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Home My WebLink About0643 Le~der's written agrcement or applicable law•. Borrower shall pay the amount of atl mortgage insurance prcmium: in the manne~ provided under pa~agraph 2 hercof. Any amounta disbursed by I.ender pursuant to thq paragraph 7, with intemst thercoo, shall become additional indebtedneu of Bo~rower securcd by ~his Mortgage. Unless Borrowe~ and Lende~ agrce to ather terms of payment. such diii~?tiiit5 Si~a33 ~~ayBGie ~iFn~i i~l~it~~ ti(iiil l.Cl~l12i 1V SufIUW~i i2iiliiiiiii~ ~dylii2iil iii2ii~ii, a~i~ S1iai= ~idi Iii?Gi~.SI fii~~ ti`~ date ot disbursement at the rate payable from time to time on outatandina principal under the Note unless paytneat of intersst at :uch rate would be contrary to applicable law. in which event such amounts shall bear interat at the highest rate ; permiaibk under applicable law. Nothing co~tained in this paragraph 7 shall require Lender to incur any expense or tske 4 any action hereuader. • S. Ia~ectba. Lender may make or rause to be made reaso~able entriec upon and inspections of the Propetty, provided ~ that i.ender shall give Borrowe~ notice prior to any such inspection specifying reasonable cause thercfor related to Lender s ~ interest in the Property. # 9. Co~deeeatbn. The proceeds of an~ award or claim for damaees. dircct or consequential, in connection with anp condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemaation. arc hereby assigned and shall be paid to Lender. ~ ~ ln Ihe evtnt of a total taking of the Property, the proceeds shall bc applied to the sums xcurod by this Mortgage. ~ with the excess, if any, paid to Bo~rower. In the event of a partial taking of the Property, unless Bornower and Lender otherwise agret in writing. Iherc shall be applied to the sums secureci by ~hic Mortgage such proportion of the proceeds ~ as is equal to that proportion which the amount of the sums secured by this Mortgagc immediately prior to the date of taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the pmceeds paid to Borrower. ' If the Property is abandoned by Borrower, or if, after notice by i.ender to Borrower that the condeannor often to malce an award or xttle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such ootice is mailed, I.onder is authorized to collect snd apply the proce~ds, at Lender's option, either to restoration or repair of the Propeny or to the sums securcd by this Mortgage. Unless Lender and Borrower othervvise agree in v?~riting, any such application of proceeds to principal shalt not extrnd or ~postpone the due date of the monthl~• installmentz rekrrcd to io paragraphs 1 and 2 hetzof or change the amount of such installments. 10. Borrower Not RekasM. Extension of the time for payment or modiflcation of amortization of ihe sums securcd by this Mortgage granted by I_ender to any successor in interest. of Bonower shall not operate to t+elease, in any maoner. the liability of the original Borrower and B~rrower's si~cceswrc in interest. Lender shall not be requited to commenoe proceedings against soch successor or refuce to extend time for payment or otherwise modify amortization of the sums secured by this Mortgage by reason of any demand made by the original Borrower and Borrower s successors in interest. 11. Forbearanrc by I.ender Not a Wairer. Any forfiearance by I.ender in exercising any right or rcmedy hereunder, or othenviu aBordecl by applicable law, shall not be a waiver ot or preclude the exercise of any such right or remody. ~ The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's , ~ight to accelerate the maturity of the indebtedness secured hy this Mortgage. 12. Remedks CnmulaH~e. All remedies provideci in this Mortgage are distinct and cumuiative to any other right or remedy under this Mor~gage or afforded by law or equity, and ma}~ be exercised concurrently, independently or successively. 13. Snccessors and Assigas Bound; Joint and Several T.iabiUly; Csptions. