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Home My WebLink About0962 ` • , ~ ~ It Lender rayui~ed mortgage inswance es a condition of mak+ng the loan secured by Ihis Security Inst~urh ~ ~bwer sha!1;' } pey the premlums required to rt?aintein tho inStxanae in eHed untd such lime as Ihe requ~ement for the insur~~inates in` ~ accordanCe with 8orrower's and Lender's w?itten agreemenl or appliCable law. imp~cibn. Lender a its egent may make reasonable ent~ies upon and inspectio~ d the Property. Lender shall give Borrowe? noiice al lhe time of or prior to an ~spedian spacitying reasonable cause for the inspectbn. ;-TjY~ Cond~mna~lon. The proceeds of any award a ciaim for damages, dired or consequentiai, in connection with amr ~ condemnation or other taking ot any pa~t ot Ihe Property, or tor Corneyai~ophl lieu ot condemnation, are hereby assigned and sha~t be paid to Lender. In ihe event ot a total taking ot the Property, the proCee¢s shaU be applied to the sums secured by this Securiy Insirume~t, ~J-~~ whether or not then due, with any excess {~aid to Bonouver. IA 1he ever~ oi e partial taking of the Property, uNess 6arower and Lender dherwise agree tn writing, the sums secured by lhis Security Inst~ument shatl be reduoed by the amounl uf the proceeds ``'a muttipl+ed by ihs loUowing iraclion: (a) ths tdal amouM of Ihe sums secu~ed immediately before the taking, divided by (b) the fair market value ol lhe Property immedialely before the taking. Any balance shall be paid to 8arower. - If the Propery is abandoned by 8orrower, or if, after notice by Lender to 6o?rower that the condemnor oNers to make an award or settle a claim for damages, Borrowe~ faits to respond to Le~der within 30 days after the date the notice is given, Lender is ~ f authorized to collect and appy the p~oceeds, at its option, either to restaalion or repair of the Property or to Ihe sums secured by ~ this Security Instrument, whether or not then due. Untess Le~der snd 8onowet otherwise agree in writing, arry application of proceeds to principai sha~l not extend or poslpone 1he due date ot the moMMy payments referred to in paragraphs 1 and 2 to change the amount ot such payments. 1Q BonaNrar Not R~Nas~ FQ!'~esranr.~ 8y l~nd~r Not ~ WaWor. Extension of the time ior payment or mod(ication ~ of amorti~ation ot the sums sec;u~ed qy ttdsSecurity Instrument granted by Lender io any successa in interest of Borrower sha~~ not ' operate to release the liability oi ihe aiginal Borrower a Bcxrower's successas in inle~est. Lender shaU not be requireci to ? commence proceedings against any successor in interest or refuse to extend time tor payment or d hervvise modify amartization of Ihe sums secured by this Secur~y Instrument by reason of any demandmade by the ari~inat Bor~ower or Borrower's successas in interest. Any torbearance by Lender in exercising any right or remedy shall not be a waiver otor preclude the exercise of any right or = ~emedy. . -~Y; 11. Succ~son andAssl~eta Boun~k JolM snd Sw~rM Lld~tllt~?; Casl~nKS. 7he oovenants and agreements ol this Security Mstrument shall bind and benefit ih+e successcxs and assigns of Lender and Borrowe[, subject to the provisioru of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any 6arower who co-s~gns this Securiry Instrument bul does not execute lhe Note: (a) is co-sig~ing this SecurAy.l~slrume~t aNy to mortgage, grant and convey that Borrower's interest in the P~operty under the terms o( titis Security Instrumeni; (b) is not personaly obligated to pay the sums secured by this Security lnstrume~t; and (c) agrees Iha1 Lender and any other Borrow+er may agree to extend. modily. fabear or . make any accommodations with regard lo the terms oi this Security Instrument or ihe Note without !ha! Barower's consent. _ 1Z. Laan Ch~~p. It the ioan secured by tttis Secur'dy Insttameni is subjed to a law which sets maximum ban charges. and that taw is finally interpreted so thal the interest or olher loan charQes colleded or to be collected in connection with the lo~ ~ exceed the permitted limits, ihen: (a) any such loan charge shall be ~educed by the amount necessary to !educe the chargetothe permiried limil; and (b) ar~y sums already