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Home My WebLink About0974 Le~der's w~ritten agrceme~t or appiicable law. Bo~rower shall pay the amount of ail mortgage i~surance premiums i~ the manner provided under paragraph 2 hereof. Any amounts disbursed by Lender pursuant to thia paragraph 7, with intercst thereon, shall become additional inJebt~dness of Borrower securcd by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such ~mnt~nte e1~~11 1~ ~I~Iw ~.i=. y. :,n~~.v ~~n^Z ! i~...L~ Rvrrnv~:! r`~~ue~~web ~yy~nwnl ftirn!n/~ srV~ eF1l~~ ~flr 1~~lr~ fMf1~ ~~IE date of disburstment at the rate payable from time to time on outstanding principal under the Note unless psyment ot iatercst at such rste would be controry to applicable law, in which event such amounts shall bear interest at the highest rate ; permissibk under applicable law. Nothing cantai~ed in this paragraph 7 shall require [.ender to incur any expense or tdce ~ any action hercunder. • 8. laspectio~. Lender may make or cause to be made reasonable entries uF+on and inspections of the Property, provided ; inai Lende~ snaii give sorrawer noiice prior ca any sucn inspeciiun spe~iiying re:~sui~;~3Ee cause t~r~fc~r reDatc~i t~ L~~xr's interest irt the Property. ~ 9. Co~dew~stbn. 'tl~e proceeds of any award or claim for damages, direct or consequential, i~ connection with any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnatio~, are hereby assignod ~ ~ and shall be paid to Le~der. In the event of a total taking of the Property, the proceeds shall he applied ta the sums securod by this Mortgage. with the excess, if any, paid to Borrower. i~ the event of a partial taking of the Property, unless Bomower and Lender i otherwix agree in writing. therc shall be applied to the sums secured h~• thic Mortgage such proportion of the proceeds ` as is equa) to that proportion which the amount of the sums secured by thic Mongage immediately prior to the date of taking bcars to the fair market vatue of the Property immediately prior to the date of taking. with the balance of the proceeds paid to Borrower. if thc Property is abandoned by Borrower, or if, after notice by i.ender to Borrower thxt the condetnnor oRen to make an award or settle a claim for damages. Borrower fails to respond to Lender within 30 days after the date such notice is mailed. Lender is authorized to collect and apply the proceeds, at i_ender s option, either to restoration or repair of the Propeny or to the sums secured hy this Mortgage. • Unless Lender and BorroNer otherwise agree in writing. any such application of proceeds to principal shall not extend or postpone the due daie of thc monthl}• installments referred to in paragraphs 1 and 2 hertof or change the amount of such installments. 10. Borrower Not Rekased. Extension of the time for payment or moditication of amortization of the sums secured by this Mortgage granted by I_ender to any succes.wr in interest of Borroa•er shall not operate to release, in any manner. the liability of the original Borrow•er and Borrowc~ s successors in int.:rat. 1_e.r.der shall not be required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the aums securcd by this MoAgage b~• reason of any demand made b~• Ihe original Borrower and Bortower s successors in interest. 1!. Forbearaace by Lender Not a Wai~er. Any forhearance by I_ender in exercising any right or remedy hercunder, or otherwise afforded by applicable law, shalF nat he a waiver of or preclude the exercise of any such right or remady. The procurement of insurance or the payment of taxes ar othe~ iiens or charges by I.ender shall not be a waiver of Lende~'s right to accelerate the maturity of the indet+tedness secured h~• this Mongage. 12. Remedies Cumulative. All remedies provided in this Mortga~te are distioct and cumulative to any other right or rcmedy under this Mortgage or afforded by law or equity. and may he exercis~:d co~currently, independendy or successively. 13. Soccessors and Assi~as Bound; Joiat and Seversil i.iability; Captions. The covenants and agreements herein contained shall bind, and the riRhts hereunder shall inure to. the respective successon and assigns of Lender and Borr~wet, subject to the provisionc af paragraph 17 hereof. All covenants and agreements of Borrower shal) be joint and sevenl. The captions and headings of the paragraphc of this 1~lortgage are for cc.nvenience only and are not to be used to interpret or define the provisions hereof. 