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Home My WebLink About0370 aqrcement or applicable law. Bortowe~ shall pay the amount ot all mor~gegt insur~nce p~emiums in the manner provided under puagraph Y hereof. Any amounts disbursed by l.ender pursuant to this pangreph 7. with interest thereon, shall become additional in- debtedness o[ Borrower securecl by this \/ortgage. U~leu Burrowcr and l.ender agree to other terms o[ payme~t, such amounts shall be payablc upon notice (rom Lcnder to Bortower requesting payment thereof, and shall bear interat from che date o[ disburxment at the rate payable trom time to timc on outsta~~di~g principai under the Note unless payment o( inter~st at suth rate would be co~trary to applicable la~v. in which eve~t such amouots shall bear interest at the hiqhtst ratc permissible u~det applicable law. - Nothing conuined in this paragraph 7 shall requirc Lender to incur any expense or take any actioa hereundet. 8. Inspectiat. Lender mar make or cause to be made reasonable entries upon and inspections of the Property. pro- vided that Lender shall give Borrower noticr prior to any wch inspection specitying reasonable causc therefor related to L.ender's interest in the Property. 9. Condemnation. The practcis o[ a~y awatd or claim tor damagts. direct or consequential, in connection with any condemnation ot other wking ot tht Property, or part thereof, or tor converance in lieu ot condemnation, are hereby as- signed and shall be paid to I.ender. In the event oE a total aking oE the Property, the proceeds shall be applied to the sums secured bp this riortgage. with thc excess, if any. paid to Borrower. In the event of a partial taking o( the Property, unless Borrower and Lender otherwise agree in writing. then shall be applied to the sums xcured by this tiortqage such proportion of the proceeds a; is equal to that proportion which the amount oE the ~uau secured by this Mor~qage immediately prior to the date of taking bears to the tair muket ~•alue of the Propeny immediately prior to the date ot taking, with the balance ot the pro- ceeds paid to Borrower. lf the Property is abandoned by Borrower, or i[. atter notice by Lender to Borrower that the condemnor offen to make an awud or xtde a daim tor damages, Borrower fails to respond to Lender within 30 days after the date such notice is mailed. Lender is authorized to collect and applr the proceeds, at I.ender's option, eithet to restoration or repair o[ the Properey or to t6e sums secured by this Morcgage. Unless L.ender and Borrower otherwix agree in writing, any such application of praeecls to principal shall not extend or postpone the due date of the monthly installments rettrred to in pangraphs 1 and 2 hereof or change the amount oE such installments. 10. Borrower Not Relea~ed. Extension of the time for payment or modification ot amorti:ation of the sums secvred b~ this ~tortgage gnnted by I.ender to any successor in interest of Borrower shall not operate to release, in anr manner. the liability oE the original Botrower and Borrower s successors in interest. Lender shall not be required to commence pmceedinqs against such successor or refuse to extend time for payment or other~vise modi[y amortization o[ the sums se- cured by this ~tortqaqe by reason of any demand made by the origina! Borrower and Borrower's successors in interest. 11. Forbearance br Lender Not a Waiver. Any forbearance by I.ender in exercising any right or mmedy hereunder, or other~+ise afforded by appliuble law, shall not be a waiver of or preclude the erercise of any such right or mmedy. The procurement o( insurance or the payment of taxes or other liens or ct?arges by Lender shall not be a wai~•er of Lender's riRht to accelente the maturity of the indebtedness secured by this Mortgage. 12. Remedies C.lunulati~e. All remecties provided in this ~tortqage are distinct and cumulative to anv other right or rrmedy under this Mortqage or a[Eorded by law or eyuity, and may be exercised concurrently. independently or successively. i3. Succenors aad Aatigns Bound: Joint and Se~eral Liability; Captions. 'Che co~'enants and agreemenu herein rnntained shall bind, and the rights hereunder shall inure to, the respettive successors and assigns o( I.ender and Borrower. subject co the provisions of paragraph 17 hereot. All mvenanu and aqreemenu of Borrower shall be joinc and se~~eraL The taptions and headings of the paragnphs o( this 1ltortgage are tor con~•enience only and are not to be used to interpret or define the provisions hereof. 