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Home My WebLink About1854 . - . . . • . . ' • . . . , . If Lender reqwred rnortgaye ~nsurance as a cond.t~on ot mak~ngthe ioan secw~,~d by lh~s Secur~?y Instru~nenl. Borro~~•er shall pay the prem~ums requ~red io n~a~nta~n ihe ~nsurance in effect until such time as the requuernent for ihe ~nsurance lerm~nates ~n a~cordance w~th Bor~ower s and Lende? s wntten agreen~ent or appl~Cabie law 8. Inspectlon. Lender or ~ts agern may make reasonable entnes upon and ~nspect~ons ot the Pioperty Lender sha11 y~ve Bcuower not~ce at the hme of or pnor to an mspect~on spec~fymg reasonabte cause for the ~nsped~on 9. Condemnation. The proceeds of any award or cla~m for damages. d~rect or consequent~at m connect~on w~th any cordemnabon or other tak~ng of any part of the Proparty, a for conveyance~n I~eu of cordemnai~on, are hereby ass~gned and shail be pa~d to Lender tn the event of a totai takmg of the Property the proceeds shall be app~~ed to the sums secured by th~s Secur,ty Instrument. ,che!ner or not then due w~th any excess pa~d to Borrower In the event of a part+al tak~ng of the Property unless Borrower and Lender otherw~se agree m wnt~ng the su+ns secure~i by th~s Securdy Instrument shall be reduced by the amount of the proceeds rnuit,pl~ed by the fo~lo~vmg fract~on ( a) the total amount of the sums secured immed~ately before the tak~ng, d~v~ded by (b1 ihe ta~r rnarket va!ue of the Property ~mmed~ate~ before the taking Any balance shall be pa~d to Borrower U the Properry is abandoned by Borrower, or A. after not~ce by Lender to Borrower that Ihe condemnor offers to make an av:ard oi settle a claim br damages Borro:ver faiis to respond to Lender w~th~n 30 days after the date the not~ce ~s g~ven. Lender ~s authonze~ to coitec! and apply ihe proceeds, at ~ts optfon. e4her b restoraUon or repa~r ot the Property or to the surns secwed by th~s Secunty Instrument whether oi noi then due Unless Lender and Borrower otherw~se ayree m Hnt~ng any appl~cahon of proceeds to pnnc~pal sha11 not extend or F~cstpone the due date of the monthiy payments re~erred to m paragraphs 1 and 2 to change the amount ot such payments 10. Borrower Not Relesaed; Forbearance By Lender Not a Wdver. Extensian of the t~me tor payment or modihcat~on of a~nortaahon of the sums secured by ihis Security Instrument granted by Lender toany success~r m interest of Borro•.ver sha!I not o~:,erate to release the !~ab~hty of the ong~nal Borrower or Borrower s successors m ~nteres~ Len~er shall not be requ~red to commence proceed~ngs aga~nst any successor ~n ~nterest or refuseto extendtimetor payment or otherw~semod~fy amort~zat~on of the sums secured by th~s Security instrument by reason of any demand made by the or~g~nal Borrower or Borrower's successors ~n ~nterest Any torbearance by Lender m exerc~s~ng any r~ght or remedy shaU no! be a wa~ver of or preciude Ihe exerc~se of any nght or remedy 11. Successors and Assigns Boun~ Joint and Several Lfabllfty; Co-signers. The covenants and agreements of th~s Secunty Instrumert shall b~nd and benef~t the successors and ass~gns of Lender and Barrower. sub~ect to the prows~ons ot paragraph 17. Borrower's covenanis and agreements shall be joint and severat Any Borrow~er who co-s~gns th~s Securdy Instrument but does not execute the Note: ~al is co-s~gning this Securty Instrument only to mortgage grant and convey ihat Borrower s ~nterest ~n the Property under the terms of th~s Securrty Insirument (b) ~s not perscnalry obhgated to pay the sums secured by th~s Secur~ty Instrument: and I c? agrees ihat Lerder and any other Borro~.ver may agree to extend. mod~fy. forbear or !nake ar,y accomrnodat~ons ~v~th regard to the tem„ of th~s SeCUnty Instrument or !he Nofe ~~rRhout that Borrovver s Consen{ 12. Loan Charges. ~t the toan secured by th~s Secur~ty instrument ~s sub~ect to a ia~.v wh~ch sets max~rrum loan charges and !hat la~.v ~s fmaliy ~nterpreled so that ihe interest or other loan cha~ges ~ollected or to be collected m connect~on w~th the I~an exceed the pcrrm:tted !~rn,ts then, i a) any such Ioan charge shall be reducea by the amount necessary b reduce the chargetothe e~ermitted li!