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Home My WebLink About0549 l.emfcr s writtcn :igrecmcnt or applicabk law. Borrower shall pay the unount of all mongagc insurence ptemium: in the manner p~ovided undtr parag~aph 2 heroot. ~ Any amaunts disburud by t.enckr pursuant ta this paragraph 7, wi~h interest thercon, shal) become additiona) indebtedness of Norrawer ucurcd by this Mor~gage. Unlecs Barrower ~nd [.enJor agree to other tertns of payment. such amounts shall be payable upoo n~~icc f~am l.ende~ to Borrowcr requccting paymrot Ihereof, and shall t~car interest fmm the datc of dicburscmcnt at ~he rate payahle from time to time on outstanding principal under thc Notc unless payment ot interest at such rate would be co~trary to applicable law, in which event tuch amounts shall hear interest at 1he highest rate permissible under applicable law. Nolhing ci~ntained in this paragraph 7 sball require I.ender lo incur any expense or take any action hcrcunder. ~ 8. laspectbo. i.e~der may make or cau.e to be made reau~nable entries u{~c~n and inspeciio~s of the Property. provitkd that l.ender shall give Barrawer notice prior to anq surAins~xction specif~ing reasonable cause therefor relatai to Lender's interest i~ the Property. - 9. Condemnstbn. The pr.xeed~ of any award or claim for damages, direcl or consequential, in connoction with any condemnalion or other taking of the Prapcrty, or part thercaf, ~~r far cc~nveyance in lieu of candemnation, are hereby assigned and shall bc paid to l.cndc~. , in Ihc event of a total taking of thc Pmpcny, thc pnkccds shall be applied to Ihe xums secured by this Mortgage. with the excecs, if any, paid to Ba~mwcr. In thc cvcnt of a partial taking of the Property, unless BoROwer and Lender otherv?•isc agrce in writi~g, therc shall be applicd to thc ~ums ~.-curcd hy this Mortgage such propoNian of the praxed.s as is equal to that pmportion which thc amount of the sumc sccurcd by lhis Mortgage immediately prior to thc date of taking bears to ~hc fair market valuc of thc Pm~x:rty imm^diatcly prior to thc datc of taking, with thc balance af the praceeds paid to Borrow~cr. If thc Propcrty ic abandoned by Borro~~•cr. ~~r if. aftcr notice hy Lcndcr to Bormwer that the condem~or offers to malte an award or settle a claim for dama~es. BorroK•er fail. t~~ res{x~nd to 1 ender within 30 days after the date such notice is mailed, Lende~ is aiithorized to collect and apply the prcxti~eds, at T_ender s option, either to restoration or repair of the Propert~~ or ta the sums sttured hy this 1liortgage. Unlest I.ender and BorroWCr othenvice agrce in writing, any such application of proceeds to princip3l shall not extend or po~tpone the due dale of the monthly installmcntc refern-d to in paragraphs 1 and 2 hereof or change the amaunt of such installments. 10. Borrov~er Not Rekased. E~tension of the time f~~r payment or mc+dification of amortization of the sums secured by this Mortgage granteci by Lender to am• ~uccecwr in intere~t of &?rrower shall not operate to release, in any manner, the liahility of the original Borr~wer a~d Rorrower'~ successnrc in interest. I.ender chall not he required to commence proceedings agaimt such successor or ref.~ee to extend time for payment or othervvise mc~dify amortization of the sums secured hy this Morlgage by rca~n of an}• demand made by the orieinal Borrower and Borrowers succes~ors in interest. 11. Forlxarance by I.ender Not a Wairer. Am• R~rhearance b~• l.cndcr in excrcising any right or remedy hcreunder, or othenvise afiorded hy applirablc law, shall ~ot Fx; a waiver oi or preclude the exercise of any cuch right or temedy. The procurement of insurance or the payment of tares ~r other liens ar chargec by i.ender shall not be a waiver of Lender's right t~? accelerate the maturity of the indehtedne~s ~ccured hy ihis Mortgage. 12. Remedies Cumulati~e. All remedies pro~•ided in this Mortgage arc distinct and cumulative to any ather right or remedy ~mder this Mortgage or affordcd hy law i.r equity, anJ may he e~erciseJ concurrcntly. independenUy or successively_ 13. Successors and Assig~ Bound; loint and Sereral i.iability; Captions. The covenants and agreemeots hercin contained shall hind, and the riRhts hercunder shall inure to. the respective succec~rs and assigns of Lender and Bornower, subject tu the provisions of paragraph 17 hcrcof. All covcnants and agrcemcnts of Borrowcr shall bc joint and several. ~ The captions and heading~ of the paraeraphc of this Mortgage .are for convenience only and are not tci he used to interprct or define the provisions hercoL 14. Notice. Except for any notice required under applicable law to be given in another manner. (a) any notice to Be~rr~~wer provided for in this Mortgage shal) he given hy mailing such notice by certified mail addrezsed