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Home My WebLink About0147 . _ . aqreement or applicable law. AorroN•er ~t~all pay the amount o( alt mortKaKe insurance premiumc iii 1,}?c,~nner pro~•idcd under paragraph 2 herro(. ~ Any amounts disbu~sect b,r• Lcndcr pursuant to this ~a~aKraph 7, with interest thereon. ~hall bccomc additional in- debte~lness of Borrower securai 1?~• thi+ \[c~nRaRe. Uulcu Aurruw~e~_ and Len~ter aRree to oiher termc o( pa}?ne~u, such amouuts s1~a11 be pa~•able u~wn u~uicc (rom l.eiide~ to Borrower tequeuing pa~meut thr~r~~(, a~id .i~atl brar interest (rom the datc o[ d'ubursement at the rate payable irom time to time on outstaodiuK priucip:~t under ehc \otr uolcs. ~~a}ment o( i~terest at such rate M•ould be contrary to applicable law, in whirh e~•ei~t such amow~ts stwll berr inten~t at t4e hiRhest r.~~r prrmiuible under applicable laN•. 1o~hi~~R coutained in ehis paraRraph 7 shall require Lendrr to incur am• expense or take an~• action hereunder. 8. Iaspection. Lender ma~• make or cause to be made reasonable entriec upnn and inspecti~~n~ of the Property, pra vided that I.ender shaU gi~•e Borruwer ~~otice prio~ tu a~i~• such ins~~ection s~scci(}'inR rr.1~071:/I~If tau+e therrfnr related to l.ender's interest in the Proptrty. 9. Condemnation. The proceals o[ any award or daim (or damaRes, direct ~r con,equential. in co~u~ection with any condemuation or other taking of tl?e f'roperty, o~ part thereoL ~?r for com•e~ante in lieu ot caudrmna~ion, are hereby as- ~iRuecl and shaU be paid to Lencler. , lii che e~•ent oi a totat taki~~g ot the Propert}'. the proceeds sha1) be appliecl to the sums setured b~• this ~IortgaRe, x•~th the excess, if a~~}•, paid to Borrow•er. ]n the e~~ent oE a parteal taking o( tl?c Pro~~rrt~•, unless Borrow•er and l.ender other~i.e aqtee in MritinR, there shall be applied to the sums secureci b~• this \IortKaRe such proportion ot the prcxeeds a; is equal to that proportion which the amount of the sums secured b~• this \fortRaKr immediately ~rior t~ tt~e date oE takinR bean to the [air market ~•alue of che P~operty immediatel?~ prior to the date ot takiuR. hith che bal:~nce ot the pro- ceeds paid to Borrower. IE the Property is abandoned b~ Borrower, or if, aEter notice by [.ender to BorroH•er that the condemnor ot(ers to make an aNard or xttle a daim tor damages. Borroher fails ~o rec~ond to I.ender within 3~ da~-s afeer the date such notice is maileci, Lender is authorizcd to collect and applv the proceecls. at Lendei s optio~+. eithet to restoracinu or repair o[ the Property or to the sums setured b~ this ~(ortqage. , Linless Lender and BorroHer otherwise agree in writing, a~~y such application o( prrxeeds to principal shall not extend ~u F~stpone the due date o[ the monthly installments Te(erred ec~ in paraRraphc 1 and ° herrnf or chan~e the amount of such installments i0. Borrower Not Releaxd. Extension of the time for pa«nent ~r moditicaeioi~ of amorti~ation of the sumc secured b~- this \tort~ge granted b~ Lender to an}• succeasor in interest of Borro~~•er s}~all ~mt operate to relrase, in any manner. thr liabilit~• of the oriRinal Borroher and Aorro~~•er'c success~r~ in intrretit. Lender til~al[ ~iot be ree~uired t~~ commence prexeediuRs aRainst such successor or re(use to extend [ime for pacment ~r ~therN•ice m~xlif~~ anturtilati~n ~~f tfie sums se- curetl b~• thic ~(ortRaRr b~• reau~n o! :u~~• drm~~id made be the ori~inal B~~rrower and BormNCr'c tiucce~u~rs in interest. 11. Fmb~arance by Lender ;~ot a Waiver. :1n}• forbeannce b~• Lender in exercisinR an}~ right or remede hereunder, or otherMise af(orded b~• applicable IaH. shall not be a wai~•er ~~f or precliide the esercise of an~• such right or remccl~•. The procuremene of insurance or the pa.~ment of ta~es or other lieuc or char~ec b~~ Lencier shalt unt be a~rai~er of I,ender's riRht to accelerate t6e maturit~~ ot the iudebteclness ~ecurecl b~• thic \fortRaRe. 12. Remedies Cumulative. :~ll remrdies pro.•idecl in this 3tort~a~c are dititinc~ arid ~umulatire tn aiiv r~ther riRht or remcYl~ w~der this ~lortpage ot afforded ~ laN or equit~~, and ma~ !~e exercised concurrenth~. inde~~endentl~~ ~~r wccessi~~eh•. 13. tiuccessors and Assigns Bound: Joint and Se~•eral Liabilit~; (aptions. 'I~he cmenants ancl aKreements herein i contai~~cd shall bind, at~d the riKhts hcrcundcr sh:~ll-iuurc to, thr res~~ecti~•c succc,uirti and as~iy;us n( Lendcr aud Bormwer. ! subject to the pro~•isioos oi paraRraph 17 hercrf. _\II cm•enants :uid a~;reemeuts of Rorr~w~er shall be jc~int and se~eral. 7~he ~ ca~,tions and headings of ~he paraRraphs o( this J(o~tga~e are for ~ome~iireue o~il} ~~~d are not tn be used to interpret or j elefine the proti~isions hereof_ k 14. ~oticr. Except for any notice required under applicable law to be ~i~•en in an~~ther manner. (a) anv notice to ~ BonoNer prm~ided for in this ~tortRaRe shall be Ri~en b~• mailiu~; such notice hc certifi~d mail addrr+~ed to Burro~cer at ( the Prc~~ett~~ :\ddress ot at such other address as Borrot~er ma~~ de.i~{nate b~• notice to Lender as pro~ ideel herein. aud (b) ' an}• notice to Lender shall be qicen b}~ certified mail. retotn recci~t requested, !o I.endrr's adclress stated herein or to suth ~ . other address ac Lender may desiqnate by notice to BorroMCr at pm~•ideci herein. :~m ~~otice pro~ided for in ehi~ ~IortRaRe j shall be decmed to ha~•e been Ri~•en to Borrower or Lender ~~•hen Ri~en in the ma~u~er desiRnated herein. 