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Home My WebLink About0541 , F • ~ . ~ Lender i writlen agrctment or appiicable Iaw. Barrower shall pay the amou~t ot all mortgs~e insurance prsmiurra in the ~oauner p~uviur~ unuei p~~ag~apii Z tic~cv(. . ' Any amounts disbuned by l.ende~ pursuant to' this paragraph 7, wilh intercst thercon, shall become additio~al ~ inJcbtcdness of Borrower secured by this Mor~gage. Unless Borrow•er and Le~cier ag~+ee to other terms ot payment; such ~ amounts shall bc payabk upon rn~tice trpm [.eoder to Borrov?~er reques~ing payment thereaf, and shall bea~ interest trom the ~ date of disburscment at the ratc payahle from time ta time an outstanding p~incipal under the Note unkss psyment of ~ interest at such rate would be cantrary to applicable law, in N•hich event such amounts shalt bear interat at the fiighest rate ~ permissible under applicabk law. Nothing con~aintd in this parag~aph 7 shall require Lender to incur any experua or take any action hereunder. _ •8. Iaspecfioa. t_ender may male or cause to t~c made reasonable entries upon and inspections oE the Prapeny, provided that I_e~der shall give Borrower natice prior to aoy such inspection specifying reasonable cause therefor related to Le~der's ~ interest in the Property. ~ , 9. Condemaatbn. The pn~ceedc of any award o~ cla~m tor damaga. airect or rnnsequen~iai, in conneciiun wiu~ anr condemoation or other taking of the Propeny, or part thereof, or for conveyance in lieu ot co~demaatiotf. are hercby assigned ~ and shall be paid to I.ender. ~ 1n thc event of a rotal Iaking af the Pmperty. the proceeds shall be applied to the sums secored by this Mottgage, s with Ihe ercexs, if any, paid ta Aorrower. in ~he evcnt of a partial taking of the Property, unless Borrower and Lender ~ othervvice agree in writing. there shall be applied to the ~ums securcd by this Mortgage such proportion of the proceeds : as is cqual to that proponion which the amount of the sumc srcured by this Mortgage immediately prior to the date of . I taking bears to the fair market valuc of thc Pro~xrty immediately prio~ to the date of taking, with the balance of the proceeds ~ paid to Borrower. . - ' if the Property is abandoned b~• Borrower, or if. after notice hy I_ender to Borrower that the condetunor offers to malce ~ an award or settle a claim for damagts, Borrower fails to respond to l.ender wilhin 30 days after the date such natice is ~ mailed, Lender is authorized to collecl and apply the praceeds, at I_ender's ~option. either to restontion or repair of the - Propeny or to the sums secured by this Mongage. ~ U~lesc I.ender and Borrower othenvise agree in H•riting. any such application of proceeds to principal shall not extend ; or pcxtpone.the due date of the monthly installmcnts referred to in paragraphs 1 and 2 hereof or change the amount of wch installments. . . 10. 8onower Not Rdeased. F_itension of the time for payment or modiflcation of amortiution of the sums secured b~ this M~rtgage granted by l.ender to any cuccessor in interest of Borrower shall not operate to release, in any manner, ` the liabili~y of the original Borrower and Borrawer e successors in interest. Lender shall not he rcquired to eommence pnxeedings against such successor or refuse to extend time for payment or othervvise modify amortization of the sums secured b~• this Mortgage by reason of any demand made by the original Borrower and Borrowers successt~n in interest. 11. Forbearance by I.eader Not a Waiver. •Any forbearance by 1.ender in exercising any right or remedy hercunder, or ~ otherwise afforded by applicable law. •shall not be a waiver of or preclude the exercise of any such right or rcmedy. ~ Thr procureme~t of insurance or the payment of taxes or other liens or charges by Lender shaU not be a waiver of Lender's right to accelerate the maturity of the indeMedness cecured hy this Mortgage. ` 12. Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other- right or q remeJy under this Mbrtgage or aftordcd hy law or equity. and may be exerciscd concurrently, independently or successively_ ~ 13. Succeswrs and Asi~ns Bound; Joint and Se~~eral i.iabiNry; Capdons. The covenants and agreements herein { contained shall bind, and the rights hereunder shall in~ire to, the respective succecsors and assigns of Lender and Bornower, ~ subject to the provisionc of paragraph 17 hereof. All rovenants and agreementc of Borrower~hall be joint and several. The captions and headings of the paragraphc of this Mongage are for convenience only and are not to be used to interpret or define the provicions hereof. 