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Home My WebLink About1871 _ , ; . . - • It Lentler requ!red rnortgage ~nsurance as a cond~t~on o! mak~ngthe loan secured by Ih~s Secunty instrumenl. Borrower sha11 pay tne ~:rerruums reqwred to n~a~nta~n ihe ~nsurance ~n effec~ urn~l such t~me as the reqwrernent for the ~nsuiance terrn~nates ~n accordance w~th Boriowe~ s and Lerder s wntten agreement or appl~cable law 8. Inspection. ~ender or ~ts agent may make reasonab!e entr~es uponand mspect~ons o'tne Pruperty Lende~ shaii g~ve Burrower nohce at the tu»e ot oK pnor to an mspecf~on spec~tymg reasonabte cause for the inspection 9. Condem~ation. The ~xoceeds ot any award or cla~m for damages. duect or consequent~al. ~n connect~un w~th any condemnat~on or ~ther tak~ng of any pait of Ihe Property, or for conveyance m Geu of conden,nahon arehereby ass~gned and shail be pa~d to Lender ~ In the event of a to[a! tah~ng of the Propeity. the proceeds shati be appt~ed to ihe sums secured by this Secunty Insirument ~vhether or not then d~e w~th any excess pa~d to Borrower In the event of a part~al takmg of ihe Property. unless Borrowe? ar.d Lender otherw~se agree ~n wnt~ng the sums secured by th~s Secunty Instrument shall be reduced by the amount ot the proceeds mult~~l~ed by the loi~otiv~ng fract~on (a) the total amount oi the sums secured immed~atety before the tak~ng div~ded by (b) the fa~r market vaiue of the property ~mmed;ately befo!e the tak~ng Any balance shail be pa~d to Borrower If ihe P:operty ~s abandoned by Borrower. or ~f, after netice by Lentler to Borrewer Shai the condemna otters to mahe an award a; settle a claim !or damages. Borrower la~is to respond to Lender w~th~n 30 days after the date the not~ce ~s grven. Lender ~s au!hanzed to cotlect and a~~ply the proceeds. at ~is option, e~ther to restorat~on or repa~r of the Property or to the sums secu~ed by ih~s Secunty Instrument whether or not ihen due Unless ~ender and Borrower otherw~se agree m wnling, any appl~cation o! proceeds lo pnncipal snali not extend or ;:ostpone the due date of the monthly paymerns reterred to m paragraphs t and 2 to change the amount ot such payments 10. 8orrower Not Relessed; Forbearance By Lender Not a W~ver. Extens~on ot the t~me tor payment or modif~cat~on o'. arno~t~zat~on ot the sums secured by th~s Security !nstrument granted by Lender to any successor in ~nte?es! of Borrower shall not c~.,era~e to ~elease the t~ab~hty of the or,gmal Borrower or Borrower s successors m mterest lender shall not be requ~red to commence proceed~ngs aga~nst any successor in ~nterest or reiuse to extend t~me for payment or otherw~semod~ty amartization of the sums secured by th~s Secur~ty Instrument by reason of any demand made by the or~g~nal Borrower or Borrower's successors ~n ~n;erest Any brbearance by Lender m exerc~s~ng any nght or remedy shaii not be a wa~ver of or preclude the exercise of any nght er remedy 11. Succesaors and Assigns Bound: Joint and Severai LiaWlity; Co-stgners. The covenants and agreements of th~s Secunty instrurnent shail b~nd and benefit the successors and ass+gns of Lender and Borrower. sub~ect to the prov~s~ons of paragraph 17 Borrower's cover.ants and agreements shail be ~o.nt and several Any Borrower who co-s~gns this Security Instrumen! trut does not execute the Note: (a1 ~s co-s~gn~ng this Security Instrument oniy to mortgage grant ar,d convey tnat Borrower s ~nterest m the Property under the terms ot th~s Security Instrument; (b) ~s not personalty obl~gated to pay the sums secu~ed by th~s Secunty Instrument and i c) agrees that lender and a~y other Borrower may agree to extend. modrfy. forbear or make a~y accomrnodat,ons w~th regard to the terms of this SeCUnty Enstrument or the Note wdho~t that Borro~ti~er s consent 12. Loan Charges. It tne toan secu!ed oy th~s Secur,ry instrumeni ~s sub~ect to a!aw wh,ch sets max~mum loan charges. and that law ~s f~rally mierpreted so that the mterest or other !oan charges collected or to be collected ~n connect~on wrth the loan exceed the perm:tted I:m~ts. then ~ a) any such toan c.ha~ge shal~ be reduced by the amoun! necessary to reduce the charge tothe E;eirn~tted ~L and Ib1 any sums already collected from Borrotver ~vh~ch exceeded permiited !,m~ts w~ll be refundLd to Borrower Lerder may choose tr rnake trns re'und by reduc~ng the pnnc~;~al owed under the Note or by mak~ng a d~rect payment to Borrower. If a refurd reduces pnnc~pal ihe reduct~or. w.l! be treated as a partial prepayment w~thout any prepayment charge under the Note 13. Legisiation Attectlng lerxfer's Righls. If enactment or e~iraUon d appticable laws has the etfed d rerxiering Pr~~ ~~~ry9 the repayment terms, interest adjustments, or trans(er d property under the Note or this Securiry Instrument unenforceable according to its terms, Lender , at rts option, may require Borrow~r to modify the repayrnent te!ms, mterest acijustmeni terms, or transfer d property prOViSior?