88104489 - Laserfiche WebLink

Browse

88_104489 If Lender required mortgage insurance as a condition of making the loan sccured 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 agreement or applicable law. 8. Inspection. Lender or 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. 9. 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. are hereby assigned and shall bc paid to Lender. In the event of a total taking of the Property, the proceeds shall be applied to thc .ums secured by this Security Instrument, whether or not then duc:, with any excess paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by thc amounl of the proceeds multiplied by the following fraction: (a) thc total amount of the sums .ecured immediately beforc the taking, divided by (b) the fair markct value of the Property immediately bcforc the taking. Any baJancc shall be paid to Borrower. If the Property i!t abandoned by Borrower. or if. aftc:r Ilotice by Lender to Borrower Ihal.he condemnor offers to make un award or scnle a claim for damages. Borrower fails to respond to Lender within 30 day' after the date the notice is given. Lender is authorized to collect and apply the proceeds, at irs option. either to reslOrallon or repair of the Property or 10 the ,urns !.ccured by this Security Instrument. whether or nm then due. Unles!. Lender and Borrower otherwise agree in wril:ing, any application of proceed!'. 10 pnn~lp31 ~hal1 not extend or postpone the due datc of the monthly payments referred to in paragraphs 1 and 2 or change thc amount of soch pa)'ments. 10. Borrower Not Released; Forbearance Dy Lender Not a Waiver. ExtCII!'.I(lO of the time for payment or modificallon of amonization of the sums secured by this Securit~' Instrument granted hy lcnder 10 any !l.uccessor in tntcfl."\1 of Borrower !thall nol operate to release the liability of the original Borrower or norruwer's !tuccessor~ in interest. Lender shall nnt be required to commence proceeding!<l agains! any successor in intere~t or refuse 10 extend time for paymenl or otherWise modify amortization of the sums ~ecun:d b~' this Secunty Instrument by reaMm of any demand made hy I he original Borrower or Borrower"s successors in interest. Any forbearance by lender in exerCising any right or remedy shall nul be a waiver of or preclude Ihe exercise ofan~' right or remt.-dy, II. Succcssors and Assigns Bound; Joint and Several LiahililY; en-signers. The c",enants and agrecmenls of Ihl!t Security In~lrument shall bind and benefit the succes~ors and assigns of lender and Borrower, subject to the pro\"isiuns of p.ITilgTaph 17. Borrower"!In!'ltrumcnl hut doc~ nnt execule the Note:: (a) is co~signing thi~ Security Jnstrument only to mortgage. grant and con"'ey that Bonnwer'!ollnterc~t In the Properly under the terms of this Secunty Instrumen!, (h) i!\ nol personally obhgated to pay the 1'tUnt!<l !.ccurcd by tlus Se~urity Instrument; and (c) agrees that lender and an) other Borrower may agree to extend. modify, f()rb~lr or make any uccommodations with regard to the terms of thl!ol Sccunty In!'.trumem or the Note without thut BorrO\\'cr's COI1~cnl 12. Loan Charges. If the loan !ooccured by this Security Instrument I!\ !!oubje~t 10 a law which sc:b maxImum loan chargc.~. and Ihal law i~ finnIly interpreted so thai the intcn.-sl or 011..:r I,'all chargl"\ ~ollected ('r to be collected in cnnnc".l1on with lhe loan exceed the permitted limits, then: (a) any such loan charge !thall bc rc.-ducc:d h~' the amount ncccs'ar)' 10 reduce the charge to the pennined limit: and (b) any sums already collected from Borrower which excceded pcnnil1c.-d limit!