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Home My WebLink About0334 . ~ . ~ . . ~ ~ ~ I_cndcr's written agrcement or applicable law. Burrawer shall pay the amount o[ all morigsge insurance premiums in ihe ma~ner p~ovidcd under parag~aph 2 hercof. Any amounts disbursed by t.e~de~ pursuant ~a this par~graph 7, with interest thercon, shal) become additiona) in~ebtedness of Bo~rower secured by this Mortg:~ge. Unle*z Borrow~e~ and Lender agrce to other terms ot payment, such amounts shall be payabk upon notice irom l.ender to Borrow~r reyuesting payment therec~f, aod shall bear int~rat from ihe dale of disburscment at the rate payable from time ta time on outstanding principal under the Note unleu pa)~rltent of ! interest at such rate would l+e contrary to applicabic iaw, in which event cuch amou~ts shal) bea~ interest at the highest rate ' permissihle under applirablc law. Nothing rnntained in thic paragraph 7 shall rcquire i.endcr to it~cur any expense or take ' any action hereunder. 8. Inspectioa, l:ender may make or cause to he made reaconable entriec upon and inspectionc of the Property, provided that [.ender shall give Borrower notice pria~ ro any such ins~?ection spec+fyeng masonable cause therefor related to Lender's interes~ in the Propert}•. 9, Condemnation. The proceeds of any aaard or claim fnr damages, direct .~r cantequential, in connection with any 4 candemnation or other taking of the Property. ~r part thereof, or fo~ conveyance in lieu af condemnation, are hereby assigntd anJ shall hc paid to I.cnder. In the evcnt of a total taking af thc Pmpcrty. the prckceds chall be applied to the cums secured by this Martgage. with the e~cecs, if any, paid to Borrower. In thc event of a partial taking of the Property. ~mless 8orrower and I_ender o~herw•ice agree in w•riting. there shall he applied to thc sums sec~~rcd by thic Mortgage such proportion of the proceeds as ic equal to that pm~rtion which the amount ot the som~ ~ecured h~• this Mortgage immediately prior to the date o~ taking bears to the fair market value of the Propert~~ immediatel~• prior to the date of taking, w~ith the balance of the proceeds paid t~ Borrower. " lf thc Pmperty is abandoned by Borrow•cr, or if. aftcr notice by I.endcr to Bormwer that the coademnor oifers to make an :lN~ard or cettle a claim for damsge~, Borrower fail+ to res~nd M l.ender within 30 da~~s after the date such natice is mailed. i.ender ic authorized to collect and apply the proceeds, at i.ender's option. either ta restoration or repair of the Propert}• ar ta the sum~ secured h~~ this Mortgage. Unles~ I_ender and Borrower otherv?•ise ~agree in wriline. am• such application of proceeds to principa) shall not extend or Exxtpone ihe due date of ihe monthl~• installmcnt~ rcfcrred to in paragraphs 1 and 2 hetcof or change the amount of cuch inslallments. . 10. Botrower Not Reles~sed. Fxtension of thc time for paymcnt or modification of amortization of the sums secured bp this MortFage granted bv f.ender to any success~~r in interest of BorroN•er shall not operate to release, in any manner, the liabilii~• of the origina! Borrower and &~rroHCr'~ successorc in interes~. i_ender shall not he required to commence proceedings against such suttessor or refuse to extend time 'for payment or otherwise modify amortization of the sums seturcd b~• thit Mortgage by reason of any demand made b~• the original Borrow•er and Borrowers s~iccessors in interest. it. Forbearance by I.eader 1`ot a Wai~•er. Any forhearance !?y l.ender in erercising any right or remedy hereunder, or oiherwise ~fTordeci by applicahle law, shall not he a waiver of or preclude the exercise of a~y such right or remedy. Thr procurement of insurance or the payment af tases o~ ather liens or charges by i.e~der shall not be a waiver of Lender's right t~ aceelerate the maturity of the indebtednecs cecurcd hy tF?ic Mortgage. t2. Remedies Cnmulatire. A11 remedies pmrided in this Mortgage are distinct and cUmulative to any other right or reme~y under this Mortgage or afforded hy law• or equity. and may t~e exercised concurrenNy. independently or successively. 13. Successors and Assigns Bound: ]oiM and Several I.iabilify; Captions. The covenants and agreements herein contained chall hind, and thr riRhts hereunder shall in~ire to, the respective succecsors and as~tigns of Lender and Borrou~er, ' subject to the pravisiopc of paragraph 17 hercof. Al! covenanls and agrecments of Borro~•er ~hall be joint and several. The caplions and headings of the paragraph~ ~f thic Mortgage are for convenience only aad are not to be used to interpret or define thc provisions heceof. . 