The URL can be used to link to this page

Home My WebLink About0940 i If lender ; eqwretl mortgagc ~nsurance as a conddion ot mak~rSgthe loan secured by th~s Secunty f nst~ument 8orrowc~r sha!I pay the premiums requ~red to ma~rna~n the msurance ~n etlect unlil such t~me as ihe requ~rement tor the msurance term~nates ~n accordance wilh Borrowe~~s and Lender's wntten agreemenl or appticable !aw . ~ 8. Intpectlon. Lender o? ds agent may make reasonabie entnes upon artd inspec.tions of 1he Property Lender sha?I g~ve ! i Bo~rower notice at the lime o( or prior to an inspect~on spec+fymg reasonable cause tor Ihe inspection i 9. Condemnatton. The ~roceeds of any award or claim for damages, dired or consequ~ntial,~n co~ecliq~ with any ~ condemnation or other taking o! any parl oi the Property, or for conveyance i~ Iieu of condemnation. are hereby ass~gned and shal, ' be pa~d to Lender In the event of a total taking of the Pruperty. the proceeds shal! be appl~ed to lhe sums secured by Ihis Secu~ity Instrument. whether or not then due, with any excess paid lo Borrower tn the event ot a partial tak~ng o( fhe Prope?ty. untess Borrower and Lender otherwise agree in writ~ng. the sums secured by ih~s SecUrity Instrument shait be reduced by the amo~mt of the p?oceeds ~ multiplied by the tollowirg fraction: (al the total amount oi lhe sums secured immediatety beforethetaking div~ded by (b) the fair market value'ai the Propsrty immediatety hefore the taking Any balance shall be paid to Borrower. If the Property is abandoned by 8orrower, or ~f, atte~ notice by Lender to Borrower Ihat the condemnor otfers to make an ~ award or settle a claim for damages. Bo?~ower lails to respond to Lender within 30 days after the date the noGce ~s given. Lender ~s authorized to coliecf and apply the proceeds, at ~ts uption, either to restoration or repair of the Praperry or to the sums secured by this Security Ins!rument, whether or not then due Unless Lendc~r and Bor~ower otherwise agree in writing, any applica!ion of proceeds to principal shall not extend c~r post~one Ihe due date of the monthly paymeMs retened to in paragraphs 1 and 2 to change the amvunt ot such payments ~ 10_ Barrower Not Released; Forbearance By Lende~ Not a Walver. Extc~sion of the time tor payment or moddication I ot a~r,o?lization of the sums sscured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not ~erate to retease the tiaoitity of the origina! 8arowei or Borrower's successors in interest lender shall not be requlrec~ tu commence proceEdmgs agains! any successor in interest or retusetoextendtime for payment or otherwisemod+fy amortization ol ihe sums secured by this Security Insirumenl by reason of any dernand made by the original Borro~xer or Borrcwer's successors in interest. Any forbearance i~y Lender in exerc~sing a~y right or remedy shall not be a waiver of or preclude theexercise of any right or remedy. 11. Succesaors and Asslgna Bound; Jolnt and Several L(aWl(ty: Co-signers. The covenanis and agreements oi this ; Security Instrument shall bind and benefit the successors and assigns of Lender and Bor~ower, subjec! to the provisions of paragraph 17. Borrower"s covenants and agreemenfs shaN be joint and several. Any Borrower who co-signs this Secunty Instrument but does not execute the Mote~ (a) is co-signing this Security Inslrurr~eni onty to matgage. grant and convey ihat B~rrower's +nteresl irr the Property under the terms of this Security Inslrumenl; (b) is not personally obligated to pay the sums secured by ihis Security Instrument, and (c) 3grees that Lender and any other Barower may agree to extend, modity, forbear or make any accommodations w~th regard to the terms of Ihis Security Instrumenl or !he Note withaut that Borrower's consent. 