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Home My WebLink About0804 . ~ • ' . _ ~ 3 .3 ~ It~ I_enc~~r reyuired mortgage in5urance as a cond~t~on of making thr lu~n sc~ured bp this Secenty lnstrument, E3urr.~Her ,hall ~a~ thr prem~ums required to maintain the insurance in effec~ until such time as the reyuirement for the ~ in~urance term~natr~ ?n ac~e~rdanre w ith Borrow~e~'s and Lender's written agreement c~r applirable law. 8. Inspection. Lender or its agent may make reasonable entries upon and ins~ectiuns af the Propert}. Lender ~ ~hall gi~ e B~~rrow er nc~tice ;~t Ihe time af «r prior to an ins~ction specif~~ing reasanable rause for the inspectiun. j 9. Condemnation, "Che pr~keeds of an~• award or claim for damagcs, direct or cunseyuenUal, in connertian with ~ an~ cun3emnation ur ~~ther taking ~~f ~n~~ p:~rt ~~f thr Pruprrty, ur fur l~)il~Cj3iiCC in liru of condemnation, ar~ hereby ati,~gnrd and shall t~ paia to Lender. _ ln the e~ent of a total taking of the Prupert~, the ~nxeeds shall t~ applied tu the tiums secured by this Serurity ~ IntitrUment, w~hether or not then due, w~ith an~~ excc~ss paid to Borrou~er. In the e~ent of a partial taking of the Properl~•, ' unle~s Borrower and Lender otherw~ise agree in writing, the sums secured by this Security Intilrument shall be reduced b}' ~ thr am~~unt of the proceeds multiplied by the fofioW ing fraction: (a) the total amount of the sums secured immediately~ hef~~re the taking, di~•ided b~~ (b) the fair market ~~alue of the Property immediatel~• bef~~re the taking. Any balance shall be = ~aid to Borrow~er. ~ If the Pruperty is abandoned b~• Borrow•er, or if, after notice b~~ Lender to E3urrow~er that the condemnor offers to make an aw~ard or settle a rlaim for damages, Borrow~er fails to respond to Lender w ithin 30 days after the date the nohre is gi~ en, Lender is authorized to collect and appl}~ the pr~eeds, at ~ts option, either tu restoration or repair of the Pruperty or ~ the sums secured by this Serurit~• instrument, H•hether or not then due. Unless Lender and Borrow~er otherw~ise agree in writing, an~~ application uf pr~eeds tc~ principal shail not extend or ~u~tpune the ~iue date of the manthly payments referred to in paragraphs 1 and 2 or change the amaunt of surh pa~~ments. 10. Borrower tiot Released; Forbearance By Lender Not a~ti'aiver. Extension af the time for pa~ment or y rnudification of amortization of the sums secured by this Seeurity Instrumem granted h}~ Lender to an~~ sucressvr in interest of Borrow~er shall not operate to release the liability of the original Borrower ur Borrow~er's succc~sors in interest. 1.ender shall not be required to commence proreedings against an}~ sucressar in interest or refuse to extend time for ~ay~ment or othenrise modif}~ amartization of the sums secured b}~ this Securit~~ Instrument b~ reason of any demand made hy the original Borrow•er or Borraw~er's successors in interest. Any f~~rbearanre b~• Lender in exerci~ing any right or remedy ,hall not be a w~aiver of or preclude the exercise af an~~ right or remed}~. 11. Successors and Assigns Bound; Joint and Several I.iability; Co-signers. The covenants and agreernents of ; his Securitp Instrument shall bind and benefit the successors and assigns of Lender and Borrow~er, subject to the provisions c~f paragraph 17. Borro~er's co~enants and agreementti shall be joint and several. An~~ Borrow~er w~ho co-signs this Securit~• Intitrument but dcxs not execute the tiote: (a) is ro-sign~ng this Security Instrument only~ to mortgage, grant and com~e~• - tt~at Borrower's interest ~n ~he Pri~pe~t}~ under the terms of this Security Instrument; (b) is not pc:rs~nall}~ obligated to pa}~ the sums secured b~~ this Serurit}~ Instrument; and (c) agrees that Lender and any~ other B~rrow~er may~ agree to extend, ~ ~,«aify, forbear ur make any arre~mmodations w~ith reg~rd to the terms of this Security Instrument or the Note w•ithout : that Borrow~er's consent. 