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Home My WebLink About2803 ~ . . . . • . . . , r ~ ~ If Lencler reyuire~l murtgage in,uran.e a, a ~onditiun ot~ making ~he laan ,~tiureci b> thiti Se~urity lnscniment, kiurru~~er ~hall pa~~ the premium~ reyuireei to maintain the insurance in eff~~;t until such time as the rryuirement t~or the in.uranre terminates in arcurdance ~~ith Borro~~er's and Lender's written agreement or applicable IaH~. 8. Inspeclion. Lendcr or its agent may mat~e reasunable entries upon and inspections of the Property. Lender ,hall ei~e BorroN~er noti~e at the time of or ~rior to an ins~ection specifying reasonable cause for the inspection. 9. Condemnation. The procc~eds of an1• a~~ard or rlaim for ~iamages, direct or ronsequential, in connection ~~~ith an~ ~ondemnation or other taking of an~~ part of the Propc:rty, or for cam•ey~anre in lieu of condemnation, are hereby a,~igned and shall be paid to Lender. fn the e~~ent of a total taking of' the Property, the pra:eecis shall be applied ro the sums se~:ured by this Securit~~ Instrumcnt. ~~~hether or not then due, ~~+th an~• exress paid to 8orrower. In the event of a partial taking oi' the Property, unlcss I3orroH~er and Lender oth~r~~ise agree in ~~riting, the sums secured by this Security lnstrument shall be reciuced b~~ the amount of the proreecis multipliecl by the t~ollo~~~ing fraction: (a) the tota) amount of the sums secured immediately~ b~tore the taking, di~•ided b}• (b) the tair market ~alue of the Pro~c:rty immediarely before the taking. An>• balance shall tk paid to Borrower. If the Propert~~ is abandoned by~ Borro~~cr, or if, after notice by Lender to Borrower that the condemnor offers to make an a~+ard or settle a claim for damagcs, Borrow~es fails to respond to Lender ~vithin 30 days after the date the notice is given, Lender is authorizeci to rollect and applp the proceeds, at its option, either to restoration or repair of the Propen~~ or to the sums secured by this Security Instrument, whether or not then due. llnle~~ 1 endef ~!1l1 ~30rr~~~~Qr nthPr»'~Sp ~a,r«~ :1':i~ifl$. u:1~ iij.~'.ii~BiiJi'i Oi ~P~:c~l~~ tu pii~icipai ~haii not extenc'1 ur pustpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such pa~Tnents. ~ payment or modification i 10. Borrower Not Released; Forbearance B~~ Lender Not a V1'siver. Extension of the time for ~ oi amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Bo~row~er 1 ~hall not operate to release the liability of the original BorroH•er or Borrower's successors in interest. Lender shall not I be required to commence praeeciings against any sucressor in interest or refuse to extend time for payment or otherwise ~ tnuciify amonization of the sums securecl by this Security lnstrument by reason of an>~ demand made by thc original Borrower or Borrower's successors in interest. An~ forbearance by Lender in exercising any right or remedy shali not be a«~ai~~er of or prerlude the exerrise of any right or remedy. 11. Succes~;ors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of this ~ ~uritv Instrument shall bind and benefit the successors and assigns of Lender and BorroH~er, subject to the provisions of paragraph 17. Borro~~~er's covenants and agreements shall be joint and se~~eral. Any Borrower who co-signs this Security 1 lnstrument but dces not execute the Note: (a) is co-signing this Security Instrument onty to mortgage, grant and convey ~hat Borr~wer's interest in the Property under the terms of this Sec:urity instrument; (b) is not persona{fy obligated to pay the sums secured b}• this Security~ instrument; and (c) agrees that Lender and any other Iiorro~~~er may agree to extend, maiify, forbear or make any accommodations ~vith regard to the terms of this Security~ Instrument or the Note without that Borrower's consent. 12. Loan Charges. If the loan secured b~• this Serurity tnstrument is subject to a law~ H~hich sets maximum loan ~hargc~s, and that laH~ is finally interpreted so that the interest or other loan charges collected or to be collec'tcd in connection ~~ith the loan erceed the permitteci limits, then_ (a) any such loan charge shall be ~educed by the amount necessary to reduce the charge to the permitied limit; and (b) any sums already collee:teti from Borroti~er which erceeded permitted i li?nits ~~~ill be refunded to Borro~~~er. 