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Home My WebLink About0565 Lcnder'a w~tten agrameat or applicable law. Borrower shatl pay the amount of all mortgage insu~ance premium: in the manner provi~ed under paragraph 2 hereof. . Any amounts disburaed by Lender pursuant to this parag~aph 7, with interest thereon, shall become additional indebtedneu of Borrower secured by ~his Mortgage. Unless Borrower and Lender agree to other ternns of payment, such • ~ amounts sha{I be payabk upon notice fmm I_ender to Borrower rcquesting payment thereof, and shall bear interest from the ~ date of disbursemcnt at the rate payable from titrn to time on outstandi~g principal under the Note unless payment of # interest at such rate would be contrary to applicable law, io which event such amounts shall bear interest at the high~st rate ~ permissibk under applicabk law. Nothing contained i~ this paragraph ~ shall require Lender ta incur any expense or take ~ any action hereunder. ' ~ 8. Ieq~ecNo~. Lende~ may make or cause to be made reasonable eotries upon and inspections of the Propeny, provided 3 that Lender shall give Borrower notice prior to any such inspection specifying reasonable causa therefor related to~ Lender's ~ interest in the Property. ~ 9. - Coademaatbn. TF?~ proceeds of any award or claim for damages, direct or consequential, in connection with ~ny , condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned ~ and shall be paid to I.ender. t 1n thc evcnt of a total taking of thc Propeny, the proceeds shall be applied to the sums secured by this Mortgage, ~ with the excess, if any, paid to Borrower_ In the event of a partial taking of the Properry, ~mless Borrower and Lender ~ otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds ~ paid to Borrower. . ~ If the Propeny is abandoned by Borrower, or if, after notice by Lender to Bo~ower that the condemnor ofiers to make ~ an award or settle a claim for damages, Borrower fails to respond to l.ender within 30 days after the date such notice is ~ mailed, I.ender is authorized to collect and apply the proceeds, at iRnder s option, either to restoration ar repair of the ~ Property or to the sums secured by this Mortgage. ~ Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend ~ or postpone tht due date of the monthly installmems referred to in paragraphs 1 and 2 hereof or change the amount of i such installmen:s. ~ 10. Bormvre~ Not Released. Extension of the time for payment or modification of amortization of the sums secured ~ by this Mortgage granted by Lender to_any successor in interest of Borrower shalt not operate to release, in a~y manner, _ the liahility of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence ` proceedings r?gsinst such successor or refuse ta extend time for payment or othen+ise modify amonization of the sums ; secured b~• this Mortgage by reason of any demand made by the ori.ginal Borrower and Borrower s successors in intertst. ~ l l. Forbwrance by I.eader Not s Waiver. Any forbearance by I.ender in exercising any right or remedy hereunder, or ~ otherwise afiorded by applicable law, shall not be a waiver of or preclude the exereise of any such right or remedy. The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's ~ right to accelerate the maturity of the indebtedness secured hy this Mortgage. . . 12. Remedies Cnmulathe. All remedies provided in this Mortgage are distinct and cumulative to any other right or _ ~ remedy under this Mortgage or afforded by law or equity, and may be exerciscd concurrently, independently or successively_ 13. Snccessors and Assigns Bound; Joint and Se~~eral i.iabiUty; Captbns. The covenants and agreements fierein contained shall bind. and the rigfits hereunder shall inure to, the respective successors and assigns of Lender and Bomower. ~ subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall 6e joint and several: , 'il~e captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to ~ interpret or define the provisions hereof. 