87102623 - Laserfiche WebLink

Browse

s7- 1Aas:3 If LaadK- 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 inwrance terminates in accordance with Borrower's and Lender's written agreement or applicable law. 11. NspeeMisa. 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. CaWki saadon. The proceeds of any sword 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 slnB 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 Instrument!, whether or not then due, 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 the amount Of the proceeds 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 Pro Borrower . PertY immediately before the taking. Any balance shall be paid to If the Property is adandoned by Borrower, or if, after notice by Lender to Borrower 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 Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or Postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of such payments. IS- ON Ower Not Released; Forbearlswe By Letller Not a Raver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower j shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not err i required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify anKwtization of the sums secured by this Security 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 j preclude the exercise of any right or remedy. ! Ill. Soccessers said Assigns Bmuad; $010 and Several Liability: Co-signers. The covenants and agreements of t his Security Instrument 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 Borrower 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 terms 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 ma f forbear or make any accommodations with r Y agree to extend, modify, Borrower's consent. regard to the terms of this Security Instrument or the Note without that 12. Lama Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges. AM 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 sums 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 wihout any prepayment charge under the Note. 13. 1.eglsMdon AffeclMg Leader's Rights. If enactment or expiration of applicable laws has the effect of rendering any Provision of the Note or this Security Instrument unenforceable according to its terms. Lender, at its option, may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies permitted by paragraph 19. If Lender exercises this option. Lender shall take the steps specified in the second paragraph of paragraph 17. 11. Nedcea. Any notice to Borrower provided for in this Security instrument shall be given by delivering it or by nwiling it by first class mail unless applicable law requires use of another method. The notice shall 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 Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. Govesaldg Law; SeverabWty. 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 provisions or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall 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 Instrument and the Note are declared to be severable. K' Bepawwer's COPY. Borrower shall be given one colifornted Copy of the Note and of this Security Instrument. 17. Tre silos of the Prop" or a Bendiew interest in awyower. If all or any part of the Property or any interest in it is sold or lro tsferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Leader's prior written consent, Leader may, at its option, require immediate payment in full of all sums secured by alas Security Instrus enA. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. If Leader aacises this option. Lender sleall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which the Borrower must pay all sums secured by this Security instrtmaent. If Borrower fails to PAY these sums prior to the expiration of this period. Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 11. Bosrawae's Ilfg{ht to Admsnste. If Borrows meets certain conditions, Borrower shall have the right to have MfOrcenum of this Security Instrument discontinued at any time prior to the earlier of: (a) S days (or such other period as applic" saw may specify for redeasaatetsent) before sale of the Property pursuant to any power of sale contained in this SenaitY Inprument; or (b) entry of a judg icat enforcing this Security Instrument. Those conditions are that Borrower: (a) Pon Leoda AN suaq which then would be date under this Security Instrument and the Note had no acceleration occurred; (b) cures any 4duk of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, but hsaaed t°' reasonable atteuney's fees; and (d) takes such action as Lender may reasonably require to assure than the lien of this Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obblatrens secured hereby shut remain fully effective as if no acceleration had occurred_ However, this right to reinstate shall not apply at the case of Amlexation under paragraphs 13 or 17. f ___J