200006898 - Laserfiche WebLink

Browse

200006898 244900511 payments may no longer be requited. at the option of Lender. if mortgage :allur=e coverage Cm the amount apt for the peri A that Landis requires) provided by an insurer approved by leader again becomes available and is obtained. shall pay the ` premiums reggmired to maintain mortgage insurance in effect, or to provide a loss reserve, until the regtn� for mortgage insurance ends in accordance with any written agreement between Bortwer and Leader or applicable law. 9. Inspection. Lender or its agent may make reasonable entries upon and inspection of the prrperty. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 10. Condemmatim. The proceeds of any award or claim for damages, direct or coampiCat al, in wmxctim with any condemnation or othe taking of any part of the Property, or for conveyance in lieu of condemaation, are hereby assigned and shall be paid to Lender. In the event of a total talang of the Property, the proceeds shall be applied to the snots secured by this Security instnmmen:, whether or not then due, with -ray excess Maid to Borrower. In the event of a partial taking of the Property in whirl the fair marloet value of the Property ihhnnediately before i�ie taking is equal to or greater than'tbe amount of the Simms seamed by this Security Instrutruent immediately before the tale rag. unless Borrower and Lender otherwise agtec in writing, the stunt secured by this Security Imtruracm shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the taking, divined by (b) the fair market value of the Property immediately before the aking. Any balance shall be paid to Borrower. In the event of a partial taldng of the Property in which the Stir market vahe of the Property immediately before the tald.,g is less than the amount of the sums seemed immediately before the taking, unless Borrower and Lender otherwise agree m writing or unless applicable law otherwise provides, the proceeds shall be applied m the shuns secure d by this Security instrument whether or not the stmms are tben due. If the Property is abandoned by Borrower, or if, after notice by Leader to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond m Leader within days after date notice' Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the stuns secured by this Security Instrument, whetter or not then dare. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the dux date of the monthly payments referred to in paragraphs I and 2 or change: the amount of such payments. 11. Borrower Not Released; Forbearance By Lender Not a Waterer. Extension of the time for payment or modification {' this Instrument granted b_v Lender to any successor in interest of Borrower shall of amortization of the stets sectored by Security not operate to release the liability of the original Borrower or Borrower's suuccessots in interest Lender Shari not co continence proceedings against any successor in interest or refuse to ealmd time for pay mtmt or otherwise modify amortization of r the suss secured by this Security by reason of airy demand made *_y the original Borrower or Borrower's ;wise of n in ire. crest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclunde the exercise of any right or remedy. 12. Successors and Assigns Bound; Joint and Several LiabtMy; Co,4Cnem The covenants and agreements of this Security Instrument shall bind and benefit the suaasors and assigns of bender and Borrower. subject to the provisions of pa,a aaph 17. Borrower's covenants and agreements shall be joint and srv±at_ Any Borrower who co-signs this Security Instrument but does not exe:ttte the Note: (a) is this Secvriry InsOnument only to mortgage, grate and "onveY that Borrower's interest ;n the Property trailer the terns 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 p make any accommodations with regard to the tetras of this Security tastrument or the Note without that Borrower's consent. 13. Loan Charges. If the loan secured by this Security Instrument is subject to a law which setts 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 exco d clue 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 take this refund by reducing the principal owed under r;te Note or by making a direct payment to Borrower. If a refund reduces principal, the redaction will be treated u a partial prepayment without any prepayment charge under the Note. 14. Notices. Any notice to Borrower prrnided for in this Security Ins m truent stall be given by delivering it or by muffing it by first class mail unless applicable law req, rnu res use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to L ender. Any notice to Lender shall be given by fist class mail to Lender's notice to Borrower. notice for in this Security : address stated herein or marry other address Lender designates by Any provided Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. IS. Governing Law; Sevability. This Security Instrument shall be governed by federal law a the ]aw of a and the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the t4ote, _ conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note,are declared to be severable. Forth 3028 9M ,�6H(NE) ryap9}Ot °44dd Yom. 'C"'."' c� x.: