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Home My WebLink About0959 . ' j ' ~ ~ ~ , ? ~ ~ . • ~ . • . If Lender required mortgage ~nsur~nce as a condition of makiqg the loan ~ecured by Ihis Security Instrument. 8orrower shall pay Ihe premiums required to maintain thQ insurance in etlecl until such lime as ihe requirement for lhe inswancQ terminales in accordance with Borrower's and Lender's written agreement or appiicable law. 8, Inapttctlon. Lender or its ageni may make reasonable entries upon an~inspections of lhe Properly. Lender shaN give 8orrower noticQ al Ihe time ot or prior to an inspection specifying reasonable cause (or the inspection. 9. Gondemnat(on. ThQ proceeds ot any award or claim tor damages, dir~;ct or conse~q enti~l; i~ connection wilh any condemnatian or other taking o( any part of thQ Property, or tor conveyance in tieu of CQRdemriation~re he'reby assig~ed and shall be paid to Lender. !n the evenl ot a total taking ot the Property, the proceeds sl~all be applied to Ihe sums secured by this Security Instrumenl, whether or not then due, with any excess paid to Borrower. In the event o( a partial taking ot the ~rop~riy; untess Borrpwer and Lender otherwisQ ag~ee in wriling, lhe ~ums secured by this Security tnstrument shall ba reduced by Ihe amount ot tho pcoceeds multiplied by the toAowing fraction: (a) Ihe total amount of the sums secured immediately betore the taking, divided by (b) the fa+r marke! value of the Property immediately be(ore the taking. Any balance shall be paid to Borrower. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a clairn tor damages, 6orrower taiis lo respond to Lender within 30 days aiter !he date the notice is given, lender is authorized to collect and apply Ihe proceeds, at its option, either to restoration or repair of the Properly or to the sums secured by this Securily Instrument, whether or ~not then due. Unless Lender and Barrower oiherwise agree in writing, any application of pr4ceeds to princip~! shall not exler~d or postpone the due date oi the monthly payments referred to in paragraphs 1 and 2 to change the amount of such payments. 10. 8orrower Not Released; Fot6ea~ance By Lender Not a Watver. Extension of the time for payment or modificalion ot amoriization of ihe sums secured by this Securitylnslrument granled by Lender to any successcx in interesl ot Borrower shaU no! i operate to release the iiability of the original Barower or Borrower's successo~s in in±erest. Lender shaU not be required to i f commence proceedings against any successor in interest or retuse to extendtifne for payment or otherwise modify amortization of ~ the sums secured by this SQCUrity Inslrument by reason of any demandmadeby theoriginal Borrower or Borrower's successors in ~ interest. Any lorbearance by Lender in exercising any righi or remedy shall nol be a waiver of or preclude the exercise oi any ~ight a remedy. ~ 1i. Suceessors snd Asslgns ~ound; Jolnt and Several Llablllty; Co-slgners. The covenants and agreements of this ~ Securiry Instrumenl shall bind and benefit the successors and assigns of lender and Borrower, subject to the provisi~ns ot paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrawer xho co-signs lhis Security Ir?strument but does not execute the Note: (a) is co-signing this Security tnstrument ort~y to matgage. grant and convey that ~ Borrower's +nterest in the Property under the terms of this Security Instrument; (b) is r~oi personalh~ obligated to pay the sums secured by lhis Security Instrument; and (c) agrees that lender and any olher Borrower may agree to extend, modify, torbear or make any accommodations with regard to the ierms o( this Security Instrurnent or the Note without thal 8orrower's consenl. 