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Home My WebLink About2664 oooooa~w~s~s lf l.~nder required mortgage insurance as a condition of making the loan secured by [his Security Instrument, Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the insurance terminates in :?ccordance with Borrower's and Lender's written agreement or applicabie law. 8. lnspection. I.ender or its agenl may make reasonable entries upon and inspections of the Property. Lendcr shall givc Borrowe~ notice at the time o!' or prios to an inspection specifying reasonable cause for the inspection. 9. CondFmnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any par[ of the Property, or for conveyance in lieu o4 condemnation, are hereby assigned and shall be paid to Lender. In the event of a total taking of the Property, the proceeds shall be applied [o the sums secured by this Security lnstrument, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Properly, unless Borrowe~ a~d L~a~1zr u[hcrwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds n~uttiplied by the foUowing iraction: (a) the total amount of the sums secured immediat~ly before th$ taking, divided by (b) the fair market valu~ of the Property immediately before tfie taking. Any balance shall be paid to Borrower. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offe~s to make an award or settle a daim for damages, Borrower fails to respond to l.ender within 30 days after th~ c~ate the nolice is given, I.~nd;,r is authorized to collect and a~~lv the nrnrPPr1~ ar ~r~ ~Yr;~n~ ~„tit~ =;,;:u;aL~ui, ~j i~~aii ui inc ~rc~E,~,ry a~ to ti~z sums secureci by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds [o principal shall not extend ar ~ostpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of su..h payments. 10. Boreower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modi~cation oF amortizadon of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the orignal Borrower or Borrower's successors in interesL Lender shall not be required to commence proceedings against any successor in interest or refuse ta extend time for payment or otherwise modify amortization c~f the sums secured by this Security Instrument by reason of any demand made by the original Bonower or Borrower's successars in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lcnder and Borrower, subject to the provisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute tl~e Note: (a} is co-signing this Securily Instrument 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 Security Instrument; and (c) agrees [hat Lender and any other Borrower may agree to extend, modify, Eorbear or makc any ;iccommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 12. Loan Charges. If [he loan secured by this Security instrument is subject to a taw which sets maximum ioan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan ~rceed [he permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Bonower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under [he Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 13. Legislation AfCecting Lende~'s RIghts. If enactment or expiratian of applicable laws has the effect oF rendering any I nrovision oE the Note or [his 5ecwity Instrument unenforceable according to its terms, L.ender, at its option, may require ,mmediate payment in ful! of al) sums secured by this Security Instrumen[ and may invoke any remedies permitted by paragraph ~ i9. If Lender exercises this option, Lender shap [ake the steps specified in the second paragraph of puagraph 17. ~ lA. Nutices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by ~ tirst class mail unless applicable law requires use of a~other method. The notice shall be directed to the Property Address or any i j ~~ther address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's ~ address stated herein or any other address I.ender designates by notice to Borrower. Any notice provided for in this Security [nstrument shall be deemed to have beea given to Borrower or Lender when given as provided in this paragzaph. 15. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law o[ the jurisdiction in ~ ; ~~hich the Property is located. In the event that any provision or clause of this Security Instrument or the Note conilicts with ~ :ipplicable law, such contlict shall not af[ect other provisions of this Security [nstrument or the Note which can be given effect «~ithout the conflicting provision. To [his end [he provisions of this Security Instrttment and [he Note are declared to be ~ se~~erable. ~ lb. Borrower's Copy. Borrower shall be given one conforned copy of the No[e and of this Security Instrument. 17. Transfer of the Property or a E3eneGcial interest in Rorrower. If all or any part of the Property or any interest in it is sold ~ c~r trans[erred {or if a beneficiat interest in Borrower is sold or transferred and Borrower is not a natural person) wi[hout l,ender's prior written consen[, Lender may, at its option, require immediate payment in full of ail sums secur~d by this Security ~ Instrument. However, this option shall not be exercised by L.ender if exercise is prahibited by federal law as of the date of this ~ Security InsUument. ~ I( Lender exercises this option, Lender shali give Borrower notice of acceleration. The not+ce shall provide a period of not ~ less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this ' Security Instrument. If Borrower fails to pay these sums prior to the expiration of thi~ ~*ie~, Lender may invoke any remedies ~~rmitted by this Security Ins[rument without fur[her notice or demand on Borrower. 18. Borrower's Rjght to Reinstate. It Borrower meets certain conditions, Borrawer shall have the righ[ to have enforcement ~.~f this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other periad as applicable law may specify for reinstatement) before sale of the Properiy pursuant to any power of sale contained in this Security Instrument; or (b) entry of a judgment enforcing this Security Instrumznt. Those conditions are that Borrower: (a) pays Lender all sums which [hen ~wuuld be due under this Security Instrument and the Note had no acceieration occurred; (b) cures any deEaul[ of any other covenants or agreements, (c) pays aU expenses incurred in enforcing chis Security InsUument, incfuding, but not limited to, reasanable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Secutity ; tnstrument, Lender's rights in t:~e Property and Borrower's obligation to pay the sums secured by this Security Instrument shall ~ .~ntinue unchanged. Upon reinstatement by Borrower, this Security Ins[rumen[ and the obligations secured hereby shall remain - luiiy effective as if no acceleration had occurred. How~ever, this right to reinstate shall not apply in the case of aeceleration under ~ ~~~~sagraphs i3 or 17. ~,~~iL)i Pa~c i~ (J ~ soox675 F~.~E2~6~ , - ~ ~ ~ . ~__M _ ~ v ~ 4~~:~