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Home My WebLink About0936 If Lend~r ~equirtd mortgage insurance as a condition of making the toan secured by this Security Instrument~ Borrower shalt pay the premiums required to maintain the iasurance in eRect until such time as the requiremcnt for the insurance terminaies in acrordanoe with Borrowet'a and I.ender's written agrament or applicable law. 8. laspection. Lender or ita agent may make reasonabie entries upon and inspectioos of the Property. Lender shali give Bonower notice at the time af or prior to an inspection specifying reasonable cause for the inspection. 9. Condemnation. The procads of any awa~d or claim for damages. direct or consoquential, in connertiort with any condemnation or other taking.of any part of the Property. or ~for conveyance in licu of condemnation. are hereby assignod artd shal) !x paid to I,ender. In the event of a total taking of the Propeny~ the procceds shall be applied to the sums secured by this Socurity Instrttment. whether or not the~ due, with any excess paid to 8orrower. In th~ event of a pattial taking of the Praperty. ~ unless Borrower and I.ender otherwise agrce in writing, the sums socured by this Security Instrumcnt shall be rcduced by the amount of the proceods muttiplied by the folfowing fraction: (a) tht total amount of the sums securod immediately before-the taking, divided by (b) the fair market value oPthe Property immediately betore the taking. Any balance shall be paid to Borrower. lf the Property is abandoned by Borrawer, or if~ aRer notice by I.ender to ~orrower ihat the candemnor oflers to make an award o,r settle a claim for damages. Bonower fails to respond to Lender within 30 days after the datc the notice is given~ I.ender is suthoeizod to coltect and apply thc procceds, at its option, eithcr to ratoration or repair of the Property or to the sums securrd by ihis Security Instrument~ whether or not then due. Unlcss Lender and Bonower othernrise ag~te in writing~ any application ef proceeds to principal shall not extend or postpone the due date oP the monthly payments nfetted to in paragraphs 1 and 2 or change the amount of sucfi payments: 10. Borrower Not Relea~l; Forbatr~nce 8y I.ender Not a Waiver. Ext~nsian of, the time for payment or modification of amonization of the sums socurod by this Secarity Insi~urr~ent granted by I.ender to any successor in interest ot' Horrower sha11 not operata to relrase !he liability of the original Borrower or Borrower's successors in interest. - Ixnder shall not be required ~o ~ommence procadings against any successor in interest or refuse to extend time tor paymrnt or~ otherwisc modify amonization of the sums secured by this Security [nstrument by reason of any demand made by the otiginal Bonower or Bonower's successors in inte~st. Any forbearance by Lender in exercising any right or remedy shall nat be a waiver of or prectude the exercise of any right or remady. ~ Il. Succeseors and Asatgns Bound; Jolnt and Serersl Liability; Casigners. The covenants and agraments of , this Security Instrument shall bind and benefit the successors and assigns of I.ender and Borrowe~, subject to the provisions of paragraph 17. Horrower's rnvenants and agraments shall b~ joint and several. Any Borrower who casigns this Socurity Instrument but does not execute the Note: (a) is co-signing this Security instrument anly to mortgage, grant and convey that Borrower's interest in the Property under th~ terms of this Security Instrument; (b) is noi perscmally obllgataf to pay ~ the sums securod by this Security Instrumont; and (c) agrces that L.endcr and any other Borrower may ag~ce to extend~ m.odify~ forbear or make any accommodations with regard to the terms of this Security Instrument or ihe Note without that Bonower'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 interprettd so that the interest or other loan charges collect~ or to be collectcd in connection with the foan excad the p~rmittod limits, then: (a) any such loan charge shall be reduced by the amount noassary to r~duce the charge to the permitted limit; and (b) any sums already coUected from Borrower which exceeded permitted limits wi!! be refunded to Borrower. I.ender may choose to make this refund by reducing the principal owed , under the Note or by making a diroc~ payment to 8orrower. If a refund reduces principai, the reduction witt be treated as a partial prepayment without any prepayment charge under the Note. 23. I.egi:ltition AtCeet[ng I.ender's Rlghta. If enactment or eapiration of applicable laws has the ctTect of renderin~ any provision of the Note or this Security Instrument unenforceable according to its terms, I.ender. at its option, may roquire immediate payment in fuli of alt sums secured by this Socurity Instrument and may invoke any remedies permitted by paragraph 19. lf Lender exercisa this option, Lender shalt take the steps specified in the second paragraph of paragraph 17. I4. Notices. Any notice to Bonower provided for in ihis Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law roquires use of another method. The notice shall be direct~d to the Property Address or any other address Bonower designates by notice to L.ender. Any notice to Lender shall be given by ~ first class mail to Lender's ad~ress stated herein or any other address L.ender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be dcemcd to have been given to Borrower or Lender when given as provided in this paragraph. ~ . 1S. Govprnlag I.a~r; Se~etabJlity. 'This Security Instrument shall be governed by federal law and the law of the jurisdiction in which tht~Property is located. In the event that any provision or clause of this Socurity Instrument or the Note conflicts with applicable law; such conflict shall not aPfect other provisions af this Security Instrument or the Note which can be given efl'tct without the conflicting provision. To this end the provisions of this Security Instrument and the Note are doclared to be sevcrabte. l6. 8orrawe~'a Capy. Borrower shafl be given one conformed copy of the Note and of this Security Instrument. ' l7. Tnu~s[er of the Property or a Beaeticial Interest in Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in 8orrower is sold or transferred and Borrower is not a natural person) a+ithout L,ender's prior written consent~ Ltnder may. at its option~ require immediate payment in ful! of al! sums secured by this Socurity Instrument. However. this option shall no? be eaercised by Lender if exercise is prohibited by federal law as of the date of this Sxurity InsWmeni. ~ If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less tban 30 days from the date the notia is delivered or mailed within which Sorrower must pay all sums secured by this Security Instrument. If Borrowe~ fails to pay these sums prior to the expiration of this period~ Lender may invoke any remedies permitted by this Security Instcument without further natice or demand or~ Borrower. 18. BomoNer's Rigbt to Ret+utate. If Borrower mats csrtain conditians, Borrower shall have th~ right to have enforcement of this Sscurity Instrument discontinued at any time prior to the earlier of: (a) S days (or such other period as applicabie lav~ may spec+fy for rtinstatement) betore sale of the Property pursusnt to eny power of sate contained in this Security instrument; or (b) cntry of a judgmtnt enforcing this Security Instrument. Tfiose conditions are that 8orrower: - (a) pays Lender al! sums w6ieh then would be due under this Security Instrumrnt and the Notr had no acceleration occurred; (b) cures any dcfault of any other covenants or agraments; (c) pays ali expenus incurcod in enforcing this Secarity Instrumeat, including, but not limitod to, reasonable attorneys' fas; and (d) takes such action aa I.ender may reawnably require to assure that the lien of this Security Instrument, Lender's ~ights in the ProperEy and Borrower's obligation to pay the sums seeursd by this Security Instrument shall continue unchanged. Upcm rtinstatement by Borrower~ this Security Instrument and the obligations sacured hereby shslf remain fl~lly effective as if no accxleration had , occunad. However, this right to reinatste shali not sPpiy irr the case of a«;eltration under paragraphs 13 or 17. - 800K 5~~ PAGE ~J~ . Yw_~_. _ _ , . - _ _ _ ~ i~".'_,__. - . . _ . _ . . - - - _ +