(s), as applicable, d the Note andlor [he 5ecurity Instrument The new term(s) shall not increase the Note interest rate to a rate greater than ; the rate Lender woufd have offered Borrvwer on the date d the Nete for a 30-year fixed rate ban in the same or~ginal prinapa! amourd as the Note ; If Lender exercises this option. Lender shall g~ve notice to Barower, specrfying: (a) the action required to mod~(y the applicable term(s) i d the Note and the Security Instrumeni; (b) a dat~ not less than 90 days from the date the notice is given to Borrower, by wh~ch the modrfication ~ must be completed; and (c) that failure to complete the modrfication on or before the date specified in the not~ce may result m acceleration d the sums secured by the Security Insirument. Ii Borrower fails to take the adion required to effect the modrfication within the specified Ume, Lender may invoice any remedies permitted by the Security Instrument without fuAher notice to or demand on Borraw~er. i ~ 14. Noticea. Any not;ce to Borro~ver prov~ded for m th~s Secur;ty Instrument shal! be given by dehvenng ;t or by ma~l~ng ~t by f~rst class ma~~ unless appl~cable law requ~res use of anotner meihod The not~ce sr~all be d~rectedtothe Property Address or any other address Borro:ver des~anates by not~ce to ~ender Any not~ce to Ler,der shatl be g~ven by hrst class ma~l to Lender's address stated nere~n or any other address lender des~gnates by not~ce to 8orrower Any rohce prov~ded tor m this Secunry lnstrument snai~ be deemed to have been g~ven to Borrower ar Lender when g~ven as prov~ded ~n th~s paragraph ~ 15. Governing Law; Severability. Th~s Secur~ty In~trument shafl be governed by federal law and the ~aw of the ;~nsdiction in wh,ch the Property ~s iocated In the event that any p!ov~s~en or clause of ih~s Secunty Instrumer,t or the Note conflicis ~ ~ti,tn app~~cab~e law. such confl~ct snatl not affect other prov~s~ons of th„ Secunty Ir.strument or the Note wh~ch can beg~ven etfect .t•~thout the confl~chng provision To this end the p~ov~s~ons of th~s Secunty Instrument and the Note are declared to be severabte 16. Borrower's Copy. Borro~A:er shall be g~ven one contormed cooy of the Note ar,d a! ih~s Security Instrument 17. Transfer ot the Property or s Beneticial Interest in Borower. If alI o~ any part of the Rroperty ar any interest m rt ~s so;d or transferred lor a benef~c~al ~nterest ~n Borrotiver ~s sold o; transferred and Borrower is not a natural person) without lenc+er s n~~er :vr~tten ccnsert Lender may. at ~ts opt~on requ~re ~mmed~ate payment m ful! of a:l su~~~s secureci by this Secunty Instrument Hc,~vever tn~s opt~on shall not be exerc~sed by Lender rf ex~~c~se ~s proh+b~ted by federat !aw as of ?he dale of th~s Secur~ty • Instrurnent I! ~ender exerc~ses ?n~s opt;on Lender ~ hall g~ve Borro~.ver not~ce of acceleration The not~ce shall prov~de a per~od ef not ~ less ~han 30 days trom the date the nohce ~s dei~vered o~ Tc3~I~d w~?h~n which Borrow~r must pay ai! sums secur~d by th~s Securdy Instrument If Borro~.ver fa~ls to pay tnese sums pr~or to the exp~rat~on of th~s penod Lender may ~nvoke any remed~es perm~tted by ~ th~s Secunty InS!rument w~thOUt fUrtnPr nOtiCB Or d~m8nd Gn BOrrOwer ~ 18. Horrowe~'s Right to Reinstate. If Borrower meets certa~n cond,t~ons. Berrower shali have the right to have ~ ~nfercement ot sh~s Secur~ty Irstrument d~s~~n!~nued at any t~R~epncr?o!he earl~er of: ~ a) 5 days (or such other per~od as applicab!e ~ar~ may spec~iy for re~nstatementl before saie of the Property pursuar~t to any power ot sale conta~ned m th~s Secunry Instrumeni: ~ or Ib~ entry ot a ~udgmer:t er,fqrC~ng ?his Secur?y Insir;;men! Those Gond!t,ons are that Borrower (a1 pays Lender aH sums wh~ch ~ ?~en wou'd b~ d:,e under !h~s Secur~ty Ins!rur~.~:r„ and the Note had no accelerat~on c~curred. (bl cures any defauit of any other ~ cv~.~enar~s cr ayreemenis. !c; E~ays ali ex~;~ r:ses mcurred ~n entorc~ng th~s Secur~ty Instrumen?. ~nduding. but nol i;m~ted to. ~ eooK 674 P~cE1871 ~ ~ ~ ~ _ _ _ - _ _ _ - ~ _ _ '-•3' ~m>i. '"3-v~.W' "Sf"a-- .T~ ,ex mi-:v..~~~`:~aa~5~`"c~".~'~~..3~~""Y..`