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Home My WebLink About0577 ~ . i I endrr's w~itten agrcement or applicabk law. Bor~ower shall Q~y the amou~t of all mortgage insurance prcmiums in the ' mannc~ pn?vided undet parag~sph 2 hercoL Any amounts dishu~scd by 1_cnJer punuant tu this parrg~aph 7, vvith inter+cst• thereon, shall becc~me additional in~iabicdnrsc .~t &~rrowcr securcd by ~his Mqrlg•rge. Unle.~ Borrowc~ and Lrnde~ agree to olhe~ terms ot payment, such amcu~nts shal) be payahk upon notirc from Lrndcr tu Horr~~wr~ reyuccting payment ~hetea(, a~d shall bear interat from Me datc ot disbii~xment at thc rate ~+ayahk (rom timc to time c.~ aitstanding principa) unde,~ the Note ueless psyment ot ; intercst at such rate would !+e contrary te? applicable law, in which event xuch amouots shall bear intercst at the hishest rate ~ pc~miuibk undcr applicabk law. Nothing rootained in thit paragraph 7 shal) requit~e l.ender to incu~ any expense or take ~ any aclion hcreunder. : S. laspectioa. I.enck~ ma~• makr o~ rau~c ta I+c maJc rc•r~nabk cntrics upan and inspectiont of the Prc~peNy. provided t thal I.enJer chall give Borrower nc»ice pri~~r to any surh insprc~i~~n specifying rcase~nabk cause therctor related to i~der's ~ inte~rct in the Property. ~ ~ 9. Co~de~a~atbn. The p~occedc of any award or rlaim (or tlamaRes. dircel or conaquential, in can~ectan with any ~ condemnation or other taking of the Property, or part thercof, ~~r for c~•nvcyan~-e in litu of ccu~demnation, are hercby assianed # anJ shall he paid to I.cndcr. ln the cvent of a total taling of tho Pro{x,rty. thc pr~xccdc shall he applied to ~he ~ums sccurcd by this Ma~t6sge- with the e~cess, if any, paid to Aorrowe~. ln ~he event ~•f a partial taling o( the Praperty, unkcc Barmwer and I.e~der oiherw•ik agrre in writinR. lhere sh•rll he applied t~~ the .ums ~ccund h}~ Ihic Morlgagt cuch proporlion o~ the prac~d.t ~ as ic eyual to that proportion which the am~~unt ~f thr c?~mc K;ured h~~ thic Mortgage immediately prior ta ~he date of i laking hearc to thc fai~ market valuc of Ihc Pro~x r~y immcdia~cly prior to the date of laking, with the t~alance of the proceeds r paid to Borrower. ` 1f the Property is abandonecl by Borrower. ~~r if. rft~ r notice by 1 ender to Borrower fhat tht condelnno~ oBers (0 In~IcC ~ an award or setNe a claim for damage+. Rorrc~we~ fail. t~~ r~y~xaxi tc? I ender within 30 day~s atter the dale such nc?tice is ~ mailcd, l.enckr is authori~rd to collecl and apph~ ihr pn.cc~cds. at I.ender~ option, either to'restoration or repair of the ~ ~ Propcrty or to thc sums cccurctii hy this Mn~~g:~gc. ' ~ Unlesc 1_ender and Bormwer Mhenvise ag~ee in writing, am• sikh applirati~n ~f prcxeedc to principal shall nM eitend # or pcxtp~~ne thc due date ot thc moMhly ins~allmrMs retcrrrd to in p:?ragraphs 1 and 2 hereof or change the amcwnt of such installments. 10. Eormwrer Nnt Released. t:xten~ion of thc ~imc G.r payment or modificati~n af amortizaticm of the sumt secured by this Mongagc granted by l.en~kr to am• .~~rcc~..?r in intrrc.t ~,f Borrov?•er ~hall nM operate to trlcase. in a~y ma~ner. the liability ~~f the original Borcaw•er and B~•rmwer'~ tucres~orc in interest. l.ender shall not he rcquired to commence proceedings agai~st cuch successe~r or refu.