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Home My WebLink About0961 . • . . . l.cncier s writtcn agrcimcnt cx appli~ablc law. 13o~rowe~ shall pay the amount of all mortgaga inwrance prcmiums in the manne~ prc~vidr~l under paragraph 2 hercof. Any amaunts disbursed by I.cnJer pursuant to ~his par:~g~aph 7, wiih inten:st thereon, shall 1?ccome additional iiul~btedness of BorruH~cr secumd hy lhic Mortgage. l.'nlc.e Borrow~er :~nJ LcnJcr agrcr to othe~ termc of payment, xuch amauntc shall he payable uEx~n no~ire fmm I.rnde~ to &~rrow~r reyu~:~ting payment thereof, and chall hear interesl fmm the Jate of disbu~semenl at the ratr payahlc fn,m timc to time c~n outslanding principal under the Note unleca payment of interest at such rate would he rnntran~ to applicable law, in a~hich event cuch amounts shall hear iMerest at the highest rate ; permissible under applicablc law. Nothing contained fn ~his paragraph 7 chall requin; 1.ender ta incur aoy expe~se or take ` any action hcreundcr. 8. laspeefion. I_ender may~ make or rau~e to 1,~ made rraconahle emriee u{x~n and incpertionc of the Property, pmvided ~hat l.ende~ shall give Borrow~er n~~tire p~i~~r to any ~uch inspection specifying rcasonable cause therefor related to I.ender's intercst in the Property. 9. Condemnation. The nnxced~ of am• aHard or claim for ~IamaKCS, dir.cct or c<~n~cquential, in connection with any condemnation or other taking of the Pro~xrty, ur part thereof, or for ~~+m•cw~nre in lieu of condemnation, are herehy ascigned anJ shall 1+c paid to l.cndcr. ln the event of a total laking of the Pro~xrty. the pnkeeJc ~hall be applied to the sums cecured by thic MoAgage. with the rrcecs, if any, paid to Barrc~wer. ln thr event ~~f a partial takin~ of the Property. unleca Bormwer and Lender . otherw~ix: agree in w~riting. therc shall he applied tc. the cums tircured M• this Mortgage ~uch proportion of the proceeds as is equal to that proportion H•hich the amaunt ~f the cumc ~rrured hy thic \lortgage immediately prior to the date of } taking bears to the fair market ealue of the Pr.~~xr~y immrdi:~tel~~ prior to the ~late of taking, with the balance of the proceeds paid to Borrawer. lf the Property ic abandoned by Borrower. or if, aftcr notice hy 1 ender lo R~un~wer that the condemnor ofiers to make i an award or scttle a claim for damagct. B~rrc•wrr fail. r~~~x~nd ti~ Lcndcr within ?0 daps aftcr thc datc such noticc is ` mailed. Lender i~ authorized to collect and apph~ the prcxcedc. at Lender'. opti~~n. either to restoration or repair af the Propeny or to thc sumti ~ccurcd hy this Morteacc. Unles~ l.ender and Borrow~er otherwicc agree in ~~ritin~, an~~ surh ~pplicatic~n ~f prcxecdc to principal chatl not eztend or poctpone the due d•rte of the monthly installments refcrr~d to in paragraphc 1 and 2 herrof or change the amount af such installments. 10. Borrower 1Vot Reltased. Extencion ~f the time fo~ paymenl or modificatior. of amortization of the cumc secured by this Mortgage grantcd by I.cnder to am• ~urcc~u~r in imrre~t of Barrower ~hall not oFxrate to rclcase, in any manncr. the liability af the original Bonower and R~?rmwer'ti ~ucrrslorc in interest. Lcnder shall not he rcquired tc• commence proceedings against such successor or refu~ te. e~tend time for payment or otherw~ite mcxlif}~ amortizalion c.f the ci~ms secured b~° inis n~iongagc n~° reau~n oi :m}• d~m~~ici madz ist zne c~ri¢~nai n:;~ z:::.:..:': - 11. Forbearance by I.ender Not a Wai.•er. :~nc f~~nc~aranre b~• I.cnder in c~crci~ine am~ right or rcmedg hcrcunder. ar otherwise affordeci by applicahle iaw. ~hall not he a waive~ of or preclude the erercise of am~ such right or remedy. The procurement of insurance or the payment of ta~es or other liens or chargcs by Lender shalf not bc a waiver of 1_endcr's right to accrlerate the maturity of the indehtedness cerumd h~• thic Mortgage. 12. Remedies Cumulatire. All remedie~ pro~•id~~ in ihic 1liortgage arc distinct and cumulative to an~~ other right or remedy under this Mortgage or afforded h~~ law• or eyuit~•. :+nd ma}~ he ezercia:d concurrcnth~, independenth• or succe~siveh•. 13. Snccessors and Assi~as Bound; .loint and Se~eral Liabillty: Captions. The covenants and agreemems herein contained shall bind, and thc riRhts hercunder shall inurc to, thc recpective succe~c~rs and ac~igna of 1_ender and Borrowrr. - subject to the provision~ of paragraph 17 hereof. All coveiiants and agreemcntc ~f Bormu~er sh~ll t+e join! and several. The captions anJ headings of the paragraphc ~.f ~hic l~tortgag~ are f~r convenience onl~~ ~nd arc nrn ti~ be uud to - interpret or define the provisions hereof_ 14. Notice. Except for any noticc reyuired under applicable law• to be given in another manner. (al any notice to Borrow~er provided for in this Mortgaee shall he given b~• mailing tueh notice by certified mail addres~ed to Borrc~W~er at the Property Address or at such olher addre.. as Borrow•er ma~~ decignate b~• noiice to 1_ender as provided herein. and - (bl an~~ notice to Lender shall he given b~• ce~tificd mail. retum recei~t requested. ~c? l enderc adJress stated herein nr to such uther addrecc ~s Lender ma~~ deci¢nate b~• n~tice tc~ Borrower as pro~~ided herein. Any notice pmvided for in this ; Mortgage shall be deemed [o havc becn Fiecn to Borr~~wcr or I.cndcr v~hen gi~~en in thc manner designated hercin. 