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Home My WebLink About0953 If Lender required mertgage insurance as a condition of mak~ng the loan secured by this Secunty Insirumenl. E3orrower shall pay the premiums required to maintain the insurance in effect until such lime as the requirement for the ~nsurance terminates in accordance with Borrowe~'s and Lender's wrilten agreement or applicab~e law. 9. Inspectlon. Lender or ~ts agent may make reasonable entr~es upon and inspections of the Property. Lender shall give Borrower notice at the time ot or prio~ to an inspection speci(ying reasonable cause tor the inspection 9. Condemnatlon. The proceeds oi any award or claim lor damages. direct or consequential, In connect~on ~vith any condemnation or other taking oi any part of the Property, or to~ conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. ~ In the evenl ot a totat taking of Ihe Property, the proceeds shall be applied to the sums secured by this Security Instrument. whether or not then due, with any excess paid to Borrower. In the event ot a partial taking of the~rope~ty, unless Barower and ; Lender olherwise agree in writing. the sums secured by this Security tnstrument shall be reduced by the amount ot the proceeds mulliplied by the tollowing traction: (a) the total amount oi the sums secured immediately betore the taking, divided by (b) the tair market vatue of lhe Property immediately betore the taking Any balance shal? be paid to Borrower. li the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim (or damages. Borrower fails to respond to Lender wilhin 30 days after ihe date thenotice is given, Lender is authonzed to collect ~nd appy the proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not Ihen due. Unless ~ender and Borrower otherwise agree in writing. any application oi proceeds to princip~l shall not extend or postpo~e the due date ot the monthty payments referred to in paragraphs 1 and 2 to change lhe amount ot such payments . 10. Borrower Not Released; Forbearance By Lende~ Not a Walver. Extension ot the time for payment or mod~(ication ot amortization of the sums secured by this Security Instrumenl granted by Lender to any successor in interesl oi Borrower shall not operate to release the tiability of ihe original Borrower or Borrower's successors in interest lender shall not be required to commence preceedings against any suCCessor in interest or retuseto extendlime(or payment or otherwisemod~(y amortization of the sums secured by lhis Security Instrument by reason ot any demand made by the original Borrower or Borrower's successors in interest Any forbearance by Lender in exerc~sing any riqh! or remedy shall not be a waiver ot or prectude the exercise oi any right a remedy. - 11. Successors and Assigns Bound; Jolnt and Several Llability; Caslgnera. The covenants and agreements of th~s Security Instrument shall bind and benefit the successors and assigns of Lende? and Borrower. subject to the provisions ot - paragraph t 7. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Secunty Instrument but does not execute the Note~ (a) is co-signing this Security Instrument only to mo?tgage. grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally ob!~gated to pay the sums secured by this Security Instrument: and (c) agrees that Lender and any other Borrower may agree to extend. modify. forbear or make any accommodations with regard to the terms of this Security Instrument or the Note withoui that Borrower's consent 12. loan Charges. If the toan secused by this Security Instniment is subject to a law which sets maximum IUan charges. and that law is f~nalty interpreted so that the interest or other loan charges collected or to be collected in connection wilh the loan exceed the perm~lted fimits. then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge tothe permitted limit: and (b) any sums already collected from Borrower which exceeded permltted limits witl be refunded to Borrower Lendermaychoosetomakethisrefundbyreduc~ngtheprincipalowedunderthetyoteorbymakingadirectpaymenttoBorrower It a refund reduces principal, the reduction witl be treated as a partia! prepayment without any prepayment c~ha~ge und~~ the Note 13. leglslatlon Alfeciing Lendet's Rlghts. li enactment or expiratiori of applicable laws has the effect of rendering any orovision of the Note or this Secunty Instrument unenforceable according to its ter?Tms. Lender. at its option. may require immediate ~ payment in full o( all sums secured by th~s Security Instrument and may invoke any remed~es permitted by paragraph 19. If Lender ~ exercises thls opt~on. Lenuer sha11 take the steps speci6ed in the second paragraph of paragraph 17 ~ a 14. NotiCes. Any notice to Borrower provided for m this Secunty Instrument shall be given by det~vering it or by maiting ~t ~ ! ' by first class mail unless applicable law requfres useof another method The nctice shall be d~rected tothe PropeRy Address or any ~ i other address Borro::er des~gnates by notice to Lender Any not~ce to Lender shall be given by first class maHto Lender's address ~ ~ stated herem or any other address Lender designates by not~ce to Borrower Any not~ce prov~ded for ~n this Security Instrument ( ~ shafl be deemed to have been given to Borr~wer or Lender when given as provided in this paragraph 15. Governing Law; Severabtltty. This Security Instrumert sha11 be governed by (ederal lativ and the law of the ; ~urisdic6on m which the Property ~s located In the event that any prov~s~onor clauseot this Security Instrument or the Note confhcts i w~th ap~ilicabte law. such conflict shall not atfect other provisions ot this Security Instrument or the Note which can beg~ven ef!ect ~ i without the confl~cting provision To this end the prov~s~ons of this Security Instrument and the Note are declared to be severable ' i 16. Borrower's Copy. Borrower shall be g~ven one conformed copy of Ihe Note and of this Security Instrument 17. Transfer oi the Property or a Beneficial Interest in Borower. If alt or any part of !he Property or any mterest in ~t ~s sold or transferred (or rf a beneficial interest m Borrower ~s sold or transferred and B~rrower is not a naturat person) w~thout Lende~ s ~ pnor written consent. lender may at its option. requ~re ~mmediate paymenl in futl of all sur~s secured by this Secunty Instrument. Ho~r~ever. this option shai! not be exerased by Lender ~f exerc~se ~s prohibited by federat taw as of the date of this Secunty Instrument It Lender exercises Ih~s ophon. Lender shall give Borrewer notice of acceleration The notice shali provide a penod of not less than 30 days trom the date the nohce is detivered ar maited within which Borrower must pay all sums secured by th~s Secunty ~3 Instrument If Borrovrer taits to pay these sums prior !o the expiration of this period. Lender may invoke any remedies perm~tted by ~ th~s Security Instrument ~r~ithaut turther nofice or dsmand on Borrower 18. BorrowePs Right to Reinstate. It B~rrower meets certain conditions. Borrower shalt have the right to have enforcement of this Security Instrument discontinued at any time prior tothe earlier oi: (a) 5 days (or such other period 2s appl~cab!e la:v may s~ecify for reinstatementl betore sale ot the Property oursuant to any power of sale contained in this Secur~ty Instrurneni: or (b) entry of a judgment enforcing Ihis Security Ins?rument Those conditions are that Borro~ver (a) pays Lender ail sums which F ~ then would be due under Ihjs Secur~ty Instrument and the Note had no acceteration occurred: (b) cures any defau~t of any othe~ ; covenants or agreements: (c) pays all expensss ~ncurred in enforcing ihis Securrty Instrument. includmg. but not Gmited to. ~ reasonable attorney~s fees: and (d} takea such action as Lender may reasonabty require to assure that the tien of lhis Securfty ' Instrument. Lender s rights in the Property and Bofrower~s obligat~on to pay the sums secured by thfs Security Instrument shali continue unchanged Upon reinstatement by Borro~rrer. this Secur;ty Instrument and the obhgations secured hereby shall remain fulty effect~ve as it r,o accelerat~on had occurred Howev~r. th~s riyht to re~nstate shatl not apply in the case of accelerat~on under parayiaphs 13 or 17 0 5 3 0 PI~O 9 5 2 p~e,,,pis ebtan d Jul 84 rray De u,cd OB9T~9 Rev Sep BI 11602) PC 3r<