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Home My WebLink About2794 !f Lcndtr ri:~uired mortgage insurenre as a condition of making the loan serured by this Srcurity Instrument, 43urru~er shail pa~ lhe premiums reyuired to maintain the insurance in eti'ect until such time as the requirement for the ~n~uran.e terminates m accordance w•ith Borrower's and Lender's written agreement or applicable law. S. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Propert}•. Lende. ,h~li gi~e Borrow~er notice at the time of or prior ta an inspection specifying reasonable cause for the inspection. 9, Condemaation. The prcxeecis ot~ any aw~ard or claim for damages, direct or consequential, in connectian with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnatian, are hereby as»gned and shall be paid to Lender. ln the e~ent o` total takeng of ihe Propert~~, the proceeds shall be appiied to the sums secured by this Security Instrument, w~hether or not then due, with any excess paid to Borrower. In the event of a partial taking of tfie Property, unless Borrow~er and Lender otherwise agree in writing, the sumc secured by this Security Instrument shall be reduced by the amount of the proreeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be ~aid to Borrower. If the Property is abandoned by Borrower, or if, aftec notice by Lender to Barrower that the condemnor oRers to rnake an award or settle a claim for damages, Borrower iails to respond to Lender w~ithin 30 days after the date the notice +s given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or rL ?rP s~;;: ~ b3• t!:is Security Ir.si: uraent, ul~~z?he~ or noi ih~~~ Juc. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization 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 originaf Borrower or Borcower's successors in interest. Lender shalf not be required to commence proceedings against any successor in interest or refuse to extend time for payment or othenvise modify amonization of the sums secured by this Security Instrument by reason of any demand made b~• the original Borrower or Borrower's successors 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. I1. Successors and Assigns Bound; Joint and Several Liabiliry; Casigners. The covenants and agreements of this Security Instrument shalt bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of pa~agraph l7. Borrower's covenants and agreements shal! be joint and several. Any Borrower who casigns this Security Instrument but does not execute the Note: (a) is casigning 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 personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that I,ender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 12. Loan Charges. If the loan secured by this Secunty Instrument is subject to a law whicfi sets maximum loan 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 exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount i necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded ! permitted 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 principa{, tfie reduction will be treated as a partial prepayment without any prepayment charge under the Note. ~ 13. Legistation Affecting Lender's I~ig6ts. If enactment or eapiration of applicable laws has the effect of ~ rendering any provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option, 4 may~ require immediate payment in fa11 of all sums secured by this Security Instrument and may invoke any remedies ~ permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of ~ paragraph 17. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given b~ delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by ; first class mail to Ler?der's address stated herein or any other address Lender designates by notice to Borrower. Any notice ~ provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided ' in this paragraph. 15. Governing Law; SEVerability. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the *s~:~ :~~a::.~ i:,...~~., ti_... L a~ , , aNj~u~.av~a. ~aw, ~a~~~ c~~i~~~.:~ ~uau ~wi aieci oiner provisions oi [bis Seeurity instrument or the Note w hich can be given efi'ect without the conflicting provision. To this end the provisions of this Security Instrument and the tiTote are declared to be severable. ' 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Securit~• Instrument. ~ l7. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any i interest in it is soid or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a naturai ` person) without Lender's prior ~vritten consent, L,ender may, at its option, require immediate payment in full of a11 sums ` secured by this Security Instrument. However, this option shall nor be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. If Lender exercises this option, Lender shal( give Borrower notice of acceleration. The notice shall provide a period oS' not less than 30 days i'rom the date the notice is deiivered or mailed within wnich Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permiited by this Security Instrument without further notice or demand on Borrovs~er. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as appSicable faw may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Secur+t}~ Instrument; os (b) entry of a judgment enforcing lhis Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note had no acceleration occurred; (b) cures an~~ default of any other covenants or agreements; (c) pays a11 expenses incurred in enforcing this : Securi:y instrument, including, but not lim~ted to, reasonable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lender's rights in the Properiy and Borrower's obligation to pa}~ the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrum~nt and the obGgations secured hereby shall remain fully eSective as if no acceleratiot~ had occurre~. However, this right to reinstate shall not apply in the case of acceleration under paragraphs l 3 or 17. goaK 675 PAGE2794 - _ ~ ~ _ . ~ ~ . . . . . wv ~a~;.e ° -"~-~~.F.r. ~ ,x-~;~~ ~ ~ ~s r _~~sa~~ -`GZS,.~ r~AE