The URL can be used to link to this page

Home My WebLink About0366 Lender's written aarcement o~ applicable law. Borcow~c, sha11 pa~r the unount of all mongage insurance pnmiums in tbe maarte~ ~ovided under ara ~a h 2 ~ P P 6 P : 3 i.: t.' Any amounts disAuned by Lender pursuan~ to thit para~raph 7, with intetest thereon, shall become additional indebtedness of Borrowe~ securcd by this Mon~age.. Unless Borrower and l_enckr agree to other terms of paymsnt, such amounts shall be payable upoo notice ttom Lender to Borrowe~ requcsting payment thercof. and shall bear interest from the date of disburaement at the nte paysble from time tQ tirrk on out:tanding priocipal under the Note unless p~?ymeot ot ~ ~ intrrat at auch rate would be contrary to applicable law. in which event such amounts shall hea iM~t at the highest nte ~ permissibk unde~ applicable law. Nothing contained in this paragraph 7 ahall requiro Lende~ t~ incur ~ny expeitse or take any action hereuader. ~ S: [~Uoa. Lende~ may make ot cause to be made reasonable e~tries upon and inspections of the Property. provided ~ that Lender shall give Borrower notice prior to a~y such inspection specifying reasonabk cause therefor related to Lender's interest in the Property. ~ # 9. Coademnatbn. The prceeeds of any award or ctaim for damages, direct or consequential. in connection with any ; condemnation or other taking of the Property, or paK thereof, or for conveyance in lieu of condemnation. arc hereby assigaed { and shall be paid to Lende~. . ~ ~ In the event of a total taking of the Praperty, the procc~eds shall be applied to the suma securod by this Mortgage, ~ with the exccss, if any, paid to Borrowc~. in the event of a partiai taking af the Property. unless Borrower and Ltnder ! otherwise agree in writing. there ahall be applied to the sums secured by this Mottgage such proponion of the procecds ~ as is eqaal to that proportion which the amount of the sums ucured by this Mortgage immediately prior to the date of i taking bears to the fair market value of th~ Property immediately prior to the date of taking, with the balance of tht proceeds ~ paid to Bprrower. } If the Property is abandoned by Borrower, or if. after notice by Lender to Bort+ower that the condemnor offers to make 3 an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is ~ mailed, Lender is authorized to eoUect and apply the proceeds, at i.snder's option. either to restoration or repair of ihe ~ Propeny or tb the sums secured by this Martgage. ' Unleu Lender and Borrower otherwise agree in writing, any such application of proceeds ta principal sha11 not extend ~ or postpone the due date of the raomhly installments nfemed to in paragraphs 1 and 2 hereof or change tfic amount of such installments. ; Z0. Eorrower Not Reieased. Extension of the tirr~ for payment or modi}ication of amortitation of the sums secured i by this Mortgage granted by Lender to any successor in interest of_ Borrowcr shall not operate to release, in any manner, 4 the liability of the original Borrower aod Borrower s successors in interest. Lender shall not be reyuired to commence proce~dings against sueh successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in intercst. 11. Forbauaace by Lender Not a R?ai~er. Any forbearance by i.ender in exercising any right or remedy hereunde~, or otherwise a~ordod by applicable Iaw, shall not be a waiver of or proclude ihe exercise of any such right or remedy. The procureroent of insurance or the payment of taxes or other tiens or charges by Lender shall not be a waiver of Lender's right to accele~ate the maturity of tt~e indebtedness secured ~y this Mortgage. 12. Ren~edies ~mulatire. All remedies provided in this Mortgage are distinct and cumulative to any other right or f remedy under this Mortgage or afforded by law or equity, and may be exercised concurrentty, indepcndentty or auccessivety. ; 13. Ssceese~ors and A~as aonad: Jdnt aad Several i.i~Mlity; Capdons. The coveoants and agreements herein cont~ned shall bind. and tht rights hercunder shall inurc to. the respective successors and assigns of Lender and Borrower, s subject to the provisions of paragraph 17 hereof. All covenants and agreements of Bor~ower shall be joint and severat. 