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Home My WebLink About2404 . , • . r • If Lender rryuired mortgage insurance as a condition of making the loan secured by this Security Instrument, B~~rr~~~~rr ,hall pa~~ the premiums required to maintain the insurance i~ eRect until such time as the requirement for the intiuranre terminates in accordance with Borrower's and Lender's written agreement or applicable law. 8, Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender sh~ll gi~ r Borruwer notire at the time of or prior to an inspection specifying reasonable cause for the inspee:tion. 9. Condemnation. The proceeds ot'any~ aw~ard or claim for damages, direc:t or consequential, in connection with ~n~ ron~iemnation or other taking of any part of the Property, or for conveyance in lieu of rondemnation, are hereby assigned and shall be pa~d to Lender. In the event of a total taking af the Property, the pra:eeds shall be applied to the sums secured by this Security In~trument, w~hether or not then due, with any excess paid to Borrower. In the event oPa partial taking of the Property, unless Borraw~er and Lender otherw~ise agree in writing, the sums secured by this Security Instrument shall be reduced by~ the amount of the proceeds multiplied by the following f'raction: (a) the total amount of the sums secured immediately before the taking, di~~ided by (b) the fair market value of the Property immediately before the taking. Any balance shall be p~id to Borrow~er_ If the Property is abandonecl by Borrower, or if, after notice by Lender to B~rrower that the condemnor offers to make an award or settle a claim for damages, Rorrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of s~ch payments. 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Ettension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrow~er shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherw~ise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a w•aiver of or preclude the exercise of any right or remedy. 11. Successors and Assigns Bound; Joiat and Sereral Liability; Co-signers. The covenants and agreements of ~ this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the prpvisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security ~ Instrument but does not eaecute the Note: (a) is casigning this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay ~ the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. I.ender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principai, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 13. Legislation Affecting Lender's Rights. If enactment or eapiration of applicabie iaws has the effect of rendering any provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option, may re uire immediate a ment in full of all sums secur 9 p Y ed by this Securit Instrument and ma invoke an remedies . Y y y perm~tted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of paragraph 17. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directeu to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law af the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the ti'ote conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note w~hich can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the tiote are declared to be severable. 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. l7. Transfer of the Property or a Beneficial Interest in Borrower. if aU or any part of the Property or any 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) without Lender's prior written consent, Lender may, at ~ts option, require immediate payment in full of all sums secured b} ihis Security~ Instrument. However, this option shall nor be exercised b}• Lender if exercise is prohibited b~• federal law as of the date of this Security Instrument. If Lender exercises this option, Lender shall give Burrower nohcr of acceleration. The notice shall provide a period ~ c~f not less than 30 days from the date the natice is delivered or mailed w•ithin which Borrower must pay~ all sums secured b~~ = this Securit}~ lnstrument. If B~rrow~er tails to pay these sums prior to the expiration of this period, Lender ma~~ invoke any~ ~ remedies permitted b~~ this Security~ Instrument without further notice or demand on Borrow~er. F 18. Borrower's Riqht to Reinstate. If Borrow~er meets certain conditions, Borrower shall ha~~r the right to hatie ~ enfc~rcement ~~f thi~ Serurit}~ Instrument disconiinued at any time prior to the earlier uf: (3) 5 da~~s (or such other ~ericid ati a~piicahle la~~ ma~ Sperif~~ for reinstatement) before sale of the Propert~~ pursuant to any~ ~w~er of sale containe~l in this Securit~ Instrument; c~r (b) entry of a judgment enforcing this Security In1trument. Thcne ronditions are that Borr~wer: (a) pa}ti Lender all tium~ which then w~ould be due under this Security Instrument and the Note had no acreleratt~n ~ c~rcurred: (b) ~ure~ an~ default of an~~ other covenants or agreements; (c) payti all expentes incurred in enfi~rcing th~~ Serunt}~ Intitrumen~. ~n~luding, but nnt limited to, reasonable att~rne~~s' fee~; and (d) take< <uch action as 1_ender ma} reationahl~ rryuirr tc~ ;~tiwre that the lien of this Security Instrument, Lender's nght~ in the Prc~pert~ :~nd Bc~rrower'ti ~ obhgat~tin t~, ~a~ thr ~um, tiecured by this Securit~~ Insirument shall c~?nhnue unih:~nged. l'~xm reintit:~tement b~ ~ B~rrc~Her. thiti Se.unt~ lmtrument and the obligationti 5ecured herrb} shall rrmain full~ rflrrti~r ati ~f n<~ arcelerati~n had ~ ~~rurred H~~~~c~ er. thi~ n~ht to reinstale shal) ne~t ap~l~ in the ratie ~if a~releraU~m und~ r r;~ragrarh~ I 2 iir 17 ~ ~ E001( V~~ PACE2~O~ ~ . - - - - - - - ~y _ - . 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