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HomeMy WebLinkAbout2546 . . , , • li Lrn~lrr rryuir~ci m~~rtgagr imuranre a~ a con~iiu~~n ~,f makis~g the lo:i{1 titl'U(l't~ h)' 1I11S Serurit~~ Imtrument. l~urrn~~rr tih~ll ~a} thr rrrmiumti reyuired to maint~iin thr insurance in etTrrt until surh tin~e ;ts the requirement Cur the in~urancr terniin,itr~ in a~rurdanre ith BurroHer's and Lrnder's w'ritten agrremrnt or applir3ble I~w. 8, Inspection. l.ender ~~r it+ agent ma~ m,ike reatitmable entries upcm and inspections of the Pru~rt}. Lcnde, .haU ~i~r Burrower notice at the time af ~~r prii~r to an inspection lperifying reasonable c:~use for the ~nsprction. g. Condemn~tion. The pnkeed~ ot~ an~ a~?ard or claim for dam3gc~, direct or consequential, in c~mnectiot~ with :in~ condrmnation ar other taking c~f an~ ~art ~~f the Propert}•, or for con~e~~ance in lieu of condemnatiun, are hereb~• a,~~gned and tihall br paid to Lender. in the e~ent ~~f a t~~tal taking c~f the Yruprrt~~. the prckeedti shall be applied to the sums secured h~~ this Security In,trument, ~~hethes or not then due, with any excess paid to Borrow•er. In the e~~ent oPa partial taking of the ProFx:rty, unleti~ E3curc~~er and Lender utherH•ise agree in w~riting, the sums secured b~• this Security lnstrnment shall be reciuced b}~ • i . ~~lr~ :~mnnM nf th.• nr~.-.~.~.Iq .....I~:..I:..a 6:~ .l.` o` ~c . t1 , ~ ft ~,:i :.;iui uiiiiiuiii vi ii iiiii ~ ~CCi3tCll I {{I1Cllf:flC1}' . _ _ . . betixe the taking, di~ ided hy (b) the fair market ~~alue of the Propert~• immediately before the taking. Any balance shall be puid to BorroHer. [f tfie Yropert~~ i~+ abandoned b~~ Borruw•er, or if, after notice by Lender to Borrow~er that the condemnar offen to make an award or settle claim for damages, Borrow•er fails to res~nd to Lender w~ithin 30 days after the date the notice is given, Lender is authorized to coliect and appl}~ the proceeds, at its option, either to restoration or repa+r o~ the Pmpesty or to the tiumti secured b~~ this Securit~~ Instrument, whether or not then due. Unle,s Le~der and Borrower otherwise agree in writing, any application of proceeds to principa) shall not eztend or p~~,tpone the due date of the monthly payments referred to in paragraphs 1 and 2 c~r change the amount of such payments. 10. Borrow~er tiot Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or mcxiificatic>n of amortization of the sums secured by this Security lnstrument granted by Lender to any successor in interest of BorroH•er shall not operate to release the liability of the original Borrow~er or Borrower's successars in interest. Lender shall not be required to commeizce proceedings against any successor in interest or refuse to extend time for pa}~ment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made h}~ the ~~riginal Barro~~er or Barrow~er's successors in interest. Any forbearance by Lender in exercising any right or remedy tihall nat t~ a w•ai~~er of or preclude the exercise of any right or remedy. 11. Successors and Assigns Bound; Joint and Several Li9bility; Co-signers. The covenants and agreements of this Security Instrument shall bind and Ixnefit the successors and assigr~s of Lender and Borrower, subject ro the provisions c7f 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 co-signing this Securiry Instrument only to mortgage, grant and conve;• that Borrower's interest in the Property under the terms of this Security Instrument; (h) is not personally obligated to pa}~ the sums secured b} this Security Instrument; and (c) agrees that Lender and anp other Barrower may agree to extend, mcxiify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrow•er's consent. 