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Home My WebLink About0602 6 ~ i l.ender i wrilten agree~nent or applicab(e taw. Borrower shall pay the amount of ail mortggge insurance premiums in the mann~r providcJ uoder pa~agraph 2 hereof. Any 3mounts disbursed by l_endcr purcuant to this parag~aph 7, with interest thcreon, shall become additional i~Jebtedness of Bo~mwe~ secured by this Mongagc. Unle~s Borrower anJ l.ender agrce ta other tetms of payment, such ~ amounts shall he payablc u~n ~olice f~om [.cnder to &~rrowrr rcyucsiing paymeM thereof, and shalt bear i~te~est from the datc of disbursement at tha iatc payahle from time to time e~n oi~tstanding principa) under the Note unkss paymeet ot { interest At such rate would be contrary to applicable law, in which event such amounts shall txar interest at the highest rate permissible under applicable law. Nothing cootained in this parag~aph 9 shall require I.ender to incut any eapense or take ` any action hcrcunder. - j 8. Inspectioa, i_ender may m~ke or cause to be made reaconable entriec u~n and inspections of Ihe Property, provided ~ that l.endtr shafl ivc Borrowcr nolicc nor to an s S p' y such inspection specifying reasonable cause theretor related to Lender's ~ intcrest in thc Property. 9. CotWemnatb~. The prc~ceedc of a~}~ a~vard or ctaim for damaees, direct ar conxequential, in connection with aey condemnation or other taking of the Amperty, or part i~ercof. or for conv~yance in lieu of rnndcmnation, are hereby assigned and shall be paid to i.ender. ~ in tF?r event of a tzstal taking of thc Pm~xrty, thc prckceds ~hall he applied to the sums secured by this Mortgage, with the crress, if any, paid to Borrowcr. In thc c~•cnt of a partial taking of thc Property, unless Borrower and Lender ~ otherwice agree in writeng, therr shall he applied to the .umc cecumd by Ihic Martgage such proportion of the proceeds i as is equal to that pro~rtion w~hich thc amount o( ~hc sum~ urured h}• thic Mongage immediately prior to the date of ; t:~king t~ars to the fsir market ~alue of thc ProFx~t~~ immcdiatcly prior ~o the Jatc of taking, with thc balance of the proceeds ~ paid to Horrower. - If the Property is abandoned by Borrou~cr, nr if. afler noticc hy I.ender to Born~wer lhat the condtmnor otfen to make an award or seqle a claim for damaees. Borrower faik t~. respond ti. l.ender w~ithin 30 days a(tet the date such notict is mailed, t_ender is authorixed to collect and appl~• ~he proceeds, at l.ender'c option. either to restoration or mpair of the Property or to the sums ~ccured hy this l~fortgagc. ~ Unlesc I_ender ~nd Bormwer otheru•i~c agrec in ritinc~. am~ such applicatic?n of proceeds to principal shall not extend or po~tpone the due date of the monthlp installmcnts rcferrcd to in paragraphs 1 and 2 hereof or change the amouot of such installments. 10. Bonower Not Relea9ed. ~:xtcnsion of th~ time far paymcnt a~ modifiration of amorlization of the sumc secured by this Mortgage granted by Lender to am~ ~iKCe«ur in intcrcct of Borrower thall not operate to release, in any manner, the liabifity of the original Borrow•er and Ba~rak~rr'. succecs~rs in interest_ l.ender shall not he required to commence proceedings against such successor or refu~e ti~ ertend time for payment or otherwite modify amortization af ihe sums ~ secured hy thie Mortgage by reau~n of any dcman~! made by 1he nrieinal Bormw~er and Borrow•er's ~ucceccors in ioterest. 11. Forbearance by I.ender Not a Wai~•er. :1nc f~rFx:aranrc h~~ l.rnder in crercising an~~ right or remedy hereunder; or ~ othenvise afTorded h}• apFlicahle law, shalt nc?t he ;i waiver of or preclude the exercise of an~~ such right or remedy. ' The procurement of insurance or the payment of tarr~ ~~r other liens or charges hy I.ender shall nat be a a•aiver of [_ender's ~ right t~ accelcratc ihc maturety of thc indchtrdnres krurc~cl hy thic blort~agc. 12. Remedies Cumulative. All remedies pro~~ided in thie riartgage arc distinct and cumulative to any rnher right or remedy under this Mortgage or afTorded h~~ law• ~~r eyuity, and may he exercised concurrcnNy, independendy or successivcly. 13. Snecessors and Assi~ns Bouad: Joinl and Se~erai i.iability; Captlo~. The covenartts and agreemenls herein contained shall bind, and thc rights hereunder shall inure to. the respective succeesors and a~signc of I_ender and Borrowe~. subject to the provisions of paragraph 17 hercof. :~II co~~enants anJ agreements of Borrower shall be joint and ceveral. _ ~ The capiions ~nd headings of the paragraph~ ~f thic Mortgage are for rnmcnience only and are not to be uscd to interprct or define the provisions herrnf. ~ 14. Volice. Except for any notire reyu6red under applicable law• to be given in another manner. (a) any notice to k Borrow•er provided for in this Morigage shall he given h)• mailing cuch notice by certified mail addressed to Borrow~er at the ProExrty Address or at such other addrec: as Bormwer m~}• de~ignate by notice to T.cnder as pr~vided herein, and (bl an}• notice to Lender shali he given b}• certificd m:~il, retum receipt requested, ro I ender s address stated herein or to such other address as Lender may designate b~• notice to Bo~mw~cr as provided herein. Any notice providecl for in this Mortgage shall be deemcd to ha~~e been gi~~cn to Rorro~~~er or 1_cnder w~hen given in the maoner designated herein. IS. UniEorm MortRage; Govern~n~! Iaw•; Se~•eraMlit~•. Thiti form of mortgage combines oniform covenants for natiorta! use and n~•n-uniform co~~cnants w~ith limite.f ~~ariatii~nc hy jarisdiction to consNtute a uniform security instrument rnvering real propert~~. This Mortgage shall be govcrned h~• the IaH• ~,f the jurisJiction in which the Property is located. In the event that any provision or clauee of thic Martgaee c•r the N~.te conflicts with applicable law. such conflict shall not affect ~~ther provisions of this Mortgage or the N~tr ~~hich can be given eii'ect withoirt the canflicting provision, and to this end thr pro~•isions of the.Morigagc and the '.tii~tc arr ~Icclarcd tn bc ceverable. 16. Borroher's Copy. Borrow•er ~hall br furnichcd a conf~rmed rnpy of the Note and of this Mortgage at the time ~~f execution or after recordafion he~eof. 17. Transfer of fhe Propertr: Assumption. lf all ~~r am• part of thc Property or an interest therein ic sold or transferrcd by Borrowcr without Lender's prior written content. excluding /al the crcation of a lien or encumbrance suborJinate to this Mortgage. (b1 !he creation of a purchase money tecurity interest for household appliances. (cl a transfer by devise, deticent or by operation of law upon the death af a joint tenant or (dl the grant of any Icasehold interest of three years or less nut rontaining an option to purchasc, i.ender m•ry, at l.ender's option, declarc all thc sums seciered by this Mortgage to be ~mmeJiately due and pa~able. I_ender shall have w•aived tuch vption to accelerate if. prior to the sale or transfer. LenJer and the person to whom ihe Property ia ~o be sold or transferred rcach agreement in writing that the credit of such person ~s satisfactory to I.ender and that the interes~ payable on !he sumt secured by this Mortgage shall be at such rate as Lender ~h;~ll request. (f Lender has waived the option to accelerate provided 'en this paragraph 17, and if Borrower's successor in n:crest hac etecuted a written assumption agreement accepted in wri~ing by Lender, Lender shall release Borrower from all ;'ibations under this Mongage and the Note. If [_ender exercises such option to accelerate. [.ender shall mait Bormwer notice of acceieration in accordance with .?ragraph f4 hereof. Such natice shall prov+de a pericxi of not less than 3b days from the date the notice is maited within ii h Bormwer may pay the sums declared due. If Borrower fails ta pay such sums prior to the expiration of such period, . icr may, withaut further noticc or dcmand an lic~rmw•er, invoke any remedies permitted by paragraph 1R hereof. Nox-UN~FORM Coverr~Hrs. Borrower and l_ender further covenant and agree as follows: t8. Accekratioo; Remedks. E:cep as prorided ia psr~rapl~ 17 hereof. apon Borrower's breach of ady corenaiat or agrcement of 8orrower jn this MortgaRe. inclndi~ tbe coveasnts to pay when doe any sums secnred by t6is Mort~a~e, Leoder prior lo accekntion s6ali maN notke to Borrower a5 provided in para6raph 14 hereof specif~: (1) t6e 6reseb; (2) t6e aefioa required to cnrr sucb brcach; (3) a date. not lesc tban 30 days from the date t6e ~rotice ts maikd to Bormwer, by whk6 sac6 breach must be cnred; aad (4) t6st hilure to cure snch breach oa or before tht date speci6ed ie t~e notke may resdt is accekratioo of t6e snaas secured by t6ts Mortsage, foreclowre by judicial proceedin~ and sale of t6e Property. 'Ibe ootict shall further iaEorm Borrower of t6e right to rriastate after sccekration aad t~e right to assert ie tbe foreelowrs prnceedi~ th~ non-esisteace of a defanlt or any other defe~e of Borrower to accckratioa and forecbwrr. It tt~e breacb is oot cvsd o~ ar before the dste speci6ed in the aotice, Lender at Lende~'s option may declare aD of tbe sums aecared by t~s Mo~a~e b be immediatdy due and payabk without fnrther demaad s~nd may forecbse tl~ Mort~a6e b~ judicial proceedio~. i,eader s6aR be eatitled to coDect in soc6 procaediag a9 ezpeoses of foreclosurr, utcladin~, bwt eot limited to, reasorasble attor~e~'s fees, and cusls oE docnmeatary erideace, sbstracts aad titk riports, 19. Borrower's Ris6t to Reiustate. Nwwithstanding Lender s acceleration of the sums stcured by this Mortgage. Borrower shall have the rigf~t to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time - BOGK PAGE 6O1 ~ Y - ``~'~'"~:'~~'+x.... . . . . . . . " ' n...,_~^~