The URL can be used to link to this page

Home My WebLink About0022 . . - • ' , . Il l.~n~1~r r~yuir~d ~n~~rtga~;r lI1~Ui.iI1Cc .i, a c~~nditi~m ~~f m:?king the loan .erurrJ by this Serurit}' In.trument. 13~~rr~~~~rr .hall ~u~ thr ~rrmium, r~yuireci t~~ ma~ntain the insurance in etlect until such time a~ ihe reyuiremcnt i~ur thr in,ur:?n~~ terminat~~ in a~r~~rdcinre ith Bc~rrc~~~ er'ti and Lender's writte~ agreement or a~plicahle la~?. 8. lnspection. I_rnder ~~r itti agent ma~~ make reasonable entric~c u~n and i~ispections of the Propert~~. Len~ier .h;~11 ci~r I~urru~~er n~~tirt at the timr usur ~rior to:in inspcction ~pecifying reasonable rause for the inspe~tion. 9. Condemnation. Thr ~ror~ed~ ol an}~ a~+~ird or claim for damages, direct or ronseyuential, in ronnerti~~n ~~ith :111~' Cl~ll(~tl11R311(~~I l~?' (~Ihr~r 1•il;!r~a :~f ~ ~,.f ~L~_, ui~~"~ii` ~ii iiii LVI~I~C)QIII;C 111 IICU l)1 l'OIIUCfI1I1:lI11)il, ilfC h~reb~~ • -•c . , as.igned :ind shall he ~aid t~~ Lender. [n the e~rnt of a t~~tal taking of the Pro~c:rt~•, the pnxeeds shall be applied to the sums serured by~ tt~i. Security~ In~trument, ~~hether ~~r nclt then dur, w~ith an}~ excess paid to Borrower. In the e~~ent of a partial taking of the Pmpert}•, w~lctis Barro~~er and l~ender otherw~ise agree in ~riting, the sums sc~ured b~~ this Se~urit~~ Instrurnent shall be r~duced b~~ the amount c~f the prch:eeds multipfied by the follow•ing fraction: (a) the total amount oP the sums serured immediatei~~ hefore the taking, di~ ided by (b) the fair market value of the Property immediately before the taking. Any bafanre shall be ~aid tc~ Borrou~er. If the Pro~n~ is abandaned b}~ Borrow~er, or if, after notice b~• Lender to B~~rrower that the condemnur offers to make an a~~ard or settle a rl.~im for damages, Borrower fails to respond to Lender within 30 da~•s af'ter the date the r.otire is given. Lender is authorized to cal{ect and appl}~ the pr~xeeds, at its option, eitl~er to restoration or repair of the Propert~' or t~~ the sums secured b~• this Serurity Instrument, whether or not tfien due. Unlzss Lender and Bormw~er otherwise agree in writing, any application of proceeds to principal shal{ not extend or ~u~tp~~ne the due date of the monthl~~ payments referred ro in paragraphs 1 and 2 or change the amount of such pay ments. 10. Borrower \ot Released; Forbearance By Lender Not a Waiver. Extension of the time for payment c~r n~~~difiration of amortization o~ the sums seeured by this Security Instrument granted by Lender to any successor in int~rest af Borrower shall not operate to release the liability of the origina! Borrower or Borrow•er's successors in interest. L~nder tihall not be required to rommence proceedings against any successor in interest or refuse ta extend time for ~a~ ment or other.~~ise modify amortization of the sums secured by this Security Instrument by reaton of any demand made h~ the original Borrow~er or $orro«~er's successors in interest. Any forbearance by Lender in exercising any right or remedy .hail not be a w•aiver of or preclude the exercise of any right or remedy. 11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The co~•enants and agreements of t h~s Securit} Instrument shall bind and benefit the successors and assigns of Lender and Borrov?~er, subject to the prov:sions ~~f paragraph I Borrower's covenants and agreements shall be joint and severaL Any Barrower w~ho co-sigiis thir Securit~~ In~trument but does not execute the Note: (a) is co-signing 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 personall}' obligated to ha}• the sums secured b~~ this Security Instrument; and (c) agrees that Lender and any other Borre~wer may agree to extend, modif~•, forbear ~r make an}~ accommodations w~ith regard to the terms of this Security lnstrument or the N~~te w~ithout ~ that Borro«•er'scansen[. i 12. I.oan Charges. If the loan secured by this Securit}~ Instrument is subject to a taa which sets maximum l:~an ~harges, and that law~ is finally interpreted so that the interest or other loan charges collected or to be collected in ~onnection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced b}• the amount ?