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Home My WebLink About0320 l.emle~'s written agreemen~ ur applicable law. Ba~row~~ shall pay the amount of ail mortgage insurance prcmiums in the manner provided unde~ paragraph 2 hercof. Any amounts disburxd by Lender pursu~t to thia parag~aph 7, with interest thercon, shell become additional inJebtedneu of Borrower securcd by this Mongage. Unless Borrowe~ a~d I.enJer agrce ta other terms of payment, such amounts shall be payable upan n~tice f~om t.ender to Bo~rower rcquesting payment thereof. and shall bear i~terest from the ~31t 4~ ~lS~`ilfSL'!l:LSl1 :t~ ii:t jiBjatfn ~ia'~iii ~tiiic ta"3 =Iiii2 3ii f3iitStuituiP~~ jfiifi~i~Bl iiPi~i i~ ~~312 ijiiSa:aS ~iwj.it~t intercst at such rate would be contrary to applicable law, in which event such amounts shall bea~ interest at the highest nte permiuibk under applicabk law. Nothing co~tained in this paragraph 7 shall rcquire [.eode~ to incur any expense or take any action hereu~der. a. Ittzptctt~. Lznder may maS:e or ~aua~ to br ~~~aJe ~eewnxbic eniri~ upun and ina~liuna uf ti~ Pro~xtty, provi~~ tt~at Lender shall give Borrower notice prior to any such inspection specifying rcasonable cause therefor related to Lender's interest in the Property. _ 9. Coademwtbn. The proceeds of any award or claim for damage:, dirccl or consequential, io connection with any condemnation or other taking of the Propeny, or pa~t thereof. or for conveyance in lieu of condemnation, arc hereby assigned and shall t+e paid to ~ender. In the event of a total taking of the Property, the proceeds shall be applied to the sums securcd by this Mongage. with the excoss, if any, paid to Borrower. Tn the event af a partial taking of the Property. unless Borrower and i.ender otherwix agroe in writing, therc shall be appliod to the sums secured by this Mongage such proportion of the proceeds as is equal to that proportion which the amount of the sums securcd by this Mortgage immediately prior to the date of taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds paid to Borrower. ~ If the Property is abandoned by Borrower, or if, after notice by Lender to Bomnwer that the condetn~or offeta to malce an award or settle a claim for damages, Borrower fails to rcspond to Lender within 30 days after the date such notice is mailed, Lender is authoriud to collect and apply the proceeds, at Lender's option, either to -estontion or repair of the Propeny or to the sums secured by this Mortgage. Unless Lender and Borrower otherwise agrce in writing, any such application of proceeds to principal shall not extend or postpone the due date of the monthly installments ~eferred to in paragraphs 1 and 2~ hereof or change the amount of such installments. 10. Eorrqwer Not Rekased. Extension of the time fdr payment or modiflcation of amartization of the sums secured by this Mongage gra~ted by Lender to any successor in interest of Borrower shall not operate to release, in any manner. the liability of the original Borrower and Borrower s successors in interat. Lender shall not be roquired to comme~ce proceedings against such suocessor or refuse to extend time for payment or otherwise modify amortization of the sums securcd by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors io interest. lI. Forbqn~ce by Lender Not a Waiver. Any forbearance by Lender in exercising any right or rcmody hereunder, or otherwise afforded by applicable Isa. shall not be a waiver of or preclude the eaereise of any such right or remedy. The prcicure~~i of insurance or thc payment of taaes or other iiens or charges by I.ender shaii not be a waiver of LeadePs right to accelerate the maturity of the indebtedness secured ~y this Mortgage. ]2. ReaKdies C~aelstMe. All remedies provided in this Mortgage are distinct and cumulative to any other right or remedy under this Mortgage or afforded by law or equity, and may be eaercised concurr~ently, independently or successively_ 13. 3~ccsssors asd A~~s Eoauud; Joiat aod Sererd i,ybiljry; Csptions. 'I1~c covenants and agreements herein contained shall bind. and the rights hereunder shall inurc to, the rapective successors and assigns of Lender and Bomower, subject to the provisions of paragraph 17 hereof. All rnvenants and agrcements of Borrowe~ shall be joint and several. 77~e captions and headings of the paragraphs of this Mongage aro for convenience only and art not to be u~od to interpret or define the provisions hereof. . 