12. Loan Chargea. It ~he loan secured by this Security Instrumenr is subject to a law which sets maximum loan charges. and that 1aw is (inalty mterpreted sothat the ~nterest or olher loan charges coflected or to be cotlected ~n connection with the loan exceed the perm~tted Iimils, then. ( a) any such loan charge shall be reduced by the amount necessary to reduce the cha; geto the ~ permitted lirnit; and (b) any sums already cotlecled trom Borrower which exceeded permitted limits will be refunded lo Borrower. ~ Lender may choose to make this re(und by reducingthe principal owed under the Noteor by making a d~rect payment to Borrower. If : i a refund reduces princ+pat, ihe reduction will be treated as a partial prepayment without any prepayment cha~ge under the Nole i 19. Leglslatlon A(lecting Lende~'s Filghts. II enactment or expiration of applicable laws has the efteci of rendering any . ~ prows~on of the Note or this Security Instrument unenforceable according to its terms. Lender, at its option, may requfre immediate payment in full of ail sums secured by this Security Instrument and may invoke any remedies permitted by paragraph 19. If Lender exerc~ses this oplion. Lender shall lake the steps specitied in the second paragraph ot paragraph 17. 14. Notices. Any notice to Borrower provided tor in this Se~urity Instrument shall be g+ven by delivering it or by mailing it by first class mail untess applicable law requ~res use oi another method. The not~ce sha11 be directed to the Property Address or any other address Borrower desi~nates by notice to Lender Any nolice to Lender shall be given by first ctass mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any no;ice prov~ded for ~n this Security Inslrument shall be deemed to have been given to Borrower or lender when given as provided in this paragraph 15. Governing Law; Severability. Th~s Security Instrument shall be governed by federal law and the law of the jurisdiction in which th~ Property is located. In the event that any prov~sion or clause of this Security I nstrumeM or the Note coMlicts w~th applicable lav~. such contlict shatl not affect ather prov~sions of this Security Instrument or the Note which can begiven eifect without Ihe conflicting prov~sion. 7o this end ihe provisions of this Security Instrument and the Note are declared to be severable. ~ 16. Borrower's Copy. Borrower shalt be given one coniormed copy of ihe fVote and ~f this Security Instrument. 17. Tranater oi ihe Property or a Beneticlal intereat In 8orower. aIl or any part of the Property or any interest in ~t is sold or transferred (or if a beneficial interest in Sorrower is sold or transferred and Borrower is not a naturat person) without Lender's ~ prior written consenL Lender may, at ;is option, requue immediate oayment in full ot all sums secured by th~s Security Instrument ~ However. lhis option shall not be exercised by Lender if exercise is prohibited by federal law as of the date oi this Security i Instrument. If Lender exerc~ses this option. Lender shail g+ve Borrower notice of acceteration. The notice shall provide a period of not I~ss than 30 days from the date the notice is delivered or maHed within which Borrower must pay atl sums secured by this Serurity Instrument If Borrower fails to pay these sums prior to the ex~iration oi this period, Lender may +nvoke any remediss permitted by this Security InstrumeM without further notice or demand on Borrower ' 18. Borrower's Right to Reinsfate. I( 8orrower meets certain cond~lions. Borrower shaft have the right to have en(orcement of this Security Instrument disconiinued at any lime prior to the ea~lier ot: ( a) 5 days (or such other period as applicable ~ ?aw may spec+fy Ior re;nslatementl be(ore sate of the Property pursuant to any povrer of sate contained in this Securily Ins!rument: or (b) entry o} a judgment enforcing ihis Security Instrument. Those conditions are that Borrowe;: (a) pays Le~der all sums wh~ch then would be due under this Serurity Instrument and the Nate had no acceleration occurred: (b) cures any default ot any other covenants or agreemenls; (c) pays all expenses incurred in ertorcing this Security Instrument, including. but not frmited lo. reasonab~e attorney's tees: and {d) takes such action as Lender may reasonabty require to assure that the lier of this Securify Instrument. Lender's rights in the Property and Borrower's o~;igation to pay ihe sums sec~red by lhis Securlty Instrument shalt ~ con!inue unchanged Upon reinstatement by Barrower, this Security lnstiumen! and the ob!igations secured hereby shall remain 'i fulty efteclive as ~f no acceleration had occurre-d Howeve~. ihis rfght to reinstate shalt not appty in lhe case of acceleration under ~ paragraphs ~ 3 or 17 . 50~~ 574 ~A~f 94~ Prenous edt~a! d Jui 84 may be used 069249 Rev Sep 8~ ~1GOQ) PC . . _ ___,..~....._~._,.__.e._~...r~..