90105430 - Laserfiche WebLink

Browse

r 90- 105430 If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the insurance terminates in accordance with Borrower's and Lender's written agrecrnent or applicable law. A. Itupecdoa. Lender or its agent mate Hake reasonable entries upon and inspections of the Properly. Lender shall give Borrower notice at the time of or prior toan inspection specifying reasonable cause far the inspection. 9. Condesraatloa. The proceeds of any award or claim for damages, direct or consequential. in connection with any condemnation or other taking of any pan 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 lastrwnent. whetherr or not then due, with any excess paid to Borrower. In the event of a partial talon of ibe Property, umbra Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Qroceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market value of the Property innniftuately before the taking. Any balancc aball be paid to Borrower. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the cY>t emvu ►r oilers to make= award or settle a cL-Aim for damages, Borrower fails to respond to Lender within 30 days after time d'ste the notice is given. La;it *I& authodtdd to collect and apply the proceeds. at its option, either to restoration or repair pf the Fioperty or to the sums; wcured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall Poi; extend or postpone the due dateof the monthly payments referred to in paragraphs I and 2 or change the amcvt on of such Osyments. 10. Borrower Not Released; Forbescaoee By Il w&r Not a Waiver. Extension of the time for payment or modification of amortization of the suns secured by this Security Instrwment granted by Lender to any sueonwr in interest of Borrower shall not operate to release the liability of the original Borrower ova 13":, *trower's successors in interest. Lender shall not be required to commence proceedings against any successor in inurest or refract to extend time for psymena or otherwise modify, amortization of the sums secured by this Securely Instrument by reauw of any demand made by the original Borrower or Borrower's sucimmrsea interest. Any forbearam;e by Lender in exerciai!rag any right or remedy ahfiii nit be a waiver of or preclude the exercise of'atty right or remedy. 111. Swcsaaora earl Atstlg*s Bond; Joint and So" LlJability; Co- signers. The covenants and agreements of this Secur4 Instrument shall bind and benefit the successors and assigns of Lender and 18i.wTower, subject to the provisions of paragraph 17. Borrower's covenants and agreements shall be joint and st~ wal• Any Borrower who co -signs this Security Instrument but does not execute the Note: (a) is co-signing this Security limst:rument 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 hums %ecured 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. 11 Loan Ciarges. If the loan secured by this Security Instrument is subject to a law which arts maximum loan charges. and that law is finally interpreted so that the interest or other loan charges collected or to be collected in oonnectioro with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary, Ro reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted d'mits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Zte or by making a direct payment to Borrower. If a refund rioAvices principal. the reduction will be treated as a partial prepayment without any prepayment charge under the Note. tit. 14gleIatioa Alfecdog Leader's RI&L If enactment or expiration of applicable laws hab the effect of rendering,&n provision of the Note or i,ilis Security Instrument unenforceable according to it` terms. lender, at its option, may require unmediate payment in full of all sums secured by this Security Instrument and may invoke any remedies ptxmilled by paragraph 19. If I.A nder exercises this option, Lender shall take the steps specified to the sccund paragraph of paragraph .17. 14. Notices. Any notice to ikwower prcwided Sor in this Security Instrument shall he given by delmering it or by mailing i't.bli first class mail unksx applicable law require► t►.w: of another method. The notice shall be directed to the Property Address or any other address Borrower desiparc% bf notice it) Lender Any notice to Lender shall be given by first class mail to Lender's address stated herein gran) ocher address Lender designates by notice to Borrower. Any notice provided for in thisSriamay Instrument shall bedetrimW to bave been given to Borrower or Lender when given as provided in this paragraph. M.' veraliq Law; Severabflity. This Sm-urity Instrument %hail he goserneed bl• federal law and the law of the jurisdicti= in which tae Property is located. In the event that any provisa►n or clause ot'this Security Instrument or the '.Nate coot acts with &U4wable law•, such conllict .xhdl not affect other provision% of this Smunly Instrument or the Note v■Mch ens be given efts without the conAtctit4 pamision. To this end the provision% of this Setiunry Instrument and the t4We arcs dew ared to be sevembk. 1d. Mkimttttir's Copy. Borrower shall be given one w+mfonned copy of the Note aiW of slit% Scrurity Im- imam; 17. Yraastar of the Property of a BeaetitiW la w at io Borrower. If all or any pan of the Property or any • :. .:.,...............�..,.:�..■.. ran n ■ ucncwrt■s inicmi to a`vrrowrr t• stria or irsnm rea and wrmwer m not a Owural person) without Lender's prior written consent, tAtwkr may, at its t►phor. require immediate rwyment in full t,lf all %ums secured by this Security Instrument. However. this option shall not be etieicised by Lender rf exercise is prohibited by fedesallaw"of the date of this Security instrument. rf Lender exercises this option, Lender shall give Borrower notice of acteleratum. The notice %hall prim wk a penod of not letes than 30days from the date the notice h deh%cmd or mailed within which Borntwer mot rye) all sums %&uref h) this Security Instrument. If Borrower fails to pe) these sums prior to the expiration of this perii►d, lender may invoke any remedies permitted by this Security Instrument without further ni,mce or demand sat Horraw er lr. Barrswu"e RIgAt to Reinstate. If Borrower mats ccriam cooddions, borrower shall haw the naht to have enlomvinent of th*42ioccurity Instrument dncotuinuod at any rime pn,,r to the earlier e►t la► 3 day %tzar such tither pentd A% applicable Ise► may specify for reimtatement► befi►re sak of the Property pursuant to an) rwise'r of vle contained in the% Security Ittantrurneih or (b) entry of o judgment enforcing thw Srcunty hi%trument i htne condun.ns are that t hirrmter (a) pays Lender all sums whwh then could be due under this Security lu%trument and the %'ate had no acceleratkin ix- urred. (b) cures any default of any other c(,%rnants or agreements, tc► ivy% all c%rcmes incurred in enfi4i ing this Secunl) Instrument, including, but not limited tt., rea%oeahle auormi%' fees. and (d) a ►r% %u.h aovm •% I cudrr ma% rrtwwmW) require its assure that the lien of thn Swum) Instrument. 1 ender'% nitht% m the llmperl% clef rnblignt►on to re) the sums vocurecl b) this Sm urit) Instrument %hall continue un:hangest ('p%,n rcin motcmcni h% UNFLACY'. thi Setunty Instrument and theutdiyatnm. wurcd hcreh% %hall remam fulh rAntt.e a% i1 tit+ ha %l rxcurred Holicter. this right to reinstate shall not apply m the caw 4 a.•eclerrtwv under p,ira'raph% 1 t ..r I 7 T t< OW I