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Home My WebLink About0612 i ~ ~ agreea~au or aQpliuble law. Borrower shaA pay the amount ot ap zaortgage inwnnce premium~ in the manner provided : uoder paragraph Y hereot. ~ f Any amounts disbursed by Lender punuant to this para~aph 7. with intercst thereon. shall becomc addiciaial in• , debtedness ot Borro~rer secured by this Mortgage. Unlcss Borrowcr and Lender agree co oiher tern~ ot payme~t. wch i a~unts ~ttall be papable upon notice tran Lender to Borrowtr requestinE payzaent thereot, and shall bear intereu from ; che date of disbursement at the nte payable Irom tiane to time on outuanding principal under ~he Nocc unless paYme~t ~ oE interat at wch nte would bc contnry to applicable law. in ~vhich event auch amounts sh~ll bear inte~cst at the highat ~ ratc permissiblt under appliable law. Nothing rnnuincd !n thia pangraph 7 shall requirc Lender to incur any expense or ~ take any action hereunder. S, Idpecdow L,e~der may make or caux to be made reasonable encrirs upon and inspeccions oLthe Property. pro- ' vided that l.ender shaU ~ive Borrower no~ia prior to a~y auch inspection speci[ying reasonable cause therefor related to ~ Lendec's interett in the Propertr. ~ • s y. Condtmaation. Tbe praeeds o[ anr awud or claim tor daauga. direct or consequcntial, in connection rvtth my ~ condemnation or other taking of the Property. or part theceo(. or tor conveyance in lieu af coodemnation. arc herebq ar ~ signed and shail be paid to I.ender. ~ • . . ~ In the event of a total taking of the Property, the proceeds shall be applied to the suaw secured by thii Mortgage. ~ wich the excess. if any. paid to Borrower. In the erent oE a partial taking oE,the Propeny. unless Borrower and I.ender otherwise agree ia ~vriting, there shall be applied to the sums secured by this Mortgage such proportion of tht praeeds _ ~ a; u equal to that proportion which the amount ot the sums xcured by this Mortgage immediately prior to the dace o[ i uking bean to the tair market value of the Property immediatelr prior co the datc ot caking, with the balance oE the pro- ; cceds paid to Borro~ver. ~ I[ the Property is abandoned by Borro~ver. or if. after notice by Lender to Borrower thac the rnndemnor offen to make an a~rud or setde a claim tor damages. Borrower fai4 to respond to Lender~within 30 days :fter che date such notice is maiicd.. Lender is authorized to collcct and apply the praceds, at I.ender s option, ei[het to rescontion or npair oi the Propenp or co the wms secured by this Mongage. Unless Lender and Borrower ocherwise agree in writing, any such applicacion o( procecds to principal shall not extend t or pcistpo~e the due date of the monthly installments reEerred to in paragraphs I and Y hereof or change the amount o[ ; such installments. ~ ~ 10. Bormaet Not Reka~ed. Extension o( the time for payment or modification o[ amortization of the sums secuted ~ by this lfortgage gnnted by Lender to any sutteuor in interest oE Bortower shail not operate to release, in any manner. ~ the liability oE the original~ Borrower~ and Borrower's suttessor~ in interat, Lender shall not be requircd to commence ~ praeedinp,s against such successor or re[use to extend time for payment or othtrwise modity amortization ot the sums se- . ~ cured by this Mortgaqe by reason of a~iy demand made by the original Borrower and Borrowers successors in interes~ ; ~ 11. Fabearanoe b~ Lender Not a Wai~et. Any forbeannce by Lender in euercising any right or nmedy hereunder. or other~vise attordcd by appliuble law, shall not be a waiver oi or preclude the erercise of any such right or semedy. The~ - procurcment of insurance or thc payment o[ taxa or other liens or charges by L.ender shall not i,c a wai~•er of Lender's riqht to accelerate che maturity of [he indebtedness secvred by [his Mortgage. • _ lY. Remedies Glunulad~e. All retnedies provided in this Mortgage are distinct and cumulative to any other riqht or rcmedy u~idet this Mortgage or afEorded by lawr or equity, and may be exercised mncurrently, independently or successivel~. 13, Succaeocs and A~igns Bound; joinc and Sereral Liabilitr: Captions. The co.enants and agreemenu herein contained shall bind. and the rights hereunder shall inure to, the respecti~e successon and assigns of Lender and Borrower. subject to the provisions of pangraph 17 hereof. AA aovenanu ~nd aAreemenu of Borrower shall b~ joint and several. The captions and headings o[ che pangraphs of this 1lfongage are tor con~enience onlx and are not to be used to interpret or ; define the provisions hereo[. t 1~. Notioe. Except for any notice requircd under applicable Iaw to be given in another manner. (a) any notice to Borrower provided for in this ~iortgage shall be gi~en by mailing such notice by certified mail addressed to Borrower at the Pioperty Address or at such other addreu u Borrower may designate by notic~ to Lender u pro~•ided herein, and (b) any notice to Lender shall be giaen bp certified mail, return receipt requeued, to Lenders address stated herein or to such othet address u L.ender may designate by notice to $orrower ai provided herein. Any notice provided for in this Mortgage shall be deemed to have been given to Borrower or Lenda when given in the manner desigmted herein. . 