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Home My WebLink About2054 If Lender required murcgage insurance as a cundicion uf making the luan secured by~ this Securiry In- scr~ment, Burrower shall pay che premiums requirec~ co maintain che insurance in effecc until such cime as a requiremen~ Fur che insurance terminates in accurdance wich Borruwer's and Lender's written agreemenc or applicable law. 8. Inspection. Lender ur ics :~gent may make reasonable entries upon and inspectiuns of the Prupercy. Lender shall give Burrower nocice ar ehe time uf or prior to an inspection specifying reasunable cause Eur che inspeaion. 9. Condcmnacion. The pnxeeds of any award ur claim for damages, direce or consequenci;~l, in u~nneccion wich any cundemnaeiun or uther caking ~~f any parc ~>f the Property,or for ronveyance in lieu of condemnatiun, are hereby assigned and - shall be paid ro !_ender. ln the event uf a total takinK uf the Pruperry, the procec~ls shall be applied tu the sums secured by this ~ectirity lnscrument, whether or nut chen due, wich any excess paid co Burruwer. ln che evenc uf a parcial cakingof the Property, unless &~rruwer and Lender ~~cherwise agree in writing, the sums securec~ by this Securiry lnserumenc shall be reduced by che amounc uf the prexeeds multiplied by che folluwing fraction: (a) the tutal amount of the sums secured immediately befure taking, divided by~ (b) che fair markec value uf che Property immediacely before che taking. Any balance shall be paid to Burruwer. If the Property is abandoned by Borruwer, ur if, 3fter notice by Lender to Borruwer that the condemnor offers tu make an award ur seccle a claim for damages, Burruwer fails ~o respond co Lender wi~hin i0 days afcer che daee che nucice is given, Lender is authorized tu collecc and apply the prcxeeds, at its option, either to rescoration or repair of che Pruperty or a> ehe sums secured by ~his Securicy Inscrument, whecher ur nuc chen due. Unless Lender and Borrower o~herwise agree in wri~ing, any applicacion of pruceeds co p~incipal shall noc excend ur postpone che due date of the munthly payments referred to in paragraphs l and 2 or change the amounc uf such payments. ~ 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of che cime for paymenc ur moclificacic~n ~?f am~xtization of the sums secured by this Security Instrument granted by Lender co any successor in interest of Borruwer shall not operace to release the liabiliey of the original Borrower or Borrower's successors in incerest. Lender shall noe be required ro commence pruceedings against any successor in interes~ or refuse co extend time for pa~~ment or ocherwise muciify amureizatiun of the sums secured by rhis Securiry Inscrument by reason.of any demand made by cheoriginal Borrower ~ or Borrower's successurs in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver~of or preclude the exercise of any right ur remedy. f l l. Successors and Assigns Bound; Joinc and Several Liability; Co-signers. The covenancs and agreemencs oE chis ; Securicy lnscrumenc shall bind and benefic che successors and assigns of Lender and Burrower, subjea co che provisiuns uf ~ j paragraph 17_ Burruwer's covenants and agreements shall be joint and several. Any Borrower who cu-signs this Security ! ~ Instrument but dues nut execure the Note: ( a) is cu-signing this Securiry Instrument only to mortgage, grant and convey that j I Burruwer's inceresc in che Pruperty under che terms of chis Security Inscrumenr, (b) is nuc personally obligaced co pay che ~ j sums secured by chis Securicy Inserumenc; and (c) agrees chac I.ender and any ocher Burrower may agree co excend, mex~ify, ~ forbear or make any accumm~~ations with regard to the terms of this Security Instrument ur the Noce without that ~ ~ &~rrower's c~~nsent. ~ i 12. Loan Charges. If the luan securecl by this Securiry Instrument is subject a law which sets maximum luan ~ I charges, and that law is finally interpreted so thac the interest or other loan charges collected or to be collected in eonnection i with the loan exceed the permitted limits, then: (a) any such lusn charge shall be reduced by the amounc necessary to reduce ~ ~he charge co che permicced limir, and (b) any sums already collecced from Borrower which exceeded permicced limics will be ~ ~ refunded