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Home My WebLink About0996 i ' . ~ ~ ` . ~ ~ . . • 5 1 !f l.ender required mortgage insurance as a condition of making the loan stcured by this Security Instrument, ~ BorroH~er shalt pay the premiums require~ to maintain the insurance in effect until such timt ~s the rcquirement Cor the ~ insurance terminates in accordance with Borrowet's and Lcnder's writien agreemen! or applicable luw. ~ 8. Ies~ection. Lensier or its agent may make reasonable entries upon and inspectioRS ~f the Property. Lender shall gire Borrower noticr at the time of or prior to an inspection specifying reasemable cause for the inspection. 9. Condemrtation. The proceeds of any award or claim for damages, direc: or consequential, in connection with any condemnation or other taking of any part ofi the Property, or for c~nveyance in lieu of condemnation, are hereby 3 assignni and shall be paid to Lender. ~ ln th: event of a total taking of the Propeny, the proceeds shali be ap~lied to the sums secured by this Security Instrument, whethec or aot shen due, with any excess paid to Borrower. In the event of a partial taking of the Property, ~ unless Borcower and Lender otherwise agcee in writing, the sums secured by this Security Instrument shall be reduced by ~ thc amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately ~ bcfore the taking, divided by (b) th~ fair market value of the Property imme~iately before tht taking. Any balance shall t+e paid to Borrowcr. ~ lf the Propeny is abandoned by Barrawer, or if, aRer notice by Lender to Borrower that the condemnor otfers to malee an award or settle a claim for damages, B~rrow~er fails to respond to Lender within 30 days after the date the notice is ~ given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums secured by th~s Security lnstrument, ~hether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shalE not extend or postpon~ the due date of the monthiy payments referred to in paragraphs 1 and 2 or change the amo~nt of such payments. 1Q. Borrov~ec Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of tne sums secured by this Security Instrumen~ granted by Lender to any successor in interest uf Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in inteeest. Lender sha!! not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherv+~ise modify amortizati~n of the sums secured by this Security Instrument by : eason of any demand made by the original Borrow~er or Borrower's successors in interest. Any forbearance by Lender in ex~rcising any right or remedy sha11 not be a waiver of or preclude the eaercise of any right or remedy. I1. Successors aad Assigns Bound; Joint and Several Liability; Casigners. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph ~ 7. Borrower's covenants and agreements shail be joint and several. A~y Borrower who co-signs this Security Instrument but does not execute the Note: (a) is casigning this Security Instrument only to mortgage, grant and convey~ that Borrower's interest in the Property under ths terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrurrzent; 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 this Security Instrument or the Note without that Bonower's consenL 12. Loan C6srges. If the loan secured by this Securit~ Instrument is subject to a law w~hich sets maximum loan charges, and that law is finally interpreied so that the interest or other ioan charges collected 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 ~educe the charge to the permitted limit; and (b) any sums already col~ected from Borrower wnich excPeded permitted limits will be refunded t~ Borrower. Lender may choose to make this refund by reducing the principai owed ~ under the Note or by making a direct payment to Borrower. If a refund re~uces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the I`Tote. 13. Legisiation Affecting Lender's Rights. If enactment or expiration of applicable laws has the effect of rendering any provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option, _ may require immediate payment in full of all surc~s secured by this Security Instrument and may invoke any remedies permitted by paragraph i 9. If Lender exercises this opt6on, Lender shall take the steps specified in the second paragraph cf paragraph 17. - 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by ~ mailing ir by first class mail unless applicable law requires use of another method. The notice shall be directed to the _ . Property Address or any other address Borrower designates by notice to L,ender. Any notice to Lender shall be given by ~ s first class mail to L,ender's address stated herein or any other address Lender designates by notice to Borrower. 4ny notice ~ ~ provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided ~ in this paragraph. ~ ~ 15. Gaverning I.aw; ~everability. This Securit}• Instrument shali be governed by federal law and the law of the ~ ~ jurisdiction in which the Property is located. In the event that any pr~vision or clause of this Security Instrument or the ~ ~ Note conflicts with applicable law, such conflict shall not afiect other provisions of this Security Instrument or the Note ~ which can be given etFect without the conflicting provision. To this end the provisions of this Security Instrument and the ~ ~ Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security tnstrument. ; ~ f 11. Transfer ot the Property or a Beneficesl Interest in Barrower. If all or any part of the Property or any ~ G• interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural ? ~4, person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums ~ secur~d by this Security Instrument. However, this option shall not be ezercised by Lendec if exercise is prohibited by ~ ; federal law as of the date of this Security Instrument. If Lender exercises this option, Lender shall give Borrower notice of ac~eleration. The notice shall pravide a period ~ a of not less than 3~ days from the date the notice is delivered or mailed within which Borrower musi pay all sums secured by ~ this Security Instrument. [f Borrower fails to pay these sums prior ro the expiration of this period, Lender may invoke any ~ remedies permitted by this Security Instrument without further noti~ce or demand on Borrower. ~ 18. Borrower's Right to Reinstate. If Bonower meets certain conditions, Borrower shall have the right to have ~ , 1 ~ enforcement ~f this Security Instrument discontinued at any time prior to the earlier of: (a) S days (or such other penod as ap~licable iaW may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this ~ ~ Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: ~ (a) pays Lendsr all sums which then would be due under this Socurity Insttum~nt and the Note had no acceLeration occurrod; (b) cures any default of any other covenanu or agreements; (c) pays all eApenses~ incutted in enforcing this ~ Secarity Xnstrument, including, but not limited to, reasonable attorneys' foa; and td) ta~kes such action as Lender may ~ reasonably require to assure that the lien of this Socurity Instrumen:, Lender's rights in the Property and Borrower's g obligation to pay the sums securEd by this Securiry Instrument shal! continue unchangod. Upon ceinstatement by ~ Borrower, this Security Instrument and the obligatians securod hereby shall remain fully tffective as if no accderation had ~ occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17. ~ ~~~~9 P,~ 9~4 . i _ _v._F . . _ ,~_~..~-..=,a _ .,...-v.-_ . _ _ s~~.~.,.~ • - _ . _ _ _ _ - ~ ~