7he captions and headings of the .paragraphs of this Mongage are for convenience only and are not to be used to ± interpret or define the provisions hereof. • ? l•t. Notice, Except for any notice. required under applicable law to be given in another manner, (a) any notice t9 ' Borrower provided for in this Mongage shall be given by mailing such notice by certified mail addressed to Borrower at ; ~the ~;roperry Addresc or at such other address as Borrower may designate by notice to Lender as providoif herein. and ~ (b) any notice to Lendtr shali be given by cert+fied mail, return receepi rcquested, to I.ender's address stated herein or to i such ather address as Ixnder may cksignate by notice to Borrower as provided heroin. Any notice provided for in this i Mortgage shall be deemed to have been given to &?rrower or Lender when given in the manner designated herein. ~ ~ IS. Unifonu Mort~age; Gooernfn~ I.aw; Severability. This form of mortgage combina uniform covenants for national use and non-uniform covenants with limited variatior~s by jurisdiction to constitute a uniform security instrument covetiag ~ real property. This Mortgage shall be governed by the law of the jurisdiction io which the .Property is located. In tt~e ? event that any provision or clause of this Mortgage or the Note conflict"s with applicable law, such conflict sball not affect 3 other provisions of this Mortgage or the Note which can b~ given effect without t~ conflicting pr~nvesioa; and to this - # end the provisions of the Mortgage apd the Nott are declared to be severable. ; 16. eon~uwer's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time of eaecution or after recordation hereof. . 17. Transfer of tie Pruperty; Assnmption. If all or any parE of the Property or an interest therein is sold or transferred by Borrower witho~t Lender'a prior written consent, excluding (al the creation of a lien or encumbrance subordinate to this Mortgage, (b) the creation of a purchase money security interat for household appliances, (c) a transfer by devise, descent ot by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of ihree years or less not containing an option to purchase, Lender may, at Lender's option, declare all ttie sums secured by ihis Mortgage io be imtnediatety doe ared payable. Lender sha11 have waived such option to accelerate if, prior to the sale or transfer, Lender and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person is :atisfactory to L.ender and that the interest payable on the sums secured by this Mortgage shall be at such rate as LeRder , shall request. If Lender has waived the option to accelerate provided in this paragraph 17, ~and if Boriower's successor in interest has eaecuted a written a~umption agreement accepted in writing by I.ender. Lender shall release Borrower from all obligations under this Mortgage and the Note. Jf Lender exercises such option to accelerate, Lender shaU mail Borrower notice of accekration in accordance with ~ paragraph-14 hereof. Such notice shali provide a period of not less than 30 days from. the date the notice is mailed within F which Borrowar may pay the sums dxlared due. If Borrower fails to pay such sums prior to the expiration of :such period, Lender may, witbout further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof. Norr-UNtFORUt Caververrr~. Borrower and Lender further covenant and agree u follow~: !8. Acederatlo~ Remedia. Escept as provided io parasraph 17 hereof, npoo Borrower's breacL of an~ co~eoant or ~ qrecmeot ot Dorrower ~ this Morqa~e, lndedin~ tbe covenants to pay w6ea dee sny snms secored by thb Mort=~e, i.eader j prbr to secderatb~ ~6~H mail ootke to Eorrower a~ pro~ided i~ ~tap6 l4 6ereof ~pec~s (1) t6e brdicb: (2) tbe actio~~ ; reqairsd to c~ue sscL bnacr: (3) a d~te, oot le~s tl~ta 30 days fro~a t6e dste t~e eotice !s msikd to Borrower, by w6kb su~ ~ ~ prticb ~oM be c~red; ~md t6at ta~re to cure q~cb breach oa or before t6e date speei8ed ie tbe aotke ~aa~ radt in ~ ~ d 16e soms iecarsd by t13s Mo~e, forecbwro by jadkid Proceedloi aoa sde ~ t6c Propc~. 'Itie notice f shaY tarWer I~form Borrower of tbe ri~~ to reinstate aEta accckrNioe aad tre ri~t to arert ia tbe forecloatre ; f6e aoo-e~teece d a de[adt or ao~ od~er defer~e of Ilomower to acrtlenNios snd forcclosute. tf We breac~ Is oot~ ± or belore t~e ds~e spa~ed ia t6e sotice, Leader ~t Le~der's option may ~ a~ ot tbe mms ~ by t6b Moetsa~e to be immaWt~ dre aed p~yabie wkhoot tartbtr demaod and may foreclose t6is Mort~e by jedkW proceedios. Le~der sha~ ~ be eyitkd to coUect ta wch Prnceedioi dl espea~a ot foreclosure, inciudin~, b~rt aot ~mited to, reatooabk attonef's fea, ; ~ ~ cosb ot doc~tary erideoce, ~tr~cb aod tkle rrp~rls. ~ l~. Homuwa's Rt~t to lte~ttate. Nohvithstanding Lender s acceleration of the sums secured by this Mortgsge. 4 Borrower s h a l l have t h e ri g ht to have any proceedings begun by Lender to enforce this Mortgage discontinued at anq timt ~ ~ ~ $ooK 287 P,~ 364 - ~ - _ _ ~ ~ ~ : ~ - - . , LL A _ ~,r-~;