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Home My WebLink About0922 ~ t : • • ~ ~ i ~ ~ If Lender required mortgage i~surance as a condition of making the loan secured by ihis Security Instrumenk~ ~ Borrower shall pay the pren~iums reyuired to maintain the insurance in effect untii such time as the requirement for the ~ insurance terminates in accordance with Borrawer's and Lender's written agreernent or applicable law. ~ 8. Inspection. I,ender or its agent may make reasonable entries upon and ins~ections of the Properly. L.ender ~ shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 9. Condemnation. The proceeds of any award oe claim for damages, ciirect or consequential, in connection with ~ any condemnation or other taking of any part of the Property, or for conveyance in tieu of condemnation, are hereby assigned and shall be paid to Lender. ~ In the event of a total taking o!' the Property, ihe procee~fs shall be applied to the sums secured by this S~curity Instrument, whether or not then due, with any excess paid to Borrower. In the event of a panial taking of the Property, ~ unless Borrower and Lender otherwise agree in writing, the sums secured by this 5eeurity Instniment shall be reduced by the amount of the prceeeds muitiplied by the following fraction: (a) the totai amount of the sums secured immediately bcfore the taking, divided by (b) the fair mar3cet value of the Property immediately before ihe taking. Any balance shall be paid to Borrower. ~ ~ 1f the Property is abandoned by Borrower, or if, after notice by Y.ender to Bonower that the condemnor of~ers to ~ make an award or settle a claim for damages, Borrower 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 this Security Instrument, wt~ether or not then due. ~ Unless Lender and Borrower otherwisc agrec in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments rePened to in paragraphs 1 and 2 or change the amount of such payments. ~ 10. Borrower Not Released; Forbearance By II.ender Not a Waiver. Extension of the time for payment or ~ modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shalt not operate to reteass the liability of the original Borrawer or Borrower's successors in interesi. Lender shal! noi be required to commence proceedings against~any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made ~ by the original Borrower or Boreower's successors ire interest. Any forbearance by Lender in exercising any right or remedy ~ shall not be a waiv~r of or preclude the exercise of any right or remedy. ~ ~ I1. Successors and Assigns Bound; Jotnt and Severgl Lseb3llty; Co-sIgaers. The covenants and agreements of ~ this Security Instrument shalt bind and benefit the successors and assigns of Lencier and Borrawer, subject to the pravisions of paragraph 17. Borrower's covenants and agreemer.ts shall be joint and several. Any Horrower who co-signs this Security ' Instrument but does nat eaecute the Note: (a) is co-signing this Security Instrument oniy to mortgage, grant and convey ' that ~orrower's interest in the Property under the terms of this Security Instrument; (b} is nof personatly obligated to pay Y the sums secured by this Security Instrument; and (c) agrees that Lender and any oiher Borrower may agree to extend, modify, forbear or make any accommoclntions v~ith regard to the terms of this Security Instrument or the Plote without that Borrower's consent. 12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which s~ts maximum loan charges, and that law is finally interpreted so that the interest or other ban charges collected or to be collected in - connection with the loan exceed the permitted timits, then: (a) any 5uch ~can charge shal! be reduced by the amount necessary to reduce the charge to the perrnitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refundeci to ilorrower. Lender 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 will be treated as a partial prepayment without any prepayment charge under the Note. ~3. Legislation AfTectIng Lender's Rights, If enactment or expiration of applicable laws has the effect of rendering any provision af the Note or this Security Instrument unenforceable accnrding to its terms, Lender, at its option, ~ may require immediate payment in full of all sums secured by this Security In~rument and may invoke any remedies permitted by paragraph 19. If Lender exercises this option, I.ender shal~ take the steps specified in tt?e second paragraph of paragraph 17. 14. Notic~s. Any notice to Borrower provided far in this Security Instrum~t shall be given by delivering it or by maiiing it by first class mai! anless 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 Lender. Any notice to I,ender shall be given by first class mail ta Lender's address stated herein or any other address Lender designatesby notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borroweror Lender when given as provided in this paragraph. 15. Goveening Law; Severability. This Security Instrument shall be governed ~y federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or elause ofthis Security Instrument or the Note con8icts with applicable law, such conflict shall not affect other provisions of this Stcurity Instrument or the Note which can be given effect without the conflicting peovision. To this end the provisions of tHs Sr,~urity Instrument and the Note are deciared to be severabie. 16. Borrower's Copy, Borrower shall be given one conformed copy of the Note ani of this Security Instrument. I7. Transfer of the Property or a BeneRciat ~nterest in Borrower. If ali or any part of the Pro~.+erty or any interest in it is sold or transferred (or if a beneflcial interest in Borrower is sold or transferred ~nd Borrower is not a natural person) without I.ender's prior written consent, I.ender may, at its option, require immediat`~ payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lende~if exercise is prohibited by federal iaw as of the date of this Security Instrument. " If Lender exercises this optian, Lender shall give ~3orrower notice of acceleration. The ~totice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower rt~st pay all sums secured by ~ this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this peri~i, Lender may invoke any remedies permitted by this Security Instrument without further notice ordemand on Borrower. I~3. Borrower's Right to Reinstate. If Bor;ower meets cer;airt conditions, B~rrower s 11. have the right to have ~ enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 da (or such other period as ~ anplicable law may specify for reinstatement} before sale of the Property pursuant to any powe f sale contained in this ~ Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those condi'ons are that Borrower: (a) pays Lender all sums which then wou(d be due under this Security Instrument and the N e had no acceleration occurred; (b) cures any default of any other covenants or agreements; (c) pays a!! expenses inc rred in enforcing this Security Instrurnent, ineluding, but noi limited to, reas~nable attorneys' fees; and (d) takes such etion as Lender may F f reasonably reyuire to assure that the lien of this Security Instrument, Lender's rights in the Pr rty and Borrower's t. ~P obligation to pay the sums secured by this Security Instrument shall continue unchanged. U n reinstatement by ~ s Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as no acceleration had ! occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraphs 3 or 17. ~ A s°aoK ~.t~ P~cE 9~