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Home My WebLink About0092 • . ~ l.ender's written agreement ar applicable lew. Horrower shall pay the amount of all mongage insurance premiunu i~ ihe man~er provided ander pa~ag~aph 2 hercof. Any amounts disburscd by I.cnJcr pursuant ta ihis pa~ag~aph 7, wi~h interest Ihereon, shal) bccame additional inJehtedness of Borrowcr sccured hy this Mongage. U~Ie.s Borrc~wer and Lcncle~ agn.~e ta other tertns of payment, such amcxi~ts shail he payat+le u{x~n n~~ticc fmm I.cnder to &umwer reyues~ing paymcnt therrnf, and shall hear interest from the date ot disbursement at thc rate payahlc from limc to time on o~Ustandi~g p~incipal under the Note u~kss payment ot intercst at such rnte would be contrary to applicable law, in which event ~uch amounts shall l~ear interest at the highest rate permissihle under applicable law. Nothing con~ained in thic paragraph 7 shall require l.ender to incur any expe~e or take any action hereu~der. 8. Inspeetion. i.ender may make ~~r canse ta t?e made rcasonable ent~iec u~n and ins~etionc of the Property, provided that l.enckr shall give Barrower no~ice pri~~r to any such incpec~ion speci(ying reasonabk caus~: therefor reiated to l.ender's intcrest in thc Property. ` 9. Condemnation. The pnxeedc ~f any aW~ard or claim for damages, direc~ or concequential, in cannection with any rondemnation or othcr taking of thc Propcrty, ur pan tAcrcof, or for c~?nvcyancc in licu of rnndemnation, are hercby assigned ancl shall bc paid to I.endcr. In the event of a totrl taking of the Properly. thc prcx:c~Js ~hall hc applicJ to thc yims sccurcd by~ thic Mortgage. with the e+~cecs, if any, paid lo Bo~mwer. In ~he event of a partial taking ~~f the Property, unlecc Borrower and I_ender ~~~herwise agree in writing. iherc shall l~e applied to the sum~ secun:d bp thic Mortgage such proportion of the procteds as ic equal to that pro~rtion which Ihc am~~u~N ~~t thc sum. ~ccurcd hy this Mortgage immediately prior lo the date of ~ taking hears to the fair market valuc of the Pm~xny immediatel~• prior to the ~late of taking, with the balance of the proceeds paid 1o Bormwer. ' lf the Property ic abandoncd hy Borrower, or if. aftcr noticc hy l.cndcr to Borrowcr that the candemnor oftcrs to make an award or zetNe a claim fo~ damagr~, Borrower fail. t~~ resM~nd to I.ender within ?0 days afrer the date such notice is m;~iled. Iender ic autharized to collect and apply.~he prncecds. at 1_ender'c option, either to rcstoration or repair of the Praperty or to the sums secured fi~ this Mortgace. Unlesc l.ender and Borrower other.~•icr agrec in w~ritinc. am• such application of prcxeeds to pri~cipal shal) not extend er p.xtp.zne thc due da~e of the monthlv installmcnts rcferred to in paragraphc 1 and 2 herrnf or change-the amount of cuch im~allments. • 1'1. Borrower Not Releaced. Exten~ion of the time for payment ar modification of amortization of the sums secured hy this Mortgage granted by l.ender to any tiuccecu~~ in intere~l of Borrower tihall ~not operate to release, in any manner. the liabilit)~ of the ori¢inal Bormv?•er and Rarrow•cr't surcessorc in interest. ' i.ender shall nM he required tc? commenre proeeedings against such suecessor or refuse to ertend time for payment or otherwice mc~dify amorti7alion of the ~ums ~erured by thic Mortgagc hy reacon of am• demand made b~• the orieinal Borcower and Borrower s succec~ors in interett. 11. Forbesmnce by I.ender Not a Waiver. :1ny fi~rhearance by Lender in erercising any right or remedy hereunJer, or otherwise afTordec! by applicahle law. shall not he a waiver of or preclude the exercise of an}~ such right or remedy. The procurement of insurance or the payment of tar~~ ~~r other liens or chargcs by ~I.ender shall not he a v~aiver of l.ender's t right ta accelerate Ihe mawrity of the indehtedneas ~ecured h}• thic Mortgage. ~ 12. Remedies Comulati~t. All rcmedies pn.~•ided in this htortgage are dislinct and cumolative to any other right or remeJy under this Mortgage or aBnrdeJ M• law or eyuit): anJ may be eYercised concurrently. independentl~• or succecsively. - 13. Snccessors and Assi~ns Bo~md; Joint and Several i.iabilify; Captions. The covenants and agreements herein contained chall bind. •rnd the riRhts hercunder shall imirc to. the respective succecs~.rs aod ascigns of I_ender and Borrower. subject to the pmvisions of paragraph 17 hercof. All covenants anJ agreements of Bor~ow•er shall he joint and ~everal. . The captions and heading~ of the paragraph~ of thic Alortgage are for canvenience ~nly and are nM to t~e uk'd to interpret or define the prmisions here~f_ 14. Notice. Except for any notirc rcyuired under applicable law• to be given in another manner. (a) an~~ ~otice to Borrower pmvided (or in this Mortgage shall he gi~~cn h~• mailing such noticc by certified mail addres~eJ to Borrow~er at ; the Property Address or at such ~~ther addrec. :+s B~.rr.,wcr