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Home My WebLink About2878 , ' ' ~ .i ' IF Len~ier rcywred murtg~ge insuranre as a cond~Uon af making the loan secured by this Sc~:urity Instrumrnt, t3urm~~rr tihall ~a} tljr premiumt reyuired to maintain the insurance in effect until such time as the reyuirement for the in,urance terminatr~ in a~curdance w ith Borrow•er's arid Lender's written agreement or applicable law•. 8. Inspertion. !_cnder c,r its ~grnt may make reasonable entries upon and inspections ot the Prupert}~. Lznder ~hxll gi~e Burrow er notice at the time of or prior to an inspe~:tion specify~ing reasonable cause for the inspection. 9. Condemnation. The proceeds of any aw~ard or claim for damages, direct or ronsequential, in conneti:tion w~ith an~ c~mdemnation or other taking of an} part of the Pro~rtp, or for conveyance in lieu of condemnation, are hereb~• a,s~gnrd and shall be~aid to Lender. In the e~ent of a totat taking of the Property, the proceeds shall be applied to the sums secured b}~ this Security Instrument, H~hether or not then du., with any excess paid to Borrower. In the event of a partial taking of the Property, unless Borrow~er and Lender otherH~ise agree in writing, the sums secured by this Security Instcument shall be reduced by the amaunt of the prcxeeds multiplied by the following fraction: (a) the total amount of the sums secured immediately befure the taking, di~•ided by (b) the fair market value of the Property immediately before the taking. Any balance shaN be paid to $orrower. If the Property is abandoned by Borrower, or ii, after notice by Lender to Borrower that the condemnor ofi'ers to make an aw~ard or settle a claim for damages, Borrower fai{s to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the prxeeds, at its option, either to restoration or repair oithe Pro~erty nr to the sumc cecured by this Security lrstrunyrut, whether or not then due. lJnless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend ar postpone the due date of the montfily payments referred to in paragraphs I and 2 or change the amount of such payments. 10. Borrower Not Released; Forbeeprraoce By Lender 3Vot a W~irer. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by [,ender to any succ~ssor in interest of Borrow~er shali not operate to release the liability of the origina) Borrower or Borrowec's successors in interes~. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for pa}~ment or otherw~ise modit'y amortization of the sums secured by this Security Instrument by reason of any demand made b}~ the original Borrow~er 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. 11. Successors and Assigns Bc~ued; Joint and Seventl Liability; Co-signecs. ~'he cove~ants and agreements of this Sec:urity Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Barrower's covenants and agreements shall be joint and severat. Any Borrower who co-signs this Security Instrument but does not execute the Note: fa) is co-signing 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 L.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 toan secured by this Security Instrument is subject to a law which sets maximum Ioan € charges, and thai law is finally inierpreted so that the interest or other loan charges coliected or to be collected in connec:tion w~ith the loan exceed the permitted limits, then: (a) any such loan charge sha!{ be reduced by the amount 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 pnncipal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. l3. I.egislation Affecting I.ender's Rig,hts, If enactment or expiration of applicable iaws has the eflect of rendering any provision oFthe Note or this Security Instrument unenforceable according to its terms, Lender, at its option, may~ reyuire immedia~e payment in full of all sums secured by this Security Instrument and may invoke any remedies ~ permitted by paragraph 19. IE' Lender exercises this option, Lender shall take the steps specified in the second paragraph of ~ paragraph 17. l4. lotices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice sha{{ be directed to the ~ Propert~~ Address or any other 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 Lender designates by notice to Borrower. An} notice ~ pro~~ided for in this Security Instrument shal! be deemed to have been given io Borrower or Lender when given as pr~~vided ~ in this paragraph. 15. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the ~ jurisdiction in a•hich the Pr~perty is located. In the event that any provision or clause of this Security Instrur~Pr,~ ~r ehP ~ ',~ic~te rnr?flirtc LL~.~?; ~YY"`uv~a. ~aw, s~c;~ cunnicc snaii not attect other provisions of this Security Instrument or the Note ~ w~hich can be given effect without the confl±cting provision. To this end the provisions of this Security Instrument and the ` tiote are declared to be severable. ' 16. Borrower's Copy. Borrow~er shal! be given one conformed copy af the Note and of this Securit}~ Instrument. ~ 17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sotd or transferred (or if a beneficial interest in 8orrower is sold or transferred and Borrower is not a natural F person! µ~ithout Lender's prior written consent, Lender may, at its option, require immediate pa}~ment in full of al! sumti ~ ~ecured 'o~ this Security (nstrument. Hoa•ever, this option shall noi be exercised by~ Lender if exerritie is prohibited b~~ ~ iederal law~ as of the date of this Security Instrurrzent. If Lender exercises this option, Lender shal! give Borrow~er nohce of acceleratiun. The notice shali pro~•ide a period <~f not les5 than 30 da}~s from the date the notice is delivered or mailed w~ithin w•hich Borr~~w•er must pay all sums secured by thi, Securit~~ Instrument. If Borrower fails to pay these sums prior to the expiratiun of this period, Lender may in~~ake any remedie.~ permitted by this Security~ Instrument without futther notice or demand on Borrower. l8. Borrower's Right to Reinstate. If Borrower meets certain conditi~ns, 8orrower shatl ha~e the right to ha~•e enfc~rcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 day~s for such other period as applicable law ma} specif}~ for reinstatement) before sale of the Property pursuant to any ~wer of sate cont~sined in this Securit~ Instrument; or (b) entn of a;udgment enforcing this Sccurity Instrument. Those con~+itions are that Borrc~wer: (a) pa}~s Lender a!1 sums which then would be due under this Security Instrument and the Note had no ~rcrlerati~n cx.curred: (b) cures an}~ default c~f an~ other covenants or agreements; (c) pays alf expenses incurred in enforcing thi~ Securit~ (nstrument, including, but n~t limited to, reasonable attorneys' fees; and (d) taketi wch acti:~n as I.ender may reau~nabl~ require t~~ atsure that thc iien of this Security Instrument, Lender's nght+ in the Propert~ and B~~rroaer'~ <~bl~gahc~iz to pa~ the tiums tiecured h~~ this Security~ Instrument shall continue unrh:~nged. l;~m reinstatement b}~ Bcirrnwer, tFi~ Serurit~ Intitrumeni and the ~bhgations secured hereb~ sha!! remain full~ efTrcti~e ati if n~~;~rrrleran~~n had ~tirrurred. N~«e~er. thi~ right to reinstate ShaU nc:t apriy~ in the catic ~f acceleraunn under ~aragra~h. 13 cir 17 SOGK 675 FAGE~~~Q , ~ ~ x _~_u ~ _ , ~