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Home My WebLink About0394 - ~ , ••i` t a t, ' w T.eader's writtaa ajnoement or applieable I~w. 8otrowe~ shall pay the anwunt of all mortgage Iasuraaoe pnmiu~?u in the maaner provided under pua~raph 2 lnreof. My amounts disbursed by Lender punwnt to thie para~rsph 7. with iwtcrest thereon. shall bccome additional iedebtednas of Bomowe~ eecured by thi~ Mortgage. Unless Borrower and Le~der a~ree to othe~ terms of p~ya~ent, such amounts sh~ll be payabk upo~ notice from Leoder to Borrowe~ roquesting payme~t thereof. snd shall bear interest fraa the dste ot d~sbur~t u the rate payabk tmm tiax to time on outstandins principal under the Note ur~less payment of inte~eat at :uch rate would be contrary to applicabk law, i~ which event wch amount: sha11 besr interost at the highest nte permiaibk under applicabk law. Nothlr~g contait~od io this pangraph 7 shdl requin Lender to iacur aay eupease or tate aay actioa hei+euadar. ~ • - a. IMpcefio~. Lender may make or cause to be made reasonable entries upon and.inspectans of tbe Property. provided that Leoder shall ~ive Bocrower notice prior to any such inspection specifying rcasonabk ca»se therefor rolated to I,.a~der't interest in tha Pmptrty. 9. Co~MMb~. The prooeeds of any award or claim [or damaga. direct or oonsequeatiak. ~t? opn~c~on with any ca~d~mnation or other takin~ of the Property. or part thereoE. or for Conveyanc,e in liw of condem~atibn; !re_ lie~eby assigned and ~all be paid ro Lender. ! • , In the av~t of a total taking ot the P~+openy. tht prc~ceeds ~hat! ba appii~ to tt~e aums sxu~ by this Mortgage. with the exoess, if any, paid to Borrower. In the eveot of a partial taking of thc Property. unkss Borrower and I.ender otherwise agroe in writing, there shall be applied to the sums secured by this Mortgage such proportion of the procxed: as is equal to that proportion.which the amount of the :~~ms secured by this Mortgage immodiately prior to the date of ' takina bears to the tair muket value of the Prope~ty immediately prior to the date of taki~g, with the balanoe of the pmceeds paid to Borrow~er. if the Property i3 abandoned by Borrower. or if, after notice by ~.ender to Borrower that the oondemnor otfers to malce a~ awa~+d or settk R claim for damages, BoTrower fails to rapond to i.ender within 30 days after the date such notioe Is maikd. L.ender ia autlarined to oolkct and applx the proceeda. at Lende~'s option. either to e~estontion or repair of tbe Property or to the wms securod by this MoMgage. Unlas Lender and Bornowe~ otherwise egrce in writing, any such application of proceeds to principal shall not extex~d or postpone the due date of the nwnthly inatallments refernd to in paragraphs 1 and 2 hereof or change the amount of such instdltneab. ' 10. Derrower 1Vot Rela~c~. Factrnsion of the time for payment or modiflcation of amortiution of the sums securcd by this Moritage granted by Lender to any snooessor in i~terat of Borrower shall. not opente to nksse. ~in any manner. - ~ the liabi7it}+ of the ori`inal Borrower and Bomower's suoceuon in intarat. Lender shdl not be required to commena prooeedinp agair~at wch suocessor or_ refux to extend time for payment or otherwise modify smatw~tien of the sums secuted by this Mortga~e by reason of any demand made by the original Borrower and Borrower'~suc~ssors in interest. i~. Fo~ara~ce by Leaaer Not a Waher. Any forbearance by Leoder in exercising a~y right or remedy hereun~er, or othenviae afforded by applicabk Iaw. shall not be a waiver of or proclude the exerase of any . such right or ramedy. The procuremeM of i~~ranoe or the payment of taua or othei liens or charges by i.e~der shap not be a waiver of Lender': right ta aaxkrate the maturity of the indebtedness secured hy this Mortgage. 12. Reweiia C~Wdi~a All remedies provided in. this Mortgage are distinct and cumulative to any other right or r~emedy undu this Mortgage or aQorded by law-or equity. and may be exercis+ed concurrently. indepeadeatty or sucoessively. 13. S~ceaso~s ~ AsdLd ~oe~d; Ioiat amd Several T.hb~r; Cspdoos. The rnvenanis and agrcements herein contained aha11 bind, and the rights hereu~dec shall inurc to, the rapcstive suoceuors and assigns of i.ende~ and Borrower. subjed to the provhions of panp~aph f7 hereof. All .covenants arid agramenta of Borrovrer shall be joint and several. 