The URL can be used to link to this page

Home My WebLink About0956 , • . , .a' . l.cndcr's wtitten agreement or applicabk law. Borrower shal) pay tho amount of al) mortgage insurance premium: in the manne~ provid~~l u~der paragraph 2 hereof. Any amaunts dishursed by I.cnJer pursuant ta this pa~agraph 7, with intercst thereo~, shall l+ecome additional imleMedness of BarroN•er securrd by thic Morlg•rge. Unle~c Barrower anJ I.enJer agree t~ other terms of payment, such amcx~nts shal) be peyahle u~n nolirc fr~m I.cn~lrr to &~rmwcr requcsting payment thereof, and shal) hcar intercst from the date of disbursement at the rate payahle fr~~m time ta time on outstanding principal under the Nole unlesc payment of interest at such rate would be cantrarv a? applicable IaN, in which event such amaunts shall hear interect at the highest rate permissible under applicable law•. Nothing contained id Ihis paragraph 7 xhall require l.ender to ineur any e!cpense or take any action hereunder. ~ 8. laspeeliow. Lender may makr ar cau+r to be m•rde rea~onable rn~riec upon and incpectione of the Propeny, provided Ihat i.ender shall give Borrowe~ notice priar to an}~ surh inspection cpecifying rrasonable cause therefor related to Lender s interest in the Pmpert~. ~ 9. Condemastion. The pnxeed~ of any aNard or claim [or damages. direct or consequential, in rnnnection with any ~ condemnation or other takinR of the Property, or part t?~ereof, or for conveyance in lieu of condemnation, are hereby anigned ; and shall be paid to I_ender. In the event of a total takine of tl?c Pmpcny. ~hc pr<.rceds chall he applicd to ~he sums tecured by this Mortgage. with the ercess. if any, paid to B~~rrowe~. ln the event ~~f a pa~lial taking of the Propertt~, unlecc AormN•er and I.ender otherwice agrce in writing. there shall he applied tc? thr ~um~ securcJ h}• thic Mortgage cuch propc~rtion of the proceeds as ic equal to that prc?~nion Khich thc am~~unt ~~f thc sum~ urured hy thic \iortga~e immediatelt prior to !he date of taking bearc to the fair market value of the Pre~~xrl~• immcJiately prior to the date of taking, with the balance of the proceeds paid to Borrower. ~ if the Pro~xrt}~ ic abandoned by Borrower, or if. after nolice M i.ender to Borrower that the condemnor offers to make an aw•ard ~r cetde a claim for Jama~~~. B~~rmw•er fail. t~+ respond to 1_ender within 30 da~•s after the date such notice is ' mailed. 1.cnder ia authorized to collect and apph• Ihe proceeds. at l.ender's option, either to rest~ration or repair of the ' Pmperty or t~ ~hc sum~ sccurcd hy this ~lorteacc_ ~ Unlcsc Lender and Borrc~wer otherH~i~r aerer in uriting_ am• such application of prcxeeds to principal shall not extend or p~xt~nc the due ~'ase of thc man~hl~• in~lallmcnts referrcd to in paragraphc 1 and 2 hereof or change the am~unt of ~uch installmentc. . 10. Bonower Vot Released. Extensi~n of the ~ime for payment or modification of amortization of the sumc securcd by this Aiortgage granted by I.endcr t~• an~~ wcccc~or in intrretit of Borrawer ~hall not o~xrate to relcase. in any manncr_ the liabiliry of ~he originrt Borrower and B~~rmw•~r'. surresc~~rc in interest. I.enJer shall not he rcquircd tc• comin~n:•e proceedings against such succetsor or rcfucc to e~tend time for payment or otherw•i.c modify amorlizat~~~n ~f thr .+~ms cecured h~• thic Mortgage by reason of :~n~• demand made b~• the orieinal Borrower and Bortower s succe~sorc in ie~cre+t. 11. Forbearance by I.ender \ot a Waiver. :1m• G?rhearan~c hy l.ender in crercising any rieht or rcmed}• hemundcr. or otherwise afforded h~ applicahle law•. shall not he a v?ai~~er of or preclude the exercise of am~ such right or remedy. The procurement of insurance or the pa~ment of ta~es or other liens or charges b}• 1_ender shall not he a~aiver of 1_enders ~ right to accelerate the maturity of the indehtcdne~s :crurrd h~• thic Mortgage, ~ 12. Remedies Camulati~e. All rcmedies pr~.~ided in this \lortgage arc distinct and cumulative to an~• other rieht or ~ remed~• under this Mortgage or afiordrd h~~ law• ~•r eyuity. and ma~• be exerciseJ concurrently_ independenth• or suc~esci~•eh•. ; 13. Saccessors and Assi~os~Bound: ]oint and Se~era! i.iabilit~; Captio~n. Thc covenants and agrcement~ herein cor~ained shall bind, :~nd the riqhtc herLUnder ~hall inure t~. thc recpective soccetsorc and accigns of Lender and Bormwer. _ subjeci to the provision~ of paragraph 17 hereof. All cm•rnants and agreements of Borrov?~er shall be j~~int c~nd ~everal. i The captions anJ heading~ of ~hr para~raph. ~•f thi~ Mortgage are for convenience onl)~ ~nd are not to be oced to = i interpret or define thc provi~ion~ hercof. , ' 14. Notice. Exrept for am• noti:r rcyuirrd under applicable law• tu be given i~ another manner. (a) am• notice to &~rrower pro~ided for in this ~tortga~e .h~ll he grven hy~ mailing such notice b~• certified mail addresued to Borro~•er at the PropertY Addres~ or at such other a~k1rc~. as B~~rrower mav detignate b}• nolice to-I.ender as pmvided hercin. :~nd (bl any notice to Lenckr shall he gi~~n hc cer~ified maiL retum receipt requesled.