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Home My WebLink About0005 \ , ~ ~ . ~ . l_ender's written agrtieme~l o~ applicabk lew. Borrowe~ shall pay the unount of all mortgage insurance premiums in the manne~ providcd under paragraph 2 hereof. Any amounis disbursed by l.emler pursuant to Iha paragraph 7, with interest thercon, shall become additianal indeb~edness of Borrawer secured by ~his Mortgage. Unlezc Borrower anJ I.enJer agree to other tertns af payment. such amounts shal) bc payable upon noticc from I.;.ndcr to Borrowcr requcsling paymcnt thercof, and shal! bcar interest from the date of disbursement at thc rate payahlc from timc ta timc on outstanding principal under the Note unless payment of intercst at such rate would be contrarv to applicable law, in wbich cvent such amounts shall bear ioterest at the highest rate peRniasible under ~pplicable law. Nothing contained in this paragraph ~ shall require i.ender to incur any expense or take any action hereunder. . ~ 8. ~s~:il~a. i~a~lcr may m;~k~ .~r:ai~s~ to!?c ma:lc r~n;:,~~ab0., ~nir+cc z:~n and ias~cti~zs of ihc Pr~~secty. ~mYided that I.ender shall gi~~e Borrower ~otice prior ta any sucfi ins~ection specifying reasonable cause therefor related to I_ender's interest in the Pmperty. 9. Coademaatbn. The prcxeedc of any aw~ard or claim for damages, direct or concequential, in connectiem wit}i any condemnation ar other taking of the Property, or part t~ercof. or for convevance in lieu of condemnation, are heteby assigned and shall be paid to I.cnder. . in the event of a tatal taking of the Pmpeny. the pnxeeds ahall he applied ta the sums secured by thic MaKgage. with the e?ccess, if any, paid to Borrowe~. in the event of a partial taking of ~he Property, unlecc Barrower and I_ender olherwise agree in writinp., there shall be applied to the ~ums secured b~~ thiz Mortgage such proportion of the proceeds as is equal to that proportion which Ihe amount of the sum~ sccurcd by this Mortgage immediatel~~ prior ta the date of taking bears to tha fair market.value of the Pmpeny immcJiately prior to the Jate of ~aking, with the halance of the proceeds paid to Borrowe~. - if the Property is abandoned by Borrower, or if. afler netice by [.ender to Bormwer that the condemnor ofien to make an award or settle a daim for damages, Bc?rrowef faih Io res~nd to Lender a•ithin ?0 day~s after the date such notice is mailed. [.ende~ is authorized to collect and apply ~he prc~cecds, at f.ender's option, either. to restoration or repair of the Propeny or to the sums securcd h~ . this Mortgage. ~ Unless I.ender and Borrovver otherwisc agrce in Hriting: an~• such applica~ion of prc~ceedx t~~ principa! ~hall nM extend or ~st~ne !he due date of the monthly ins[all~ncnts referrrd ta in paragrapfis 1 and 2 hereof or change the amount af such installments. 10. Borr~,wcr Not Released. Extension of the time for payment or modification of amortization of the sum~ secured by this Mortgage granted by I.enJer to any succes~~r in interect of Borrow•er shall not operate to rclease. in any manner. the IiabiSity of the original Borrow~er and B~~rrower's su:cessort in interest. [.ender shall not he rcquired to commencz - procteJin~es against such successor ar refuse to e~tend time for payment or othen~•ice mc~dify amortization of the sums secured by this Mortgage by r~eason of an~~ demand made b~• Ihe nrieina) Borrower and Rorrower s succescorc in interest. ll. Forbearanet by I.ende~ Not a Waiver. An~• fnrhearance hy T.ender in exercising any right or remedy hereunder, or athen~vise afTorded by applicable law, shall not t?e a.waiver of or pr.eclude the exercise of an}• such right ar remedy. The proci~rement oi insurance or the payment of taxes or other liens or charges by I.ender shall not be a waiver of I.ender's right to accelerrte the maturity of the indebtedness cecured hy this Mortgage. 12. Remedies Cumalati~c. All remeJies provided in ihis Mortgage are distinct and cumulativc to anp ~~ther right or remeJy under this Mortgage or afforded h~ law• or equity. and ma~• be exe~cised concurrcntly, independentl}• ar sucretisiveh~. 13. Succes:ors and AssiRns Bound; Joint and Se~~e~l I.i~billty; Captions. The covenants and ag~ccments hcrein - contained shall bind, and the rights hemunder shall imire to. the rcspective successors and acsignc of 1_ender and Bo~roK•er. subject to the provisions of paragraph .17 hereoL All cmcnants and agreements of Borrower shall be joim and teveral. The captions and headings of the paragraphc of_.thic Mortgage are for cnnvenience ~nly and arc not to he uced to interpret or define ihe provisions hereof. ~ , 14. NMict. Except for any noticc reyuired under applicable {aw• to be given in another manner. (a) any notice to Borrower pmvided for in this Mortga¢e shall he given by mailing such notice by certified mail addresced to Bormwer at the Propeny Address or at such other addrets as Bi~rroveer ma~• designate b~ notice to I.ender as provided herein. and (b) any notice to Lender shall he given b}• certifkd mail, retum receipt requested. to l.ender ~ address stated hcrcin or to such other addres~s as Lender may designate b~• notice to Borrawer as provided herein. Any notice pmvideJ for in this Mortgage shal) be deemed to Have been given to Borrower or I.cnder w•hen given in the manner designated herein. 1S. U`nifesm_ Mortga~e: Governi~ Iaw; Se~•erability. This form of mortgage combines anifornt covenants for national use and nan-unitornt crnenantc ~imrteJ variations b~• jurisdiction to coi~stitute a uniform sec?irity instrument covering ~eal property. This Mortgage shall governed hv the iaw- of the jurisdiction in which the Property i~ Iocated. In the ; event that any provision or clause of tn~. Mortgagc ~.r the Note conflicts ~•i~h applicable law, such conflict shal) not affect i other provisions of this Mortgage or the Notc which can be given efiect without the conflicting pmvi~ion, and to this E end the provisions of the Mortgage and the Nate. arc Jcclared to he severable. ~ 16. Borrovrer's Copy. Borrower shall be furniched a conformed copy of the Note and of thic 111ortgage at the time ~ of execution or after recordation hereof. 17. Traasier of t6e Propetty; Assumption. If all or anY part of the Pmpeny or an interest thcrcin is sold or tran~ferred ~ by Borrower without I.ender's prior written consent. excluding (al the crcation of a lien or e~cumbrance subordinate to ~ this Mortgage. (b) the creation of a purchase mnney cecurih• interest for household appliancc~. (e) a transfer h~• devise, = descent or by operation of law upon the dcath of a joint tenant or (d) the grant of any~ leasehold intercst of threc ycars or lcss not containing an option to purchase. I_ender may. at Lender'c option, declare all the sums secured by this \lortgage to F?e ~ immediately due and payable. l.ender shall have W aived such option ~o accelerate if, prior to the cale or transfer. i.endet and the person to whom the Property ic to t?e sold or transferred reach agreement in writing that the credit c~f such person is satisfactory to i.ender and that the interest payable on the sums secured by thi~ Morteage chall~be at such rate as I.ender ~ shall request. Tf Lender has waived the option to accelerate provided in this paragraph 1%, and if Bortower's successor in i interest has executed a written assumption agreement accepted in writing by I.er~eier, Lender shall release Borrower from all obligations under this Mortgage and the Note. - ` If. Lender exercises such option to accelerate. LenJer shall mail Borrower notice of accelera~ion in accordancr ti•ith ~ ~ paragraph 14 hereof. Such notice shall provide a pericxl of not less~than 30 days from the date the notice is mailed within ~ ~ which Borrower may pay the sums declared due. 1f Borrow•er fails to pay such si:ms prior to the expiration of such period, Lender may, without further notice or demand on t~rrower, invoke any remedies permitt~d by paragraph 1R hereof. ; 1 ~ NoN-UxtFOitM CovexeNTS. Borrower and Lender further covenant and agree as follaws: ~ % t i8. Acederatio~; Remediea. E:cept as provided in para~raph 17 hereof~ upoo Borruwe~'s breach of any coveaant or ~ ~ a~reeme~t ot Eorrower ia t~ Mo~age, includia~ t6e co~eaants to pay when d~e any mms secnred by thb Mort~a~e. I.coder ~ prjo~lo scceieratio~ s6a~ o~a8 sotke to Eorrower as pro~ided tn pa~rapb 14 hertof specif~: (1) t6e breac6: (2) tbe actioa ~ ~ rsqaired to care wc6 bresc6; (3) a date, not less t6an 30 days fmm t6e date t~e notke ia m~ikd to Bormwer. bp which sucb ~ ~ breacti rowt be cored; a'd (4) th~ failare to cdre svcb brac6 oa or before the date ~peci6ed ia the notke may resdt in ~ ~ accderatio~ ot tbe srms secored by t6is Mort~e, forrcbsurc by jndicial.pmceedi~ aad sale of tbe Property. 7be aotke sbaY frrtber isfors Eorrower of tbe rigbt to rci~tate dter aecekration and tlie ~6t to isse~t ia R6e forecfowre pruceedh~ ~ tre aoo~e:istesce ot a defsolt or aay otber deiense of Dorrower to sccekrstion aad foaclowre. K tbe 6rescb is eot cared oo ~ or before tbe date spec~e~ i~ tbe noliee, Lender a1 Leader's o~ion mar declu+e a~ oE the soo~s aectred by t6is Mort~a~e M be ' ~ ime~atdy doe asd p~ra6ie wit6oot furiber dem:ad aad may forec{ose t6i~ Morl~e 6y jndkid proceedinqC• Lcnder shall be ea~led to c~et L s~ci'roceedioe aY e:pcases of forecbsare, iidrdio~, bat wt li~dted to, reasoaabk attoraey's fees, ~ aod oo~s ot doc~~eatary e~Wesce. s~6stracb aad title reporls. ~ l9. Sonowar'! Rl~it to Reirtate. Notwithstanding Lender s accekration of the sums secured by this Mortgage, , Borrower shaU have the rig6t to have any procadings begun by Lender to enforce this Mortgage diuontinued at any time ~ ~ ~ ~ Bu~K~~O VAGt 5 ; ~ : : , . _ -