The URL can be used to link to this page

Home My WebLink About1908 f ~ ~ If•Lendrr reyuirrd mur~gage insurance as a condition ol makina the Ic~an ~ecurrd by this Securit~~ In~trument, BurroHer shall pa~ thr prrmiums reyuirrd tu maintain the insurance in effe.,t until such time as the reyuirement for the in~urancr trrminates in aca~rdance with Borru«er's and Lender's written agreement or applicable law. 8. Insptction. l.ender or its agent ma~• make reasonable entries upon and inspc:ctions of the Property. Lender shall gi~~e BorraHer notice at the time of or priar to an inspection specif~•ing reasonable cause far the inspection. 9. Condemnation. The p~oceeds of an~~ aHard or claim for damages, direct or conseyuential, in connection W ith an~~ condemnation or other taking of any part of the Property, or for conve~•ance in lieu of condemnatian, are hereb~• as,igned and shall be paid to Ler~der. In the event af a total taking ot the Property, the praceeds shall be applied to the sums secured b~• this Securit}• Instrument, whrther or not then due, with an~~ excess paid to Barro~er. In the event of a partial taking of the Property, unle,s Barrower and Lender otherw ise agree in riting, the sums secured b~~ this Securit~• Instrument shall be reduced b~• thc amount of thr proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediatel~~ before the taking, di~~ided by ( b) the fair market ~alue of the Properh~ immediatei}~ before the taking. Any balance shall be paid to Borrower. If the Propert~~ is abandoned b~• BorroH-er, or if, a~ter notice b}~ l.ender to Borrow~er that the condemnor offers to ~ make an aHard or settle a claim for damages, Borrower fails to rc_r _~:~d to l.ender within 30 days after the date ihe notice is gi~en, Lrnder is authariied to collect and apply the proceeds, at its option, either to restoratian or repair of the Propert~~ or to the sum~ secured b~ this Securit~~ Instrument, vrhether or not then due. l) nless Lender and Borroaer otherw ise agree in K riting, an~~ application of proceeds ar principal shall not extend or postpone the due date of the monthl~~ pa~~ments referred to in paragraphs I and 2 or change the amount of such pa~~mrnts. 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Ex~ension of the time for payment or moditication of amortiiation of the sums secured b~~ this Securit~• Instrument granted by lender to am~ successor in interest of Borrower shall not opcrate to release the liability of the original Borro~•er or BorroNer's successors in interest. l.ender shall not be reyuired to commence proceedings against an}• successor in interest or refuse to ertend time far pa~•ment ~r otherwise modify amorti~ation of the sums secured b~• this Security Instrument by reason of any demand made b~• thc original Borroaer or Borrower's successors in interest. An~~ forbearance by Lender in exercising any right or , remed~~ shall not be a wai~~er af or preclude the exercise of an~~ right or remed~•. ! 1. Successors and Assigns Bound; Joint And Several Liability; Co-signers. The co~ enants and agrcements of this Securit~~ Instrument shall bind and benefit the successors and assigns of l.ender and Borrower, subject to the pro~~isions of paragraph 17. BorroHer's co~~enants and agreements shall be joint and se~•eral. An}• Borrower w~ho co-signs this Securit~• Instrument but does not execute the Note: (a) is co-sig~ing this Security tnstrument only to martgage, grant and con~~e~~ that Borrower's interest in the Propert}~ under the terms of this Securit~~ Instrument; (b) is not personalh~ obligated to pa~• the sums secured b~~ this Securit~• Instrument; and (c) agrees that Lender and am~ other Berrower ma~ agree to extend, modifj•, forbear or make am• accommodations ~~ith regard to the terms of this Securit~~ Instrument or the \ote µithout that Borroµer's c~~nsent. 