~ to rc~rn.l time for payment or othenvi~e mc~di(y amortization af the sums seruretl by thic Mortgage hy rcau~n of am~ demand made bi- fhc ori¢inal tiorrower ancl Rorrowers cuccecsorc in interest. 11. Forbearance by [.ender 1\ot a Waiver. Any f~nc~arancr hy Lcnder in cxcrci~ing aoy right or rcmcdy hercqnder, or nthenvix afiordttii hy applicahle law, shall not t+c a waivcr of ~~r preclude the exercise of any such right or rcmedy. ~ The procurement of insurance or the p3yment of taticy ~~r other lieos or charges hy I.ender shall not he a w~aiver of I_ender's right aecclerate the maturity of Ihe indebtrdne.c .erured hy ~hic Martgage. ~ 12. Remedies Comnlati~e. All rcmeJiec pm~ ~ded in thic Mortgage are diztinct and cumulative to any other right or ~ remcJy under this Mortgagc.or afiordcJ hy law• or cyuity. and ma~• he c~crciscd concurrently. independently or successivcly. 13. Succescws and A~as Bound; ]oint and Se~e~ I.iab~'Kty; Captions. 'T~e covenants and agreements herein j containcd shall hind, and thc riRhts hcrcundcr sh~ll inurc to. the respective succeccorc and assigns of l.cnckr and Borrower. subject to the provisions of paragraph 17 hercoL AU ravenants and aRrcementc of Bc~rrower shall be joint and uveral. The captions and headings of thc paragraphc c~f thia !~tortsagc are for rnnvcnicnce i~nly anJ aro not to be used to interpret or define the provisionc hereof. 14. Nofke. Except far any ~tice reyuirrd under applic•rble law to be given in ano~her manner. (a) any notice to ~ &~rr~w•er pravided (or in this Mortgage shall be given hy mailin~ ~uch notice by certiBed mail yddresSed ta Borrower at the Property Addrcss or a~ such uther aJdrc~c as &?rmwer may de~ignate by no~ice to 1_enckr as provided herein, and ~ (h) any notice to Irnder shall he given b~• certificJ mail. retum receipt reyuected. to I.ender s adJress slafed he~in or to cuch other addrcss as I_ender may decignate by natice t~• Bormwer as provideJ herein. Any nwice pmvided for in this ~ Mortgagc shall be deemed to have been Riv~n ~o Hc?rn+wer or I.rnder when givcn in Ihc manner designated hercin. 1S. Unifo~ Mort~~e; Governi~ I.aw; Se~erabitit~•. Thit f~~rm o( mortgage combines uniform covenants for national n use and n.~n-unif~irm covenants with limiled variationc hy jorieJictie~n to rnnstitute a uniform security instrument covering ~ rcal propetty. This Mo~tgage shall be govcrned M• the law nf the juriaficlion in which the Property ic located. In the ~ event ~ha~ any provision or clause of thic Mortgage or the Note conflicts with applicable law. wch conflict shall nM alfect I' other pnn•isions of this Morlgage or Ihe Notr which ran he given efTect without the conflicting pmvisian, and ta this ~ end the provisions of the Mortgage a~d thc 'votc arc dcclared to he ~cvcrablc. 16. dorrowt~'s Copy. Borrower chall 1?e furmchrd a cuntormed copy of the Note and of ihis Mortgage at the time I of executicxi or after rccordation hereof. ~ Traasfer of tbe Propetl~: A~umption. If a4 c.r an}• part of the Pn~perty or an interest therein ic sold or tranzferrtd ~ ~ hy Borrower without Ixnder's prior wriucn consent, excluding lal the crcation of a lien or encombrance sutx~rdinate to ( th~c Mortgage, Ib) the crution of a purchau: moncy ~uritr• interest f~r household appliances. (c? a transfer M~ devise. ~ de~ccnt nr by operation of law upon the ckath of a j~~~m tcnant or (J~ the grant of any leasehold intercst of three years or kss ~ n.