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Home My WebLink About0465 ~ ~ agreea~eat~or appliable la~r. Bocrower shall pay the smount ot all ~orcgage inwr~nce pren?iums in the manner provided under puagrapl~ Y hereo! , Any amounu disbuacd br Lender punuant a thb puagraph 7. rvith inten~st thercon. shall become additioaal in- debtedness o[ Borrowe~ secured by this Mortgage. Unless BorroiRler and I.e~der agree to other ternu o[ paraent. wth amou~tts shall be paJrable upon ~wcice [rom Lender co Borro~rer requeuing paYment chereot. and shall bear interest from cht date of disbursement at the nte payable [rom time to time on ouutanding principal u~dtt the Note unless payment o[ interest at suth nte wouW be contcary to appliable law. i~ which event wch aa~ounts shall bear interest at the highest ratc permiuibls uniltr appliuble la~v. Nothing mntained i~ this Faragraph 7 shall require I..nder to incur a~y expense or ake aqy action hereun~ler. _ S. I~cttoa. Lender may make or uuse to be made nasonable entria upon a~d in:pections of the Property. pro- vided that I.endet stull give Borrower notiee prior to any wch inspection spaiEying reaso~able ause therefor relatcd to ~ l.er~det's intetest i~ the Propaty.. ~ 9. Conddnwtion. The proceeds ot any award or claim tor damagts. direct or mnsequential, in connection with any coademnation or other txking ot the Property. or put thereof. or [oc mnveyana in lieu oE condem~ation, are hereby as^ signcd and shaU be paid to Le~der. - In the event of a total taking o( the Propeny. the procceds ahaA be applied to the sums secured by this Mongage, ~ with the acass„ if any. paid to Borrower. I~ the event of a partial uking oE the Property. untas Borrorver and Lender f othenvise agree in ~vriting, there shall be applied to the sums seceired by this Morcgage wch pruportion ot the proceeds a; is equal to that ptoponioa which the amount oE the sums secured bv this I?tortgage immediately prior to the date of uking beus to the tair market value oE the Propeny imtnediately prior to the date of uking. with the balauce of the pro- ceeds paid to Borro~rer. If the Propatr is abandoned by Borro~rer. or if. atter notice by Lendet to Borrorver that the condemnor ot[ers to make an awud or setde a claim for damages Borrorver fails to respond to I.ender rvithin 30 days aEter che date such natice is mailed. Lender is authorized to mllect and apply the praeeds, at Lender's option, eithtr to racontion or repair of tbe ; Property or to the suau secured by this Atortgage. _ ~ L1n1as Lender and Borro~rer otherwix agree in ~vriting, any such application of prateds ta principal shall not extend ~ or poatponc the due date of the monthly installments reEerred to in paragraphs 1 and 2 hereof or change the amount of # such installments. ~ 10. Bormwar Not Reka~ed, EXtension of the time far payment or modiEication ot amortintion of the sums secured by this riortgage grantcd by I.ender to any succasor in interest oE Borrow+cr shaU not operate to release, in any manner. the liability oE the originat Borrowrer and Borrower's suttessors in interest. Lender shaU not be required to commence praeedings against wch sutcessor or reEuse to excend time for payment or otherwise modity auwrtintion oE the sums se- ~ cured by this ~tortgaqe by reason of any dem~nd made by the original Borro~ver and Borrowet's succason in i~tera~ 11. Focbruanoe by Lendet Not a Wai~er. Any forbearante by Lender in txercising any right or reraedy hereunder. • ~ or otherwise afforded br appliqble liw, shall not be a waiver a[ or predude the exemse ot any such right or remMy. The procuremrnt of insunnce or the payment o[ taxa or other lieru or clurges by Lender shall not be a wai~er of I.ender's ~ right co accelente the maturicy of the indebcedness secumi by this Mongage. s lY. Remedia Qimulati~e. All n~medi~ provided in this Mortgage are d'utind and cumulati~e to any other right or remedy under this ~ltortgagc or af[orded by law or equity, and may be exercised concurrently,. independently or successively. ~ l3. Suaessors and A~agos Bound; Joiwt and Se~eral Liabilit~; Caption~. The co~enanu and agreemenu herein contained shall bind. and the rights hcreunder shall inure to, the respective successen and assigns ot I.ender and Borrower. ~ subject to the pmrisions of p~ragnph 17 hereo(. All mvenants and agreements of Botrower shali be joint and several. The ~ captions and hndings of the paragraphs of this Mortgage are for con~enience only and are not to be used to interpret or deiine the provisions hereof. - ' 14. Notioe. Extept Eor xny notict required under applicable larv to be given in anocher manner, (a) any notice to Borrower provided Eor