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Home My WebLink About0478 1 ru.lcr'. ~.~ittrn :~brc~ntrn~ ur :~pph..~hlr I:?~. N.~rru~~ri shal! p.~~ thr :~~n.~unt uf .~I1 mc,~t~:~ic in.ur.~ucr prrmium~ iu thc m:~nnrr ~+ruv~~~J undCr ~sar:~~;~:?ph 3 hcret~l. rlm' :~mounls d~<hur.rd hy i~n~itf pu~w.~nt t~~ tht~ r:~r.~~•r.~E~h 7. ~~ill~ i~ilrt:•t ILc~r~~ii. :h.~li ~tiC~~iiiil :~.t:liiio~:~! inilrhtr~lnr.~ ~~f Ro~ra~~.~ ~r.u~rd b~ thi. ~I.~n,.:,i~;~ l'nlr.. Ilrn.~~~rr .~n~l 1~n.lrr aui«• t~~ ~~~hrr Icim. ~,f paymcnL ~uch anu~unh.hall hc pa~~ahlr ~~p~~n m~ti.~ f~um 1 rndc~ h~ Barru~~cr r«Rur.tin?~ paym~nl ih.•rr.~f. .:n~1 ,h.~ll h~ar intrrc.t frvm Ihc datr of Ji.hurccmcnt at thc ratc ra~•ahk fii,m Iimr to tim~ ~~n ~~ul~t:uidin~ principil unJ~r th~ \utc unlccc pa}•mcnt af intrrrst a~ ~uch ratc ~~ould hc conlrary tc, appliraMr 1~~.. in ~.hi~h ~~~cnt ~uch anu,unh ~h:Jl tr:ar in~c~«t at thc highcct ratc pc~mic~iM.• undcr applicahlc (aw~. NothinR cun~:~incd in thic p:u;~cr;~rh 7 chall rcyuir~ I cn~~ r 1o incur :~m c~~ncc or takc any a~~i~~n hrrcurxirr. li. Incpection. 1_cn.lcr may malc or cau,r to hc m:~dc rca«nahlr rnlri« up~~u and in.pc:ti.,n. ~f thc Pr~~~xrt~~, pm~~i~tcd th:~t 1 rn~lcr ~hall gi~•c liorro~~•~r nutirc priar to am~ ~uch incpccti.~n ~~n~if)•ing rcac~mablc ~au<< th~rcG,r rcl:dcd to I cndcr's intrr~~t in Ihc Pmpcrt~•. 9. ('ondemnalion. 'l~he pnk~Yd. uf :u?)~ award ar claim for Jamae~s. direct or ce~n.equcntial. in ~onnection Wilh any cundcmnatiu~ or othcr taking t•f thc Pr.~pcrly. or part thcrcof. i~r for c~~nvct•ancc in li~u ~?f condemnation. arc hcrcfiy accigncd ;?nd ~hall h~; paid to I.cnd~~. ln thc cvcnt ot a total taking of 1hr ProExn~•. thc pr~cc~lc chall tx: ap~licd t.~ thc ~simc cccurcd b~• this !~lortga~c. w~ith thr c~cca, if an~•. paiJ t~~ BorrrH~rr. In ihc cvcnt ~•f a parti:~l ta{.in~ ~~f thr Pro~xrt~. unlc~c IiorroW~r and I.cnJcr othcn?i.r agrcc in w•riting. ~hcm chall hc aprlird t~~ thc ~umc u;urc.l h~~ thic Mnrtcaic cuch pmpartion of thc prc~cceds as ic rynal t~ that pru{x~rtic~n ~chich thr ~mount the sum~ •r:~irrd h~• thic \toitgacr immediatel~' prior to Ihe date of takin~ tkar. to the fair market ~alur af thr Pruperl~~ immediatrl~• ~ri~r ro the J:~te of tak+m_, ~~ith the bal~nce of the prc?ceeds paid t~? Barrrnvcr. ' If the Property is ab~ndoned bp Borro~~•cr, or if. alter noticc by T.ender to Borrow~er that the condemnor ofiers to make an a~+•nrd or settlc a claim f~r damac~s, Rorro~vcr failt to rctip.~nd to 1_cndcr v?•ithin ?0 da}'~ aftcr thc datc such noticc is mailed, i.ender is authorized to c~llect and apply ~he procced~. at I.ender'c option. either to rectoration or repair of the Pro~xrt~ or to the sum~ ~c:urcd M• this Ntortgagc. ~ Unlesc Lender and Borro~+•er other.~•ice agree io ~~•ritine. am• ~i:rh application of proceedc to principal shall not extend _or po.tM~ne the due da~c of thc monthly installmcnti rcferrcd t~~ in paragraphs 1 and 2 hertof or change the amount of such i~stallmentc. 