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Home My WebLink About0538 An~• amounts disbursed by Lender under ~his ~aragraph 7 shaU t~come aJdieional debt of Borrower secured by this Security • . Instrument. Unless Borrower and Leoder agree to other terms of pa}~ment, these amounts shall bear interest (rom the date uf - di,burse~ent at~the N~te rate and shall be payablt, with interest. upon notice from Lender to Borrower requesting payment. If l.ender required mor[gage insurance as a condition of making t~e loan secured b~• this Security lnstrument, Borrower shall pa~• the premiums required to maintain the insurance in effect until such time as the requirement far the insurance terminates ~ in accordance with Borrower's and Lender's w;~ren agreeme~6?~or plic ble law. 8. laspectioa. Lender or its agent may makdreasona6le entries upo~ ~d inspections of' the Property. Lender shall give B~r- I roNer noti~e at the time of or prior to an inspection spe~ifying reasonable cause ior the inspection. ' L• ~ 9. Condemnation. The proceeds of any award or claim for damages, direct or consequentiai, in connection with any condem- ? nation or other taking of any part of the Property, or !or com•eyance in lieu of condemnation, are hereby assigned and sha{I be ~i paid to Lender. ' In the e~ent of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security~ Instrument, { ahether or not then due, w~ith any excess paid to Borrower. !n the event of a partia! taking of the Property, unless Borrower and a Lender otherwise agree in w•riting, the sums secured by this Security Instrument shall be reduced by the amo~+nt of the proceeds muftiplied by the foliow~ing Fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market ~•alue of the Property immediately before the taking. Any balance shall be paid to Borrower. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make i an aw~ard or settle a claim for damages. Borrow~er fails to respond to Lender w•ithin 30 days after tfie date tfie notice is given, Lender is authorized to collect and apply the proceeds. at its option, either to restoration or repair of the Property or to the sums ~ secured by this Security lnstrument, w•hether or not t6en due. Unless Lender and Borrow~er otherwise agree in writing, any application of proceeds to principal shall not extend or postpone ' the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. 10. Borrow•e~ Not Released; Forbtarance b~• Lender Not a V1'nlver. Extension of the time for payment or modification of amortization of the sums secured by this Securit}~ lnstrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of tfie original Borrowtr or Borrower's successors in interest. Lender shall not be required to ; commence proceedings against any successor in interest or ret'use to extend time for payment or otherwise modify amortization j of the sums secured by this Securiry lnstrument by reason of any demand made by che original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or prectude the exercise of any right or remedy. il. Successors aed Assigns Bouod; Joiat and Seven! Liability: Co-sigoers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions~of paragraph 17. 8orrow~er's co~~enants and agreements shall be joint and several. Any Borrow•er who co-signs this Security Instrument but dces not execute the Note: (a) is co-signing this Security instrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obiigated to pay the sums secured by this Securit}• Instrument; and (c) agrees that Lender and any other Borrow•er may agree to extend, modify, forbear or make any accommoda- tions with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 12. Loan Charges. lf the loan secured by this Security lnstrument is subject to a law which sets maacimum loan charges, and that law is finally interpreted so that [he interest or other loan charges collected or to be collected in connection with the ; loan exceed the permitted limits, then: (a) an}~ such toan charge shall be reduced by the amount necessary to reduce the charge ~ ro the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrow•er. Lender may cho~se to make this refund by reducing the principal ow•ed under the Note or by making a direct payment j to Borrow•er. {f a refund reduces principal, the reduction wil! be treated as a partial prepayment without any prepayment charge ~ under the Note. ~ 13. Legislation Affecting Lender's Rights. lf enactment or exp~ration of applicab{e laws has the effect of rendering any provi- ~ sion of the Note or this Security (nstrument unenforceable according to its terms, Lender, at its option, may require immediate pay~ment in full of all sums secured by this Security Instrument and may invoke any remed:es permitted by paragraph 19. [f Lender ~ exercises this option, Lender shalt take the steps specified in the second paragraph of paragraph 17. 14. Notias. Any notice to Borrow~er provided for in this Security Instrumeat shall be given b~~ deli ~ering it or by mailing ~ it by~ first class mail unless applicable law• requires use of another method. The notice shall be directed to ihe Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's ~ address stated herein or any ather address Lender designates by notice to Borrower. Anp notice provided for in this Securi[y Instru- ~ ment shall be deemed to have been given to Borrovrer os Lender when given as provided in this paragraph. ~ 15. Gor~emiag Law•; Severability. T'his Security instrument shall be go~•erned by federal law and the law of the jurisdiction ~ in w~hich the Property is located. In the event that any provision or clause of this Security Instsument os the Piote conflicts with ~ applicahle law, such conflict shall not affect other pro~•isions of this Security Instrument or the Note which can be gi~~en effect ~ ti ithout the conflicting provision. To this end the pro~•isions of this Securit~~ lnstrument and the Note are declared to be severable. 16. Borrower's Copy. Borroµ~er shall be gi~~en one conformed ropy of the Note and of this Security Instrument. ¢ 17. Transfer of the Property or a Btoeficial latercst io Borrower. !f all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borro~•er is so[d or transferred and Borrower is not a natural person) without ~ Lender's prior written cansent, l.ender ma}~, at its option, require immediate paym~nt in full of all sums secured by this Security ~ lnstrument. How~ever, th~s opiion shal{ not be exercised b}' Lender if exercise is prohibited by federai iaw as of the date of this Security Instrument. ~ If Lender exercises this option, Lender shall give Borrow~er notice of acceleration. T'he notice shall provide a period of not ' less than 30 days from the date the notice is deli~ered or mailed µ~ithin which Borrower must pay a(I sums secured by this Security lnstrument. If Barrower fails to pay these sums prior to the expiration of this period, Lender may im~oke any remedies permitted by- this Security Instrument without further notice or demand on Borrow~~r_ 18. Borrower's Rigbt to Reinstate. lf Borrower meets certain conditions, Borrower shall have the right to have enforcement ' of this Security Instrument disco~tinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may spec~fy for reinstatement~ before sale of the Property pursuant to any power of sale contained in this Security Instrumem; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are tfiat Bortower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note had no acceleration occurred; (b) cures any defauit of any other covenants = or agreements; (c) pays all expenses incurred in enforcing this Stcurity tnstrument, in:luding, but not tim+ted to, reasonabie at- ~ torneys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. ` Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceieration had occurred. Howe~~er, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or l7. o a 67~ ~ ~`a~ °~oa~ 6~9 ~acf ~~1 BOGI( ~7 - ~ ~ ~ s-~~ r ~~~s~.-~~~ ~