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Home My WebLink About0993 tf Lender required mortgage +nsurance as a condition of making the loan secured by this Secunry Instrument, Borrower shall pay the premiut~r~s nequired to maintain the insurance in eHect u~til such time as the requirement for the insurance terminates in accordance with Borrower's and Lender's written agreement or applicaCle law. 8. liap~etio~. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Bc~rrower nottCe at the dme of o~ prior to an inspection specifying reasonaCle cause for Ihe inspection. 9. Cond~nnatlon. The proceeds of any award or claim tor damages, direct or conseQuential, in connection with any condemnation or other taking ot arry part of the Property, or tor conveyance in lieu oi Condemnation, are hereby assigned and st~aU be ¢aid to Lender. In the event of a total taking oi the Properry, the proceeds shall be applied to the sums secureQ by th~s Securiry lnsirument, whett~er o~ not then due, with any excess paid to Borrower. in ihe e+nent ot a partial Iaking of the Property, unless Bor~ower'and lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the folbwing haction: (a) the total amount of the sums secured ~mmecl~ately before the taking, divided by (b) the fa~r market va~u~ ~i the Piroperty immediatey tlefore the taking. My balance shall be paid to Borrower. 14 the Properly is ebandoned by Borrower, or if, aRer no6ce by Lender to Bo~rower that the condemnor ofters to make an avrard or ' settle a claim for damages, Borrow~er faits to respond to lender within 30 days after the date the notice is given, Lender is authorized to cdleCt and apply the ptoceeds, at its option, either to restoration or repair of the Piroperty or to the sums secured by this Security ~ Instrument, whett?er or not then due_ Unless Lerxier artd Borrow~ otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the ~~~i due date o} the mQnthly payments referred to in paragraphs 1 and 2 or change the amount ot such payments. 10• Bor*~'~ Na! Relesssd; Forbearance 6y Lender [~ot a Waivu Extension of the time for payment or modification of amortizati~ ~ of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release { the liability of the original Borrowe~ or Bor~ower's successors in interest. Lende~ shall not be required to commence proceedings against ~ arry successor in interest or refuse to e~ctend time ~or payment or otherwise modiy amortizaGon of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrow~er's successo~s +n interest. My torb2arance by ler~der in exarcising atry right or remedy shall not be a waiver of or pneClude the exercise o! any righi or remedy. 1~• Suoosssors and Assi~s ~ound: Joint and ~s1 LiabNity; C.o-sipners. The cbvenants and agreemenls of this Securiy Instrument shall bind and benefit the successors and assigns of Lende~ and Borrower, subject to ti~e provisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. My Borrawer who casigns this Securiy Instrument but does not execute the Note: (a) is co-signing this Secuiiry Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Securiry Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (cy agrees that Lender and arry other Borrower may agree to extend, modify, forbear or make any accommodaQions with regard to the terms of this Securily Instrument or the Note without that 6orrower's consent. 12 toan Chsr~es. !f the toan secured by this Security Insirument is subject to a law which sets maximum loan charges, and that faw is 6natty interpreted so that the interest or other loan charges collected or to be collscted in Connection with the loan exceed the permitted limits, then: (a) arry 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 Bo~rower. ~ende~ may choose to ~ make this refund by reducing the principal owed under the Note ar by makiny a direct payment to Borrow~er. If a refund reduces 3 princiQal, tne reduction witl be treated as a partial prepayment without arry prepayment charge under the Note. 13. le~islation Aifectin~ Lende~'s Rights. If enactment or expiration of applicable iaws has the effect oi rendering any provision of the Note o~ this Securiry Instrument unenforceabte according to its terms. Lender, at its option, may require immediate payment in full of all sums secured by this Security tnstrument and may invoke arry remedies permiited by paragraph 19. It Lendei exercises this option, Lender shall take the steps specified in the second paragraph ~f paragraph 17. 14. Motices. My notice to Borrower provicied for in this Securiry Instrument shail be given by delivering it or by mai{ing it by f~rst ~ class mail unless applicable law requires use of another method. The notice shall be directed to the Prnperly Address or any other acidress Borrower designates by noUce to Len~er. <,ny notice to Lender shall be given by first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this SecuritY Instrument st?all be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. Go~veminy l,aw; Severability. This Security Instr~ment shalt be governed by federal law and the law ot the Jurisdictior~ irs which the Property is located. In the event that any provision or Gause of ihis Security lrtstrument or the No2e con~icts with aRplicable law, such conflict sFiall not affect other provisions oi this Securiy Instrument or the Note which can be given effect without the conflicting orovision. To this end the provisions of this Securiry Instrument and the Note are declared to be severable. 18. Borro~wa~a Copy. Borrower shall be giv~n one confarmed copy of tt~e Note and oi this Security Instrument. 17• Transfar of ths P?operty or a Bene~icisl In~est in ~owef If all or arry part of the Property or any interest in it is sold or transferred (or if a beneficial i~terest in Borrower is sold or transferred and Bc,rrower is not a natural person) without Lender's prior written consent, Lender may, at its option, require immedsate payrnent in full of alt sums secured by this Security instrument. However, ' this optior, shall not be exercised by Lender if exercise is prohibited by tederat taw as of the date of this Security tnstrument ; ii Lender exercises this opGon, Lender shati give Borrow~er notice of acceferation. The notice sha!! provide a~riod of not less than 3~? days from the date the notice is delivered or mailed within which Borrower must pay all svms secured by this Securiry Instrument. If Borrower fails to pay these sums prior to the expiraGon of this period, Lender may invoke arry remedies permitted by this Security Instrument without further notice or demand on Borrower. 1$. Bonvwers RqM to Reinstate. tf Q~irrower meets certain condiGons, Borrower shall have the r~yht to have eniorcement of this Security tnstrument disconGnued at arty time prior to the eartier of: (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to arry pow~r of sale contained in this Security lnstrument; or (b) entry of a judgment enforcing this Security I~strument. Those conditions are that Banower. (a) pZys Lender all sums whic'r? tF~en w~ould be due under ihis Security Instrument and the Note had no acceieration occurred: (b) cures arry default of arry other cavenants or agreements; (c1 pays all expenses incurreci in enforcing this Security Instrument, inGuding, but not limited to, reasonabie atiorneys' tees; arid (d) takes such action ` as lender may reasonably require !o assure ttiat the lien of ihis Securiiy Instrument, Lender s rights in the Propert~ and Borrowers ~ obliyation to pay the sums sec~red by this Security Instrument shall cantinue unchanged. U~on reinstatement by 8orrower, this Security ~ lnstrument and ihe obligations sec~red hereby shall remain fully effective as if no accelerati~n had occurrec. However, this right to ~ reinstate shall not appiy in the case of acceleration under paragraphs 13 or 17. ~ . aoRK 503 ~~z FLORI6A-S(nqN Family-fNitA/FHLMC UNIFORM iNSTRUMENT Form 3010 /2/83 OF F1S002S 7/E~ _ _ . ; „ _ - - . , .~x < . _ _ _ _.t:~_~,r. - . _ -