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Home My WebLink About0734 l.e~der's writtcn agccement or applicablt law. Borrower shall pay the amount of all mortgage insurance premiums in thc man~er provided unde~ paragraph 2 hereof. ~ Any amounts disburstd by l.ender pursuant to this paragraph 7, with ioterest thercon, shall bc~;omc additional ` indebtedness of Borrow~r socuoed by this Mortgage. Unlcss Borrovver a~J ~ender agrec to othcr tcrtns of payment, such ~ amou~ts shall be payeble upoo notice from I_ender ta Bc~rrower rcquesting payment the~cof, anJ shall bear interest from the Y date of disbursement at the rat~ payabk from time to time on outstanding principal under thc Note unless payment of f interest at auch rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate ' permissibk unde~ applicabk law. Nothing contained in this paragraph 7 shall rcquire Lende~ to incut any expense ar take ' any action htrcunder. a. Iapectbs. Lender may make or cauu to be made reasonabk e~t~ies upon and inspections of thc Propcrty, provided # that Lender shall give Borrower nolice prior to any such inspection specifying reasonable cause therefor related to I.ender'a ~ interest in the Property. • ~ 9. Coademostba. The proceeds of any award o~ claim for damages, direct or consequential, in conntction with any ; condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of coademnation, are hereby assigned ~ and shall be paid to Lender. ~ in tht event of a total taking of the Property, the proceeds shall be applied to ~he ~ums secured by this Mortgage. ? with the excess, if any, paid to Borrower. in the evcnt of a partial taking of the Property, unless Borrower and Lende~ i otherwise agree in writing, there. shatl be applied to the sums secured by this Mortgage such proportion of the proceeds ; as is equal to that proportion which the amaunt of the sums secured by this Mortga¢e immediately prior to the date of c', taking bears to the fair market value of the Property immediatel~~ prior to the datc of taking, with the balance of the proceeds paid to Bo~rower. If the Properry ts abandoned by Borrower, or if. after notitt by I_ender to Borrowcr that the condemnor offers to make ; an award or settle a claim fo~ damages, Borrower fails ta respond to i.ender withio 30 day~s after the date such notice is z mailed, Lender is authorized to collect and apply ~he proceeds, at 1_ender's option, either to restoration or. repair of the ; Propeny or to the sums secured by this Mortgage. ~ Unless Lender and Horrower otherwise agree in u•riting, any soch application af p~oceeds to principal shall not extend ? o~ postpone the due date of the monthly installments referred to in paragraphs 1 and 2 her~of or change •the amount of ~ such installments. i 10. Borro.~er tVot Rekssed. Extension of the time f~r payment or modification of amartization of the s~~ms secured - by this Mortg~cae graoted by Lender to any successor in interest of Borrow~er shall not opzrate to.release, in any manner, the liability of the origlnal Borrower and Borrower ~ successors in interest. I_ender shall not be required to eommence proceedings against utich successor or refusr. to extend time for paymenf or otherwise modify amortization of the sums secured by thic Mortgage by reason of any demand made by the ori¢inal Borrower and Borrowers successors in interest. l l. Forbear~nce by Lender Not a Waiver. Any forbearance, by I.ender in exercising any right or remedy hereunder, or otherwise aflorded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance or the paymeot of taxes or other liens or charges by i_ender shalt not he a waiver of Lender s ; right to accelerate the maturity of the indebtedness securrd hy this Mortgage. 