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Home My WebLink About0981 . . ~ . ~ ' ~ ' • i ~ ~ ~ i If Lend~ required mortgage insurance as u conditian of mak3ng the loan securod by this Security Instrument, Borruwer shatt p~y the premiums required to mainiai~ the insurance in etfect uniil such time as the requirement for thc i insurance termj~,ates in accordance with Borrower's and Lender's written agreement or applicabl~ law. i S. ~ectioo. Lender or its agent may make reasonabte ~ntries upon and inspoctions of the Property. Lender ' shall give BQ~rower notice at the time of or prior to an inspection sp~cifying reasonable cause tor the inspoction. ~ 9, 1Condemnation. The proceeds of any award or claim for damages, direct or consaquential, in connection with t any condemnation or other taking of any part of the Pcoperty, or for conveyance in lieu of coademnation, are hereby i assigned and shal! be paid to I.ender. ~ - ln the eveRt of a total taking of the Propecty, the procceds shaU bc applied~to the sums socurod by this Socurity Instrument~ wliether or nat thcn due, with any excess paid to Borrower. In the ~vent of s panial taicing of the Property. unless Borrower and Lender otherwise agree in writing, the sums secured by this S~curity Instrument shall be reduced by the amount of the proceeds multipliod by the following fraction: (a) the total amount of the sums secured immediately ~ before the taking= divideci by (b) the fair market value of the Property immodiateiy before the taking. Any balance shall be ~ paid to Borrower. ~ If the Property is abandonod by Borrower~ or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages~ Borrower faiis to rexpond to Lender within 30 days aRer the date the notice is ~ given, Lender is authorized to collect and apply {he pracoeds, at its option, either ta restoration or repair of the Property or to the sums secured by this Sa.urity Instrument. whether or not then due. Unless Lender and Borc~wer otherwise agrce in writing~ any appGcation of proceeds to principal shall not extend or postpone the due datc of the monthly payments refene~ to in paragraphs 1 and 2 or change the amount of such payments. 10. BoROr~er Not Released; Forbear~u~ce By I.eader Not a Wal~er. Ext~nsion of the time for payment or modification of amortization of the sums socurod by this Sacurity Instrument granted by I..end~r to any successar in interest of Bonower shall not operat~ to release the liability of'the original Borrower or Borrower's succe~sors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to eatend time for ~ payment or atherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Bonower or Bonower's successors in interest. Any forbe~rance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. - ll. Successors and AssIgqs Bound; Jolnt and Se~enl I.iability; Co-stgners. The covenants and agroements of ihis Security Instrument shall bind and benefit the successots and assigns of Lender and Bonower. subject to the provisions of paragraph 17. Borrower's covenants and agrecments shall be joint and several. Any Borrower who co-signs this Socurity Instrument but does not execute the Note: (a) is co-signing this Secunity Instrument only to mortgage, grant and convey that Borcower's interest in the Property undcr the terms of this Sxurity lastrument; (b) is not personally obligated to pay the sums se~cured by this Security Instrument; and (c) agrces that Lender and any other Borrower may agree to extr.~n~1. modify, forbear ~r make any accommodations with regard to the terms of this Security Instrument or the Na`:e w~Yhout that Bonower's consent. ~ 12. Loaa C6arges. If the loan secured b~ this Security Instrument is subjtct to a!aw which sets maxir.~am lo~~n Y' charges. and that taw is finally interpreted so that the interest or othtr loan charges collected or to be caf}.~eted in connection with the loan exceed ihe permitted limits, then: (a) any such loan charge shall be reduced by the amount ` necessary to reduce the eharge to the permittod limit; and (b) any sums already coilected from Borrower which ezceedod ' permitted limits will be refunded to 8orrower. Lender may choose to make this refund by reducing the principal owed _ under the Note or by making a direct payment to Bonower. If a refund reduces principal. the reduction will be treated as a ~ partial prepayment without any prepayment charge under the Note. ~ 13. Le~slstioe AfTecting Lender's Rjghts. If enactment or eapiration of applicable laws has the effect of rendering any provision of the Note or this Security Instrument unenforceable according to its terms, I,ender, at its option. ~ may require immediate payment in full of all sums secured by this Security Instrument and may invoke an; re;uedies permitted by paragraph l9. If Lender exercises this option, L.ender shaU take the steps speci6ed in the second paragraph of paragraph 17. ~ i4. i•iuiit-~. .y~~y .-~oti:,~ ta uon:,;:rr provi~~ for in ihis ~t~!~tv Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the z Property Address or any other address Borrower designates by notice to Lender. Any notice to I,ender shatl be given by ~ first class mail to Lender's address stated herein or any other address Lender designates by noticE to Banower. Any notice ' proviaed for in this Security Instrument shaU be deemed to have been given to Borrower or I.ender when given as provided - in this paragraph. _ 15. Coveraiag Law; Sererability. This Security Instrument shall be governed by federal law and the law of the E jurisdiction in which the P:operty is located. In the event that any provision or clause of this Security In~trumeni or the ? Note conflicts with applicable 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 of 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 Beneficial Interest ie Borrower, If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a naturat perwn) without Lender's prior written consent, Lender may, at its option, r~uire immediate payment in tal! of a)1 sums secured by this Security Instrument. However, this option shal! not be exercised by L.ender if exercise is prohibited by federal law as af the date of this Security Instrument. lf Ixnder ezercises this opicon, I,ender shall give Borrower notiee of acceleration. The notice shall provide a period of not less t?:an 30 uays from the date the notice is delivered or mailed within which Borruwe.* must pay ati sums se:,~red by this Security Instrument. If Borrower fails to pay these sums prior to the expiration ~f this period, I,ender may invoke any reme~ies permitted ~y thSs Security InstrumPnt withaut further notice or demand on Bor; ~wer. 18. Borrower's Rigtit to Reinstste. If Borrower meets certain conditions, Borrower shal) have the right to bave ~ enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any p~wer of sale contained in this Se:.urity Instrurrent; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums w6ich then would be due under this Security Instrument and the Note had no acceleration occurred; (b) cures any default nf ar+y other eovenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as L.ender may reasonably require to assure that the lien of this Security tnstrument. Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shalt continue unchanged. Upon reinstatement by 8arrower, this Security Instrument and the obligations secured hereby shall remain fully effective as itno accel~ration had occurred. Nowever, this right to seinstate shall not apply in the rase of acceleration under paragraphs 13 or 17. so~~ 552 PAGE 980 . _ . _ . _ _ ~ ~ s - - _ _ _