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Home My WebLink About2889 z . • ~ ~ li~ Lrnd~r reywre~l murtgage in~urancr as a rondition of m~king the loan tit~:ured b~~ this Se~urity [nst~ument, H,~rr~~~?~r ~h~ll pa~ the prrmiums required to maintain the insurai~ce in efTect until such time as the reyuirement for the ~n,uranre termin~tr~ in accurdance w ith Burrow~er's and Lender's writsen agreement or ap~licable law~. 8. Inspection. 1_ender or its agent ma}~ make r.:asonablz entries uEwn and inspections of the Property. l.ende. ,hall gi~ e Burrow er notice at the time uf or prior to un inspection specifying reasonable cause for the inspection. 9. Condemnation. The prckeeds oti any award or claim fix damages, direct or cons~quential, in connecti~n w~ith any condemnation or <~ther taking of an~ part ~~f the Property, or for con~~e}~ance in lieu of condemnation, are hereb}~ a~,ignc~ci and sh~il be p~id to Lender. In the evrn; of a tatal taking ot~ the Yro~rty, the prcx~eeds shall be applied to the sums st~;ured b}• this Security~ In~trument, ~~•hethrr or not then due, with any~ excess paid to Borrower. {n the event of a partial taking of the Property, unless [3orroaer and Lender otherwise agree in writing, the sums secured b}~ this Security l~strument shall be seduced by the amount of the pra:.eds multiplied by the following fraction: (a) the total amount of the sums secured immediarely beFore the taking, divided by (b) the fair market ~~alue of the Pioperty immediately before the taking. Any balance shall be paid to Borrow~er. lf the Property is abandoned by B~rrow•er, or if, after notice by Lender to Sorrower that the condemnor offers to make an award or settle a claim for damages, Bc~rrower fails to respond to Lender 4vithin 30 days after the date the notice is given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Pro~rty or the cumc c~urNd hy rh~s Secsnt~ lns::;::r.~nt. •~~h:ircr or not then du2. lJnless Lender and Borrower otherwise agree in writing, any aPplication of proceeds to principal shall not extend or ~ostpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such paymeots. 10. Borrower tiot Released; Forbearance By Lender Not a VYsiver. Extension of the time for payment or maiification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borcower shall not aperate to release the liability of the origina! Borrower or Borrower'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 other~~ise modify amortization of the sums secured by this Security Instrument by reason oi'any demand made b~~ the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising an} 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 coo•enants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Bc~rrower, subject to the provisions c~f paragraph 17. Borrower's co~enants and agreements shali be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrume~t only to mortgage, grant and conve}• 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 Lender and any other Borrower may agree to extend, modif}•, forbear or make any ac~ommodations K~ith regard to the terms of this Security Instrument or the Note without that BorroK~er's consent. 12. Loan Charges. If the laan secured by this Security Instrument is subject to a{aw which sets maximum loan rharges, and that law~ is finally interpreted so that the interest or other loan charges collected or to be collected in ronnection with the loan exceed the 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 Borrower which exceeded ; permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal ow~ed ~ under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction wiil be treated as a i partial prepayment without any prepayment charge under the Note. ~ 13. Legislatian Affecting Lender's Rights. If enactment or expiration 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, { ma}~ require immediate payment in fuli of all sums secured by this Security Instrument and may invoke any remedies k ~+ermiued by paragraph 19. If I.ender exercises this optian, Lender shall take the steps specified in the second paragraph of ~ ~aragraph 17. 14. tiotices. Any~ notic~ to Borrower provided for in this Secunty Instrument shal) be given by delivering it or b~~ mailing it by first class mail unless applicable laa~ reyuires use of another methad. The notice shall be directed to the ` Pro~ert~~ Address or any~ other address Borrower designates by notice to Lender. Any notice to Lender shal: be given by k kirst clasc mail to I_ender's address stated herein or any other address Lender designates by notice ro Borrower. Any notice ~ ~,ro~ ided far in this Securit}• Instrument shall be deemed to have been given to Borrower ar Lender when givQn as provided ~ in this paragraph. ~ I5. Governing I,aw; Severability. This Security Instrument shall be go~~erned by federal law and the law of the jurisdiction in which the Property is locat~d. In the event that any provision or clause of this Security Instrument or the i;~tv rnnAirtc unt1~ o..~l:.~ol.l0 1~..~ tu..4 ..a' ~t n'. ' . _ »~,r,...,,.,,.~ .:.,~.ii~~ Snai~ i~0i auci.i u?(icf ~iuv~~~uus ui t;zis ~ee:uriiy instrumen[ or tne ivote j H hich can be given effect without the conflicting provision. To this end the provisions af this Seti:urity Instrument and ihe tiote are declared to be severable. ~ 16. Borrower's Copy. Borrower ~hall be given one conformed copy of the Note and of this Security Instrument. 17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or an~~ ~nterest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural ' person) w~ithout Lender's pcior written consent, Lender ma}~, at its option, require immediate pa}~ment in full of all sums ` ~ecured by this Security Instrument. Howeve~, this option shalt not be exercised by Lender if exercise is prohibited b}~ federal law~ as of the date of th~s Security Instrument. If Lender exercises this option, Lender shal! give Borrower notice of acceleration. The notice shall provide a period c~f not less than 30 days from the date the notire is deiivered or mailed w~ithin which Borrower must pay al) sums secured by this Secur+ty instrument. If Borrower faiis to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security [nstrument without further notice oc demand on Borrower. 18. Borrow~er's Right to Reinstate. If Borrower meets certain conditions, B~rrower shall ha~~e the rioht to have enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other peri~yd as appiicabie law~ ma}~ specii~}~ for reinstatement) before sale of the Property purs~ant to any power of sale contained in this SecUCit}~ instrument; or (b) entr~ of a iudgment enforcin¢ :Flis Secqntv lnctn~mrnf. Thpcr ~nn~ijtinnS gTe !h3! R~~r~u~o~: (a) pa~s Lender al( sums which then would be due ander this Security Instrument and the Note had no acceteration ~curred; {b) cures an}~ default of any other covenants or agreements; (c) pays all expenses incurred in enfarcing this Securit} Instrument, including, but ~~t limited to, reasonable attorneys' fees; and (d) takes such action as Lender ma}~ reasonabl~• require t~ assure that the iien of this Security Instrument, Lender's nghts in the Property and Borrower's ob{igation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrow~er, thit Securit~~ Instrum~nt and the obligations secured hereby shali remain fuHy effective as if no acceleration had ~rcurred. Hc+w e~ er, this right to reinstate shalt not apply in the case of acceleration undec paragraphs 13 or 17. ~~~K fi75 P~~~ 2889 _ ~ . _ _ . . _ _ . _ .~'k~,,~i.4`'z,~i'C= ~y :,s~a~.=>_":~:c.-s~.a e ~.~-t'~a~F'~~7