14. Notice. Except for any notice rcquired under applicable law to be given in another manner. (a) any notice to , Borrower provided for in this Mortgage shall t~e given b~• mailing such notice by certified mail addressed to Borrower at the Property Address or at such other addrecs as Borrow~er may designate by no~ice to 1_ender as provided herein, and (b) an~~ notiCe to Lender shall t~e gi~~en by certified mail, retum receipt requested. to I.ender s address stated herein or to such other address as I.ender may designate b~~ notice to Bormvver as provided herein. Any notice provided for in this • Mortgage shall be deemed to havc been given to BorroW~er or Lender when given in the mannor designeted herein, II IS. Uniform MortRaRr. Governi~ I.aw: Se~erabilit}•. This iorm of mortgage combines uniform covenants for national ; use and non-uniform cm•enants with limited variations h~~ jurisdiction to constihite a uniform security instrument covering ~ ~ real properiy_ This Mortgage shall be governed h~ ~he law of the jurisdiction in which the Property is Iocated. In the ' ~ event that any provision or clause of this Mortgage or the Note conflicts witTi applicable law, such conflict shall not affect ~ other provisions of thic Mortgage or the Note which can be given eBect without the conflicting provision, and to this t ~ enJ the provisions of the Mortgage and the Note are declarcd to be severabl.°. _ ! 16. Borrowe~'s Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time ; ~ of execution or aftec recordation hercof. ~ 17. Traosfer of tl~e Property: Assumption. If all or any pan of the Property or an interest therein is sold or transferred by Borrower without Lender s prior written consent, excluding (al the creation of a lien or encumbrance subordinate to ~ ~his Mongage. (b) the creation of a purchase money securi~y interest for household appliances. (c) a transfer by devise. descem or by operation of law opon the death of a joint tenant or (dl the grant of any leasehold interest of three years or less . no~ containing an option to purchase. Lender may, at I_ender'c option, declare all ~he sums secured by this Mortgage to be immediately due and payable. Lender shall have waived such option ta accelerate if, prior to the sale or transfer. Lender and the person to whom the Property is to be sold or transferrcd reach agrcement in wriiing that the credit of such person ; is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shail be at such rate as I.ender shall request. If l.ender has waived the option to accelerate provided in ihis paragraph 17. and if Borrower s successor in ' ; interest hac executed a written assumption agreement accepted in writing by Ixnckr, Lender shall rclease Borrower from all i ~ obligations under this Mortgage and the Note. ~ Tf Lender exercises such option to accelerate. [_ender ~hall mail Borrower notice of acceleration in accordance with ; ~ paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from tho date the notice is mailed within ~ which Bormwer may pay the sums declared due. If Borrower fails to pay such si~ms prior to the expiration of such period. _ [.ender may, without further notire or demand on 13orrower, invoke any remedies permitted by paragraph 18 hereof. ~ ~ NoN-UN~FORnt CovetveHrs. Borrower and Lender further covenant and agree as follows: ~ ~ 18. Accekratba; Remcdks. Fa~cept as provided in paraarsp~ 17 hereof, npoa Dorrowe~'s bresel~ of say coveaaat or ~ ~ agreement of Borrower ie t6is Mortgage. inclndi~ t6e rnvensnts to pay w6es due asy soms sec~nd by tb4 Mortta~e, I.e~acr + ~ prior to accekratbs sba8 a~ aotke to Eorro~.er as pmvidcd in para`rspb 14 bereof specUyios: (1) t6e breacti: (2) tbe actinn ~ ~ reqaired to cere sach 6reacb; (3) a date. not ks t6sn 3A days from t6e date tbe ootice M maNed to dorrower, b~r wMic6 socti . ~ breach must be cnred; asd (4) t~at failnre to cnre snch bresch os or before tbe date s~eci6cd h ttie ~otke isay res~it is ~ accck~atbn oE the sua~s eecared by tAls Mo~s`e, foreclosurr by jndkial procudie6 awa sak of tbe rroperty. 'Itie ~otke ~ sball further inform Sorwr?er of the rl~6t to reiastate dter accelera8oa and the ri6bt bo awert ia tYe foreclosare poeKdio~ ~ tbe aos-ex~stence of a detaok or my other dete~e of Borrower to accekratio~ ~d foreclossre. tE tbe breac~ 4 oot cw~ei o~ ; ~ or before the da~ ~peciBcd ia tbe rotice, Leeder at Leode~s o~tion may declare aY of t6e w~ xc~red b~ tiiM Mo~t b be = ~ immedistdy due aad para6k wkboat tuNber denuad aod may torecbse tbk Mort~e b!' joaicial /rocKdi~. Leeder s~ i ~ 6e eatitled to eol{at is srcb proceedin6 s9 espeoses of Eorecbsare, iaclndio`, bnt ~ot li~ited to, rearo~abk stto~eYs fas, = ; aed costt of documeMary evldtace. s6strscls snd t~tie reporh. . : 19. Sorror?er's ~Mt to Reie~taRe. Notwithstanding Lender s acceleration of the sums securcd by this Mortgage.. ' Borrower s6a11 have the right to have any proceedings hegun by Lender to enforce this Mortgage discontinued at aay time ' B~aK 28~ ~~f 539 ~ ~ . ~ ~ -