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Home My WebLink About0971 . . , ~ i ~ •t S • . . ~ ~ lf Lender required mortgage insurance as a condition of making thc loan sccured by this Security lnstrument, Borrower shall pay the premiums required to maintain the insurance in etfect untii such iime as ~ne reyuirci~~ent for the insurance terminates in accordance with Borrower's and Lende~'s written agreement or appticable law. ~ 8. Inspection. Lender or its agcnt may make reasonable entries upon and inspections of the Property. Lender ; shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. ~ 9. Condemnation. The praeeds of any award or claim for damages, direct or consequential, in connection with i 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. . [n the event of a totai taking of the Property~ the proceeds shal! be applieci to the sums sesured by this Security i Instrument, whether or nat then due, with any excess paid to Borrower. In the event of a partial taking of the Property. F ~ .L•- t•--..~:... i............~..~ ..1.e11 t.e ..v1~~nor1 F~v i Uf1ICSS I30frOWCT aIId ~.Cfl(ICI` Olll@FWiSE A$ff~ iii ~tiiliUl~~ Iii~ Slilii5 S~~iii~t Uj ii?i~ .r Luttt~ acia~cu:s...a.. o~.~.:. the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately ; before the taking, divided by (b) the fair market value of the Property immediatety before the taking. Any batance shall be ` paid to Bonower. ~ If ihe Property is abandoned by Bonower, or if, aRer-notice by I,ender to Bonower that the condemnor offers to make an award or settle a claim for damages, Bonower fails to respond to I.ender within 30 days after the date the notice is given, Lender is authoriaed to collect and apply the proceods. at its option, either to restoration or repair of the Property or to the sums secured by this Security Instrument. whether or not then due. Unless Lender and Borrower otherwise agree in writing~ any application of proceeds to principal shall not extend or postpone the due date of the monihly payments referred to in paragraphs I and 2 or change 1he amount of such payments. 10. Borrower Not Reles~sed; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by l.ender to any successor in interest nf Borrower shall not operate to release the liability of the original8orrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or relase to exiend time for paymertt or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by I.ender in exercising any right or remedy , shall not be a waiver of or preclude the exercise of any right or remedy. 11. Successors and Assigas Bound; Joint and Severa! Liabllity; Co-sjgnecs. The covenants and agreements of this Security Instrument shatl bind and benefit the successors and assigns of Lender and Borrower, subject to the proyisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who casigns this Security Instrument but dces not eaecute the Note: (a) is casigning this Security Instrument only to mortgage~ grant and convey that Borcower'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 (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 without that Borrower's consent. 12. Loan Charges. 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 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 to ihe permitteci iimit; anci (b} any sums afieady colle~t;:~ from Bszrrasver which exceeded permitted limits will be refunded to Borrower. I.ender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrawer. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 13. Legislation Affeeting Lender's Rights, If enactment or expiration of applicable laws has the effect of ` rendering any Qrovision of the N~te ~r this 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 ! 9. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of ~ragraoh 17. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by defivering it or by ~ mailing it by first class mail unless applicable faw requires use of another method. The notice shall be directed to the . Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given b} ~ 6rst 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 Borrower or Lender when given as provided in this paragraph. 1S. Governing Law; 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 provision or clause of this Security Instrument or the Note conflicts with appficable 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 oP this Security Instrument and the Note are declared to be severable. 16, Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Transfer of t6e Property or a Beneftcial Interest in Borrower. If ait or any part of the Property or any interest in it is sold or transferred (or if a bene6cial interest in Borrower is sold or transferred and Borrower is not a natural per~on) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrvment. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed wiihi~ 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 rrray 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 shaU have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) S days (or such other period as applicable law may specity for reinstatement) before sale of t~e 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 expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees; and (dj takes such action as I.ender may reasonably require to assure that the lien of this Security 1'nstrument, Lender's rights in the Property and Borrower's ' obligation to pay the sums secured by this Security Insttument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully eflective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of seceleration under paragraphs 13 or 1 600K 539 PAGE 967 _ _ , _ _ . . - . _ _ •~~-.~~..r.~~~..~:..~..._ _ _