to Borrower at the Properiy Address or at such other address as Bnrrc.wer may decignate by notice to T.ender as provided herein, and (b) any notice to I_enckr sh~ll he given bp certified mail. retum receipt requested. to l.enders address stated herein or to such other addre~ as t.ender may designate by notice t~ Borrower as provided hercin. Any notice provided for in this Martgagc shall be deemcd to have becn givcn to Rorrow•cr or I_cnder when given in ihe manner designated herein: 15. LJniform MortRage: Governin~ [aw; Severability. This form of morigage combines uniform covenants for national use and non-uniform covenants with limited variations hy jurisdicticx~ to constitute a uniform security instrument rnvering real prc~perry. "IT~is Mortgage shall be governed hy Ihe law• of the jurisdiction in which the Property is located. In the event that any provision or clause of this Mort~age ~r the Note conflicts with applicable.law, such conflict shail nol affect i other provitiions of this Mortgage or ihe Notr which can be given etTect withaut the conflicting provision, and to this t end the pcovisions of the Mortgage and the Note :~rc Jecla~ed to he severable. ~ 16. Borrower's Copy. Borrow~r .hall t?e furnished a conforn?ed copy of thc Note and of this Mortgage at the time of execution or af~cr recordation hercof. ~ 17. Tramfer of t6e PsopeNV: Assumption. If all or an}• part of the Pmperty or an interest therein is sold or transfened f by Borrower without Lender s prior wriuen consent, excluding (al Ihe crcation of a lien or encumbrance subordinate to ~ thi~ Mortgage. (b) the creation of a purchase money security interest for household appliances, (c) a transfer hy devise, ~ descent or by opcration of law upon the dcath ~f a joint tenant or (d1 the grant of any ltaschold interest of three ycars or kss r~~' ~~~taining an option to purchase, Lender may, at Lender's option, declare a4 the sums securcd by this Mortgage to be ,+nmeJiately due and payable. ~_ender shall have waived sach option to accelerate if, prior to the sale or transfer, I.ender +~id the person to whom the Property is to be xold or transferrcd reach agreement in writing that the credit of such person ; satiefactory• to I.enJer and th3t the interest payable on the sums secured by this Mortgage shall be at such rate as [.ender h=!! reyuest. if 1_ender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in ~ rest Fa~ executed a written assumption agreement accepted in writing by I.enckr, I~ncler shall release Borrower from all .~t~ons under this Mortgage and the Note- If t.ende~ exercises such option to accelerate. t_ender shall mail Borrower notice of acceleration in accordance with ~racraph 14 hereof. Such notice thall provide a periocl of not less than 30 days from the date lhe notice is mailed within ` Borrou~er may pay the sums declared due. If Borrower fails ro pay such sams prior to the expiration of such period, ~ _r may, w•ithout further noticc or dcmand on 13orrowcr. invokc any remedies permitted by paragraph 18 hereof. ~ tioN-t1!vtEOR~?~t Covew~rrrs. Borcawer and (_ender further crnenant and agrce as follows: 18. Acceleratioe; Remedies. E:cept as Provided in pa~rap6 17 hereof, npon Bormwer's breach of aoy covenaat or agreemeot of Borrower io Wis Mortgnge, incladir~ t6e covenants to pay oheo doe say soms secared by thk Mo~e, i.ender ~ prior to accekration sball mai! notice to Eorrower zs provided in paragrspb 14 bereof specif~: (1) tbe b~eac6; (2) the acfioo ~ :equired to core secb bresc6; (3) s date, aot less Wan 30 days from.tbe date t~e notice is ma~d to Borruwer, by w6ic6 sac~ ~ breach mnst 6e cored; and (4) t6at failure to cure soch breach on or 6eEore the date spec~ed ~ t6e ootice mar resdt ia accekratioo of t6e soms secured by tbi4 Mortgage, forecbsnre by jodki~l proceediu~ ~d sale of tbe Propc~. 'I~e notke ~ shall further infono Eorrower of the rigiN to reinstate after accekntioa awd tbt ri~6t to aesert ie t6e foredos~re proc~ the non-existence of s defadt or any other defense of Borroner to accekratioo aad foreclosore. If !6e bresc~ is sot ctred a~ ~ or before the date speci~at ie t~e notice~ Leader at Leoder'a optiou may declare a9 of tre sads secared by tbi~ Mort;a6e b be ~ im~nediatdy due a~ psyabk wit6out fnrther demand and may forecbse t6ie Mort~a~e bp jedicial Proc~• I.e~der sraY ~ be entitled to coDect i~ soc~ proctcding sO e:pe~a of forecbsere, includio~, bot eot timited to, rearo~a6le attor~e~'s tea, ~ and costs ot docomeotar~ e~ideace, sbstracti aad titk reporls. ~ l9. Bornower's Ri~6t to Reisfste. Notwithstanding Lender s acceleration of the sums secured by this Mortgage. ~ Borrower shall have the right to have any proccedings begun by Lender to enfotce ihis Mortgage discontinuod at my time ~ ~ ~ F:~~ 248 PA~E 548 ~ S - ~ ~ v~ - ~t Y - _ _ _ _ _