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Home My WebLink About0964 ~ ~ ~~?f. lf Lcnder required mortgagr insurance as a condition oP making the l~an cecured by this Securitv Instrument, ` Borrower shall pay the premiums required to maintain the insurance in effect until such time as the rcquirement for the insurance terminates in accordance with $orrower's and Lender's written agrament or applicable taw. 8, Inspection, Lender or its agent may make reasonable entries upon and inspcctions of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasanable cause for the inspection. 9, Condemnation. The procecds ot any award or claim for damages, direct or conuquential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of cortdemnation, are hereby assigncd and shall be paid to Lender. In the event of a total taking ot the Property, the proceeds shail be applied to the sums secured by this Security Instrument, whether or not then due, with any excas ~aid io Borrower. In the event of a partial taking of the Property, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) tho total amount of the sums secured immediately txfore the taking, divided by (b) the fair ma~ket value of the Property immcdiately before the taking. Any balance shall be ~as~ °:;ri If the Property is abandoncd by Bonower. or if, after not~ce by Lencier to Horrowcr t3~ai the condemnor otl'ers to make an award or settle a claim for damages. Borrower fails to respond to I.endcr within 30 days after the date the notice is given, Lender is authorized to collect and apply the proceeds. at its option, either to restoration o~ repair of the Property or to the sums secured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwiu agrce in writing, any application of proceeds to principal shall not extend or postpone the due dato of the monthly payments referred :o in paragraphs I and 2 or change the amount of such payments. 10. Bo~ruMer Not Released; Forbcarance By Lender Not a WaIrer. Extension of thc time for payment or modification oF amortization of the sums secuced by this Security Instrument granted by Lender to any successor in interest of Borrower shall not optrate to reltase the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to eatend time for payment or otherwise modify amonization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrawer's successors in interest. Any forbearance by Lender in eaercising any right or remedy shall not bc a waiver of oc preclude the exercise of any right or remedy. 11. Successors and Assigns Bound; Joint stnd Sereral Liabiltty; Casi~ers. The cov~nants and agreements of this Security Instrument shall bind and benefit the successors and assigns of L,ender and Borrower. subject to the provisions of paragraph 17. Bonower's covenants and agreements shal! be joint and several. Ariy Borrower who casigns this Security lnstrument but dces not execute the Note: (a) is casigning this Secur~ty Instrumeni anly to rncrtgage, grant and convey that Borrower's interrst in the Propeny under the terms of this Security Instrumenr (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any othtr Bottow~r may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Securiiy 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 interpretcd so that the interest or other loan charges collected or to be collected in connection with the loan exceed the permitted limits, then: (a) any such loan charge shall lx reduced by the amount necessary to reduce the charge to the permittcd timit; and (b) any sums already collected from 8orrower which exceeded permitted timits wilt be rtfunded to Borrower. Lender may choose to make this refund b~ reducing the principai owed under the Note or by making a direct payment to Aonower. If a refund rtduces principal, the reduction wiil be treated as a partial prepayment without any prepayment charge under the Note. 13. Legislation Affecting Lender's Rights. If enactmcnt or expiration of apPlicable laws has the effect of rendering any provision of the Note or this Security Instrument unenforceabte according t6 its terms, Lender, at its option, may require immediate payment in fuil of all sums secured by this Stcurity Instrument and may invoke any remedies permitted by paragraph 19. If Lender exe: ciscs this option, Lender shall take the steps specified in the second paragraRh of paragraph 17. 14. rotices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by , mailing it by first class maii untess applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borcower dcsignates by notice to Lender. Any notice to Lender shall be given by first class mall ro Lender's address stated herein or any other ad~ress Lender d~signates by notice to Borrower. An~• not~ce ~ pro~~ided for ~n this Security lnstrument shall be deemed to have been given to Borrower or Lender when given as pro~~ided ~ ~n this paragraph. i 15. Governing I.aw; Severability. This Security Instrument sha(1 be governed by federat law and the law of the ' }urisdiction in which the Property is (ocated. in the event that any provision or clause of this Security Insuument or the ~ ,tioce confticts w~th applicabie law, such conflict shall not afTect other provisions of this Securiry Instrument or the tiote wh;ch can be given effect without the conflicting provision. To this end the provisions of this Security lnstrument and the ~ .'~ote are declared to be severable. • 16. Borrower's Copy. BOrtower shall be given one contormed copy of tht Nott arsd of this Security Instrument. 1~. 'I'ransfcr of the P~aperty or a BentRcial Iaterat in Barrower, If atl ar. any part of thc Property or any C inter~st in it is sold or transferred (or i€~ beneRcial interest in Borrower is sold or transferred and Benower is not a natural I person) w~thout Lcrsder's prior written conunt. Lender may, at its option, require immtdiate ~sayment in full of all sums ~ secured by this Security Instrument. Howe~er, this option shall not be eaercised by Lrnder if exercise is prohib~t~d by federal law as of the da~e of this Stcurity Instrumrnt. If Lender exercisa this option, Lender shatl give Borrawtr notice otacceleration. The notice shall provide a period of not Irss than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permit«d by this Security Instrument without further notice or demand on Borrower. 18. Borrower's Right to Iteinatate. If Bonower meets certain conditions, Borrower shaU have the nght to havc enforcement of this Security Instrument discontinued at any time prior to tht earl~er of: (a) S days (or such athtr prriod as applicable (aw may specify for reinstatement) before sate of the Property putsuant to any power of sale contained in this Secunty instrument; or (b) entry of a judgment enforcing this Stcurity Instrument. Thox conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security instrument and the IYote had no acceleration occurred; (b) cures any default of any other covenants or agreements; (c) pays all e~penses incurred in enforcing this Secunty lnstrument, includi~g, but not limited to, reasonable attorneys' fees; and (d) ~akes such action as Lender may o reasor.ably require to assure that the tien of th~s Stcurity ]nstrument, L~nder's nghts ia the Property and Botrower's obl~gation to pay the sums secured by this Securiry Instrument shall con~inue unchanged. Upon reinstatement by Borrower, this Secunty Instrument and the obligations securrd hereby shall remain fufl~ effecnve as i( no arreleratio~ had occurred However, thu nght to re~nstate sha{1 not apply in the case of accrkration under raragr~ph, ~ nr 17. 800K PACf ~7Uv e~ r~~.. r.v__._.___= xc---~----~~.rr,t ~