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Home My WebLink About0910 i agreement or appliuble la~v. 8ottower shall par the amount ot all mortgage insurance p~emiums in the manner provided w~de~ psragraph Q hereo[. - Aoy au~u~ts disbursed by Lender purwant to thia paragraph 7. with interest the~eon, shall become additional in- ~ debtcdncas o[ Borrower secured by this Mortgage. Unleu Borrowct and [.ender agree to othcr tern~s ot payment. wch amounts shall be papable upon notice trom i,cncter to Borro~er requtuing payraent thenof, and shall bear intemt ttom ~he date o[ disbursement at the nte payable [mm time to timr on outstanding principal under the Notc unless paymtnt ot i~terest at such rate would be rnntnry to ~ppticable law. Io which ere~t such aa~ounts sha!! bear in~erat at the highest ratc permiuible under applicable law. Nothing contained in this puagraph 7 shall require Lender to incur any expenx or take anJr action htreunder. . ~ & In~pection. L.ender mar make or nux to be madc nasooable entties upon and inspections o[ the Property, pro- vided that Le~der ahall give Borro~er notia prio~ to any such inapection specitying reaso~abte cause therefor relatcd to I.ender's interest in the Praperty. ~ 9. Condemnation. The proceeds oE any award or claim tor damagd. dirett or~mnscquential, in connection rith any ' ~ondemnation or ocher taking ot the Property. or part thenot, or [or convcyance in lieu o[ mndemnation, are hercby as- ; signed and shall be paid to Lender. ~ In the event of a total taking of the Propetty, the proceeds shall be apptied to the sums secured br this rfortgage, with the exoess, iE anr, paid to $orrower. In the evrnt ot a partial taking of the Property, unless Borrower and Lender i otherwise ag~ee in writing. there shall be applicd to the sums secured by this 1?iortgage such proportion of thc proceeds ai is equal to that propottion which the amount oE the sums secured by this Mortgagc immediately prio~ co the date oE r caking bears co the fau muket value of che Propeny immediacely prior co the dace of taking, with the balanct of the pro- ~ ceeds p~id to Borrower. ; If the Ptoperty is abandoned by Borrower. or if. aEter notice by Lender to Borrower that the mndemnor o[ters to make an awud or xtde a claim for damaga. Borrower faih to rapond to Lender within 30 days afeer ehe date such notice ~ ~ is mailed, I.ender is authorized to coilect and apply the proceeds, at Lender's option. eithrt to restontion or npair of the • ~ Property or to the sums secured by ~ this Mottgage. ; Unless Lende[ and Borrowet otherwise agm in rvriting, any such application of praeeds to principal shall not extend ~ or postpont the due date of the monthly installtnents tefetred to in. paragraphs 1 and 2 hereof or change the amount of ~ such mstatlmencs. . $ 10. $orro~rcr Not Rdet~e~d. Factension oE tht time for payment ot modification of amortization ot the sums setured i by this ~fortgage granted by Lender to any successor in interest o[ Borrower shali not operate to release, in any vyanner, : the liability oE the original Borrower and Borrower's successors ia interest. Lender shall not be requirtd to rnmmence praetdings against suth sutceswr ot tefuse to extend cime for payment or othetwise modify amortization ot the sums se- - . cured by this \iortga~e br teason of any dtmand made by the original Bormwer and $orrower's successors in interest. ? ~ 11. Forbr~ranae br Leader Not a Wai~er. Any forbearance by Lender in exercising any right or remcdy herrunda. or ocherwise afforded by applipble law, shall not be a vraiver o( or preclude the exercise of any such right or remedr. The ' procurement of insurance or the payment of taxes or other liens or charges by I.eoder shall not be a wai~•er of L.ender's right to accelerate the maturity of the indebtedness secuted by this Mortgage. . 12. Remedies (~mulati~e. All remedies provided in this lttortqage art distinct and cumulative to anv other right or remtdy under this Aiortgage or a[forded by law or equity, anet may be exercixd concurrently, independently or successively. 18- Successors and A~gns Bound; Joint and Srreral Liabiliq; Captions. The co~•enanu and agreements hetein ~ contained shall bind, and the righu hertunder shail inure to, the respective successors.and assigns of Lender and Borrower. subject to the provisions oE pangraph 19 hereof. All rnvenanu and aqreemenu of Bortower shall be joint and severat. 'Tht ~ captions and headings ot the paragnphs of this Mortgagr are for com•eniente onty and are not to be used to interpret or ~ define the provisions hereof. ~ 19. Notice. Exttpt for any noticc requued under applinble law to be giveo in another manner, (a) any notice to t $orroNer prq~ided Eor in this ~fongage shaU be given by.mailing such notice by certified mail addressed to Borrower at ehe Property Address or at such other address as $onower may designate by notice to Lender~as pro~•ided herein, and (b) any notice to Lendet shail be given by certiiied mail, retutn receipt tequested. to l.ender's address stated herein or to such f othtr address as Lender mar designate by notice to Borrowet as provided herein. Any notice provided [or in this ~(ortgage ~ shall be deemed to have been given to Borrower or I.ender when given in the manner designated herein: ~ l~i. Uniform Mongage; Governing I,a~r; Se~erabiliq. 'I'his [orm oE mortgage combines uniForm cocenants for na- ~ tional use and non-uniEorm mvenants with limited variations by jurisdiction td constitute a uniform security inswment ~ co~~ering real ptoperty. This btortgage shall be govetned br the law of the jarisdicteon in which the Property is located. In the event th~t a~r provision or clause of this Nongage or the No[e conflicts with applicable law, such conllict shall not . a(fect other provisions of this Mortgagt or the Note which can be gi~eR e(fect without the conflicting pro~ision, and to ; this end the provisions o[ the Mortgage and the Note are dedared to be severable. - 16. Borrower's Cop~. Bonower shall be turnished a conformed copy of the Note and of this Afortgaqe at the time ' of execution or aitet recordation hereoF. : . 19. Tranaler oE the Properq; Asumpcion. If a11 or any patt oE the Property or an interest therein is sold or trans ferred bp Borrower without Lender's prior written rnnsent, rxcluding (a) the creation o[ a lien or encumbrance subordinate ~ to this Mortgage, (b) the aeation of a purchase money security interest for household appliances. (c) a transter by devist, ~ descent or by operation of law upon the death of a joint tenant or (d) the grant of any ieasehotd interesc of thrce years or ; ku not containing an option to purchase, I.eoder may, at Lenders option, declare a11 the sums secured by this 1?lortgage to be immediately due and payable. l.ender shall have waived such option to accelente if. priar to the sale or transter, Lendet and the person to whom the Propeny is to be sold or transferred reach agreement in writing that the credit of wch penon e is satisfactory to Lender and that th~ interest payable on tht sums.secured by this Mor[gapr shall be at wch ratt as I.ender shall requesG If Lender has waived the_ option to accelerate pmvided in this paragraph 17, and i[ Borrower s successor in interest hu executed a w~titten assumption agreement accepted in writing by Lender. Lender shall release Borrowcr from all obligations under this Mortgage and the Nota If Lender exetdses such option to acceterate, Lenda shalt mait Borroaer notice of accelerstion in zccordance with i paragraph 14 hereof. Sath notice shall provide a period of not less than 30 days from the dace the notice is mailed within ~ which Bortower may pay the sums dedared due. If Borrowv (aila to pay such sums prior to the expintion of such period. I.ender may, without turther notice or demand on Borrower, invoke anY temedies perwitted bq paragraph 18 hereoE. ; NON-UNIFORM Covrxexrs. Bottower and I.ender further mvenant and agree as tollows: l8. Acceleration; Raonedid. Fscept a~ provided in paragraph 1~ hereof. npon Borrowe~s brach of any co~enant or • . agreement oE Borro~rer in this Mottgage. inctudireg th co~enanq to pa~ w6rn due an~ aims ~ecurcd b~ ehi~ Mortgage. , I.ender prior to aaeleratioa ihall mai! notioe to Borro+rer as profided in paragraph 14 hereoE sP~~T~B~ (1) the brexh: tbe accion requined to aue wch• bmch; (3) a dste, noc Iew tban 30 da7s fr~ t6e date the notia is maikd to Borro+ru, i b~ which wuh breacb mu~t be cvred; and (4) that failure to care wch breuh on or be[orc the date specified in the notice ma~ ~ rewlt in aooeteration d the w~ns ucured br chis Mortgage. iorccbaire br judicia! proceedirig and aale oE ~he Prapaty. ~'he ~ notioe ahall further inform Borrmru of the rig6t to rein~tate a(ter aooekration and the right to as~ert in the Eorcclo~ure ~ procecdina the non-rxinenee ot a ddault or anr other de[ense o[ Son+n~rer w aooeleratioa and [oredwurr. If tbe breacb is ~ not cvred on or before che date rpccified in the notice. I.ender ac I.ender'a opcion ma~ dedaze al! of t6e wms secund b~ this Mortaage to be immediatdy due and paJxbk without [urtbet demand and rtea~ toretlo~e thia Mortgage br jnditial procted. in& Lender a6all be eatided to rnllect in wc6 prooeedina all r:peo~a a[ [uretlowre. includiag. bnt noe limited to, reawn- ~ able attorneYs fees, aad wps of documentuy eridenoe. aMascts and titk reports. ~ ~ ~ao~ 288 PA~f 908 ; ~ - ~ _ . ~ ~ _ _ _