88104703 - Laserfiche WebLink

Browse

88- 104703 If Lender required mongale insurance as. a condl1ion of mlking the loan secured by this ~urity Inslrument, Borrower shall pay the premiwm required to maintain the insurance in circe! until such time as the requirement for the: insurance terminara in accordance with Borrower's and Lender's written agreemenl or applicable law. I, laopectIan. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice allhe lime afar prior to an inspection specifying reasonable cause for the inspeclion, 9. Coadeaaadoll. The proceeds of a.ny award or claim for dJLmaSe5, direct or consequential, in connection with any condemnation or other talcinl of any pan of the Property. or for conveyance in lieu of condemnation, are hereby assisned and shall be paid to Lender. In the event of. Iota! takins or the Property. the proceed. shall be applied to the sums secured by Ihis SecurilY InsttUmenl. whether or not then due, with any excess paid to Borrower, In the evenl of a partial taking or the Property. unless Borrower and Lender olhenriJe asree in wrilinS, lhe sums secured by this SecurilY Instrument .hall be reduced by the amount of the proceeds multiplied by tbe following fraction: (8) the total amount of the sums secured immediately before the likinS, divided by (h) the fair market value of the Property immediately berore the taking, Any balancc shall be paid to IIomrwer. If the Property is abandoned by Borrower. or if. after notice by Lender to Borrower that the condemnor offers to make an award or senJe a claim (or 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. 8t its opllon, either to restoration or repair of the Propeny or to the sums secured by this Security Instrument. whether or not then due. Unless Lender and Borrowcr otberwise agree in writing. any application of proceeds 10 principal shall nol extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change tbe amount ofsuch payments. 10. Bomlwer Not Releued; Forbearance Bf Lender Not. Walnr. Estension or the lime for payment or modification of amonizatiou of the sums secured by this Security Instrumenl granled by Lender to any successor in interest of Borrower shall nol 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 interesl or refuse to extend time for payment or otherwise modify amonization of the sums secured by this Secunty Instrummt by reason of any demand made by the original Borrowe:ror Bol't'OWer's successors in interest. Any forbearance by Lender In exercising any right or remedy shall not be a waiver of or preclude the exercise or any ri&hl or remedy, 11. Sucee80n ud AaIIpa BoutI; JoiDt ud S..eraI Uabillty; OHillDen. The covenants and asreements of this Security Instrument shall bind and benefit the successors and assigns of Lcnder and Borrower. subject to the provisions of paragraph 17. BoI'TOWCf'S covenanU and agreements sball be joint and scveral. Any Borrower who co-signs this Security Instrument but docs Dot eJ,ccule the Note: eal is co-signing this Security Instrument only 10 mongagc. grant and convey that Borrower's interest in the Propcny under the tcnns of this Security Instrumenl; (b) is not personally obligated to pay the sums IClCUred by this Security Instrument.; and (c) agrees that Lender and any other Borrower may agree to extend, modify. forbear or II1.8.U any accommodations with regard 10 the terms of this Security Instrument or the Note without that Borrower', consent. 11. 1.Gu CIaaraeL If the loan secured by tbis Security Instrument is subject to a law which sets maximum loan chqe5. and that law is linaUy intc:rpmed 50 that the interest or other loan charges collected or to be collected in connection with the loan exceed the penniUed limits. tben: ta) any such loan charge shall be reduced by the amount necessary to reduce the charge 10 the permilled limit; and (h) any .ums already collecled from Borrower which exceeded permitted limits wiU be refunded to Borrower. Lender may choose to make this refund by reducing Ihe principal owed under the Note or by makinsa direct payment to Borrower. If a rdund reduces principal. the reduction will be: treated as a partia1 prepayment withoUI any prepayment charge under the Note. 13. LeaIbJatloa AJreclial Leader'a RlPts. If enactment or espiration of applicable laws has lhe effect or rendcringany provision oflbe Note or this Security Instrument unenforceable according to ilsterms. Lender, al its option, may require immediate payment in full of aU sums secured by this Secunty Instrument and may invoke any remedies pencilled by parapaph 19. JrLender exercises this option. Lender shall take the steps specified in the second paragraph or paragraph 17, 14. Notic::a. 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. appbcable law requires use of another method. The nolice shall be directed to the Property Address or any other address Borrower dcsisnates by nolicc to Lender Any nolicc 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 LO Borrower or Lender when given as provided in this parapaph, IS. GonrmBILar, Sennbillt)'. This Security Instrumm. shall be governed by rederallaw and the law or 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 la..... such conftict shall not affect other provisions of this Security Instrument or the Note which can be given dl'ec1 witbout the confticting provision. To thlSl end the prOVision!> of thiS Security Instrument and the Note are (ccIared 10 be "",erable. 16. Borrower'I Copy. Borrower shall be given one conformed copy of the Note and of this SecurilY Instrument. 17. Tralllfer of the Property or a BeDefidallDterat iD Borrower. If aU or an)' pan of the Property or an)' interest in it is sold or U1lIl.d'erred (or if a beneficial interest in Borrower is sold or lransferred Bnd Borrower is not a natural penon) withow Lender's prior wrinen consent. Lender may, at its option. require immediate payment in rull of all sums secured by tbis Security ImtrumcnL However, this option shall not be exercised by Lender if excrclse is prohibited by federal..w IS oftbe date or this Security Instrument, 1f1.ender exercises this option. Lender shall give Borrower noUce of aeederauon. The notice shan provide a penod afoot Ie55lhan 30 days from the date the notice is ddiven:d or mailed within WhlCh Borrower must pay all ~ums secured by this Security IDStJUmcnt. If BolTQ1lW'er falls 10 pay these sums prior to the: expiration of this period, l..cnder may Invoke any remediES permitted by this Security Instrument without funher nouce or demand on Borrower II. Barnnrer-I RiPIIo ReiBtate. If Borrower meets. cenain condiuons. Borrower 'Shall have the nght 10 have enforcement oflhis Securily Inslrument discontinued It any lime prior to the earlier of: (8) S days (or such other period A!t applicable Ia.... may specify for rc1nStAtement) before sale of the Propeny pursuanl to any power or sale contaaned in thiS Security IDtitJl1II1CDt.; Dr (b) entry of. judgment enrorcing this Securiry Inslrumen1. Those conditions are that Borrower: (a) pays Lender aU sums which then would be due under this Security Instrument and Ihe Nole had no acceleration occurncl (b) cures any ddJ.ult of any other covenants or agreemenls; (c) pay!. aU expenses. tDcurred m enforclOg thiS Secunt)' Inllmmerll. mcluclini- but not limited to, reas.onable allomcr.;' fees; and Cd, takes such acllon I.!t l..cnder may n:aIOn&bly require '0 assun: that the lien of thiS Secunt)' lns.trumenl, Lender'!, nghlS In the Propeny and Bomlwer''S obhpllon to t-y the sum. ~ured by Ihls Secunl)' Intotrumcnl ",h~1I continue unchanged llpon rems\alement by Borrower. thiS Secunty lnitrumcnl and the obhpuon~ 1toC'Qlrc:d hereby "han remam fully ~ecllve as If no acceleration had Ol;Curnd Ho....~.lhlto nabt 10 mnstalcIhan not ~ppl)' m the CA!IC' of acceJeutlOn under paragraph!> 13m 17