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Home My WebLink About0977 If Lendu required mortgigc insurance u a oondition of making the loan secured by this Socurity Instrument. ; Borrower ahall pay the QmMiums requirad to maintain the insurance in dfoct until auch time ss the roquirement for the ' insurancx terminata in accortiana with Borrower's and L.ender's writtea agroement or applicable law, i Im~peetloa. Lender or ita agent may malce ra~onabk et~tries upon and inspoctiona of the Property. L,ender 3haU give Borrowpr notice st the time of or prior to aa inapection specifying reaaonabk cause for the inspection. 9. Cosadesaadoe. "1'h~ proceals of any eward or claim for damages, direct or consoquential~ in connection with any condemn~tion or other taking of any psrt of tht Property~ or for conveyance in lieu of condemnation. are hereby = assignod snd shall be paid to Lrnder. ~ In the eva~t of a total taking of the Property. the pr~ceeds sball be applied to the sums securcd by this Security ~ Iastrument. whether or not then due, with any exass paid to Borrower. In the event oC a partia! taking of the Property, ` unlesa Borrower and Lender otherwise agroe in wtiting. the sums socurod by this Socurity Instrument shall be raluced by S the amount of the procoeds multiplied by the following fraction: (a) the total amount of the sums socurod immodiately ~ ~befon the taking, divided by (b) the fair marfcet value of the Property immedistely before the taking. Any balance shall b~e ' paid to Borrower. If the Property is abandoned by Bonower, or if, sfter notice by I.ender to Borrower that t6e condemnor offers to make an awaM or aettle a cLim for dunages, Horrower fails to respond to Lender within 30 days after the date the notice is - given, Laida is authorizal to collect sad apply the prooeeds, at its option, either to restoration or npair af the Property or to the siuns socwod by this Security Instrument, whether or not then due. • Unleas Leadtr and Bomower other~viae sgree ia writing, ar~y appii~ation of pmcoods to principal shall not eatend or - postpone the du~ dat~ of the monthly payraenta referred to in paragraphs 1 and ~ or change the amount of such payments. " 10. Horrower ~Iot Rda~re~ Forbearaec~ By Leade~ Not a Wd~er. Extensioe of the time for payment or modi5cation of amortiudoa of the suma secured by this Security Instnunent grantod by Lrnder to any successor in interest of Borrower shall not operate W reteaae the liability of the original Borrower or Hormwer's successors in intuest. ~ Lender s6all aot be r+equired Eo ooramenoe pracxedinga ag,ainst any succ.essor in interest or refuse to extend time for payment or otherwise modify amoRiudon of tbe swma aecur~d by this Socurity Instrument by reason of any demand made by the original Horrowa or Borrower's suooessors in interest. My forbearance by I,ender in ~aercising any right or remady shall not be a wuver of or proelude the eacec+cise of any right or remody. il. S~r~ s~d Asd~n Boosd; Jdat a~d S~~aal I.tabillq+; Co-sigsers. The covcnsnts and agreemenis of this Security Instnunent shall bind and beae8# the sovoeasors and assigns of Les~der and Bonower, subjoct to the provisions of ~aragraph 17. Bonowet's oovensats and agraments shall be joint and several. Any Borrower who co-signs this Security Instn~ment but doos not exocute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Horrower's interest in the Ptaperty under the terms of ~his Security Instrument; (b) is not prrsonatty obligated to pay the sums socured by this Security Instrumant; attd (cj agras that I.ender and any other Bonower msy agree to eatend. modify, forbear or malce any acoommodations with regard to the tcrms of this Socurity Inswment or the Plote without that Botrower's c~nsE~t. 12. I.o~n C~arges. If the loan socured by this Sccurity Instrument is subjoct to a law which sets mauimum loan charges. and that law is 8nally interpretod so that the interest or other loan charges colloctod or to be collectod in oo~action with the loan excted the permitted limits, then: (a) any such toan charge shall be roduood by the amovnt neca4sary to reducx the charge W the permittod limit; aad (b) any sums already collected