12. Losn Charges. If the loan secured by~ this Securitp Instrument is subject to a laa• w~hich sets maximum loan rharges. and that IaH~ is finaily interpreted sa that the interest or other loan charges collected or to be collected in c~mnection w~ith the loan exceed the permitted limits, then: (a) anp such loan charge shall be reduced b~~ the amount neressan to reduce the charge to the permitted limit; and (b) an~• sums already collected from Borrower which exceeded ~c:rmitted limits will be refunded 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. If a refund reduces principal, the reduction will be treated as a ! ~artial prepa}'ment without any prepayment charge under the Note. 13. Legislation Affecting I.ender's Rights. If enactment Qr expiration of ap}~licable law~s has the eft'ect of rrndenng an}' pro~~ision of the Note or this Security Instrurnent unenforceabie according to its terms, Lender, at its option, ~ ma~ require immediate pa}~ment in full of all sums secured by this Security Instrument and may in~~oke an~• remedies }~~rmitteci b} paragraph 19. If Lender exercises this option, Lender shaU take the steps specified in the second paragraph ~~f ~~ragraph t7. 14. \otices. Any notice to Borrower pro~~ided for in this Security~ Instrument shall be given by deli~~ering it or b}~ mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the ` Nropert~ Address or ar.}~ other address Borrower designates by notice to Lender. An~~ notice to Lender shall he given by~ tirst class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice ~ ~re~~ ided for in this Security Instrument shall t,e deemed to ha~ e been given to Borrower ar Lender when given as provided f in this paragraph. S 15. Governing Law~; Severability. This Serurit}~ lnstrument shall be go~~erned by federal law and the law~ of the iurisdiction in w~hich the Property is located. In the event that any provision or clause of this Security Instrument or thc \~~te confli~ts with applicable law, such conftict shall not affect other provisions of this Secunty Instrument or the Note ~ ~~hich can be given effect without the coniiicting provision. To this ~nd the provisions of this Security Instrument and th~ ti~~tr are declared to be se~~erahle. E l6. Borrower's Cop}~. Borrow~er thall be given one conformed a~py~ of the Nc~te and of this Securit}~ In~trument. ~ 17. Transfer of the Propert3• or a Beneficial Interest in Borrow-er. If ;~II c~r an}~ part of th~_ Pmperty ar an} interetit in it is sold or transferred (or if a beneficial interest in Barrower is sold or transferred and Bormwer i` not a naturai ; ~en~~n) ~~ithout Lender's prior written contient, Lender ma}~, at its opti~n, reywre immediate payment in fuU of all surm ~ ,~cured by this Security~ Instrument. Ho~~ever, this apticro shall no~ be exercitied b} Lender if exercise is ~re~hibited h~ federal law as of the date of this Serurit}° [nstrument. If Lender exercities this option, Lender shall gi~~e Borrower nohce of acceleration. The notire ~hall pro~ide a pen~xi c~f n~~t leti~ than 30 da~~s from the date the notice is delirered or mailed w ithin w hich 8orrow•er must pa~ all ~ums secured by th~~ Securit}~ Instrument. if Borrow~er i'ails to pay these sums prior to the expiration of this period. Lender ma}~ imoke any remediet permitted by this Securit~• In~trnment without i~urther notice or demand on Borrower. 18. 13arroKer's Riqht to Reinstate. If Barrower meets certair~ conditi~ns, Borrow~er sha{I ha~~e the rigM to have rnf~rcement of this Securit}• [nstrument discontinued at anp time prior to the earlier of: (a) 5 days (<~r tiuch ~ther ~?eriod as a~~licahle law may~ s~ecif}~ for reinstatement) before tale of the Property pursuant to any pow~er of sale contained in this `E Securit~~ Imtrument; c~r (b) entry of a judgment enforcing ~his Security Instrument. Those conditic~ns are that Borrow~er. !a) pe}ti Lender all sumt which then w~ouid be due ursder ihis Securit}~ Instrument and the Note had no acceleratinn occurred; (b) cures an~ default of any other covenants ar agreements: (c) pays al1 expenses incurred in enforcing thi~ Se~urit~ Instrument, including, but n~t limited to, reasonable auorne}~s' fees: and (d1 takes such action as I.ender ma} reasonabl~~ reyuire t~~ assure that thc lien of this 5ecurity Instrument, Lender's nghtti in the Property and Borrower's 3 obligatiem to pay the Sumti tiecured by~ this Security Instrument shall cantinue unrhang.d. Upon reinstatement b}~ , B~rrc~wer, thi~ Security Imtrument ar~d the obligatians seeured hereby tihall rerriain fuliy- effeetive as if no acceleration had czcc•urred. N~~e~er. thi~ right to reinstate shaN n~t app1~• in the case of acceleration under ~aragraph~ i 3 ~r i 7. 8001( ~7~ PAGE~vJ~ ~~.~,~.,~s~.