in this Atortgage shall be gicen by mailing such notice by certiEied mail addressed to Borrower at the Prnperty Addreu or ac such other address u Borrower may designace b~ notia to I.ender as provided herein, and (b) ~ anq notice to Lender shall be gi~en by certi[ied auil, reaun receipt requested, co Lenders address stated henin or to such { other address u Lender may designate by notice to $orro~ver as pm~ided herein. Any notice pmvided for in this ~fongage i sha11 be detmed to have been given to Borrowet or Lendtr when gi~•en in the manner designated herein. I l5. Uniforw Mortgage; Gavarning La~r; Se~aability. This Eorm oE mortgage combines uni[orm cocenants for na- ; tional use and non-uni(orm m~-enants ~rith limited variations by jurisdiction to tonstitute a unefotm seturitv instrument T co~ering real property. This \tortgage shalt be go~ec ed by the law of the jurisdiction in which the Propeny is located. _ , In the event that any provision or dause o[ this ~iortgage or the I~`ote con[licts with applicable laM, such con[lict shall not : af[ect other provisions oE this Mortgage or the 3Vote r~hich can be gicen effett without the contlicting pro~ision. and to ` this end che pro~-isions of the ~tongage and the Noce are dedared co be severabk. " ~ 16. Borrower's Cop~. Borrower shall be turnished a conformed copy of the Note and of this ~iortgage at the time ~ of execucion or after recordation hereof. ~ 17. ?ramfer ot the Properq; As~umption. IE all or anr part of the Property or an interest [herein is sold or trans- ferred by Borrower without I.ender's prior written oonsent, excluding (a) the creation of a lien or encumbrance subordinate to !his ~fortgage. (b) the creation oE a purchase money securitr interest for household appliances, (c) x trans(er ~y devise, descent or by opention of Iaw ueon the death of a joint tenant or (d) the grant of any leaseho.d interest o( three years or less not mnuining an option to purchase. Lender may, at I.ender's option, dedare all the sums secured by this ~tortgage to be immediately due and parable. Lendtr shall have waived such option to accelerate if, prior to the sale or transfer, Lender and the person to whom the Pro~erty is to be sold or transferred reach agteecient in writing that the credit of such person is satisfactory to Lender and that the interest payable on the sums secured by this ~iortgage shall be at wch nte as Lender shall requa~ If I.ender hu waived the option to accelerate provided in this paragraph 17, and it Borrower s successor in interest hu ezecnted a written assumption agreement actepted in w-riting by I.ender, Lender shall release Borrower from all obligations under this Mongage and the Note. If Lender extrcises such option to accelerate, Lender shall mail Borroarer notice of accelention in accordance with paragraph 14 hereof. Such notice shall provide a period of noc less than 30 days from [he date the noeice i~ mailed within ~ ~ which Borrower may pay the sums dedared due. If Borrower fails to pay such sums prior to the expiration of such pttiod, - ~ I.ender may, wi[hout further notice or demand on Borrower, invoke an~ remedies permicced by paragraph 18 hercoE. ~ Nox-UK~oRac Cov~vrwrs. Borrower and Lrnder furcher rnvenant and agree as tollows: 1& Aocelaatirw; Remediea. Fscept as provided in paragraph 17 bereof, npon Borrowrer's breach of aay rnvenant or ~ agreameat oE Bon+owrer in this Mortgage, induding the cwenaats to pay whrn due ue~ suma secured by this Moregage. Lender prior w aacderation rhall mail notioe to Borrawer as pro~ided in p~ngraph 14 her~wf specifring: (I) che breacL; (7h ~he action nquired to curr wch b*rach; (3) a date. noe les ~hw 30 days trom the due ~he noeice is mailed eo Borrawer. br ~rhich snc6 breach must 6e cvred; snd (4) tLat iailare w cnre such breach an or beEore the date specified in the notice ma~ resnlt in aoaleration oE the wms secured bf thi: Mortgage, foreclawn b~ judicial pmoeeding and de of the Properq. 'The - noeice shall [nnher infosm Borrower oE the right eo reinat~c~ af[er aooekneion and ehe righe co asterc in the foreclosu:e proceeding the non~acistenoe oE a ddault or any other defewe of Bormaer w aooeientioa aad foreclwun. If the brruh is not cnred oa or beEore che date specified in the nocioe, Irendes ac I.li~dds opcion may dedur all of tht sums sen~red b~ this Mortgage w be immediatdr due and payabk withont fnrther dema~d and toa~ toteclose this Mortgagt b~ judicial prooeed- ~ ing. Lendtr s6a11 be entitkd to aoqtct in wch proceeding all ezpen~a of foredasure, including, bct not limited eo, rauon- abk attorneYs [eea„ and oats of documentuy erideace, abssracts aad titlt reports. $fl~~77 ~E 465 - ~