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Home My WebLink About0963 , . If lender required morlgage insurance as a condition o( makingthe loan secured by Ih~s Security Instrumenl, fiorrower sha!I pay lhQ premiums required to maintain thQ insurancQ in Offect untii such time as the requiremenl lor thQ insurance terminates in accordance with Borrower's and Lender's ~vrftten agreement or applicabls law. B. Inapection. Lender or its agenl may make reasonable entries upon and inspeclions o( Ihe Property. L~nder shall give 8orrower notice a! thQ Iime of or prior to an inspectinn specitying reasonablQ causQ lor the inspection. 9. CondamnAUon. The proceeds o( any award or claim for damages, direct or conse9u~nti~k~n co~nect~qn~rith any condemnalion or olher taking of any part ot !he Properiy, or ior conveyance in lieu of cundernnation, are hereby~assic~ned and shall ba paid to Lender. In lhe event of a total taking of the Property, the proceeds shall be apptied to the sums secured by this Security Inst~urnent, whether or not then due, with any excess paid to Borrower. In the event ol a partial taking ot the Property. unless Borrowe~ and Lender ofherwise agree in writing, the sums secured by this Security lnstrumeni shall be reduced by the amount ot the proceeds multiptied by the tollowing fract+on: (a} the total amount of the sums se~ured immediatety betore the taking, divided by (b) the lair market value ot the Properiy immediately be(ore the taking. Any balance shall be paid to Borrower. If the Property +s abandoned by Borrower, or if, after nolice by Lender to Borrower ihat the condemnor ofters to make an award or setlle a claim (or damages, Borrower fails lo respond to Lender within 30 days after the date the notice is given, lender is authorized to collect and apply the p!oceeds, at its aption, either to restoration or repair o( the Property or to the sums secured by this Security Irstrumenl, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application ot proceeds to princip~l shall not exlend or postpone ihe due date of the monthly payments reterred to in paragraphs 1 and 2 to change lhe amount of such payments. 1Q. 8orrower Not Released; ~orbearence ~y Lender Not a Walvor. Extension of the time tor payment or mo~itication of amortizaiion ot the sums secured by this Security Instrument granted by Lender to any successor in interest of Bor~ower shall not operate to release the liab+lity of the original Borrower or Barrower's successors in inlerest. Lender shall not be required to commence proceedings against any successor in inierest or refuse to extend iime tor payment or otherwise mod~fy amortization ot the sums secured by this Security Instrument by reason of any demand made by the original Borro~ver or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy sha!i noi be a waiver of or preclude the sxerciseoi any righ! ~r remedy. E 1f. Succesaors and Asalgn~ ~ound; Jolnt and Severa! Llablllly; Co-slgners. The covenants and agreements of this ~ Securiiy Instrument shall bind and benefii !he successors and assigns ot Lender and Borrower, subject lo the provisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borro~ver who co-signs this Security ~ Insirurr~eni but does not execute the tVo!e: (a) is co•signing ihis Security Instrument on.y to mortgage. granl and convey thal ; Bo!ro~ver's inlerest in the Properiy ~nder the terms of this Security Instrument; (b) is not personaly obtic~ated to pay the sums ~ secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, lorbear vr make any accammodations with re~ard lo the terms oi lhis Security tnstrument or the Note without that Borrower's consent. 12. Loen Charge$. If the loan secured by this Security Instrument is subject to a!aw which seis ma~cimum loan charges. and that taw is finatty interpreted so that the interest or other loan 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 reduce lhe charge to the permitted limit; and (b) any sums already collected irom Borrow2r which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under ihe Note or by making a direct payment to Borrower. Ii a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. ~ 13. Leglsletfon Afiecting Lender's Hlghta. If enactment or expiration of appticabte taws has the effect of renderingany ~ provision of tne Nole or this Securily Instrument uneniorceable according te its terms. Lender, at its option, may require+mrnediate ~ payment in tull of all sums secured by this Security tnstrument and may invoke any remedies permilted by paragraph 19. If Lender ~ exercises this option, Lender shall take the steps specified in the second paragraph ot paragraph 17. ~ 14. Notlces. Any notice to Borrower provided for in this Security Instrumenl shall be given by delivering it or by mailing it ~ by first class mail unless applicable law requires use oi another method. The natice shall be directed to lhe Property Address or any ~ other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address ~ stated herein or any ather address Lender designates by notice to Borrower. Any notice provided ior in this Security Insfrument ~ shall be deemed to have been given to Borro~ver or Lender when c~iven as provided in this paragraph. ~ 15. Governing Law; Severabll(ty. This Security Instrument shati be governed by federal law and the !aw ot !he ~ jurisdiction in which the Property is localed. In the event that any provisionor clauseof this Security Inshument orlhe Noteconilicts with appticable (aw, such conflict shafl not afteci oiher provisions of this Security lnstrument or the Note which can be given eftect witt~oui the conflicting provision. To lhis end !he provisions of this Securily Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one coniormed copy oi the Note and of this Security Instrument. 17. Transter ot ihe Property or a Benellclal Interest In Sorower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneticial interest in Eiorrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, lender may, ai its option, require immediate payment in full of atl sums secured by this Security Instrument ~ However, this option shall not be exercised by Lender if exercise is prohibitec! by federal law as of ihe date of ihis Sec~rity Instrument. (f Lender exercises this option. Lender shall g+ve 8orrower notice oi acceleration. The notice shall provide a period of not tess than 30 days from tne dale the notice is delivered or mailed within which Borrower musl pay all surr~s secured by this Security lnstrumenl. !f Borrower fails lo pay these sums prior to the expiration of this period, Lender may invoke any remedies perrnitte~ by this Security instrument without (urther notice or demand an Borrower. 18. Borrower's Rlght to Retnstate. If Borrower meets certain conditions. Borrower sha~l have the right to have entorcement oi this Security Instrument discontinued at any time prior tothe earlier of: ( a) 5 days (or such other period as applicabte law may specify fior reinstatement) before sale of the Property pursuant to any power of sale contained ir~ th+s Security Insirument or (b) entry ot a judgmenl enforcing this Security Instrument. Those condiiions are ihai 8orrower: (a) pays Lender all sums which then woutd be due under this Security Instrument and the Note had no acceleralion occurred: (b} cures any delault ot any other covenants or agreements; (c) pays all expenses incurred in enlorcing this Security Instrument, including. but not limited to. reasonab)e attorney's fees; and (d) takes such action as Lender may reasonab!y require to assure that the lien of lhis Security instrument, lender's rights in the Property and Borrov~er's ob!igalion to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstaterrient by Borrower, this Security Instrument and the obligations secured hereby shall remain tully etteclive as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceteration under - paragraphs 13 or 17. e~Q S f~ P~GEO 95 g Prerious e0;tw~ pt Ju18A may be used p892<9 R2r SEp 81 (1602j PC