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Home My WebLink About0924 t ~ ~ • i ag~eement or applicable taw. Aorrow~e~ ahaQ pay the amount o( all mor~qaqc in~u~ance prcmiura~ in the manoer provided ~ unde~ paragraph Y hrrcot. ; ~1ny aawunu disbursed bY l.ender pursuant to this puagraph 7. with inte~nt thr~eo~~, +hall become additiona! in• deb~edness o[ Borrowe~ securetil by this Atortgagt. Unleu Bor~crwer and t.ender a~ee to o~her terms ot paytnent, wch ~ amouuts sfiaQ be payable upon uaict I~om l.tnder to Borrower reque~ting paycne~~t the~eol, aud shall bear intercu tran ~ thc datc o[ disbu~sement at the rate }•agablc trom sime co timc on outaianding princip~l under the :~ote unlcss payunent ~ ot intercst at ~uch rate wciuld be cuntnry ta applicable law, in which event such amounts shall bcu interest at che highat ; ratr pernnis~ible undt~ applitable law, hothing conuined in thi+ patagnph 7 shall ~a~uire I.e~ider to incur any expense or ~ takc any action hercunder. ' S. Inq~cctiou. l.ender may make or caux to bc made r~asor~able entries upan and iuspeciior~• o( ~he Propenr, pro- ~ ~•ided that Lender shall gire Bormwe~ uotice p~ior to anY wch inspection ~peci(yinR reasonable caux ~herrtor retated to = l.ende~'s interest in the Property. ~ 9. Copdemaatjon. The proctecls o[ any award or daim (or damage~, direct or consequential. in connatian with any ! condemnation or other takinq o( the Propertr, or patt thertot, or tor conveya~ce in lieu of condemnation, are heteby u- # signccl and shall be paid to Lender. . ~ ln the event o( a totat takinq o[ tht Property, the proceccis shatl be applied to the aums xcured by this Atottgage. with the excess, if any. paid to Bortower. ln the e~•ent oE a partial taking ot the Pro~xrty, unless Bo~rower and Lender ~ otherwise aRree in writing. there shall be applied to tht sums secured by this ~lortgage wch proportion ot the praeeds a: i: equal to that proportio~~ which tht amoant of the aums xcured by this \tortgaqt immediately prior to the date o[ taking bean to the tair muket value ot the Property i~cmediately p~ior to thc date o[ ukinq, with the balance ot tht pro- ceeds paid co Bomorva. - j lf the Property is abandoned br Borrower, or if, atter notice by Le~det to Borrower that tht condemnor offen to ~ make an award or settle a daim (oc damages, Bonawer tails to respond to I.endct within SO days after the date such notice # is mailed. Lender is authorited to collect and applr the procecds, at Lender's option, either to restoration or repair o[ the 9 Property or to the sums secured by chis ~tortgage. ~ Unlcss l.endeT and Borrower othcrwix agree in writing, any such application of proceeds to principal shall not extend ~ or postpone the due date of the monthly i~stallments ~e[ecred to in pangraphs 1 and 2 hertot or change the amonnt of wch installments. 10. Bomower Not Reka~ed. Extension ot the time (or payment or modi(ic~tion o[ amortitation o[ the sums secured b~ thi~ ~tortgage granted by Lender to any successor in interest ot Bonower shall not operate to release, in any mannet. the liability oI [I1t Oi1R10~{ BOTiOwcT and $onower's successors in interat. l.ender shaU not be required to commence ~ proc~cdiuRs a~inst wch successor or retuse to extend time [or pannene or othecwise mcxiity amartiration o[ ehe sums se- ; cured by this JtortqaRe by rcason ot ang demand made br the oriRinal Bormwer and Borrower s succ~ssors in interes~ ' 11. Forbearance br Lender Na a Waiver. Any forbearance by I.ender in exercisinq any right or rrmrdy herennder. ~ or otherwise at(orded by applicable lav?, shall not be a waiver o( or pralude the exercise of any such riqht or remedr. The ~ ptocuresnent oE insutanct or thc pa)ment of taxes or other licns or cturges by Lend~r sha11 not bc a wai~•er of L.ender's riRhe !o accelerate the ma~uritY o[ the indebtedness secured t,y ehis \lortgage. ~ i2. Remedies GLmulatire. AU remedies pro~idcd in this ~tortRaRe art distinct and cumulati~e to auy otfier riqht or ~ remed)• under this ~fortRaqe or a[forded by law or equiey, and may be exercixd concurrenth~. ind~pendendy or wcctssi~•el}. ~ 13. Succenors and A~i~u Bound: Joint and Se~eral Liabilitr; C'aption~. "1'he co~•enanu and aRreemenu herein ~ contained shali bind, and the rights herew~der shall inure to, the respecti~•e succesx?rs and assigns of I.ender and Borrower, ~ su6ject to the pro~isious ot pangraph 17 hereot. All co~enants and aRretments of Borrowtr sh~ll be joint and several. The ~ captions and hndings ot the paragraphs o( this ?lfortgaqe at for con~•enience onl}' and are not to t~e uxd to interpret or define the provisions hcreof. ~ ~ l~. Notice. Except (or any notice requirtct undtr applicable law to be Riven in another manner, (a) any notite to ~ BorroNCr pro~•ided Eor in this ~fortRap,r sha11 be qi~'en by mailinR such notice by certitied mail addressed to Borrower at ~ ~ the Propecty Address or at ~uch other address as Borrowtr may dtsignate by notite to l.ender as pro~•ided hcrcin, and (b) k any notice to Lender shall be gi~•en by certi(ied mail, return receipt requested, to Lcnder's address stateci herein or to such ~ ~ other address u Lender may desiqnate by notice to $orrowrer as provided henin. any notice pro~•ided (or in this ~tongage j shali be deemed to have been qia~tn to Borrower or Lender Nhen qi~•en in the mauner desiqnated herein. ~ ~ 1'~. Uniform Mortgaae; Gorerning I.aw; Serenbilitr. This (orm o( mortgaqt combincs uniform co~•enauts tor na- ~ ~ tional use arxl non-unifotm ca~'enants with limited ~•ariaeions bp jurisdiction to constimte a uniform ae~urit~• instrument ~ 'i co~-erinq real pruperry. This \iortRaqt shall bt qo~•erned br the taw of the juriscliction in Nhich the Propert~~ is located. ~ ~ In tht e~•ent that any provision or dausr ot ehis ~tortgaRe or the tiote conflicts with applicabl~ law. such cnn(lict shall not ~ atfect other provisions oi this ~1ortRage or the \ot~ which can be Ri~~en e(tect without the con(lictinQ provision, and to ~ this end the provisions oi the ~(ortRage and che \ote a~e declared to be se~erable. ~ ~ 16. Borroxer'a Gopy. Bonowet shall t?e turnished ~ conformeel cop~ ot the \ote and of this \fortqaqe at the time ; of execution or a[ter recordation hereof. I 17. Tnn~fer of the Properq; Aasumption. If a11 or any part of the Property or an int~rest thcrein is sold or trans- ~ ferred by &~rroMer without I.ender's prior written consent, txcludinR (a) the creation of a lieo or encumbrance subordinate ! to this ~lortgage. (b) the creation of a purchase moner security intere+t for household appliances. (c) a transter by decist. - ; descent or bp operation of 1aw upon thc death at a joint tenant o~ (d) thc Rrant of an~ l~asehold interest of three years or ; )ess not c~ntaininq an option to purcha~e. l.ender may. at Lendei s option, d~due all the sums secured b} this ~tortRage to ~ ~ bt immtdiaeely du~ and pa~~able. Lender shall ha~•e Naivtd such option to accdtrate i(, prior to the sale or trans(er, Lender I and the person to whom the Property i. to tx +o1d or transferred r~ach aRreement in writinq that the credit oE such person i is satisfactory to I.ender and [hat the interest pa~able on che sums secured by ehis ~tortqaRe shal! I~c ac such rate as I.ender shall request. If I.ender has waired the option to accelerate provided in this paraRraph 17, and if Borrower's successor in ~ ' interest has execuied a written assumption a~{reement accepted in writinq by Lender, Lender shall release Borrower (rom ' all obligations under this Atortgage and the :~ote. , If Lender exercises such option to acceleratr. Lender shall mail Borrower no~ice o[ accele~acion in accordanct with ' paraRraph 14 hertof. Such notict shall pro~•ide a~xriod of not less than 30 days trom the date tht notice is mailed Mithin , which Borrower may pay the sums declared clue. It Borrower fails to pa}' wch sums prior to the expiration of such period. I.ender may, without turther notice or demand on Borrower. im~oke any tetntdies permittecl by paraJ{taph 18 hereol. _ Nor-LT~~FORW GO~'E1~AhTS. Borcower and Lender inrther covenant and agrce as follows: 18. Acceleratioo; Remediea Except as provided in puagnp6 1~ 6eteof, upon Borrowe~'s breach oE an' covenant or _ agnement oI Borro~?er ia this Nortgage, indudinq the co~enana to par when due any sums secureel b~r thu :1~ortgage. I.ender prior to accelrntion ~hall mait notice to Borro~er as provided in pangrapl~ 14 hertot specifring: (1) [6e brtach; ~ thr xtion rcquired to curt wch breacb: (3) a date. aot le~s than 30 days (ram c6e date the notice is mailed to BorTO++er. br which auch b~each mwt be cured; and that (ailuse to cure wch bnacb on or before the datr specifitcl in the notice mar . rcwlt in acceleraeion of tbe wms secured br thu Nortgage, foreclowue bY judicial proceediag and ~ale o[ the Properq. Tbe notice ahall furt6tr ia(orm Borro~rer of the rig6t to reinsate after xcekneion and the right to asnt in the foredowre ~ praeeding t6e non~ezistence of a ddaule or an~ other dNease oI Borrower to accelrneion and (oreclosurc. 1( the brtuh is not cured on or be[afe t6e date speci[ied in the naice, Leader ~t Lender's option mar decfare all of ~h~ sums srcured bJr this ; Mortgage to be immediately due and ~yabk without furtber demand and maY foreclose this Mort~age b~ judicial ptoceed- s itta. Lrnder sh~ll be mtitled to collett in wch proceeding al! ~penfes of [oreclosute. including, but not limited to, reasun• : abk attorne~r's ises„ and costs of documentary evidmce, abnsacts and titk re~ts. ~ J ~ ~ e~ ~S~ ~Z2 ~ ~ ~ ~ - -