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Home My WebLink About0801 Lender's writtca agroement or applicabb 14w. Bonowcr shall pay ihe amount of all mon~age insurarKx premiums in the mxane~ providcd under paragraph 2 hereo(. Any amounts disburud by I.e~Jer pursua~t to ~his paragraph 7, with intcr~st theroon, shall become additional indcbtedness of Botrowcr secured hy Ihic Mongage. Unlecs Bo~rower and I.enJe~ agrce to other tertns ot payment. such amounts shall be payabk upcu~ notice f~om I.endcr ta Bor~owcr requating paymeot ihe~eof, and shall bear intercst from the date of disbursemeot at the ratc payabk fmm timc to time oo aitsta~ding principal under the Note unless psyment oi intercst at such rate would be canlrary to applicabk law, in which event such amounts shall bear interest at the highest nte permissibk u~der applicablc law. Nothing contained in this paragraph 7 shall rcquirc I.endcr to incur any eapense or talce a~y action hereunder. 8. Isspectio~. I.eode~ may m•rke ~~r cau.e to !~e made reasa~able entries upon and inspectians of the Property. provided that l.ender shaU give Borrower m~tKr priur t~ any cuch inspection specifying rcasanabk cause therefor related to ~ender's intercst in Ihc Propc~ty. 9. Cosdemuatioa. The proceeds of any aw~ard or claim for damages. direcl or conuquential, in connection with any condemnation or other takiog of the Pr~~perty, or pan thercof, or for conveyance in lieu of condemnation, are hereby assigned and shall bc paid to I~nder. In Ihe event of a ~otal taking of the Pmperty. the prcxee.is chall be applied to ~he ~ums secured by this Ma~tgage. with the e!ccess, if any, paid to Bc~~rower. In the event of a partial taking of the Property, unless i3orrower and Lender atherwice agree in writing, there shall be applied to the, sums secureci hy thic Mortgage such proponion of the proceeds as is equal to that proportion a~hich the amount ~.f ~he sumc utiured hy this i?lortgage immediately prior to the date of taking bears to the fair market value of the ProFx:r~y immeJia~ely prior to the Jate of taking, with the bala~ce of the proceeds paid to Bormwcr. • if the Property ic abandoned by Borrovver, or if. after notice by l.ender fo Bormwer that the condemnor of~ers to make an award ar setNe a claim for Jama~~. B~~rrower fail, to re~pnnd to l.ender within 30 days after the date such notice is mailed. Lencler is authorized to collect a~x1 apply ~he prcuecds. at l.ender's option, either to restoration ar repair of the property or ro the sumx secu~ed h~• this MortFal¢e. Unlesc l_encler and Bormwer othenviu agree in ~~ritinc, any such application of procetds to principal shall not extend or pcutpone the due date of the monthly in.tallmcnts rcferrrd to in paragraphc 1 and 2 hereof or change the amount af such installments. , 10. Bomnwer Not Rekased. Extension of the time for payment or modifcation of amortization of the sums securcd ~~~is Mortgage granted by t.ender to am~ .iKCCCa~r in intcrcet of Borrow•er shall noi operatc to release, in any manner. .the ~.~bility of the origina) Borrower and B~~rrou•cr e sucressorc in interest. l.ender shall ~ot he requircd to commen~c proceedings against such successor or refuce ~o ertenJ time for payment ar otherv?~ise modily amortizatiun of thr ~+~ms secured by thic Mortgage by r~Gason of am• demand made by the oriQinal Bo~mwer and Borrowers succetcors in int~re~t. 11. Forbearance by Lender Not a Kaiver. :~n~• fc~rhearance M~ l.ender in erercising any right or remedy hereunder. or otherwise afforded h~ applicable law. shall not be a waiver of or preclude the erercise of an~• such right or remedy. The procu~ement of insurance or the payment of tare~ or other liens or charges by I.ender shall not he a waiver of Lender s right to accelerate the maturily of the indehtcdnecs cecured hy thic Mortgage. 12. Remedies Comulstive. All rcmedies provided in this Mortgage are distinct and cumulative to an} other right or remeJy under this Mortgage M afiordeJ hy law or eyuity. and may be exercised concurrcndy. independentl~~ or successively. 13. Saccessors aad Asce~as Bou~; ]oint and Se~~eral i.isM'lifY; Captions. 'i~e covenants and agreements herein conlained shall bind, and the riRhts hereunder shall inure ta. the respective succeuors and assigns of I.ender and Borrow•er. subject to the provisions of paragraph 17 hercnf. All rn~•ci~ants and agreements of Borrowcr shall be joint and se~~eral. 