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Home My WebLink About0711 a • i~ ~ • • ~ • l_ender's written agreement or applicable law. Burrowe~ shall pay the amount of all mortgage insurance premiums in thc manner provide~i under pa~agraph 2 hereof. ' Any amounts disburscd by Lender pursuant to Ihis paragraph 7, with interest thereun, shall bccome additiona) inJebtedness of Horrower securcd by this Murtgage. Unlc,~ Barrow•er anJ I rnder agrce to ather terms of payment, such amounts shall Ue payablc u~~o notice from Lcndcr to Borrov?rr reyurs~inF paymcm thcreof, and shall hear interest fmm the date of disbursement at thc ratc payahlc f~om timc to time on outstanding principal under the Nate unless payment of interest at such rate wouW t?e contrary t~ applicable law•, in K•hich event such amounts shall hear inte~est at the highest rate permissible u~der applicable law. Nathing con~ained in ~his paragraph 7 shall require Lender to incur any expense ot take any action hereunder. 8. Iaspeetion. i.ender may make or rausr tc? he made ma~onaMe entriec upon and inspectionc of the Property, provided thrt i.ender shall give Borrower notice prior to any such insFxction ~pecifying rcasonable cause therefor related to I_ender s intcrcst in thc Propcrty. • 9. Coademnation. The prc~ceed~ of an~• a~+•ard or rlaim fc•r damaees, dircet or concequential, in eonneetion with any condemnation or other taking of the Property, ur par: therei•f. i~r for ri~m•cyance in lieu of rnndemnation, are herchy assigned • and shall be paid to I.ender. In the event of a total taking of the Pr~~pcrt>•. thc pr.k~c.lc ~hall tx applicd to ~he ~ums sccurcd by thic Mortgage. with the ercess, if any, p:~id to Borrow•cr. In thc cvcnt of a parti~l ~aking o( the Property, unless Bormwc~ and I_ender otherwi~e agree in writing. there shall he applied tc~ thr .umc secure~l h.• thic I?~ortr~age such proportion of the proceeds as is equ:~l to that pro~rtion w•hich Ihe amount ~~f the sum~ .rcur~d b~~ thic Mc~rlgaee immediately prior t~• the date of ~ taking hears to !he fair market value of the Pro~rt~• immrdiatcl~• ~ri~~r to the date of taking, with the balance of the prcxeeds paid to Bormwer. If the Property is abandoned b~• Borrow-er. or if. after notice hy l.rndcr t~ Rorr~~wrr that the rnndemnur ofTers to make an award or settle a claim for dam~gct. Borrawer fail. t~~ rr.~x~nd ~0 1 ender within 3(1 da~•s after the c:~~e such notice is mailed. I_ender is authorized to collect and appl~• the proceeds. at l.ender'~ option. ~ither to restoratior or repair of the Propcn~• or to the sums ~rcurcd by this !~iort~taec. Unless Lenckr and $orrow~er otherN~isr agree in ~~ritin;_. am• ~urh applirati~n ~f pr~xeedc t~ princi~al shall not extend or postpone the due date of thc monthlp installmcnt. rcfcrrcd t~~ in paraeraph~ 1 and 2 hcreof or chanFc the amount af such installments. 10. Borrower Not Released. l:xtenaion of the tim~ for payment or modificatic.n c?f amortization ~f the sums ser.u?-ed b}• this Morigagc grrnted b~~ l.endcr t~• any ~urce~.or in im~rc.t of R~rrowcr .hall nrn opcrate to rclcasc. in any m.~nnrr, the liability of the original Borrower and Rorro~•cr'. si~cresu~rc in interest. l.ender ahall nut he required M rnmmence pmceedings against such succecsor or refute to e~tend time f~r pa}~mrnt c~r otherwice mc~difp amortization of the sums secured by this Morlgage by reason ~~f am• demand m;~de b~• the orieinal Rorrower :u~d B~•rrower s succeccorc in interest. 11. Forbearance by I.ender Not a Waiver. :1n~ f~~rFxaranrc h~• Lrndcr in crerci~ing an}• right or rcmedy hereunder. or otherwise affordeci by applicable law, chall n~t tx a wai~~cr ol ar preclude the e~ercise of an~• such right or remedV. The procurement of insurance or !he payment i~f ta~e. rr other lient or chargr~ b~• Lender shall not he a waiver of I_ender's right to accelerate the maturity of the indebtcdnea .crurcd h~• thic ~iortgagC. 12. Remedies Cumulative. All rcmcdics ~ro~ idcd in thi~ ~lortgagc arc distinct and rumulati~~e to am~ other right or reme~y under this Mortgage or atTordcd M~ law• or cyuit~~. anJ ma~~ be e~erciscJ rnncurrcnth•. independentl~~ or succeai~•ely. l3. Successors and Assi~qs Bound: ]oint and Se~eral I.iability; Captions. The ~m'enants and agrcements hcrein contained shall bind, and the riRhts hercunder sha11 inurc to. the rc~pective succe~.or~ and atsiens of I.ender and Borrow~er. subject to the provisions of paragraph 17 hcrcof. All ~o.~c~2ants_aml agreementc of BormH~cr shall he j~~int and ~everal. ~ . r _c .a._ .t:.. u......,..... .ci~. i..~ nlv •m~l ~n• nnl fn ~?P IKP(j fA . - ' .u.. ..........n:n..rn n ~ nc capuuna auu ncauu~g. ~n u~c ~~a~.,r~a~.~„ • - - interpret or define thc provisions hercof. 