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Home My WebLink About0707 Le~der's written agrcemeot or applicabb law. 8orrower shall pay the artwunt o[ all mongsge insuranoe prcmiums in tbe manner provided unde~ paragraph 2 heroof. Any ama~nts disbuned by t_cnJer pursuant to thia paraa~aph 7, with idttrat' lhetean. sha~~ become add~~iond ~ indeb~cdness af Borrowc~ secu~ by this Mongage. Unless Borrov?~r and I_enJer agroe to other tern?s of payment. such unounts shal) be payeble upon ni~ticc from 1.ender to Bprrowc~ reques~ing payment iherrnt, and shall bear interest from the date of disbursement at the ratc payabk from titm'to time on outstanding principal under the Note unkss paymait ot i~terest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the hi~ rate pertnissibk under applicabk law. Nathing cantained in this paragraph 7 shall rcquirc Leede~ N IQ~r any expense or take any action herounder. 8. Isspecfio~. i.ender may make or cause to be made reasonabk c~trieS upon and inspectior~s of the Property. provided that t.ender shall give BoROwer notice prior ta any such inspection specitying reasonabk cause theretor rclatcd to Le~der's inlerest in the Property. , 9. Coedemnation. The prcueedc of any award or claim for damages, direct ar consequential, in conncction wilh ~ny condemnation ar other taking of the Property, ~~r part therrnf, a~ for rn~veyance in lieu of condemnation, are hereby assignod and shall be paid to I.ender. in the eve~t of a tatal taking of the Pmpeny. the prcxeeds shall he applied to the cums secured by this Mo~tgage, with the excess, if any, paid ta Bonower. In thc cvent of a partial taking of ~he Property, uoless Bormwer and I.ender athervvise agree in writing. therc shall tx applied !o ~he sumc stcurcd by this Martgage such proportion of the procads as is equal to that proportio~ which the amount oi the sumc cecured by this Mongage immediately prior to 1he date of taking bears to the fair market value of the Pmpcrty immedialely prior to the date af ~aking, with the balance of the proceeds paid to Bornower. ~ if the Property is abandoned by Borrawer. or if. atter notice hy I.ender to Bormwer that the condemnor offers to make an award or settle a claim for damages. Borrower fail. to n~c~+c~nd to l.ender within 30 days after the date such notice is mailed. Lender is authorized ta collect and apply ~he prc~ceeds. at I.ender's option, either to restoration or repair of the Property or to the sums sccured by Ihis M~rlgage. Unlesc I.ender and Borrower otherwi~e agre~- in w•riting. an}• such application of prexeeds to principa) shall not extend or postpone the due da~e of the monthly installmcnts referred to in paragraphc 1 and 2 hereof or change the amount of such installments. l0. Borrower No! Rehased. Extention ~f the time for payment or modification of amortization of the sumt secured by this MartRage granted by l.ender to any cu~cecsor in imerect of Bo~rower shall not operate to release. in any manner. the liabilily of Ihe origina) Borrower and Borrower'c succescora in interest. i_ender shall not be required to rnmmence proceedings against such successor or refuce to ertend time for payment or othena•ise modiFy amortization of the wms secured hy this Mortgage by rcau~n of any demand made by the orieinal Bormwe~ and Borrowers succescors en in~erect. 11. Forbearance by I.ender 3~bt a Waivcr. Any fi.nc~aranrc by 1_cnder in erercising any right or remedy hereunder, or otherwise attorded hy applicable law. shall n~t he a waiver of or preclude the exercise of any such right or remtdy. The procurement of insurance or the pavmcnt af tares or other liens or charges by I_ender shall not he a waiver of Lender's right to accelerate the maturity of the indebtednecs ~ecurcd hy this Motigage. l2. Remedies Cnmulsti~e. All remeeiies provided in this Morigage are distinct and cumi~lative to any othet right or remedy under this Mortgage or affordeJ by law ar equity. :~nd may be exercised concurreotly. independently or successively. ~ 13. Snccessors and Assq~as Bound; .]oint s~nd Serenl I.iability: Captbns. The covenants and agreements herein con~ained shall bind, and the riRhts hercunder shall inure to. the respective succes.u~rs and assigns of Lender at~d Borrow~er. subject to the provisionc of paragraph 17 hereof. All covenants and agreementc of Borrower shall be joiry and uveral. 