums secu~ed by this Securiry Instrument; and (c) agrees that ; Lender and any other Borrower may agree to extend, modify, forbear or make any accommodatio~s with regard to the terms of this ~ Securiy Instrument or the Note without that Borrower's consent. 12. Losn Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and that ; law is finally interpreted so that 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 charge 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 owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. ~ 13. Legialation Affecting Lender's Rights. It enactment or expiration of applicable laws has the effect of rendering any provision of the Note or this Security Instrument unentorceable according to its terms. Lender, at its option, may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies permitted by paragraph 19. If Lender exercises this option. Lender shall take the steps specified in the second paragraph oi paragraph 17. 14. Notices. My notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail untess applicable law requires use of another method. The notiCe shall be directed to the Property Address or any othe~ address Sorrower designates by notice to lender. Any notice to lender shall be given by first class mail to Lender's address stated herein or any i other address Lender designates by notice to Borrower. Any notice provided for +n this Security Instrument shall be deemed to have been ! given to Borrower or Lender when given as provided in this paragraph. ~ 15. Goveming Law; Severability. This Security tnstrument shall De governed by federal law and the law of the jurisdiction in which ; the Property is located. In the event that any provision or clause of this Securiry Instrument or the Note conflicts with applicable ia~v, such conflict shall not affect other provisions of this Securiry Instrument or the Nete which can be given effect without the conflicting ~ pravision. To this end the provisions of this Securiry instrument and the Note are declared to be severable. ~ tg. Borrawers Copy. Borrower shall be given one conformed copy ot the Note and of this Securiry Instrument. ~ 17. Transfer of the Prope~ty or a Beneficisl Interest in Borrower. If all or any part of the Property or any interest in it is sold or ~ transferred (or if a beneficial interest in Bnrrower is sofd or transferred and Borrower is not a natuial 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 option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Securiry Instrument. ~ If Lender exercises this option, Lender shalt give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security tnstrument. If ` 8orrower fails to pay these sums pnor to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 16, Borrower's Riyht to Reinatate. If Borrower meets certain conditions, 8orrower shafl have the right to have enforcement of this ~ Security Instrument discontinued at any time prior to the earlier of: (a} 5 days (or such other period as applicable law may speci(y for reinstatement) before sale of the Property pursuant to ar~y power of sale contained in this Securiy Instrument; or (b? entry of a judgment ~ enforcing this Security ~nstrument. Those conditions are that Borrower: (a) pays lender all sums which then would be due under this ~ Security Instrument and the Note had no acceleration occurred; (b) cures any defautt of any other covenants or agreements; !c) pays all fr. expenses incurred in enforcing this Security Instrument, incl~ding, but not limited to, reasonable attorneys fees; and (d) takes s~ch action ~ as Lende~ may reasonably require to assure that the lien of this 5ecuriry Instrument, Lender's rights in the Piroperty and Borrower's ~ obligation to pay the sums secured by this Securiry Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security ~ Instrument and the obligations secured hereby shall remain fully effective as if no accelerati~n had occurred. However, this right to ~ reinslate shalt not apply in the case ~f acceleration under paragraphs 13 or 17. ~ ~ ~ ~ ~ a~R~496 ~E ~i9 v.qe3a~ ~ ~ FLORIDA-Stnqle Family-FNMA!FHLMC UNIFOfiM INSTRUMENT Form 3010 12/83 ~ GF FL50025 7/84 " 8i7" ~ t) 9`~ • 1~r~' 1, ~:~u,~t ~ _ ' ~ ~~~;;r -~eT~"-`.,5;:-';'- c; ~rs : ~.z~ ~ .;V;~,~~ - - ~ . ~ . _ . . _ _ .