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Home My WebLink About2555 • ~ ~ - If L~~nder required mortgage insurance es e condition of making the loan secured by thls Security InsWment, Borrower shaN pay the premiums requited to maintain the insurance in eitect unGl such iime as the requirement (w the insurance tertninaiea in accordance with BoROwer's and Lender's wririen agreement or applicabie law. • • 8. InSpeCtiOn. Lender or its agent may make reasonab{e ehtries upo~ and hspections of the Property. Lender shaU give Borrower notice at the qme of or prior to an inspection spedtying reasonable cauae (or ths hspecUon. 9. COndemnetiOn. The proceeds of eny award or clakn for demagea, direct or conaequentlal, h connectlon with any condemnaUon or other taking of any paA of the Property, or tor conveyance in ~eu of condertnaUon, are hereby aaalgned and shar be paid to Lender. In ihe event of a total taking oi the Property, the proceeds shaM be appied lo the suma aecured by this Security Instrume~t, whether or not then due, with any excesa paid to Borrower. In the event ot a partial taking oi the Property, unless Bortowrer and Lender othervvise sgree ~n writing, the s~ms secured by this Security Instrument ahall be reduced by ihe amount of the proceeds multiplied by the IoMowing haction: (a) the total amount of the sums secured immediately betore the takhg, divided by (b) the tak marice! value ot the Praperty fmmediately beiore the taking. My batance shad be paid to SoROwer. It the Property fs abandoned by Borrower, or it, aiter notice by Lender to Borrower that lhe conderru~or ofters to make an award or setUe a c?aim for damages, BoROwer fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to co~ect and ~ appy proceeds, at its option, either to restoration or repair o1 the Properry or to the sums secured by this S~cxirity Instrument, whether br-not then due. ~ Unless Lender and Borrower otherwise agree in writing, any application of proceeds to prindpal shaN not extend or postpone the due date ~ ot the monthy payments reterred to in paragraphs t and 2 or change the amount of such payments. ~ 10. Borrower Not Released; Forbaarance By Lender Not A Watver. Extension ot the time tor payment or mod~~cation of amortization oi the sums secured by this Securiry InsVument c,Nanted by Le~der to any successor in interest oi Borrower shab not operate to release the liability of the original Bortower or Borrower'a auccessora ln interest Lender shaN not be requf~ed to commence proceedw:gs against any successor in interest or refuse to extend time fot payme~t or otherwise mod'ily artwRization of the sums secured by this Security ~ Instrument by reason of any demand made by the original Borrowe,~ or Borcower's successors in Mterest My torbearance by Le~der in exercising any right or remedy shaq not be a waiver of or predude the exerdse of any right or remedy. 11. Successors and Assigns Bound; Joint and Several Llability; Co-signers. The covenants and ag~ements ot this ! Security Instrument shall bind and benefit the successors and assigns of Lender and Barower, subject to the provisions ot paragraph 17. , Borcower's covenants and agreements shaN be joint and several. My Borrower who co-signs this Security Instrument but does not exec:ute the Note: (a) is co-signing lhis Sec:urity Instrume~t 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 Sec;urity Inswment; and (c) agrees that Lender and any other Borrower may agree to extend, modity, forbear or make any accommodations with regard to the terms ot this Security Instrument ot the Note without that Borrower's consent. 12. Loan ChBrges. li the ban secured by this Security Instrument is subjeG to a iaw which sets maximum loan charges, end that law is finafly interpreted so that the tt~terest or other loan charges coNected or to be coNected ~ connection with the loan exceed the pertnitted iimits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the petmitted Gmit; end (b) any sums aiready collected irom Borrower which exceeded permitted Grtxts w~l be reiunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. B a refund reduces prinapal, the reduction wiA be treated as a pariial prepayment without any prepayment charge under the Note. 13. Legislation AHecting Lender's Rights. If enactrnent or expiration ot app~cab~e laws has the eftect ot rendering any provision of the Note or this Security InsUument unentorceable accordu~g to its terms, Lender, at its option, may require immediate payment in (;;;I o( atl suns secured by this Security Instrument and may invoke any remedies perm:tted by para~raph f9. Ii Lcndr e~cerases this option, Lender shall take the steps spedfied in the second paragraph of paragraph 17. . 