Laserfiche WebLink
00006887 <br />paytnetcts aiay no longer be required, at the option of bender, if mortgage insurance coverage (in the amount and for the period <br />that Lender requires) provided by an insurer approved by Lender again hecomcs available and is obtained. Borrower shall pay <br />the premiums required to maintain mortgage insurance in effect, or to provide a loss reserve, until the requi.reinum for mortgage <br />insurance ends in acs ordi aicc with any written agreement between Borrower and Lender or applicable law. <br />9. inspection. Lender or its agent may make reasonabJe entries upon and inspections of the Property. i.ender shall give <br />Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. <br />10. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any <br />condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and <br />shall be paid to Lender. <br />In the event of a total taking of the Property, the proceeds shall be applied to the sums sccurcd by this Security Instrument, <br />whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property in which the fair <br />market value of the Property immediately before the taking is equaJ. to or greater than the amount of the sums secured by this <br />Security Instrument immediately before the taking, unless Borrower and Lender otherwise agree in writing, the burns secured by <br />this Security lnstturnmt shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total <br />amount of the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediately <br />before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair <br />market value of the Property immoiiatcly before Lhc taking is less than the amount of the sums secured immediately before the <br />taking, unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides, the proceeds shall <br />he applied to the sums .secured by this Security Instrument whether or not the sums are then due. <br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to matte an <br />award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, <br />Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums <br />secured by this Security Instrument, whether or not then due. <br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or <br />postpone the due date of the monthly payments referred to in paragraphs t and 2 or change the amount of such payments_ <br />11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the tune fur payment or modification <br />of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall <br />not operate to release the liability of the original Borrower or Borrower's successors in interest_ Lender shall not be required to <br />commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify esnurtication <br />of the swim scuumd by this Security Instrument by reason of any demand made by the original Borrower or Borrower's <br />successors in interest. Any forbearance by Lender in exercising any right or remedy shall not he a waiver of or preclude the <br />exercise of any right or remedy_ <br />12. Succ:emors and Assigns Bound; .point and Several Liability; Co- signers. The covenants and agreements of this <br />Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of <br />paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co -signs this Security <br />Instrument but dc;ms not cxcuuLC Lhc Notc; (a) is cc- signing this Security Instrument only to mortgage, grant and convey that <br />Borrower's interest in the Property under the terms of this Security Instrument: (b) is not personally obligated in pay the sums <br />secured by this Security lnstrtimcnt; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or <br />make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. <br />13. Loan Charges. if the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, <br />and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with tho <br />loan exceed the permitted Iimits, thcn, (a) any such loan charge shall be reduced by Llic amount accessary to reduce the charge <br />to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to <br />Rnrrnwer. Lender may choose. to make this refund by reducing the principal owed under the Note or by making a direct <br />payment to Borrower. If a refund reduces principal, the induction will lac tivaLca as a partial prepayment without any <br />prepayment charge under the Note. <br />14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing <br />it by first class mail unless applicable law requires use of another nxethod. The notice slut] be dirccuxl to the Property Address <br />or any other address Borrower designates by notice to Lender_ Any notice to Lender shall be given by first class mail to <br />Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this <br />5eeurity Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragrdpli. <br />15. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the <br />jurisdiction in which the Property is located_ In the event that any provision or clause of this Security Instrument or the Note <br />conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Ncxc which can be <br />given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Now are declared <br />to be severable. <br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Notc and of this Security Instrument. <br />-6R(NE) Ml Z.04 <br />Page 4 v G <br />form 3028 $190 <br />hiiYialy: <br />90/90'd SH6MO£ I 'ON XV3 SON I AVS IVd H h 3WOH 90:80 nH1 00 -H -00V <br />