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Home My WebLink About0242 fi . l.cnckr's written ag~ement or applicable law. Borruwer shall pa~• the amount of all mortgage insu[ancc premiums in thc ~ manner p:ovided under paragraph 2 hereof. _ Any amounts disbursed by I_ender pursuant to this pa~agraph 7, with intcrcst thereon, shalt becomc additional inJeb~edncss af Borrowe~ sec:ured by this Mortgage. Unlcss Borrow•er and I.enJer agrce to othe~ ternns of payment, such amounts shall bc payable upon noticc (ram Lender to Borrower rcquesting payment thcreaf, and shall bcar interest from the date of disbursemcnt at the rate payabk from time to timc an outstanding principal under ihe Note unleu payment of interest at such rate would be coMrary to applicable law, in which event such amounts shall bear inte~est at the higfiest rate permiuible under applicable law. Nothing contai~td in this paragraph 7 shall require I.ender to incur any expense or take any actio~ hereunder. ~ 8. Iaspectbn. i_ender may make or cause to bc madc rcaconablc ent~ics upon and inspectians of the Aropeny, provided that Le~der shall give Borrower notice prior to any such inspection specifying rcasonable cause therefor related to I.ender's interest in the Properry. 9. Coademnatbn. The proceedc of any aw~ard or claim for damages, direct or conxequential, in connection with a~y condemnation ot other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned ~ and shall be paid to Cender. in the event of a total takinq of thc Property. the pra:eeds chall bc applied ta the ~ums sccured by this Mongagc, with the excess, if any, paid to Borrow^er_ In the event of a pa~tial taking of the Property, unlecc Borrower and Lender otherwise agrce in writing. there shall be applied to the sums securcd by this Mortgage such proportion of the proceeds as is equal to that proponion which thc smount of the sums secured by this Mortgage immediately prior to the date of , taking bears to the fair market value of the Propeny~ immediately prior to the date of taking, with the balance of the proceeds ' paid to Borrower. If the Praperty is abandoned by Borrow~er, or if, after nMice by I.ender to Borrower ihat the condemnor offers to make an aw•ard or settle a claim for damages, Borrower fails to respond to [.ender within 30 days after the date such notice is mailed. Lender is authorized to collect and apply the proceedx, at i.ender's option, either ta restoration or repair of the , Propeny or to the sums secured 6~• this_ MortRage. _ ~ Unless 1_ender and Borrow•er otherwise agree in H•riti~g. am• such application of proceeds to principa) shal) not eatend $ or postpone the.due date of the monthly installments referrcd to in paragraphs 1 and 2•hereof or change the amount of e such installtnents. ti 10. Borm~re~ Not Rekased. Extension of the time for payment ar modification of amortization of the sums secured by this Morigage granted by I_ender to any successor in interest of Barrower shall not operate to release, in any maAner, , the liability of the original Borcower and E~rrowe~ s successe~rs in interest. I_ender shal) not be required ta commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this I4(ortgage b~ reason of anp demand made by the original Bormwer and Borrower s successors in interest. ll. Forbearaace by I.ender Not a Wai~er. An}• forbearance by 1_ender in exercising any right or remedy hereunder, or f othervvix afforded hy applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. ~ The procurement of insurance or the payment of taxes or other liens or charges by I.ender shall not be a waiver of Lender s ~ght to accelr-~itc the maturitp of the indebtedness cecured hy this Mortgage. 12. Re~~,lies Cumulative. ~111 rem~di~s pro~~ided in this Mortgage are distinct and cumulative to any other right or ~ remedy un~gr this Mortgage or afforded by law or equity. and ma}• he exercised concurrenUy. independendy or successively_ x 13. Snccessors and Assigns Bound; Joint and Several i.iability; Captions: The covenants and agreements herein ~ contained shall bind, and the riRhts hereunder shall imire to, the respective successors and assigns of Lender and Borrow~er, subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several. "i7~e captions and headings of the paragraph, of this Mortgage are for convenience only and are not t~ be used to interpret or define the provisions hereof. . 