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Home My WebLink About0915 . ~ ; If Lender required mortgage insur~nce as a condition ot makinglhe loan secured by this Securiry Irutrument, Barow~r shau ~ pay the premiums required to mainlain the insurance in effed until such time as the requ'aement br the insurt~nce terminales in accordance with Barower's and lender's written ag?eement or applicabte law. A. Insp~Ctbn. Lender or its agent may make ressonable c~ntres upon and inspeclions d the Rropc~ty. Lender shatl give Borrowe? notice at the time ol or pria lo an inspedion speciying reasonable cause (or the inspection. Cond~mnatlot~. The proceeds of any award or cla~m for damages, direq or consequential, in connedion with any condemnation w other taking ot any part ot the Property, or tor conveyance in lieu of oondemnation, are here5y assigned and shali be paid to Lender. In the event of a total taki~ ot the Property, the proceeds shall be applied to the sums secured by this Securiy Instrument. whether or not lhen due, wilh any excess paid io Borrower. In the event of a partial taking ot the Property, uNess Borrower and Lender ~Iherwiso agree in writing, the sums secured by this Security Instrument shall be reduced by the amount oi the proceeds multiplied by the fotlowing (raction: (a) the tdal amour?t ot the sums seCUred immediatey betore the taking, divided by (b) the lair ma~cet vatue ol the PropeRy immediatey before the taking. Any balance shall be paid to Barower. If the Property is aba~doned by Borrower, or ii, atter notice by Lender to Borrower that ihe condemna ot(ers to make an award or settle a claim for damagos. Bo~rower tails to respond to Lender wit~iin 30 days after the date the notice is given, Lender is authorized to collect and appy the proceeds, at its option. eilher to restaation or repair of lhe Property or to the sums secured by this Security Instrumenl, whelher or not the~ due. . Unless Lender and Borrower otherwise agree in writing, any appticaiion ot proceeds to Qrincipal shall not extend or postpone the due date of the monthy payments reterred to ?n paragraphs 1 and 2 to change the amount ot such payments. 10. BorrowK Not R~t~a~~ Forb~aranc~ By L.~nder Not a Wa1vK. ~xte~s~on ol the time fot payment or mod~tication of amortiiation ot the sums secured by this Security Instrument granted by Lender to any successor in interest ot Borrower shaU not ope~ate to release the liability ot the original Barower or Borrower's successas in interest. lender shall not be required to commence proceedings against any successor in interest or re(useto extendt~~re for payment or othenvise modify amoA¢ation ol the sums secured by this Security Instrument by reason of any demand made by the original fiarower or Barower's successas in interest. Any torbearance by Lender in exerc+sing any right or rernedy shall not be a waiver of or preclude the exerc'u^e of any right or remedy. ; 11. 3uce~sson snd Aal~ns Boun~ Jolnt and 8hr~ral Llablllty; Co-W~nKS. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to !he provisions ol paragraph 17. Borrower's covenants and agreements shall be joint and several. Arry Borrower who co-signs this Security Instrume~t but does not execute the Note: (a) is co-signing this Security Instrl~ment ony to mortgage: grant and convey thal Borrower's interest in the Property under the terms o( this Security Instrument: (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other 8orrower may agree to extend. rrtodily. lorbear or make any accommodations with regard to the te?ms of Ihis Security Instrument or the Note without that Borrower's conseni. 12. loan Char~~s. If the loan secured by this Security Instrument is subjed to a law which sets maximum ban charges. and that law is finally interpreted so that the interest or other loan charges collected or to be collected in oonnection with the loan exceed the permitied limits, then; (a) any such loan charge shall be reduced by the amount necessary to reducethechargetothe permitted limit: and (b) any sums already collected irom Borrower which exceeded permitted limits will be refunded to Borr~wer. Lender may choose to make this retund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduce~ principal, the reduction will be ereated as a partial prepayment without any prepayment charge under the Note 13. Legblatlon Aft~ctlnq Lentf~s Rl~hfs. If enactment or expiralion o( applicable laws has the effed of rendering any provision ot the Note or this Security Instrument unenforceable according to its terms. Lender, at its option, may require immediate ~ paymenl in full of all sums secured by this Security Instrument and may invoke any remedies permitted by paragraph 19. If Lender exercises this option. Lender shall take the steps specified in the seoond paragraph of paragraph 17. ; 14. NoUces. Any notice to Borrower provided (or in this Security Instrument shall be given by delivering it or by mailing it I b first class mail untess a icable law r uires useof another method. The notice shall be directedtoth~ Pro Address or an Y PP~ ~ PertY Y other address Borrower designates by nolice to lender. Arry notice to l.ender shall be given by first class mail to Lender's address ' stated he~ein or any other address Lender designates by notice to Borrower. Arry notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lendgr when given as provided in Ihis paragraph. I~~~ 15. Gov~rnln~ Law; SwKablllty. This Securiry Insirument sha~l be governed try (ederat law and the law of the ~ jurisdictian in which the Property is located. In the event that arry provision or cfause ot this Security Instrument or the Note conflids with applicabte law, such conflict shall not affect other provisions of th+s Security Instrument or the Note which can be given effect wilhout the conflicting provision. To this end the provisions ot ihis Security Instrumsnt and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of ihis Security Instrument. 17. Transter of th~ Rrop~rty or a Bensfldd Intere~t In Borow~r. li all or any part of the PropeRy a any interest in it is sold or transferred (or 'rf a beneficial interest in 3orrower is sold or transierred and Borrower is nol a natural personj without Lender's ~ pria written consent, lender may, at 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 prohibited by federat law as oi the date of this Security ' InstrumenL If Lender sxercises this option, Lender shall give Borrower notice of acceleration_ The notice shall provide a period of not iess than 30 days from the date the noiice is deiivered or mailed within which Barrower must pay all sums secured by this Security Instrument. If Borrower fa~ls to pay these sums prior to the expiration of this period, Lencler may invoke any remedies permitted by i ihis Security Insirument without further notice or demand on Borrower_ 18. BonowK's RI~M to R~Instat~. If Borrower meets certain condit~ons. Borrower shall have the right to have enforcement of this Security Insirumenl discorqinued at any time prior to the earlier of: ( a) 5 days (or such other pe~iod as applicaWe law may specity far reinstatement) before s21e of !he Property pursuant to an;~ power oi sale contained in ihis Security Instrument: or (b) entry of a judgment eniorcing this Security Instrument. Those conditiors are thaf Borrowe~: (a) pays Lender all sums which then would be due ur.der this Security Instrument and the Note had no acceleration o~:curred: (b) cures any defauit of arry other covenants or agreemen±s: (c) pays all expenses incurred in entorcing this Security Instrument, inGuding, but nd limited to. , reasonable attorr.ey's tees: and (cn takes such action as Lender may reasonabiy require ta assure that the lisn of this Security Instrument. Lender's rights in the Property and Borrower's obligation to pay the sums secured by lhis Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Secursty Insirument and the obligations secured hereby shall remain (uly effeciive as it no acceleration had occurred. However, lhis right to reinstate shall not apply in the case of acceteration under paragraphs 13 or 17. ~~'!r ~ ~K ~s-~~c."_._. . . r__ ~ _ ' . - .i~~ ~ _ _ _ _