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Home My WebLink About1489 . ~ ~ . + If Lender ~equ~red mortgage ~nsurance as a cond~tion of mak~ngthe loar, secured by Ih~s Sec~r~ty Instrurnent Borro~tier shati ~ uay the prem~ums reqwred to ma~nta~n lhe ~nsurance ~n eftect unt~l such t~me as the requuemer.t for the ~nsurance term~nates ~n ~ accordance w~th Borroti~er s and Lender's wntten agreement o? appl~cable law ~ 8. Inspection. Lender or ~ts agent may make reasonable ent, ~es upon and ~nspect~ons of the P~operty Lerder sha.l g~ve ~ Borrower not~ce at the l~nie of or pr~or to an ~nspect~on spec+fymg reasonable cause for the ~nspect~on , 9. Condemnation. The p?oceeos of any a~vard or claim for damages. d~rect or consequent~al, m connect~on w~th any j condemnat~on ur other taking of any aart o! the Property, or (or conveyance ~n I~eu of conden~nat~on are hereby ass~gned and shail ~ i be pa:d to Lender ~ In the event of a to?al lak~ng of the Property. the proceeds shall be appl~ed to the sums secured by th~s Security lnstrument i whether or not lhen due, w~th any excess pa~d to Borrower In the event ot a part~al taRmg o} the Property. unless Borrower and ~ Lender otherw~se agree ~n wriling, the surns secured by lh~s Security Instrument shalt be reduced by the a~~ount o~ the proceeds multipl~ed by the follow~ng iract~on: (a) the total amount of ;he sums secured immed~ate?y bef~rethe taking drvided by (b) the ta:r market value of the P?operty ~mmed~ately befo~e the tak~ng Any balance shau be pa~d to Borrower If the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemna otfers to make an award er settle a cia~m for damages Borrower fails to respond to Lender w~th~n 30 days after the date ihe nouce is gn-en. Lender ~s author~zed to coliect and apply the proceeds. at ~ts opt~on. either to restorat~on a repair of lhe Property or to the sums secured by lh~s Security Instrumen!. whether or not then due Unless Lender and Serra~+er otherwise agree ~n writ~ng. any application of proceeds to pnrapa! shai~ not extend or postpone the due date of the monthly paymerts referred to m paragraphs 1 and 2 to change the amount ot such paymen!s. 10. Bor~ower Not Released; Forbearance By Lender Not a Waive?. Extension of tne t~me tor payment or modificat~on of ar:iortization of the sums secured by th~s Security instrument granted by ~ender toany successa in interest of Borrower shaU not operate to release the liab~l~ty oi the orig~nal Borrower or Borrower's successors i~ ~nteresL L2nder shali not be required to commence proceedings against any su~cessor in ~nterest or retuse to extend time for payment or atherw~se modrfy amortizat~on of the sums secured by th~s Security Instrument by reason of any demand made by the original Borrower or Bo~rower's successors ~n ~nterest. Any forbearance by Lender ~r exerc!sing any nght or remedy shatl not be a wa~ver of or preclude the exercise of any nght or remedy. 11. Successors and Assigns 8ound; Joint and Several Liability; Co-signers. The covenants and agreements ot this Secur~ty Instrument shall b~nd and benefit the successors and assigns of Lender and Borrower. subject to the provisions of paragraph 17 Borrower's covenants and agreements shail be joint and severa;. Any Borrower who co-s~gns this Secur~ty Insirument but does not execute tne Note (a) ~s co-signing this Secunty Instrument oniy to mo;tgage. grant and convey that Borrower's ~nterest in the Property under the terms of this Security Instrument: (b) is not persanally obiigated to pay the sums secured by this Secur~ty Instrwnent: and (c) agrees that Lender and any other Bo!rower may agree to extend. modify, forbea! or n,ake any acc~mmodatfons with reyard to the terms of th,s Sec~nry Instrwnent or the Note witho~t that BorroNer's consent 12. Loan Charges. If the Ican secured by th~s Secunty Instrument is subiect to a taw wh~ch sets max~mum toan charges. and ?hat la~,v ~s finaily ;nterpreted so thai the ~nterest or olher loan charges collected or to be collected in connect+on with the ;oan ~xceed the permrtted I~mits. then: ( a) any such loan charge shail be reduced by the amount necessary ta reduce the chargeto the perm~tted I~~rut. ano (b) any sums already collecled from Borrower which exceeded permitted limits wiil be retunded to Borrower Lene+er may choose to make this refund by reducmg the princ~pai owed under the Noteor by making a direct payment to Borrower. !f a refurd ~e~uces princ~pai. the reduchan ~rr~ll be treated as a partial prepayment without any prepayment charoe under the Note 13. Legistation AiMcting Lender's Rights. If enactrnent or e~cpirat~on d applicable laws has the dfed d rendering pro,nsons respecxing the repayment terms, interest adjustments, or transfer of propeRy under the Nde or this Securdy Instrument uner.