'i - - i 15. Uniform Mortgage; Ga+erning La~+: Serrnbiliq.' This Eorm o[ martgage combina uniform corenanu for na- tional use and non-uniform m?enanu with limited variations by jurisdiction to mnstitute a uniform security instrument ~ co~•ering real property. This Motcgage shall be govrrned by the law of the jurisdiction in which the Property is located. ; In che event that anr provision or claux ~f this Mortgage or the Noce contlicu with applicable Iavv, such con[lict shall not ~ aftect othcr provisions of this Mortgage or the 1\ote which can be gi~en effect without the con(lictinq pro~ision, and to this end the provisions of the ASortgage and the Note are dedared to be severable. 16. ~orrower's Copy. Borrower shall be (urnished a con(ormed copy of the Note and of this \tortqage at the time • of ex~cution or after recordation hereof. ~ 17, 'TransEer of the Yroperq; A~sumption. JE aU or any part oE tht Property or an interest therein is sold or trans ~ (errtd by Borrower without Lender's prior written consent, e~ccluding (a) the creation of a lien or encumbrance subordinate ~ to this A~ortgage, (b) the crtation ot a~purchue money security interest Eor hpusehald appliances, (c) a trans[er by devise, descent or by opention o[ law upon the death ot a joint tenant or (d) the grant of any leasehold interest of three yean or less not containing an option to purchase, L.ender may, at Lender's opcion, declare all the sums secured by this Aiortgage to be immediately due and pa}rable. Lender shall have waived such option to accelerne i[, prior to the sale or transter. Lender and the person to whom the Property is to be sold or tnnsEerred reach agreement in writing that the credit of such person . is satiafactory to Lender and that the interest payable on tht sums secured by th'u Mortgage shall be at such nte as Lenda : shall requcst. If I.ender hu w*aivod the option to accderate provided in this paragraph 17, and if $orrower's successor in ~ intuest has dcecnted a written assumption agreement accepted in writing br Lender. Lender shall reltase Borrower from - ~ ~11 obligations undet this Mortgage and the Note. ~ ' JE Lender exercises such option to aaelenee. Lender shall mail Borrower notice of acceleracion in accordance with puagnph 14 hereoi. Such notice stull provide a period o[ not l~ss than 30 days from the datt the notice is mailed within _ ~ which Borrower may pay the sums decla~ed due. If Borrower tails to pay such suQU prior to the expintion of such period. . ~ I.ender mar. without furtha notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof. ~ Norr-Ux~o~a~ Covtxwxts. Borm~+er and Lender further covenant and agree u toUows: ~ ~ E 18. Aooeleration; Remediea Faoept a~ pro.ided in paragcaph 17 hereof. npon BormMrer's breach o[ an' mvenant or 3 agreement o( Borr~osrer in thir Mortg~ge, including t6e co+enanu to pay whrn due anr sums secured b~ thi~ Mortgage. E: ~ I,tader prior to acoelrntion ~hall mail notice to Borrm?er as prorided in paragraph 1~ hereof specifying: (1) the breach; l ~ [Le action rryuired to curc wub bmch; (3) a date. noe krs than 30 days fram the daee tLe notice is mailed eo Borro~s.er. e ~ b~ ~rhich sucb breach must be cvr+ed; and (4) tbat failare to cure snch brexL on or before the date speci[ied in the notice may ! rewlt in aoakration of tLe wms ucured b~ this Mortgage~ torc~cla~au~e b~ judicial praeeding aod ral~ of che Properc~. The notioe ihall turther in[orm Borro~rv o[ the right to rein~tate a[ter aooeleration wd tLe right to aaeert in t6e forecbwre P~~B tLe non~euntenoe of a de[anlt or any other ddeo~e of Borrov?er w aocelencion and Eomlo~re. If tbe breach is not cnred on or beEare the date specified in the nocice. I~ender at Lender's op[ion mar dedan all oE ehe sums sccvred b~ tbis Mort~age to be immediacd~ due aad parabk writhout farther demand and ma~ [oreclose ~his Mortgage bY judicial proceed• ina. I.eader diall be entitkd to aollat in soch proee~ding all ti~penoa ot torecloa~rt. including, but not lioaited to, reapn- able ateorne~'s [eea. and ww of docva~enurp evidence. ab~tracu and cicle reporta ~ dao~ 2$~ ~ict 6~9 ~ ~ . _ _ -g ` r,-.~ ~ ~ _ - - , ; . ~ ~ 4 ~y e~",~u'~ - ~~qT.rT _ ~ ~~i`„"a~w.? _ n~