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Home My WebLink About0981 . t I.ender's written agreeme~t or appGrablc law. Nurrov?er shall pay thr amuunt of all mongagc insurance prcmiums in ihe manner providrd under paragraph 2 hercot. A~y amounts disburud by I.enJer purcuant to this par•rgraph 7, w•ith interest ihercon. shall become additional inJebtedness of Bo~n~wer secured by this Mor~gage. Unle~c Barruwer anJ I.ender agree to ather terms of payment, such amo~mts shall be payabk upan natice from I.ender a~ Borrov?•rr reyues~ing payment ~hereof. a~d shall hear i~terest from the datc of disbursement at the ratc payahlc from time to time on outstanding principal under the Note unless payment of intercst at such rate would be cantrah~ to appliceble law, in which event sucfi amounts shall bear interest at the highest rate pernnissible u~der applicable law. Nothing contained in this paragraph 7 shall rcquire I_ender to incur any expense or take any action hercunder. 8. Iaapectba. I_ender may make or cause to be made reaconable entries upon and inspections of the Property, provided that [.eoder shall give Borrower notice prior to any such inspection specifying reasonabie cause therefor related to I.ender's interest in the Property. 9. Coademaatbn. The pre~ceedx of any award or claim for damagcs, dircet or conuquential, in connection with any condemnation or other taking of the Propeny, or pan thereof, or for conveyance in lieu of condemnation, are hercby assigned ` and shall be paid to Lender. ln Ihe event of a total taking of the Proper~y, the procceds shall be applied to ~he sums securcd by this Mo~tgage. with the excess, if any, paid ta Borrower. In the event of a partial taking of the Property, unlcss Borrower and I.ende~ otherwise agrce in writing. therc shall be applied to the sums securcd by Ihis Mortgage such proportion of the proceeds u is equal to that proportion which the amount of the sums xcured by this Mortgage immediately prior to the date of taking bears to the fair market value of the Propeny immediately prior to the date of lakiag, ~vith the balance of the proceeds paid to Borrower. If the Property is aba~doned by Borrower, or if, after notice by Lender to Borrowe~ that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after ~he date such notice is maikd, Lencier is suthoriud to collect a~d apply the proceeds. at I.ender's option, either to restoration or repair of the Propeny or to the sums secured by this Mortgage. Unless I_ender and Borrower ot~erwise agree in writing; any such application of proceeds to principal shall not extend or postpone the due dale of the monthly installments referred to in paragraphs 1 and 2 hercof or change the amount of such installments. 10. Eorrower Not Rele~sed. Extension of the time for payment or modification of amortizstion of the sums secured by this Mortgage granted by Lender to any successor in intercst of Borrower shall not operate to release, in any manner, th~ liability of the original Borrower and Bc?rrower's successors in interest. Lender shall not be roquired to commence proceedings against such succeswr or refuse to extend time for payment or otherwise modify amortization of the aums secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's succes~ors in interest. 11. Rorbqnnce by Lender Not a Waiver. Any f~rt~earance by Lender in exercising any right or remedy hereunder, or otherarix afforded by applicable law, shall not be a waiver ot or preclud~ the exercise of any such right or rcmedy. The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of I.ender's right to accelerate the maturity of the indebtedness securrd hy this Mortgage. ; 12. Remedks Comnlati~e. All remedies provided in this Mortgage ar+e distinct and cumulative to any other right or ; rcmedy under this Mortgage or aftorded by law or equity, and may be exercised concurrrntly, independently or successively. i 13. Socccs~ors and Assi~es Eound; Joint and Several i.iabiliry, Captlons. The covenants and agreements herein ~ contained shal) bind, and the rights hereunder shall inure to. Ihe respective successors and usigns of Lender and Borrower, subject to the provisions of paragraph 17 hereof. All covenants and agrcements of Borrower shall be joint and xveral. ' 'i~e captions and headings of the paragraphs of this Mortgage are for convenience only and arc not to be uxd to ` interpret or de6ne the provisions hercof. ~ 14. Notke. Except for any notice required under applicable law to be given in anotF~er manner, (a) any notice to Borrower provided for in this Mortgage shal! be given by mailing such notice by certified mail addressed to Borrower at ~ a the Property Address or at such other address as Borrower may designate by ~otice to T_ender as provided herein, and (b) any notice to Lender shall be given by certified mail, return receipt rcquested, to i.ender s address stated heroin or to j such other address as Lender may daiRnate 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. 15. Uoiform Mortaaae; Goreroi~ I.aw; Severab0ity. This form of mortgage combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument rnvering ~ rea) property. This Mortgage shall~be governed by the law of the jurisdiction in which the Property is Iceated. In the _ - j event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shal) not affect ! other provisions of this Mortgage or the Note which can be given effect without tht conflicting provision, and to this ~ end the provisions of the Mortgage and the Note are declared to be severable. , 16. Eorrowes'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. Trsnsfer of tiie Property; A~sumption. If all or any part of the Property or an interest therein is sold or transferred by Borrower without Lender's prior written consent, excluding (al the creation of a lien or encombrance subordinate to - this Mortgage. (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise. descent or by operation of law upon the death of a joint tenant or (dl the grant of any leasehold interest of three years or less ~ not containing an option to purchase, Lender may, at Lender c option, declare all ~he sums secured by this Mortgage to be immediately due and payable. Lender shall have waived siich option to accelerate if, prior to the sale or iransfer. Lender and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender shall request. if Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower s successor in - intercst has executed a written auumption agreement accepted in writing by Lender, Lender shall release Borrower from all obligations under this Mortgage and the Note. Jf Lender exercises such option to accelerate. Lender chall 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 sums declared due. If Borrower fails to pay such sumx prior to the eapiration of such period. [.ender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hercof. Nox-UHtFOR~?t CoveHerrrs. Borrower and Lender further covenant and agrce as follows: 18. Accelentbo; Remedks. Fsccpt as prorided in para6nph 17 hereof. upon dorrower's bresch of aay covenast or ~ s~reement of Eorrower in t6is Mortaa~e. iaclndi~ the coveasnts to pay when due aay wms stcnred by thts Morf;a~e, Leader A prior to accderatbn s6a0 n~ail notke to dorrower zs provided in para6rapb 14 bereof specityini: (1) tbe breac6; (Z) t6e actbe ~ reqoired to cnre sac6 bresch; (3) a date. oot less tban 30 days from tbe date tbe nMice b maUed to Eorrower, by wiik6 sec6 ~ ~ breach mmt be cored: aad th~ failare to cure soch breach on or before tbe date speci6cd in the noHce may resalt ia accderstbn of tbe soms secared by tbk Mort6s~e. torccbwrc by jodkid proceedio; ~d sale of t6e Prope~. 1be notke ~ s6aU fortber iefona Eorrower o~ tbe ri6M to rei~tate after accekrsdon and the ri~6t to ascert ie tbe toreclo~ore proceediu= - tLe ~oet:ieteoce of a defaok or sny Mher defeose of Borrower to accekrNioa and foreclosure. if tl~e bnach h oot cured o0 or betore the date specilied in t6e aotice. Lender st Leader's optbn may declare aU of the wms secrnd by Mh Mort~a`e b be immedlatdy doe and psyabk withoot furtber demaad and may forecbse N~ Mortgage by judicial proceedlos. Leedcr s~all. 6e eatfded to colled ie wch procecdiu= a0 e:penses of foreclosore, iacludioa, bnt oot limited to, reasonaWe ~ttoroey's fees, ~ aod costs ot docomeatary evldeace. a6strscb and tide reports. l9. Eorrower's Ri~ht to RefaWste. Notwithstanding Lender s acceleration of the sums securcd by this Mortgage. Borrower shall have the right to have any proceedings begun by Lender to enforce this Mongage discontinued at any time 6aoK27~ ~E 981 ~ .~..~v~~_.~.: _ - - _ ~ ~=Y. = ~