10. Borrower Not Released. Extencion of the time for pa~•ment or mc~dification of amortization of the sums secured by this 1?'Iortgagc granted by I.ender to an~• successc+r in intcre~t of Bor~ower shall not operate to release, in any manner, the liahility of the original Borrower and Rorro~~~er's succes~orc in interest. Leoder shall nat be required to eommence proccedings against such successor or refusc to extend time for payment or ~thcrw•icc modif~• amortization of the sums se~:ured by this Mortgage by reason of any demand made by the orie~nal Borrower and Borro~eer's succescors in inttrest. l l. Forbesrance by I.ender Aot a Waiver. A~ty forhrarance b}• I.ender in exercising am• right or remedy hereundtr. or otherwise afTorded by applicable law, chall not t~e a waiver of or Preclud~ the exercise of any such right or remedy. The procurement of insurance or the payment of ta~ec or other liens or charges by I.ender shall not be a w•aiver of I.ender's right to accelerate the maturity of the indebtednecs securcd hy this viortgage. 12. Remedies Cumulati~e. All remedies pro.•ided io this '~tortgage are distinct and cumulative to any other right ~r - remedy under this Mortgage or afforded hy la~~• or equity. and may be exercised concurrentl~~. independend}' or sticcessively. 13. Successors and Assi~ns Boood; Joint ~nd Se.~eral i.iabilit}•; Captions. The co•~enants and agreements herein containe:l ~hall bind, and thc ~ights hercunder shall inure to. thc rc~pective successors anJ astigns of Lender and Rorrower. subject to the provisiont of paragraph 17 hereof. All ro~'cnants and agrccmentc of Borro~cer shall hc joint and several. The captions and headings of the paragraphc of this l~tortgagr ~e for convenience onlp and are not to be used to interprct oc define the provisions hercc~f. 14. lYotice. Except for any notice rcyuired unJer applicablc law to be given in another manner. (a) any notice to Burra~ve~ pmvided for in this '~tortgage shall tx: given b~• mailing wch notice b}~ certified mail addressed to B~rrow•er at the Prapcrty Address or at such other addresc as Borrower ma~• designate bp notice to T.ender as provided herein. and (b) an~• nMice to Cender shall he gi~~en by certifi~d mail. retum receipt requested. ro l ender t addresc stated herein or to such other address as Lender mag decignate h~ notice t~~ Barr.~wer as provided herein. Am notice provided !or in this Mortgagc shall be deemed to ha~•e been given to Borrower or Lender v?hcn given in the manner designated herein. ' 15. Uniform 1ltort~a~;r. Go~ernin~ i.aw; Severability. This form of mortgage combines uniform covenants for national k use and non-uniform rn~•enanta v~•ith limite~l ~~ariations b~~ juricdiction to constitute a uniform security i~strument covering ~ real propert~~. This Mortgage shall be governed hy the laM• of the jurisdiction in which the Property is focated. In the ` event that any provision nr clause of this Mortgage or the i~ote contlicts v?~ith applicable la~•, such conflict shall not affect ! othcr pro~~isians of this 111ortgagc or thc Notc w•hich can br gi.•cn cffect without thc conflicting provision. and to this ~ end the provisions of ~he Atortgage and the Notr arc dcclared to hc severable. 