The URL can be used to link to this page

Home My WebLink About0955 tl Lender requi!ed mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrowe~ shaN pay ih@ prem+ums required to maintain the insurance in eftect until s,uch time as the requirement for the insurance terminates in accordance with Borrower's and Lender's virritte~ agreement or applicable law. Insp~ctio~. Lender a~ its agent may make r2asociable entrieS upon a~d inspections ot the PropeM• Lender shal! give Borrower n~tice at the time of or prior to an inspection speciying reasor+able cause for the inspect9on. 9. Cond~n:nation. The proceeds of any award o~ claim for damages, direct or consequential, in connac:tion with any condemnation or other taking of any part of the Property, or for conveyance in lieu ot condemnation, are hereby assigned and shall be paid 1o Lender. I~ ths event of a total taking of the Properry, the proceeds shall be applied to the sums Secured by this Securiy Instrument~ wfiether or not then due, with any excess paid to Borrawe?. In the event of s partial taking of the Property, untess Borrower and Lender othernise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multialied by the foUowing fraction: (a) the total amount of the sums secured immediately before tt~e taking, divided by (b) the fair market valus of t~e ~roperty immediately beto~e the taking. My balance shall be paid to BorroMrer. If the Property is abandoned by ~orrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respand to lender within 30 days a(ter the date the notice is givBn, lender is authorued to c~llect and appy Ytie proceeds, at iis option, either to restoration or repair ot the Property o~ to the sams secured by this Securiy Instrument, whether or not then due. Untess Lende~ and 9o!rower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the ' due date of the rnonihl~r payments referred to in paragraphs 1 and 2 or chang~ the amount of such payments. 10. Borrower Nd Rdessed; Forbearance By Lender Not a Waiver Extension of the time fw payment or inodification of amortizatio~ of the sums secured by this Securiry Instrument granted by Lender to arry successor in interest of Borrower shali not operate to release the liabiliry of the original Borrower or Borrower's successors in interest. Lender shall not be required tc~ contmence proceedi~gs against any successor in interest ar refuse to extend time for payment or otherwise modity amortization of the sums secured by this Securiry Instrume~t by reason of any demand made by the flriginal Sorrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shatl not be a w~iwer of or predude the exercise of any right or remedy. 11• Suooss~ors and Assi~ns 8ound; Join! snd Several Li~sbiNty; C.o-si~s, The covenants and agreements of this Securiry Instrumertt shall bir~d and benefit the successors and assigns of Lender and Barrower, subject to the provisions of paragraph 17. Borrower's covEnants and agreements shall be joint and severat. My Borrower who co-~;gns this Security Instrume~t but does not execute the Note: (a) is co-signing this Secu~ity Instrument only to mortgage, grant and convey that Borrow~ePs inte~est in :he Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extena, modiry, forbear or make any accommodations with regar~ to the terms of this ~ Security Instrument or the Note without that Borrower's consent. 12. Losn Char~es. !f the toan secured by this Securiry fnsirument is subject to a law which sets maximum loar~ charges, and that law is finatiy interpreted so that the irsterest or other loan charges collected or to be collected in connection with the loan exceed the permitted limits, ihen: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the pe~mitted timit; and ~b> any sums atready collected from Borrower which exceeded permitted timits will be refunded to'So~rower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment tu Borrower. If a retund reduces principal, the reductiors wi{I be trea!ed as a partial prepayment without any prepayment charge under the Note. 13. LeQialateon Affecting Lender's Rights. If enactment or expiration of applicabie laws has th~ eNect oi rendering any provision of the Note or this Securiry I~strument unenforceable according to ifs terms, Lender, at its opdon, may requfre immadiate payment in ful! of atl sums secured by this Securiry Instrument and may invoke arry ~emedies permitted by paragraph 19. It Lender exercises this option, Lender shail take the steps specified in the second paragraph of paragraph 17. 14. Notioes. My notice to Borrow~er provided for in this Security Instrument shap be given by delivering it or by mailing it by first class rr.ail unless applicable law requires use of another method. The notice shalf be directed to the Property Address or any other address Bs~rrower designates by notice to lender. Any notice to Lencier stiall be given by first class mail to Lender'~ address stated herein or any other address Lender ~esignates by no6ce to Borrower. My notice provid~d for in this Securiry Instrument shall be deerr~ed to have bee~ given to Borrower or Lender when given as provide~ in this paragraph. 15. Goveming L.aw; Severobility. This Securiry Insirument shall G~ governed by tederal law and the law of the jurisdictio~ in which the Property is located. In the event that any provision or ctause of tt~is Security Instrument or ihe Note conflicts with applicable law, such conflict shatt r~~t affect other provisions of this Security Instrument or the Mote which can tye given effect withou! the conflicting provision. To this end the provisions of this Securiry Instre,ment and the Note are declared to be sev~erable. 16. Borrow~er'a Copy. Borrowe? shall be given one contormed copy of the Note and ot this Security Instrument. 17. Transfer of the PropeHy or a Beneficial Interest in Borrowec It all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transierred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option, require immsdiate payment in full ot all sums secured by this Security Instrument. Ho~ver, this op6on shall not be exercised by Lender if exercise is prohibited by federal law as o! the date of this Security instrument. If Lender exercises thss option, Lender shall give Borrower no4ce o( acceleration. The notice shali provide a period of not less than 30 days from the date the notice is delivered or mailed within wt~ich 8orrow~er musi pay al! s~ms secured by this Security Instrument~ If Borrower tails to pay these surt;s prior to the expiration of ihis period, Lender may invoke ary remedies permitted by this Security Instrumeni without further notice or demand on Borrower. 18. Borrow~er's Ri~t to Reinstste. tf Sorrower meets certain condit~ons, 8orrower shali have the right to have enforcement of this Security Instrument cfiscontinued at arry time prior to the earlier at: (a) 5 days (or such other period as applicable law may specity for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that BoROwer: (a) pays lender all sums which then arould be due under this Security Instrument and t~e Note had ~o acceleration occurred; (b) cures any default of any other covenants or agreeme~ts; (c) pays alt expenses incurred in enforcmg this Security Instrument, including, but not iimited to, reasonaWe attorneys' fees; and (d) takes such aclion as Lender may reasonabiy require to assure that the iien of this Security Insirument, Lende~'s rights in the Property and Borrower's obtigation to pay the sums secured by this Secur'rty tnstrument shaA continue unch2nged. Upon reinstatement by Borrower, this Security Instrument and ihe obligations secured hereby shall remain fully effective as if no acceleration had occurred. Howev~er, this right 40 rsinstate shatl r.ot apply in the cas~ of acceleratipn under paragraphs 13 or 17. ' v.y~3a~ ~~RK V0~ r:;(;~ VVZ FIOFiIOA-S~ngle Fsmily-fNhiA/FHLMC UNIFORM iNSTRUMEHT pp~ 30~p ~Z~ GF Ft50025 7~8.t , s ~ - - _ _ _ _ -