'il~e captions and headings of the paragraphc c.f thic Mortgage are for convenience only and are not to t+e used to interpret or define the provisions hereof. la. l~iotice. Except for any no~ice required unJer applicable law to be given in another manner, (a) any notice to Borrovrer provided for in thi~ Mortga~e shall bc given by mailing such notice by certified mail addressed to Borrower at the Property Ae)dress or at such alher addresc ac Borrower ma~ designate by notice to i.ender as pmvided herein, and (b) an~~ notice to Lencier shall t+e given by certificd mail. retarn rtceipt req~ested. to i.ender s address stated herein or to such other address as Lender may decignate M~ n~tice t~• Borrower as provided herein. Any notice pmvided for in this Mortgage shall be deemed to ha~~c becn Qn~en to Bc?rmwer or l.cnder a•hen given in the manne~ desig~at~d herein. I5. Uniform MoriRaRe; Co~ernin~: Iaw; Se~erability~. Thi~ form of mortgage combines uniform covenants for national t~se and non-uniform rn~•enantc with IimiteJ variations h}~ jurisdiction to constitute a uniform securiry instrument covering real property. This Mortgage shall be govrrned h~• the law• of the jurisdiction in which the Property is located_ In the event that any provision or clau~e of thi. Alortga¢e nr the N~~te rnnflicts ~ith applicable law, such conflict shall not affect ; other provisions of this Mortgage or the N~~tr which can be given efTect without the conflicting provision, and to this ` end the provisions of thc Mortgage and the '~iote am declared to he severable. 16. Borrowe~s Copy. Borrower ~hall fx: [urni~hed a cnnformed copy of the Note and of this Mortgage at the time ' of execution or after recordation hereof. 4 17. Traasfer of t6e Property; Assumption. Tf all or am~ part of the Property or an interest therein is sold or trancferred by Borrower without I.ender's prior wriurn conccn~. excluding lal the creation of a lien or encumbrance subordinate to 3 this Mortgage. (b) the creation of :1 (~Uil'F1JCP, mone~• cecurity interest for household appliances, (c) a transfer h~• devise. 3 descent or by operation of law• upon the dcath c~f a i~~mt tenant or (d? the grant of any leasehold interest of threc }•cars or lecs ~ not containing an option to purchase, [_ender ma}~_ at l.ender'c option. declare all ~he sums secured by this Mortgage to be ~ immediately due and payable. I.ender shall have Naived such option to accelerate if, prior to the aale or transfer. [_ender ~ anJ the person to whom the Property ic t~. tx .o1J or transferrcd reach agreement in writing that the credit of such person ~ is satisfactory to Lender and that the interr.t pa~•able on the sums secured by this Mortgage shall be at such rate a~ I_ender ~ shall request. if Lender has waiveci the option to accelerate provided in this paragraph 17, and if Borrower's successor in ~ interest has eaecuted a written assumption agreement accepted in writing by I.ender. Lender shall release Borrower fmm all ~ - obligations under this Mortgage and the Note. If Lender exercises such option to accelerate_ I.ender ~hall mail Borrower notice of acceleration in accordancc ~th ~ patagraph 14 hereof. Such notice shall provide a peric~d ni not less than 30 days from the date the notice is mailed w~ithen ~ which Borrower may pay the sums declared due. 1f Borrower fai{s to pay such sums prior to the expiratinn of tuch penod. ~ I.ender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph IR hcreof. ~ ~ NoN-UNtFOarN CoveN~NTS. Borrower and Lender further covenant and agree as follows: 18. Aectler~ioe; Remedles. Except as pmvided in pa~raph 17 hereof. opoa Eorrowe~s breacb of any co~ewant or - agreemcnt of Borrower in this Mortg~e, includi~ the corenants to pay ~+hen doe sny snms secnnd br this MortpRe. I.endcr ~ prior to acceleration s1~aU mall ootice to dorrower ~s prorWed ia panarapl~ 1~ 6ereof sp~cifyias: (1) the breacA: (21 the action ' required to core wcb brcach; (3) s date. not less t6an 30 days tmm the dste the notice b ma~ed to Eormwcr, by whicb wch ~ bresch u~mR be cored; and (4) that fdlure to cure such brcach on or 6efore tbe date specified ia ibe notlce may result in ~ ~ccderation n( tbe soms secared by thts Mort~age. foreclosun by jndkial proceedir~ aad sale ot the Prope~ty. The notice ' s6a11 Portber inform Borwwer of t6e right to reinstate after accckration and tbe rigl~t to ~ert ia tl~e torecbsure proceediut We non-existeace of a defauk or any other detense of Bonower to sccekration and foreclasure. IE the breacl~ b oot cured on ~ ~ or before the dah s~ecified in t6e notice, Lender ~t l.ender's option may declue aU of tbe snms secored by this Mort~s~e to be immediatdy due and payabk ~+ithou/ tnrther demand and may foreclost this Mo~a~e by judicW proceediu~. Lender shall be eofitled ~o collect iu wc6 proceedin~ aN expenses of foreclosure. includiu~. but oot limited to, rcasonsbk att~,rney's fees. and costs of docnmentary erideace. abstracts and tiik reports. 19. ~ormwer's Ri6ht to Reinstate. Notw•ithctand~ng I.ender s acceleration of the sums securcd by th~s M.~rtgage. - Borrower shall have the right to have any proceedmgs he~un hy Lender to enforce this Mortgage discantinued at any time ~s aoc~ 292 FAGf 7~? ~ , - - - - Y ~ . ~ ~a„~`s„z~~~ ~~,~-~-H~ ~ ~ . ~~~a ~~~~°'~~w ~ r-~-~ , , ~ ~ ~ `+~`y ~ ~ $ , r_ ~ ~~'~~~'G ~~.r~ S , ~ ~ x ~ . h _