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Home My WebLink About0973 r--- - ' ' If L.ender rcquired mortgage insurance as a condition of making thc loan secured by this Security Instrument. Borrower shall pay the premiums required to maintain the insurance in el~ect until such time as tht requirement for the insurance terminates in accordancr with Borrower's and Lender's written agrcement or applicablr taw. 8. Inapection. Lender or its agent may make reasonable tntries upon and inspoctions of the Property. Ler~der shall give Bonower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 9. Condem~wtion. The proceeds of any award or claim for damages, dircct or constquential, in connection with any condemnation or other taking of any part of the Property~ or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. ln the event of a total talcing of the Property, the proceeds shall be applied to the sums secured by this Security Instrument, whether or nQt then due. with any excess paid to Borrower. In the event of a partial taking of the Property. unless Bonower and Lender otherwise agree in writing, the sums securod by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fractian: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shaU be paid to Horrower. If the Property is abandoned by Borrower~ or if. aRer notice by Lender to Bonower that the condemnor offers to make an award or settle a claim for damages~ Bonower fails to respond to Lender within 30 days aRer the date the notice is given, Lender is authorized to collect and apply the proceeds, at its option. either to restoration or repair of the Property or ~ , to the sums secureci by this Security Instrument~ whether or not then due. ~ Unless I.ender and Borrower 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. ' 10. Borrower Not Rele~rsed; Forbeannce By Leader Not a Wdver. Eztension of the time for payment or ~ modification of amortization of the sums sxured by this Security Instrument granted by Lender to any successor in ; interest of Horcower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. ~ Lender shall not be required to commence proceedings against any successor in interest or refusc to extend time for ~ payment or otherwise modif amortization of the sums secured b this Securit Instrument b reason of an demand made Y ~ y y y y by the original Borrower or Bonower's successors in interest. Any forbearnnce by Lender in exercising any right or remedy ~ shall not be a waiver oi'or preclude the exercise of any right or remedy. 11. Succesaors and Assigns Bound; Jotnt aad Se~eral Liabillty, Co-signees. ?he covenants and agreements of this Securit Instrument shall bind and benefit the su rs i Y ccesso and ass gns of Lender and Borrower, subject to the provisions of ara ra h 17. Borrower's v p g p co enants and agrcements shall be joint and several. Any Borcower who co-signs this Security Instrument but does not eaecute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey , . that Borrower s in terest in the Pro rt ander the 4erms of this Securit Instrument is not rsonall obli ated to a~ Pe Y Y , N) Pe Y 8 P) the sums secured b this Securit Instrument• and c a r II y y , O g ees that I.ender and any other Borrower ma a ree to extend, Y 8 I modify. forbear or make any accommodations with regard to the terms of this Security Instrurnent or the Note without that Bonower's consent. y 12. I.oan Gbarges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan ~ charges, and that law is finally interpreted so that the interest or other loan charges callected or to be collected in connection with the loan eaceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount = necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Bonower which exceeded 9 permitted limits will be refunded to Bonower. I.ender 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 reduces principal, the reduction will be treated as a partial prepayment without any prepayment ~harge under the Note. 13. IRg~SIANOD Affecting Lender's Rtghts. If enactment or eapiration of applicable laws has the efi'ect of - rendering any provision of the Note or this Security Instrument unenforceable according to its terms, L.ender, 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 exercises this option, Lender shall take the steps specified in the second paragraph of paragraph 17. - 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to L~.nder. Any notice to I.ender shall be given by first class mail to Lender's address stated herein or any other address I,ender designates by notice to Borrower. Any notice provided for in this Security Instrument shatl be deemed to have been given to Borrower or Lender when given as provided ~ in this paragraph. 15. Coverning I.aw; Severability. ?his Security Instrument shall be governed by federal law and the law of the = jurisdiction in which the Property is located. In the event that any pro~ision or clause of this Security Instrument or the ~ Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument 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. I6. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument_ 17. Traasfer of the Property or a Beneftcistl Iaterest in Borrower. If all or any part of the Property or any ~Y ' interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural ~ person) without Lender's prior written conscnt, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall nat be exercised by L.ender if exercise is prohibited by ~ . federal law as of the date of this Securiry Instrument. If I,ender exercises this option, Lender shall give Bonower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay ail sums secured by this Security Instrument. If Bonower fails 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. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier ~f: (a) 5 days (or such other period 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 of a judgment enforcing this 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 acceleration } occurred; (b) cures any default of any other covenants or agreements; (c) pays all eapenses incurred in enforcing this ~ Security Instrument, including, but not limited to, r~asonable attorneys' ~'ee.c; and (d) takes such action as Lender may ~ reasonably require to assure that the lien of this Security fnstrument. L,ender's rights in the Property and Borrower's - obligation to pay the sums secured by this Security Instrument sha11 continue unchanged. Upon ~einstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain 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. _ ~ . ~ BK05~7 PA~0971 ` _ , _