The URL can be used to link to this page

Home My WebLink About0953 `a t ~ C If L~nder required mongage insurance as a conditian o[ making the laan securcd by this Security lnstrument, ; Borrower shall pay the premiums required to maintain tht insurance in effect until suc6 time as the requiremcnt for the ~ insurance tenninates in accordance with Borrowet's and Lender's writte~ agreement ar applicable law. , 8. Ia~spection, Lender or its agent may make reawn8ble entries upon and inspections of the Property. Lender shall give Burrower notice at tht time of or prior to an inspection sp~cifying reasonabie cause t~r the inspection. ; 4, Condemnation. ?he proc~eeds af any award or claim for damages, direct or conseyuential, in connection w•ith any condemnation or other taking of any part of the Prop~ety, or :or convey~nce in lieu of condemnation, are hereby ; assigned and shal! be paid t~ L.ender. i In the event of a total taking of the Propeety, the praceeds sha!! be applied ta the sums securcd by this Security ~ Instrument, whether or not thc~ due, with any exctss paid to Borrower. In the event of a partial taking of the Property, unless Borrower aad Lender otherwist agree in writing, th~ sums secured by this S~urity Instrument shall be reduced by the amount of the proceeds multiplitd by the following fraction: (a) the total amount of the sums secured irremediately before the taking, divided by (b) the fair market value af the Pronerty immrdiatety before the taking. Any batance shal! be paid to Sorrower. If the Pr~perty is abandonod by B~nower, or if, after notice by Lender to Borrower that the condemnor offers to ~ make an award or settle a claim far damages, Bonovver fails to respond to L.ender within 30 days after the date the notice is given. L.tndtr is authorizod to coilect and appfy the proceeds, at its option, either to ratoration or repair of tt~e Property or to the sums secured by this Security Instrument, whether or not then due. Unless Lendtr and 8orro~ver othetwise agree in writing, any spplication of proceeds to principal shall not extend or postpone the ~ue date of the monthly paymrnts rtfened to in paragraQhs 1 and 2 or change the amour~t of such payments. 10. Bonowtr Not Released; Forbarance By Leader Not a Waieer. Eatensifln of the time for payment or modification of amartization of the sums socured by this Security Instrument granted by Lender to any successor in interest of Borcower shall not operate to release the liabiiity of the original Borrower or 8orrower's successors in interest. Lender shall not be required to commence proceedings againsi any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sum~ secured by this Security Instrument by reason of any demand made by tht original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 11. Successors aad Assigns Bound; Joint and Se.eral Ldabit~ty; Co-signers. The covenants aad agraements oi this Security Instrument shali bind a~d benefit the success~rs and assigns of Lender and Borrowrr, subject to the provisions of paragraph 17. Bonowtr's covenants and agreemenis shall be joint and several. An}~ Borcower who co-signs this Security Instrument but dces not execute the Note: (a) is co-signing xhis Sccurity Instrument only i~ mongage, grant and convey that Borrower's interest in the Property under the terms of this Socurity Instrument; (b) is not personally obligated to pay the sums securcd by this Security Instrument; a,~d (c) agr~ts that Lender and an~+ other Borrower may agrce to easend, malify. forbear or maice any accommodations with regard to the terms ot' this Security Instrummt or the Note without that Borrower's consent. 12. Loan Charges, If the loan secured by this Se~:urity Instrument is subject to a law which sets maximum loan charges, and that law is finally intetpreta! so that the interest or other loan charges collected or to be collected in connection with the loan exceed the permitted limits, thcn: (a) any such loan charge shall be recfuced by the amount necessary to reduce the charge to the permitted limir, and (b) any sums already collocted from Honower which eaceeded permittod limits wiil be refundod to Bonower. LeRder may choase 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 roduction will be treated as a partial prepayment without any prepaymtnt charge under the Note. 13. LeglsLation ANecting I.ender'a Rights, lf enactment or expiration of applicable laws has the eflect oC rendering any provision of the Note or this Security Instrument unenforceable according to its t~rms, Lender. at its option, may require immediate aayment in full of ali sums secured by this Security Instrument an~ may invoke any remedies permitted by paragraph 19.1f Lender exercises this option, Lender shall take the steps specified in the second paragraph of paragraph 17. 14. Notices. Any notice to Borcower provided for in this Security Instrument shall be given by delivering it or by mailing ii by first class mail unless applicable [aw requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by noticr to Lender. Any notice to I.ender shall be given by first class mail to Lender's address stattd herein or any other address Lender designates by notice to Borrower. Any notice ~ provided for in this Security Instrument shall be deemed to have bxn given to Borrower or Lender when given as provided in this paragraph. j 15. Goveraing Law; Se~erahility. This Security Instrument shall be governed by fe~eral taw and the 1aw of the ~ jurisdiction in which the Property is located. In the event that any pravision or clause of this Security Instrumeni or the Note con@icts with applicable law, such conflict shall not affxt other provisions of this Security Instrument or the Note which can be givrn effect without the conflicting provision. To this end the provisions of this Sccurity Instr~ament and the ' Note are declared to be severable. 16. BorroNer's Copy. Borrower shall be given one conformod copy of the Nate and of this Security Instrument. 17. Tro~asfer of t6e Pro~erty or a BeaeRcia! Interest in Borrawer. If a!! or any part of the Property or any interest in it is sold or transferrod (or if a ber?eficial interest in 8orrower is sold or transferred and Borrower is not a natural ;t.~5 person) without Lender's prior written conxnt, Lender may, at its option, rcquire immodiate payment in full of all sums ~ secured by this Security Instrumrnt. H~wever, this option shall not be exerciscd by I.ender if eaercise is prohibitod by C federal iaw as oi the date of this Socurity Instrument. If Lender txercises this option, Lendtr shall give Borrower notice of accxlerat~on. "t~e notice shalt provide a period • of not {ess than 30 days from the date the notice is deliverod or mailod withir~ which Borrowtr must pay all sums securcd by this Security Instrumtnt. If Borrower fails to pay thsse sums prior to the expiration of this period, Lender may invoke any rtmedies per.mitted by this Socurity Instrumrnt wiihout further notice or demand on Borrower. 18. Borrawer': Rlght to Re[nstate. If Borrower meats certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior w the earGu of: (a) S days (or such other period as applicable !aw may specify for reinstatement) before ssle of tbe Property pursuant to any power of salo contained in this Security Instrument; or (b) entry of a judgmrnt enforcing this Security lnstrument. Those conditions are that Borrower: (a) pays Lender all sums which thrn wovld be due under this Security Instrument and th~ Nate had no acceleration occunai; (b) cures any default of any other covenants or agramrnt~; (c) pays all expenses incurrod in enforcing this Security Instrument, including, but not limited to, rsasonabk attorntys' foes; and (d) takes such acticm as Lender may rcasonably roquire to assure that the tien of this Security Instrunsent~ Lender's rights in the Propcrty uicl Horrowa's obtigation to pay the sums secured by this Sxurity Instruma?t ahall continue ~ncbangcd. Upon retnstatement by Dorrowcr, this Security Instrument and tbe obligationa secured hereby shall remain fully elfxtive as if no acceler~tion had oc+curnd. However. this right to reinatate shsll not apply in the c:ase oE'accekratean under paragraphs 13 or 17 ~oaK 509 ~~E 951 - _r~~ - - . _ _ .w.___ . _ .r.;:_ _ _ ~ . ,=:~~~>~-v - ~ - . _ _ . . _ _ . ~