oollected trom Borrower which exceeded permitted limits will be refunded b Barower. - Lenciet may choose to make this refund by reducing the prinapat owed under the Note or by making a dired payment to 6orrower. li . a retund reduces principat, the reductbn wifl be treated as a partial prepayment without any prepayment charge under the Note. 13. L~blatlon Afl~tln~ L~ndu"s Rl~hb. If enactment or expiration ot applicabte taws has the effed of rencfe~ing any provision of the Note ar this Security Instrument unenforceabte acoord~ng to its terms, Lender, at its o~tion, may requi~e ~mmediate payment in full of all sums secured by this Security Instrument and may imoke any remedies p~mitted by parag~aph 19. If Lender ~ exercises this option, Lender shall take the steps specified in the second paragraph of paragraph 17. 14. Notioq. Any notit;e to Borrower p~ovided for in this Security InstrumeM shall be given by delivering it a by mailing it by first class mail unless applicable law requires use of another method. The notioe shall be d~rected tothe Property Address or any other address Borrower designates by notice to Lender. Any ndice to Lender shall be given by first ctass mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided (or ~ this Security instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 1S. QovKMn~ lsw 8~vuablllty. This Security lnstrument shaN be governed by federal. law and the law of the jurisdiction in which the Property is bcated. tn the event that arry provisionor etauseof ihis Security Instrumeni or the Note conflids wilh applicaWe taw, such coMtict shatl not affed dher pravisions ot lhis Security Instrumenl or the Note which can be given ef(ect without the canflid+ng provision. To this endlhe provisions of this Security Instrument and the Note are declared to be severable. 1d. @ortowM's Copy. Barrn~ver shall be given one contormed copy of the Note and oi this Security Instrument. 17. Transfer af the Property or a B~n~ildal IntuMt M BorowK. If al1 or any part of the Property or any interest in a is sold or transferred (or if a beneticiat interest in Borrower is sold or lransferred and Barower is not a natural person) without lender's prior written consent, Lender may, at As option, require immediale payment in full of all sums secured by this Securiry Instrument. However, this opiion shall not be exe~cised by Lende~ ii exercise is prohibited by federat taw as of the date of this Security Instrument. If Lender exercises ihis option, Lender shall give 8orrower notice of acceleration. The sotice sha11 provide a period of not less than 30 days irom the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. lf Borrower tails ta pay these sums prior to the expiration oi this period, Lender may invoke any remedies permitted by this Security Insirument wilhout further notice or demand on Borrower. 18. 8orrow~t's Rlpht to RNnstNf. N Borrower meets ce~tain oond"+tions. Borrowet shall have the right to have enforcement oi this Security Instrume~t discor~in~ed al any time priar tothe earlier ot: (a) 5 days (or such other period as appficaWe Iaw may speci(y tor reinstatement) before sate of the Property pursuant tp any power ot sals oontained in this Security Insirument; _ or (b) enlry ot a judgmenl eniorang Ihis Security lnstrument. Those condtior?s are that Borrower: (a) pays Lender al! sums which therl would be due under fhis Security Instrument and the Note had na acceleration occurred: (b} cures any default ot any dhe~ covenants or agreements:.(c) pays all expenses incu~red in enforang ihis Security Instrume~tt, induding, but nd limited to, i reasonable attomey'g fees: aRd (cq takes such action as Lender may reasonaby requ9re to assure that the lien of tt~s Security ' Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security lnstrument shati f continue unchanged. Upon reinslatement by Borrower, this Security Insttumsnt and the oWigations secured hereby sha0 remain i futy eifective as "rf no acceleration had occurred. However, this right to reinslate shall not appty in the case oi acceteration under paragraphs 13 or 17. ~ BOOK ~f'~V PACE Pr«~o~,..a~w+ a xi a~ ~+.r w w.e a~aap ~ a.c e+ aeo~ vc r , o _ _ ~ ~ , , . - •--.r---~-- - -