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Home My WebLink About0771 ; 1,~~ f J ~ ~ l.cnder's writlcn agreement or applicaMe l~w. Borrowe~,shap, pay the amount of alt mortgage insurance premiums in the ! mann~r providect undcr parag~aph 2 hereof. ~ ' Any amounts disbursed by t_cnder punuant to this paragraph 7, with intcrest thereon, shall bccome additional indeb~edness af Borrowc~ secured by ~his Mortgage. Unlcct Borrowcr anJ I.ende~ agrec to other tcrms of payment~ soch ~ amounts shall be payabk upcM na~ic-~ fmm I.cndcr to Borrowcr rcquesting payrttent thcrcof, and shait bear interest from the k date of disbursemeM at the rata payabte frcim timc to time on a~tstanding principal under the Note unless piyment of ~ intercst at such rate would be contrary to applicable law, in which event such amount: shall hear interest al the highest rate ~ pernnissibk unde~ applicabk law. NMhiog ccx~tained in this paragraph 7 shall require Lender to incur any expense or take any sction hereuader. 8. bspeeHoa. I.enckr may make ar cause ta be made reasanable en?ries i~pon and inspections of tho Prope~ty, provided ~ th3t l.ender shall give Borrower notice prior to any such ins~ection specifying reasanable cause therefor related to I.eoder's interesl io the Prop~rty. ~ 9• Cundemnatba. The prc~ceedc of any award or claim for damages, direct or.consequential, in canneclian with any ~ contkmnation or other taking af ihe Property, or pah therrnf, or for conveyance in lieu of candemnation, are hereby assigned and shall be paid to Lender. ~ in the event of a total taking of the Property. thc pnxee~h shall be applied to the sums sec~~red by this Martgagt. with the excess, if any, paid to B~rrowe~. In Ihc cvent of a partial taking of the Property, anlccs Borrower and Lender . ~ otherwise agree in wrNing, therc shal! be applied to the sums secureci hy thic Mortgage such proportion of the. proceeds as is equal ta that pmportion which the amount of the sumc secured by this Mortgage immediately prior to the date of taking bears to the fair market vatue of the Property immediately prior to the date of taking, with the balance of the proceeds paid to Borrower. it thc Propcrty is abandnned by Borrower, or if, aftcr notice by l.ender to Borrower that the condemnor offers to make an award or settle a claim for damages. Bonawer fails to respond to l.ender within 30 days after the date such notice is m,a~led, I.ender is authorized to collect and apply the prc~ceeds, at T.ender c option, either to restoration or r~epair af the Ptopeny ar to the sums sccured by this Mortgage. ~!nle,.s l.ender and Borrower othervvice agree in w•riting, an~• such applicatic?n of proceeds to principal shall nat extend or po~tpone the due date of the monthl~• installments referrcd to in paragraphc 1 and 2 hereof or change the amcu~nt of ~ such insta~iments_ 10. 8orrowsr Not Rekased. Fxtcnsion of thc timc far payment or modification of amortiza~ion of the soms sccurcd by this Mortgagt gran[ed by t.ender to any cuccecsor in intere~t of Borrow•er shatl not operate to rclease, in any manner. the {iability M the original Borrower and Borroveer's success~,rc in interest: I.ender shall not he rcquired to commence proceedings aRainst such successor or refux to ertend time for payment or otherwicc modify amortization oi the sums secured by this Mortgage by reason of an~• demand made by the original Borrower and Borrower s succestiarc in interest. 11. Forbearance by [.ender Not a Waiver. Am forhearance hy I_ender in e~cercising an~ right or remcdy hereunder, or otherwise afforded by applicahle law, shall not he a waiver af or preclude the exercise of any such rigM or remedy. The procurement of insurance or the payment of taxex or other liens_or charges by t_ender shall not he a warver of Lender s right to aecelcrate the maturity of the indeMcdness secured hy this Mortgage. l2. Retnedies Cnmulatire. 411 remedies provided in this Mortgage arc distinct and cumulative to any othcr right or remedy unde~ ihis Mortgage or afforded by law or equity. and may be exercised concurrently. independentt~• or succes.sively. 