14. Notice. Except for any noticc rcyuir~d under applicable laN~ t~~ be given in anather manner. (al any notice to Borrower provided for in this Mortgaee sh~ll tx gi~•cn h~• mailinc tuch notice b~• rertified mail addre«ed -to Barrc~w•er at the Property Addrecs or at such other aJdrr.c ac A~~rr~~N~er ma~~ de~ign:?te M• n~tice t~ i.ender as pr~~vided herein. and ~ (h) any notice to Lender shall he giv~n M• certificd mail. rcturn recci{+t reque~ted. to l ender ~ adJress stated herein nr to such other addresc as I_ender may de~ienate b~ n~tirr t~~ Borr~•H•er as prrn~ideJ herein. Any notice provideJ f~r in this f Mortgage shall be deemed to ha~~e becn gi~•en to B~rr~~~cr or Lrndcr when gi.~en in the manner de~ignatcd herein. E r 15. UniForm MortR~e; Go~ernin~ I.aN; Se.erabilih. Thic f~rm of marteage combines uniform rnvena~ts for national use and non-uniform co~•enants w•ith limite.i variatiom h~ juritdirti~n to constitute a uniform securit~~ in~troment covering ~ real propert)~. This Mortgage shall be governed h~• the l:iw ~~f the juritdiclion in N•hich the Property is lckated. In the ~ event that an)~ provision or clau~e of thic 1~1~rtcagc ~~r thc N~.te r~nflict< <~ith applicahie law•. such conflict shall not affect ~ ather provisions of this Mortgage or the N„tr ~~hich c:+n tx zi~'en etfect without the canflicting pm~•i~ion, and 1a this ~ end the provisions of the Mortgage and thc ti~~ir arc .I~clared t~? he teverablc. g 16. Borrower's Copy. Borro~~~er shaU t+c furni~hed a ronf~rmed cop)' of thc Note and of thic Mortgage at the time ~ of execution or after recordation hereof. ; 17. Transfe~ of the Propert~•: Assumplion. If all ~~r an}• part of thc Pr~~Ex:rt~• or an interest thcrein ic s<.ld or transferrcd by Borrower without Lender's prior w•riuen roncent. e~cluding Ial the crcation of a lien or enrumbranre solx~r.linate to this ~iortgage. (b1 the creation of a purchace mi~ne~• wcurit~' interest f~r houcehold apptiances. (cl a tran~fer h~• devise. ~ descent ar by operation of law• upon the Jeath ~•f a j~~int tenant or ld~ the grant of am~ Ie:~sehold interest ~f threc }rar~ or Ies~ ~ not containing an option to purchase. Lender ma}•. .i~ I.rnder'. ~.ption. declare all the ,ums secured b~~ this ~lortga¢e to be ~ inmediately due and payahle_ Lender shall ha.e ~aivrd tiuch option to accelerate if. prior to the ~ale or transfer. Lender ^ and the person to whom the Property i; to be sol~l c.r trans(errcd reach agreement in K•riting that thc rredit of such person ~ i~ satisfactor~• to I_ender and that the interr~t pa~.~hle on the sumti secured hy thic Morteage shall be at such rate a~ Lender _ ~ shall request. 1f Lender has waived the option to accrlrrate pm~~ided in this paraeraph 17. and if Bormw•er's ~uccessor in interest has executed a written assumption aercement accepted in H•riting by I.en~er. [.ender shall relea~e Barrower from all ~ obligations unJer this Mortgage and the Note. If Lender exercises such option to accelerate. Lendcr ~hall mail Borrower notice of acceleration in accorJance w~ith ~ paragraph 14 hereof. Such notice thall pmvide a pc:rioci of not Icsc than 30 Ja)'~ from the date the notice is mailed within ~ which Borrower may pay the sums declared due. If Borrower failc to pay such cumc prior to the expiration e.f wch period.. ~ Lender may, without further notice or demand ~~n Norrower. invokc am- remedies pcrmitlcd h~~ paragraph 1 R hercof. ~ - ` Norv-UNiFORM Covev~tvrs. Borrower and Lender funher covenant and agree as follows: - 18. Acceleratbn; Remedies. Except ~s pro~ided in para~raph 17 hereof. upon Borrowe~s brcach of aay co~eaant or - ngreemeat of Borrower in this Mortgage. induding the co~•enanfs to pay when due any sums secured by thiS Mortgnge. T.e~der prior to accderation sball mail notice to Borrower as provided in paragraph i4 hereof specifying: (1) the breach: (2) Ihe actan ~ required to core sac6 brcach; (3) a date. not less than 30 days from the date tht notice is mailed to Borrower, by which sncb breach must be cnred; aad (4) that failure to cure such breach on or before the dste spec'd~ed in the notke mpy resdt in - accekration of t6e snmt secnred by lhis Mortgage. foreclosurc by judicial proceeding and sale of the Pmperty. 'ILe notice - shaD furtber inform Borrower of tf~e right to rcinstate after accele~tion and the right lo assert in the foreclosurc proceedi~ the non-e:istence of a def~uk or aoy other defense of Borrower to acceleration and foreclosurc. If the breacl~ is not cured on or beforc the dah specified ia the ooNce. Lender at Lende~s option may declare all of the saou secured by this Mortga~e to be immcdiatcly due and payabk without further dem~nd and may forcclose ti~ts Mortgnge by judicial proceedin~. Lender shall be eotitled to copM in socfi proceeding all e:penses of forcclosure. including. bot aot limited to, roasonable attorney's fees, ~s and costs of docnmeatary evidence, a6stracts and titk reporis. 19, dorrnner'a Ri6bt to Reinstate. Notwiths~anding Lender's acceleration of the sums secured by this Mortgage. Borrower shall have the right to have any proceedings begon hy Lender to enforce this Mortgage discontinued at any time ~ _ R z~s F~E 7os - su~~ ~