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Home My WebLink About0992 i If Lender required mortgage insurance a5 a cond~t+on of makingihe toan secured by tMS Security Instrument, Borrower sha11 : pay the premiums required to maintain the insurance in ~.~e~ct nntil such time as the ~equuement lor the msurance terminates ~n accordance with Borrower's and lender's written aqreement or appliceWe law. A. Irap~ctbn. lender or its agent may meke reasonable entries upon and inspections af the Property. Lender shall g~ve Barower notice at the time ot or p?ior to an inspeCtion speCiying reasonable cause (or the inspeCtion. 3 Cond~mnatlon. The proceeds ot any award a claim for damages, dired or consequential, in connection wAh any ; condemnation or other taking ot any part ot the Property, or for canveyance in lieu o1 condemnation. are hereby ass+gned and shall be paid to Lender. In the event of a tota! taking of the Property. the proCeeds shall be epplied to the sums sE~cured by this Security I nstrument. whether or not ihen due, with any excess paid to Borrower. In the event oi a partial taking of the Property, unless Borrower and Lender othetwise agree in writing, the sums secured by this Securiry Instrument shall be reduced by the amourrt of the prOceeds : multiplied by the following fraction: (a) the tdal amouM ot the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediatey before the taking. Any balance shall be paid to Barower. If the Property is abandoned by Borrower, or if, after notice by Lender to 8orrower thal ihe condemnor offers to make an award or settle a claim for damages, Barower fails to respond to Lender wilhin 30 days atter ihe date the notice is g~ven, Lender is ; authoraed to collect and apply ihe proceeds, at its option, either to resloration or repair of the Property or to the sums secured by this Security tnstrument, whether or not then due. Unless lende? and 6orrower othef~vise agree in writing, any application of proceeds to p!incipal shall not extend or ~ postpone the due date of the monthly payments referred to in paragraphs 1 and 2 to change the amount of such payments. 10. BorrowK Not R~Isar~ Forbsar~na By ~snd~r No! a WairK. Extension of the time for payment or modification of amortization of the sums secured by this Securily Instrumenl granted by Lender to any successor in interest ot Borrowef shall not operate to release the tiabiliry of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against arry successor in interest a refuseto extendlimeior payment or otherwise modiiy amortization of ~ the sums secured by this Security Instrument by reason of any demand made by the oriQinal Barower or Bonower's successors in ~ interest. Any forbearance by Lender ~n exerc~sing any right or remedy shall not be a waiver of or preclude the exercise of any right or i remedy. ' 11. 8ueaason and Aul~ns Bounck Jolnt and SwKSI Llabllltr; Co-sl~nKS. The covenants and agreements of this ~ Securiry Instrument shall bind and beneiit the successors and assigns oi Lender and Borrower, subject to the provisior~s of : paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Ins!rument but does not execute the Note: (a) is co-signing this Securily Instrument ony to mortgage. grant and convey ihat ; Borrower's interesl in the Property unde~ the terms of this Security Instrument; (b) is not personaly obligated to pay the sums ~ secured by this Securiry Instrumenk and (c) agrees that Lender and any other Borrower may agree to extend, modiiy, forbear or make any accommodations with regard to the terms of this Security Instrument a the Note without that Borrower's consent. 12. Loan Char~is. If the loan secured by this Securiy Instrument is subjed to a law which sets maximum loan charges, and that law is finally interpreted so thal the interest or other loan charges coliected 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 ~ permitled limit; and (b) any sums already collected from Borrower which exceeded permitted limits w~ll be refunded to Borrower. ~ Lender may choose to make this refund by reducing the principal owed unrier the Note or by making a direct payment to Borrower. If a retund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 13. Leyislatton Atf~dln~ L~ndM's Rl~hts. If enactment or expiration of applicable laws has the efted of rendering any provision of the Note or this Security instrument unenforceable according to ~ts terms, Lender, at its option, may require immediate payment in tull 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 of paragraph 17. 14. Noticas. Arry notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it ; by first class mail unless applicable law reqwres use of another method. The notice shall be directed to the Property Address or any i j other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address ~ i stated here~n or any other address Lender designales by notice lo Borrower. Any notice provided for in this Security Instr~ment ~ shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. ~ 15. Csovarnlny Law; S~r~raWlitp. Th~s Security Instrument shall be governed by federal law and the taw of the ~ jurisd+ction in which the Property is tocated. In the event that any provision or clause of th~s Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect ~ w~thout the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. _ t' 16. Borrowee"s Copy. Borrower shal! be given one conformed copy of the Note and of this Securftv Instrument. 17. Transfer of th~ Prop~rtr or a B~n~Hdaf Intenst tn Borower. It all or any part of the Property or any iri erest m 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 As option. require immediate payment in iutl of atl sums secured by thi~ Security Ins~rument. However, this option shall not be exercised by lender rf exercise is prohi~ited by fede~al law as of the date of this 5ecurity Instrument. ; ~ If Lender exercises ihis option, Lender shall g~ve Borrower notice of acceleration. The notice shal~ provide a period of not ~ ~ less than 30 cfays from ihe date the nWice ~s delivered or mailed with+n which Borrower must pay all sums socured by this Securiiy ~ Instrument. If Borrower fails to pay these sums prior to the expiration ci t his period, Lender may invoke any remad,es permitled by ~ this Security Instrument v+nthout turther notice or demand on BoROwer. I 18. Borrow~e's RtpM to Rtlnstat~. If Borrower meets certain conditions, Barower shafl have the right to have F enforcement of ihis Security Instrumern discoMinued at any time prior tothe earlier of: ( a) 5 days (or such other period as app!ica~le ; law may specify for reinstatement) before sale o( the Property pursuant to any power of sale conta+ned in this Security Instrument; ~ or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender ali sums which ' then would be due under this Security Instrument and the Note had no acceleration occurred: (b) cures any defauft of any other ~ covenants or agreements: (c) pays atl expenses incurred in entorcing this SecurRy tnstrument, i~ctuding, but nd limited to. reasonable atlwney's fees: and (d) takes such action as Lender may reasonably require to assure that ihe lien of this Security • Instrument. Lender's rights 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 ob!igations secured hereby shall remain fulh efiective as rf no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleratbn under oaragraphs 13 or 17. ~ . . ~ aooK 506 oaGE y$6 ~ ~ . , ~..a.~.,.~~.~,._ _ , _ - _ - - _