13. Saccessors and Assi~ns Bound; Joinl and Se~•enl I:iab~Ufy; Captb~. The. co~~enants a~d agrcements hcrein contained shall bind, and the rights hemunder sh•rll inure to. the res}~ective succes~rs and assigns of I.ender and Borrower. subject to the provicions of paragraph 17 hereof. All cavenants and agreements of Borrower shall he j~~int and se~~eral. "Il~e captions and headings of the paragraphe of this Mortgage are for convenience oniy and are not to he used to interpret or define'the provisions hereof. ld. NWiee. Eactpt for any notice rcyuired under applicable law• ta be given in another manner, (a) any noticc to Borrower provided for in this Mortgaee shall lie givcn hy mailing such notice by certified mail addrecsed to Borm~•er at the Property Address or at such othcr addrec~ as Bc?rmWer ma~• designate by notice to i.ender as provided hercin, and (b) an~• notice to Lenc.'er shall he given by certified mail. retum reecipi requested. to i.ender s address stated herein or to such other address as Lender may desig~ate by notice tc. Barmwer as pro~~ided herein. Any notice provided for in this Mortgage shall be deemed to ha~e been given to Borrower or l.rnder when given in the manner designated herein. t5. Uniform Mort~a~e; Governin~ Law; Severs~bilily. This form of mortgage combines uniform covenantc for national use and rton-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real propeny. This Mortgage shall be gove~ned by the law of the jurisdiction in which the Property is located. In the event Ihat any provision ar clause of thic Mortgage ar the Note conflicts with applicable law. such conflict shafl nat affect other provisions of this Mortgage or the Note Khich can be given effect without the cortflic~eng provision, and to ihis ertd ihe provisions of the Mortgage and the Note are dcclarcd to t~e severable. 16. Bomower's Copy. Borrower shall be furnisheJ a conformed copy of the NMe and of thi~ Mortgage at the time of execution or after recordation hereof. I7.. Tnasfer of ti~e Property: Assumption. If all or any part of the Property or an interest therein is sald or transferred by Borrower without I.ender s prior written consent. excluding (al the creation of a lien or encumbrance suhorJinate to this Mortgage:. (b) the creation of a purchase mone~~ securit}• interest for household appliances, (cl a transfer hy devise, descent or by operation of law upon the death of a joint tenant or (d) the grant of any (easehoid interest of threc ycars or less not containing an option to purchase, tender may, at I_enders option.,declare a!1 the sums secured by this Mortgage to be immediately due and payable. Lender shall have w~i~-ed 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 satisfactory to Lender and that the interest payable on t6e sums secured by this Mortgage shall be at soch rate as Lender shalt request. if I_e~der has waived the optiun to accelerate provided in this paragraph 17, and if Borrower's successc?r in . interest has exocuted a written assumption agreement accepted in writing by I_ender, Lender shall release Borrower from all ' obligations unde~ this Mortgage and the Nc~te. . If Lender exercises such option to acceterale, Lender shatl mait Borrower notice c~f acceleraiion in accordanrr W~ith paragraph 14 hereof. $uch notice shall provide a period of not less than 30 days from the date the notice is mailed within which Borrower may pay the sums declared due. lf Borrower fails to pay such sums prior to the ezpiration of such period. Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph IR hereof. NoH-UNtFOai?[ CovEN~xTS. Banower and Lender further covenant and agree as follows: ~ 18. Accderatios; Remedies. Escept as provided in paragrsph 17 hereof, npop Borrnmer's bresch of aoy co~eoant or a6reeateat of Eorrower ie tris Mort~aae, iacindin~ t6e covensats to pay when due any snms fecured by ti~ Mortga~e, Ltader prior to accekratioa s~aU ma8 notke to eorrower ~s provided Ie pars6rap6 141etseot specifyio~: (1) tAe breacb: (2) t6e actioa rtq~irei b care soc~ breac~,(3) s dste, sd lese dw 36 days from tiie date tbe notice is ~ to Bo~mwer, by wbic6 snc6 breacl~ mwt be e~rsd; aed that hilare to curo soch breac6 oe or 6efore tbe date speei6cd ia the notjce may resalt in aecdetat~ of tbe s~as scc~red by this Mort~ase, forcclosnre bl' jadicial Proceedtu~ asd aale of tbe Prvperfy. 'Ibe ootice shaY brtlKr i~toria ~ocrnwer of tie ri~IK to t+eisstate after secekratjoa aad d~e r~t b ~seert ia. tbe foreclosare P~~6 !ie ~oa-ez~teaee of s def~lt or aq dher defeosc of liwrower to accderatioo aad foreciowre. 1f tbe brescM is sot cored oa or 6dore tbe'daEe qiec~ea ii ttie oMice. Leeder sl Lender's optjoe mry decttre a~ ot tre sass serared br t6is Mort~e b be ~ma~ateiy dne aad pyabk witb~t fnrtber demaad and may foreciose tii Motl~a6e bl' jrdicial Proeeed~. Lender s~ be ~ to co~ert 6 mci prueeedio~ aY erpeosa of foreclostirr, Ieclediij, 6rt iot ~mitd to, reatooable sttoroey's fea, asd casb of doers~estary e~i~e~ce, a6Nracb aod titk reporta. ~ l9. 1o~~'s RI~t to Rdertsta Notwithstanding Lender's acceleration of the sums secured by ~ this Mortgage, Borcawa shall have the right to have any proceedings begun by l.ender to er?force this Mortgage discontinuod at any time r? c 28'1 Pi6E 7~ . o00K ~ . , _.y.-: - ~'~Y 4._. J r ~ . . . ' ,