The URL can be used to link to this page

Home My WebLink About2228 ~ i:~x ? . ! :t - !f Lender reyuired mortgage insurance as a rondition c~f making the loan securcd by this Serurity Instrument, ' f3urro~~er ~hall ~a~~ the premiums required to maintain the insurance in efiect until such t~me as the reyuirement for the i~uuranre terminatr~ in acrordance with Borrow~e~'s and Lender's written agreement or applicable law. 8. Inspection. Lender or its agent ma}~ make reasonable entries upon and inspections of the Property~. Lender ,hall g~~ e Borrow~er notice at the time of or prior to an inspection specifying reasonable cause fi~r the inspectiun. 9. Condemnation. The prcxeeds ol'an~~ aw~ard ur claim far damages, dirert e~r con~rquential, in ronnection ~+ith an} condemnation or other taking of an}~ part of the Propert}•, or f~~r cun~~}~nce in lieu of cundemnation, are hereby a~,igned ~nd shall be paiu to Lender. In the e~ent of a total taking of the Property, the pruceeds shall be applied tu thr sums secured by this Security ~ instNment, w~hether or not then due, with any excess paid to BorroN~er. In ihe e~ent of a partial taking af'the Pmperty, ~ ~inlNCC Rnrrnu•Pr an~i L.Pn~iPr nt}3NrwicP aorPr in writino thN cnmc crrur~rl hv thic CPrnrit~• In~trumrnt chall Fw rx~nrP~1 hv - • the amount of the proceeds multiplied by the follow~ing fraction: (a) the total amount of the sums secured immediatel}~ ~ before the taking, divided by (b) the fair marl.et value of the Propert~~ immediately bet~ore th~ taking. An}• balance shall be pa~d to Borrower. ~ If the Property is abandoned by Borrow~er, or if, after notice b}~ Lender to Borrower that the condemi~o~ offers t~ make sn aw~ard or settle a claim for damages, Borrower fails to res~nd to Lender Hithin ?0 da~~s after the date the notice is ~ gi~~en, Lender is authorized to collect and apply the proc~eeds, at its option, either to restoratiun or repair of the Pro~rt}~ or ~ to the sums secured b}• this Security lnstrument, w~hether or not then due. ~ Unless Lender and Borrower otherw•ise agree in writing, any application of prexecds to principal shall not extend or ~ ~ostp~~ne the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amuunt of such pa~~ments. ~ 10. Borrower \ot Released; Forbearance By Lender Not a~~'aiver. Extension of the time for pa}•ment or ~ modificatiun of amortization of the sums secured by this Security Instrumznt granted by Lender to an~• successor in interest of BorroH•er shall not operate to release the liability of the original Burrow~rr or Be~rrow•er's successors in interest. L~nder shall not be required to commence proceedings against an}• sucressor in ~ntrretit or refuse to extend time for pa}~ment or otherw~ise modif~• amortization of the sums secuced by this Securit}~ Instrument b~~ reason of any demand made by the originai Borrow~er or Borrower's successors in interesL An}~ farbearance by~ Lender in exercising any right or remedy ,hall not be a~~~aiver of or preclude the exercise of any right or remed~~. 11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The ~:ovenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrow~rr, subject to the pro~•isions ~ of paragraph 17. Borrou~er's co~enants and agreements shall be joint and several. Any Borrower w•ho co-signs this Securit}~ : Instrument but dces not rxecute the tiote: (a) iti ro-signing this Security Instrument only ro mortgage, grant and come}• that Borrow~er's interest in the Pro~rt}• under the terms of ihis Security~ Instrument; (b) is not personally obligated to pa}~ the sums secured b~~ this Securit~~ tnstrument; and (c) agrees that Lender and any other Borrower may agree to extend. modify, forbear or make an~~ accommadati~ns w~ith re~ard to the terms of this Securit}~ Instrument or the Note withaut I that Borrow•er's amsent. 