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Home My WebLink About0383 . , . L.eader's writtea aareement or applicabb 14w. Barawu ~lull pay tbe amount d ad mortsa~ imsuraaca prcmium~ i~ tl~e ~ manaer providod unde~ parastaph 2 heroot. ' ' Any amounts disbuned by I.ende~ pursuant to this paragsph 7. with wterest tlkrcoo. shall becar~e additional , indebted~as o[ Bormwc~ securod by ~his Mongage. Unkss Borrower aod Len~ aaroe to othe~ terms of paymeM. such amounts shall be payabk upo~ nMice f~om l.eoder ~o Borrowe~ requatinE payment thereof, and shall bea~ inte~est from the date of disbursement at the rntc payabk from time to ti~ne on amtandin~ priocipal under the Note unkss payma~t of i~tcr+at at such rate would be contrary to applicabk law, in which event wch amounts shall beu intaat at thc hi~st rab permim'bk w~der applicabk law. Nothing contained io this paraaraph ~ ihaq requi~e l.e~der to incur aay e~cpcnse ot fake , any actan hereunder. ' ; s. I~qKCtis~. l.end~r msy make or cause to be made rcuonaDk eetries upon and inspectioos ot t1x Property. provided ~ that Looder shall Sive Borrower notice prio~ ta aoy wch inspection spocifyi~s reasonabk cuae therefor ?elatod to Lender's ` intercst in the PropeKy. . Co~ie~ow. 'fh~ p~oceeds of any award or claim for damaaes, droc~ or oonsequential. in connection with any condemnation or dher taki~g of the Property, or patt thercof, or for co~veyance in lieu of condem~ation. are he~eby assig~ed and shall be paid to Lender. ~ in the event of a to1a1 taking of~ thc Property. the prcx~eeds chall be applied to the um~s securcd by this Matgage, with the excess, if any, paid to Bormwer. In thc cvcnt c~f a pariial takinE of the Proptrty, urtlaa Bornnwer and I.ender wherwise asn~e in writinR, the~+e shall be applied to the sums securod by this Mortgaae such pmportioo of the pmoeeds as is tqua! to that proportian which the amount af the sumc secured by this Mortaage immediately prior to the date of taking bears to the fair market value of the Property immediatety prior to the date of taki~, with the balance of the pmceeds paid to ~mower. if the Property is abandoneci by Borrower, ar if, after notice by I~nder to Borrvwrr that the condemnor offers to mate an award o~r settk a claim for damages, Bc~rrower fails to respond to Lender within 30 days after the date such notice is maikd. I.ender is authorized to collect and apply the procecds. at I~nder's option. either to ratoration or rtpair of the PropeMy or tathe sums securcd by this Mortgajte_ Unltss Lender and Borrower otherwice agree in w•riting. any such application of proceeds to principal shall not extend w postpcne the due date af the mo~thly installments referred to in paragnphs 1 and 2 he~+eof or change the amount of s~xh installments. - 10. Eorrower Not Rekasrd. Extension of the tirn~ for payment or modification of amortization of the sums securcd by this Mortgage granted by i_ender to any ~ucceuor in interest of BorrowYr shall nw optnte to rekase, in any manner. the liability of the original Borrower and B~rrower e successorc i~ interest. Lender shall not be required to commence proceedings against such successor or refuse to ectend time for payment or ~ahervvix modify amortization of ~he ~ums secured by this MoRgage by reason of an~r demand made b~ the original Bomower and Borrawe~ s succescors in imerect. I1. Forbearsace by Lender Not a Waiver. Any f~rt~earanoe by l.ender in exercisi~g any right or remedy henunder, or otherwise aBorded by applicabk law, shall not t+e a waiver of ar prtclude the eiercise of any such right or ttmedy. The procurement of insurance or the payment of ta!ces cu other liens or charges by Lender shall not b~ a waiver of i.ender's right to accelerate the maturity of the indehtednesc ~ecurcd h} ihis Mortgaga 12. Rea~edies C~melath~e. All remedies pravided in this Mortgage are distinct and cumut~tive to any other right or rcmedy imckr this Mortgage or afforded by law or equity, and may be exercised concurnently, independently or successively. ; ' 13. S~ecesso~s and AssiR~s nound; Joiat sad Sered i.iabilk~r; Captioas. The covenants and agreements hercin ~ contained shall bind, and the rights hercundcr shall inurc to. the respertivt suocessors and assigns of Lender a~d Bornower. subject to the provisionc of paragraph 17 hereof. All cuvcnants and agreert~ents of Borrower shall be jc~iry and several. The captions and headingc of the paragraphc of this Moriga~e arc far convrnience only and are not ta be uxd to interpret or define the provisions hereof. " = 14. Notice. Except for any no~ice required under applicabk law to be Eiven in another manner. (a) any notice to Borrower provided for in this Mortgaee shall tx given hy mailing soch notice by certifkd mail addressed to Bcxrower at ' the Property Addr~ss or at such olher address as Bormwtr may designate by notice to t.ender as provided herein, and (b) any notice to Lender shal) Me given hy cenifieei mail_ return rectipt requtsted. to I.enders address stated herein or to such other address as Lender may desiqnate by notice to Bormwer u provided hercin. Any notice provided for in this ~ Mortgage shatl be deemed to have been gi~•en to Bc~rmwer or Lender when given in the manner desigoated herein. ~ 15. Uaiforw~ Morl~~e: Covemin~ i.aw: Se~~enM7itv. This form of mortgag~ combines un~form covenants for national _ «.se and non-uniform covenantc with limited varia~icx~s b~ jurisdiction tc+ co~utitute a unifomt security instrument rnvering ~ rral property. This Mortgage shall be governed M~ the law of •the~ jurisdiction in which the Propetty is located. Tn ihe f event that any provision or clause of thic Mortgage nr the Note conflicts with applicabk law, such conflict shall nM affect E other provisions of this Mortgage or the Note which can be given effect wilhout the conflicting provision, and to this ~ end_the prqvisions of Ihc Mortgage and the Nc~te arc Jcclared to be severabk. - l6. 6ormwer's Copy. Borrower shall be furniched a conformtd copy of the Note and of this Mortgage at the time ~ of eaecution or after recordation hereof. ~ 17. Transfer of the Propertv: Assumption. 1f all or an~• part of the Pruperty or an interest thercin is sold or transferred by Borrower without Lender's prior writ~cn cunsent_ excluding (al the creation of a lien or encumbra~ue subordinate to this Mortgage. (b) the creat~on of a purchac~: m~~ney cecurit~• intercst fcx household appliances, (c) a transfer by devise, - descent or by operation of law upon the dcath of a joint tenant or (d/ the gnnt of any leasehold intercst of threc ycars or less not containing an option to purchase. Lender may, at l.ender'c option, declarc all the wms socured by this Mortgage to be ~ immediately due and payable. Lcnder shall have Naived such option to aocelerate if, prior to the sak or transfer. Lender ~ and the person to whom the Property i~ to be ;old or transferred rcach agrcement in writinE that the credit of such person ~ is satisfactory to LenJer and that the interr~t pa~abk on the sums xcured by thiS Mortgaae shall be at such rate ac l.ender shall request. If Lender has waived the optiors to accelerate provided in this pnragnph 17. and if Borrower's successor in interest has exec~ted a written assumption agreement accepted in w~riting by Lender. Lender shall rekase Borrower from all ~ obligations under this Mortgage and the Note. If Lender exercises such option ta accelerate. ~ender shall mail Borrower notice of accekration i~ acrnrdancc ~~h paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within which Borrower may pay the sums declared due. If Borrowrr fails to pay uKh soms prior to the expintion of auch pericxl. Lender may, without further notice or demand on Borrower, invoke any remedies permitted by pangraph 18 herrnf. ~ Now-UHtFORnt Covetv~trrs. Borrowe~ and Lender futther covenant and a6ree as fdbws: . ~ ls. Aecekratioo: Rasedia. E:cept as prorided ~ pra~ra~U 17 bn~ef. rM~ ~s b~eae~ d a~y co•eeaat or ~ a~recse~t of eorrower i~ tY~s Matsa~e, iicl~e~ fre co~ew~s to pY wres ~e an s~s sce~ by tWs Morq~aae. Lender ~ Prior lo seceieraKo~ sbag mail sotkt fo Eorrower as protiici M prapa~ 14 t~ersof s~edi~i~ (1) tMe bteacr: (2) tbc sctbo `3,` re~irei to c~re secr 6reacU; (3) a date. wot las ~aa 3~ dqs ft~o~ tk iale ~e ~atiee is ~Yei N 1Krower. Sq w~icb srcb ~ b~eae~ ~wt be c~rea; aal t4) that hihre Io a~re scl~ bresc~ ow or bdMe tlie i~e s~Cetiei i~ tre ~Mice osy resWt ia ~ acednat~o. ut tie so~s sec.red by tbis hto~a~e, fo.ec~os..e ti i~kial roceeiYi ai ~ale ot tre ho'erh. 'n~e nalce sra! frrtber i~ors Dorrowtr oE tbe ria6t to ~t aftu scctierafis~ a~i t~e ri~IM a a~eA b tre fareelosrre p~oc~ed6~ ~ tre ~o~-e:istesce d a defadt or ~y dber defense of Eorrower w iccelen~ awi t~+ecios~e. ~ tie 6rexM is ~ot con~ o~ ~ or betort Il~e dste ~ i~ t~e aotice. Le~de~ at I_ewde~'s optio~ ~ry ~e ~ Ma~e b be ~ iwa~tety due se~ Parable withoot f~uther dem~nd zad rwaY fo~eclose tYs M~t~e M~r j~iicW N'acKdi~R. Lender chall be ~ed to eoUtet b s~cr proceediaL d tiP~~ses of foreclos~ue. i~clrii~is b~t ~M Ii~ileJ t~. Kaso~ie attorneY's fees, _ ~ a~i eo~ts ot ~oc~~eaary erideace, abstraces s~d Iitk ceprts. a 19. ~ruwar's RI~t to ReimRate. Nc~twithsunding Lender s accckruion of the sums secured by th~s Mortgage. ~ Borrower shall have the right to have any proceedings bc~eun l.ender to enforce tliis Monltage discontinued at any time € ~ ~ ~R Q~ P ~Q~ 301,K ~c7t,i ACE t/CJ~.? ~ - _ - - = ~g ~ ~x ~ s ;v ~ ' : _ ~=iSi Y.-j . a~~`~'F^~i'i