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Home My WebLink About0936 i (f Lxrxler ~yuired mortgagr ineuran~~e ;~s a corxfition uf making the loan secureJ hy Ihis Serurity lmirument, Bnrr~~~vrr sh:~ll pay the pcemiums reyuired to m;uutain tt~e uL~ur~w~ u~ effect until such tune as tl~ Ryuin ment for ~t~e ir~tiur,u~ce ~rrniina~ex in accordance with Borrower's :uxi Lender's wrinen agreement or applicable la~v. 8. Inspection. Le~xier or its agent may make reasonable entries upon :uxi inspectio~u of the Pmperty. Lr~xk r shall give Borrower notice at tbe time of or prior to aa inspection specifying reasonable cause for the inspeceion. 9. Condemnation. 'R~e procee~cis of a[~y award or claim for damages, direct ur conuc~uenlial, in coni~ec~i~+n with cu~y condemnati~n or ott~er taldng of any part of the Propeny, or for canveyance in lieu of condemnatia~, are hercby atisigned :uKl s6a11 be paid to L.ender. In the event of a total taldng of the Property, the proc;eeds Shall be applied to the sums sec,~u~eci by this Security Instrumen~, w hether or not thea due. with any excess paid to Borrower. In the event of a partial taking of the Property. unless Burrower a~xl L,ender otherwise agree in writing, the sums se~vred by this Security Iamume~ shall be reduced by the nmount of the praxeJs multiplied by the following fraction: (a) the total amount of the sums seculed immediately befo~t U~e taking, divided by (b)11~ fair market value of the Property immediately before tt~e taking. Any balance shall be paid to Borrower. ' If the Property is abandoned by Borrower, or if, aRer notice by I.ender to Borrower that ttx condemnor offers to makc an award or setQe a claim for damages, Borrower faiLs to ~spond to I.ender within 30 days aRer tbe Jate the n~Kice is given, Lerxkr is authorized to collect and apply the proceeds. at its option, either to restoration or repair oF t6e Property vr to ti~e swus secured by this Securiry ItLStrument, whether or not then due. Unless Lender and Borrower othenvise agree in writing, any aQplication ~ of proceeds to principal shall not eztend or postpone the due date of the monthly payments teferred to in pv~?gr.lphs 1 c?nd 2 or change the amount of such paymeMs. 10. Borrnwer Not Released; Forbearance By Lender Not A Waiver. Exte~uion of the time for payment or modification of amortization of the sums secured by this Securiry Ir~stnm~ent granted by Lerxier to any successor in ir~crcst ~~f Borrower shall not operate to release the liability of the original Borrower or Borrower's successurs in intercs~. Le~xler shall n~x tx ~eyuin•d ~o commence proceedings against any successor in intetest or reft~e to extend time [or payn~ent or othenvisr mcxlify cunonization of the sums secureei by this Security Instiument by reason of any demand made by tbe original Borrower or Borrowrr :e succe~..ors in interest. Any forbear~ance by Lender in exercising any right or temedy shall not be a~vaiver of or preclu~k; Ux; rxrrciu uf :u~y right or remedy. 11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The coven:u~~s :uxi agrcemrrxs uf U~is Security Instiument shall bind and benefit the successors and assigns of Lender and Borrower, subje~~t to tlx provisi~?m nf paraEraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who casig~n ttus Secu~ity Inswment but dces not execute the Note: (a) is casigning this Security Inswment only to mortgage, gr:u~t ~uxl cex~vey tlr?t Boirower's intecest in the Property uncier the terms of tlvs Security Insuument; (b) is not pe~sunally obligated to pa~~ ttie sums secured by this Security Iastrument; and (c) agrees that Lender and any other Borrower may agiee to exlerxl, mcxliCy, forbe:v i,r make any accommodatioas with regard to the terms of this Security InswmeM or the Note without that Borrower's con~ent. 12. Loan Charges. If the loan secured by this Security InsVumeat is subject to a law whic6 sets maximum loan charges, and that law is finally interpreted so that the intetest or other loan charges collected or to be collected in coru~ection with ll~e Io~u~ ezceed the permitted limits, then_ (a) any such loan charge shall be reduced by the amount necessary• to reduce the charge tfx pemtitted limir, and (b) any sums already collected from Borrower whic6 exceeded permitted limits will be refunded ~u Borro~vrr. Lender may choose