12. I.oan Charges. If the loan serured b}~ this Seiurity~ Instrument is subject to a law w~hich sets maximum loan ' ' charges, and that law~ is finally~ interpreted so that the interest or other loan charges collected or to bc; coUected in ~ cunnection w~ith the loan exceed the permitted limits, then: (a) any such laan charge shall be reduced by the amcunt j necessar} to reduce the charge to the permitted limir, and (b) an~• sums already collected from Borrower which exceeded j permitted limits w~ill be refunded to Borrow~er. Lender may choose to make this refund by~ reducing the pcincipal owed i under the Note or by making a direct pa}~ment to Borrower. If a refund reduces principal, the reduction will be treated as a ~ ~artial prepayment w•ithout any prepayment charge under the Note. ~ 13. Legislation Affecting Lender's Rights. [f enactment or expiration of applicable la~~s has the effect of ~ rendering an}• provision of the Note or this Security Instrument unenforceat~te acrording to its terms. Lender, at its option, ~ may require immediate pay~ment in full of all sums secured b}~ this Security~ Instrument and ma}~ im~oke an}~ remedies E pe~ mitted b}~ paragraph 19. If Lender exercises this option, Lender shall take the stept specifi~:d in the second paragraph of ~ paragraph 17. E 14. \otices. Any notice to Aorrow~er pro~•ided for in this Security~ Instrument shail be given b~~ delivering it or by ~ mailing it by first class mail unless applicable law requires use of another metho:i. The notice shall be directed ta the ~ Property Address or anp other address Borrower designates by notice to Lender. An}• notire to Lender shall be given by ~ first class mail to Lender's address stated herein nr any other address ~rnder de~ignate~ b} notice to f3orrow•er. Any~ notice R ~ro~~ided for in this Securit~~ Instrument tihalf be deemed to ha~e txen gi~en t~~ ~3orrc~w•er or Lender w~hen gi~en as pro~~ided ~ in thic paragraph. ~ ~ 15. Governing I.aw; Severability. This Securit}~ [ntitrument sh~ll he g~nernrd h}~ tederal law~ and the law~ of the ~ ~urisdiction in w•hich the Property is located. In the e~~ent that an} pru•~isi~n or clause of this Security In~trument or the ~ tiote conflicts with applicable Iaw, such conflict shall not afi'ect other pro~isions of this Security Instrument or the Note 6 t which can be given effect w•ithout the conflicting provision. To this end the provisions of this Security Instrument and the ~ ~ote are declared to be severable. 16. Borrower's Copy. Borrower shall be given <~ne confo,-med cop}~ uf the Note ard of this Securit}~ Instrument. ~ 1'7. Transfer of the Property or a Beneficial [nterest in BorrowEr. If all or any part of [he Property or an} ~ ~ g interest ~n it is sold or transferred (~r if a beneficial ~nterest in Borrower u sold or transferred and Borrower is not a natural ~ per5on) withaut Lender's prior written consent, Lender ma}, at its option, require immediate payment in full of all sums secured by this Se~urity Instrument. Howe~~er, this opti~n shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. ~ If l.ender exercises this option, Lender shall gi~~e Borrower nohce of acceleration. The notice shall provide a period ~f not less than 30 days from the date [he notice is delivered or mailed w~ithin which Sorrower m~st pa}• all sums secured by this Security~ Instrument. If Borrower fails to pay these sums prior to the expiration of thit period, Lender may invoke an}~ remedies permitted by this Security Instrument w'sthout further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditi~ns, Borrow~er shall have the right to have enforcement af rhis Securit}• Instrument discontinued at any time prior to the earlier of: (a) S days (or such other period as applicable law may spec~fy for reinstatement) before sale of the Property pursuant to any power of sale contai~ed in this Securit} Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrow•er. Y (a) pa}~s Lender a11 sums w~hich then would be due under this Security Instrument and the Note had no aceeleration ~ a:curred: (b) curzs any~ default of any other covenants or agreements; (c) pays all expenses incurred in enforcing th~s ; Security Instrument, including, but not limited to, reasonable attorney~s' fees: and (d) takes such action as Lender may reasonably reyuire to assure that the lien of this Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured b} this Security Instrument shall continue unchanged. Upcm reinstatement by Borrow~er, this Security Instrument and the obligations secured hereby shall rema~rr fully efi~ecti~~e as if rto acceleration had occurred. How~ever, this ribht to reinstate shall not apply in the case of acceteraiion under paragraphs 13 or 17. b00K ~ PAGEl,~,~ ~ _ ~~.~~~~~'e~~..~'°~.~~~a`.~~~