16. Borrower•s Copy. BorroH•er shall be furnished a conformed copy of the Note and of this Mortgage at the time ~ of execution or after r~ordalion hereof_ ~ 17. Transfer of the Pruperty: Assumplion. If all or an}~ pnrt of the Property or an interect therein is sold or transferred ~ by $orrower without Lender's prior written consent. excluding (a) the eteation of a lien or encumbrance sutwrdinate to thic ~tor~gage. (b) the creation of a purchase mone~~ securitr interest for household appliances, fc) a transfer b~~ devise, desccnt ar by operation of law upon the death of a joint tenant or (d? the grant of any leaschold intcrest of three )~cars or less not containing an option to porchase, Lender may, at I_ender'~ option, declare all the sums secured by this :~tortgage to Me immecliately due and payable. I.ender shall have w••ri~•ed such option to accelerate if, prior to the sale or transfer. Lender and the person to whom the Property is to t?e sold or transferred reach ag~eement in w•riting that the creJit of such person is satisfactory to I_enJer and that the intere~t payable on the sums secured hy this Mortgage shall be at such rate as I_ender shall request. Tf i.ender has waived the option to accelerate provided in this par•rgraph 17. and if Borrower's successor in interest hat executed a K•ritten assumption agrrement accepted in writing b}• I.ender, I.enJer shall relcase Borrow~er from all obligations under this Mortgage and the Note. ~ If Lender exercises such option to accel~rate. I endrr shall mail Bormwer notice of acceleration in acrnrdance w•ith parag.raph 14 hereof. Such notice shall provide a pericxi of not les~ than 30 days from the date the notice is mailed within ~ which Borrower ma)• pa~ the sumc declared due. If Borrawer t:?ils tu pa}' st~ch sums prior to the expiration of such period. g, I.ender ma}•, without further notice or demand on Borruwcr. in~•oke an~• remedies perm~tted h~• paragraph IR hereof_ ~ NO~-UNIFORM CUVt~.1vTS. Borrower and I.ender further coven:int and agree as foliows: h ~ 18. Acctleralion; Remedies. Fxcept as provided in para~~aph 17 hereof, upon Borrower's breach of any co~enanf or F ~ aKrrrment of Borrower in this liortga~;e, includinR Ihe co~enants to pay when due aoy sumy cecured by this ~tortgaRe, [.ender prior to accelerafion shall mail notice to Borrow~er as provided in paraRraph 14 hereof specii~•ing: (1) the breach; (2) lhe action ~ required to cure such breach; (3) a date. not less lh~n 30 da~~c from the date the notice is mailed to Borrower, by w•hich such ~ breach must be cured; and (4) that failure to cure such breach on or beforc the date specified in Ihe notict may rault in ` acceler~tion of the sums secured by this l~tortga~e. foreclosure by~ judicial proceeding ~nd sale of the Property. The notice ~ shall further inform Borrower of the ri~;ht to reinstate after accele~ation and tht riRht to acsert in the foreclosure proceeding ' ~ the nun-eristence of a default or any other defen~e of Borruwer to acceleration and forccl~~sure. lf Ihe breach i~ not cured on ~ or bef~~rc Ihe date specified in the notice. I.ender at I.ender's option may declare ~II oi the sumc secured by this Rto~rtRage to be immediatel}• due and payable without further de~nand and may foreclose this 1~fortRa~e b~• judiciat proceeding. Lender shall be enliUcd to collect in sucfi proceedin~ all expense~ of foreclo~ure. includinR. bot not limited to, reac~nable attorney'c feec, and co+tti of documentary~ evidence, abstracfs and lille reports. 19. Borrovrer's RiRht tu Reinstate. N~~twithtitanding I.enJer'. ac~elerati~n of the sums securcd by th~s Mortgage. fiorruurr shall have the right to ha~e procreJingc txiun h} Lender tu enforc~ thi, ~1~rtgage diicontimieJ at an~• timr : t 3 ~ Bo~K zss PACE 4 ~s _ ~A_.. . _ _