99111774 - Laserfiche WebLink

Browse

� y ' �`� ' ��1�7�7 4. . 9. Inspection.Lender ar its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 10.Condemnation.The proceeds of any award or 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,aze 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 Instnunent,whether or not then due,with any excess paid to Bonower.In the event of a partial taking of the Property in which the fair market value of the Property immediately before the taking is equal to or greater than the amount of the sums secured � by this Security Instrument immediately before the taking,unless Borrower and Lender otherwise agree in writing,the swns secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total atnount of the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking.Any balance shall be paid to Borrower.In the event of a partial taking of the Property in which the fair market value of the Property itnmediately before the taking is less than the amount of the sums secured immediately before the taking,unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides, the proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower,or if,after notice by Lender to Bonower 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 authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Securiry Instrument,whether or not then due. Unless Lender and Bortower otherwise agree in writing, any application of proceeds to principal shall not extend ar postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. 11.Borrower Not Released; Forbearance By Lender Not a Waiver. Fxtension of the time for payment or modification of amortization of the sums secured by tlus Securiry Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest.Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Securiry Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest.Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 12.Successors and Assigns Bound; Joint and Several Liability; Co-signers.The covenants and agreements of this Security Inst.niment 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 Bonower who co-signs 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 tertns 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 that Borrower's consent. 13.Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maYimum 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 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 swns 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. 14.N4tices.Any notice tn Borrower provided for in tlus 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 sha11 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 Securiry Instntment shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15.Governing Law; Severability. This Security 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 clause of this Security Instrument or the Note conflicts with applicable law,such conflict sha11 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 Insmzment and the Note are declazed to be severable. 16.Borrower's Copy.Borrower shall be given one conformed copy of the Note and of this Security Instnunent. Page 4 of 7 NE-2079-0899