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Home My WebLink About0932 • • 1 i s If Lender rcquired mortgago insurance as a condition of making the loan secured by~ this Security Instrument, ; Borrower shall pay the premiums required to maintain thc insurance in eflect until such time as the requirement for the ~ insurance terminates in accordance with Borrowe~'s and L.ender's written agreement or applicable law. ; 8. I~speetion. Lender ar its agent may make reasonable entries upon and inspections ot the Aroperty. Lender ~ shall give Borrower notice at ihe time of or prior to an inspection specifying reasonable cause for the inspection. 9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with - any condemnation or other taking of any part of the Propeny. or for conveyance in lieu of condemnation, are hereby ~ assianed and shall be paid to Lender. [n ihe event ot a totai taking of the Propert;~, the proceeds shal! be applied to the sums secured by this Securi~y ; Instrument, whether or not then duc, with any excess paid to Aorrower. In the event of a partial taking of the Property, unless Borrower and Lender atherwise agree in writing, the sums secured by this Security Instrument shail be reduced by the amount of the proceeds multiplied by the fbllowing fraction: (a) the tota! amount of the sums secured immediately ~ before the taking, dividcd by (b) the fair market value of the Property immediatety before the taking. Any balance shall be ' paid to Horrower. a If the Property is abandoned by Borrower, or if, aller notice by Lender to Borrower that the rondemnor ofTers to ? make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days aRer the date the notice is given, Lender is authorized to collect and apply the proceeds, 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 proe~eeds to principal shall not ex~end or postpone the due date of the monthly payments referreci to in paragraphs 1 and 2 or change the amaunt of such payments. 10. Borrower Not Released; Forbearsnce By I.ender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granteci b~ Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. f Lender shall not be required to cammence proceedings against any successor in interest or refuse to extend time for t^- ^?~,p~,,,;~P .n~~f„ A.?,hrr„Ation of the sums secured by this Security Instrument by reason of any demand made }iaJi:a~^s v - ~ - by the original Borrower 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 eaercise of any right or remedy. _ 11. Successors tutd Assigns Bouad; Joint nnd Seversl Liability; Co-signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject !o the provisions of paragraph 17. Sorrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not ezecute the Note: (a) is co-signing this Security instrument only to mongage, grant and convey that Borcower's interest in the Property under the terms of this Security Instrument; (b) is not personally obiigated ta pay the sums secured by this Security lnstrument; and (c) agrees ihat 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 eonnection with the loan exceeci the permitted limits, then: (a) any such loan eharge shail be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from dorrower which exceeded permitted Iimits wifl be refunded to Borcower. Ixnder may choose to make this refund by reducing the principal owed under the Note or by making a direct 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. Legislation AfieeHng Lender's Rights. If enactment or expiration of appticabie laws has the effect c~f rendering any provision of the Note or this Security Instrument unentorceable according to its terms, Lender, a! its option, may require immediate payment in fult of all sums secured by lhis Security Instrument and may invoke any remedies permitted by paragraph 19_ 1f Lender exercises this option, Lender shall take the steps specified in the second paragraph of paragraph 17. 14. l~iotiees. Any notice ta Borrower provided for in this Security Instrument sfiall be given by deti~~ering it or by mailing it by first class mail unless appticable law requires use of another methaci. 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 by first class mail to I.ender's address stated herein or any other address Lender designates by notice to Borrow•er. 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. 15. Governing Law; Severability. This Security Instrument shall be governed by federat law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security lnstrument or the Note conflicts with applicable law, such conHict shall not afl'ect other provisions of this Security Instrument or the Note which can be given efTect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrorrer's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17, Transfer of the Property or a Beneficiai Inferest in Borrower. If a!1 or any part of the Yroperty or any interest in it is sold or transferred (or if a beneficia) interest in Borrower is sold or transferred and Borrower is not a natural I ~erson) without Lender's prior written consent, i.ender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by ~ federal !aw as of the date of this Security Instrument. If I,ender exercises this option, I.ender shall give Borrower notice of acceleration. ?he nntiee shal) provide a period I' of not tess than 30 days from the date ihe notice is delivered or mailed within which Borrower must pay all sums secured by ! this Security Instrumcnt. If Borrower fails to pay these sums prior to the expiration of this pcriod, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 18. Borrower's Rig6t to Reinstate. If E3orrower meets certain condiU~ns, Borrower shalt have the right to have enforcement of this Security Instrument discontinued at any time prior ta the earlier of: (a) S days (or such other period as applicabie law may specify for reinstatement? before sale of the 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: I (a) pays Lender all sums which then would be due under this Security Instrument and the Note had no acceleration oceurred; (b} cures any default of any other covenants or agreements; (c) pays all expenses ineurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lender's rights in the Property and Borrower's obligation to pay tht sums securM by this Security Instrument shall continue unchanged. Upon reinstatement by ~ Borrower~ this Security Instrument and the obligatians secured hereby shall remain fully ePtective as if no acceleration had i occuned. However, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or t 7. i ' BooK 5+~o ParE 930 • a- _ ~ _ x : ar-_