The URL can be used to link to this page

Home My WebLink About0836 ~ ' ' - ~ ~ . • ` l.ender's writtea sgroema~t or applica6b law. Borr~oww dWl pRy the amount of ali mortasae insuraaoe p~miums in tbe msaae~ provided unde~ Pusaraph 2 ha~eot. ~ Any uraunts disbu~sed by I.endcr purswnl to this paraaraph 7, with interest thenan. shall become additiooal imkbtedness ot Borrowcr stcurod hy this Mongaae. Unkss Bor~ower and Lender aaroe to other terms of payment. sucl~ amounts shall bc payabk upon nMicc frcxn l.e~der to Borrowcr roqueslinE paymeM thereof. and shall bear interc~t froaa the dste of disbuneme~t at the ratc payabk fram lime ta time on a~utandi~s principal under the Note unkss paytneat of ~ iate~+est at such ate would be contnry ta applicabk law, in which event wch amounts shall bear interest at the hial~est ra~e pem~i~ibk under applicabk law. Ndhing cc~tained in ~his paragnph 7 shall requir+e I_ender to incur any eapeme or talce any action hereuader. s. Ir~eetie~. i.cn~kr may make or rausc ta be made rcasonabk cntrics upon and inspections of the Propertp. provided that l.ender shall give BoROwer notKr pric~r ta any such inspoction spocifying reasonabk cause therefor rclated to I.eoder's interest in the Property. 9. Ce~de~w~albw. The procceds af any award or claim for damages, diroct ar consoquential. in connoction with any condemnation or ot1~r taking of the PropeNy, ar pari thercaf, or for conveyance in lieu of condemnation. are hereby assianed and shall be paid to 1.ende~. in the event of a total taking of thc Propchy. thc pra.-ccds ~hall be applied to the sums secured by this Mcxtgage. with the eacesa, if any, paid to Borrower. lo the event of a paNial taking of the Property. unless Bomower and Geackr atherwise agtee in writiog, there shall be applied to ~he ~ums secured by this Mottgage such proporlioa of the pr~coeds as is oqual to that proportion w•hich thc amcx~nt of Ihc sumc seaired by this Martga~te immediately prior ~o the date of ' ~ taking bears to the fair market value of the Pmperty immediately prior to the date of taking, with the t?alance of the proceeds ~ paid to Borrowe~. if the Propeny is at?andonecl by Bor~ower, or if. after notice by l.eoder to Borrovrer ihat the condetnrar otfe~s to malce an award or settk a claim for damag~~s, Borrower fails Io rcspond ta l_ender within 30 days afte~ the date such notice is mailed. Lender n auihorized to collect and apply Ihe proceeds, at I.ender s optian, either to restoration or ~zpair of the Propeny or to the sum. sccurcd h~~ this Mortgagc. Unless I_ender and Bornower otherwice agree in w•riting, any such application of proceeds to principal shall not extend or postpone thc due date of the monthly installmcnts rcferrcd ta in paragraphs 1 and 2 hereof or change the smount of such installments. le. Eorrower Not Rek~sed. Fxtcnsion nf 1he time for payment or modification of amortization of the sumc sccured by this Mcxtgage granted by l.ender to any c~~-eccor in interest of Borrower chall not operate to release. in any manner. the liability af Ihc origi~al Borrowe~ and &?rrowcr s succrssc~rc in interest. I.cnder shall not he required to rnmmenre proceedings against such successor or rcfuse to extend time far payment ar otherwise modify amortizat~on of thr •~lms secured by this Mortgage by reason of an} demand made by the original.Borrawer and Borrowers succenars in in~crect_ 11. Forbeuance by I.eader NM a Wairer. Any forbeara~x.-e by l:ender in exercising any right or remedy hertunder, or othenvise afforded by applicable law, shall not he a waiver of or prcclude the exercise of any such right or remedy. 'il~e prceurement of insurance or the payment of taxcs or other liens or charges by Lender shall not be a waiver of Ixoder's right to accelerate the maturity of the indehtednecs cecured hy this Mortgage. 12. Retne~es Caa~hti~e. All r+emcdies pmvided in this Mortgage arc distinct and cumulativc to any olher right or remeJy under this Mortgage or afforded hy !aw or equity, and may be exercised eo~curre~tly, independently or succeccively. 13. Srcce~ors and Assi~~s Bound: ]an~ and Sereral i.isM'lity; Captions. "Il~e covenants and agreements herein contained shall bind, and the rights hemunder chall inure to. the respective successors and assigns of Lender and Bornower. subja:t to the provisionc of paragraph 17 hcreoL All covcnants and agreement~ of Borrower shall be joint and several_ The captions and headings of the paraQraphc of this Mortgage are for convenicnce only and are not to t~e uced to interpret, or define the provisions herrnf. • 14. NWice. Except for any noti~e rcy~iired under applicable law ta be given in another manner, (a) any notice to Borrower provided for in this Mortgaee shall t+e given hy mailing :uch notice by certified mail addressed to Borrower at - the Properly Address or at such other •rddress as Be?rrower mav designate by notice to i.ender as pmvided -herein, and (b) any notice to Lender shall he given b~ certified mail. retum receipt requested. to l.ender c address stated herein or to such other address.as Lender may decignate by n~tice to Bormwer as provided herein_ Any notice pmvided for in this Mortgage shall. be deemed to havc l+ecn gi~~cn to Bc?rrov?