14. Notice. Except ior any notice required under applicable law to be given in another manner, (a) an~ notite to ~ Borrower pro~•ided for in this ~tortgage shall be gir•en by mailinq such notice by certified mail addresseci co Borrower at the Property Address or at such other address az Borrower may designate by notice to I.ender as ~m~~ided herein, and (b) any noeice to Lender shall be gi~•en by cereified mail, return mceipt requested, to Lender's address stated herein or to such other address as Lender may designate by notice to $otrower as provided herein. Any notice pro~•ided for in this ~iortgage shall be deemed to have been gi~~en to Borrower or Lender when gi~en in the manner designated herein. ' 15. Uniform Mortgage; Go~erning Iaw; Sererabiliq. This (orm of mortgage combines uniform co~•enanu for na- ~ tional use and non-uniform to~enants with limited variations by jurisdiction to eonstitute a unifortn security instrument ; cocering real property. This Mortgage shall be gocerned by the law of the jurisdiction in which the Property is located. ~ In the event that any provision or clause of this ~tortgaqe or the Note conflicts with applicable IaN, such conflict shall not ! a([ect other pro~isions of this Mortgage or the Note which can be gicen e(fect without the con[licting provision, and to ~ this end the pro~•isions o[ the ~iortgage and the Noce are dedared to be severable. ~ 16. Borrower's Copy. Borrower shall be furnished a conformed copy oE the Note and of this \fortgage at the time of execution or aEter recordation hereof. ~ 17. Transfer of the Properq; Assumption. If all or any part of the Property or an interest therein is sold or trans- ~ terred by Borrower without Lender's prior written consent, exduding (a) the creation of a lien or encumbrance subordinate to this ~iortgage, (b) the creation oE a purchase money security interest for household appliances, (c) a transEet by devise, descent or b} operation of law upon the death ot a joint tenant or (d) the grant of any leasehold interesc of three years or less not containing an option to purchase, I.ender may, at I.ender s option, dedare all the sums secured by this ~fottgaqe to be immediately due and payable. I.ender shall haee waived such option to accelerate if, ptior to the sale or trans[er, I.ender ~ and the person to whom the Propert) is to be sold or transferred reach aqreement in writing that the rredit o[ such person is satisfactorr to l.ender and that the interest pa)able on the sums secured bq this ;~fortgaqe shall be at such rate as Lender shall request. Ii I.ender has waived the option to accelerate provided in this paragraph 17, and ii Borrower's successor in ~ interest has executed a written assumption aqreement accepted in writing by Lender. Lender shall release Borrower from ~ all obligations under this Mortgage and the ]liote. ~ If Lender exercisa such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. Such notice shall provide a period of not less than 30 days irom che date ehe uoeice is mailed within ~ which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period. Lender mar, without Eurther notice or detnand on Borrower, invoke any remedia permitted by paragraph 18 hereoE. ~a I~Of?-UNIFORM Cove~wh-rs. Borrower and Lender further mvenant and agree as (ollows: ~ ;y 18. Aoceleneion; Ranedies. Fscepe as providod in paragraph 17 hereof. upon Borrower's breach of an' rnvenant or ~ agreemeat o[ Borrower in this Mortgage, including the ~~~u w wr whrn due anr sums secvred by this Mortgage. ~ Lender prior to auelention a1u11 mail notice to Borrower as prorided in paragnph 19 hereof specitring: (1) the bnach; the ution required to cure wch breach; (3) a date, not kss than 30 daya [rom the da[e the notice is mailed to Borro++er, ti b~ rvhich such breach must be eured; and that failure to cure such breach on or before t6e date specified in the notice may ~ result in acoeleration o[ the wms ~ecured by this Mortgage. Eoredowre by judicial procceding and sale o[ the Properq. The ~ notice sh~ll turther in[orm Borrower oE the right to reinwte afttr aceekration and tLe right to aaeert in tht toreclosure ~ proceeding the noa-existence of a de[ault or any o[Ler defense of Borror+er to ucelention and foredosura If the bteach i~ not cured on or before the date speci[ied in the notice, I.eairr at I.endtr's option may dedare al! oi ehe sums secured bY this ~ Mortg.~ge to be immediatd~ due and pa7able writhout farther demand and ma~ [oreclose this Moregage by judicial proceed- ~ ing. Lender slull be mtitled to collect in such proceeding all apenaes oE [oreclawre. including. but noe limited to, rtaion- ~ abk attorner's (ed, and coas of documentary evidence, aMtracu and title reports. _ ~ p ~Vi fr~G~ ~ ~O ~~~K ; , , - - - - - - - ~:r', 4 ~ ~.~`~~:~rr ~ : : c~,~~~ w ~ 1 ns ~ ~ ~