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Home My WebLink About2898 ~ . If Lender reywred mortgage insurance as a condition uf making the loan secured by this Security lnstrument, Borrow~er shall pay~ the premiums required to maintain the insurance in ef~ect un+il such time as the requirement for the insu~~ance terminatr~ in accordance w~ith Borrowei's and Lender's wri~ten agreement or applicable law~. 8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Pro~rty. Lender ,hail gi~e Borrow•er rotice at the time of or prior to an inspection specifying re~sonable rausr for the inspection. 9. Condemnation. The proceeds of any award or claim for damages, dirert or conseyuential, in connection H~ith any condemnation or other taking of an~~ part uf the Praperty, or for conveyance in lieu of condemnation, are hereby as~igned und shall be paid to Lender. In the e~ent of a total taking of the Property, the proceeds shall be applied ta the sums secureti by this Security lnstrument, w~hether or nat then due, aith any excess paid to Borrow•er. In the event of a part~al taking of the Property. unless &~rrower and Lender otherwise ag~ee in writing, the sums secured by this Se~-urity Instrument shall be reduced by the amount of the proceeds muttiplied by the follow~i~g fraction: (a) the rotal amount of the sums secured immediately before the taking, di~~ided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower. !f the ProFerty is abandoned by Borrower, or if, aRer notice by Lender to BorroK~er that the condemnor offers to make an award or settle a claim far damages. Borrow•er fails to respond to Lender w ithin 30 days after the date the notice is R~~~en, Lender is auth~ri~ecl t~ rnllect an~ ap~ 1~~ th: c:..ds, ai i.s apiion, eii ~~r tu ~ c~ii,j atiu~i ur rrpsir of the Propert}~ or a to the sums secured by this Security Instrument, v?•hether or not then due. j Unless Lender and Borrower othervvise agree in writing, any application of pr~xeeds to principal sha1) nat extend or ~ ~ostpone the due date of the monthly payments referred to in paragraphs 1 and 2 ar change the amount of suct? payments. 10. Borrower tiot Released; Forbearance By Lender Not a~y'aiver. Extension of the time for payment or j modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in 1 interest of Borrower shal~ not operate to reiease the liability of the original Borrow~er or Borrower's successors in interest. ~ Lender shall not be required to commence proceedings against an}~ succc~sor in interest or refuse to eatend time for ~ payment or otherwise modif}• amortization of the sums secured by this Security Instrument by reason o~'any demand made ~ by the original Borrower or Borrower's successors in interest. Any forbearance b~~ Lender in exercising any right or remedy ~ ,hall not be a~vaiver of or preclude the exercise of an~~ right or remedy. ; il. Successors and Assigns Bound; 3oint and Several Liability; Co-signers. The covenants and agreements of ~ this Security Instrument shatl bind and benefit the successors and assigns of Lender and Sorrow~er, subject to the provisions ~ of paragraph 17. Borrower's co~ enants and agreements shall be joint and several. Any Borsower who co-signs this Securit~ ; Instrument but dces not rrecute the Note: (a) is ~c~-signing this Secunty Instrument onl}~ ro mortgage, grant and conve~~ ~ that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pa}• the sums secured bv tfiis Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, ~ ' nsodify, forbear or make any accommc~dations v?~ith regard to the terms of this Security Instrument or the Note without that Borrow•er'sconsent. ~ ~ ll. Loan Charges. If the loan secured by~ this Ser.urity Instrument is subject to a law which sets maximum loan f ~ ~ charges, and that law is finaUy interpreted so that the interest or other loan charges collected or to be collected in ~ ~ connection ~vith the loan esceed 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 owed i under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction w~ill be treated as a j ~ ~+artial prepayment w~ithout any prepayment charge under the Note. ~ 13. Ixgislation Affeeting Lender's Rights. If enactment or expiratu~n of applicable laws has the effect of ; rendecing any provision of'the Note or this Security Instrument unenforceable acrording to its terms, Lender, at its option, ~ may require immediate pay~ment in full of all sums secured by this Securit}~ instrume~t and may imoke an}~ remeaies ; permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph af ~ i E ~aragraph 17. l4, tiotiees. Any~ notice to Borrow~er provided for in this Securitp Instrument shall be gi~~en by delivering it or by ~ ma~liag it by first class maif unless applicable law requires use of another method. The notice shail be direeted to the ~ Property Address or any other address Borrow~e: designates by notice to Lender. Any notice to Lender shall be given b}~ ~ ~ fir.,t class mail ro Lender's address stated herein or any ather address Lender designates b}~ notice to Borrower. Any notice ~ ~,ro~~ided for in this Securit}~ Instrument shail be deemed to have been gi~en to Borrow~er or Lender when given as provided ~ in this paragraph. ' 15. Governing Law; Severabilit~•. This Security~ Instrument shall be governed by federal law~ and the law of the t . . . ~ , - s ~uricdicti~n ~n whirh thP Pmfwrtv I.~~ro~~ r~ :ti` - -r---~ `~ua uia~ aTi~ Niv.iii~ni v~ uAU~C UI iiil~ JCCUfIIy 1i1~iFUfTICiII Of Ihe ~ tiote conflicts with applicable law, such conflict shall not affect other provisions of th~s Security instrument or the Note < «hich can be given efiect without the conflicting provision. To this end the provisions of ihis Security Instrument and the ¢ \ote are declared to be severable. : ~ l6. Borrower's Copy. Borrower sha)I be given one confo: med 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 any ~ ~ ~nterest in it is sold or iransferred (or if a beneficial imerest in Borsower is sold or transferred and Borrow•er is not a natural , ; ~erson) without Lender's prior wntten consent, Lender may, at its option, require immediate payment in ful! of atl sums ~ecured by this Security Instrument. However, this option shall nor be cxercised by~ Lender if exercise is prohibited by i~deral law~ as of the date of this Security Instrument. If Lenc~er exercises this option, Lender shall give Borrower notice of acceleration. The notice sha11 provide a period c~f not less than 30 days from the date the notice is de~ivered os mailed w~ithin which E3orrower must pay all sums secured by this Security [nstrument. If Borrower fails to Pay these sums prior to the expiration of this peric~d, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 18. Borrow~er`s Right to Reinstate. I~Borrower meets certain conditi~ns, Borro~•er shall ha~~e the right to have ~nforcement of +his Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other periad as . ~~pplicable lau may spec~Cy~ for re+nstatement) befcre sale of the Propert}~ pursuant t~ any pnwer of cale r_o~t?~sP~~ rh~s ' Secunty Instrument; or (b) entry of a judgment enforcing thic Security [nstrument. Those conditions are that Borrow•er: (a) paps Lender all sums w•hich then would be due under this Security Instrument and the Note had na acceteration cxcurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Seeusity Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lend~r may reasonably reyuire to as,ure that the iien of this Security Instrument, Lender's r~ghts in the Property and Borrower's obfigation to pay the ~ums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security ~nstrument and the obligations secured hereby shall remain fully effective as if no acc~le~ation had c~ccurred. However, this right to reinttate shaU not apply in the case of acceleration under paragraphs 13 or 17. aooK 675 P~ ~E 2898 ~ _ r;. ~ti~ _ _ .hw ~