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Home My WebLink About0927 ' . ~ [f Lender required murtgage insurancc as a condition ot' making the loan sccured by this Security Instrument. 6urraw•er shall pay the premiums required to maintain the insurance in efttct until such time as the requirement fur the insurante terminates in accordaner with Bo~rower's and Lender's written agrc~ment or applieable law. 8. lnspectio~, l.ender ur its agent may make reasonable entries upon and inspcctions of the Property. I.ender shall gi~e Borrov?~er notice at the tim~ of or prior to an inspection specifying rcasonable cause for the inspection. 9. Condemnation. The proceecis oFany award or claim fo: damages, direct ur consequential, in cbnnection with any condemnation or othz: taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In the event of a total taking of the P~operty, the proceeds shalt be applied to the sums socurcd by this Security Instrument, whether or not then due, with any exctss paid to Borrower, ln the event of a partia) taking of the Property, unless Borrow•er and Lender otherwise agree in writing. the sums secured by this Security Instcument shall be reduced tsy , the amount of the proceeds multiplied by the following Craction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market value of tht Prope~Yy immediately before the tdking. Any bf,lance sh~tl be paid to Borrower. lf the ProFert~ is abandoned by Borrower, or if, after notice by Ixnder to Borrower ihat the condemnor offers to make an award or seitle a claim far damages. Borrawer fails to respond to Lender within 30 days after the date the notice is given, Lender is anthorized io collect and apFly 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 then due. Unless Lender and Bocrower otherwise agree in writing, any appiication otproceeds to principal shall not eztend or postpone the due date of the monthly payments referred to in paragrapi~3 i ar~~ 2 or change the amount of such payments. 10. Borrower Not Releascd; Forbe~rance By I.ender Not a Waiver. Extension of the time for payment or f modification of amortization of the sums secured by this Security lnstrument granted by Lender to any successor in ~ interest of Borrow•er shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherw•ise modify amortization of the sums secured by this Security Instrument by reason of any demand made - by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in eaercising any right or remedy shali not be a waiver of or preclude the exercise of any right or remedy. _ ll. Successors and Assigas Bound; Joint and Se~eral Liabillty; Casigaers. The covenants and agreements oF this S2curity Instrument shaU bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. $orrower's covenants and agreements shall be joint and several. Any Borrower who casigns this Security lnstrument but does not execute the Note: (a) is co-signi~ig this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property 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 L.ender and any other Borrower may agree to extend, malify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note wi:hout that Barrower's consent. 12, Loan Charges, lf the loan secured by this Security Instrument is subjec[ to a law which sets maaimum loan charges, and that law is finaliy interpreted so that the interest or other loan charges collected or to be coilected in - connection with the loan exceed the permitted limits, then: (a) any suci~ loan charge shall be reduced by the amount nece~sary to reduce the charge to the permitted limit; and (b) any sums alread~ coltected trom Borrower K•hich exceeded permitted limits will be refunded to t3orrower. Lertder may choose 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 reduction w•il! be treated as a partia! prepayment without aay ~repayment charge under the Note. 13. I,egislation Affeeting Lender's Rights. If enactment or expiration of applicable laws has the effect of rendering any provision of the Note or this Security lnstrument unenforceable according to its t~rms. Lender, at its option, may rec{uire immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies permitted by paragraph 19. If Lender ezercises this option, Lender shall take the steps spe:ified in the second paragraph of paragraph i 7. : 14. \otices. Any notice to Borrower provided for in this Securit}• Instrument shall be given by delivering it or by ' mailing it by fint class mail unless applicable law requires use of another method. The notice shal! be directed to the I Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class maif to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice . ~ ~ro~~ided for in this Security Instrurtient shall be deemed to have been given to Borrower or I.ender when given as provided i in this paragraph. i 15. Governing I,aw; Severability. This Securit}• Instrument shall be governed by federal law and the law of the f jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the j Note conflicts with applicable law, such conftict shall not affect other provisions of this Security Instrument or the 1~'ote _ 6 Which can be given eH'ect without the conflicting provision. To this end the provisions of this Security Instrument and the i Note are declared to be severable. G 16. $orrower's Copy. Borrower shall be given one conformed copy of the Note and of this See:urity Instrument. ~ 17. Transfer of the Property or a Beneficial ~nterest in Borrower. It all or an}• part of tt~e Properiy or any interest in it is sold ~r transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural ~ persor~) w~ithout Lender's prior wrtten conseni, Lender may, at its ontion, require immediate pa}~ment in full of all sums secured b}' this Security Instr~ment. However, this option shall not be exercised b}• Lender if exercise is prohib~ted by ~ fed~ral law as of the date of this Security Instrument. If LPnder exe~cises this optien, I.ender shali give Borrower notice of acceleration. The n~t~ce shall pro~ide a period ~ of ~ot less than 30 days from the date the notice is delivered ~r maited within which Borrow~er must pay all sums secured by ~ this Security Instrument. If Borrower fails to pay these sums prior to the zxpiration of this period. Lender may in~~oke any remedies per:nitted by this Serurity Insirument without f~rth~r notice or demand ~n Borrow•er. ~ l8. Borror~er's Right to Reinstate. If Borrower meets certain conditions, Borrower snall have the right ta have ~ enforcemen; of this Security Instrument discontinued at any time prior to the earlier of: (aj S da}•s (or such other pe7od as applicable law- ma}• specify for reinstatement) before saie of the Proper*.y pursuant to any power of sale:ontained in this ~ Security Instn~ment; or fb} entry of a judgment enforcing this Security Instrurne~t. Those conditiorec are that I3orrower: (a) pays Lender ai! sums which t~e~ woul~ be due under this Security Instrument and the Note had no acceleration necurred; fb) cures any default of any other covenants or agreements; (c) pays all ezpenses incurred in enforcing tiiis Security Inttrument. ~ncludinn, but not limited to, teasanable attorneys' fees; and (d) takes such action as l.ender may j reationably reyuire to as~ure that the !iPn of this Security (nstrument, Lender's nghts in the Property and Bor.ower's ~ obtiga~ion to pay- the sums secured by this Secunty Instrument shall ec,ntinue unchanged. Upon re~nstatement by ~ Borrov?er, thit Security~ Instrument artd the obligetions secured hereby shall remain ful:y efiective as if nu acceleration had cx:curred. Hou~e~~er, this right to reinstzte shal} not a~ply in the cax ~f acceieratic~n under paragra~hs 13 or 17. ~ eooK511 ~cE 926 ~ _ _ _ _ -