•cr or I_cnder when given in the manner designated herein. l5. Uniform MortRa~e; Go~ernin~ Iaw~; Se~~erability. 'll~is form of mortgage combines uniform covenants for national use and nun-uniform co~enantc with limited variations by juriuiiction to constitute a uniform secority instrument covering ~I real properry. 'ihis Mortgage shall be Roverned hv the lau~ of the jurisdiction in which the Property is located. Tn the j event that any provision or clause of thic Mortgage ar the Note rnnflicts with applicable law, such conflict shall not affect ! other provisions of this Mortgage or thr N~~tc which can be given efTect without the conflicting provision, and to this ~ ~ end the provisions of thc Mortgagc and the Note arc ~k-clared to he severable. 16. aorrowe~s Copy. Borrowe~ shall tx: furni~hed a conformed copy of the Note and of ihic Mortgage at the time of execution or after recordation hereof. ~ 17. Traasfer of t6e Property: Assumption. If ali ~r an~• part of the Pmperty or an interest therein is sold or transferred by Borrower without Lender s prior writtcn ~untent. excluding (al the crcation of a lien or encumbrance subordinate to this Mortgage. (b) the crestion of a purch:,ce m~me~• ~.•curity interest for household appliances. (c) a transler h~• devise. descent or by operation of law upon the Jeath of a juint tenant or (dl the grant of any leasehold interest of thrcc ~~rars or less not containing an option to purchase, [_ender may, at l.ender's option, declare all the sums secured by this Morigage to be immediately due and payable: Lender shall h~vC N':ll~-ed such option to accelerate if, prior to the ~ale or transfer. I.eackr and the person ro whom ihe Property it to bc :ol.l or transferrcd reach agreement in w~riting that the credit of such person is satisfactory to Lender and that the interc~t pa~•able on the sums secured by this Mortgage shail be at such rate ac T_ender shall tequest. if Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's ti~ccessor in interut has executed a written assump~ion agreement accepted in writing by I.encier. Lender shall release Borrow•er from all obligations under this Mortgage and the Note. If Lender exercises such option to accelerate. LenJer shall mail Borrower notice of acceleration in accordancr ti. ~th paragraph 14 hercof. 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 declareJ dae. 1( Borrower fails to pay such sums prior to the expiration of cuch peri.xl. Lender may, without further notice or demand on liorrower, invoke any remedies permitted by paragraph 18 hercof. ~ Norr-UNtFaeu~t CovexeNTS. Borrower and Lender further covenant and agrce as follows: i 18. Aecderatio~; Rea~edles. Escept as pro~ided ia par~rapb 17 hereof, rPoo Eorrower's ~ac~ of s~y co~ewt or ~ agreement of Borrower i~ t6~s Mo~a~e. iaclndi~•tbe covewnts to pay w4e~ d~e aey soms aecered 67~ t6is Morl~e• I.e~der ~ prior lo aceelention sbaB ~ notice to Eorrower as provided ~~raph 14 bereot speci~~: {1) tbe bresc~: (2) tbe actba ~+eqoire~ to care socli breac6; (3) a date, aot las tbaa 30 days fro~ ttie dde t6e votice M ma$ed to sorrower, by whicb ~ ~ breach mmt be c~rsd; aod (4) t6at faitare to cure snch bracb o0 or before t~e date speci6ed b the ~otke rnay resdt i~ sccderaKoR d tre srms sccot~ed br t61s Mart~a~e. torecbsun bp jodkial proceedio~ od sale of the Pruperty. 1be aotice ~ sha~ f~rtber juform Eorrower of e~e ri~1~ eo reinstate d~er sccekratios snd ~6e ~e to ~ssert i¦ ere toreclas.re proeeedi~ t6e aon-t:iste0ce at a~efsrk or aey Mher defe~e of BoROwer to aecekMios sod foreclostire. If t~e bnscb is ~ot c~rei o~ or betore the date s}ai6ed io tbe wMi~ce. Lender at I.ende~s optioa ~ declat~e aY of t1~e mms sec~rea by thk Mort~aRt to 6e _ immediately dne swd payabie withoat farthcr demand s~nd may forec{ost thL Mor1~a`e by ~udjcW'rocee~• i.ender s6a11 6e eatided to colket W s~cti pr~oceedin~ aB e=peases of forecbs~re, iaclt~dio~, b~t ~ot ~tt~ to, rea~oetble attorney's ftes. aed cods d doc~~ eridesce, sbstracls and litk repoiris. l9. dorrower's Ri`6t to Re~oshte. Ncuwithstanding I.ender s acceleration of the sums secured by Ih~s M~rtgage, Borrower shal) have the right to have any proce~-dings hegun hy Ixnder to ~~force this Mortgage discontinued at any time ' eoo~r2?6 Pac~ B:~J ~ - . _ .v. . ~ ~ . -1: