89100038 - Laserfiche WebLink

Browse

r 89. 100038 If lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower shall pay the premiums required to maintsin the insurance in effect until such time as the requirement for the insurance terminates in accordance With Borrower's and Lender's written agreement or applicable law. 8, Iaspection. Lender or its wgent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 9. Condemnation, The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. in the event of a total taking of the Property, the proceeds shall he applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. 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 following fraction: (a) the total amount of the sums secures; iauucrui�iYely before the taking, divided by (b) the fair market v ralue of the Property immediately before the taking. Any balance shall be paid to Borrower. If the Property its abandoned by Borrower, or if. after notice by Uo ider to Borrower that the condemnor offers to make an award or settle a claitnt ferr damages. Borrower fails to respond iu-r Lender whthirr! 30 days after the date the notice is given, Lender is authorized te+v;ti1'Nt and apply the proceeds, at its option; either to resit nation or m-pair of the Property or to the sums secured by this Sccut" instrument, whether or not then due. Unfxss Lender and 1304Tat %wotherwise agree in writing, any application of ps x, i ds to principal shall. not extend or postpowe Kit due date of the tQyo' ility payments referred to ire paragraphs I and 2 ev Q. i,;nasge the amount of queen ppca,yments, 1@I 'Hortrower Not Redettgcd; Forbearance By I.e&er Not a Waiver. tnkension of the time flit 04 ..tnt or modificatkh of the sums secured by this Security Instrument graihied by Lender to any'ue.cessm in interest pf 19!errew .�tS;�1 F ttrM � irate to release the liability of the original Borrower or Borrower's successors irm nn' teresii: Lender sha!M nat< be mq>uuW so commence proceedings against any successor iti f,--serest or refuse to exG�cd time for paymen:. �x earth er i e r nil amortization of the sums secured by this Security AnKtta 4ment by reason of any dnnand made by the orbs xli II,xtt xvrceror Borrower's successors in interest. Any forbeartrnae by"l Wkr in exercising any right or remedy shall net lire ga wi a ver oft Orr preclude the exercise of any right or remedy;.. Up" Sime aors and Assigns Bound; Joint and Several Llik l>lity, signets. The covet=ts and agreements u4r.. this Security Instrument shall bind and benefit the successors and assigns of Lender subject to the provisiiutwk ; of paragraph 17. Borrower's covenants and agreements shall be dint. and several. Ahy.Borrower who co- signs. ih%Security Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage, grant nerd 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 Lender 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 loan secured by this Security Instrument is subject to a law which 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 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 t:s zzid by reducing the pzncipal owed under the Note or by making a direct payment to Borrower. If a refund reduces princ tr 'u the reduction witl:.f* treated as a partial prepayment without any prepayment charge under the Note. I& i.e&Iation Affecting Lender's Rights. If enactment or "expiration •o£ sll# �-iabk laws has the effect of rendering any provision of the Note or this Security Instrument unenforceable acc idirg to its terms, Lender„ of its option; may require immediate payment in full of all sums secured by this Sectihty Irstruruent and may invoke aay: remedies permitted by paragraph 19. If Lender exercises this option, Lender shall take the steles specified in the second *4raph of paragraph` 17. 14. Notices. Any notice to Borrower provided for in this Secuirfy.gttsirtx=nt shall be given by delivering it or by r mailing it by first class mail unless applicable law requires•u.se.+if aAothtr ineiN4,The notice shall be directed to the Property Address or any other address Borrower designates bg: rtorece to Lender. Airy.: notice to Lender sh.all,1 *. 'vet}. by ? ` first class mail to Lenders address stated herein or any other address' Le#tder designates by notice to Boar }rye r.. A v notice.. #k , provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when givtie zs provided! in this paragraph. 1S. Gorehdng Law; Sevt~rability. This Security Instrument shall be governed by federal law and. the law of the' jurisdiction in which the Property is located. In the event that any provision or clause of this Security Insirutk,ent or the Note conflicts %ith applicable Iav� such conflict shall not affect other provisions of 'this Security Instrument or the Note which can be swen c5cct without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declarediobe severable. 16. Borrowees Copy. Borrower shall 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 pan of the Property or any interest in it is sold or transferred (or if a beneficial interest iii Borrower is sold or transferred and Borrower is nou a natural person) without Lender's prior written consent, Lender rrmy, at its option, require immediate payment in full' ofall sums secured by this Security Instrument. However, this option shall not be exercised by Lender if..ecercise is prohibited federal law as of the date of this Security Instrument. If Lender exercises this option, Lender shall give BcrCower notice of acceleratzon. The notice shall provide a period: - — -- of not less than 30 days from the Hate the notice is dc:i,.ered.pr mailed %;thin which .Bc irrower" must pay all sums, secured by.' this Security Instrument. If Borrower fails to pay these'suths prior to rt_e expiration. o,f this period, Lender may invoke any . ! remedies permitted by this Security Instrumentmithout further notici%o demand on borrower. ' : 18. Borrower's Right to Reinstate. If Borrower meets ceLtscrr conditions. Borrower stuU have the right to haw -. enforcement of this Security Instrument discontinued at any tirne prior to the earlier of (a) 5 days (or such other period as' applicable law may specify for reinstatement) before sale ©f the Properly pursuant to any power of sale contained 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 Note had no acceleration occurred: (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this ti Security Instrument, including. but not limited to, reasonable attorneys' fees; and (d) takes %itch action as lender may �p tcasonahly require to assure that the lien of this Security Instrument. Lender's rights in the Property and Borrower's t� obligation to pay the sums secured by this Security Instrument shall continue unchanged l'Imn reinstatrrnent by ltorrouer. thvs Security instrument and the obligations secured hereby %hall remain fulls efTecu.c as if no acceletatton haul f1cc•urred lloac%cr thtsnght to reirMate %hall not apply rn the case of accelcianori under 1).mi ;rarhs i A of 1"t 9