24. Notiee. Faccept for any notice required under applicable law to be given in another manner. (a) an~ notice to Borrower provided for in this Mongage shall be given by mailing such notice by certified mail addre.xaed to Borrower at the Property Address or at such. other address as Borrower may designate by notice to Lender as pwvided herein, and (b) anY notice to Lender shall be given by certified mail, return receipt rcquested, to I.ender's address stated hercin or to such other address as I.ender may designate by notice to Borrower as provided herein. Any notice provided for in this Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. 1S. Udfo~ Mort~s`e; Go~erniu~ Law; Sevenb~ity. This form of mortgage combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute, a uniform s~curity instrument coveriag real property. 7~is Mortgage shall be governed by the law of the jurisdiction in which the Propetty is located. In the event that any provision or clause of this Mortgage or the Note conflicts with applicabk law, such conflict shall not affect other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this ; end the provisions of the Mortgage and the Note are declared to be severable. 16. domowe~'s Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time of execution or after recordation hereof. ~ 17. T~aeder of t6e Property; Assumption. If all or any part of the Property or an interest thercin is sold or transfened ~ by Borrower without I.ender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to this Mortgage. (b) the creation of a purchase money xcurity interat for household appliances, (c) a transfer by devviste. ~ descent or by operation of law upon the doath of a joint tenant or fd) the grant of any leasehold interest of three years or less not containing an option to pur+chase, Lender may, at Lender's option, declare all the sums secured by this Mortgage to be , immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, I.ender ~ and the person to whom the Property is to be sold or transferred reach agrcement in writing 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 I.ender ~ shall roquest. If Lender has waivod the option to accelerate provided in this paragraph 17, and if Borrower i successor in interat hu eaecuted a written assumption agrcement accepted in writing by Lender. Lender shall release Borrower from all obligations under this Mortgage and the Note. ~ If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within which Borrower may pay the suma declared due. If Borrower fails to pay such sums prior to the expiration of such period. Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hercof. Norr-UN~FOa~r Coverr~wrs. Borrower and Lender further covenant and agrce u follows: - ~ 18. Accderatios; Re~edia. Fa~cept a~ pwvided ia psra~raph 17 hereof. apoa ~orrower's breaci of any coveaaet or aareaseat ot Dorrower ia trk Mort~e, lacl~dln6 t6e corcnants to pay whea dre a~y snms aecered by t4is Mortaa`e, I.esder ~ prbr b scederatios sbaB ma~ aotke to dorrower as provided ia ~rsgrap~ 14 6ereof spec~io~: (l) t6e bracb; (2) t6e actioa ' rcqalred to eare wcr breac~; (3) a dsh, not las t6ae 30 daYs from tbe date tbe notlce b~ to Eorrowu, by wbk6 sec6 f breacb ma~t be csred; sd (1) tbat failore !o cnrr soch bresch o0 or before t6e date speci6ed b t6e ~otice atay raoit in accekrdlo~ ot tre wms ucared by t6ts Mortaaie. fatclowre by jadicW proceedi~ aed sde of tbe Yropcrty. 11e notice € ahall fortrer ieform Eorwwer ot t6e ri`bt to reinstafe atter sccekraUon sod t6e rit4t to arert is tre fortc{osnre p~oe~ ~ We noaesiiteoce d a def~dt or my otber defeax of Borrower to scceleratbw snd forecbwre. if tbe breacb b oot cnred oa ~ or belore tbe dsh speci8ed in t`e ~Mice. Lesder at Leoder's optbn may declane a6 of tbe mms secnrcd by thL Mortp~e b be i~aa~edfatdy d.e asd piyabk wk6o~t foribtr demaod wd may forecbse thk Morlaa`e by ~udicW proceedio~. Leeder s~al! be eatlded to coBe~~t i~ wc6 proceedias aB e:pe~es ot toreclosnre. iacludiu=. M~t oot Wnited to, reawnabk auorsey's fees, ~ and cosb of docoaeatary evideoce, abstrscb aod tide reporta. ~ _ 19. dornower's Rt~bt to ReimtNe. Notwithstanding Lender s acceleration of the sums secured by this Mortgage, ' Borrower shall have the right to have any Proccedings hegun by Lender to enforce this Mongage discontinued at any time ~ 4 ~ ~ ~ gooK 271 ~~E 320 _ Y.~, ~~~Y.,_ ~~.i Y = . - ' . ~ ~~+~y-~..~,T. ~r' A%~~ ~i