14. Niotice. Eacep( for any notice required under applicable law~ to be given in another manner, (a) any notice to Borrower prov;ded for in this ~tortgage shall he given by mailing such notice by certified mail addressed to Borroa~er at j the Property Addresc or. at such other address as Borrower may designate bt• notice to T_ender as provided herein, and t (b) any nMice to Lender shall be given by certified mail, return receipt requested, to I.ender s address stated herein or to ~ sach other address as Lender may designate by notice .to Borrower as provided herein. Any notice provided for in ihis ~ Mortgage shaU be deemed to ha~•e been given to Bormwer or. ixnder when given in the manner designated herein. ~ ~ ' IS. Uniform Mortga~e; Governin~ Law; Se~•erability. This fc?rm of mortgage combines uniform covenants for national ~ , use and non-uniform covenantc with limited variations by jurisdiction to constitute a uniform security instrument covering i I real property. This Mortgage shall be gbverned hV the law of the jurisdiction in which the Property is located. In the ~ event that any provision or clause of this Mortgage or the Note conflicts w•ith applicable law. such conflict shal) noC affiect ~ ; other provisions of this Mortgage or the Note which can be gi~~en effect without the conflicting provision, and to this ; ~ end the provisions of the Mortgage and the ?~Mr are declared to bc severable. i ; 16. Borrower's Copy. Borrow•er shall be furnished a conformed copy of ~he Note and of this Mortgage at the time t of execution or after recordation hercof. ` ~ 17. Traasfer of t6e Propert~: Assumption. if all or an~• part of the Property or an interest therein is sold or transferred ~ f by Borrower without I.ender's prior writtrn consent, exduding (al the creation of a lien,or encumbrance subordinate to ~ ~ this Mortgage. (b) the creation of a purchase mone} security interest for household appliances. (c) a transfer by devise. # ~ descent or by operation of law upon the drath of a joint tenant or ldl the grant of any leasehold interest of three years or less not containing an option to purchase, 1_ender may, at t_ender's option, declare_all the sums secured by this Mortgage to be immediately due and payable. Lender shall have w•ai~ed such option to accelerate if, prior to the sale or transfer. Lender . and the person to whom the Property is to be sc?1d or transferred reach agreement in writing that the credit of such person " is satisfactory to LenJer and that the imerest payable on the sums secured by this Mortgage shall be at such rate as Lender ~ shall request. If I_ender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interest has executed a written assumption agreemeot accepted in wr+ting by Lender, Lender shal! :etease Borrower from all obiigations under this Mortgage and the Note. If Lender exercises such option to accelerate. i_ender shall mail Borrower notice of acceleration in accordance with ` ~ paragraph 14 hereof. Such notice shall provide a perioci of not less than 30 days from the date the notice is mailed within ' w~hich Borrower may pay ihe sums declared due. if Borrower fails to pay such snms prior to the expiration of such period, Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof. ~ ~ NoN-UN~FORt.t Covex~twrs. Borrower and 1_ender further covenant aod agree as follows: 18. Acceleratioo; Remedks. E:cept as provided in. paragraph 17 hereof, upon Borrower's breach of any covenaot or i ~ ~reemeot of Borrower in t6ts Martgs~e, ioclndi~ the covenants to pay when dne any sums secnred by this Mortgsge, Leoder s ~ prbr to sccekratbn a6a11 mail notice to Rorruwer at provided in paragraph 14 hereof specifyfng: (1) tbe breach; (2) tbe actlon requLred to cm+e suc~ 6reacb; (3) a d~e, oot kss t6an 30 daps from the d~e the ootice b mailed to Borrower, by whic6 suc6 breac6 mmt be cared; aod (4) thst failnre to cure snc6 breach on or before t6e d~e specl8ed ia t6e ootke may resalt ia ~ accdendon ot We sams secored by W~s Mortgsge, foreclosure by judicial proceedia6 aad sak of tbe Property. 1be nottce s6a11 furt~er infor~n Eorror?er of t6e ri66t to rei~tate after aecekMion aod tbe rlght to a~sert ia t6e foreclosare p~oceed~ tbe no~-e~tence of a defaolt or aoy other defense of BoROwer to scceleratbn aad foreelosare. If the bresc6 is not cured oa ~ or before ti~e date speci6ed in t6e ooHce, Lender at Leoder's optfon may declare ap ot t6e saa~s secored by this Mort6ase b be - ~ ~ Lnmedfstdy dne aad paya6ie wit6out fnrt6er demand and msy foreclose this Mortaase by jndkial proceedioa. I.ender s6aB ~ be eadded to collect b s~c6 proccedin~ as e~enses of forecbsure, inclndiu~, but aot limited to, reasoaa6le attor~ey's fees, ' ~ aBd COib O~ ~OlYml11~ lr~tRl't~ i~ifLS SIIa 1~~! Rp0~1S. - j 19. dorrower's Ri``t to Reiottate. Notwithstanding Lender s acceleration of the sums secured by this Mortgage, ~ Borrower shaU have the right to have any proccedings begun by Lender to enforce this Mortgage discontinuod at any dme ~ • ~ . ~ r141;c ~ ~ , ~.~~s~~~~~=;~~»~'~,~- . . - ~