14. NotiCes. My notice to BoROwer provided tor ~ this Secxirity Inswment sha~ be gNen by de4vering it w by mailing R by flrst dass mail unless applicable law requires use of another method. The notice shaY be dkected to the Property Address or any other address Borrower designates by notice to Lender. My notice to Lender shaN be given by first dass mai to lender's address stated hefein or any other address Lender designates by notice to Borrower. My notice provided fo~ ~ this Security InsVument shaA be deemed to have bee~ given to Borrower or Lender when given as provided in this paragraph. 15. Governing Law; Severability. This Security InsUument shall be govemed by tederal law and the law of the jurisdictlon in which the Property is located. In the event that any provision or dause oi this Sec:urity InsVument or the Note conflicts with the appficable iaw, ~ ; such conflict shall not af(ect other provisions of this Security Instrument or the Note which cen be given eNect without the confticting provision. To this end the provisions of this Sewrity Instrument and the Note are dedared to be severable. i 16. Bort'owet''S COpy. Borrower shaG be given one coniortned copy oi the Note end of this Securiry Instrument. ~ 17. Transfer of the Property or a Beneflcial Interest in Borrower. I( a!I or any part oi the Property or any interest in it $ is sold or transierred (or if a beneficial interest in Borruwer is sold or transfeRed and Borrower is not a natural person) without Lender's prior ; written consent, lender may, at its opGon, requ'ae immediate payment in fuN oi aA sums secured by this Security Instrument. However, this 6 cption shall not be exerased by Lender if exercise is prohbited by tederal law es ot the date of this Security Instrument. i ~ ff lender exercises this option, Lender sha~ give Borrower notice of acceleration. The notke shaN provide a period of not less than 30 days ~ irom the date the notice is delivered or mailed within which Borrower must pay N sums secured by this Security Instrument. It Borrower tails € ~ to pay ihese sums prior to the e~iretion ot this period, Lende? may invoke any remedies permitted by this Security Instrument without turther ~ notice or demand on Borrower. ~ 18. Borrower's Right to Reinstate. 11 BoROwef ineets ce~tain conditions, Borrower shaN have the right to have en(orcement of ~ ?his Securiry Instrument discontinued at any time prior to the eariier of: (a) 5 days (or such other period as appGcable law may spacify ter reinstateme?~q before sale oi the Prope~ty pursuant to any power of sale contained fn this Securiry InsUument; or (b) entry ot a judgment ~ entorcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender ap sums whlch then would be due under this Security ~nstrument and the Note had no accel~ation occurra,d; (b} cur~s Lny defautt ot any other covenants or agreements; (c) peys aN expe~ses incuRed in en(orcing this Security I~strument, induding, but not limited to, reasonable attomeys' fees; and takes such action as Lender may reasonably require to assure that the lien of this Securiry InsVument, Lender's rights in the Property and Bprtower's obligaGon to pay the sums secured by this Securiry Instrument shatl continue unchanged. Upon reinstatement by Borrower, this Securiry InsVument and 1he obligaUons secured hereby shall remain fuliy effectrye as if no acceleration h~d occurred. However, this right to reinstate shaN not apply in the case of acceleration under paragraphs 13 or 17. f € r ~ ~ ~ ~ ~ ' ~ ~ _ Page 3 of 4 ~ ~ ~ :T~ (06~'99) 733 ~ r r ~ l 6~~~ 6~~ ? 1965 EQ~K fi74 P,,~E2555 k. ~ ..~^u~~"",.t~; -~r~-~ ~ ~