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Home My WebLink About0942 • ~ ~ • If Lender roquired mohgage insurance as a condition of making the loan securod by this Security Instrument~ Aonower shall psy the premiums roquired to maintain the insurance in etfxt until such time as the requirement for the insurance terminates in accordance with Bor~ower's and I.ender's written agrament or applicable law. 8. .Iaapecdoa. L.ender or its agent may make reasonable entries upon and inspections of the Property. I.ender shall give Horrower notice at the time of or Prior to an iaspoction spocifying reasonable cause for the inspection. 9. CondemnaHon. The proceeds of any award or claim for damages~ direct or consoquential~ in connection with any condemnation or other taking of any part of the Property~ or Por conveyance in lieu of condemnation, are hereby assigned and shall be paid to I.endcr. In the event of a total taking of the Propeny~ the procceds shall be applied to the sums secured by this Security Instrument~ whether or not then due, with any eacess paid to Borrower. In the event of a partial taking of the Property~ unless Borrower and Lender otherwise agra in writing~ the sums securod by this Security Instrument shall be reduced by the amount of the proceads multiplied by the following fraction: (a) the total amount of the sums securod immodiately ~before the taking, divided by (b) the fair market value of the Property immediatcly before the taking. Any balance shall be paid to Borrower. ~ If the Froperty is abnndoned by Bonower, or if~ after ~otace by I.ender to Bonower that the condemnor oRers 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 suthorized to collect and apply the procteds, at its option, either to restoration or repair of the Property or to the sums secured by this Socurity Instrument, whether or not then due. Unless Lender and Bonower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referrod to in paragraphs 1 and 2 or change the amount of such payments. 10. Bon~ower Not Reieased; Forbearance By I.ender Not a Wai~er. Extension of the time for payment or modification of amortization of the sums socurod by this Security Instrument granted by I.ender to any successor in interest of Borrower shall not operata to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be requirod to commence proceedings against any successor in interest or refuse to extend time for paymtnt or otherwise modify amortization of tht sums securod by this Security tnstrument by re~son of any demand made by th~ original Bonower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 11. Succ~aeors and A~tigea Bound; Jolnt and Setenl Uabtlity; Co-si~pnera. The covenants and agrcements of this Security Instrument shall bind and bene6t the successors and assigns of Lender and Borrower, subject to the provisions of paragraph iT. Borrower's covenants and agreements shall be joint and several. Any Bonower who casigns this Socurity Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage. grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not pcrsonally obligated to pay the sums secured by this Security Ic~strument; and (c) agras 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 Bonower's consent. i 12. Losn Cbarges. If the toan secured by this Security Instrument is subject to a law which sets maaimum loan - ~ charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in ~ connxtion with the loan exceed the permitted timits, then: (a) any such loan charge shall be rcducod by the amount ~ necessary to roduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permittod limits will be refundod to Borrower. Lender may choose to make this refund by reducing the principal owed ` undtr the Note or by making a direct paymrnt to Borrower. If a refund reduces principal, the reduction will be treatod as a partial prepayment without any prepayment charge under the Note. 13. Legialatlon AReeting Leeda't Righte. If enactment or eapiration of applicable laws has the effect of rendering any provision of the Note or this Socurity Instrument unenforceable according to its terms, Lender~ at its option, ~ may roquire immediate payment in full of all sums securod by this Security Instrument and may invoke any remedies ~ permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps spocified in the second paragraph of paragraph 17. 14. Notices. Any notice to Borro~va provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicabie law roquires use of another method. The notice shall be directed to the Property Address or any other address Borrowec designates by notice to I.ender. Any notice to Lender shall be given by 6rst class mail to Lender's addross atated herein or any other addr~ss Lender designates by notice to Borrower. Any notice providtd for in this Security Instrumtnt shall be deemed to have bcen given to Bonower or Lender when given as provided in this paragraph. 15. GoreraIng Lrr, Se~tnb[lity. This Security Instrument shail be governed by federal law and the law of the jurisdiction in which the Property is locatod. In the event that any provision or clause of this Security Instrument or the Note conflicts with aQplicable law~ such oonflict shall not affect other provisions of this Security Instrument or the Note which can be givrn effect without t6e con!licting provision. To this end the provisions of'this Security Instrument and the Note are doclared to be severable. 16. Borrower'a Copy. Bonowet shaA be given one conformed copy of the Note and of this Security Instrument. 17. Tnasia o! the Pmpert3+ or a BeaeBcial Iaterest in BorroMer. If alt or any part of the Property or any interest in it is sold or transferrod (or if a bene5cial interest in Bonower is sold or transferred and 8orrower is not a natural person) without Lender's prior written consant, t.ender may~ at its option, require immodiate payment in full of all sums socured by this Socurity Instrument. Howeva. thia option shall not be eaercisod by I.ender if exercise is prohibited by f~deral law as of the date of this Security Iastrumrnt. If Lenda exercisea this option, Lrnda shall give 8onower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the n~ is deGvered or mailai within which Bonower must pay all sums securod by i this Security Instnument. If Borcower fiils to paiy these suma prior to the expiration of this period, Lender may invoke any i remedics permitted by this Socurity Instruma~t without further notice or demand on Borrower. 18. Borwwer'~ Rigkt to IteG~tate. If Bonowec mats certain conditions, Borrower shall have the right to have enforctmrnt of this Security Instrument diacAr~tinued at any time prior to the earlier of: (a) S days (or such other period as sppGcable law may specify for reinstatana~t) bdore sale of the Property pursuant to any power of sale contained in this Security Instrument; or (b) entry of a judg~na~t rnforcing this Security Instrumrnt. Those conditions are that Borcower: (a) psys Lender all sums ~hicb thea would be due under this Security Instrument and the Note hsd no a~cceleration occunod; (b) curea any ddault of any otha oovenants or agraments; (c) pays all expenses incurrod in enforcing this Security Instrument, includins, but not Ga~ited to, raaonable attorneys' fas; and (d) takes such action as Lender may reasonably roquire w asaure tluit the liea of this Security Instrumrnt~ Lender's rights in the Property and Borrower's obligation to pay the sums aecured by this Socurity Instrummt shsll continue unchangod. Upon reinstAtement by Bocrower, this Socurity Instrument and the obliaations securod hereby shall remain fully eQ'ective as if no accelcration had occurrod. However, this right to ranstate ahalf not apply in the case of ucxleration under paragraphs 13 or 17. k oQ. . aooK 54i ~~E 942 . ~~.~.tiF.__... .-=~-i"* :~•TZ"S.a~'. . , .~.._.,,-9.-