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Home My WebLink About0504 . , agreement or applica6le law. Borrower shall pay the uaount of all mortgage insuranct premiums i~ the manne~ provided u~der p~ragraph t hereo[. Any amounts disbursed by I.cnder purwant to this pangraph 7. w+ith interest thereon. shall become additional ic~- debtedness ot Borro~ver secured by this Mortgage. Unleas BorroNer and Lender agree to other terms o[ pannent. wch . amounts shall be payable upon notice trom l.ender to $orrower requeatina payment thereot. and shall bear interest Erom che date ot d'ubutxment at the nte payable irom time to time on outstanding principal under the I~tote unlcu payment ot intereat at sitch rate aould be conttary to applicable law. i~ which event wch amounts shall bear interat at the highest ~ ratc permissible unda appliuble law. Nothing co~tained in this puagnph 7 shall require Leoder to i~cur any expense or ulce any attlon hereunder. . e. Inq~cctie~. Lender may make or cause to be made reasonable entria upon and inspcctions of the Property. pro- ~ nq cc ' vidcd that I.er~der sluU give Borrower notice prior to any wch inspectio~ speci[Yi~g reasonable ause theretor related to + Lendtr's iaterat in the Property. f 9. Coadaeutiow. The proceeds of any awud or daim tor damagea, direct or consequential. in connation wit!? any i condemnation or other uking ot the Property. or part thereot, or for conveyance in lieu ot condemna~ion, are hereby as- • signed and shall be paid w Lender. } ln the event d a total taking of the Property, the proceeds shaA be applied to the wms secured br this Mortgage, with the excess. if a~y. paid to Borrower. In the event of a partial taking of the Propercy, unless Borrower and Lender otherwix agm in writing. there stull be applied to the wms secured br this Mortgage such proportion ot the procetds ai is equal to that proportion which the amount oE the sums secured by this Morigage imu?ediately prior co the date oE wking beus co the tair mukec value o[ the Propetty immediacely prior to the dace of taking, with the balance o[ the pro- cteds paid to Dorro~rer. ~ ~ ? If the Property is abando~ed by Borro~rer, or if. after, notice by Lender to Borrower tl?at che mndemnor offen to ; , make an aw+ud or setde a claim for damaga, Borrower tails to tespond to Lender ~vithin 30 days a[cer ct~e dace such notice ~ is mailed, Lender u authorized to mll~ct and apply the procecds. at Lender's option, eithet to restoncion or npair o[ the o_.._~._ _ v..r..._..~ : ..~r~ccj :sz tv ~::z ~:~'::s: wL:sLi~ ::j .pro;. Unless Lender and Borrower otherwise agree in writing, any such zppliacion oE praceds to principal shill not extend or postpoae the due date of the monthlr installauenu reterred to in paragraphs 1 and 2 hereoE or change the amount of such installments. - 16. Sorw~rer Not Rekasedr Extension of the time for payment or modi[ication of amortization of the sums secured. by this ~tortgage granted by L.ender to anr suuessor in interest oE Borrower shall not opente to release, in anp manner. the liability of the originat Borrower and Borrowers suctesson in interest. Lender shall not be teyuired to commence praeedings against such successor or reEuse to txtend time tor payment or otherwise modi[y amortization ot the sums ae- cured by this Mortgage by reason o[ any demand made by the original Borrower and Borrower's successon in interuG 11. Forbearasce b~ Lender Not : Wairer. A~y forbeatance by Lender in exercising any right or remedy hereundet. or ocherwise aEEorded by appliable law, shall not be a waiver o[.or preciude the ~renise of any such righc or rrmedy. 'The procurement oE insunnce or the payment ot taxes or othtr liens or charges by I.ender shall not bc a waicer of I.endtr's , right. to accelerate the maturity of the indebtedness secured by this Mongaqe. ' 12 Re~aediea tauauladve. Ail remedies provided in this Mortgage are distinct and cumulative to any other right or remedy under thu 11lortgage or a[[orded by la~r or equity, and may be exercised mncurretuty, independently or successively. _ I3. Succea~ors and A~igns Bouad; joint and Se~eral Liab~7iq: Captioiu. The co~•enants and agreements herein o~ntained shall bind, and the righu hereunder shall inure to. the respective successon and assigns of I.ender and Borrower, subject co the pro~uions o[ pangraph 17 hereof. All mrenanu and aqreements oE Borrower shall be joinc and several. "The caption~ and headings of the paragraphs oE this ~tongage are for convenience only and are not to be used to interpret or de(ine the provisions hereoE. 