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Home My WebLink About2866 ~ ~ . ~ If 1_ender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Hurrower shall pay the premiums required to maintain the insurance in effect untii such time as the requirement for the ~n~urance termin~tr, in acrurdance w~ith BorroweP's and Lender's written agreement or applicable law. ~ 8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Prapert}~. Lender sh;~ll gi~~~ Borrower notice at the time of or prior to an inspection specifying reasonable rause for the inspection. ~ 9. Condemnation. The proceeds ot~ any award or claim for damages, direct or consequential, in connection with ~ any~ rondemnation or other taking of any part uf the Froperty, or for com~eyance in lieu of condemnation, are hereby ~ assigned and shall be paid to Lender. In the e~ent of a total taking of the Property, the proceeds sha11 be applied to the sums secured by this Security ~ Instrument, w•hether or not then due, with any excess paid to B~rrower. in the event of a partial taking of the Property, ~ unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the foflowing fraction: (a) the total amount of the sums secured immediately before the tak~ng, divided by (b) the fair market value of the Property immediately~ before the taking. Any balance shali be i aid to Sorrower. P I~'~~ If the Property is abandoned by Borrower, or i(, after notice by Lender to Borrower that the condemnor ofTers to I make an award or settle a claim for damages, Borrower fails to respond to Lender w~ithin i0 days after the date the notice is K;~~r~, Ler~~e~ i; a~iiJiiZc'~ to COIIc'~:i du~ a~p1y lltc p~ixrr~~, ni ii~ optiun, riiher lu rr~iuratiun ~,r ~r~>air uf ihe Frupert~~ or to the sums secured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing, an~• application of pnxeeds to principal shall not extend or st n t ~ e he due date of the monthl • a•ments referred to in ara ra hs 1 and 2 or chan e the amour~t of such a•ments. F'~ t~ S P S P 8 P B P} ~ r 10. Borrower hot Released• Forbearance B Lender Not a V1'aiver. Extension of the time for a ment or ~ , Y PY modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in ~ mterest of Borrower shall not operate to release the liability of the original Borrower or Borrov?~er's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwi~e modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrow•er or Borrower's successors in interest. Any forbearanre b~~ 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 Severaf Liability; Co-signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Borrow~er's co~~enants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrumer+t but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Yroperty under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured bv this Securit~• Instrument; and (c) agrees that Lender and any other Borrower may agree to exiend, modify, forbear or make any accommodations H~ith regard to the terms of this Security Instrument or the Note without that Borrower'sconsent. 12. Loan Charges. If the loan secured b}• this Security 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 be collected in connection with the loan exceed the permitted limits, then: (a) any such toan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitte~ limits wiil be refunded to Borrower. Lender may chcwse to ~nake 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 prepayment without any prepayment charge under the Note. 13. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has the eRect of ; rendering any provision of the Note or this Securit}• Instrument unenforceable according to its terms, Lender, at its option, ' may require immediate payment in full of all sums secured by~ this Securit}~ Instrument and may invoke any remedies permitted by paragraph 19. If Lcnder exercises this option, Lender shall take the steps specified in the second paragraph c~f paragraph 17. 14. Notices. Any notice to Borrow~er provided for in this Security Instrument shall be gi~~en by 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 Borrow~er 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 Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been gi~~en ro Borrawer or Lender when given as provided in this paragraph. 15. Governing Law; Severability. This Securit~~ instrument shall be governed by federal law and the law of the juri~uiciion in w~i~icn iiie rruperiy is iex:aied. in ine eveni inai any pru~•ision or ciause oi inis ~ecuriiy in~trumeni or ine Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given efiect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be sevcrable. 16. Borrawer's Copy. Sorrower shall be given one conformed copy of the Note and of this Sec~rity lnstrument. 17. Transfer of the Property or a Beneficial Interest in Borrower. It all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option, cequire immediate payment in full of al! sums secured by this Se.urity Instrument. However, this option shall not be exercised by Lender if exetcise is prohibited by ~ederai law as of the date of this Security Instrument. if Lender exercises this option, Lender shall give Borrower notice of acceleratian. The notice 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. li Borrower fails to pay these sums prior to the expiration o!'this ~riod, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower sha11 have the right to have enforcement ot'this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicahle law~ may spec~fy for reinstatement) hefore safe of the Propeny purcuant t~ any power of sale cootained in this Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a~ pays Lender all sums which then would be due under this Security Instrument and the I~tote had no acceleration occur~ed; (b) cures an}~ default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may reasonably reyuire to assure that the lien of this Security Instrumeot, Lender's nghts in the Property and Borrower's obligation to pay the sums secured by this Seeurity Ins4rument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully efi'ective as if no acceleration had occurred: However, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17. ~:~.p~ f ~5 ~~2~~~ ~ _ . _ _ . z 4 . _ _ - - - - - ~ ~ ~ x~-