eo Born~wer. Lender may ch~wse co make chis refund by reducing che principal owed under the Note or by making a ~ direct payment to Borruwer. lf a refund reduces principal, the reduction will be treated as a parcial prepayment wichouc any prepayment charge under the No~e. 1 i. Legislacion Affecting Lender's Rights. If enaccment or expiracion of applicable laws has che effecc of rendering I any provisiun of the Note or this Security Instrument unenforceable according to its terms, Lender, at its uptiun, may require i immediace payment in full uf all sums secured by this Security Instrument and may invoke any remedies permitted by 1 paragraph 19. If Lender exercises this option, Lender shall cake che sceps specified in the secund paragraph of paragraph 17. ~ 14. Notices. Any nocice co Borrower provided for in this Sectiriry Inscrumenc shall be given by delivering it or by mailing it by firsc dass mail unless applicable law requires use of another me~hod. The noiice shall be directed co che Propercy 3 Address or any ocher address &~rrower designaces by nucice to Lender. Any nocice to Lender shall be given by firsc class mail to Lender's address scated herein or an ocher address Lender desi nates b nocice co Borrower. M nocice rovided for in ~ Y B Y Y P ~ this Sectirity Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. ~ I5. Governing I.aw; Severability. This Security [nstrument shall be governed by federal law and the law of the jurisdicciun in which che Propercy is Icxaced. ln the evenc chat any provision or clause of this Securicy Instrument or the Note cunfliccs wich applicable law, such conflict shall nut affecc other provisions of this Securiry lnstrument or the Note which can be given effect ~viehuuc che c~nfliccing provision. To chis end che provisions of chis Securicy Instrumenc and the Note are declared to be severable. ' 16. Borrower's Copy. Borrower shall be given one confurmed copy of che Note and of this Security Instrument. l7. Transfer of the Propeny or a Beneficial Interest in Borrower. lf all or any part of the Prupercy or any ~nterese in it is sold or transferred (or if a beneficial incerest in Borrower is sold or cransferred and Borrower is noc a natursl perwn) without Lender's prior written consent, Lender may, at its optiun, require immediate payment in ful( of al1 sums secured by chis Securiry Inscrument. Nowever, chis uption shall not be exercised by Lender iFexercise is prohibited by federal law as of che dace of chis Securicy Inscrument. If Lender exercises chis opcion, Lender shall give Borrower notice of acceleration. The notice shall provide a periud of noc less than i0 days from che dace che nocice is delivered or mailed wichin which Borrower must pay all sums secured by chis Security Instrumenr. If Borrower faits to pay these sums prior to the expiracion uf this period, Lender may invoke any remedies permitced by this Security Instrumenc wiehuuc further notice or demand un Bvrrower. 18. Borrower's Right to Reinstate. lf Borrower meecs cercain condicions, Borrower shall have che righc co have enforcemenc of chis Security lnstrument disconcinued at any cime prior co che earlier of: (a) 5 days {or such ocher period as applicable law may specify for reinstacemenc) before sale of che Properry pursuant co any power of sale concained in this Se- curity Instrument; or (b) entry of a judgment enforcing this Security Inscrumenc. Those condicions are chac F~rrower. (ai pays Lender all sums which then would be due under this Securicy Instrumenc and che Noce had no acceleracion occurred; (b} . cures any default of any oeher convenanes or agreemenes; (c) pays all expenses incorred in enforcing this Security Inscrumenr, induding, buc noc limited to, reasonable accurneys' fees; and (d) takes such action as Lender may reawnably require co as- sure thac che lien of chis Security lnstrumenc, Lender's rights in the Propercy and Borrower's obligation co pay the sums secured by chis Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Securicy Instrumenr and the obligaciuns secured hereby shall remain fully effeccive as if ~o acceleration had occurred. However, this righe co reinscate shall noc apply in che case of acceleracion under paragraphs 13 or 17. BOOK 674 P~E205~ _ ~u; - . - - - _ . .,~.z,. _ . _ : . _ ~ ~ a ~ y . - - ~ -