<l will be refunded to Borrower. Lender may c1lll11'C 10 makc tlll\ refund h~ rc:ducmg the pnnclpal owed under the Nolc or by making a direct payment to Borrower, If a refund reduc~ pnnclpal. the rt"duction will he 1Teated a"i a partial prepayment without any prcpa)'ment charge under the NolC. 13. LeRislation Affecting Lender's RiRhts. If enactment or eXplrdtlllU "f apphcable laws has thc effecl of rcndcnng an)' provision of the Note or this Securily Instrumenl uncnforceabl~ aCl'ordmg tllll"1crm~. Lender, at Its option. may require immediate paymenl in fuJl of all ~um!t ~ccurcd hy Ihl'i Sccunt~ 111~(rumenl and may in'ioke any remedies pt."rnt1tlcd by paragraph lQ. If lender exercises this npllon. l~nder !l.hall take the 'teps 'pccified in Ihe second paragraph of paragraph 17. 14. Notices. Any oOllce 10 Borrower pro\'ldt~d form Ihis Secunl~ InMrumcnl shall he: gi,.cn b~ dell\'enng II or by mallmg it by first class mail unless applicable law reqUIres use of anolhcr method. The nollcc !\hall be directcd to the IJropeny Address or any other address Borrower designales by notice 10 lender. Any nOllee 1O lender shall be given by firsl class mail to Lender'~ address Slated herein or any 01her address lender deslgnale. b)" notice 10 Borrower. Any nOllce prOVided for in tlns Security Instrument shall be deemed 10 have heen gin:n 10 Borrower or Lender when given as provided 10 I hIS paragraph. 15. Governing Law; Sevcrability. ThIS Security Instrument shall he governed hy federal law and Ihc law "fthe juri~diction in which the Propcny is located. In thc ('venl that any pro\'lslon or dau~e of Ihl~ St:~unly In~(rument or the Note connicts with applicable law, such conflict shall not affect other pn)\.'i~lons of Ihl!'. Security Imilrument or Ihe NG~~ whll:h can be given effect without lhe confhcling provision, To thi~ end the proYislOm, of thl" Sccurity InslTumenl and the NOle arc declared to be severable. 16. Horrower's COP)'. Borrower shall be given llnc conformed copy llr the NOIe and oflhis Securuy Instrument 17. Transfcr of the Property or a Beneficiallntcresl in Borrowcr. If all or any part of the Property or :111)' inlcr~t in it is sold or transferred (or if a beneficial inleresl," Borrower I~ !\old or transfern:d and Borrower i:-o. nol a natural person) wilhoUI lender"s prior wriuen consent. lender may, at ils op1JOn. rcqUln.. Immediate payment in full of all !'ium!'. secured by this Security Instrumcnl. Howevcr. Ihis oplion shall nOI be eAclci!o.cd hy lender If exercise IS pr.lhibllc:d by federal law as of the date of this Sccurity h"trumenl. If lender exercises this option. Lender &l1all give Borrower notice of acceleration. The notice shall provide a period of nOlle.. than 30 days from the date Lhe notice IS dehvered or maIled within whICh norrow'" must pay all sums se<ured by this Security Instrument. If Borrower fails to pa} these sums prior 10 Ihe cxpirallon llf thi, period, Lcnd~r may In\'okc <Jny remedies permitted by th~s Security Instrument without further notice or demand un Borruwcr. 18. Borrower's Right to Reinstate. If Borrower meets certain condition.., Uorro"C:f !'lhall have the nghllo have enforcement of this Security Inslrument discontinued at any lime prior to thc earhcr of: (a):; Jay.. (or !tuLh olht:r pCrlod a~ applicable la\." may specify for reinstatement) before sale of Ihe Property rur..uant III an) power tlf ~;:llc L:onlaincd J[\ Ihl.. SecuTlt} Instrument; or (b) entry of a judgment enforcing this Sccunly In!'llrUmenl Thll!'lC cnl1dllillll~ arc: lhat Borrll"c:r: (a) pays lender all sums which Ihen would be due under this Security Instrumcnt and thc Nolc haJ Ill) accc!cnJllon occurred; (b) cures any default of any other covenanls or agreements; ee} pa~!o. all Cll.pcn~c.. illl.:urrcd in enforl'lng thl~ SecurilY Instrument, including, but not limited to, reasonable attorncy!'l' fec!\; and (d) takc!'l such action as Lendcr ma} reasonably require lo assure that the lien of this Security Instrument, lcndc(~ right!'! III lhe Pl'tlperl~ and Borrower's obhgatlon 10 pay the sums secured by this Security Instrumcnt o;hall cimllOue ullchangcu. Lptlll rClllslalcnlent h~ Born"Aer, 11th. Security Instrument and lhe obligalions secured herehy ..hall remam fully t."freclJ1o'l"~ a!'. if no aL'L"dcralloll had 11CCUfTCU However, Ihis righllo reinstate shall not apply In the ca~c {Jf .H;cek'rat\l\J1 undt.:'1 raragrarh!'. 11 {If 17