12. Loan Charges. If the loan secured by this Security Instrum~nt is subject to a taw which sets maximum loan charges, and that law is tinally interpreted so Ihat the interest or other toan charges collected or !o be collected in connection with the loan exceed the permitted limits, then; (a) any such toan charge shaN be reduced by ihe amount necessary to reduce the charge tothe permitled limit; and (b) any sums atready collecled from Borrower which e~cceeded permitted limits w+ll be reiunded to Borrower. Lender may ~hoose to make this refund by reducingths principal owed under ihe Note or by making a direct payment to Borrower. It a refund reduces principa~, the reriuction will be treated as a partial prepayment without any prepaymen[ charge under the Note. 13. L+eglsletlon Af ieciing Leryder's Rtghts. I f enaciment or expiration of applicable laws has ihe effect ot rendering any provision ol the Note or this Security Insirument unenforceable according to its terms, Lender, at its opiion, may require immediate payment in fult oi all sums secured by this Security tnstrument and may i~voke any remediss permilled by paragraph 19. I( Lender exercises this oplion, Lender shall take the sleps specified in the second paragraph of paragraph 17. 14. Notlces. Any notice to Borrower previded for in this Securiiy tnstrument shall be given by delivering it or by maiting it by tirst class mail untess appticabte law requires use of anQiher method. The notice sF?all be directed to the Property Address or any other address Borrower designates by notice to Lender. Any noiice to Lender shaN be given by first class mail to Lender's address slated herein or any other address Lender designates by notice to Borrower. Any nolice provided for in Ihis Security instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. Gov~rning Law; Severabitlty. This Security Inslrument shall be governeci by federal taw and the law of the jurisdiction in which the Properiy is located. !n the event that any provision or clause of th~s Sec~r+ty Instrument or the Note coni~icls wilh appticable law, such contlict shall not af(ect other provisions of this Security Instrument or the Note which can begiven effect ~viihout ihe conflicting provision. 7o this end the provisions of ihis Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shatl be givsn one contormed copy of the iVote and o( this Security lnstrument. 17. Tranater ot the Property or a 8eneflclal (nterest in Bor4wer. tf aN or any part oi the Properly or any interest in it is sotd or transferred (or if a t~eneficial interest in Borrower is sold or transferred and Sorrower is not a natural person) vrithout Lender's prior wriilen cansent, Lpnder may. at its option. require immediate payment in full of all sums secured by this Security Insirument. - However, Ihis option shall nof be exercised by Lender if exercise is prohibited by (ederal law as of the date of lhis Security Instrument. It lender exerc+ses this option, Lender shall give Borrower notice of acceleralion. The notice shall provide a period of not tess than 30 days from !hs date the notice is delivesed or mailed within «hich Borroµ~er must pay all sums secured by this Security lnstrument. If Borr4wer fai(s to pay these sums prior to the expiration of this period, Lender may invoke any remedies peimitted by this Securiiy tnstrument without further notice or demand on Borrower. 18. Borr~wer's Hlght to Rslnstate. If Borrower meets certain conditions, Borrower shall have the right to have Enforeement ol this Security Inslrumeni discontinued at any t+me p~ior tothe earlier o!: ( a) 5 days (or such other period as applicable ~ !aw may speci(y for reinstatement) before sale of the Property pursuant to an i y power oi sate contained in this Securily Instrument: or (b) entry of a judgment enforcing ihis Secwity Instrument. Those conditions are that Borrower. (a) pays Lender all sums which then would be due under this Security Instrument and the Note had no acce~eral+on occurred; (b) cures any deiault of any other covenants or agreements; (c) pays all expenses incurred in entorcing this Securiry Instrument, inctuding, but not timited to. reasonable attorney's fees: and (d) takes such action es lender may reasonably require to assure that the lien of this Security Instrument, tender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall ~ continue unchanged. Upon reinstatement by Borrower. Ihis Security instrument and the obligations secured hereby shalt remain j fuNy eitective as 'rf no accelera~ion had occurred. However. this righ; to reinslale shall not apply in the cas? ot accetera[ien under ~ paragr2phs 13 or 17. ~ ' ~ ~ I ~ ~O d I~ p~~~o g 5~ Pre.ious edi+on o! Jul 84 may De used 084249 Re~+ Sep 84 (tf(7) PC s