'I1ie caaions and he#dings of the pangraphs of this Mortgage are for oonvenience only and are not to be uaed to interpret or de5ne the provisions hercof. • 14: . Notke. Exoe~ for any notioe required under applicabk law to be given in anothet manner. (a) any notice to ~ Bormwe~ pr+nvided for in thu Mortgage shall be givrn by mailing such notice by certifled mail add~essed to Borrower at the Property Addras or at such other addras as Bornower may designate by notioe to i~nder as provided herein, and - _ (b) any notice to Ixnder shall be given by certified mail, return ~cceipt rcq~xsted, to Lender's address stated herein or to_ such other addras as Lender may dGSignate by notice to Borrower as provided herein. Any notice provided for in thh Mort6age shall be deemed to have been given to Bornower or i.tnder when given in the manner designated herein. IS. U~fons Mort~e; Go~enieR Law; Severabi~y. This form of mortgage eombina uniform rnvenants for national use and non-uniform covenants with limited variations by jurisdiction to coRStitute s uniform security instrument oovering nal property. This Mortgaasee shall be governed by the law of th~ jurisdiction in whieh the Property is located. In the ~ eveot that any provision or clau~se of this Mortgage or the Note oonflicts with applicabk law, such con8ict shall not affect ~ ' other provisions of this Mortgage or the Note which can be g'rve~ effect without the oonflicting provision, and to th~ ~ ! end ihe provisions of the Mortgage and the Note arr declared to be severable. ~ lf. Dorio~er's Copy. . Hormwer shall be furnished a conformed copy of the Note and of this Mortgage at the time ~ of eacxution or after reoordation hereof. 17. 'IYaader of tre troppty; Assamptios. If all or any part of the Property or an interest thercin is sold or mnsferred ~ by Borrower witlaut LendePs prior written rnnsent, exeluding (al the creation of a lien or encumbra~ce subordinate to- this Mortgage. (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devue, desant or by operation of law upon the death of a joiot tenant or (d) the grant of any kasehold interett of thrce years or less _ not oontainins aa option to punha~ Lende~ may. at Lender's option, declaro all the swns sc~ured by this Mortgage to fre immediattly due aod payabk. i.ender shall hav~e araivod such option to acxelerate if, prior to the sak or tru~sfe~. Lender and the penon to whom the Property is to be sold or tranaferred rach agreement in writina that the crodit of such person is satafactory to I.ender and that the iaterest payabk on the aums securod by this Mortgage shall be at auch nte as Lender shall requat. If I.eoder has waived the optifln to accekrate provided in this paragraph 17. and if Boirower's suooessor in iate~at lws esecutod a arrittea aa~mption agreement accepted in writing by Lender. Lender sFwll release Bo~roower from all - obligatioos uader Wis Mortgase and tbe Note. i. If Lender exercises wch option to aooekrate. Leoder shall mail Borrower iwtioe of accekration in aocordanoe with pasagraph 14 hereof. Snch notme stwll proride a period of not las than 30 days from the date the notice is mailed within which Borrower may PuY the sums dectared due. If Borrower fails to pay wch sums prior w the eacpiration of such paiod, ~ Lender may. withaut further notice or demand on-Borrower. invoke any rcmedia permitted by paragraph 18 henwf. ~ ~ ~ Norr-UrnFOa~t Coveru?trrs. Borrower and I.ender further covenaot and a~rx u follows: la. Aoedq~tioe; Rasa~a. 8:ce~t as ~~Ned i~ ~apa~ 17 rersot. ~law ~a's b~eaer ot aq co~eaN or ~ ap+~a~t at ion~war 1~ tii~ Ma~a~e, 6~b~ t~e aoraa~b to pay w6n i~e aq s~ sec~+ei 6~ tLis M~i~~+ Nioe 1s sa~leratlo~ ~ waY ~ofke M~srrower. a~ ~r+o~Nei d p~ra~rs~6 I4 ba~f spedf~t (1) ~e b~eac~ (Z) tre sctlo~ rqaei to c~n s~ inac~ s d~oe, ~ot le~t Wo 3Q ~ tro~ t~e i~te tre ~ofke i~ ~aYed fs Eo~ro~wer. r! wtiicr wci t- breaer art ~e e~re~ ai tiat hibre to e~e+e wcl~ M+esc~ o~ or rdore t~ aale ~peeliei t~ tre ~odee ~ t+a~k i~ soedaa~ at Ire swr aeerrci h~~+ ~ M'~¦[ a¦i ale at tre h+o~. 1Ue ~atioe , ~s1 f~utier i~toro Dorrower d tre ri~it ~o r~1e afta aeederN{o~ nd tl~e ri~ Ia iweN i~ tre taceelonu~e Noeecii~ t~e ~e~oe ot ~~e[a~lt er aq atrer ie~ea~e ot ~oerow~er ~o acede~atio~ a~i foredowre. H we ieweti r~ot c~ei a~ or betoe+e tl~e aa4 Reei6ei i~ tre ~oliee. I.eaier at I.e~ers o~tlo~ say dechre a/ of !ie a~s ~cc~rei i~ t6i~ Mo~e b be ~~e a~i pqabie wittio~t tatMr ~ws~i a¦i ~q totetlore t6b M~or~a~e 67 }iicW pooe~di~. I~esier ~ 6e atWei to co0eet L weti poceeii~ ~ eipe¦res d foeeciowre. aeadi~. br! aot Yskei t0. K~~~ M~~7'~ a~i aods d doe~setl~ e~Weaee, ai~trsetr a~i Wk ~s}ab. 19. ~orrower'a 1ti~t to Rd¦Mata Notwitl?stsndins L.ender's acoekration of the s~ms secu~ed by this Mortga:e. Bocrawa shaU have tha right to have any proceedings begun by Lender to eaforce this Mortgage disoontinued at any time ~ 600K~~ WtCE • - :