14. Notice. Except for any notice required uoder applicable law~ to be given in another manner, (a) any notice to Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at the Property Addresc or at such other addres~ as Borrnwer may designat~ b~~ notice to 1.ender as provided hercin, and (b) any notice to Lender shall be given by certified mail, retum receipt requected, to I.ender s address stated herein or to such other address as Lender ma}• designate by notice to Borrower as pro~ided herein. Any notice provided for in this Mongage shal) be deemed to have been given to Borrower or Lender when given in the manner designaied herein. 15. Uniform Mortga~e; Gorerni~ Law: Se~•erob~'lit~. This form of mortgage combines uniform covenants for national use and non-uniform covenants with limited variations b~ j:irisdiction to constiti~te a uniform security instrument covering real property. This Mortgage shall be governed h~• the law~ of the jurisdiction in which the Property is located. In tf~e event that any provision or clauce of this Mortga¢e c~r the Note rnnflicts w ith applicable law, such conflict shal) not affect j other provisions of this Mortgage or the Notc ~hi~h can be given effect without the conflicting provision. and to this ~ end the provisions of the Morigage and the '~iote are declared to be severabtc. ~ I6. domnwer's Cop~. Borrow-er .hall be furnished a conformed copy of the Note and of this Mortgage at the time 's of e~ecution or after recordation hereof_ ! 17. Transfer of tbe Propertt; Assumption. If all or am~ part of the Propert~ or an interest therein is sold or transferred ~ by Borrower without Lender's prior written consent, excluding (al the creation of a lien or encumbrance subordinate to ~ this Mortgage. (bl the creation of a purchase money securin~ interest for household appliances. (c) a transfer by devise, descent or by operation of law• upon the death of a joint tenant or (d? the g~ant of an~ leasehald interest of three years or less ~ not containing an option to purchase. Lender may, at l.ender'. option, declare all the sums secured by this Mortgage to be ~ immediately due and payable. Lender shall ha~~e N•aived such option to accelerate if. prior to the sale or transfer. Lender ~ and the person M whom the Property is to be sold or transferred reach agreement in w•riting that the credit of such person ~ is satisfactory to I_ender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender shall request. If I.ender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in ~ interest has ezecuted a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all obligations under this Mortgage and the Note. ~ ff Lender exercises such option ro accelerate, l.ender shall mail Borrower~ notice of acceleration in accordance with ~ paragraph 14 hereof. Such notice shall provide a pericxl of not less than 30 days from the date the notice is mailed within Y ~ which Borrower may~ pay the sums declared due. I( Borrower fails to pay such sums prior to the expiration of such period. ~ t_ender may. without further notice or demand on &irrow•er, invoke am• remedies permitted by paragraph IR hereof. ~ Nox-Ut~~FORr~t Covex~NTS. Borrower and Lender further covenant and agree as follows: ~ 18. Accekntion; Remedies. Facept as provided in paragmP6 17 hereof, upon Borrower's breach of any co~eoant or s agreement ot aorrower ia this Mort~a~e, inclndina thc covenants to pay when d~e any snms secured by t6~s Mort`a6e, I.eader prior to seceleratjoe s6aU mail ootke to Borrower as pmvided in pars6raph 14 hereof spccifyiu=: (1) tbe breac6; (2) tbe actba ~ reqaired to core soc6 breac6; (3) a date, oot less than 30 days from the date t6e notke is mailed to Borrower, by whic6 sac6 breacb mast be cared; aod (4) that failure to cure suc6 breach on or befors tbe date speci6ed in tbe notice may radt ia ~ aceekratioa of tbe som4 secared by t6ts Mortsa6e, forecbsure by jadicial proceedloa aod sak of t6e Property. 1be aotke ' shalt fnrt~er iefwm Eorrowe~ of the ~ig6t to reinstate after accekrstioa aad the ris6t lo ~sert in the foreclosure pruceedi~ ~ tre one.exiRte~e of s defsa~t or aar otlxr ~efrau of 1lorso~er !o sccclccr~tloa zud t~eeio~re. U ti~e bres~c~ is not e~red oe t or before the date specified in t6e notke, Leader at Leader's optioa may declare ap of tfie son~s aecared by thk Mort~a~e to be ~ immediatdy doe and payabk wit6oot furtber demaod and may forecloee thb Mortsa6e by judkial proceeding. Leoder s6aY be eatitled to coUed io snc6 proceedin6 all expcnses of forecbsure, inclndi~. bot aM limlted to, reasoosble sttorae~'s fas, a~d costs of docomeetary e~ideoce, abstrscts and tiHe repor4. ~ 19. dornower's Ri~bt to Reiastate. Notwithstanding Lender's acceltration 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 ~ ~ ~ 253 FA~ 9~3 ~ ~ ~r ~ _ ~ ~ ~ _ . _ ~