The URL can be used to link to this page

Home My WebLink About1750 If 1_ender required m~~rtkage insurance as a run~litiun ~~f making ehe l~,an secured by ehis Seruricy In- scrwnene, Burn~wer shsll pay che premiums requirc~f cu m3intsin ~he insuranrr in effert until such time ~s a requiremen~ fur thr inwrance eern~inaees in ~rcur.lance with Burn~wer's ~nd l.ender's written :~kreement ur applicable law•. 8. Inspection. (.en~ler ur its a~;ent may m:?ke reas~~nable encries uEx>n and inspectiuns uf the Prupert~~. l.rnder shall ~;ive Burruwer nunre ac the time uf ur prior tu an inspeitiun specifying rc~sunable rausr Fur the inspecci~~n. N. Condemnation. Thr pnxeeds ~~f 3ny award or rlaim fur damages, direct ~>r rcrosc-quential, in iunnectiun with any cun~lemn.~tiun ur ucher takink uf any part uf the Yruperty, ur f~~r a?nveyance in lieu uf r~,ndemn~tiun, are hereby~ assigned and sh,?ll be paid cu l.ender. In the event ~?f ~ tuc:~l cakinK uf ehe Pruperty, the pnxeeds shall be applied to the sums secured by~ this Sec~rity Inscrumrne, whether ur nue chen due, wich any excrss paid to &~rr~~wer. In the e~~ent uf a partial caking uf thr Pruperty, unless Hurruw•er and Lender ~~therwise agree in wricing, the sums secured by this Securit~~ Inscrument shall be reducc-d by the am~iunt uf the pr~xerds multiplied by~ the f~?11~>wing frartic~n: (a1 the u~tal amount ~~f che sums secured immediately befure taking, divided by (b) che fair marke~ value of che Pn~pert~• immediately before the taking. Any balance shall be p~id to Burcower. If che Pruperty is abanduned by B~~rruwer, ur if, after notice by 1_ender to &~rruwer chac the condemnor uffers w make an sward ur settle a claim for damakes, Burruwer fails tu resFwnd tu I.ender within 30 days after thr date the nutice is ~iven, Lender is authurized to a~llect and apply the pnxeeds, at its option, eicher cu rescoratiun ur repair uf thr Pn~perty ur w chr sums secured by chis Security lnstrument, whether or not then due. Unless 1_rnder and Burn~wer utherwise agree in writing, any applicati~m uf proceeds to principal shall nut excend or puscpune che due dace uf che monthly paymenes referred to in paragraphs 1 and 2 or change che amvunc uf such paymencs. 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Excensi~~n uf che time for paymenc or mu.iificaeiun uf am~~rtizaciun of the sums sec~reJ by this Security Inscrumenc granced by l.ender co any sucreswr in incerest uf Burruwer shall nut ~,perate to release che liabilicy of the original Borrower ur Borrow•er's successocs in inceresc. Lender shall n~~t be required a~ cummence pnxeedings against any sucreswr in inceresc or refuse excend cime for payment or ucherwise m~xfify am~~rcizaciun uf che sums secured by this Security lnscrument by rease~n of an~~ demand made by che original Borrower ~~r Burrower's successors in incerese. Any forbearance by Lender in exercising any~ right ur remed~~ shall nut be a waiver of or preclude ehe exercise ~~f any righe or remedy. 11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The cuvenants and agreemencs uf chis Securi~y Ins~rumene shall bind and benefic the successurs and assigns uf I_ender and Burruwer, subjecc co the pnrvisions of para~raph 17. Burrower's cuvenanes and agreemencs shall be juinc and several. Any Burruwer w•hu co-signs chis Securic}~ Instrument but di~es nuc exetuce che Nore: l a) is cu-signing this Securiry Inscrumenc unly cu muregage, granc and cunvey chac Burruwer's inceresc in che Pn~percy under che terms uf chis Securicy Instrument; eb) is nuc persunally ubligaced co pay che sums secured by ehis Securicy Inscrumenr, and (c) agrees chac Lender and any ocher Burrower may agree ~u extend, m~~clify, fcxbear ur make any accumm~~acie~ns wich regard cu che cerms uf chis Securiry lnscrumenc ur che Nure wichouc chac Burn~wer's a~nsent. 