14. Notioe. Except for any notice required under applicable law to be given in anocher manner. (a) any notice to Bonower provided tor in this ~tortgage shall be given by mailing such notice by certi[ied mail addressed co Borrowa at the Property Address or at such other address as Borrower may designate by notice to Lender as pro~•ided herein, and (b) ~ anr notitt to Lender shall be given by tertified mail. rtturn receipt requested, to Lender's address stated herein or to such othet address as Lender may designate by notice to $o.rrow1et as pmvided herein. Any notice pro~~ided for in this Mortgage shall be deemed to have been given to Borrower or L.ender when given in the manner designated htrein. ~ 15. Uniform Mortgage; Go~erning I.a~r; Seraabiliq. This [orm of mortgage combines unitorm co~enants for na- ; tional use and non-uniform covenanu with limited variations by jurisdiction to constitute a unitorm security instrument ~ coeering real p;operty. This Mortgage shall be governed by the law of the jurisdiction in which the Proptrty is loneed. ~ in the event that anr provision or dause o[ this Mortgage or the Note conflicu with applica~le law, such conflict shaU not ~ af[ect other provisions of this Alortgage or the ~tote which can be given e[[ect without [he contlicting provision, and to = this end the provisions of che ~iortgage and the Note are declarcd to be severable. ~ ; 16. Borrower's CopT. Borrower shall be furnished a con[ormed copy of the 1~ote and ot this ~tortgage at the time ! of execacion or afeer rtcordation hereof. I - ~ I7. Tran~fer oE the PmpertT; Aaeumption. If all or any part of th~ Property or an interest therein is sold or trans ~ Eerred br Borrower without Lender's prior written consent. excluding (a) the creation of a lie~ or encumbrance subordinate - ~ to this ~tortgage, (b) the atation of a purchase moner security interest for household appliances. (c) a tnnsfer by devise, ~ i descent or by operation of law upon the death ot a joint tenant or (d) the grant of any leasehold incerest ot three years or ~ less not containing an option to purchase, Lender may, at Lender's option. declue all the sums secured by this 14fortqage to ~ be immediately due and payabie. Lender shall have vnived such option to accelerate if, prior to the sale or transfer, Lender ~ i and the penon to xhom the Property is w be sold or. transferred rnch agreement iR wtiting that the credit of such person 3 ~ is satistactory to Lender and that the interat payable on the sumc secured by this Mortgage shall be at such rate u Lender ~ shall request. If Lender hu waived the option to accelerate provided in this patagtaph l7, ar+d if Borrower s succeswr in ~ interest has executed a wtittm assumption agretment accepted in writing by Lender, Lender shall release Borrower trom ~ all oblig~tions under this Mortgage and the Noce. ~ E IE L.ender extrcises such option to aaeletate, Lender shall mail Borro~rer notice of accderation in accordance with ~ I paragraph 74 hereof. Such r~otice shall provide a petiod of not less than 30 days (rom the date the notice is mailed w+ithin which Borrower maY pay the sums declared due. IE Borrower (ails to pay such sums prior to th~ expiration of such ptriod, g ! L.ender may, aithout [unher notice or demand on Borro~rer, invoke any remedies permitted by paragraph 18 hereof. ; E NON-UNIFOR'M CovFxwxrs. Borrower and Lender further rnvenmt and agree u iollows: 5 1& Aoceleration: Remedia. E:oept a~ provided in pangnph 17 LereoE. upon Borrowds breach of anr cavenant or zgremoent o[ Borm~rer. in ~Li~ Mortgagr. including tLe co+enana w paJr whrn due aay sums ~ecured by this Mortgage. : ~ L.ender prior to accelrncion ~Il mail notice eo Bocro~rer as pro~ided in paragraph 1~ hereof speci[yiog: (1) t6e breach; ~ ~ the action required to cure wch breacb: (3) a date. aot leis than 30 daps from the date the noeice is mailed co Borro+?a. ~ ~ b~ which wuh breach must be cvr+ed; and (4) that failnrt w cure such bnuh on or befon tLe date speciEicd in the notice may ~ ~ rewlc in aooelention of the wms aecured b~ this Morcgage, [oreclawtie b~ judicial praeeding and sale of the Propert~. The - - ~ notioe a6a11 funher inform Barro.+u oE ehe righe eo reinstace ateer aocderatio~n and tbe right w aasen in the foreclowre ' ~ proceeding tLe nonezistenoe oE a deEault or any aher defease oE Bormwer co auoelrntion and toredwurr. If tLe breach is ~ ~ na aued on or be[ore ehe dace specified in ~he nocia, I.ender at Lrnder's option may declare ali of the wms secvred bp ~his ~ ; Mortgagr to be immediately due and parabk Mrithont fnrther demand aod ma~ [oreclose ehis Mortgage b~ judicial pnooeed- ~ ~ ina. Lenda ~hall be encitkd to rnllece in such procceding all acpen~es of toreclowre, including, buc noe limited to, ra~~a- ; abk attorneys fees, and caaa of documentar~r e~ienoe. abstracu and dtk nports. ~ ; z~~K 288 ~~~E 50z ~ ~ ~ . , _ . . .,n 1 _ . _ - - ~~~a: