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Home My WebLink About0607 ~ ~ 1 ; l.endc~'s writtcn agreement or applicable Ipw. Borrowe~ shall pay the amou~t of all mortgage insurancc prcmiums in the ~ manne~ pravidcd under parag~aph 2 heroof. ~ Any amounts disburscd by 1_ende~ pursuant to ~his par~graph 7, with interest ihereon, shall become additional ~ i~Jebtednesc of Borrower secured by this Mongage. Unles~ Borrower and I.enJer agree to other terms of payment, such ~ amounts shall be payabk upon n~~ticc from I.cnder t~~ Bo~r~w~r requcs~ing payment thercof. and shall hear interest ftom the date of dicbursement at the rate payable irom time to timc on a?rtstanding principal udder the Note unless payment of ~ inte~st at such ~ate wauld be cont~ary to applicable law, in which event such amounts shall bea~ interest at the highest rate permissible under applicable law. Nothing contained in this paragraph 7 shall require I.ender to incur any eapense or take any action hereunder. 8. Inspectbn. I.ende~ may make or cause to be made rea~onable enlries u~+on and inspections of the Pmperty, provided ~ that I.ender shall give Borrower notice pri~r ~o any such inspection specifying rcasonabk cause therefor related to I.ender's interest in the Property. 9. Condemaatbn. The pnxeed~ ~~f :~ny aw•ard ar claim for damages, direct or consequential, in connection with any ~ condemnation or other taki~g of Ihe Property, or pan ~here~~f, or for conveyance in lieu of condemnation, are hereby assigned and shall bc paid to Lender. ; Tn the cvent of a total taking of thc Propcrty, thc pn•c~~cJs shall bc applicd to the sums securcd by this Mortgage. ~ with the excess, if any, paid to Borrov?cr. ln ~hc event oi a partial t~king of the Property, unless Borrower and I.ender ~ otherwice agree in writing. therc shall be applicd to the sumt ucurcd hy Ihis Mortgage such proportion of the proceeds as ic equal to that pr.~portian which thc amount of thc sumc ,ccurcd hy this Mortgage immediately priar to the date of ~ taking hearc to the fair market value af the Pro~:rt~~ immrdiately prior to the date of taking, with the halance of the pmceeds paid to Bormwer. if the Pmperty is abandoned by Borrow~er, or if. after n~~tice b~ Lender 1o Borcower that the condemnor of[ers to make ~ an aw:~rd or setNe a claim for damagcs, Barmwcr fail. t« resFx~nd k~ I.cnder within 30 days afte~ the date such notice is mailed. I_enJer is authorized to callect and apply the procecds, at l.ender's option. either to restoration or repair of the Propcrty or to the sums sccured hy this Mortgagc. Unless Lender and Borrower otherwise agree in w ritine, •rny ~uch application of proceedc ta principal shall not extend or post~+c~ne thc due date of thc monthly installmcnts rcfcrrcd to in paragraphs 1 and 2 hereof ar change the amount of such installments. 10. Bonovver Nat Rekased. Extension of the time for pa~•ment or modification of amortization of the sums secured by this Mortgage granted by i.ender to any succecsor in intere~t of Borrower ~hall not aperate ta release, in any manner. the liabi~i~y of ihe original Borrower and Barrower'c succcssors in interest. l_ender shall not be rcquired to commence proceedings against such successor or refuse to crte~d time for payme~t or othen+~ise modify amortiiation of the sums serured by this Mortgage by reason of am• demancl made by the oriQinal fiorrow•er and Borrower s successors in interest. 11. Forbearance by Ixnder Not a Wai~•er. Am f~~nc~arancc by I.ender in erercising any right or remedy hercunder, or atherw~ise afiorded by applicable law, shall not be a waivcr of or preclude 1he e!cercise of an~ st~ch right or remedy. The procurement of insurance or the pa~ment of taxes or other lieos or charges by I.ender shall nat be a waiver of Lender's right t.~ accelerate the maturity ot the indebtednect kcumd hy thic Mortgage. 12. Remedies Cnmulati~e. All remeclie~ pro~•ided in this 1Nortgage arc distinct anJ cumulative to any other right or remedy~ under this Mortgage or afiorded b~• la~c e~r ey«ity, and ma}~ he exercised concurrcnUy. independendy or succecsively. 13. Sncceswrs and Assi~ns Bound: ]oint and Se~er~l i.iabi4ty; Captions. Thc covenants and agreements herein comained shall bind, and the rights hercunder shall innre to, the rcspective successars and ascigns of I.ender and Borrower. subject to the provisions of paragraph 17 hercof. All covenants and agrcementc of Borrower shall he j~int and several. "ihe captions and headings of the paragraphc of Ihie Mortgage are for rnmenience only and are not ro bc used to interpret or define the provisions hereof. 