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Home My WebLink About0678 Lc~der's written agrceme~t or appljFabk 1aw. t3p~rg~ shall pay the amount o! all mon~age insurance prcmium: in the manncr provided unde~ paragraph 2 hereot. Any amounts disbuned by Lenckr pursuant to this paragraph 7. with intercst thereon, shall become additiona) indebtedoess of Borrower aecurcd by this Mungage. Unless Borrowor and I_enJer agrce to othet yerms,•o~ psyment, such amamts shall be payable upon notice tram I.ender to Borrowrr requesting payment thereot, snd sKall bea~ interest (rom ihe date ot disbursement at the rnte payable from time to time on outstanding principal under the Note unleu payment of interest at such rate would be cont~ary ta applicable law, in which event such amounts shall bear i~terest at the highest rate permissibk under appliosble law. Nothing contained in this paragraph 7 shall requir+e Lender to incur a~y expense or take - any actioo~Fiereunder. 8. laspectioa. Lende~ may makc or cause to be made reasonabto emries upon a~d inspections of the P~opehy, provided that I.ender shall give Borrower notice prior to any such inspectioo specifying rcasonabk cause thenfor related to Lender's interest in the Prope~ty. 9. Coodemaatbn. The proceeds of any award or claim for damages. direct or consequential, in connection with any condemnation or other taking of the Property, or part thereof, or tar conveyance in lieu ot rnndemnation, arc hereby assigned and shall be paid to Lender. ~ ' 1n the event of a total taking of the Prope~ty, the proceeds shall be applied to the sums securcd by this Mortgage. . with the excess, if any, paid to Borrower. In the event of a partial taking of the Properfy, unless Bomower and i.ender otherwise agree i~ writing.~ therc shall be applicd to the sums securcd by this Mortgage such proportion of the proceeds as is equal to that proportion which the amount of the sums secured by this Mortgage immediatety prior to !he date of taking bcara to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds paid to Borrower. If the Property is abandoned by Borrowcr, or if, after notice by Lender ta Borrower that the condemnor oBers to make aR award or settle a clsim for damages, Borrower fails to respond to i.ender within 30 days after the date such ~otice is mailed, Lender is autho~ized to collect and apply the proceeds, at t_ender s option, eithtr to restontion or repair of the Propeny or to the sums s~curcd by this Mortgage. - Unleas Le~der and Borrower otherwise ag~ce in writing, any such application of proceeds to principal shaN not extend or postpone the due date ot the monthly ihstallments referrcd to in paragraphs 1 and 2 hercof or change ihe amount of asuch installments. 1Q. Son+ower Not Rekased. Extension of the time for payment or modiflcation of amortization of the sums secured by this Mortgage granted by Lender to any successor in interat.of Borrower shall not operate to nleau, in any man~xr, tlie liabiliry of the original Borrower and B~rnower's successors in interest. Lender shall not 1~ required to commence procetdings against such successor or refuse to exte~d time for payment or othenvise modify amortization of the sums secured by this Martgage 6y reason of any demand made by the original Borrower and Borrower s successors in interes4. ' ll. Forbea~ece by Lender Not a Wsiver. Any f~rbearance by t_ender in exercising any right or remedy hercunder, or otherwise afforded by applicable law, shall not be a waiver of or proclude the exercise of any such right or remedy. The procurcment of insurance or the payment of taxes or other liens or charga by Lender shall not be a waiver of Le~der s right to accelerate the maturity of the indebtedness xecurcd 6y this Mortgage. ' ]2. Remedks Comnbtire. All remedies pravided in this Mortgage are distinct and cumulative to any other right or rcmedy undtr this Mortgage or aftorded by law or equity, and may be exercised concurrently, independently ot succe3sively. l3. Soccesson and Asaigns Eouad: Joiat and Several ~.fabNty; Csptbns. The covenants and agreements hercin contained shall bind. and the rights hercunder shall inure to, the rcspective successors and assigns of Lender and Bornower, subject to ~he provisions o[ paragraph 17 hereof. All covenants and agrcements of Borrower shall be joint and several. ~ The captions and headings of the paragraphs of this Mortgage are for convenience oniy and are not to be used to interprct or define the provisions hereof. ~ ~ l4. Notice. Except for any notice required under applicable lav?