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Home My WebLink About0926 ~ ~ If !_en~ier reyuired murtgage ins~rance as a c~nditiun uf making the loan secured by this Security Insirument, F3~~rro~~•er ~h.iil ~a}~ the pren~iums required tc~ maintain the insurance in ef~ect until such timr as the reyuirement fiu tl;c insurance terr.~ii~a~es in arcordanre ~~~ith I3or~o~ti~et's and l.ender's ~~~ritten agreenient or .~pplicable law. 8, Inspection, l.cnder or its agent ma~~ make reasonable entries u{x~n and inspe.ctions of the 1'rupert~~. Lender shall gi~~e I~urro~~•er notice at the time u~ or prior tc~ an inspeition specifying rcasonable cause for the inspectiun. 9. Condemnation. 'I'he prcxeeds oi'any a~~~ard ur claim fi~r damages, dire~t or consequential, in ~onnection ~~~ith any ro?zdemnation or ~~ther taking of an~~ part of the Pro~:erty, or for ronve~•ance in licu ~~f ccmdemnati~n, are hereby assignc~i and shall be paid to I.ender. In the e~~ent of a total taking of the Yroperty, the ~~roceeds shall he applird tu the sums secured b}' this Security ` Instrument, t~•hether or not then due, ~vith any excess paid to Borro~ver. ln the e~•ent af a partial taking of the Propcrty~, unless Borro~ver ancf Lender othenti~ise agree in writing, the sums secured by this Security Instrument shall t~ reduced by the amount af the prckeeds multiplied by the fcjlla~~~ing fraction: (a) the tatal amaunt c~f the sums secured immediately before the taking, divided by (b) the fair market value of the Yroperty immediatel~~ befi~re the taking. Any balanre s~all be paid to I3orrow~er. If the Propert~~ is abandoned by 13orro~~•er, or if, after nolice by Lencler to f3orrower that the r~~ndemnor ofTcrs to make an a~~arci ar settle a claim for damages, Borrower fails to res~nd to I.ender ~~~ithin 30 da~~s after the date the notice is gi~~en, Lender is authorized to callect and appl~~ the proceeds, at its aption, either to restoration c~r re~~air uf the Yro~c~ tp or to the sums secured by this Securiry Instrument, w•hether or not then due. , Unless Lender and Bo~row•er otherwise agree in writing, an~~ application of proceeds to principal shall not extend or post~une the due date of the monthl~• payments reierred ro in paragraphs 1 and 2 or change the amount of such pa}'ments. 10. Borron•er Not Released; Forbearance E3y I.ender Not a~~'aiver. Extension of the time for pa}~ment or modification of amortization oP the sums secured by this Securitp Instrument granted b~~ Lender to any successor in interest ~f Borroti~er shall not opc:rate ta release the liability of the ariginal Borrower or E3orrower's successors in interest. Lender shall not be required to commence .proceedings against any sucressor in interest ~~r refuse to extend time for payment or otherwise modify amortizatiun of the sums secured by this Seruritp Instrument by reason of any demand madc by the ariginal E3orrou•er or 13orrow~er's successors in interest. Any forbearanre b~~ Lender in exercising an~ ~ i~ht or remedy shall not be a w•aiver of or preclude ihe exercise of an~~ right or remedy. 11, Successors and Assigns Bound; Joint and Several I.iability; Co-signers. The covenaiits anci agreernents of this Security Instrument shall bind and benefit the sucressors and assigns of Lender and I3orrower, subject to the provisions of paragraph 17. I3orro~aer's co~~enants and agreements shall be joint and several. Any I3orrower who co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument anly to mortgage, grant and com•ey that Borrow•er's interest in the Propert~~ under the terms of this Security Instrument; (b) is not Ex:rsonall}~ obligated to pay the sums secured b~• this Security Instrument; and (c) agrees that Lender and any c~ther Borrower may agree to extend, modify, forbear or make an}~ accommodations ~vith regard !o the terms of this Security Instrument or the Note ~vithout that I3orrow~cr's consent. ' 12. Loan Charges. If the loan secured b}~ this Security Instrumcnt is subject to a law ~s~hich sets maximum loan charges, and that laK~ is finally interpreted so that the interest or other loan charges collected or to b,: collected in connection ~~~ith the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessar~• to reduce the charge to the permitted limit; and (b) any~ sums already