14. Notice. Except for any notice rcquircd unJer applicable law~ to be given in another manner, (a) any notice to Borrower provided for in this Mortgaee shall he given hy mailing such notice by certified mail addressed to Borrower at the Properly Addrecs or at such other address as Bormw~er may designate by no~ice to I.ender as provided herein, and (b) any notire to Lender shall he given hy ccrtificd mail, rcturn reccipt requested. to i.ender s address statcd herein or to such other address as I.ender may designate h~• notice tn Borrower as provided herein. Any notice provided for in this Mortgage shall he deemed ro have bcen gi~cn to Rorrow•er or l.ender when givcn in the manner designated herein. I5. Uniform Mort~;aRe: Governin~ I.aw: Se~•erabilit~•. This form of morlgage combines uniform covenants for national use and non-uniform covenants with limited variations hy jaricdicti~n to constitute a uniform security instrument covering real propeny. This Mortgage shall be gavrrned h~• tFxx law of the juriuiiction in which the Property is located. In the I. eveM ~hat any provision or clause of this Mor?gage or the Note conflictc with applicahle law, such conflict shall not afi'ect 4 other procisions of this Morigage or the Note w•hich can M: gi~•en ef~ect without the conflicting pmvision, and to this ~ end thc provisions of the Mortgage and thc Note are dcclared to he se~erablc. 16. Borrowe~'s Copy. Borrower shall t?e furnished a conformed copy of the Note and of thic Mortgage at the time I. o( execution •~r af~er recordation hereof. i 17. Transfer of t6e Property; Acsumption. If all or any p~rt of the Praperty or an interc~t therein is sold or transierred ~ by Borrow~er without Lender's priur written rnnsent. excluding (al the crcation of a lien or encumbrance subordinate to ~ this Mortgage. tb) the creation of a purchase money security interest for household appliances. (c) a transfer by devise. descent or by operation of law upon thc dcath of a j~~im tenam or (d1 the grant of any Icaschold interest of threc years or iess i no; containing an option to purchase. I.ender may, at l.ender's option, declare all the sums secured by this Mortgage to be ~mmcdi•rtely due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lender and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person ~s satisfactory to IxnJer and that the interest payabfe on the sums secured by Ihis Martgage shall be at such rate as I.ender ~h:~ll request. If I_ender has waived the option to acceterate provided in ihis paragraph 17, and if Borrower's successor in ~ nterest has executed a written assumption agreement accepted in writing by [_encier, Lencier shall release Borrower from all ~ ~'i~ations under this Mortgage and the Note. ~ If I.ender exercises such option to accelerate. I.ender ~hall mail Borrow•er notice of acceleration in accordance with ~ ira~eraph 14 hereof. Such notice shall provide a peri~xl of not less than 30 days from the date the notice is mailed within ~ ni t, Bormwer may pay the sums declareJ due_ lf Borrower fails to pay such sums prior to the expiration of such period. i~r may, without further notice or demand an liorrower, invoke any remedies permitied by paragraph lA hereof. ~ hoN-UxtFOR~?t CoveN~rr~rs. Borrower and Lender further covenant and agree as follows: !8. Acceleratao; Remedies. Except as provided io paraRrapb 17 hereof. upoo Borror?er's breach of any rn~eaaat or - ao~eement of Borrower in W~s Mortg~e, iacludin~ t6e covenaMs to pay r?hee dne aay su~ secured by tbis Mortaase, Leader prior 1o accekratioo s6aU mail noHce to Borrower a4 providcd in paragraph ld 6ereof apecifyin~: (1) ibe breac6; (2) tl~e adion ~ required to cure snc6 bnach; (3) a date, aot le~ t6an 30 days fmm t~e date t6e ootiee is mailed to Borrower, by w6k6 sacb breach ma~t be cnred; and (4) that fatlure to-cure such breac6 on or 6efore t6e date speci6ed is the notEce ~oay resdt ia ~ accekratioo of tbe sa~ secared by th~ Mortg~e, Eoreclosurr by jadlcial pmceedin~ aod sale of t6e PmpertY• 'I~e ~otiee : shall fnrtber inform Borrower of tl~e rigM to rcinstste dter sccekration aod tbe ~6t to a~ert is tbe foreclosere proc~ ~ the oon-e:istence of a defank or aoy Mber defense of Borrower to accekrstbn and forecbsare• if the bresc~ is eot csred oa or before t6e date speci6ed 'm t6e notice. Lender a1 Leadels option may declare sH of the soms sec~red by t6is Mo~a`e to be ~ immediatdy due aad paya6ie wit~oat furt6er demand and ~oay foreclose t6is Morf~s6e b~ joaicjal proe~. I.eade~ s6aY be entiUed to colkct is s~ proeeediu~ all eipeases o[ foreclosare, includiaa, b~t eot ifmited t0. rea~oasble attor~e~'s fees. K ~1ld COSfS OE dOCII01l11~ !r~lOCtf ~C1S SO1~ ltv! R~IOid. 19. Borrowsr's Ri6bt to Iteiaaste. Notwithstanding Lender s acceleration of the sums secured by this Mortgage. ~ Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time ~ ~ 60GK ~~S PAGE 6O~ Yg d ~ . . . _ Et u _...s ~ > > ~ . - ,~5.:`._". _ ~ _ c - _