89100495 - Laserfiche WebLink

Browse

F L 89-= 100495 If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument. Borrower shall pity tlgr prsta a" required to maintain the insurance in effect until such time as the requirement for the insurance terminates inaccogdanot with Borrower's and Lender's written agreement or applicable law. a. InspeetMe. Lender or its agent 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 damagm 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 be applied to the sums secured by this Security Instrument, whether or loft then due* with any excess paid to Borrower. In the event of a partial taking of the Property, unless Borrowem and Lender othertise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount eld, proceeds mu ltipW by the followirtS ftziearr (a) the total amount of the sums secured immediately Were the tag M4, divided by (b) the fair market value of tie ftgerty immediately before t1h-. taking. Any balance shall be p onto Bom wer. If thl: Property is abandoned by Borrower,, Qr if, after notice by Lender to Botroww'that the condemnor offers to M3lke Pub $murd or settle a claim for damages. Borrower fails to respond to Lender within 31J days after the date the notice is ge , ILet ds authorized to collect and apply the proceeds, at its option, either to restore n or repair of the Property or tees tesums secured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds; ao principal shall not extend or postpone the date date of the monthly payments referred to in pararraphc t a tVI 2 or Ctrs" :a khe Mount OF such payments. 10. Borrower Not Released Forbearance By lender Not a Wali4m, Eit Q of the time for payment or modification of amortization of the swims secured by this Security Innrij&rk et grar.Wr - Foy Lender to any successor in interest of Borrower shall not operate; to mlesse tlttr liability of ft crigitz ! &mtower oe Dorrowefs successors in interest. Lender shall not be required to commence prfjc*� dogs agaifIma arty suci r in interest or refuse to extend time for payment or otherwise modify amortization atthe sum secut e4by this Security lnstrumt i by reason of an demand made b the Y y original Borrower or Borrower's strrxess4ra in �aterest. Airng; i`orbearance by Lecidfi: � exercising any right or remedy. shall not be a river of or preclude the exercise oi'in .itgbt or rtm dy. 11. Saettesaoss and Assigns 801114- Joint tied Several Liability; Co- signers. tt covenants and &greenwm of" this Security Instrument shall bind and benefit the slumssors and assigns of Lender and Darrower, subject to the provisions' of paragraph 17. Borrower's covenants and agreements'shall be joint and w%=&l,L Any Borrower who co -signs this Security Instrument but does not execute the Note: (a) is co- signing this Security Inkrmement only to mortgage, grant and convey that Borrower's interest in the Property trader the terms of this Security Instrument; (b) is not personally obligated to nay the sums secured by this Security Instrument; and (c) agrees thit Lender and any other B arrower 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 Ctiarem 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 cas".ected or to be collected in connection with the loan exceed the permitted limits, then: (a) any such loan charge shalt" be. reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from, Botsrow•er which exceeded permitted limits will be refunded to Borrower. Lender may choose to make ibis refund by redi Cron'& the principal owed ,=dk:r the Note or by making a direct payment to Borrower. If a refund reduces principal;, the reduction will be treated as a +si M pri wymett without any prepayment charge under the Noss. legislatios ANeed" Lead;r's WSW If enactment or expiration of applicable laws has the Ada of rendering any provision of a,}te Note or this Security Instrument unenforceable according to its terms, Lender, at its option, 'may require immediate ps)ment in full of all sums. secured by this Security Instrument and may invoke any remedies Permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specifiod in the second paragrapbW paragraph 17. 14. Notices. Any notice to Borrower provided for in this Security Instrument sbzUbe given by delivering ft: 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 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. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. Goveraing Law; Severability. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. In theevent that any provision or clause of this Security Instrument or the Niue conflicts with applicable law, such conflict shall not affect rather provisions of this Security Itnm=ent or the Note ',which can be Oven effect without the conflicting provision. To tlihs end the provisions of this Security Instrument and the Note are deck ed to be severable. !., . 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Transfer of the Property or a Beneficial Inteoest in Borrower. If 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, require immediate payment in full of all sums secured by this Security Instrument. However; - this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. If Lender exercises this option. Lender shall give Borrower notice of acceleration. The notice shalt 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. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 1111. Borrower's Rigit to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property 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 Security Instrument, including, but not limited to. reasonable attorneys, fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17. 11 .f. i t• tn� M