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Home My WebLink About0972 , II Lender requi~ad mortgage +nswance as a cond~tion ot makingihe Ioan secured by this Securiy Instrum t, Barower shap , pay the premiums required lo mainlain Ihe inswaric8 in eHect uM~ such time ~s lhe ~equNement for th~ lnsura~~ce lermina~es in ~ • accordanCe with Borrower's artd Lender's written agreemenl or appiicabte law. 4 A. Insp~Otbn. Lender or its age~t may make teasona~te entries upon and inspections d the Property. l.ender shall give ~ Barower notice ai the time of or prior to an inspection speciying reasonabte cause tor the inspeciion. Cond~mt?atian. The proceeds of any awa~d or claim lor dameges, direct or cansequential, in connection with a?ry corxiemnation or olher teking of airy pa?t ol the Property, ~(or conveyance in lieu ot oondemnation, arehereby assigned and shall be paid to lender. In lhe event ot a totat taking of the Property, the proceeds shatl be apptied to the sums secured by this Secu~iy Instrument, ~ whether ar not then due, with any sxcess paid to Borrowe?. In the event of a pahial taking oi ihe Properry, uNess Barower and lender dherwise ag~ee in writing, the sums secured by this Securiry Inst~ument shal! be reduced by the amount of the proceeds ~ multiplisd by the (ollowing fracl(on: (a) the tdal amouM of the sums secu?ed immediatey betore the taking, divided by (b) the tair market value of the Property immediately before the taking. Any balance shalt be paid to Borrower. ~ Ii the Property is abandoned by Borrower, ot if, after notice by Lender to Bonower that the condemnor ofters to make an award or seltle a claim to~ damages. Borrower fails to respond to Lender within 30 days atier the date the notice is given. Lender is authorized to collect ~and apply the proceeds. at its option, either to restaation a repair of the Property or to the sums secured by this Security tnstrument, whether or not then due. Unt@ss ~ende~ and Borrower otherwise agree in writing, any appticalion of proceeds to principal shall not extend or postpone IAe due date of the moMhy paymenls refer~ed to in paragraphs 1 and 2 to change the amount o( such payments. 10. Borrow~r Not RN~s~~ Fo~aranw 8r L~ndu Not a WaN~r. Extension of the time tor payment os moditication ot amort't7,~tiQn of the sums secured by this Security Instrument granted by Lender to any successa in interest of 8orrower shall not . operate to r'elease the liability ot Rhe original Borrower or Barower's successors in interest. Lender shal! not be required to commence proc8edings aga9ns! any successor in interest or ~etuse to extend time tor paymer~i w otherv?~ise modiry amortization ol the sums secured by ihis Securiry tnstrument by reasan of any demand made by the original Barower or 8orrowe~'s successors in interest. Any torbearance by Lender in exerc+sing any ~ght or remt~iy shall not be a waivar of or preclude the ex~cise ol arry right or remedy. . , 11. Suce~ssors ~nd AsN~ns Bount~ Jolnt ~nd SwKa! llaWlit~r; Co-sl~nKS. The covenanls and agreements of this Security InstrumeM shall bind and benefit the suGCess~rs and assigns ot Lender and Borrower, subjec! b ihe provisions of paragraph 17. Borrower's Covenants and agreements shall be joint and several. Any Borrower who co-signs this Security . Inst~ument but does not execute the Note: (a) is co-signing this Securiry Instrument ony to mo~gage. grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is nd personally obligaled to pay ihe sums secured by this Securiy Instrument; and (c) agrees that Lender and any other Barower may agr~ to extend, modity, forbear ar make any accommodations with regard to the terms of this Securiry Instrument or the Note without that Borrowe~ s consent. 