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Home My WebLink About0968 If Lerder reqwred mortgage +nsurance as a cond~Gon of makingihe loan secured by this Secunty Instrument, Barower shall pay the premwms requued to maintam ihe ~nsurance in effeCt until such t~me as the requirement for ihe insurance terminates ~n accordance with Borrower's and Lender's written agreement or applicable law. S. Insp~ctlon. lender or its agent may make reasonable entr~es uponand inspections ot the Property. Lender shall g~ve Barower notice at the time ot or prior to an inspec!ion specifying reasonable cause for the inspection. Cond~m~dion. The proceeds of any award or claim for damages, direct a consequential, in connection with any condemnalion or other taking of any part of the Property. or for conveyance in lieu of condemnat~on, are hereby ass~gned and shall be paid to Lender. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Securiry Instrument, whether or not then due, with any excess pa~d to Borrower. In the event of a part~al taking of the Property, un~ess Borrower and Lender otherwise agree i~ writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds mult~plied by the tol~owing fraction: (a) the total amount of the sums secured immed~atey before the taking, div~ded by (b> the fair market value of the Property immediatety belore the taking. Any balance shalt be paid to Borrowef. If the Property is abandoned by Borrower, or if, atter notice by Lender to Borrower that the condemnor offers to make an award or settle a ctaim for damages, Borrower fails to respond to Lender within 30 days after the date thenotice is g+ven. Lender is authonzed to collect and appy the proceeds, at its option, either to restorat~on or repair of the Property or to ihe sums secured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in wrlting, any application of proceeds to principal shall not extend or postpone the due date of the monthty payments referred to in paragraphs 1 and 2 to change the amount of such payments. 10. BorrowK Not RNeas~ Fo~aranc~ By lender Not a Walvsr. Extension of the time for payment or modification of amort+zation of the sums secured by th~s Secunty Instrument granted by Lender to any successor in mterest of Borrower shalf not operate to release the I~ability of the original Borrower or Barower's successors in interest. Lender shall not be required to commence proceed~ngs against any successor in interest or refuse to extend time for payment or otherw~se mod~fy amort¢ation of the sums secured by this Security Instrumer,t by reason of any demand made by the onginal Barower or Borrower's successors in ,nterest Any forbearance by lencfer in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 11. Successon and Aulyns Bounck Jotnt and Sw~rat LlabNity; Co-slqners. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Borrower's covenants and agreements shatl be ~oinl and several. Any Borrower who co-signs this Secu~ity Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage. grant and convey that Borrower's mterest in the Property under ihe terms of this Security Instrument: (b) is not personally obligated to pay the sums secured by this Secur~ty Instrument: and (c) agrees that Lender and any other Borrower may agree to extend, modity, forbear or make any ac~ommodations with regard to the terms of this Secursty Instrument or the Note without that Borrower's consert. 12. Loan Char~es. If the toan secured by th~s Security Instrument is subject to a faw which sets maximum Ioan charges. anci that law is fir,aily interpreted so that the interesi or other loan charges collected or to be co!lected m connection with the loan exceed the perm~tted fimits. then: (a) any such loan charge shall be reduced by the amount necessary to reducethechargetothe permitted limit; and (b) any s~ms a!ready col~ected from Borrower which exceeded permitted limits will be refunded to Borrower Lender may choose to make this refund by reducing the principal owed ~nder the Note or by making a direct payment to Borrower. If a refund reduces principal, the re~uction will be treated as a partial prepayment ~vithout any prepayment charge under the Note. i3. Leglslatiun ANecting Lenders Rlqhts. If enactment or expiration of applicable ~aws has the effect of rendering any prov:s~on of the Note or this Secunty Instrument unenforceable according to ~ts terms. Lender, at its option, may require immedfate j payment in fuil ot a11 sums secured by this Security Instrument and may invoke any remed~es permitte~+ by paraaraph 19. If Lender ` exerc~ses thas optfon. Lender shall take the steps specified in the second paragraph of paragraph 17 ~ 14. Notices. Any rotice to Borrower provided for in this Secur~ty Instrument shall be given by delivering it or by mailing it by f~rst class ma~l unless applicable law requires use of another method The notice shall be directed tothe Property Address or any ~ othe: address Borrower des+gnates by not~ce to Lender. Any notice to Lender shall be given by first class mail to Lender's address staled herein or ar.y oiher address Lender desfgnates by not~ce to Borrower. Any netice provided for ir. th~s Security Insirument ~ shall be deemed to have baen given to Borrower or Lender when given as provided in this paragraph. 1S. GovKnln~ Law; Severabllity. This Secur~ty Instrument shaA be governed by federal law and the law of the jur~sdict~on in which the Property is Iocated. ln the event that any provision or clause of this Security Instrument or the Note conflicts w~th appl~cable law, such confl~ct shall not affect other provisions o! this Security Instrument or the Note which can be g~ven effect w;thout the conflicting prov~si~n To this end the provisions of this Security Instrument and :he Note are declared to be severable. 16. Borrowe~s Copy. Borrower shall be given one conformed copy of the Nole and of this Security Instrument. 17. T~anster of the Property or a Benefldal Interat in Bwower. If ali or any part of the Property or any interest in it is soid or transferred (or rf a benefic~al ~nterest in Borrower is sold or transferred and Borrower is nof a natural person) w+thout Lender's prior written consent. Lender may. at ds optio~, require immed~ate 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 Secunty Instrument if Lender exercises this option. Lender shall give Borrower notice of acceleration The notice shall provide a period of not ~ less than 30 days from the date the nolice is delivered or mailed within which Borrower must pay all sums secured by this Security ~ Instrument. If Borrower faEls to pay these s~ms prior to the expiration of this period, Lender may invoke any remedies permilted by tnis Secunty Instrument wiihout further notice or demand on Borrower ~ 18. Borrow~s RIyM to Relnstate. If Borrower meets certain conditions, Borrower shall have the right to have ~ enforcement of this Security Instrument discontinued at any time prior to the eariier of: ( a) 5 days (or such other period as appl~cable ~ ~aw may speafy for reinstatement) bei~re sale ot ihe Property pursuant to any power of sate contained in this Security Instrument: x or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which ~ then would be due under this Security lnstrumeN and the Note had no accel2ration occurred: (b) cures any de!auit of any other ~ covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrumept, incl~ding, but no! timited to. ~ reasonable attorney's fees; and (d) takes such action as Lender may reasonably require ta assure that the lien of this Security ~ Ins?rument, Lender's righis in the Property and Borrower's obNgation to pay the sums secured by this Security Instr~mert sha?I continue unchanged Upon re~nstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fulfy eftective as i! no acceferat+on had occurred However. this right to reinstate shall not appty in the case of acceleration under paragraphs t3 or 17. ~ ~ ..t, ~!r' . ~ ~ ~ . ~~oN 496 P~~E 968 ~ _ . . . _ . . ; - = ; ~ _ ' ' - ~