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 partial ~ ~,cepayment ~~~ithout anp prepa~ment charge under the Note. ~ 13. Legislation Affecting Lender's Righls. if enactment or expiration of applicable laws has the effect of renderine ; an~ pro~ision of the Note or this Seeurity Instrument unenforceable according to its terms, Lencle:, at its option, ma~~ ' reyuire immediate pa}~ment in full of all sums secured by this Security Instrument and may invoke any remedies permitted - e-ond ra ra h of ara ra h ~ 9 f r ex rci~es this o tion Lender shall take the ste s s -ified in th se~ g b~ ara ra h i. I Lende e p p p~ Pa 8 P P P _ P L~ P • ~ 17. ' 14. tiotices. An~~ uotice to Borro~ti~er provided for in this Securit~~ Instrument shall be given by de{i~~ering it ' e,r b~~ mailinK it by first ~lass mail unless applicable la~+ requires use of anotner meth~d. The netic: shal! be directed co the Property~ Addres~ or an~~ other address [3orro~~~er designates by notice to Lender. Any notice to Lender shall be gi~~en by i'irst class mail to Lender's address stated herein or any other address Lender designates by notice to E3orrower. Any~ notice pro~~ided for in this Security fnstrument shall be deemed ro have been given to Borrower or Lender ~shen given as ~rovided in this paragraph. 15. Go~•erning i.aw; Severabilil}~. This Security Instrument shalt be governed by federat law and the law~ of the jurisdiction in ~vhich the Propert}~ is located. In the e~~ent that an~~ provision or ciause of this Securit~~ Instrument ur the Note conflicts «~ith applicable law, such conflict shall not affect other pro~~isiens of this Security Instrument ":a,~ r;;~h b~ g~~c~~ ri;rci witi~out ~ne confiicting provision. lo this end the pr,~visions of this Securit~~ Instrument and the Note are declared to be severable. 16. Borrower's Copy~. Borrow~er shall be gi~~en oae conformed copy of the Note and of this Security Instrument. 17. Transfer of the Property or a Beneficia) lnterest in Sor~ower. If all or any part of the Property or an~~ intrrest in it is sold or transferred (or if a beneficial interest in BorroH~er is sold or transferred and Borrower is not a natural peron) ~sithout Lender's prior ~iritten consent, Lender ma~~, at its option, reyuire immediate payment in (ull of alt sums secured by this Security Instrument. How~ever, this option shall not be exercised by Lender if exercise i~ prohibitcd by federal ta~+~ as of the date of this Security Instrument. If (.ender exercises this option, Lender shall gi~~e Borrower notice of acceleration. The notice shall pro~~ide a period of not less than 30 days from the date the notice is delivered or mailed ~+~ithin w•hi~h Borro~~er must pay ali .ums secured by this Serurit}~ Instrument. If Borro«~er fa~ls to pay these sums nrior to ihe cxpiration of this period, Lender may im~oke an~~ remedies permitted by this Security 17strument ~~~ithout furthcr notire or demand on Borro~~~er. 18. Burro~er's Right to Reinstate. lf Borro~er meets certain conditions, Borrower shall have the right to ha~~e ~nforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) S days (or such other ~~eriod as applicable la~~ ma~~ specify for reinstatement) before sale of the Propert}~ pursuant to anp power of saEe ~ontained in thi, Securit}~ lnstrument; or (b) entry~ of a judgment enforcing this Security Ins~rument. Those c:onditions are that Borro~~er. (a) pa~~s Lender al! sums ~~hich then ~~ould be ~ue un~er tFrs Se~urit}~ Instrument and the Notc k~ad no accelecat+on oc~urred; (b) cures any defauh of any other covenants or agreements; (c) pa~s all expenses incurred in enforcing this Securit}~ Instrumcnt, including, but not limited to, reasonabfe attorneys' fees, and (d) takes such artion as Lender may~ rcasonabl>~ require to assure that the lien of this Secu~it~~ tnstrument, Lendes's ~ights in thc Propert~~ and Borro~er's obligation to pa~~ the sums secured b~~ this Se~urit}~ Instr~ment shall continue uncnanged. l`~n reinstatement b~~ I3orro~~•er, this Serurit~~ In;trument and the obligations secured hereby shall remain full~~ effecti~~e a. if no acrr{eration had o~curred. Ho:~e~~er, thi~ right to rrinstate shall not appl~ in the casr al arceleration under ~~aragraph, 13 or 17. BOOK V75 PAGE2803 - - - - : ~ . R ~.ti ~ - ~ ~ ,4