mav designate by ~otice to l.ender as provided herein, and ; (hl an~• notice to l.ender shall tx: given hr certifird mail. retum receipt requested. to Lender~ address stated herein or to such ~?ther address as Lender map de~ienate bc n~tirr t~~ Bormw•er as provided herein. Any notice pmvided for in this Mortgage shall hc deemed to ha~~c bcen gi~~cn to BorroH•cr ar Lcnder when gi~•en in thc manner designated hercin. I5. Uniform Mort~a~;e; GoverninR I.aw~; Se~erabilif}~. Thic form of mortgage combines uniform crnenantc for national use and non-uniform co~•enantt with IimiteJ ~~ariationc M• jurisdiction to rnnstitute a uniform security instrument covering j real property. "ihis Mortgage shall be g~~~•erned M• thr law of the jurisdiction in which the Property i~ located. In the ; event that any provision or clause of thi~ ?~lortga~c ~~r the ~ote c~nflictc with applicahle law. such conflict shall not affect i other pr~visions of this Mortgage or the Notr whinc ~an 1x: gi~~en etTect without the conflicting prm~iaion, and to this ~ end thc provisians of the Mortgagc and the ~~?tc are .I~clared t~~ he scverable. ! 16. Borrowers Cop}•. Borrower tihall h~ furni~hed a ccmf~rmed rnpy of the Note and of this Mortgage at the time. ' of execution or after recordation hereof. ~ 17. Traasfer of the Property; Acsumption. if all or an~• part of tbc Pri~perty or an interest thercin is sold or transferrcd by Borrowcr without•I.ender's prior writt~n ransen~. e~cluding lal the creation of a lien or encumbrance sulx~rJinate to ~ thic Mortgage. (h? the creation of a pur~h.~~c mnne~• ~crurit~• interest for hauuhoW appliances. (c) a tran~fer h~~ devise. ~ descent or by operation of law upc?n the Jeath of a j~~int tenant or (d~ the grant of am~ Ieasehold intercst of three }•ran or lecc not containing an option to purchase. I.ender ma}~. at Lender'~ option, declare all Ihe sums secured b}• this ~tortgage to be ~ immediatel}• due and pay~abfe. Lender chall ha~e ~~:+i~~ed surh option to accclerate iL prior to the cale or trartsfer. Lcnder ~ and the person to whom the Proper~y ic a~ be :oIJ .~r tr~nsferred reach agreemem in writing that the creJit ~f wch person is satisfactory to I_ender and that the interr.t pa~able ~~n the sumt serured by thic Mortgage shall be at such rate aa 1_ender shall reyuest: If Lender has waived the option t~ acceler~te provided in this paragraph 17, and if Borrower's successor in interest ha~ executed a written assumption agrcement accepted in writing by Ixnder. Lender shall releace Borrow•er from all obligations under this Mortgage and the Note. _ ~ If Lender exercises such option to accelerate. LenJer ~h~ll mail Bc?rrower notice of acceleration in accordance ~ ith paragraph 14 hereof. Such notice shall provide a peri~xl of nrn lest than 30 da)'s from the date the nodce is mailed within which Borrower may pay the sums declareJ due. I( Rorrouer fails to pay~ sach sums prior to the expiration ~~f curh pcriud. Lender may. without further notice or demand on BorruNCr. invoke anp remedies permitted h}~ paragraph 13 hercof. ~ ~ 1 ~ Notv-UNiFORr~t CovE~~tvTS. Borrower and Lender further covenant and agree as follows: ~ ~ 18. Accderation; Remedks. E:cept ~s pro~~ided in paragraph 17 hertof. upoa Borrower's breach of any covenant or - ~ agreement of Borrower in this Mortg~e. including the covenants to pay when due any sums secured by thts Mortgnge, i.ender ~ ~ prior lo accekntbn s6a11 mail aotice to Borrovrer as provMed in paragraph 14 bereof specifying: (1) tbe breach; (2) the action a required to cnre sne6 breach; (3) a date, not less than 30 days from the date t6e aotice ~s malled to Borrower~ by vrhich such ' ~ breach must be cnred; and (4) Ihat failure to cure such breach on or before t6e dste apeci6ed ia tl~e notke msy resdt in ~ sccderation of t6e sams secnred by this Mortgage. foreclosurc by judlcial proceed'en~ aad sak of tbe Property. 'IUe notice ~ shall furiher ieform Eorrower of the rq~ht to reinstate after accekration and t6e rig~t to assert in t6e foreclosure proceeding t t6e aoo-e:istence of a default or any othet defense of Borrower to accekration and foreclosure. If the bresch is not cured on ' ~ or beforc the date speci6ed io t6e notice. I.ender al I.ender's option may declare sll of the sams secared by thls Mort~aRe to be ; immediately dne aad payable without further demand and may forecM6e t6is Mott6a6e by jodicial proceedln~• Lender shall ~ be eotitled to collect ia soc6 proceedir~ all e:penses of forecbsure. lacludiu`, but not Urnited to, reasonable attorney's fces. ; aod costs of doca~atary evldence, abstracb and titk repo~. ' ~ 19. Bomnwer's Ri~ht to ReFnstate. Notwithstanding Lender s acceleration of the sums secured by this Mortgagt. ~ Borrower shall have the right to have any proceedings begun hy I.ender to enforce this Mortgage discontinued at any time ~ ~ 8:~~~ P~1:,~ ~ ~ ; ~ ~ ~ _ - - . _ _ - - _ - ~ - ; - ~ - _ ~ ~ x ~ ~ _