from Borrower which excecded permittod limits wiU be refunded W Borrower. I.eader may choose to make this refund by reducing the principal owed ~ undtr the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a ~ partial prepayment without any prepayment ch~rge ~nder the Note. ~ ~ 13. Leg~latioe AHecdng I.eader's RIg6b. If enactment or expiration of applicablc laws has the cffeci of ~ rendering any provision of the Note or this Security Insirumrni unenforceable according to its terms, Lender, at its option, may roquir~e immediate payment in full of all sums secwod by this Sxurity Instrument and may invoke any remedies ; permittod by paragraph l9. If Le.~?der exercises this option, Lender shall take the stegs spxifiod in the second paragraph of ~ P~B~Ph 17. ~ 14, Nodces. Any notice to Borrower providal for in this Sxurity Instntment shal! be given by ddivering ii or by ' mailing it by firsi class m~W unless appli+cabte Iaw requires use of another method. The notice shall be dirxtod to the ~ Property Address or any other address Bonowrr designates by notice to Ltc~der. Any notice to Lender shall be given by ' first class mail to I.ender's address stattd herein or any other addrass Lender designates by notict to Borrower. Any notice pmvidod for in this Secnrity Instrument shal( be deanal to have been given to Borrower or Lender when given as provided in this paragraph. IS. Co~erning I.aw; Se~a~bility. 't'his Sccurity Instrument shall be governod by federal law and the law of the jurisdiction in ahich the Property is locatod. In iht event that any provision or clause of this Security Instrumcnt or the Note conflicts with applicabk law, such con9ict shall not affect other provisions of this Security Instrument or the Note which can bo given effect without the conflicting provision. To this end the provisions of this Socurity Instrument and the Note are declarsd to be severable. 16. Borrowa's Copy. Horrower s6all be given one conformed copy of the Note and of this Security Instrument. 17. Traasfer oi t~ Pmperty or a HeaeScial Isterert ~n Borrower. IF all or any part of the Property or any interest in it is sold or tmnsfttred (or if a beneficial inttrest in Borrowtr is sold or trans!'~rred and Borrower is not a nawral person) without Lender's prior writtat~ consent, Lecsder mgy, at its option, require immediate payment in full of all sums socured by this Securiry Instrumrnt. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of th~ date of this Security Instrument. If Lrnda exerciszs this option, L.endet shall give Horrower notice of accel~ration. The notice shalt provids a period of not less tban 30 daya fro~ ihe dste the notic~ is dclivered or mailod within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the oxpiration of this period, Lender may invoke any remedies permitttd by this Sacurity Instrumtnt without further notice or demand on Borrower. 18. Bwrower's Ri~tit to Reipstate. If Borrower meets artain conditions, Borrower shall have the right io have enforcement of this Socurity Instrument discontinued at any rime prior to the earliu of: (s) 5 days {or such oth~r period as applicabk law may spocify for rtinstaiement) before sak of tht Property pursuant to any power of sale contained in this Security Instrument; or {b) entry of a judgrnait enforcing this Security Instrument. Those conditions are that Borcowcr. (a) pays L,cnder all sums which thai would be due under this Security Instrume~t and the Note had no acceleration oocunod; (b) cures any ddault of any other cavenants or agr~ements; (c) pays atl exprnses incurtod in rnforcing this Soeurity Instrument, including, but not iimited to, reasonabk attorneys' fce.c; and (d) takes such a~tion as Lender may reasonably r~quire to ~sure that the liea of this Security Instrumrnt, Lender's rights in tho Propcrty and Borrower's obligstion to pay the sums socura! by this Security Inswment shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secwed hereby shall remain fu!!y effective as if no ar,celeration had occurred. However, this right to reinstate shall not spply in the case of acceleration under paragrsphs 13 or 17. BOOK PAGE 9?~ ' . _ . . _ . - - _ m f.~:..:.~. = '~`,a~.,,,°~.~ "~y= _ _ -