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Home My WebLink About0498 . - . ~ , agrtement or applicable la~v. Borrower shaU pay the unou~t of all mortgage inwrance premiums in the man~er provided under ~puagraph Y hereoL Anr amounts disbuned br Lender purswnt to ti~is pi~c~gtaph 7. wi[h • interest ihereon, shali become additional in- debted~ess of Botrower secured by this Mortgage. Unleu $otroKer and L.ender agree co other terms of payment. wch aawunts ~ull be paya~le upon ~wtice (rom Lender to Borrower requesting pay~ne~t thereot. and shail beu interest from tht datc ot disbursement at the rate payable Irom time to time on outu~nding principal under tht Note unless payment of jnterest at such rate would be mntnry to applicable law, in which eve~t such amouots shall bear interest at the highest ratc permissible unda applicable larv. Nothing contained in this paragraph 7 shall require Lender to incur any expenx or take any action hereunder. S. Inspatjon. Lender may make or cause to be tnade rcawoable entria upon and inspections ot the Ptoperty. pro- vided that Lender shall give Borrower notice prior to anr such inspection speci[ying reasona~le uuse theretor related to I.ender': iatemt in t6e Psopaty. . . 9. Condeamation. 'The proceeds oI anY award or cla~m Eor damages. d:*•it or mnscquential, in connectio~ with anY condemnation or other aking o[ the Property. or put thereot, or [or conveyance in licu of condemnation, are hcreby as- ~ ~ -1 -L~~ L~ __!J 7 ~~J~ ' ~ • :iibiii~Y w.i:c s:.t~ ri~ii2 itD i~.:~iLt. In the event oE a total taking of.the Property. the proceeds shall be applied to the sums secured br this Mortgage. with the excess. ii any. paid to Borrower. In the event ot a partial taking of che Property, unless. Borrower and Lender otherwist a$ret i[~ M!*?tl~o; 4~~re shall be aonlied m the sums yrcured bv ~his Mortt~ge wch proportion o( the protteds a~ is equal to that proportion ~vhich the amount oE the smms secured br this Mortgage immeciiately prior to the date oE uking bears to the fair muket value of the Propeny immediately prior to che date o[ taking, rvith the balance oE tlie pto- cteds paid to Borrower. IE the Property is abandoned by Barrower. or if, after notice by Lender to Borrower thac the condemnor o[[era to make an arrard or xtde a claim tor damages, Borrower fails co,respond co Lender within 30 daya a[ter the date such notice is mailed. Lender is authorized to collect and apply the praeeds, at Lender's option, eithet to mtoration or np~ir ot the Propeny or to the sunu xcured by thi3 Mortgage. Unless Lender a~d Borrower othenvise agree in writing, any such appliation o[ praeeds to principal shall not extend or postpone the due date ot the monthlr insulltneots reftaed to in pangraphs 1 and Y hertot or chanqe the amount of such installments. 10. Sormwer Not Re~. Extension of the time tor payment or moditication of amortintion of the snms secured . by this Atortgage granted by Lender to any successor in inttrest oE Borrower sha11 not operate to release, in any mannet. the liability of the origi~ul Borrower and Borrower s suc.cesson in interest. Lender shall not be required to commence proceedings agai~st such successor or n[use to exeend eiane Eor paymene or otherwise modify amoreization oE the sums se- cured by this ~iortgage by reason ot any demand made by the original Bormwer and Borrower's successon in interest. 11. Forbearanoe by Lender Not a Wairer. Any forbeannce br l.ender in exercising any right or remedy hereunder. or othetwix afforded by applicable law, shall not be a waiver o[ or preclude the exercise of any such right or remMy. The pron?rement of insurance or the papment of taxes or other liens or charges by Lender shall not be a wairer of Lender's rigbc co acrtlera~e the maturitr of the i~debtedness sccured by chis Mortgaqe.• IL Recnedies C~imulati~e. All remcdies provided in this Martgage ue distinct and cumulative to anr other right or ~ recnedy under this riortgage or afforded by law or equity, and mar be exercised concurrently, independendy or successively. 