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Home My WebLink About0284 . . . ,j ~ ~ - . ~ g L.e,~de~'s writteo agcoeme~t or appiicabk faw. Elormwa ~hatl pay the amount of ap motigagc insunt~ca pttmiur~u in the maa~r provided under paragraph 2 hereot. • Any amounts disbursed by l,e~de~ pursuant to tha pa~agnph 7. with interest thercon. shall become additiona) indebted~ess ot Borrowc~ secur+cd by lhis Mongaae. Unlcss Borrowe~ and I_ende~ agroe to Whe~ terms of payn~en~ such amounts shall be payabk upon nc~tice from [.cnder to Bomowcr requesti~g payment thereof. and shaD bear inter~t frnm the ~ date of d'ubur~ement at the nte payabk f~om time to time on outstsnding principal unde~ the Note unlas payn~ent ot ~ inter+est at such rate would be contnry la applicabk law, in which eveot such amounts shall bea~ interest at the hi~st nte permisaibk under applicabk law. Nothing cootained in this paragraph 7 shall require I.ender to incur any eapet»e or tate any ictan hercunder. ~ , s. ls~pectio~. i~nder may make or cause to be made reasonabk entries upon and it?spections of the Ptoperty. provided that l.onder shall give Borrower rwlice prior to any such inspection spocifying reaso~abk cause therefor related to Lmder's interest in the Pooperly. - 9. Cordetiqfbw, 'fhe proceeds of any awand or claim for damaga, dircct or consequeatial, in rnnnxtio~ with sny condemnateon or other laking of the Property, or part thereof, o~ for conveyance in lieu of condemnation. are he~eby sssigned and shall bc paid to Lender. ~ in Ihe evrnt of a toial taking of tlx Property, the proceeds chall be applied to the sums secured by this Morigage, with the excess, if any, paid to Borrower. In the cveet of a partial iaking af the Property. unless Borrower and Lendet othenvise agra in writinR, there shall be applied to the sums secured by this Mongage such proportion of the prooeed: as is equal to that proportian Nhich thc amount of thc sume secu~ed by this Mortga~te immediately prior to the date of taking bean to the fair market value of the Propcny immediztely prior to the datc of taking, with the balana of the proceeds paid to $oroqwer. 1t the Propeny is al~andoned by Borrower, or if. after notice by I.ender to Bomower that the condtmnor otfets to make an.awa~d or stttle a claim (or damages. $c~rrower fails to rcs~nd to I.ender wi~hin 30 days after the date such notice is ~ maikd. I.enJK ix authorized ta callect and apply the proceeds, at Ixnder's option, either to restoration or r~epair of tbe Propttty or to the sums secured by this Mortgatte. ~ Unless Lender and Borrowe~ otherwice agree io writ~ng. any such applica~ion of proceeds to principal shall not extend or postpone the due date of the monthly inst~llmcnts rcferrcd to in paragraphs 1 and 2 hereof or change the amount of such installments. ~ 10. dorrower Not Rekased. Extension of the time for payment or modiflcation of amortization of the sums securcd by this Mortgage graoted by i.ender to any cuccecsar in interect of Borrower shall not operate to release, in any manner. the liability of the original Borrower and Bc•rrowcr e successorc in interest. Lender shatl not be requircd to commence proceedings against such successor or refuce to ertend time for payment or otherwise modify amortizal~on of the ~ums secured by this Mortgage by reason of any demand made by the original Borrower and Borrawer s successors in interest. ll. Forbearance by I,tnder Not ~ Waiver. Any forhearanre by l_ender in exercising any right or remedy herounder, or otherwise afiorded by applica6le law, shall not be a waiver of or preclude the erercise of any such right or rerr~edy. The procurement of insurance or the payment of tares or other lierts or charges by Lender shall not be a waiver of Lender's right to accelerate the maturity of the indebtednecs cecured hy thic Mortgage. l2. Remedies Comuhti~e. All oemaiies provided in this Mortgage are distinct and cumulativ~ to any other right or remedy under this MortRage or aBorded by law or equity, and may be exercised concurrently, independently or s~~ccessively. ~ 13. ~uecessors u~d AssiRos Bound; ,Joinf and 5erenl i.iab~7ity; Capdons. The covenants and agreements herein contained shall bind, and the rights hercunder shall inure to. the respective successors and assigns of I.ender ae~d Borrower. subject to the provisions of paragraph 17 hereoi. All covenants and agreements of Borrower shall be joiry and several. 'The captions and headings of the paragraphs c.f this Mortgage are for convenience only and are not ta be t~~ed to interpret or defrne the provisions herec?f. 14. Ndice. Except for any notice reyuired under applicabk law to be given in another manner, (a) any notice to Borrower provided for in this Mortgaee shall be given by mailing such notice by certitied mail addressed to Borrower at the Property Address ar at such othcr addres~ as Borrower may designate by noiice io i.ender as provided herein, and (b) any notice to Lender shall be given by certified mail. return receipt rcquested, to i.ender s address stated herein or to such other address as Lender may decignate by notice to Borrower as provided herein. Any.notice provided for in this ~tortgage shall be deemed to havc t~een {tiveo to Borrow~er or Lender when given in the manner designattd herein. 15. Uniform Mort~a~e; Governi~ Law: Severability. This form of mortgage combines uniform covenants for national use and non-uniform covenams with limited variations by jurisdiction to constitute a uniform security instrument rnvering real property_ This Mortgage shall be gove~ned by the law of the jurisdictien in which tbe Property is located. In the event that any provision or clause of thi~ Mortgage or the Note conflicts with appticabie law, such conflict sha11 not afftct other provisions of this Mortgage or thc Notc which can be g'+ven effect without the conflicting provision, and to this end the pmvisions of ~he Mortgagc and the Note arc ~k~clared to t~e severabla 16. dorrower's Copy. Borrower shall be furni~hed a contarmed copy of the Note and of this Mortgage at the time of execution or a(ter rerordation hereof. 17. Transfer of t6e ProQeriy: AscumPlion. 1f al! or any pan of the Property or an interest therein is sold or transferred by Borrower without L.ender s prior writtrn ~onsent. excluding (al the creation ot a lien or encumbra~ue subordinate to ~ this Mortgage. (b) the creahon of a purcha~c money ~ecurity interest for household applianees, (c) a transfer hy devise. . descent or by operation of law upon ~he Jeath of a joint tenant or (d) the grant of any leasehold interat of threc ycars ar less ~ not containing a~ option to purchase. I.ender may, a~ I_ender's option. dtclare all the sums secured by this Mortgage to be immediately due and payable. Lender shall have N•ai~~ed such option to accelerate if, prior to tht cale or ~ransfer. I_ender and the person to whom the Property ic t~. be cold or transferred reach agrcement in writing that the credit aF such per~on is satis[actory to ~encier and that the inter~ct pa}•able on the sc~ms secured by this Mortgage shaQ be at such rate a~ Ixnder shall requcst. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interat has executed a written assumption agreement accepted in writing by Lender, Lender shall releasc Borrower from aIl obligations uncfer this Mortgage and the Note. If Lender exercises soch option to accelerate, !_ender shall mail Borrower notice of acceleration in accordanc~ ti~~h paragraph 14 hercof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed w•ithin which Borrower may pay the sums declared due. (f Borrower fails to pay such sums prior to the expiration of cuch peric~d. L.ender may, without further notice or demand on Borrower, invoke any remedies pe~mitted by paragraph 1R ?xreoL , Nort-UrrtFORtH CoverretvTS. Borrower and Lender further covenant and agree as follows: la. Accderatioa; Remedks. E:cept as pmvided io para~~nph 17 hereof, opo~ Sorrower's 6reach of ~oy co~caant or a`reeweet of Eorrower in this Mort~s~e, includias fhe co~cnsots to pa~ wAew doe s.y soms secared by t1~ls Mor1~a`e. I.ender prior to accekration. sbaq a~ail notke to aomo~rer as prorWcd ia parasnph 14 hereof specityia=: (11 the breacb: (21 ~Ae sctbn reqnlred to ctire sscb 6rese6; (3) a dste. aot les tlun 30 dars trom the date t6e aotice M eta8e~ to ~rower. by which snc~ ; bresc6 ~uwt be c~red; aed (4) iba! fWurr fo con srcb breach oe or before t6e date spccf6ed ia thc notkt mar resolt ia sccekratioe of ttie swss securrd by t6k Mort~a~e. to~ectosurr by ~dkid procesdi~ a~i sale of tbe Prupe~. 71~e notice sba~ fYrtber ieform aorruwer ot tbe ri~IM 1o relAStste ~ter sccckrsdon and t6e ri~bt to asse~t ia the foreclosure ~roeeedi~ tie uon-existeuce of a defsnM or ~y other detcnse of Borrower to acceterstiow aad toreclosere. [f tbe 6t~esc~ is sot crred oa ~ or before the dste speciRed io tbe notice. I.ender at l.ender's option may dechre aM of tbe saias secrred by tl~k Mo~a~e to be - ims~ediatdy dne and psyabk wiNaot turiher der»and and may foncbse thb Mwtaa~e Lr f uditW pr~ocee~. Lender chall be eetFtled to coHeet i~ s~ procecdlnt sM e:pensa oi forecbsore. iaclndia~. bet ~ot Ymiled to, rtasooa6ie mvrnrv's fces, asd costs ot doc~reeotary crideoce, sbstracts and titk nports. 19. Dorror?er's Rl~ht to Reia~tste. Nc~twithstanding Lender's acceleration of the sums secur~cd by th~s Motigage, Borrower shall have the right to have any proceedings hegun hy I.endtr to enforce this Mortgage discontinued at any time i soc,~ 295 Pncf `Z$~ ~ t~'t.; . ~--•-.~.._x__._ . r'~'"`