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Home My WebLink About0974 , 4 , • . ~ • ~ ~ • , , If Lendrr requircci nxxtg,ig~ insuranee as a canditi~n of ma~ing the loan secur~d by tl~~~ ~ecurity Instrument, l3~~rro~~~cr tihal) pa~ the premiums required t~~ maintain the insurance in efTect until such time ~s ti~~ ryuiremenl fi~r the in.urau~_e terniinates in acc~~rdance with I3carrower's and Lender's written agreemcnt or applirat~le law. R. Inspection. I.~iider or its agent may make reasonable entries u~n and inspections of 11~e Propert}•. l.ender ,hall gi~~r I3orro~~•~r notice at the time of or prior to an inspection sprcifying reasonable cause fi~r thc inspe~tion. 9. Condemnation. The pn~creds at~ any award ar claim for damages, direct or conseyuenti.il, in cc~nncction ~rith any cundemnation cir other taking af any part of the Propert}~. or for con~~eyance in lieu of condemnation, are hereby :+.tigned and shall be paid ro Lender. In the evcnt ~~T a total taking of the Property, the prcx;eeds shall be applied to the sums secured hy this Securiry In~trumcnt, ~~•hether or n~~t the~ due, with any excess paid to I3orrower. In the event of a partial taking of thc Nmpc:rty, ' unlcss E3orro~~~er and Lender othenvise agree in writing, the sums secured by ~his Security lnstr~ment shall be rcduced by tl~r amount of the proceeds multi~lied by the following fraction: (a) the total amount of'the sums secured immediately ~ hcfore Ihc Iaking, divided by (b) the fair markct value of the Propcrty immediately bePore the taking. Any balance shall be ~ paid to I3orroH•er. If the ProPerty is abandoned by Borrower, or if, aftcr notice b~~ Lender to Aorraa~er that the condemnor ofTers to make an a~vard or settle a claim for damages, E3orrower fails to respond to Lender within 30 days after the date the notice is gi~ en, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair oP the Property or to the sums secured by this Security Instrument, whether or not ihen due. • Unless Lender and I3orro~ser otherwise agree in writing, any application of prcxeeds to principa! shall not extend or ~ustpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change thc amount of such pay~ments. 10. Borrower \'ot Released; Forbearance Bv Lender Not a Waiver. Extension of the time for payment or mcxiihcation of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Qorrower shall not operate to release the liability of the origin:~l I3orrower or f3orrower's successors in interest. Lender shall not be required tu commence proceedings against any successor in interest or refuse to extend time (or pa}~ment or other~~~ise moclify amortization of the sums secured by this Security [~~strument by reason of any demand made h}~ the original ~3orro~~•er or 13orrower's successors in interest. Any forbearance by Lender in exercising any right or remedy ~ .hall not be a~~~aiver of or preclude the exercise of any right or remedy. ; 11. Successors and Assigns Bound; Joint and Several L.iability; Co•signers. 7'he covenants and agreements of ti~is Security Instrument shall bind and benefit the successors and assigns of Lender and Dorro~~•er, subject to the pro:~isions ~~f paragraph 17. Borro~ti•er's covenants and agreements shall be joint and se~eral. Any Borro~ver who co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and com~ey that Borro~cer's interest in the Property under the terms of this Security Ins~rumen~; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, nuxiify~, forbear or mahe any accommociations with regard to the terms of this Security Instrument or the Note ~ti~ithout that Borro~~~er'sconsent. ~ 12. I.oan Charges. If the loan secured by lhis Security Instrument is subject to a law which sets maximum I~an ~harges, and that law is finally interpreted sa that the imerest or other loan charges coltected or to tae callerted in connc~tion ~rith the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced b~~ the amount necessary to reduce the charge to the permitted limit; and (b) any sums already cotlected from Borrow•er which exceeded ~ermitted limits will be refunded to 8orrower. Lender may choose to make this refund by reducing the principal n~~~ed ~.