12. Loan Charges. lf the I~~an secured by this Security Instrument is subject to a law which sets maximum luan j charges, and cha~ law is finally inrerpreced so chae che inreresc ur acher luan charges cullecced or w be collecced in cunnection ~ with the luan exceed the permitted limits, chen: ia) any such luan charge shall be reduced by the amuunt necessary to reduce : che charge tu the permitted limit; and ( b) any sums already rollected from Borrower which exceeded permitted limits will be ~ refunded to B~~rn?wer. I_ender may rhuose te~ make this refund by reducing the principal owed under the Nore ~~r by makinR a i direct pay~ment co Burre~wer. If a refund reduces princip~l, che reducciun will be treated as a partial prepaymenc withuuc an}• ; prepa~~menc charKe under the Nore. ; 13. Legislation Affecting Lender's Rights. If en;~ccment ~~r expiration ~~f applicable laws has the effect uf rendering ~ any prcn•ision of the Nuce ur ehis Securiry Inscrumenc unenfe~rceable according co its cerms, Lender, at ics optiun, may require immediate pay~ment in full uf all sums secured by this Securiry lnstrument and may im•~~ke any remedies permitted b~~ ~ paragr:~ph !9. If l.ender exercises this opcion, Lender shall cake the sceps specified in che second paragraph ~>f paragraph 17. 1~#. Notices. Any nucice co B~~rrower provided fur in this Security Instrumenc shall be given by delicering it or by ~ mailinK ic by firsc class mail unless applicable law requires use of anuther mech~. The nu~ice shall be direcced co che Prupercy Address ur any ucher address B~~rrower designaces by nocice cu l.ender. Any nocice n~ l.ender shall be given by firsc class mail ~ co Lender's address scated herein or any ucher address Lender designares by nucire Burrower. Any nocice provided for in chis Securicy lnscrumen~ shall be deemed cu have been given co Borrower ur Lender when given as pro~•ided in chis paragraph. ~ 15. Governing I.aw; Severability. This Security lnstrument shall be governed by federal law and rhe law uf che jurisdicci~~n in which ehe Pn~pcrcy is I~xaced. ln che evenc chac any pruvisiun ur clause c~f ehis Securiry Inscrumenc or che Nore ~ ic~nflicts with applicable law, such conf lict shall nuc affect ocher provisiuns of chis Securiry lnscrumene or che Nore which can ~ be given effecc wich~~uc the a~nfliccing provisiun. Tu ehis end che pru~•isions of this Securicy~ Ins~rument and the Nuce are declared u~ be severable. 1G. Borrower's Copy. Burruwer shall be given one conf~~rmed cupy of che N~xe and of this Security~ Ins~rument. 17. Transfer of che Property or a Beneficial Interesc in Borrower. If all ur any part c~f che Property or any interest in it is sold ur transferred (ur if a beneficial interest in Born~wer is s~~ld ~~r transferred and Sorrower is nut a natural ~ pers~~n1 with<~ut l.ender's pric~r written consent, I_ender may, at its opri~>n, require immediare pay~ment in full of all sums ` secured by this Security Instrument. Huwever, this ~~pciun shall not be exercised by I.ender if exercise is pruhibited b~~ federal law :~s uf the date of this Securiry lnstrument. ~ (f Lender exercises this optiun, Lender shall give Burrower nutice of acceleraciun. The nutice shall pruvide a periuei of nut less than i0 days fr~~m the date the notice is delivered ~~r mailed within which Burrower must pay all sums secured by this Security Instrumenc. If Be~rrower fails ta pay these sums prior to the expiration of this period, l.ender may imoke any remedies permitted by chis Security Inscrumenc wichuut furcher nocice or demand on Burrower. 18. Borrower's Right to Reinscace. If Borrower meecs cercain condiciuns, Burrower shall have che right co have ~ enfc~rcemene of ehis Security Inscrumenc discuncinued ac any cime prior co the earlier of: (a) 5 days (or such other period as ~ applicable law may specify fur reinscaremenc ) before sale uf the Property pursuant to any power of sale cuncained in chis Se- ~ curi~y Ins~rumenr, c~r Ib> entry uf a judgmenc enforcing chis Securiry Inscrumenc. Those a>ndicions are chat Borrowe~: (a~ ~ pays I.ender all sums which then wc~uld be due under this Security lnstrument and the Note had no acceleratiun excurred; lb) ~ cures any defaulc uf any ~?ther convenants or agreemencs; (c) pays all expenses incurred in enforcing this Securiry Instrument, ~ including, but not limired co, reasvnable atcorneys' Fees; and (d) takes such action as Lender may reasonably require to as- ~ sure that the lien of this Security Instrument, Lender's rights in che Property and Borrower's obligaciun to pay the sums ; securecf by this Securicy lnscrument shalf ce~ncinue unchanged. Upon reinstatement by Borrower, chis Securicy Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had cxcurred. However, this righc co reinstate shall nc>t apply~ in the case of acceleracion under paragraphs 1 i or 17. ` B04K U7~ PAGE~75O € ~ ~a ~ ~ - ~ - ='~°Y~