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Home My WebLink About0831 . ~ ~ l.ende~'s written asroement or applKabb law. Borrowe~ shall pay the amount ot a11 mortpge insuraace premiums in the manne~ providad unde~ pa~agnph 2 her~of. A~y amounts disbursed by I.em1e~ ~pursuanl to thi~ pa~aaraph with iaterest thercoo. shail ~becane additional in~kbtodrkas ot 8orrovrer secured by this Mongage. Unkst BoROwer and l.enJe~ aaroe to othe~ terma of paymen~ wch -+++~u+~-~+u-~~MY+~-+~P~?-wcuica-traa~-I.e~d~s-to-~rrowes-aquw+ag-PaYa~eat-thoroo~ and shall beu in ~t.._~! f~~ datC ot disburxmeot st the nte payabk tmm limc to lime on outstandin principsl under the Note unkss payment oi ioterest at such rate would be contnry to applicsbk law, in which event s~ amounb shall bea~ interW at the hiahe~t tate permissibk onder applicabk law. NMhing cant~ined in Ihis paragraph 7 shaq require I.e~der to ineu~ any expen~a or take any action heretinder. ~ d. Isspectio~. [.ender may make or cause to be made rcaco~abk entriec upon aod inspections of the Property. provided that l.ender shall give Borrower nMice prior to any such inspection specifying rcasonabk cause therefor rciatod to Lender's intercst in the Property. 9. Co~demustba. The proceedc of any award ar claim for damages, dircet or consequential; in connection with any coridemna:ion or dher taking ~f the Propeny. or pan tfiercof, ar for conveyance in lieu of coodemnation. are hereby assigt~t~ and shall be paid to Lender. ~ In the event of a total taking of the Propehy, the proceeds shall be applied to Ihe sums securcd by this Mortaa~e, with the ezcess, if any, paid to Borrower. lo thc cvent of a partial taking of the Property. unless Borrower a~?d Lender othenvise agra in writing. there shall be applied to the sums sec~ired by this Mortgage such proportion of the pmoeeds as is equal to that prapoetion vvhich the amount of the sumc secured by this Mortgage immcdiateiy prior to the date of taking bears to the fair market value of the Pmperty immediately prior to the Jate of taking, with the balance of the proceeds paid to Bor~ower. ' lf the Property is abandoned by Borrowe~, or if. after nolice by [.ender to Bormwer that the condemnor offers to make an award or settle a claim for damages,_Borrower failc to respond ~o !_ender within 30 days after the date such notice is mailed. I.ender ic authorized to collect and apply~ the procec-ds, at I_ender s option, either to restoration or repair of the Property o~ to the sums secured hy this Mortgage. _ [lnlesc i_ende~ and Borrowe~ olherwice agree in writing. any such application of proceeds to principal shall not extend or pa44po~e the due date of the monthly installmcnts rcferred to in paragraphs 1 and 2 hereof or change the amount of such +nsfallments. ' 16. Eorrower Not Rekased. Eatensibn of the time for payment or mcxfification of amartization of the sumc sxured by tl~~s Martgage granted by I_enJer Io any cuccecsor in interect nf Be~rrower chall n~t aperate to release. in any manner. the liabilily of the original Borrower and Rorrower'~c saccesse~rc in interest. Lender shall not be required to commence proceedings against such successor or refuse to ettend time for payment or otherwise modify amortizat~on of thr ~ums secured by this Mortgage by reauin of any dcmand made by the original. Borrower and Borrower s succescors in intcrect. ll. Forbearaece by i.ender Not a Wairer. Any forhearance by I_e~der in exercising any right or remedy hereunder, or otherwise afTorded by applicable law, shall not he a waiver of or preclude the exercise of any such right or rcmody. The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's right to accelerate the maturity of the indebtednecs cecured hy thic Mortgage. 12. Remedies Camulatf~e. All remeciies provided in this Mortgage arc distinct and cumulative to any other right or rcmeJy under this Mortgage or affordcd hy law or equity, and may lx exercised concurnently, independently or successively. ' 13. Successors aad Assi~ns Bound; Joint aad Sereral i.iability; Captions. The covenants and agreements herein contained~shall bind, and the riRhts Fiereunder shall inure to. the respective succestors and assigns of Lender apd Borrower. subject to the provisions of paragraph 17 hereof. All covenanls and agreements of Borrower shall lie j~iry a~d several. 'il~e captions and headings of the para¢raphc of this Mortgage are for convenience only and are not to be uad to interpret ar define the pravisions hereof. 