~~~t and i bl any sums a(~eady cotlected tram Borretiver which exceeded permitted i~mrts w~i! be refunded to Borro~.ver Lender rnay choose to rrake th~s refund by reduc~ngthe ~~nnc~pai owed under theNoteo- by making a d!rect paymeni !o Borra,nrer If a refur,d reriuces pr~nc~pa~ the reduct~on w~(I Ce treated as a pari~al prepayment without any prepayment charge und2r the Note ia Ane~+~ ~e~,a~~$ ~ne~. ~i a«~~~;«, a~~ ~ n~ n~ ~rea a~~~~ ~oH~ ~~a~~ the repayment terms, interest adjustments. or transfer of property under the Nde or this Securfty Instrument unenforceable according to rts terms, ~ender , at rts option. may require Borrower to mod~fy the repayment terms, interest adju~ment terms, a transier d property provis~or~(s), as applicabl~ d the Noie andlor the Security Instrumeni. The new term(s) shall not increase the Note interest rate to a rate greater than the rate LerxJer would have offered Borro~rer on the date d the Note tor a 34year fixed rate loan in the same onginal principal arriount as ihe Note It Lender exercises this option. Lender s~alf give notice to Borrawer, specify~ng: (a) the act~on required ro modity the applicable term(s) of tne Nde and the Security Instrument: (b) a c1at~ not less than 90 days from the date the notice is giv~en to Borrawer, by which the modific2t+on must be completed; and (c) that failure to complete the modrfi~..ation on or before the date specrfied in the notice may resuft in accelerairon d the sums secured by the Security Instrument. If Borrawer fails to take the action required to effect the modificat~on within the speciiied Ume, Lender may irrv~ke arry remedies perm~tted by the Security Instrument without further notice to or demand on Borro~w~er 14. Notices. Any nchce !o Bo~!ower prov~ded fo! m ih+s Secu: ~ty Instrument shall be g~ven by del~venng it or by ma~l~ng rt oy hrst class ma~l unless appl~cable iaw requ;res useof another method The not~ce shalt be d~rected tothe Property Address or any otner address Bonower des~gnates by no?~ce to Lender Any nohce to Lender shall be g~ven by t~rst class ma~i toLender's address ` s?ated here~n or any otner address LPnder des~gnates by notice to Borrovrer Any not~ce provided for ;n th~s Security Instrument ~ shali be deemed to have been g~ven te Borrower or Lender when g~ven as prov~ded ~n th~s paragraph ~ 15. Governing Law; Severability. Th~s Secunry Instrumert shall be governed by federal ;aw and the law of the ~unsd~c!:on ~n wh~ch the Property ~s iocated In the event that any prov~s~on or clause of th~s Secunty fnstrument or ihe Note co~fl~cts i ' ~~.:tn app~~r.able la•.v. such conft~ct shaN not affect other p~ov~s~ons of th~s Secunty Ir.strument or the Note wh~ch can be given effect t .v~!hout the confhct~ng prov~s~on To th~s end the prov~s~ons of th~s Secur~ty Instrument and the Note are declared to be severabie 4 16. Borrower's Copy. Borro~.ver shall be g~ven one conformed copy of the Note and of th~s Secunty fnstrument 5 17. Transfer oi the Property or a Benefidal Interest in Borower. If a11 or any part of the Property or any mterest ,n ~t ~s ' so~d or trans!erre~ (or d a benef~c~al ~nterest ~n 8orrower ~s soldor transferred and Borrower+s not a nat~ral persan) wdhoul Lender s ~ ;~nor .vr~tter, consent. Lender may ai ~ts opt~or requ~re ~r~„-~ed~ate paymer.t ~n full ot all sums secured by th~s Security Instri,mE~t Hor.~« ver th;s Upf:on Shall ~ot be exerc~sed by Lender ~f exerc~se ~s proh~b~ted by feJeral law as oi the date ot th~s Secunty Instrument f e If Lender exerases !h~s ophun Lender ~ ha!I g~ve Borrower not~ce of accelerat~on The not~c2 shall provide a period of not ` !ess than 30 days from the date the not~ce !s dei~vered or ma.lAd w~th~n wh~cn Borrower mus! pay an sums serured by!h~s Secunty ? ~n;?rument If Borro~r~er fa~ls to pay these s~ms pr~or to the ex~~rat~on of th~s penod. Lender may ~nvoke an~ remed~es perm~ited by ~ ~ ~r~s Secunr.y Instr~ment w~thout turrher nohce or demand on 8orrower e ~ 18. Borrowers Right to Rainstate. I[ Borrower mpets csrta~n condrt~ors. Borrower shal~ have the nght to have ~ ~_~~fercement of th~s Secuniy instr~ment ci~scont~nued at any t~mepncr tothe earl~er o! ( a15 days (o- such othet penod as appl~cable ~ a:•; may spec+fy for re~nstatement~ before sale of the Preperty pursuant to any power ot sale con;a~ned in th~s Securrty Instrument: ~ o~ ~oj ent.ry of a}udgment erforc~ng th~s Secur~ty Instrumer~t Thosecondiions a~ethat Borro~.ver (a) ~ays Lender aL sums wh~ch ~ !nen .~~ou:d be due under th:s Serur!y irs?rurr~ent a~d the Note nad no accelerat,on occurred (b) cures any defau!t of ar; other ~ ~~1er,ants ~~;r agrec~n~~ents. (c; F;ays a!I ex~;~~nses ~ncurred ~n Fn!orc,ng th~s Secunty lnstrument. indud~ng. but ~ot l:rr~~ted to € ~ ~ 08`3249 Rev Jn ' BB 1~60Z! FC ~ eooK 67~ PACE18~ ~ ~ ~ ~ - ~ c~~H~;'c€~?...;x~'~~"~::r--~ ~_~~t~.yFv~~::-~s~s-s.~.,~+~~rs~~..rr':~""~?