to make this refund by reducing the principal owed tmder the Note or by making a direct payment to Burrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment char~ZC u~xler ifx Note. 13. Legislation APf'ecdng Le~der's Rights. If enactment or eapiration of applicable laws has the effect of n:rxk:ring v~y provision of the Note or this Security Instrumeni unenforceable according to its terms. Lender, at its opuon, may reyuim immrdiair payment in full of all sums secured by this Security Inswment and may invoke any remedies pemiiued by paragr,?ph ly. lf i Lender exercises this option, Lender shall take the steps speci6ed in !he second paragraph of paragrapi~ 17. ; 14. Notices. Any notice to Borrower pmvided for in this Security Instrumeot shall be given by delivering it or by mai~ing ` it by first class mail unless applicable law requires use of another method. 'I~e rxitice shall be directed lo Ihe Pmperty A~Idm~.~ ! or any other address Borrower designates by no6ce to Lender. Any noqce to Lender shall be given by Grst clas.s mail to Le~xlrr'ti ~ aciclress stated herein or any other address Lencier designates by notice to Borrower. Any notice provided Cor in this Sccurit~~ i [nstivment shall be deemed to have been given to Borrower or Lender «hen given 1s provided in this paragr.~h. 15. Governing Law; Severability. 'Itiis Security Lutiument shall be govemed by federal law arxi tt~e law of the jurisdir~ic~n in which the Property is located. In the event that any provision or clause of this Security Inswmeot or the Note cexillic~s ~viih ; applicable law, such conflict shall not affect other provisions of this Security InstrumeM or the Note which can t~e given eftcct ` without the conflicting provisicm. To this end the pmvisio~ of this Security Instrument and the Note are decl:ued Io be sever;ible. ~ 16. Borrower's Copy. Borrower shall be given one confonned copy of the NMe arxl of this Security Instrumenl. ~ 17. Transfer of the Prnpertv or a Beneficial Interest in Borrower. If all or any patt of the Property or vry intrrcst in i~ g is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and B~rrower is not a natural perscN~) wiQ~uut ` Lender's prior written consent, Lender may, at its opuon, requite immediate payment in full of atl sums secured by tlus Securi~~~ E Inswment. However, this option shall oot bP ezetcised by L,ender if exercise is prohibited by federal law as of Ihe datc c?f this ~ Security Instrument. F If Lender exercises this option, Ixnder shall give Borrower notice of acceleration. 77~e notice shall prmicle a peric~ nf ncN ~ tess than 30 days from tbe date the notice is delivered or mailed within which Borrower must pay all sums seruird hy thi~ Scc~irit~~ ~ Instrument. If Borro~ver fails to pay these sums prior to the eapiration of this penod, L.endcr may invoke any ncmedirs ~~erneillcd ~ by this Security Insuument without funher notice or demand on Borrower. ~ 18. Borro~er'sRighttoReinstate.lfBorrowermeeLscertainconditions,Borrowersh:illhavelherightt~havcrni~?rumcrn of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such olher pericxl as applirahlr la~v may specify for reinstatement) before sale of the Property puisuant to any power of sale contained in this Security I~n~rumem; or (b) entry of a judgment enforcing this Security InsUUment. Those cooclitions are that Borrower. (a) pays Lerxler all sw~is which then would be due umier ttvs Security Instnunent and the Note had no acceleration occurred: (b) cures any default ~f any other covenants or agreements: (c) pays all expenses incurred in enforcing this Security Inswment, incluciing, h~n n~t limited to, reasonable attomeys' fees; and, (d) takes such action as Lender may reasonably require to assure that tl~e lien of Ihis Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by d~is Security tii~rumen~ shall ` continue unchanged. Upon teinstateme~t by Borrower, this Security Insuvmern and the obligations secured hereby shall mmain ~ fully effective as if no acceleration had occurrzd. However, this right to reinstate shall not apply in the case of acceleralitm wKlrr Patagraph.e i 3 or 17. r. F4 R ~ " By initializing, the Borrower(s) aclcnowledges that this page is page 3 of 4 ~ of a FI.ORIDA MORTGAGE." ~ InitiYia tia4a FNMAOM C 5/88 vp t.10 p~y~ 3 ot 4----- - M~9~e ~ ~o~K 674 PM~E 936 ~ ~ ~W , '