~nder the Note or by making a direct payment ta Borrower_ If a refund reduces principal, the reduction will be treated as a II partial prepayment without any prepayment charge under the Note. 13, l.egislation Afferting Lender's Rights. If enactment or expiration of applicable laws has the ef~ect o~ rendering any pro~~ision of the Note or this Security Instrument unenforceable according to its terins, Lendcr, at its option. rna}~ require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedie~ prrmitted by paragraph 19. If Lender exercises this option, Lender shall take the ste~s specified in the second paragraph of ~aragraph 17. . 14. \otices. Am~ notice to Borrower provided for in this Security Instrument shall be given bp deli~~ering it or by~ n~ailing it b}• first class mail unless applicable law requires use of another method. The notice shal) be directed ro the i Yropert~• Address or an~~ other address I3orro«~e~ designates by notice to Lender. Any notir_e to Lendcr shall be gi~~en b}~ first class mail to Lender's address stated herein or any other address Lender designates by notice to E3orro~ti~er. Any notire ~ E~ro~~idcd far in this Securit~~ Instrument shall be dcemcd to ha~~e been given to I3orrower c~r 1_ender when gi~~en as provided ' in this paragraph. ; 15. Governing I.aw; Severabitity. "fhis Security Instrument shall be governcd by fedcra) law and the la~r of the jurisdicticm in which the Property is located. In the event that any pro~-ision or clause o( this Security Instrument ar the tiote conflicts with applicahle law, such conflict shall not afFect other pro~isions of this Security Instrument or the Note «hich can be gi~•en effcct without tFe ronflicting provision. To this end the provisions oPthis Security Instrument and the tiote are declared to be severable. 16. Rorrower's Copy. liorro~~~er shall be given one conformed copy of the Note and of this Securit}~ Instrumeni. 17, Transfer of the Yroperty ar a Beneficial Interest in I3orrower. If all or any part of the Pro~+erty or an~• interest in it is sold or transterred (or if a beneficial interest in I3orrow~er is sold or transferred and Borrower is not a natural pers~n) without Lender's prior written consent, Lender may, at its option, reyuire immediate papment in full of a~l sums ,ecured by ~his Security Instrument. f{owever, this option shall not be exerrised by Lender if exerci:e is prohibited by federal law as of the datc of this Security Instrument. If Lender exercises this option, Lender shall give [3~rrower notice of acceleration. "The notice shall provide a period e~f not Icss than 10 c1a}~s from the date the n~tice is delivercd or mailc~ w•ithin which I3orrower must pa~• all sums securcd b~~ thi~ Securit~• Instrument. If E3urrower fails to pay thesc sums prior to the expiratian ~f thit ~eric~d, t.ender ma~~ im•okc any rrmedies ~ermitted by~ this Securit}• :nstrumem ~~~ithout further notice or demand on I3orro~~~er. 18. 13orrorr-er's RiRht to Reinstate. If f3orrower meets certain conditions, I3orrower shall have thc right tc~ ha~c e~ife~rcement cif thi~ Securit~• (nstrument ditic~ntinued at an~• time prior to the earlier oE (a) 5 da~~s (or such ~~ther period as ap~licablc la~s ma~~ tipcrif~~ for rcinstatement) before tiale ~f the Property ~ursuant to anv (x~«~er of sale contained in this S~curit~ (ntitrumrnt; or (b) entry c~f a judgment enforring this Security Instrument. Thc~se r~nditi~ins are that F3orro«•er. (a) ra~1 Lcnder all tiumti ~~~hich then ~~~ould br duc under this Securitp instrument and the \ote had no ac~eleration c~rcurred: (h) rures anc default cif am~ ~nher co~•ei~ants or agreements; <<~ rays ~u cx~xnses incurred in enforcing this S~curit}~ Instrument, incli~ding, but nnt lim~ted to, reasonable aUome~•s' fees: and fd) takes such action as Lendcr may r r~ation;~hl~~ reyuire to ati~urc that thr licn e~f thiti Security Instrument, Lrnder's rights in the 1'ro~erty ~nd 13orrower's ~ c~hligau<m to ~a} the ~ums ,ecurrd h~• t}~iti Security Imtrument tihall ce~r2tinue ~mchanged. L'pcm reinstatemenl b}~ (3~~rrc~~~er, thiti Securit~ Imt-umint ~nd thr ~hligalions ~ccured hereb}~ shall rernain fully efiecti~~e as if no aceeleration had i <xcurrecl. I 1~~~~c~•rr, this right tu rcin~late Shall not a~+ply in the case of acreleration under paragraphs 13 or 17. - ~ k gooK 548 p,,~E1377 gooK 571 FAf,E 973