12. Loan Charges. If the loan secured by this Security Instrusnent is subject to a law w~hich sets maximum loan - rharges, and that law~ is finall}~ interpreted so that the interest or other loan charges collected or to be collected in ~unnection ~~ith the loan exceed th~ permitted limits, then: (a) any such loan charge shall be reduced b}~ the amount necessar}~ ro reduce the charge to the permitted limit; and (b) an~~ sums already collected from Aorrow•er which exceeded ~ ermitted limits will be refunded to Borroa•er. Lender map choose to make this refund b}~ reducing the principal owed under the Note or by making a direct payment to Borrow~er. I(a refund redures principal, the reduction w~il! be treated as a ~artial prepayment w~ithout an~~ prepa}~me~t charge under the Note. 13. Legislation Affeeting Ixnder's Rights. If enactment or expiratiem of applicable taws has the effect of rendering an} pro~ision of the Note or this Security~ Instrument unenforceable accor~ing to its terms, Lender, at its option, ma}~ require immediate pa}~ment in fuli of all tums secured b~ this Securit}~ Instrument and may invoke any remedies ~ermiued b}~ paragraph 19. If Lender exercises this option. Lender shall take the steps ti~xcified in the second paragraph of . ~aragraph 17. ' 14. \otiees. An}~ notice to Borrow~er pro~~ided for in this Security Instrnnzent shall be gi~~en b~~ delivering it or by mailing it by~ first class mail unless applicable iaw~ requires use of another method. The notice shall be directed to the ; Yroperty- Address or any other address Borrow~er designatc~ by notice to Lender. An}~ notice to Lender shall be gi~~en b~~ hnt class mail to Lender's address stated herein or an~~ other address Lender designates b}~ notice to Borrow•er. An}~ notice F ~rovided for in this Securis~~ Instrument shall be deemed to ha~ e been gi~ en te~ Borrow•er or Lender w•hen gi~~en as pro~~ided ; in this paragraph. ~ 15. Governing I,aw~; Severability. This Securit~~ Instrument shall hc ga~~erned b~ federal taw~ and the law of the ~ jurisdiction in w~hich the Pro~rty is tocated. In the e~~ent that an}~ pru~•ision or clause of this Securily tnttrument or the tiote conflicts with arplicable la~v, such conflict shall not affect other prov~sions ~f this Security Instrument or the Note ' w hich can be gi~•en effect w~ithout the ronflicting provision. To this end the provisions of this Security In~trument and the tiote are declared to be szverable. ? q 16. Borrower's Copy. Borrower shall be given one confo.-med copy~ of the Note and of this Securit~~ Instrument. ~ ; 1'7. Transfer of the Property or a Beneficiat Interest in Borrower. If all or an~~ part of the Yroperty or any ! ? ~ntzrest in it is sold or transferred (or if a beneficial intere~t in Borrower is sold or transferred and Borrow~er is not a natural : 4 ~erson) w~ithout Lender's prior ~~~ritten consent, Lender ma}~. at its option, require immediate payment in full of all sums ! ~ecured b}~ this Se~urity Instrument. Huwever, this apti~n shall ncst be ~xercised by Lender if exercise is prohibited by iederal law a~ of the date of this Security~ Instrument. If Lender exercises this option, Lender shal! gi~e Barro+~er no!icP of acceleration. The notice shall provide a periRd ~~f not less than 30 da}~s from the date the notice is delivered or mailed within w hich Borrower must pa~~ all sums secured by > this Securit}~ Instrument. If Borrow~er fails to pay these sums prior to the expiration of this period. Lender ma}~ in~oke any~ r~medies permitted b~~ this Security Instrument without further notice or demand on Horrow~er. ~ 18. Borrower's Rip,ht to Reinstate. If Borrower meets certain conditi~ns, Borrower shall have the right to have ~ ~nforcement of rhis Securit~~ Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as , an~licahle law may~ sper~fy for reinstatement) before sale of the Yropert}~ Pursuant to any power of sale contained in this ' ~ Secunt} Instrument: or (b) entry of a judgment enforcing this Security Instrument. Those con~itions are that Borrow•er. i F; (a) pa}s Lender all sums which then would be due under this Security Instrument and the Note had no acceleration ; ~ cxcurred: {b) cures an}~ default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this I ~ Security Instrument, including, but not limited to, reasonable attorney~s' fees: and (d) takes such action as Lender may ~ ~ reasonably rey~~ire t~ assure that the iien of this Securit}~ Instrument, Lender's nghts in the Property and Borrower's s obligatian to pay~ the sums secured by this Security Instrument shall contiriue unchanged. Upon reinstatement by ~ Borro~er, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this ribht to reinuate shall not apply in the case of acceleration under paragraphs 13 or 17. F BOG!t 6~5 fACE O11~ ~ ~ . w~~~~ ~~b~. . _ ~