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Home My WebLink About0961 ' ~ fP Lende~ required mortgage insur~nce as a condition of making the luan secured by this Security Inst~umen+., Borrower shai) pay tht prtmiums required to maintain the insurance in effect untii sucl~ time as the requirement for the ins~rancs term;nates in accordance with Borrawer's and Lender's w~itten agrcement or applicable law. 8. faspectloo. Lendcr or its agent r~~ay make reasonable entries upon and inspections of the Property. Lender shall give Borrowcr noticc at the time of or prior to an inspectian spccifying reas:,~~ablc cause fur the inspection. 9. Condema~tion. ~he proceeds of any award or claim for damages, direct or consequential in connxtion with any c~ndemnation ot other taking of any part ot' ehe Froperty, or for conveyance in lieu of condemn~+tion, are hertby assigncd ar~d sha11 be paid to Lender. [n the event of a total taking of the Property, the pro~eeds shall be applied to the sums sec~rtd by th~s Socurity Instrument, whether or not then due, with any axcess ~aid to Borrower. ln the event of a part~al t~king of the Prop..rly, unless Borrower ~nd Ltnder otherwise agra in writing, the sums securcd by this Srcurity lnstrument shall be rtdyced by the amount of the proceed~ multiplied by the following fraction: (a) the total amount oP the sums secured imrtt~diately before tF.e taking, divided by (b) the Pair market ~ alue of the Property immcdiately before the t~king. Any balance shali be paid to BorrQwtr. lf the Property is abandontd by Borrower, or if, after notice by Lender :o Borrawer that the condemnor ofi'ers to make an award or settle a claim ior damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authoriz~d to collect and apply the praceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or rot :hen due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not exiend ar postpone the due date of the monthly payments referred to in paragraphs 1 anc3 2 or change the amount of such payments. 10. Borrower Not Released; Forbearance By Lendcr Not a l~Vairer. Extension of' the time for payment or modification of amortization of the sums secu:ed b~~ this Security Instrument granted by Lender to any successor in interest of Borrower shall nat operate to release the liability of the original Borrower or Borrower's successors in inierest. Lender shall not be required to cemrncnce proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of tfie sums secured by this Security tnstrument by reason of any deman~ rr~ade by the original Borrower or Borrower's successors in inttrest. Any forbearance by Lender in exe~cising any right or remedy shall not be a waiver of or preclude the exercise of any right or rem~dy. il. Saccessors aed Assigas Boued; Jaint and Sereral Liability; Co-signers. The covenants and agreements af this Security Insirument shali bind and btnefit the successors and as.signs of Le~der and Borrower, subject to the provisions of paragraph 17. Borrower's covenants and agreunents shall be joint and several. Any Borrower who co-signs this Security Instrument bu1 does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrow~er's interest in the Prope~ty 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 extend, modify, forbear or make any accommodations with regard to the terms of ~his Security Instrument or the Note without that Borrower's consent. 12. Loan Ci~arges. If ihe loan secured by this Securitp Instrument is subject to a law which sets maximum loan charges, and that law is fina;ly interpreted so that the interest or other loan ch2rges colfected o: to b~ collected in connectio~ with tne foan exceed the permitted limits, then: (a) any such loan charge shali be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Sorrower which exceedcd permitted lirnits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal awed under the Note flr by making a direct payment to Borrower. If a refund reduces principal, tlie reduction witl be treated as a partial prepayment without any prepayment charge under the Note. 13. L,egislation Affecting L.ender's Rlghts. tf enactment or expiration of applicable laws has the effect of rendering any provision of the Note or this Stcurity lnstrument unenforceable according to its terms, Lender, at its option, may require immediate payment in full of all sums secured by ihis Security Instrument and may invoke any rcmedies permitted by paragraph l9. If Lender exercise this option, Lender shall take the steps specified in the second paragraph of paragraph 17. 14. Notices. Any notice to Borrower provided ior in this Security lnstrument shall b~ given by delivering it or by mailing it by first class mait unless applicable law requires use of another method. The notice shal! be directed to the ; Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be givsn by i first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any ' notice pravided fo~ in this Security Instrument shall be dcemsd to have been given to BorrowGr or Lender when given as provided in this paragraph. ~ 15. Governiog I,aw; Se~trability. This Security Insirument shall be governed by federa! law and the law of the jurisdiction in which the Property is located. ln the event chat any provision or clas~se of this Secu?ity Instrument or tha Note conflicts with applicable law, such conflict shdlt not affect other provisions of this Security Instrument or the Nott which can be given effect without thc conflicting provision. To thi~ eud the provisions of this Security [nstcument and the Note are declared to be severabie. 16. Borrower's Copp. Borrower shall be given one canformed copy oi'the Note and of this Security lnstrument. 17. TrAnsfer of the Property or a Beneficial [aterest in Borrower. If all or an~~ part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural porson) without Lender's prior writtcn consent, Lende: may, at its option, require immediate payment in full of all sums secore~ by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. If Lender exercices this option, Lender sha3! give Borrower notice of accelerauon. The r.otice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay sums secured by this Security (nstrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument ~ithout further notice er demand on Borrower. ~ 18. Borrower's Right to Reinstate. if Borrower meeis certain conditians, E3orrower shall have the right to have K enforcement of this Security Instrument discantinued at any time pr~or to the earlier of: (a) 5 days (or such other period as $ applicable law may specify for reinstatement) b~fore sale of the Property pursuant to any power of sale contained in this ~ Security instrument; or (b) entry of a judgment enforcing this ~ecurity Instrument. Those cor~ditions are that Borrower. ~ (a) pays Lender all sums which then would be due under this Security Instrument and the Note ha~ no acceleration ~ occured; (b) cures any default of any other covenants ar agreements; (c) pays all expenses incurrzd in enforcing this Security instrument, including, but not limited to, reasonable altorntys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lender's rights in the Propsrty and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borro~~er, this Security instrument and the oblei~tions secure.d re~y shall remain fully effective as if no acceleration 1e had occured. However, this right to reinstata=itfall nd~~pply`i 1he case of acceleration under paragraphs 13 or 17. aooN509 P~~ 9~,g Page 3 of 4 . ) ;s - - `a . . . . . . r _ , _ . -t-~ ~ - _ - _ _ - _ ~ t