'Il~e captions and heaJings of the paraeraph~ c.f thi~ I?1aNgage are for convenience only and are not t~ be uced to interpret or define the pravisions hereof. : 14. Notice. Except for any notire rryuired undcr applicable law• to be given in another manner. (a) any notice to Borrower provided for in this Mortgaee shall tx given by mailing such notice by certified mail addressed to Borrower at the Property Address or at such other addret. as Aorn•wer ma~~ designate by notice to i.ender as pmvided herein. and (b) any notice to Lender shall he givcn by certified mail. return receipt requetted. tc~ [.ender s address stated herein or to ~I _ such other address as I_ender may decignate M• n~tire t~• Borrower as pro~~ided herein. Any notice pmvided for in this ' Mortgage shall be deemed to ha~~c t+ccn g~~•en to B~rrawcr or Lender w~hen given in the manner designated herein. ~ 1S. Uniform MortR~e; Gorernin~; iaK; Se~eraMlity. This form of mortgage combines uniform covenantc for national use and non-uniform rn~•enant~ witi~ limited variations M• juricdiction to constitute a uniform security instrument rnvering rea) property. 'il~is Mortgage shall be governed h~~ the law• of the jurisdiction in which the Property is located. In the event that any provision or clairce of thic Mortgage c.r ~he Note conflicts w•ith applicable law. sach conflict shall no! aPFect other prmisions of this Mortgage or thr Nute which can tx; given effect without the con8icting pmviaion, and to this end the provisions of the Mortgage and the Notc arc dcclarcd to he severable. 16. Borrower's Copy. Borrow•er shall tx: furni.hed a conformed copy of thc Note and of this Mortgage at the time of execution or after recordation hereof. 17. Transfer of the Property; As.cumption. Tf ali i~r an~• part of the Pmperty or an interest thcrein is sold or transferrcd by Borrower without Lender's prior writtrn c.~nsent. excluding lal the creation of a lien or encumbrance subordinate to this Mortgage. (b1 the creat~on af a pur~h;~c.~ m~~ne~~ ~ecurit~• interest for household appliances. (cl a ~rancfer hr devise, descent or hy operation of law upon the death of a j~•~nt tenant or (J? the grant of any leasehold interest of threr }~~ars or less not containing an option to purchase. I_ender ma}•, at Lender's aption. declare aU the sums seeured by this Alortgage to be immediately due and payable. Lender ~hall have Nai~~ed such option to accelerate if, prior ta the cale or transfer. LenJer and the person to whom the Propcrry i~ a~ bc :oW ar transfe~red reach agreement in writing that the credit of wrh person is satisfactory to Lender and that the imere.t pa~•able on the sums secured by thi~ Mortgage shall be at such rate at l.ender shall request. if Lender has waived the option to acceler~te pmvided in this paragraph 17, and if Borrower's +uccessor in interest has executed a written assumption agreement accepted in writing by I_enJer. Le~der shall release Borrower from all obligations under this Mortgage and the Note. if Lender exercises such option to accelerale. LenJer shall mail Borrov?•er notice af acceleration in accordancr ith paragraph 14 hereof. Such notice shall provide a peric?c1 of not less than 30 days from the date the notice is mailed w~ithin which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of tuch penacl. Lender may, without further nolice or demand on Korrower. invoke any remedies permitted by paragraph IR hercof. ~ Nort-UN~FOR~?t CovErt~rrrs. Borrower and Lender funher covenant and agree as follows: 18. Acceleration; Remedies. Excep as provided in p~r~rapb 17 henwf. upoa Borrowe~s breac6 of aay covenant or ~ a~reeme~t of Borrower in t6is Mortga~e, iacludin~ the covenants to pay when due aay sa~ secared by this Mortgage. Lender ~ prior to sccekratfoa sbdl mail ootice to Eorrower as provWed ia para~np6 14 hereof specHyin~: (1) the breac6; (2) the action ~ required b cure socb breac6; (3) a date, not le~ than 30 days from tl~e dste the notict b maikd to Borrower, by whkh sucb ~ bresch mast be c~red; and (4) that faflarc to curt suc6 bresch oa or 6eEore the date specified ie the notice msy result in sceekrstioa of trt sams secur+ed by tb~s Mort~age, forecbwre by judichl prnceedio~ aod sak of the Prope~. The notice ~ shall farthtr iaform Eonower ot tbe rig6t to reiastate after acceleration and tbe ri66i to asserf ia t6e foreclawre prnceediu~ tLe nos-esi~tence of a defask or aoy otl~er defense of Borrower to scceleration uid foreclosure. If tLe breaeh is not cored on ~ or before t6e date speciBed in the ootke. Lender ~t i.ender's optbn may dechre all ot tbe sna~ secored 6y thLs Mo~e b be ~ ima~ediatdy due aad psyabk witboet ferther demand and may forecbse thk Mort~a~e by judicW proctedinR• Lender shall ~ be eotitkd to collect ia s~ch proceedi~ ap ~sPcases of foreclosnrr. includio=, but aot Wnited to, reasonsbk atturney's fees. sod costs of docomeataq eridtucq sbstracta aud titk reports. l9. Eorrower's Rt~bt to Reioctate. Nc~tw~ithstanding l.ender s acceleration of the sums secured by th~s Mortgage, Borrower ahall have the right to have any proceedings hegun hy t~nder to enforce this Mortgage discontinued at any time ~ ~ s~s~ Q~.~ ~ 8Q ~,C7e! ~ ~W ~ ~ _ . ~ks . _ ~.o.----- - - - - _ . ~ :