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Home My WebLink About0444 . , , ~ . l.eader's written a~rxme~t or applicaWe law. Borrower ihaU psY th~ amouat of aq mo~tgage insuranco premiwns in the mannsr providod undc~ puagnph 2 hcreof. _ . Any amounts disMused by I.endc~ pursuant to tha pangraph 7, with interest theteon. shall become additional inckblodnas of Borrower securod by Ihis Mongage. Unless Bonowe~ and l.enck~ agree to othe~ terms oi payment. such amounts shall be payabk upon notice kc~m [.ender ta Bor~owe~ rcques~ing payment thereof, and shali bea~ interest ft+om the date of disburacment u the nte payabk from time to time on out:tanding p~incipal under the Note unlas psyment of interest at :uch nte would be contrary to applicabk law; in which evd~t such amounts shall beat inte~+est at the hiahest rate ~ permissibk under spplicable law. Nothing containod in this parag~aph 9 shali roquiro I.eeder to incur any eapenle or tste any actioe hereunder. S. l~ectb~. I~nder may make or cause lo be mude rcasonable entries upon and inspections of the.Property, pmvided that l.onder shall give Borr~wer ~otice prior ta any s~~ch inspection specifyina reasonabk cause therefor related to I.a~de~'s interest io the Pmpetty. 9. Cowdemnstb+~, The proceedc c~f any award or claim for damages, direct or consequential. in connection with any condemnation or other taking of the Property. o~ pan thercof, ar for conveyance in lieu of condemnation. are hereby assigned and shall be paid to l.ender. - . in the event of a total taking of the ProE+eny, the prareeds chall be appli~d to the si~ms securcd by this Mongage. ~ with the excess, if any, paid to Bo~rower. In thc cvcnt ~f a partial taking of Ihe Property, unlas Bomower and I.eeder otherwise agrce in wtiting, there shall be apptied to the sums secured by this Mortgage such pr+oportion of the proceeds as is equal to that p~aporticu~ w•hich ~he amount ot ~hc sumc secured by this Mortga~ee immediateiy p~ior to the dale of taking beats to the fair markSt valuc of the Pmpcrty immcdiately prior to ihc date of taking, with the balance of the p~ p~id to Borrowe~. • If the Property is at?andc~ned by Borrower, or if, after notice by I.ender M Bormwer that the condemnor offers to make an award or settle a claim for damages. Bormwer fail~ to respond to 1_ender within 30 days after the date such notice is maikd: L'endl~ys authorized to coliect and apply ~he proceeds, at t_ender's option, either to testontion or repair of the Propenyort~n !he sums sccured by this Mor~gage. •Unless•Ledder and Borrawer othenvise agrce in w•ritmg. any such application of prc~ceeds to principal shall not extend or postpoM the due date of the monthly installmcnts rcferr~d ta in paragraphs 1 and 2 hereof o~ change the amount of such installmeitts. ~'!6. Borrower Not Rekased. Fxtension of the time for payment or modification of amonization of the sums secured by this Mortgage granted by t.ender to anv a~~ccecuir i~ interect of Borrower ~hall not operate to release, in any man~er, the liability of the original Borrower and &~rrower'~ si~cresx?rc in intercst. Lender shall not be required to cammence proceediags against such successc~r or retiice to ertend time for paymeM or othervvice modify amortizat~an of thr wms secured by this Martgage by reason of an} demand made by the oriqinal Borrower and Borrower's succescors in interest. 11. Rorbcarance by Lender Not a Wai~•er. Any f~rhearance hv l.ender in exercising any right or remedy hereunder, or otherwise afforded by_ applicabte law. shall not tx a•waiver of ~r preclude the exerciu of any such right o~ remedy. The proci~rement of irtsurance or the payment nf tares or other liens or charges by Lender shall not be a waiver of Lender's right to accelerate the maturity of the indeMednecs ~ecured hy this Mortgage. ' l2. Remedies Cnmulat~e. All remedies provided in this Mortgage arc distinct and cumulative to any other ri~h! or remedy under Ihis Mortgage or afforded hy law or equity, and may be exercised concurrendy, independendy or successively. _ ' l3. Ssccessots aad A~as Bouad: Joint aad Se~•ersl 1.i~bility; Csptbns. The covenants and agreements lierein contained shall bind, and the rights hereunder shall inure to. the respective succescors and assigns of i.ender aod Bornower. subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joiry and several_ 'Iltie captions and headings oF the paraeraphc ~f this Mottgage are f~r convenience only and are not to be uced to interpret or define the provisioes hereof. 