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Home My WebLink About0207 . ~ ,f~~ 3'~. ..r- C, . . ,':,~~y• ~ _ ,Y ~ :p4: ; . _ ' 1 • 'a' _ . , . t . • ~ ! Lender's writ~ea a~~+ecment or applicablc law. Bor~ower :hail pay the amounl of sll mortgage insu~ance prcmiums in the ~ manner p~ovided uoder pang~sph 2 hercof. Any amounts disbursrd b~~ t.endc~ pun~~aM to this patagraph 7. with interest thereon, shall become additional indebtedntss of Borrower securcd by this Mortgage. Unless Borrowe~ and LenJe~ agt~ee to other terms of payment. such ~ am~unts shall be pa~•abk upan ~c+ticc f~om l.ende~ tn.Bor~owe~ rcquesting payment ~hercof. and shall bear interest lrom thc date of disbursement *t the rate payabk from ttme to tima on outstanding principal ~nder the Note unkss p~yment oi ~ i~terrst at auch rate would bo contrary ~o ;pplicable law, in which event wch amounts shall bear interest at tFie highest rate permissibk under spplicabk law. Nothing conta~ned in this paragraph 7 shall requin Lender to incur any expenso or take any action hereunder. 8. isspectioa. i.ende~ may maka o~ cause to be made reasonabk entries upon and inspections of the PropeNy. provided that Lende~ shall gi~~e Honoati~ notice prior to any s~kh inspectio~ speci[yina rcasanebk cause therefor related to Lende~'s interest in the Propetty. 9. Coadcmaatbn. Thc proceeds ot any award or claim for damaga. direct or consequential. in rnnnection with any condemnstion or other taking of the Property. or paM thereof. or for co~veya~ee in lieu of condrmnation. are hercby pssigned a~d shall be paid to Lender. . In the even~ oE a total taking af the Propehy, the proceeds shall be applied to the sums secured by this Mortgage. ~ with the eccess. if any, paid to Borrovrer. In the cvent of a paMial taking of the Property. unkss Borrower and Lender otherwise agrce in v?~riting, therc shal) be applied to the sums secured by this Mortgage such proportion af the proceeds ~ as is equal to that proportion w•hich the amount of the sums secured by this Mortgage immediately prior to thc date of tak~ng bears to the fai~ market value of the Pnopeity immediately prior to thc date of taking, with the balance of the proceeds paid to Borrower. ~ ~ If the Property is aba~doned by Borrower. or if, after notice by Lender to BoROwer that the condemnor offers to make an award or settle a claim fo~ damaga, Borrower.fails to rapond to Lender within 30 days after the date such notice h ' maikd, Lender is authorized to rnllect and apply the proceeds. at Lender's option. eithe~ to nstoration oc npair of the PropeNy or to the sums securcd by this MoNgage. _ _ Unlas Lender and Borrow~er otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due date of the monthly installmenis referred to in puagraphs 1 and 2 hereof or change the amount of such i~tailments. - ]0. Bornower A•ot Released. Exteosion of the time for payment or modi8catioo of aryoNization of the sums secured by ihis Mortgage granted by Lender to any successor in intercst of Borrovr~er shal) not operate to rekase. in any maoner. - the liability of ihe o~ginal Borrov?~er and Borrower's successors in interest. Lender shall not be rcquircd to commtnoe proceedings against such successor or nfuse to extend time fo~ payment or otherwise modify amortiution of- the sums secured by this Mc+rtgage by r~eason of any demand made by the or.ginal Borrower and Borrower's successon i~ interest. l I. Forbarance by i.Mde~ 1~'ot s Waiver. Any forhearance by Lender in exercising any right or remedy hereuoder. or othe~rise atiorded by applicabk law, shall not be a waiver of or precludz the exercisc of any such right or remedy. The procurement of insuranoe or the payment of taxes or other liens o~ charges by Lender shall not be a waiver of Lender's riaht to accekrate the maturity of the indebtedness secur+ed hy this Mortgage. 12. Remedies CumulaN~e. "Ail remedia provided in this Mortgage are d'atinct and cumulative to any other right or remedy under this Mortgage or afforded by law or equity, and may be exercixd concurr~ently, independently or succesirvdy. 13. Suecesson and Assigos Boead; Jdnt aad Several i~ty; Gptbns. The covenants aod agreements herei~ contain~d shall bind, and the rights het+eunde~ shall inurc to, the respeMive suecessors and usigra of Leoder and Botrower. subjeci to the pro~~isiorts of paragraph 1'f hereof. All covenants and agrceme~ts of Borrawer sfiall be joint and sevenl. The captions and headings of the paragraphs of this Mongage an for convenience only and an not to be vsed to interpret o~ define the provisions heoeof. • ~ 14. l\ot'~oe. Except for any notice rcquired under applicable law to be given in another manner. (a) any notice to Borrower provided for in tha ~iortgage shall be given by mailing such notice by-ceriificd mail 'addressed to Borrower at the Property Addrcss or at such o~her address ~s Borrower may designate by notioe to Lender as provided herein. apd (b) any ~otice to Lender ahafl be given by certified mail, rctum receipt re~uated,-ro t.endtr's address stated herein or to such other addKSS az Lender ma}~ designate by notice to Borrower u provided herein. Any notioe pmvided for in ihis Morigage shall be deemed to ha~~e been given to Borrower or Lender vehen given in the manner d~signated herein. 