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Home My WebLink About0975 i 1 y • • ~ • ' ti? If Lender required mortgage insurance as a co~dition ot making the loan secured by this Security Instrument, Borrower shall pa~• ihe premiums required to maintain the insurance in etTect until such time as the requirement for the insurancr terminates in accordance with BorroK~e~'s and Lender's written agreement or applicable law. 8. [nspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall g~~ e Borroa•er notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnatian, are hereby as~igned and shall be paid to Lender. In the e~ent of a tota! taking oP the Property, the pra:eecis shall be applird to the sums secured by this Security instrUment, w~hether 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 agree in writing, the sums secured by th~s Security Instrument shall be reduced by thr amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums sec:ured immediately I before the tak~ng, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to Borrow•er. If the Property is abandoned by Borrower, or if, aiter notice b}~ Lender ro Borrower that the condemnor offers to make an award or settle a claim for damages, Borrow•er fails to res~nd to Lender w•ithin 30 days after the date the notice is gi~~en, Lender is a~thorized to collect and appl}• the proceeds, at its option, either to restoration or repair of the Propert~~ or to the sums sec:ured by this Security Instrument, whether or not then due. Unless Lender and Borrow•er otherwise agree in writing, any application of proceeds to principal shall not extend or ~stpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of'such payments. ; 10. Borrower \ot Released; Forbearance By Lender Not a V~'aiver, Extension of the time for payment or - modification of amortization of the sums secured by this Security Instrument granted by Lender to an~• successor in - i~~terest of Borrow•er shall not operate ro release the liability of the original Borrower or Borrow~er's successors in interest. Lender shall not be required to commence pr~xeedings against any suecetisor in interest or refuse to extend tinie for E ; pay~ment or otherHise modifS~ amortization of the sums secured b}~ this Security Instrument by reason of any demand made b}• the ariginal Borrow~er or Borrower's successors in interest. An}~ forbearance b}~ Lender in exercising any right or remedy = shall not be a w~aiver of or preclude t!~e exercise of any right or remed}•. 11. Successors and Assigns Bound; Joint and Sereral Liability~; Co-signers. The covenants and agreements of ~ this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the pro~•isions ~ of paragraph 17. Borrow•er's covenants and agreements shall be joint and several. Any Borrower w•ho co-signs this Security Instrument but dcxs not execute the Note: (a) is co-signing this Security~ Instrument only to mortgage, grant and convey that Borrower's interest in the Propert~~ under the terms of this Security Instrument; (b) is not personally obligated to pa}~ the sums secured b~~ this Secunty Instrument; and (c) agrees that Lender and an~~ other Borrower may agree to extend, modify, forbear or make am~ accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. - 12. Loan Charges. tf the loan secured b}• th~s Security Instrument is subject to a law w~hich 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 ezceed 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) an}• 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 anj• prepayment charge under the Note. ' 13. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has the effect of " ; rendering an}~ pro~~ision of the Note or this Security Instrument unenforreable according to its te~ms, Lender, at its option, ~ ma}• require immediate pay~ment in full of all sums secured b}~ this Securit~~ Instrument and may invoke any remedies • ~ permitted bp paragraph 19. If Lender exercises this option, 1_ender shall take the steps specified in the sernnd paragraph of _ f paragraph 17. 14. lotices. Any notice to Borrow•er pro~~ided for in this Srcurit~~ Instrument shal) be given by delivering it or b}~ ~ mailing it by first class mai! unless applicable la~~ requires use of another method. The notice shall be directed to the Propert}~ Address or an}' other address Borrow•er designates by notice to I.ender. Any~ notice to Lender shall be given by first class mail to Lender's address stated herein or an~~ other address Lender designates by notice to Borrow•er. Any notice provided for in this Security Instrument shall be deemed t~ ha~~e been giten t~~ Borrow~er or Lender when given as provided in this paragraph. 15. Governing Law; Severability. This Securit~ In~trument shall t~ gu~~erned by federal law and the law~ of the jurisdiction in which the Property~ is located. In the event that an}~ pro~•ision or clause of this Security Instrument or the tiote conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note w~hich can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the tiote are declared to be severable. 16. Borrower's Copy. Borrow•er shall be given one conformed copy of the Note and of this Security Instrument. 17. Transfer of the Property or a Beneficial Interes! in Borrower. If all or any part of the Property or an}~ . ~ ~nterest in it is sold or transferred (or if a beneficial 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 option shall nor be exercised by Lender if exercise is prohibited by federal law as of the date of this Securit~ 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 notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any ~ remedies permitted by this Security Instrument without further notice or demand on Borrower. ~ 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of rhis Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as ~ applicable law~ may spec~fy~ for reinstatement) before saie of the Property pursuant to any power of sale con?ained in this Secunty Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borcower: (a) pay~s Lender all sums which then would be due under this Security Instrument and the Note had no acceleration ~ occurred; (b) cures any default of any other covenants or agreements; (c) pays all ex~penses incurred in enforcing this ~ Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lender's nghts in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shap remain fully effective as if no acceferation had occurred. However, this right to reinstate shall not apply in the case o~~c~els,t'~~ under p~~hs 13 or 17. ~ $onN 4 vae~ - - 3^~.~~~;." ~~s . ~ ~ ~ ,