14. Notice. Except for any notice rcyoired unck~ applicab{e law to be given in anothet manner. (a) any natice to Borrower provided for in this MortRaee shall tie givc:n hy mailing such notice by cerfifled mail addressed to Borrower at ~ the PropeAy Address or at such other addresc as Borrower may designate 6y notice ro i.ender as provided herein, and (b) any ~otice to Lender shall he given by certificd mail. return receipC requested. ~o I.ender s address st~ted hercin or to cuch other address as Le~der may decignate by notice to Borrower as provided herein. Any . notice provided for in this Mortgage shall be dcemed lo havc t~een Ri~•en to Bc?rrower or i_ender when given in the manner designated herein. 15. Uniform MoN~aRe: Covemint La~: Severability. This (orm of mortgage combines uniform covenants for national i ux and non-uniform covenants with IimiteJ varia~ions by juricdiction to constitute a uniform security instrument covering i ceal property. This Mortgage shap be governed by the law of the jurisdiction in which tht Property is located. In ihe ~ event that any provision or clauce of thi~ I?lartgage or the Note conflicts with applicable law, such conflict shall not affect ~ other provisions of this Mortgage or the N~~te which can be given efiect without the conflicting provicion, and to ihis ~ end the provisions of the Mortgage and thc tiote~arc Jeclarcd to be severable. _ ~ 16. dorrower's Copy. Borrower shall t?c furni~hed a conformed copy of the .Note and of this Mortgage at tho time ~ of execution or after recordation hereof. - ( i7. Trsnsfer of the Property: Assumplion. If all or any part of the Property or an interest therein is sold or transferred ~ by Borrower without Lende~ s prior writtrn cansent. escluding (al the creation of a lien or encumbrance subordinate to this Mortgagt. (b) the creat~on of a p~rcb~ce mc~ne}• ~ecurily mterest for household appliances. (c) a transfer h~ devise. descent or by operation of law• upon the ckath of •r jaint tenant or (d1 the grant of any leasehold intercst of threc ycars or less not coniaining an option to purchase, l.ender may, at tender s option. declare all the sums secured by this Mortgage to be immediately due and payable. I_ender.shall h:,ve w~i~~ed such option to accelerate if, prior to the cale or transfer. I_ender and the person to whom the Property ic t~? be.o1J or transfermd reach agreement in wrirting that the credi~ of wch percon is satisfactory to I_ender and that the intere~t pa~•able un the sums securtd by this Mortgage shall be at such rate ac I.ender shall request. if l.tnder has waived the option to accelerate provided in this paragcaph 17, and if Borrower s succasor in interest has executed a wrilten assump~ion agreement accepted in writing by I_ender, Lender shall release Borrower trom all obligations under this Mortgagc and the Note. if Lender exercises such option 1o accelerate. Lender ~hall mail Borrower notice of acceleration in accordanc~ ~~h paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the dat~z the notice is mailed within which Borrower may pay iha sums declared due. If Borrower faits ta pay such sums prior to the expiraticx~ of cuch pericxi. [.ender may, without further notice or demand on l3orrower, invoke any remedies permitted by paragraph IR hereof. ~ NoN-Ur+tFORni CovEN~rvTS. Borrower and Lender further covenant and agree as follows: ; 1 S. Accekr~bn; Reo~edks. E:cep as Prorided ia para~nph 17 hereof. apoo dorrowe~s breacb of auy coveaa~t or ~ a6reeme~t of Eorrower fo tbts Mortss~e. iacludiu~ the corenaots to p~Y whea dne sny sams second by thh Mort~a6e. I.ender ~ pr;or to scceleratio~ s6a11 mail aodce to noROwer as provided ia pin6raph 14 l~ereot specH~: (1) tre brescb:/21 tAe action ~ ~'e4uirsd to enre soc6 bresch; (3) a date, nM kss than 30 days from tbe datt t6e nMice is aiaikd to Eorrower. by ~bic6 s~cb , ~ M,eac~ mmt be crred; aod (4) IAst failure.to cnrc soch brescb oa or be~ors tbc date speciRed iu the notice may resWt ie r ~ acederatiow oE tbe srms secnred by this Mortgs~e. toeec{owre by judicid proceedin~ aad sale of tbe Pmpcrtr. 7Le notice ~ shaN Port6er infonn Eorrower of tl~e ~M to reiasWe d~tr scccleratioe and tbe ri`M1 to assert iw ibe foreclosore proctedie` . the aow-e:istence d a defaWt or any otber defense af Eonoaer to acceleration snd foreclomre. It tbe breacl~ is not crred ou ~ or befort the date specified io the aotice. Lender at Lendtr's optbn may declue al! of fbe sams secsred br thb MortRaRe to be ~ y ~ y y ~k ima~ediatel due aad ysble witbout i~ctber demand and mi~ torecbse tbis M b W i.ender chall ~ be eolitkd to copect iw s~eb proctedia6 sN e:peases nf foreclosure. incl~dia~; bnt ~ot iimitd t0. reaso~able snnrnrv's fees. aed cost~ af docrse~tary erideoce, abstrscls snd ~itk aporis. 19. sor~+nwer's Ri`rt to Rei~stMe. No~withcunding l.ender s acceleration of the sums secured by ~h,s M~rtgage. ~ Borrower shall have the right to have any proceedings hc~un ?~y Lender to enforce this Mongage discontinued at any time ~ ~ ~o~K289 P~E 8Z2 _ - - - - - _ _ ~ ; ~ _ - s --,~.,~~-s . :~~,s..ca ~~4 z!"-~..^~% . _ ;~"~-~'r z.~-~''~ ~s< _ _ " .~-~:+~z,~°~,.~.-~~,_; -