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to. the rcspective successors and assigns of Lender and Borrnwer, subject to the provisions of paragraph 17 hereof. All covenants and agrerments of Borrower shall he joi~t and several. The captions and headings of the paragraphs of this Mortgage are for ra~nvenience only and are not to be ussd to interpret or define the provisions hereof. ~ 14. Notice. Except for any notice reqiiired under applicable law to be given in another manner, (a) any notice to ' Borrower provided for in this Mortgage shall he given by mailing such notice by certifird mail addressed to Bonower at ` the Property Address or at such other address as Bormwer may designate by notice to T_ender as provided herein, and (b) any notice to Lender shall be given b}~ certified mail, retum receipt requested. to I.e~der's address stated hercin or to such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this Mortgage shal) be deemed to ha~~e been given to Borraw~er or l.ender when given in the manner designated hercin. Ii 1S. Uniform Mortga~e; Governin~ Iaw: Severability. This form of mortgage combines uniform covenants for national i use and non-uniform covenants with limited variations b}~ jurisciiction to constitote a uniform security instrument covering real property. This Mortgage shali be governed h}• the lav?• of the jurisdiction in which the Property is Iocated. In the j event that any provision or cla~se of thic I~iortgage ~r the Note conflicts w ith applicable law. such conflict shall not affect ~ other provisions of this Mongage or the Note which can be given effect without the conflicting provision, and to ihis ! end the provisions of the Mortgage and the '~tote are declared to be severable. ` t 16. ec?rrower's Cop,••. Be~rewe~ sha!! be furseeshe~+ a conforme~ copy ~f thP Note ~nd of this Mosigage at the time of execution or after recordation hereof. ~ 17. Tn~fer of tbe Propertv: Acsumption. if all or any part of the Pro~+erty or an interest therein is sold or transferred ~ by Borrower without Lender's prior written eonsent. excluding (a? the crcation of a lien or encumbrance subordinate to 5 this Mortgage. (b) the creation of a purchase money securit}~ interes~ for household appliances, (c) a transfer by devise, ~ descent or by operation of law upon the death of a joint tenant or ldl the grant of anp leasehold interest of three years or less' not containing an option to purchase, I_ender may, at l_ender'c option. declare all the sums secured by this Mortgage to be ~ immediately due and payable. [.ender shall have w•aived 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 ~ is satisfactory to Lender and that the intere~t payable on the sums secured by this Mortgage shall be at such rate as Lender ~ shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interest has executed a written assump~ion agreement accepted in writing by L.ender, Lender shall release Borrower from all = obligations under this Mortgage and the Note. ~ ~ If Lender exercises such option to accelerate. [.ender shall mail Borrower notice of acceleration in accordance with ~ paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within ~ which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period, ~ Lender may, without further notice or demand on Borruwer, invoke an~ remedies permitted by paragraph 18 heceof. ~ NoN-UNiFORi?t CovEN~rrrs. Borrower and Lender further covenant and agree as follows: ~ 18. Accekntion; Remedics. E:cept as provided in para~rap6 17 hersof. upoo Dorrower's breac6 of ~nny corenaot or ~ agreement ot Borrower In t6k MoHgage, incladi~g tbe coveesata to pay when doe any snms secored by thk Mortts`e, I,eoder ' prior fo sccekraHon s6a11 mail notice fo Borrower as prorided in paraErapb 14 6ereo[ specifyios: (1) t6e b~eacb; (2) t6e action ~ reqnired to core soc6 breac6; (3) a date, oot less tban 30 days from the date t6e notke b maikd to Eorrower, b~ whic6 ~acb s breacb mmt be cared; and (4) tbst failnre to cun sacb bresch oa or betoro tbe date speciffied is the oMlce n~ asdt fn ~ ~ sccekrstbn of tbe soms secured by t6is Mortgage. foreclosure by jodkW ~roceedin~ aad sak ot tbe Property. 'Ibe BoHce ~ r shall furthcr lnform Borro~ver of the ri6W to rcinstate after ~ccekntbo and tbe riZ6t to anert ie tbe toreclosnre pruceedi¦~ We non-esisteoce ot a detaok or any ather defense of dorrower to acceknHos and foreclosnre. If t6e breach is not cmed oa ~ ~ or beEore tbe date speci6ed le t~e ootice, Lender d LeodePs optbo may decfars a9 ~ the mms xc~red by t~ Mort~e bo be ` ~ i~nnkdhtely due aad psyabk vritboot fnrtber demsad and may forecbse ti~k Mort~e by judkW proteedi~. Leoder s6an ~ be eadtkd to eoUect ia soc6 proceedlus aD espeasa of foreclosnre~ inclodi~, 6ot oot limited to, reawoabk attorney's fas, ~ ~d COffi O~ dOCOIDlD~ li~dlOCl~ ~dfaCl~ SOd Rp011i. 19. Eorrower's Ri66t to Refmdate. Notwithstanding Lender s acceleration of the sums secured by this Mortgage. ~ Borrower shall have the right to hav~ any proccedings hegun by Lender to enforce this Morigage discontinued at any time ~ E ~ ~ s~ ~ ~ ~~3 fn~ ~ ~ . , ~ ~ . _ : ~ - ~ _ _~e~~~