~t ~untaining an oplicm to purchax. I.ender may, a1 1_cnd~r~ opuon, declare aU ~he sums secured by this Mortgage to be 3 immed~ately due and payable. Lender shall have w••ri~cd su~h i.ption to accelerate if, prior to the tale or Iransfer, [.et?der $ ~ .~nd the person to whom thc Pmperty is to be sold ~~r trans(ern:d rrach agreement in writing that the creJit of such perscx~ - ~ saticfactory to I.ender and ~hat the interc~t pa~•able c.n the xumc ~ecured hy thic Mortgage shall be at such rate as I_ender ; ••h.+ll reyuest. If I.ender hu waived the aption to acceleratc proviJeel in this paragraph 17. and if Borrower's successot in ~ :~~crest hac execuled a written assumpuon agreement aceepled in writing by I.enJer, l.enckr shall releace Borrower from all ,'~~a~~ons unJer ~his Mortgage and the Note. € If I.ender exercises such option to xcelera~e. 1 ender ,hall mail Borrow•er notice of acceleration in accordance with ` irat;raph 14 hereo(. Such notict shall.providc •r peri~xt of nut Iess than 30 dayc fmm the date the natice ic mailed within ~ i~ Borrow•er may pay tht sums declared due. If BorroNer fails to pay such ci~ms prior to the eapiration of such period. ~ ,.r may, v?ith~iut furiher notice or Jemand on t3orrowcr, ~m•okc any rcrmdies permitted hy paragraph IR i~ercof. ~ ~ ' !voN-Ur~~FORrN CoveY~NTS. Borrower and 1_encfer (unher covenant and agrce as follows: 3 ; 18. Acceknitba: Remcdks. Facep as prorided in p~~~apb I~ hereof. ~os Sorrowels bresc~ of sy coreeaN or ~ ' agreemcot ot eorrower iw t6i~ Morq~aRe. inclo~n~ tbe coreuads Io pay whe~ d~e t~y s~ws secarei by this Mort~e+ I.e~icr ; ~ prior Io scceleratb~ sbail e~ajl ootke ro Eorrower as providcd in para~raph 14 rereot s~ecityieR: (1) tbe bresc`: (2) tbe actio~ ; ~ rcquired 1o corc wcr breac6: a dde. ~ot ks tbsn 3A dsys fro~ N~e dste t6e wotice is auikd to Eorrower. bY widcr src6 ~ bresch a~wt be e~red; asd (1) t6st tailnre lo cnre such bresc6 os or before the date s*eciied ~ tbe ~ofiee wsy nsalt ~ # xcekrstiow ot tre sers secered by t~is Mort~e. forectosnro by jodkial ~oct~ed~a~ ad sde ot tbe Property. '!tie ~otke t sl~all turtber fafonw eorrower ot t6e ri~M to «iastste s(ter ~ccekrstioo awd tbe riaht la a~ut b t`e toreclea~re Noeeedi~ - ~ t6e eoo-e:ieteace of a defanM or ~y otl~ detensc o( aoROwer to sccekntioe swd foreebwre. B!ie brssc\ is ~of caeea o~ ' or beto?e We d~ste specified ie tre eoKce. Lewdcr at I.ender's optiow ~ dcehre aN d tbe w~s seevsi Iry tl~is Mort~e to be ~ ~ immcdhtdy d~e aoi ~yabk wkbo~l tert6er demand aad may totrclote thit Mor~ate bl' j~kW Pe~ocadi~[. [~ie~ s~al1 = be eatitled to eoYect iw wcr ~roce~dia~ all upeates ot torecbwre. iacl~. brt ~ot i~kai t0. ~~~7'~ iea, ' ~ s~d cosb ot doc~eadrf e~idcaee. abtrsc4 sad tltk eeporb. 19. Bonowa's Rl~it to ReL~e. Notwithstanding Lencier s acceleration of the sums socured by this Mortgage. ~ Borrower shall have the rigbt to have any proceedings 1~egun by Lender to eoforve this Mortgaae discontinued at any time ` dao~ 267 ~ 5?6 ~ ~ _ r.. . , . - ~ ~ » :