1S. Uniform 1ltortgage; Go~ernia~ Law; Severability. This form of mortgage combines uoiform covenants for national use and non-uniform covenants ~~ith limitcd variations by jurisdiction to constitute a uniform security instrument covering nal p~openy. This Mortgage shall be governed by the law of the jurisdiction in whkh the Property is located. in the ' event that any prrnision or clause of this Mortgage or the I~ote conflicts with applicable law, suth conflict shall not af[oct ~ other pro~ isions of [his Mortgage or thc Note which can be given effect without the conflicting pmvision. and to this end the provisio~a of the Mortgage and the Note arc declared to be severabk. ~ 16. Borrowe~s Copy. Borrower shall be furniched a conformed copy of the Note and of this Mortgage at the time of execution or after r~ecordation- hercof. 17. Traosfer of the Propert~: Assumption. If all or any part of the Property or an interest therein is sold or transferred by Borrower without Lender's prior writtee consent. excludin~ (a) the creation of a lien or encumbrance subordinate to this Mortgage. (b) the creation of a purchase money security intercst for household spptiances, (c) a transfer by devise. d~sctnt or by operation.of law upon the death of a joint tenant or the grant of a~y kasehold interat of three years or less not containing an option to purchase. Lender may, at Lender s optior~. declare ail the sums socured by this Mortgage to be immediately due and payable. Lender shall have waived such option to aocekrate if. prior to ihe sak or transfer. Lender and ihe person to whom the Property is ta be sold or transkrred reach agreement in writing that the credit of such person is satisfactory to Lender and that the interest payabk on the sums secured by this Mortgage shalt be at such rate as Lender shall ~quat. Tf tender has waired the option to accelerate provided in this paragraph 17, and if Borrower's.successor in - interat hu ezecuted a w~ritten assumption agreement accepted in writing by Lender. Lender shall rekase Borrower from all obligations under this Mortgage and the Note. . ~ If Lender exercises such option to accelarate. Lender shall mail Bo"rrower notice of accekration in accordance with paragraph 14 herec?f. Such notice shall provide a period of not less than 30 days from ihe date fhe notice is mailed within which Borrovrer ma}• pay the sums declared due. If $orrow~er faits-to pay stkh sums prior to the expiration of such period. Lender may. K-ithout further nosice or demand on Borrower. invoke any rcmedies permitted by paragraph f 8 hereof. Nox-UtviFOart Co~~~,~xTS. Borrower and I.ender further covenant and agrce as foUows: l8. Accelerataa; Remedia. Except as provided in paragraph 17 hereof, apon Borrower's brrseh of any eorenant or sgreement of Borrosrer In thts !ltortgage, tndnding the covensents to psy rrhen dne aoy wms f6~red by this Mort~sge, Lender prior to accekraUon shaU mail notice to Bomower as providcd in p~rs~raph 14 bereof specifyi»g: (1) the b~racb; (2) the ~a r requind to cure such bre~ch; (3) a date, not less tban 30 days from the date tbe notice is majled to Sorroweir, by which such breach must be cured: and (4) th~t taiiure to care snch brcach on or 6efore the d~e specified ia the aotiee maY resolt ie accekration oE Ibe sums secund by thfs ~tortgage. for~eclosure by judicial proceedin~ snd sale of the Prope~ry. 17~e notke shall fnirther inform Borrovrer of the risht to reinstale after accekral~on and the righ! fo a~sed in the foroctosuro proceeding Ihe non~existence of a de[ault or an~ olher detertse of Borrower to sccekr~tion aad forecbwre. IE the brescb is aot cnred on or before the dale speciRed in the notice, Le~er at Lende~'s option msy declare al{ of ihe wms ~ecured by this Mort~e to be immediately due and ps~~~able Nithout fuNhe~ demand snd may foreclose this Mortgage by indkisl proceediag. I.eader sh~ll - fx eatttkd to collect in web proceeding all expenses of toreciowre, includiag. but aot limited to, reawnable attornty's ftes. and costs of documentar?• eridence, a6stracts and ~itle rcports. l9. Borrower's Right to Relastate. Notwithstaoding Lender'c acceleration of the sums secu~+ed by this Mortgage. Borrowet shall have the right to ha~~e any proceedings hegun by Lender to enf~+rce this Mortgage discontin~ed•at any time . 6o~K 2~2 P~ 246 _ _ . - ~