14. Notiee. Except for any notice required under applicable lavv to be given in another manner, (a) any notice to ~ Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at ~ the Property Address or at such other address as Bormwer may designate by notice to i_ender as provided herein. and (b) any notice to Lende~ shall be given by certified mail, retum receipt requested. to I.ender's address stated herein or to ~ such other addras as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this ~ Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. • 1S. Uaiform Mortgage; Governing I.aw; Se~•ersbility. This form of morigage combines uniform covenants for national ~ use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering ~ real property. 'Tt~is Morigage shall be governed hy the law of the jurisdiction in which the Property is located. In the ; ; event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect ? ~ other provisions of this Mortgage or the Note which- can be given effect without the conflicting provision, and to this i j end the provisions of the Mortgage and the Note are declared to be severable. ~ ~ 16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time # ~ of execution or after recordation hereof. 3 17. TnRSEer of t6e Pmperty; Assumption. If all or any part of the Property or an interest therein is sold or transferred ~ by Borrower without L.ender's prior written consent, excluding (a1 the creation of a lien or encumbrance subordinate to f ~ this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise, descent or by operation of law upon the death of a joint tenan~ or [d? the grant of any leasehold interest of three years or less 3 not containing an option to purchase. Lender may, at Lender s option, declare all the sums secured by this Mortgage to be ~ immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer. Lender ~ ~ and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person ~ is satisfactory to Lender and that the interest pa}able on the s~ims secured by this Mortgage shall be at such rate as Lender : ~ shall request. 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 release Borrower from all ~ ~ obligations under this Mortgage and the Note. 3 ~ If Lender exercises such option to accelerate, Lender shall mail Borrow~er notice of acceleration in accordance with f ~ 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. (f Borrower fails to pay such sums prior to the expiration of such period. ~ Lender may, without further notice or demand on ~3orrower, invoke any remedies permitted by paragraph 18 hereof. 3 ` Nox-Ux~eoRU CovEH~rrrs. Borrower and Lender further covenant and agree as follows: { ~ 18. Acceleruio~; Remedks. E:cept a~ provided ia p~~rap6 17 hereof, opon Bomower's breach of any corenant or ~ ~ ~gresment of Dorrower ie tbb Morttage, lucludi~ t6e covenaats to pay rr6en dne any soms secured by this Morlga`e, I.cnder f ~ prbr to accekr~tioa s6aD ma~ notke to norrower as provWed fo paragraph l4 hereof spccifyio~: (1) t6e breach; (2) the'ction ~ ~ rcqnired b cme soch bresc6; (3) a date, not less t6sn 30 days fmm the date t6e notice is maikd to Bormwer, by w6k6 socb ~ ~ breac6 mmt be cored; aod (4) that failore to cure snc6 bresc6 on or beforo t6e date spec~'ied ia t6e notlce ms7_ resdt in ` ~ accderatioe of t6e sam~ secnred by thb Mortss~e. foreclosurc- M' jodkial proceedJo~ aad sale of the Property. 'lbe nWke ~ ~ sbaU furt~er ioform Borrower of tbe riaht to reiastate after accekration aad tbe rig6t to asee~t ia t6e foreclosnrs pe+uceed[~ ; tl~e non-existence ot a defaolt or aoy other deteme of Sorrower to accekratioo and foreciosnre. If the bresc6 ia not cured oo ~E ~ or b~ore the date spcci6ed in t6e aotlce, Leader at Leode~s optloa may deciare aU of the wenR secored by t6js Mort~e b be ; ~ immediately dae aad payabk wifhoAt fortber demaad aad may forecWse Wk Mortsa~e b~' )ndicial Proc~. Lender s6a11 ~ ~ be eafided to co0ect ie aoc6 proceedia6 a0 e~ensa of Eonclowre, iacludioa, bnt aot Umited to, rea~onaWe attorae~'s fees, aod costs of docamentary evidence, abstracb aod t[tle reporfs. ~ 19. dornowe~s Rig6t to Reimtata Notwithstanding Lender s acceleration of the sums securcd by this Mortgage. a Borrower shall have the right to have any proccedings begun by Lender to enforce this Mortgage discontinued at any time . ~ ~ . ~ ~ f . . go~~29~ ' 56~ ~ _ ; _ _ _ _ ~ _~..r - ._~.av~--.~~.... . ~ ~ ....,,;:n:~:~a