(orceabie according to its terms, lEnder , at its option, may require Borrvw~er to modify the repa~rrnent terms, interest ad~ustment terms, or transfer d property pravisiorKs), as applicable, d the Note and/or the Security Instrument. The new term(s) shall not increase the No?e interest rate to a rate greater than ; the rate l.~ender would have offered Borro~uer on the date d the Note for a 30-y~ear fixed rate ban in the same onginal principal amount as the Note ; If Lender exercises this opt~on, Lender shall give not~ce to Borro~wer, specrfying: (a) the action requ~red to modify the applicable term(s) E of the Note and the Security Instrument: (b) a date, not less than 90 days from the date the notice is given to Borro~wer, by wh~ch the modrfication ~ must be completed; and (c) that fa~lure to complete the modification on or before the date specrfied in the notice may result in acceleration of the sums secured try the Security Instrument. If 8orra~rer fa~ls to take the adian required to effect the modiiication within thE speciiied Ume. Lender may irnroke any remedies perm~tted by the Security Instrument without further notice to or demand on Borrower. i ~ 14. Notices. Any not.ce to Borro~,•;er prov~ded for m th~s Secunty Instrument snall be g~ven by delive~ing ~t or by ma~l~ng ~t by `~rst class ma~l unlessappl~cablela~rrrequiresuseof anethe. methcd Thenot~ceshall bedirectedtothePropertyAddresscxany ~ oth~r address Borrower designates by r:ot~ce±o Lender Any notic2 to Lender sha!I be g~ven by first class ma~l tolerde~ s add~ess s~ated herein or any other address Lender d°signates by notice to Borrower Any notice provided for m this Security Instrume^t ~ shali be deemed to have been o~ven ?o Bcrro~.ver or Lender when given as provided in this paragraph ~ 15. Governing Law; Severability. Th~s Spcunty Instrument sha!I be governed by iederal law and the law of the ;ur~sdct~on ~n ti1~h~ch the Property ~s located In the event tnat any prov~s+on oi ctauseof th~s Sec~rity Instrument or the Noteconfi~cts ~ ;~;~?h ap;;!~cable fativ. such con!hct shatl not aftect other prows~ons of this Secur~ty instrument or the Note which can begiven effect rv~lhout the confiichng prov~s~on i o this erd the prov~s~ons oi this Security Instrument and the Nete are declared to be severable 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note ard of this Secunty Instrument 17. Transfer of the Property or a Benefid~l Interest in Boroeaer. If all or any part of the Property or any ~nteres; in ~t ~s sold or transferred lor if a bene!ic~al ~n!erest m Borrower is so!d or trans!erreci and Berrc~re; is no? a nati~ral person) without Lender's pno~ ti~:rtten consent. Ler~der may. at ~ts op!ion requ,re ~mmed~ate payment m fuil of a!I sums secured by this Security lnstrument Ho.:ever th~s ep;~on shat! no? be exerc~sed by Lender if exercise ~s proh~b~ted by f~deral !aw as of the dace of th~s Secur~ty S tnstrument If Lender exe~c~ses this op?ion. Lender shall g~ve Borro~~er net~ce of acceteration The not~ce shall prov~de a penod o} not F less tr,ar, 30 days trom the date the nohce ~s de!ivered or ma~led w~th;n wh~ch Berrower m~st pay a~l sums secured bythis Secunty ; Ins!rument If Borrower fa~ls to pay ?hese sums pnor to tne exp~ration of th~s peiiod. Lender may mvoke any remed~es perm~tted by th~s Secunty instrument without further notice or dema~~ on Bcrrower. ~ 18. Borrower's Right to Reinstate. If Sorrower meets certain cond~tions. Borrower shall have the right to have ~ eniorcement of this Secunty Instrument d~scontinued at any t~me pnor to the earlier of: ( a) 5 days (or such other penod as appl~cable ~aw. may specify for remstatement) before sale of the Property pursuant to any power of sale conta~ned ~n this Securrty Instrument. or !b) entry of a ~udymert eniorc+ng this Security Instrument Those condihons are that Borrower: ;a) pays Lender ali sums which then would be due under tnis Secur~ry Instrument and the Note had r,o acceleralion occu~red; (b) cures any defauif of any otner covenants or agreemer,ts: !c! pays all expenses mcurred in enforcing this Security Inslrument. including. but noi 6mited to. r ± F~ 1 2 3 s 5 6 7 8 9'0 ohBdale OBB249 Re~ Jv: ' 88 (~6Q21 PC ~ B` oo~~ PacE 1489 ~ - - - ~ ,.~c~~. - ~ . . . ~ ~