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Home My WebLink About0999 O W V V~~~~ ~ . ~ lf Lender required mortgagc insurance as a candition of making the loan secured by this Security Instrument~ Borrower shall pay the premiums requireci to maintain the insurance in effect untit such time as the requircment for the insurance terminates in accordance with Eiorrower's and Lender's written agreement or applicable law. 8. Inspectioa. Lender or its agent may make reasonable entries up~n and inspections oi the Property. Lender shall give Borrower notice at the time of or priar to an inspection specifying reasonable cause for the inspection. 9. Condemnation. The proceeds oi any award or claim for damages, direct or consequentiai, in connection with any condemnation or ather taking of any part oC the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In the event of a totat taking of the P.roperty, ihe proceeds shaq be applied to the sums secured by this Security Instrumeni. whtther or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender othenvise agree in writing, the sums secured by this Sec~rity Instrument shatt be reduced by ~ the amount of the proeeeds multiplieci by the following fraction: (a) the total amount of the sunis secured immtdiately before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower. , If the Property is abandon tl by Borrower, or if, after notice by I_ender to f3orrow~er that the condemnor offers to t make an award or settle a claim for damages, Borrower fails to respond to Lender w•ith~n 30 days after the date the notice is given, Lender is suthorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not thert due. Unless Lender and Borrower othenvise agree in writing, any application of proceeds to principal shall not eztend or ' postpone the due date of the monthly paymrnts referred to in paragraphs 1 and 2 or change the amount of such payments. l0. Borrower Not Released; Forbearance By L.ender Not a V1'aiver. Eatension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Bonower shall not operate to release the liability of the originai Borrower or Borrower's successors in inter~st. • L.ender shall not be required to commence proceedings against any successor in interest or refuse to extend time for ` payment or otherwise modify amortization of the sums set:ured by this Security Instrument by reason of any demand made by ihe original Borrow•er or Borro~~er's successors in interest. Any forbearance b}• Lender in exercising arey right or remedy shall not be a waiver of or preclude the exercise of an~~ right or remedv- 11, Successors and Assigns Bound; Joint and Severst Liability; Co-signers. The covenants and agreements of ~ this Security Instrument shatl bind and brnefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Borro~~~er's covenants and agreements shall be joint and se~~eral. An~• Borrower who casigns this Security Instrument but does 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 lnstrument; (b) is not personally obligated to pay the sums se~:ured bp this Security Instr~sment; and (c) agrees that Lertder and an~• other Borrower may agree to extend, modify, forbear or make any accommodations w•ith regard to the terms of this Security Instrument or the Note without , that 8orrower's consent. 12. Loan Charges. If the loan secured by~ this Securit}~ Instrument is subject to a law~ which sets maximum loan charges, and that law is hnally inter~reted so that the interest or other loan charges collected or to be collected in connection with the loan exceed the permitted limits, then: (a) an}• such iaan charge shall be reduced by the amount necessary to reduce the charge to the permitted timit; and (b? an}~ sumc already~ collected from Borrower which exceeded permitted limits a•ill be refunded to Borrow•er. Lencier may chcrose to make this refu~d by reducing the principal owed under the Note or by making a direet payment to Borrower. If a refund reduc~ principal, the reduction will be treated as a partial prepayment w~ithout an~~ prepayment charge under the Note. 13. Legislation Afferting I.ender's Rights. If enactment or expirat~on of applicable lau•s has the effect of rendering any pro~~ision of the Note or this Se~urit}~ Instrument unenforceahle arcording to its terms, Lender, ai its option, may require immediate payment in full of ali sLmti seci~red hy this Securit} Instrument and may invoke any remedies permiited by paragraph 19. If Lender cxercises this option. Lender shall take the step5 specifie~ in the second para~raph of paragraph 17. 14. \otices. An}~ notice ta Borr~w e~ ~rcn ided tor in thi~ Securit}• Instrument shati be givert by deaivering it or by mailing it by first rlass mail unle~s apnli~able Iaµ• reyuire~ use af an~ther meth<~d. The notice s~all be directed to the Property Address or an~~ ~ther address f3orrou~er desigr,ates b~~ notice to Lender. Any~ notice to Lender shali be given by ~ first class mai! ro Lender's address stated h~rein or any oeher addres~ L~s~der designatc~ by~ notice tu Borrower. Any notiee provided for in this Security~ Instrument ~hali he deemed to ha~ e l~een ei~~cr~ to Bormwer or Lender when given as provided in this paragraph_ - I5. Governing LaK; Severabilit~•. This Securit~~ Instrument ~hall he gc~~erned h}~ federal law~ and the law of the jurisdiction in which the Property is located. In thr eti•ent that an}• provision or clause of thi~ Security lnstrument or the Noie conflicts with applicable ]aw•, such ronflict shall not affect other ~ro~~i;ions of this Security Instrument or the Note which can be gi~~en effect without the confl~r?in~ pro~is?cm. To this end the pro~isie~ns of this Security Instrument and the = Note are declaFed to be severable. 16. Botrower's Copy. Rorrow~er ~hall be ei~~en one conformed copy~ ~F the Note and of this Seeurity Instrument. ~ ' 17. Transfer of the Propert}• or a Beneficial Interest in Borrower. I( aU ~~r any part of the Property or any interest in it is sold cx transferred (cu if a benefirial interest in Borr~w~er iti sold or transferred and Borrower is not a natural person) witb,~ut I.endei s~rior written consent. Lender ma~, at its c~~?tion, reyuire immediate pa}'ment in full of aII sums seeu~reci by th~s Security Instrument. Howe~er, thi~ o~tic~n ~hail ne~r be erercitied h~~ I,ender if exercise is prohibited by federal iaw as di the date of this Security Instrument. If i,ender exercises this opt~on, Lender shall gi~~e Borrou•er noiice of acceleration. The notice shall provide a period of rrat.less than 30 days from the date the notice is delivered or mailed w ithin w~hich Borro~er must pay all sums secured by this Security Instrument. If $orrower fails to pa}~ these sums prior to thc expiration of this period, Lender may invoke any remedies permitted by this Securit} Instrument w•ithout further notice or demand on B~rrow~er: ~ 18. Borror~er'S Right to Reinstate. If $orrow~er meets certain conditions, Borrow•er Shali?~ave t~te right to have enforcement af this Security In"strument discontinued at any time prior to the e~rlier nf: (a j 5 days (or such other ~riod as applicabte law may specify for reinstatement) before sale of the Yroperty~ pursuanj•to anypower of sale contained in this Security Instrument; or,(b) entry~ of a judgment enforcing this Security Instrument. ~Those conditions are that Borrow~e~: (a) pays Lender ali sums whi~h then would be due under this Security Instrument 'a~d the Note had no acceferatian occurred; (b) cures ~ny default of any other covenants or agreements; (c) pays all eXpenses idcurred in enforcing this Security Instrument, includir~g, but not limited to, reasoqabte~ttqrney~s' fees; and (d) takes such action as Lender may rea.sonabty require t~ assure that the lien; of thic Security I{~s;Yulnent. Lender's rights in the Property and Borrower's obtigation to pa~~ the sums secured b}~ t~is~ Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Securit~ Instrument and the ubligations secured hereby shall remain fully effective as if no acceleration had occurred. Howe~er, this right to reinstate shall nc~t apply in the case of acceleration under paragraphs l3 or 17. 44853 7~85 gooK 507 PacE. ~997 _ _ ~ r. _ . _