1S. Uoiform Mort~a~e; Covernin~ I.aw; Se.~erabilit~~. Thi~ form of mortgagc rnmbines uniform rnvenant~ for national use and non-uniform covenantx with IimiteJ variationc h~• juricdiction to constitute a uniform securit}~ instrument rnvering ~ real property_ This Mortgagc shall tx governed hv the law• of the juri~dic~ion in which the Property is Ickated. In the i event that any provision or clauce c1f thi~ t~lorlgage ~~r the 1c~te conflict~ ~rith applicahle law, such conflict shall nat afTect ~ other prc?visions of this Mortgage ar the N~~tr Khich can tx given etTect ~+•ithoiit the conflicting provicion. and to this i end the provisions of the Mortgage and the `ote arc ~lcclared to he sceerablc. - ! 16. Borrower's Copy. Borrow~cr shall ix furni~hed a c~~n(i~rmed cop~• of thc Note and ~f thi~ Morteage at the time • of execution or after recordation hereof. ~ 17. Transfer of the Propeuiy: 4csumption. lf all or am~ pan of the Prnpert~• or an interest therein ic sold or trancferred ~ by Borrower without Lender's prior w•rittcn ronsent. e~cluding (a? the creation of a lien or encumbran~c suFx~rdinate to = this Mortgage. (b) the creation of a purchace m~~ne~~ ~ecurit~• interest f~r househoW apPliances. (cl a tran~(er h}~ devise. descent nr by operation of law upcm the death ~?f j~~int tenant or (d~ the grant of an~ leasehold inte~~st of threc )~cars or Iess s not containing an option to purchase. Lender ma~•. at Lender c opti~m, declare all the sums secured h~~ this !1lortgaee to be = immediately due and pa~~able. Lender sh~ll have .+:~i~rd wrh option to accclerate if. prior to the .ale or transfer. LenJer ~ ~ and the person ta whom the Properly ic to t+e solJ or transtcrred reach agreement in writing that the crcdit of such perton ~ is satisfactory to Lender and that the interc~t pa~:+ble ~~n the sums secured by thi~ Mortgage chall be at such rate ac Lender ~ shall request. If l.ender has waived the option to accelerate pmvideJ in this paragraph 17. and if Borrow'er's successor in i interest has executed a written assump~ion agreement accepted in w~riting h~•~[.ender. I.enJer chall releace Borrow~er from all 3 obligations under this Mortgage and ihe Note. R If l.ender exercises such option to acrelerate. l.ender ~hall mail Borrov~er notice of acceleration in accordancr with $ paragraph 14 hereof. Such notice shall provide a period nf not Iesc than 30 daps from the date the notice is mai(ed w•ithin which Borrower may pay the sums declared due. If Borro~er faik to pa~• such cums prior to the expiration ~~f ~uch peric*d. ~ Lender may, without further notice or demand on Borrower. im~oke am' remedies permitted by paragraph I Q hereof. ~ NoN-UtviFORt?t Coven~NTS. Borrower and Lender funher covenant and agree as follows: - l8. Acceleratan; Remcdies. Except as pro~ided in psra~raph 17 hereof. upon Borrower's breach of any covenant or ' agrcemeat of Borrower in this Mortga~e, includin~; the covenants !o pay when due any snms secnred by thts Mortgage. i.ender ~ prior to acceleratioa sbail mail notke to Borrower as provided in para6nph 14 Aereof specifyiug: (1) the breach; (2) tbe action reqnired to cure soc6 brcach; (3) a date, not less tfwn 30 days from the date t1~e aotice is maikd to Borrowcr, by which such breach must be cnrcd; and (4) that failnrc to curc such breach oa or before the date specfGed ia the notice may resdt ia - accderatae of t6e sna~ secnred by this Mortgage. foncbsurc by judicial proceeding and sale of fbe Pmperty. 77~e notice ~ shall further inform Borrower ot the right to rcinstate after accderation and t6e rfght to asse~t in the forecbsurc pructedi~ i ~ tbe aon-exktence of a defank or any other defense of Borrower to acceleration ~nd fonclosnrc. If the bresch k oof cnred oa or before the dafe specified in tbe notice. Lender at [.ender's option may declue aU of t6e anms secured by this MortgaRe to be x immediately due aad payabfe witbont further demand ~nd may foreclost thk Mort~ase by judicial procetding. Lender shall - be eotitled to collect in sYCb proceeding all e:peases of foreclosure. Includiog. bnt not umited to, rcasonabk sttorney'a fees. sod costs of documestary evidence, a6stracts and titk reporfs. . - 19. Eorrower': Ri~6t to Rti~tate. Notwithstanding Lender s acceleration of the sums secured by this Mortgage. ~ Borrower shall have the right to have any proceedings begun by 1_endsr to enforce this Mortgage discontinued at any time ~ ~ 9u0i( PAGf 9~ ~ ~ ~ - : - . ' _ . _ ._~43. Z'-:_ . - ~~«~"~35: ~"'s~.'s~Y~.._F~ ~a~`.'c r ~ . ~ ` ~ ' _