13. Socceaors and Aa~igns Bound; joint and Several Liab~7iq; Captions: The co~enants and agteements httein mntained shall bind, and the rights hereunder shall inure to, the respective wccessors and assigns Qf Lender and Bor~ower. wbjett to the provisions o[ pangnph 17 hereof. All oovenanu and aqretments of Borrower shall be joint and several. "The captions a~xl headings of the paragraphs of this Mortgage are for convenience only and ~are not eo be used to intetpnt or define the provisions htseof. ~ 14. Notice. Except for any notice reqdired under applicable law to be given in another manner. (a) any notite to Borrower procided for in this ~tortgage shall be given by mailing such notice by certified mail addressed to Borrowtr at the Property Address or at such othrr address u Botro~rer may designate by notice eo I.ender as ~ro~~ided herein, and (b) any notice to Lender shall be given by certitied mail. return receipt requested, to Lender's address stated herein or to suth other address u Lender a?ay designate by notice to Borro~ver as provided herein. Any notice provided [or in this ~Iortgage . f shall be deemed [o have been given to.Borrower or Lender when given in tne manner dtsignatc~ htrein. ~ 15. Uaifotm Moregage; Go~erning Law; Sererabiliq. This [orm of mortgage combines uniform covenants for na- ~ tional use and non-uniform rnvenants with limited variations by jurisdicfion to cons[ieute a uniform security instrument ~ co~~ering real property. This Mortgage shall be governed by the law ot the jurisdiction in which ~ the Property is located. ~ In the event that anr provision or clause of this 1?tortgaqe or tht Note conflicu with applicable law, such conflict shall not ai[ect other provisions of this ~tortgage or the I~ote which can be given e{Eect without the conflicting pro~~uion, and to this end che provisions of che ~fortgage and the Note are declarcd co be scwerable. • 16. Borro~rer's Cop~. Borrower shall be furnished a con(ormed copy of the Note and ot this ~tortgage at the time of execution or atter recordation hereof. 17. Tranxfer of the Properq; Aa~umption. IE all or any part of the Property or an interest therein is sold or trans ferred by Borrower without I.ender's prior writtem m~sent, excluding (a) the creation ot a lien or encumbrance subordinate to this A(ortgage, (b) the cTtation ot a purchase money security interest for household appliances, (c) a transEer by devise, . descent or by operation of taw upon the death oE a joint tenant or (d) the grant of any leasehotd interest of three years or less not containing an option to purchase, I.ender maq, at Lender's option, dedare all the sums secvrcYl by this \tortgage to ~ be immediately due and payable. Lender shall have waived wch option to acceletate if, prior io the sale or tnnsfer, I.ender and the person to ahom the Property is to be sold or transferred reich agreement in writing that the credit of such person is satistactory to Lender and that the interest payable on the sums setured by this 11lortgage shall be at such rate as Lender ` shall request. IE Lender has waived the option to accelerate provided in this paraqraph 17, and if Borrower's successor in ~ interest has e~cecuted a w~rium assumption agreement accepted in writing by L.ender, I.ender shall release Borrowet from s all obligations under this Mortgage and the A`ote. ; If Lender exercises such option to atcelente. Lender ahall mail Borrower notice of acceleracion in accordance with ; • paragraph 1~ hereof. Such notice sha11 provide a period of not less than 30 days from the d~te the notice is mailed within ~ which Borrower a~v pay the sums declared due. lf Borrower [ails to pay such sums prior to the acpiration of such period, I,ernder may, without furthtr notice or demand on Borrorver. invoke~ainy temedia permitted by paraqraph 18 heteof. Nox-Ux~FOaut Covrxwxn. Borro~rer and Lender Eurther oovenant and agree u[ollows: 18. Accela~aeioa; Ramedies: Faoept as provided in parwgraph l7 Lereof. npon Borrov~rp's breach of an~ rnvenant or ~ agreemrnt oE BomoM?er in thi~ Mortgage, induding the corenanu to pa~ when due anJ sums secured by this Mor~gage, ~ Lender prior to aocclention ahall mail notiae to Borroaer as prorided in Faragrap6 I~ hereoE speci(ring: (1) tLe breach: tbe action requirod to are axL breadr. (3) a date, not les than 30 days Erom tbe dace the no[ice i~ mailed [o Borro+rer, ~ b~ whic~ such brrxh must be cvred; and (4) tLat failnre to cure tnch brcach on or be[ore tht date speci[ied in the novice mar rault in aaeleracioa of the wma secured br ~his Martgige. forecMa~re b~ judidal proceeding and sale of ehe Properq. The ~ notire ihall EurcLer iniorm Borrower of the righc to reinaaa afcer aoakncion and the righc w a.en ia the foreclosuir •h ~ praa~eding the non~ezistence of a default or an' other deEenae oE Borrrn?er w acoeleration and forcclow~n. IE the brrx.h is ~ not cured on ot before t6e date specified in the notice, I.tadet at I,tnder's option mar declare all of the sums secured by this Mortgage to be immediatel~ due and p~rabk withouc farthtr demand and may f~eclo~e thit Mortgage bT judicial prooeed- 6nb. I.ender a~aU be encided to o~llect in wch proceeding all ~pensa of forecloaue, including, buc noe limited to, rea~on- able attorner's (ees. and ao~u of docu~neatary evidence, abstruta and title reporta. ~ ~~R~ z88 P~~ 496 ~ _ _ . ~ _ _