99100525 - Laserfiche WebLink

Browse

payments r�ay no lo;iger be req��ired, at the�ption of I,ender, if mortgage insurance coverage(in the amount and foc the periad : that Lender require:,) provided by an insurer a.pproved by Lender again becomes available and is obtained. Borrower shall pay the premiums requin�cl to maintain mortgage insurance in effect, or to provide a loss reserve, until the requirement for cnortgage insuranze ends in accordan�e with any written agreement between Botrower and Lender or applicable law. 9. Icaspection. Y..ender or its agent may make reasonable entries uaon and inspections of the Fmperty. I.ender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for ttie inspection. • 10. Condemn�rtcon. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other t�ilcing of any pa�t of the Property, or for conveyancc in lieu of condemnation, are hereby assigned an*i : shall be paid to Lender. In the event of.i total taking of the Property, tha proceeds shall be applied to the sum.e secured by chis Security Instrument, whether or not then due, with any �xcess paid to Botrower. In the event of a partial taking of the Property in which the fair market value af tre )'n�perty ir*.imediately before the taking is equai ro or grester than the amount of Che sums secured by Uiis : Securiry lnstrument immediately before the takirg, unless Borrower and Lender otherwise agree in writing, the sums secured by this Securiry Instrum.ent shall be reduced by the amount of the proceeds multiplied by the following fraction: ta}the total : amount of khe sums secured immediately bcfore the taking, divided by rb) the fair market value of the Property immediately before the taking. A:1y balance shall be paid to Borrower. In the event of a partial takin�; o.° the Property in which the fair market value of the F'roperty immediately before the taking is less than che amount of the sums securec� immediately before the : taScing, unless Borrovier and L,er,der otherwise agree in writing or unless applicable law ocherwise provides, the oroceeds shali be applied to the siim;securtd by this Security Instrument whethe:or not tre sums are then due. � If the Property is abandoned by Borrower, or if, after notice�y Lender to Bonower that the condemnor offers to make an a award or settle a claim for damages, Bonower fails to respond. to L.snder within 3C days afrer the date the notic� is given, � Lender is authorized to collect and app:y the proceeds, at its o�,tien, either to restoration or repair of the Property or to the sums � secured by this Security Instrument, whether or not then due. ;--� Unless Lender .md Borrower otherwise agree in writing, any application of proceeds to priifcipal shall not`�extend or �' ' postpone the due date of the:nenthly payments refened to in paragraphs 1 and 2 or change the amount of such payments. � '. 11. Bnrrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modificatio� 4 ; of amortization of the sums secured by this Security Instrument granted by L,ender to any successor in interest of Borrower sha11 � not operate to release rhr: liabitity of the original Borrower or Borrower's successors in interest. Lender shall not be required to � commence proceeding:; against any s�iccessor in interest or refuse to extend time for payment or otbenvise modify amortization (� af the sums secured by this Security Instrument by reason of any demand made by tfne original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shali not be a waiver of or preclude th� exercise of any right or remedy. : l2. Successors and Assigns Bound; 3oint and Several Liability; Co-signers. The covenants and agreements of this Secunty Inst*ument shall bind and beaefit the successors and assigns of Lender and Bonower, subject to the provisions of : par�graph 17. Borrow;;r's covenants and agreements shall be joint and several. Any Borrowe: who c�-signs this Securiry : lnstrument but do�s not ezecute the Note: (a) is co-signing this Secutiry Instrument only to mortgage, grant and convey that F3orrower's interest in the Property under the terms of this Securiiy InstramEnt; (b) is not personally obligated to pay Ihe sums : secured by this Security Instrument; and (c) agrees that Lender and any other Barrower rstay agree ro extend, modify, forbear or ir�ake any accommodations with regard :o the terms of this Security Instrument or the Note without that Borrower's consent. 13. Loan Cizarg�. [f the luan secured by this Security Instrument is subject to a;aw which sets maximum loan charges, and chat taw is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed the permitted limits, then: (a) any such loan charge shail be reduced by the amount necessary to reduce the charge to the permicted limit; aad (b) any sums already collected from Sorrower which esceeded permitted Iiznits will be refunded to Bonower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. !f a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 14. Notices. Any nntice to Bonawer provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unle:;s applicable law requires use of another meihod. The notic,°. shall be directed to the Fropeny Address or any other address Bor:ower designates by notice to Lender. Any notice ro L.ender shalt 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 lnswment shail be�leemed to h�ve been given to Borrower or l.ender when given as provided in this paragraph. 15. sovexning LaK; SeverabiliSy. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the F'ropeRy is located, In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Secu�ity Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security lnstrument and the Note are declared tv be severable. Y6. Borrowea�'s t'opy. Barrower shall be given one cunformed copy of the Note and of this Securiry Instrument. Form 3028 9/90 �•BR(NE1 iezi z�.o2 rsya a oi s � InlUds ' i i � t i � � _ i , "; . � t d • � /_