89102549 - Laserfiche WebLink

Browse

89'-- 102549 it Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument. Bexrower shall. pry the premiums required to maintain the insurance to effect until such time as the requirement for the insurance ¢ to accordance with Borrower's and Lender's written agreement or applicable law. s; •_& • L alder or its agent may make reasonaMe entries upon and inspections of the Property. Lender ....awaivelrornwartiotiettkt the tune of or prior to an inspection specifying reasonable cause for the inspection. !. Cbeduan ties. The proceeds of any award at 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 be applied to the sums secured by this Security Itu rument. whether or not then due, with, any excess paid to Borrower. In the event of a partial taking of the Property. unless Sommer and Lender otherwise agree in writing, the stuns 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 secured immediately before the U&in& divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages. Borrower fails to respond to Lender within 30 days after the date the notice is given. Lender is ausho- riaet3 weellect andn)ply the proceeds, at its *option, either to restoration or repair of the Property or to the sums secured 4 this Seuviity Instnimment. whether or not then due. Unless Lender and Borrower othera ise agree in writing. any application E *f proceeds to principal shall gvis extend or postpone the due date of the monthly payments referred to in paragraphs I And Z or change the amount ref such payments. 10. Borrower Not Released; Forbearance By Under Not a Waiver. Extension of the time'for payment. or modification of amortization of the sums secured by this Security Instrument granted by Cider to any successor in interest of Boraowe t shall not operate to reinse the liability of the original Borrower or Rp=ver's successors in interest. Lander shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwnsee modify amortization of the sutras secured by this Security Imirument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any fotttearance by Leader in .exercising any right or terneft shall not be a waiver of or preclude the exercise orally right or remedy. 11. Successors and Asdps Bond; Joint and Several liabilYty CA)- Viers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower. subject to the provisions of paragraph 17 Borrower's covenants and agreements shall be joint and several. Any Borrower who cosigns this Security Instrument but does not execute the Note: (a) is co-signing this Security instrument only to mortgage, grant and 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 - �rlfe Rf1KA1tIf<f A��RllL�, 12. Loeaa CGarre. If the lain t+ecured by this Security Instrument is subject to a law which sets maximum loan charges. ana that law is finally interpreted so that the interest or other town charges coilexicd or iv tK collected is 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 refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 13. Legislation ARaetity lenders Ruts. If enactment or expiration of applicable laws has the effect of rendering any provision of the Note or this Security instrument unenforceable according to its terms. Lender, at its option. may require immediate payment 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 step, specified in the second paragraph of paragraph 17. - 11, Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it 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. CoVerta trg Law; Sewerability. This Se cunv 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 ramose of this Security Instrument or the Note conflicts with applicable law. such coinflict shall not affect other provisions of this Secunty instrument or the Note which can be given dFact without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrweet's Copy. Borrower shall be Riven one conformed copy of the Note and r,�f this Security Instrument. 17. Trnder of the Property ore Beneficial Interest is Borrower. If all or any p.kit of the Property orally interest in it is sold or transferred (or if a beneficial interest in Borrower. is sold or transferred urd Horra -wee is not a natural person) without Leader's prior written cma.ent. Under may, at its option, require immediate.. payment in full of all sums secured by this Security Instrument. Hr*vfer. this option stiall not be exercised by Under if exercise is prohibited by federal law as of thedate of this SecuntyiOstrume:nt.. If Lender exercim eyrie option. Lender shall Stevie $orrower notice of acceleration The notice shall provide a period of not less than 30 days from i he date the notice is derive -red or mailed within which Borrower must pay all sums secured by th;s Security Instrument. If Boirower faif's (b pay these sums prior to the expiration of this period. Lender may invoke ea3, remedies permitted by this Security irtstryipent without further notice or demand on Borrower. 16. Bsraswar's Rfg(Itt to Re(wMOe. If Borrower mats certain conditions. Borrower shall have the right to have enforcement of this Sec== ttixtrument discontinued at any time prior to the earlier of: (a) S days (or such other period as applicable law may specify fcrotr. reinstatement) before sale of the Property pursuant to any power of sale contained in this j Security Insiruramt. air (b) entry of a judgment enforcing this Security instrument Those condiuoas are that 11otfower i-•r. (a) pays l en4et-*1l sums which then would be due under this Security Instrument and the: !ante had no a"elerauon nccurred. (b) cures any default of any other covenants or apeements. (c) pays all expense-, incurred in enforcing this Sexurtly Instrument, including; but not limited to, reasonable atrornrys' fees. and id) tastes Such action as bender may re vet -nahly require to assure that the lien of thn Security instrument. Lender's rights in the Property and Marro ver% obhgatt %n to par the sums secured by th +s Security instrument shall continue unchanged ('p+in reinstatement hf .wrtSciw%S, rl;ii Sei.;iniy Ira;trurc;a: iTria Sri: t:!+!IR,rtlart, •..CC tired tIMCt>v shall r.:m.::n fL'll`f' Lil"t:Ct! ►!.' as if n/, u(•c,f t[ril[liin hart ,W C erred IfemeKr, thi3 right tit reinstate r.hall not apply in the ca%c o(IILaFipraUurt urider r3ragrdrhs 1 1- t' L