12. Loan Charges. If the loan secured b~~ this Securit~• Instrument is subject to a law H hich set~ maximum loan charges, and that laN is finalh~ interpreted so that the interest or other loan charges collected or to be coilected in connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced b}• the amount necessar~• to reduce the charge to the permitted limit; and (b) an}• sums alread~~ collected from Borrower u hich exceeded permittcd limits ~~ill be refunded to Borrower. Lender ma~~ choose to make this refund b~~ reducing the principal owed under the lote or b~ making a direct pa~ ment to Borrowrc If a refund reduces principal, the reduction ~cill be t~eated as a partial prepa~~ment Hithout an~~ prepa~~ment charge under the :~ote. 13. I.egislation Aitecting I.ender's Rights. If enactment or expiratian of applicable (aws has the effect of ' rendering an~~ pro~ision of the lote or this Securitr Instrument unenforceable according to its terms, Lender, at it, ~ optian, ma~~ reyuire immediate pa~ment in full of all sums secured b~~ this Securit~~ Instrument and ma~ imoke an~ ~ remedie. permittcd b} paragraph 19. lf Lender exerciscs this option. Lender shall take the steps specified in the ~ec~~nd j paragraph of paragraph 17_ ! 14. Notices. Am~ notice to BorroHer pro~ ided for in this Securit~~ Instrument shall be gi~en b~~ dcli~ering it or b~ mailing it b~~ first class mail unless applicable la~+ reyuires use of another method. The notice shall be gi~~en b~~ first clatis ~ mail to l.ender's address stated herein or am~ other address Lender designates bt~ notice to Borrowec An}~ notice pro~ ided ~ for in this Securit~ Instrument shall be deemed to ha~e been gi~en to Borrowcr or Ixnder when gi~en as pro~ ided for in this paragraph. ; 15. Governing I.aw; Severabilit}~. This Securit~~ Instrument shall be go~erned b~~ federal la~~ and thc law of the ~ jurisdiction in H hich the Propert~ is located. In the e~ent that am~ pro~ ision or clause of this Securit~~ Intitrument or the ~ \ote conflicts w ith applicable law, such contlict shall not affect other pro~ isions olthis Securit~~ Instrument and the \ote are declared to be se~erable. ~ 16. Borrow~er's Copy. Borroµer shall be gi~en one conformed cop~~ of the'~ote and of this Securit~ lnstrument. 17. Transter of the Property or a BeneficiAl {nterest in Borrower. lf al! or an~• part of the Propert}• or an~~ interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) N ithout Lender's prior w ritten consent, Lender may, at its option, reyuire immediate pa}~ment in full of all sums secured b} this Sccurit~~ lnstrument. ~ If Lender exercises this option, t_ender shall gi~~e Borrower notice of acceleration. The notice shall provide a period of not less than 30 da}•s from the date the notice is delivered or mailed within which Borrower must pa}~ all sums secured by this Security Instrument. if Borrower fails to pa~• these sums prior to the expiration of this period, 1_ender ma~~ involce any remedies permitted b1~ this Security Instrument without further notice or demand on Borrow~er. s 18. Borrower's Right to ReinstAte. If Borroµer meets certain conditions,.Borrouer shall ha~~e the :ight to ha~c cnforcement of this Security I nstrument discontinued at any time prior to tne earlier of_ (a? 5 da~~s (or such other period as appficablc law mac Specif~~ for reinstatement) before;ale o~the Propzrt}~ pursuant toan}• power of sale contained in thi. Securit~• Instrument: or ( b) entry of a judgment en(orcing thiti Securit~~ Instrument. "Those condition~ arc that Rorro~+rr: ~ la1 pa~, I.ender all ~ums which then would br due under this Securit~~ Instrument and the tiote had no acceleration ~ occured; (b) cures an} default o( anc other co~enant, or agreements; (c) pays aU expenses incurred in cnforcing this ~ Securit} Instrument, including, but not limited to, reasonable attorne}~s' fees: and (d) takes such action as Lender ma~~ ~ rca,onabl~ reyuire to assure that the licn of this Securit~~ Instrument, Lender's right~ in the Propert~~ and BorroNer's obligation to pa~ thc sums sccured h~ this Securit}~ Instrumcnt shall continue unchanged. Upon reinstatement b} ~ Borrower, thiti Securit~~ In.trument and the obligations secured hereb~~ shall remain full}~ effecti~~e as if no acceleration ~ ~ad occurred. Ho~+e~er. this right to reinstate shall not apply in the case af acceleration under paragraphs I; or 17. ~ ~ ~ BOOK ~~O PACE~O~O 5 eaoK 674 ~cE1908 P ~ . _ ra ti: .~_~.i~ " y,_..... . . . ~ ~"~.~~''~'~.a~, ~ . =