collected fram I3orro~~~er which exceeded ~ permitted limits w~ill be refunded to Borrower. Lender may choose !o make this refund by reduring the principal o~~•ed under the Note or by rnaking a direct payment to BorroH•er. If a refund reduces principal, the reductioii will be treated as a partia! prepayment without an~~ prepayment charge under the Note. 13. I.egis{ation Affecting Lender's Rights. If enactment c~r expiratian of a~plicable laws has the elTect of rendering any provision of the Note or this Securit}• Instrument unenforceable acrording lo its terms, Lender, at its option, may require immediate payment in full of all sums secured b~• this Security Instrument and may in~•oke an~~ remedies permitted b}~ paragraph 19. If Lender exercises this option, I.ender shall take the steps sixrified in the second paragraph of paragraph l7. 14. ;'iotices. Any ne~tice to Borrow~er prrn~ided for in this Securit~~ Instrument shall be gi~•en b~• delivering it ~~r by mailing it b~• first class mail unless applicable iaH• reyuires use of another method. "I~he notice shall be directed t., the 'I Pro~erty Address or any other address f3orrc~~~•er designates by notice to Lender. An~~ notire to I.ender shall be given by first class mail to Lender's address stated herein ar any c~ther address Lender dcsignates b}' notire to I3orro~~~er. Any notice pro~•ided for in this Securit~• Instrument shall bc dcemed to ha~•e becn gi~~en tc~ I3orrc~~~•er or I_ender whcn given as pro~~ided in this paragraph. 15. Governing I.aw; Severabilit~•. "rhis Srcurit~• Instruntent shail he guverned b}• federa) laH• and thr law• ofhhe jurisdiction in which the Propert~• is located. In the e~~ent that an~~ ~ro~•isi~n or clause of this Security~ Insirument or the - Note conflicts with applicable la:v, such conflict shall nat afiect other pro~isions of this Security Instrument or the N~te w•hich can be gi~~en effect without the canflicting provision. To this end the provisions of this Seeurity Instrument and the Note are declared to be se~•erable. 16. BorroK~er's Copy. Borrower shall be gi~~en one con(ormed copy of the Note and of this Security Instrument. 17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Yroperty or ~ny interest in it is sold or transferred (or if a beneficial interesi in f3orro~~•er is sold or transferred and I3orrow'cr is not a natura( person) ~sithout Lender's prior written consent, Lender may~, at its option, require immediate pa}~ment in full of ali sums secured by this Security Instrument. How•e~•er, this opticro shall nor bc~ exercised by I.ender i~ exercise is prohibited by . federal la~~• as of the date of this Security Instrument. If Lender exercises this option, Lender shall give. F3orrower notice of acceleraticm. The n~tice shall pro~~ide a period of not less than 30 days from the date the notice is deiivered or mailed «•ithin which Borrower must pay all sums sccured by this Security Instrument. I1 ~3orrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted b}~ this Security Instrument without further notice or demand on Borrower_ 18. I3orrower's Right to Reir~state. If I3orrower meets certain conditicros, Borrower shall have ~he right to have enforcemcnt o~rhis Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicahle la«• may spec~fy for reinstatement) before sale of th~ Yroperty pursuant to any power of sale eontaine:l in this _ Security Instrumcnt; or (b) entry of a judgment enfo:c~ng this Security lnstrument. Those conditions are that Borrower: _ (a~ pays I.ender all sums ~~hich then wou~d be due under this Security Instrument :,~~u ~he Note had no acceteration c~ccurred; (bl cures an}~ default of any other c~venants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable aitorneys' fees; and (d) takes sucF~ action as Lender may r~asonably require to as~ure that the lien of this Security Instrument, Lender's rights in the Property and Borrower's obligatian to pay the sums sec~red by this Security Instrument shall cont~nue unchanged. Upan reinstatement by : BorroN~er, this Security instrument and the obligations secured hereby shal; remain fully efTective as if no acceleration had - occurreci. Howe~~er, this right to reinstate shall not apply in the cas~ of acceleration under paragraphs 13 or 17. ~o~x 5fi9 P~~~ 9~~ _,_i- w _ . - . -