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Home My WebLink About0967 ~ , . . I( l.ender required mortgagQ insurance as a conciition of makingihe toan secured by this Securily Instrun~ent, Boirower shall pay thQ premiums required to maintain the insurancQ in ettect unt+l such tirne as Ihe requirement tor the insurance terminates in accordance with Borrower's and Lender's wr+tten agreement or applicable law. ` 8, in~pecllon. Lender or its agent may make reasonablQ entries upon and inspections of thQ Property. Lender shall give Barrower notice at ihe lime of or piior to an inspection specifying reasonable cause tor the inspection. 9. Condemnallon. The proceeds of any award ar claim tor damages, direc~~ co~iB~Ue~tial :1ry.cq}u~ection ~vi1h any condemnation or other taking o( any ~,arl of Ihe Property, or for conveyance in lieu oi condemnation, a~E hereby assigned andshall be paid to Lender. ~ . s , + • ~ : In the event of a total taking of Ihe Property, the proceeds shatl be apptied to the sums secured by Ihis 5ecu~ity lnslrument, whether or not Ihen dus, with a~y excess paid to Borrower. In the event ot a partial taking oi the Property, unless Borrower and Lender otherwise agree in writing, lhe sums secured by this Securily Instrument shall be reduced by the amount of the proceeds multiptied by the tollowing traction: (a) the tolal amount of the sums secured immedialely before the taking, divided by (b) the fair market value ot ihe Properiy immediately before the taking. Any balance shalf be paid 1o Borrower. If the Property is abantloned by Barrower, or if, attQr notice by Lender to Borrower that the condemnor oifers to make an award or settle a claim for damages. Borrower fails to respond to Lender witi~in 30 days after the date the notice is given, Lender is authorized to collect and apply the proceeds, at its oplion, either to restoralion or repair o( the Proper[y or to the sums secured by this Security Instrumenl, whether or not lhen due. Unless Lender and Borrower otherwise agree in ~vriting, any application ot pioceeds to princip~l shalt not extend or postpone the due date ot Ihe monthty payments referred to in paragraphs 1 and 2 to change the amount of such payments. t0. BorrowerlVot Releaaed; Forbearancg By Lender Not a W¢iver. Extension ot the time tor payment or modification of amoriization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shal! nol opera;e to re'ease the liabitity of the original Borrower or Borrower's successois in inlerest. Lender shall not be required to commence proceedings against any successor in interest or retuse to extend time for payment or otherwise modify amortization ot the sums secured by this Security Instrument by reason ot any demand made by the original Barrower or Borrower's successo?s in interest. Any lorbearance by Lender in exerc~sing any right or remedy shall not be a wa+ver of or preclude the exercise of any right or remedy. 11. Successors and Assfgns Bound; Jolnt and Severat LlebUity; Co-slgners. The covenants and agreements of t1~is Security Instrument shall bind and benefit !he successors and assigns ot Lender and Borrower, subject to the provisions of paragtaph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs ihis Securiiy Inslrument but does noi execule lY~e Note: (a} is co-s:gning Itiis Security Instrument only to mortgage, grant and convey ihat Borrower's interest in the Property under the terms of this Security Instrumenl; (b) is not personalty obligated to pay the surns secured by this Security lnstrument; and (c) agrees ihat Lender and any other Borrower may agrew to extend, modity, torbear or ; maks any accommodations with regard to the terms of this Security Instrument or the Note withoul that Borrower's consent. ~ 12. Lo~n Charges. I( Ihe loan secured by this Security Insirum2nl is subject to a la~v which sets maximum loan charges. ~ and that law is tinally 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 the charge tothe permitted limil: and (b) any sums already collecled from Borrower which exceeded permitted limits will be retunded to Borrawer. ~ender may choose to make this relund by reducingthe principal owed under the Note or by making a direct aayment to Borrower. Ii a refund reduces principal, the reduction wifl be treated as a parlial prepayme~t without any prepayment charge under the Note. • 13. Leglslatlon lA{fecting Lend¢r's Rlghts. Ii enactment os expiration oi appiicable iaws has the eifect of renderingany provision of the Note or this Security Instrument unenforceable according to its terms, LPnder, at its option, may require immediate ~ ~ payment in tull ot all sums secured by ihis Security Instri~meni and may invoke any remedies permilted by paragraph 19. If Lender ' exercises this bption, Lender shafl take the steps specitied in !he second paragraph of paragraph 17. ~ 14. Nottces. Any notice to Barrower provided for in t.his Security Instrument shall be given by delivering it or by mailing it , by first class mai! unless applicable oaw requires use of another method. The notice shall be directed lo the Property Address or any ~ other address Borrower designates by notice to Lender. Any notice lo Lender shall be given by first class mail toL~ender's address ~ stated herein or any other address Lender designates by notice to Borrower. Any notice provided (or in thi~ Security Instrument shall be deemed to have been given lo Borrower or Lender when given as provided in this paragraph. 15. Governing Law; Severablllty. This Securily Instrument shalt be governed by leoeral !aw and ihe law of the jurisdiction in which the Property is located. tn the event that any provisionor ciause of lhis Security Instrument or the Note contlicts with applicable law, such conilict shall not afleci other provisions of Ihis Security Instrument or the Note which can be given effect withoui the contlicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. i6. 8orrosve?'s Copy. Borrower shall be given one conformed copy of the Note and oi this Securiiy Instrument. 17. Transler of the Property or ~ Beneticlal Interest ln BorowBr. If all or any pa!t of the Property ar any interest in if is sold or transferred (or ii a beneficial inierest in Borrqwer is sotd or transferred and Borrawer is no[ a natural person) ~vithout Lender's prior written consent. ~ender may, at its option, require immediate payment in fu(I of all sums secured by this Security lnstrument. ~ However, this option shall not be exercised by Lender if exercise is prohibiteci by federat law as of the date o! lhis Security InstrumenL If Lender exercises Ihis option, Lender shaN g+ve Sorro~ver notice of acceleration. The notice shall provide a period oi not less than 30 days from the date the n~tice is defivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period. Lender may invoke any remedies permilted by lhis Securiiy Inst!ument wilhou! further notice or demand on Borrower. 18. Borrowe~s Rlght to Relnatate. Ii Borrower meets certain conditions, Borrower shafl have the right ta have enforceme~t of this Security Instrument discontinued at any time prior tothe eartier of: ( a) 5 days (or such other period as applicable law may specity for reinstaternent) before sale of the Property p~rsuant to any pawer of sale coniained in this Secu~itylnstrument: or (4) entry of a judgment enforcing ihis Security tnstrument. Those condiiions are that Borrower: (a) pays Lender all sums ~vhich then would be due under this Security Instrument and lhe Note had no acr.eleralion occurred; (b) cures any defauli of any other covenants or agreements; (c) pays al! expenses incurred in enforcing this Security Instrument, including. but not I~mited to. reasonabte attorney's fees: and (d) takes such action as Lender may reasonably require to assure [hat the lien oi lh;s Security - Instrument, Lender's rights in the Property and Borrower's obligation to pay Ihe sums secured by this Security instrument shall conlinue unchanged. Upon rEinstaternent by Borrower. this Security Instrument and the obligations secured hereby shali remair~ fully e(fective as if no acceleration had occurred However, this right to reinstate shat( not appty in the case of acceteration under paragraphs 13 or 17. B~0 5 I~ P~~O 6 3 prena~s etl~!ron d Ju~ 84 may be used 0~219 Rev Sep 81 (ib(Y2) PC