1Z. Loan Charq~s. It the loan secured by this Security Instrument is subjed io a law which sets maximum loan charges, and thai law is tinalty interpreted so that the interest or other loan charges coileGed or to be collected in connection with the loan exceed the permilted limits, ihen; ( a) any such loan charge shall be reduced by the amount necessary to reduce fhe charge tothe permitted limit; and (b) any sums a!ready collected trom Borrower which exceeded permitted limits wi!! be refunded to Borrower. lender may choose to makethis refund by reducingthe principal owed undsr ihe Noteor by making a d'+rect payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepaymen! charge under the Note. ~ - 13. L~~lflatlon AH~cNn~ l~ndw's Rt~hb. ~ tf enactment ar expiration oi applicable laws has the effed of rende~ing any . ' provision of the Note or this Security Instrument unehlorceaWe accord+ng to i1s terms. Lender, at its option, may requue immediate Payment in tull oi all sums secured by this Securiiy lnstrumenl and may imoke any remedies permilted by paragraph 19. If Lender exercises this option, Lender shall take ihe steps specified in the second paragraph of paragraph 17. 14. NoNoN. Arry notice to Bcxrower provided for in this Security Instrument shall be given by delivering it a by mailing it by first class mail unless applicable law requires use ot another meihod. The notice shall be directed tothe Property Address or any other address Borrower designates by notice to Lender. Amr notice to Lender shaN be given by (irst class mail to lender's address stated herein or any other address Lender designates by notice to Bonower. Any notice provided for in this Securiiy Instrument shall be deemed to have been given to Borrower or Lender when $iven as provided in this parag~aph. 15. GovKnln~ Law; SevKaMlity. This Security lnstrument shall be governed by federal law and the law of the jurisdiction in which the Praperty is located. ln the event that arry provision or clause of this Security Instrument or the Note conflids with appticable law, such conNict shal! no! affeG other provisions of thi~ Security Inst~ument or tt?e Note which can be given effect wit~out the conilicting provision. To this end the p~ovisions ot this Security Instrument and the Note are declared to be severable. 18. Borrorrer's Copy. Borrawer shall be given one conlormed copy af the Note and of this Security Instrume~t. 1~. Transf~r ot tht Property or a Benetidd IMKat M Bororrer. If all or any part ot the Property or any interest in it is sold or transterred (or'rf a beneficial interest in Borrower is sold or tr2uisferred and Borrower is rot a natural person) wiihoui lender's priw written consent, Lender may, at ds oplion, require immediate payment in h?N ot all sums secured by this Security Instrumenl. However, this option shall not be exercised by ~ender if exercise is prohibited by federal law as ot the date oi this Security Instrument. tf Lender exercises this opiion, Lender shall g~ve Borrower notice of~acce!eration. The notice shall provide a period of not tess than 30 days hom the date the notice is delivered or mailed wilhin which 8orrower must pay aIl sums secured by this Security lnstrument. If Sorrower tails to pay these sums prior tothe expiration of this period, lender may invoke any remedies permitted by Ihis Securiry Instrument without turther notice w demand on Borrower. 18. Borrowe~s RIQhi to RNnstNe. It Borrower meets certain condrtions. Borrower shail have the right to have enforcement of this Security Instrument discor~inued at any time prior tothe eariier af: (a) 5 days (or such other period as appl;cable taw may specify tor reinstatement) before sale of Ihe Property pursuant to any power ot sale centair.ed in this Security Instrument: or (b) entry of a judgment enforcing this Security Instrument. Thosecon~tions are ihat 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 defautl ot any other covenants or agreemenis; (c) pays al! expenses incurred in enforcing this Securdy Insirument, including, but naR limited to, reasonable attaney's fees: and (c~ takes such action as Lende~r may reasonably require to assure that the fien oi this Security Instrument, Lender's rights in the Property and Borrower's obligalion to pay the sums secured by this Security Instrument shatl ; continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain tuty etlective as 'rf no acceleration had occurred. However, this right to reinstate shatt not appty in the case ot acceleration under paragraphs 13 or 17. ~ R 5~1 p~~ 9?~ 600K ~?e~w,.ado~+ a,iw e4 r,,.y a w.e aea2p p« sw s~ ~~eoQ1 vc ~..,,t --~~_..m.....~...._..__.-_---- - • ~ ~ _ _