~ecessar~~ to reduce the cfiarge to the permitted limit; and (b) any sums already collected from Borrower which ezreeded nermitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal ow~ed under the Note or b}~ making a direct payment to Borrower. If a refund reduces principal, the reduction N•ill be treated ati a ~artial prepa}~ment without anp prepayment charge under the Note. ~ l3. Legislation Affecting Lender's Rights. If enactment or expiration af applicable law~s has the effect of rendering any provi„on of the Note or this Security Instrument unenforceable according to its terms, Lender, at it~ option, ~ rna~~ require immediate pa}~ment in full of all sums secured by this Secu~it}' Instrument and may im-oke any remedies ~ ~crmitted b}~ paragraph l9. If Lender exercises this option, Lender shail take the steps specified in the second paragraph of ~ ~~aragraph I7. ' 14. \otices. An}~ notice to Borrower pro~~ided for in this Security Instrument shall be given b}' delivering it or b}~ mailing it by first class mail unless applirable law requires use of another method. The notice shall be directed to the sg Yroperty Address or any~ other address Borrow~er designates by notice to Lender. Any notice to Lender shall be given b~~ E first rlass mail to Lender's address stated herein or any other address Lender designates b~~ notice to Borrow~er. An}~ notice ~ro~ ided for in this Secunty Instrument shall be deemed to have been giveo to Borrowec or Lendet when gi~•en as provided in this paragraph. s 15. Governing Law; Severability. This Securit}~ Instrument shall be governed by federal law and the law of the 1i1FiSC~1CtiOn in w'hich ihP PrnnPrtv ic 1rv_~ato~_ T~ rl~` i~u( ui.j FrT~"vi~ivii uT ~iau~C UI lnlS JCl'U~l[y instrument ~r thc ° tiote rnnflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument ~r ihe Note hi~_h can be gi~en effect without the confticting provision. To this end the provisions of tfiis Securit}• instrument and ihe `ote are declared to be severable. 16. Borrower's Copy. Borrow~er shall be given one conformed cop}~ ~f the Note and of this Security~ ln`trument. l7. Transfer of the Property~ or a Beneficisl Interest in Borrower. If all or any part of the Pra},ert~~ or an} interest in it is sold or transferred (or if a beneficiai interest in Borrou~er is sold or transferred and Borroµ~er is nc~t a natural ~~rson) without Lender's prior w~ritten consent, Lender ma}~, at its option, reyuire immediate pa}~ment in fuli of all sums ' ~ecured b~~ this Securit~~ Instrument. Ho~~e~er, this option shal! n~t be exercised by Lrnder if exercise prohibited b~~ federal law as of the date of this Securit}~ Instrument. It' Lender exercisrti this option, Lender shall gi~•e Borraw~er notire of acceleration. The nc~tire shall proride a period ~~t nc~t les~ than 30 da} ti from the date the notice is deli~~ered or mailed withiri which Borr~w~cr must pa} all tiums tiecured b~ thi~ Securit}~ Instrurrtent. If Borrower fails to pay- these sums rrior to the expiration ~f this ~eriod. Lender ma~ in~~+ke an~~ r~medies permitted by~ thi~ SeLUrit~~ Instrument w•ithout further notice or demand on E3orrower. 1~. Borrower's Right to Reinstate. If Eiorrow~er meets certain conditi~ns, Borrow~er shaN ha~e the right to ha~e ~nf<~rcement of this Securit}~ Instrument diticontinued at an}~ time prior to the eaelier of: (a) 5 da~s (~r such other peric~d as a~plirahle la~~~ ma} tipecif~ fc~r reintitatement) before sale of the Property pursuant to an}~ ~~cer of sale contained in this Secunt} In;trument: or tb) entr} ~~f a judgmeni enforcing this Security In~trument. Those conditions are that Borrower: !a) pa)~ Lender a+i tium5 w~hich then a~oufd be due uncier this Security Instrument and the Note had nn acceleration ~~rcurred; (b) cures any default c~f an~ other co~•enants or agreements; (c) ~ays ail ex~enses in~urred in enForcing this Security~ Instrument, inrluding, but n~~t limited to, reasonable attorneys' fees; and (d) take~ such action as Lender ma}~ reas<mably reyuire t~~ assure that thc lien of this Security Instrument, Lender's nghts in the Yroperty and Borrower's ;~biigation to pay the tums secured b}~ this Securit~• [nstrument shall continue unchanged. Upan reinstatement b}~ f3orre~w~er, this Sec~rit} lnstrument and the ~bligations secured hereb}~ shall remain fully efTective as if no accel~ration had ~~rcu: red. H~we~er, thi~ right to reinstate sha{i not app{y in the case c~f acceleration under pa: agraphs i 3 or 17. BooK 675 ~A~ 022 - ~ a