14. tiotice. Except for a~y notice rcquired u~der appticable law~ to be given in another manner. (a) any notice to Borruwer provided for in this Mortgaee shall he gi~~en b~~ mailing such notice by certified mail addressed to Borrower at ~ thc Property Address or at ~uch o~hcr address as Bormw~cr may designatc by noUCC fo i.enJer as provided herein, and " (hl am• notice to Lender shall be gi~•en b}~ certifx;d mail, return receipt requested. to i.enders address stated herei~ or to such ~~ther address as I.ender ma}• dcsignate b~• notice to Borroa•cr as pro~•ided herein. Any notice pmvided for in this \ic?rtgagc sh~ll he deemcd to hati•e becn given lo Bormu•cr or 1_cnder when given in the manner designated herein. 15. Uniform MoetRage: Governin~_i.aw; Se~•erabilit~•. Thic form of mortgage combines uniform covenants for national use and non-uniform rnvenants with limite~l ~•ariations h~~ jurisdiction to co~stitute a uniform security instrument covering rcal- property. This Mortgage shall be governed h~• the faw• of the juricdiction in which the Aroperly is I~xated. In the event ~h~t any provision or clause oF this Mongage ~rr the Note conflicts ~ith applicable lav~, such conflict shall not afiect other provisions of ~his Mortgage or the Note which can t+e given effect without the conflicling provision, and to this cnd thc provisions of the Mortgage and thc Notc'arc Jcclarcd to bc ceverable. 16. Borrov~er's Copy. Borrow•er shall be furni~hed a conformed copy of the Note and of this Mortgage at the time of ezecution or after recordation hereof. 17. Transfer of the Propert,r. Assumptioe. 1f all or am• pan of the Property or an interest therein is sold or transferred by Borrower without Lender's prior wriuen consent, e~cludiog lal the creation of a lien or encumbrance subord'rrtate to this Mortgage. (bl the creation of a purchase mo~e~• securitti~ interest for household appliances. (c) a transfer by devise, descent or hy opcralion of law~ upon the ckath of a joint tcnant or (dl the gram of an~• leasehold interest of lhree years or less not containing an option to purchase, 1_ender may, at Lender'~ option. declare all the sums secured b)~ this Mortgage to be immeJiatcly due and payable. I_ender ~hall have a~aived ~uch option to accelerate if, prior to the sale or iransfer. Lender and the person to whom the Propert~ is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory ta I_enJer and that the interest pa}~able on ~he sums secured by this Mongage shall be at such rate as Lender shall request. If t_ender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interest hac executed a written assumption agreement accepted in writing by Lender. Lender shall release $orrower from all obligations under this Mortgage and the Note. If I_ender exercises siich option ta accelerate. I.ender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. Such notice shall provide a perial of not less than 30 days from the date the notice is mailed within which Bormwer may pay the sums declareJ due. If Borrower faiis to pay such sums prior to the expiration of such period. ~ Lcnder may, withaut further notice or dcmand on 13orrower, ;nvoke am rcmedies permined by paragraph IA hereof. Nox-UN~FOeM CovEx~rrTS.~ Borrower and I_ender further cavenant and agree as fottows: 18. Accekntioa; Remedks. E:cept sis provided in paraRraph 17 hereof~ upon Borrower's breach of any corenaut or agreemeat of Bo~rower in t6is Mortga~e. includFn~ the covenants to psy wl~en due aey sums secored by t6k Mort~a`e, Lesder prbr to accekratao shaq mail notice to Borrower as pmvided in paragraph 14 6ereoE specifyi~: (1) tbe breach; (2) t6e actioa required to cure soeA brcscb; (3) a date. not kss than 30 dsys fmm tbe d~e the notice ts msikd fo $orrower, 6y whicb mcb breach must be cnred; aad (a) that faitnre to cure snch breach oa or before the date spec~ied in tbe ootke ~ns~ tesnh ia accekration of t6e sor~ sscured by this Mortgage. foreclowre by judfcisl proceedi~ and sak of the Property. 'IUe notice sball.furiber iaform Bomower of the right to reinstate aftrr accekntbn and tbe ri`ht to a~ert in t6e forec{osore prucee~~ the oon-e:~stence of a defaulf or ae~y dher defense of Borrowe~ to accekration and forecbsurr. if U~e breac6 is oot coned o0 or before t6e date specified io the aotice, I.ender at Leodtr's option may declare aU of tbe sams secnred by ihit Mottaase b be immediatdy due and p~yabk witlwut fur~6er demsnd and may forecbse tbtt MortSage by jodicial pruceedio~. I.eaber shap be entitkd to collect in snch proceedinq aU e:pensa of foreclosure. iacludiug. but not limited to, rcasoaabk attorsey's fea, aod costs of docu~eahry evidence, abstracts aod titk roports. 14. Borrowe~'s Ri~ht to Reinst~e. Notwithstanding Lender s acceleration of the sums secured by this Mortgage, Borrower shall have the right to have any proceedings begun by Lender to enforce this Mongage discontinued at any time ~ ~,.F~285 329 _ - - - _ _ _ _ ~