-to l.enders adJress sta~ed herein or to ~ such other address as Lender may dccienate b} n~tire t~~ Bormw~er as pro~~ideJ herfin. Any n6tice provided for in this ; Martgage shall be deemed to havc t+~~n g~~•en to E3c~rrov?•cr ~r Lcnder w~hen given in-the manner designatcd herein. ~ ; l5. Uniform MorlRa~;a Gocernin~ IaN; Severability. Thic form af mortgage combines tFniform rnvenants for national t ! use and non-uniform co~•enantc uith limiteel ~•ariati~~ns hy juri~diction t~ constitute a uniform seciirity instrument rnvering f real properly_ This Morteage shall be govcrned h~~ thc law• of the jurisdiction in which the Properly is l~~:atcd. In ihe § event that any provision ~r clauce of thic 4tortga¢e ar Ihe Note conflicts ~•ith applieable law. such eonfliet ~hall not affect ~ other pnwisions of this Mortgage or ~hr \~~~t~ .ahinc ~~n be given elTect wi~hout the conflicting provicion, and to this ~ end the provi~ions of thc Mortgagc and the ~~~tc arc dcclare~i to be severable. ~ 16. Borrower's Copy. BorroHCr ~haN hc furni.hcd a conformed rnp~' of the Notc and of this Mortgage at the time ` of execution or after recordation hereof_ ~ 17. Transfer of the Propert~~; Ascumption. lf :ili ar an~~ pan of the Property or an interest therein is sold or transferred ~ by Borrower without I.enders prior writ~rn .~~n.cnt. r~rluding lal the crcation of a lien or encumhrance subor~iinate to ° this Mortgage. Ib{ the.creation of a ~ur:ha.a~ m~~n~~• Kcuril~ interest for household appliances. (e) a transfer M~ de~•ise. descent or by operation of law upon the Jcath of a i~~int tenant or (dl the grant of an~• Ieasehold intercst of threc }~rarc or lesc not containing an option to purchase. I.ender ma}~. at Lcnder', ~•ption. declare all Ihe sums secured by this '.Nortgage to be - immediately due and payable. Lender chall h~~c ~~an~cd tu~h option ~o accelerate if, prior to thc ~ale or transfcr. I_cnckr ~ ~ and the persc~n to whom the Property i, t~? tx .ol~f ~?r trancferrcd reach agreement in writing that the crcdit of ~uch petson ~ ia satisfactory ta LenJer and that.Ihe inter~.t pa~~able ~~n the sums se.:ured by ~hic Mortgage ~hall be at such rate a~ 1_cnder = shall request. If I.ende~ has waiveci thc option ta ~ccelerate pm~ided in this paragraph 17, and if Borrower', suceessor in ~ interest has executed a wntten assumption agreement accepted in w•ri6ng by I.ender. i.ender shall release Borrow•er from all : i obligatians under this Mortgage and the Note. " . If Lender exercises such option to accelerate. Lender .hall mail Borrower notice of acceleration in accordanrr ~~fi ~ paragraph 14 hereof. Such notice shall provide a Ex;ricxl e.f not Iess than 30 da)'s from the date the notice is mailed w•ithin E which Borrower may pay the sums declared due. If Borrower fails ~o pay such sums prior ~o the expiration of .uch peri.xi. ~ Lender may. without further nolice or demand on Kc?rrow•er. invoke any remedies permitted hy paragraph 14 hereof. ; ; Notv-UxtFOeM Covex~NTS. Borrower and 1_ender further covenant and agree as follows: ~ i ~ 18. Accekrstioa; Remedies. Except ~s pro.~ided in ps~raph 17 bercof. upon Borrower's breach of any cor•eaant or ~ ~ agree~ent of Borrower u ti~ Mortga~t. includi~ t6e covenanfs to pay when due aay snms secund by this Mort~age, I.ender ~ prior to scceleratioo sball mail ootke to Borrower as provided in paragraph 14 bereof sptcifyiog: (1) the brcach; (2) tbe action ~ reqaired to carr soc~ brese6; (3) a date, aot les t6an 30 days from the d'te the notice is malled to Borrower. by ~hich such breac6 mM be cered: and (4) ibat failorr.to cure sucl~ breach on or before tl~e date speci6ed ia the notice may resuit in ~ sccdc~atio~ of the s~as secored by t6is MortRage. forecbwrc by judicial proceedL~ and sale of the Property. 'Ibe notice - ~ shall fnrt6er infore~ Borrower of t6e ri~bt to rcinstate after accckratioe aad t6e right to assert in the foreclosure proceedi~ ' ~ We noe-existesce uf a defaWt or any otlicr dttense of Borrower to accekratioa and forecbwrc. if the bresc6 is oot cared on ~ p : ~ a before ~he dag speci6ed in t6e aotice. Lewder at I.ender's optioe may declue atl ot tt~e su~ secured by this Mortga~e to be . immediatdy d~e aa~ payable ~+'it~oat fnrther dem:+nd and mav forecbse t6is Mortss~e by jndicial proceedinR• Lender sh~ ? ~ be eatitied to coYeet iw s~cb prneeedio~ a9 e:penses of foreclosure, iacladin=, but sot limited to, rcasonable atturney's fees. ~ ~ aHd ¢osts of doc~sestarr e~ideace, ~bstracts and titk reports. ' 19. Eorrower's Ri~it to Reiastate. Notwithstanding I.ender s acceleration of the sums secured by this Mortgage, ; - Borrower shall have ihe right to have any proceedings hegun hy I.ender to enforce this Mongage discontinued at any time ~ ~ ~ ~ ~ bc ~K ~~rJ ,~aF~ 9~ - ~ _ -