13. Uniform ~fortgage; Governing I.aw; Secerabilit~. This (orm of mortRaRe combines uni(~~rm co~euants for na- E tional use a~tid non-uni(orm cocenauts Nith limited ~ariationi b~~ juriuliction to constitute a uniforrn ,ecurie~ ir~strumene ; co~•eriuR real propert~-. Thic ~(ortRaKe shall be ~o~•erned b~• the lai. of the juris~lictinn iu ~,•hich the Propert.• is Incated. ~ f In the erent ihat an~• procisi~n or claute of this ~Iortpape or the \ote conflicts ~rith aE~plicible l.~r.. such con(lict shall not atfect other pro~•isions of this ~torty,aRe ~?r the \ote ~hich can be ~i.•en etfect Nithoiu thr c~?nflictin~ pro~ision. and to ~ this end the pro~•isions ot the ~IortgaRe and tF?e \'ote arc decl:ired to 1~e se~•erable. i 16. Borrower's Copy. Borro~.er shaU be (urnished a c.~nformed copy ot the \ote and of this \(ortRa~e at the time ~ nf execution or after recordation hereof. ~ 17. Transfer oi the Propert~•; Assumption. If all or an~• part of the Pro~ertr nr an interest iherein ic ~Id or trans- I ferred b.• RorroMer Nithout Lender's prior Mritten consent, excludin~ (a) the creation of a lien nr encumhrance subordinate to this \tortRaRe, (b) the creation of a purchatie m~?ne~• securit~ intere~t tor household `appliances. (cl a tranc(er b~• de~ise. descent or b}• operation law• upon the deatli ~f a joint tenant or (d) ti~e Rrant of an~ leaceh~ld intereci ~,t three~~•ears or ` Icss not containin~ an optiorz to purchase, l.c~ider ma~~, at I.ender's nptinn. dedare all the sums secured b~ thi~ ~fortRaqc to be immediately due and payahle. Lender shall ha~~e Mai~°ed such option to ac~elerate if, prior to the <ale ~~r transfer. Lender j and the person to whom the Propert~• i~ to be sold or transferred reach aRreement in Hriting that the credii o( such person is satistactory ~o Le~~der and that the interest Pa}able on the sums secured by this ~tortRaRe shall be at such rate as Leader shall request. If Let?der has Haivec! the option to acce]erate pro~•ided in this paraRraph 17, and if Borrower's successor in interect has executed a rvritten assumption aRreement accepted in writinR bc Lender. Lender shall release Borro~er irom all obliRations under this ~fottgaRe and the :~ote_ if Lender exercises such option to accelerate, Lender shat) mail Borrou•er notice of accelerati~n in accordance xith paraf;raph 1-1 hereof. Such notice sha11 provide a period oi nnt Icts than 3~~ da~~ from the date the notice is mailed ~ithiu ~hich BorroMer m:~}• pa}• the sums declarrd dur. If $orrower fails to pae such sumc prior to the ex~iratir,n ot such period. Lender may, without turcher notice or demand on So~roNer, i~»~oke am• remedies permitteci b~ paragraph 18 hereof. NON-UNtFOR\i Co~~e~w~-rs. Borrower and Lender [urther co~enant and agree as (olloMS: 18. Accelention; Remedies. Except u pro~-ided in pangraph 17 hereot. upon Borrower s breach of an~ covenant or agreement oE Borrower in this titortgage, induding the co~•enan[s to paj• w•hen due an~ sums secured b~ this ~torlgage, Ltnder prior to acceleration shall mail notirt to Borrower u pro~•ided in paragraph 14 hereo[ specit~~ing: (1) the breach; (2) the action required to cvre such breach; (3) a date, not Iesa than 30 da}•s from the daee the notice is mailed to Borrower, by which such breach must be cvred; and (4) that (ailure to cure such breach on or before the date specified in the notice may rewtt in acceleration of the sums secured bY this ~lart~ge, foreclosure by judici~l proceeding and sale of th~ Pro~xrty. The notice shall (ar~her inform Borrower ot the rig6t to reinstate after acceleration and the right to acsert in the [onclosure proceeding the non-existence of a deiault or any other de(enx of $orrower to accelention and toreclosure. If the breach is not cured on or before the da~e specified in the notice, Lender at Lender's option may declare alt of the sums secured bv this bfortgage to (x immtdiatelv due and pay~able hithout [urther demand and map (ornlosr ~his 1(ortRa~e by judicial ~?roceed- ing. Lender sbal! lx entided to collect in such p*oceeding all expenses of foreclosure, including, but not limited to, reason- abk utorney's tees, and costs of documentary e~•idence, absuacts and tide reports. ~ORf ~ ~ACi 1~7 : . _ - ~ R...-~~__'-~__~"_-'~ . - . F~ _ . . ~ K'~` ~~_~e~~,~.'~...~.- *e-a'',__. . . . . i.._, __e"