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Home My WebLink About0954 4 ~ t ! t ~ i ~ i If Lender required mortgage insurance as a condition of making the loan seeured by this Security Instrument, ' Iiorrower shall pay the premiums required to maintain the insurance in eflect until such time as the requiremem far the ~ insurance terminates in accordance with Borro~~~er's and Lender's written agr~ement or applicable law. ~ ~ 8. Inspection. I.e~ider or its agent may make reasonable entries upon and inspections of the Prope~ty. Lender shall give fiorrowcr notice at the time oCor prior to an inspection specifying reasonable cause for the inspection. t 9, Condemnation. The procceds of any award or ctaim for darnages, direct or co~sequential, in connection with ~ any condemnation or ~ther taking of any part of the ProEserty, ar Por com•eyance in lieu of condemnation, are hereby ~ assigned and shall be paid ro Lender. ~ Rn the event of a total taking of the Yroperty, the proceeds shall be applicd to the sums secured by this Security lnsirumcnt, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property, ~ unless I3orro~ti~er and Lender other~vise agree in writing, the sums secured by this Security instrument shall be reduced by the am~unt of the proceeds multiplied by the following fraction: (a) the tota! amount of the sums secured immediately before the t~Ring, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower. If the Property is abandoned by Borrower, or if, after notice by Lender to Aorrower that the condemnor affers to make an award or settle a c~aim t'or damages, Borrower fails to respond to Leiider within 30 days after the date the notice is gi~~en, I_cnder is autharized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to thesums secured by this S~curity Instrument, whetheror not ihen due. Unless Lender and }3orrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. i0. Borrower Not Released; For6earance By I,ender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secure~l by this Security Instrument granted by Lender to any successor in interest of f3orrower shali not operate to release the liability of the origina) L~orrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or othenvise modify amortization of the sums secured by this Security Instrument 6y reason of any demand made ~ by the original Borro~ver or Horro~ver's successors in interest. Any forbearance by Lender in exercisin~ any right or remedy S shall not t>e a waiver of ar preclude the exercise of any right or remedy. ~ lI. Successors and Asstgns Bound; Joint and Several Liability; Co-signers. The covenants a«d agreements of ~ this Security instrumeni shal! bind and benefit the successors and assigr~s o~ Lender and Borrower, subject to the pro~~is:ons ~ of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security ~ ~ Inst~ument but dces not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey F { that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (e) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations ~vith regard to the terms of this Security Instrument or the Note without that Borrower's consent. ~ 12. Lnan Charges. If the loan secured by this Security Instrument is subject to a laev which sets maximum laan charges, and that law is finally interpreted so that the interest or other loan charges cotlected or to be collected in connection with the loan exceed the permitted limits, then: (a) any such loan charge shal) be reduced by the amount necessary to reduce the charge to the permitted limit; and (b} any sums already collected from Borrower which exceeded permitted limits ~vill be refunded to Uorrower. Lend~r may choose ta make this refund by red~cing the principal oH~ed under the Note or by making a direct payment to Borrower. If a reCund reduces principal, the reduction wilt be treated as a partial prepayment without any prepayment charge under the Note. 13. I,egislation APfecting Lender's Rights. If enactment or expiration of applicable laws has the effect of rendering any provision of the Note or t1~is Security Instrument unenforceable according to its terms, Lender, at its option, may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies permitted by paragraph 19. If Lender exeecises this option, Lender shall take the steps spe~ified in the second paragraph of pacagraph 17. 14. Notices. Any notice to E3orrower provided for in this Security Instrument shall be given by dclivering it or by ' mailing it by first class mai! unless applicable !aw requires use of another method. The notice shall be directed to the Yroperty Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall b~ given by first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to F3orrower or Lender when given as provided in this paragraph. 15. Governing Law; 5everability. This Security Instrament shall be governed by federal law and the law of the jurisdietion in which the Yroperty is located. In the event that any provision or clause of this Security Instrument or the ~ Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrament or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shal! be given one conformed copy of the Note and of this Security Instrument. 17. Transfer of the Property or a Beneficial ~nterest in Borrower. If all or any part of the Prope~ty or any interest i?i it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and ~3orrower is not a natural person) without Lender's prior written consent, Lender may, at its option, reqwre immediate payment in full of alt sums secured by this Security Instrument. However, this option shali not be exercised by Lertder if exercise is proj~ibited by federal law as of the date of this Security Instrument. - If Lender exercises this option, Lender shall give IIorrower notice of acceleration. The notice shall provide a period oT not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower faits to pay these sums prior to the expiration of this period, Lender may invoke any ~ remedies permitted by this Security Instrument without further notice or demand on Borrower. - ~ 18. Bocrower's Right to Reinstate. If Borrower meets certain conditions, Borrowet shall have the right to have ~ enforcement of this Security Insirument discontinued at any time prior to the earlier of: (a) 5 days (or such other perioci as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of'sale contained in this Security Instrument; or (b) entry ot' a judgment enforcing thi~ Security 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 acce2eration occurred; (b) cures an~+ default af any other covenants or agreements; (c) pays a!! expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may ~ reasonably reyuire to assure that the lien of this Security Instrument, Lender's rights in the Property and Borrower's ~ obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by ~ tiorros~~er, this Security Instrument and the obligations secured hereby shail rem~in fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17. ~~os2~ e~sEa9~~ - ~