14. NMice. Except for any notice rcquired under applicable law 1o be given in another manner. (a) any notice to Borrower provided for in this iNortgaee shall he given by maiting such notice by certefied mai) addressed to Borrower at the Property AJdress or at such other addrecs as $ormwer may designate by notice to i_endet as provided herein, and (b) any notice to Lender shall he givco hy certified mail. return receipt requested, to I.enders addrcss slated herei~ or to such other address as Lender may decignate by notice to Borrower as provided herein_ Any notice pmvided for in this Mortgage shall be deemed to har•c t+ecn gi~~c~ to Bormwer or 1_ende~ when given in ihe manner designated herein. 15. Uniform MortRa~e; Governiu~ Ia.+; Se~-erability. This form of mortgage combines uniform covenants for national use and non-unifotm covenantc with IimiteJ variations by jurisdiction to constitute a uniform security instrument covering real property. 'lliis Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the event ~hat any provision or etause of thi~ Mortgage c?r the Note-con8icts wi~h applicable law, such conflict shail not affeet other proviseor~s of this 111ortgage or the Nate which can be given eSect without the conflicti~g provision, and to this end the provisions of the Mortgage and the Vote are Jcclared to t~e severable. 16. EoROwe~'s Copy. Borrower shall bc furni~hed a conformed coPy of the Note and of this Mortgage at the time of execution o~ after recordation hereof. 17. Traasler of i6t Propertv: Assumption. If all or an~~ part of the Propetty or an interest therein is sold or transfened - by Borrower without Lender s prior w~rit~rn r~,ncent. exc~uding (al the creation of a lien or encumbrance subordinate to this Morigage. (b) the creation of a purcha~e money ac:curity interest far household appleances, (c) a transfer hy devise. descent or by operation of law uport the dcath of ~ joint tenant or (d) the grant of any leasehold interest of thrcc ycars or less not containing an option to punchase. Lender may. at Lender't option. declare all the sums secured by this I~longage to be . immediately due and payable. I_cndcr shall havc w;,ived such option to accelerate if, prior to the cate or transfer. Lender and the person to whom the Property i~ to be coiJ nr transferred reach agreement in writing that the credit of ~uch percon is satisfactory to Lender and that tht interr~t pa~•able on the sums secured by this Mortgage shall be at such rate ac I_ender shall rcquest. If I_ender has waived the option ti~ accelerate provided in this paragraph 17, and if Borrower's successor in interest has executed a written assumption agreement accepted in writing by I_ender, Lender shalt rclease Borrower from a!1 obligations under this Mortgage and the Note. If Lender exerc~ses such opiion to accelerate. t_ender chall mait Borrower notiee of acceleration in accordanc~ ~~h paragraph 14 hereof. S~ch notice shall provide a period of not less than 30 days from the date the notice is maited within which Borrow~r may pay the sums declared due. If Borrower faits to pay such sums prior to the exPiration of cuch pericxi. Lender may, without further notice ar demand on l3orrower, invoke any remedies permitted by paragiaph 1R hereof_ NoN-UN~~oaM CovEN~NTS. $orrower and t_ender further covenant and agree as follows: ls. Accekration; Remedks. Except as provided in pars~rnpM 17 hereof. apon Dorrower's bteael~ of a.y corensat or ss~eea~t of Borrower io t6Ls Mortgs~e. iaciudisg tbe co~eeaats to psy wheo dne aay soa~s se~wred by t6it Mort~a~e. Lcoder prior to accdentba s6aH wu~l notice to Eorrower as provided in pars~nph 14 4ereof specNyiu6: (1) tre bresch: (2) the actioa reqnired to rm sec6 bracb; (3) a date, ad kss tl~ 30 days from tbe date tre notice b euikd b eorrower. br w6ich ~cb • breach a~ost be c~re~ aad (4) thst failune fa cere soch breacb oa or beforr tbe date sped5ed fe the notice msy result ia aecderatioA of tre soas seco~+cd br tbi~ Mori~e. toreclo6un by judkW proceedia~ a~d sde of tbe Property. The notiee sha~ hrrt~er L~fo~ ~onower oE tbe riEbt to rciastate dter aeceleration and tbe ri=bt to ~ssert i~ tbe torsclosdre procee~ tbe eoa-e:i~tence ot a defank or ~y Mhrr defense of Sorrower to sccekration and toreclosore. it tbe brcac6 ts aot cared oe ~ or before the dste spai~cd io the aotice. Lender ~t I.ender•s optiw~ ~ay dedar~e sH of tbe soa~s secnrcd by this MortRaRe fo be immcdiately dae aed paYsbk w3thoot farther demand ~nd msy forecbse tbls Morl~aee by j~dieial proeeediaR. I.ender chall be entitled to co0eet is s~ yroceedia~ sN expenses nf foreclosnrr. iacludiu~. bot ~Ot Wdted to. re~o4sbk attorner's fees. aod costs of dotase~tary e~ideace, s6strscts and titk nports. 19. dorrowerrs Rl~ht to Re~state. Notwithctanding l.ender s acceltr~tion of the sums securcd bjr th~s Mortgage. Borrower shall have the right to have any proccedings hegun hv I.ender to enforce this Mortgage discontinued at any tirt?e $~Rx 295 " 443 ; , ; , .,ti - ~ - - - - - - _ J-=--- - ; : s. ~ ~ ' ~ - ~ ~ -