• to be given in anoth~r manner, (a) any notice to Borrower provided for in this Mortgage shall be given by mailing such notice by certifiEd mail addressed to Borrower at the Property Address or at such aher address as Borrower may designate by notice to (_ender as provided herein, and (t~) any notice to Lender shall be given by certified mail, retum receipt requested, ro[.ender s address stated herein or to such other address as Lender may designate by notice to Borrowrr .as provided herein. Any notice provided for in this Mortgage shall be deemed ta have been given to Borrow•er or Lender when given in the manner designated heiein. • 1S. Uaiform Mo~tgaEe; Go~ernin~ I.aw; Severability. This form of mortgage combines uniform cove~ants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property_ This Mongage shall be governed hy the law of the jurisdiction in which -the Property .is located. In the event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such co~flict shall not aftect ~ other provisio~s of this Mortgage or the Note which can be given effeci without the conflicting provision: and to this ~ - end the provisions of the Mortgage and the Note are declared to he severable. ~ 16. Eorrower's Copy. Barrower shall be furnished a confocmed copy of the Note and of this Mortgage at the time ' of execution or after recordation hereof_ " ~ ~ ~ 17. Tmntfer of t6e Property; Assumption. If all or an~~ part 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 encumbra~ue subordinate to this Mortgage. (b) the creation of a purchas~ money security intercst for household appliances. (c) a transfer by dtvise, descent or by operation of law upon the death of a joint tenant or fd) the grant of any leasehold interest of thrce years or less ~ not containing an option to purchau, Lender may; at Lend~r's option, declare all the sums secured by this Mortgagt to be immediately due and payable. Lender shall have waived such option to accelcrate if, prior to the sale or.transfer. Lender and the person to whom the Property is to be sold or transferred reach agreement in vvriting that the credit of such person is satisfactory to I.tnder and that the interest payable on the sums secured by this Mortgage shall be at such rate as I.ender shalf requat. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in i~terat hu executed a written assumption agreement acceptod in writing tsy Lender. I.ender shall release Borrower from all obligations under this Mortgage and the Nete. . ~ if Lender exercises such option to accelerate, I.ender shall mail Borrower notice of acceleration in accordance with paragraph 14 heroof. Such notice shall provide a period of not iess than 30 days from the date the notice is mailed within • which Borrower may pay the sums declared due. If Borrow•er fails to pay such sums prior to the expiration of such period. L.ender may, without fur!:.:r notice or de~nand on liflrrower, invol~e any remedies permitted by paragraph 18 hereof. iVoN-UrnFOR~t Covert~xrs. Borrowe~ and Lender further covenant and agree u follows: 18. Acceknitior, Rea~edfa. Ezcept as pwvided ia para~nph 1~ hereof, opoa ~orrowe~s brear6 of aay co~eaa.t or ° a6reemeot of Borrower in thk Mort~age. inctpoln~ t6e covensMs to pay r~bee dee say wms secaued by t6b Mortss~e, I.ender ~ prbr to acceieratbo ~6a~ ma~ ~otke to Borrower as provided ia pus~npl~ 14 6ereof ~pecityiu~: (1) the brescb; (2) t6e actjon ~ reqnired to cure sac6 brescr; (3) a date, not las thsn 39 dsys from tbe dste the eotice i~ ~alkd to Eorrower, Iry wbkh socY brc~ch mmt ~e crre~ aod (4) tl~at faBdrs to core sach breach oa or betoro t6e date ~eclicd i~ tbe ~otice may nsalt b ~ " sccdention ot tre son~ secored by thb Mortgage, Eorsclowre by judkial pmceedto~ aod sak of tbe Properry~. 'lbe notice ~ sl~ forlber iaform Eorrower ot tbe ri~bt to rei~state after accekrstbn aod tbe ri~6t to aoeN io tbe foreclowre proeeedis~ ~ tbe.oae~teece af a deEark or sny other defea~e of Borrower to ~ccekration sad forecloare. if tbe bresc~ M nc+t rored oa ~ or before the date speeilied in tbe ~otke. Lrnder at Leode~'s option may declue a~ ot tbe mans ~ b~ t6k Morl~e M be immedhMy doe aod pyabk wit~oet fartbsr demand and mq forrcfose t6b Mort~a~e M judicid Prae~. Leoder shaY be eotltled [o colleet ie sosb procadio~ a8 espen'a ot farscbsare, i4clndina, brt sM Ydited b. rea~onabk attoAe~'s fas. aed owb of docomentary e~fdeace. s6strscb aod tide ropo~is. 29. Eorrower's Ri~6t to Rdmtate. Notwithstanding Lender s acceleration of the sums secured by this Mortgase. Bonower shall have the right to have any procesdings lxgun by Lende~ to enforce this Mortgage diacontinuod at any time ~ - zs~ P~~E s75 - - - , _ - ~ ~ ~ ar~ ; c~ , .v ~ - ~ ; ~ ~ ~