12, Remedles Camolatlre. All remedies pmvided in this 11~ortgage are distinct and cumulative to any other right or remedy under this Mortgage or afforded by law or equity. and may be exercised concurrently, independently or successively. ~ 13. Sneeasors aod Assigac Bound; Joim and Several i.iabiGty; Captions. The covenants and agreements herein ~ contained shall bind, and the righis hereurtder shal! inure to. the respective successors and a~igns of Lender and Bonower, ~ subject to the provisions of paragrapfi 17 hereof. All covenants and agreements of Borrower shall be joint and several. $ "il~e captions and headings of the paragraphs af this Mortgage are for convenience only and are not to be used to - interpret or define the p~ovisions hereof. - 14. Notke. Except for any noiice required under applicable law• to be given in another manner, (a) any notice to Borrower provided for in this Martgage shall be given b~~ mailing such notice by certified mail addressed to Borrower at ~ the Property Address or at such other address as Borrower ma~~ designate by notice to i.ender as provided herein, and E (b) any notice to Leader shali be given by certified mail. retum receipt requested. to I.ender s_ address stated herein or to ' such other address as Lender may designate by~ notice to Borrower as provided herein. Any notice provided for in this 3 Mortgage shall be deemed to have been given to Borrower or l.ender when given in the manner designated herein. y lS. Uaiform Mortgage; GoverninR I.aw; SeverabiGty. This form of mongage combines uniform covenants for national use and non-uniform covenants with timited variations hy jurisdiction to c~nst'rtute a uniform security instrument covering ` real property_ 'i7~is Mortgage sha11 fie governed hy the law of the jurisdiction in which the PropeNy is located. In the event that any provision or clause of this Mortgage or the Note conflicts w•ith applicable law, such conflict shatl not affect r other prnvisions of this Mortgage or the Note which can be gi.en effect without the conflicting provision, and to this end the provisions of the Mortgagc and the Nate are declared to be severable. . l6. Eomnwer's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time of ezecution or after recordation hereof. 17. Transfer of t6e Propufy; Assumption. If ail or an~• pan of the Pmperty or an interest therein is sold or transferred ~ by Borrower without Lender s prior written consent, excluding (al the creation of a lien or encumbrance subordinate to ~ this Mortgage. (b) the creation of a purchase money securi~y interest for household appliances, (c) a transfer by devise, ~ descent or by operation of law upon the death of a joint tenani or (d1 the grant of any leasehold interest of three years or less oot containing an option to purchase, I_ender may, at Lender c option, declare afl the sums secured by this Mortgage to be 3 immediately due and payable. Lender shall have waived such option to accelerate if, priar to the sale or transfer, Lender = and the person to whom the Properfy is to be sold or transferred reach agreement io writmg that the credit of such person ~ is satisfactory to Lender and that the interest payablC on the sums 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 interest has executed a writteo assumplion agreement accepted in writing by Lencler. Lender shall release Borrower from all ~ obligations under this Mortgage and the Note. If Lender exercises such option to accelerare, Lender shall mail Borrower notice of acceleration in accordance with ~ paragraph 14 hereof. Such notice shalt provide a period of not less than 30 days from the date the notice is maeled within ~ which 8orrower may pay the sums derlared due. If Borrower fails to pay such sums prior to the expiration of such period. ' Lender may, without further notice or demand on t3orrower, invoke an • remedies ~ y permitted by paragraph 18 i:ereof. ~ 1Vox-Urr~FORt~t CovExenrrs. 8ottower and Lender further covenant and agree as follows: s ~S. Accekratbe; Rea~edies. Fatcep ad provided ~n pangraph 17 hereof, upon Borrowe~'s breac6 of s~ny covenaut or ~ agreemeat of Ibrror?er ia t6is Morfgage, includi~ t6e coveaants to pay wi~en due sny sams secured by t61s Mortga~e, I.ender = prbr to sccekntion s6aI1 mail notice to Borrowcr as provided In paragraph 14 hereof specifyin~: (1) the 6reac6; (Z) t6e actioa reqaired to cure sac6 6reac6; (3) a date. aot Isss t6an 30 days tmm tbe date the notice b mafkd to Bomnwtr, by whk6 snc6 { breac~ med be cored; aod (4) t6at fafl~re to cure surh brcach on or before tbe d~e speri6ed in tl~e notke taay resdt io ~ acederatbo ot tbe aums :ecand by t6ic MoNgage, foreclosure br jndlciad proceedio~ aad sak of t6e Pmperty. 'iUe aotice shall tnrtber iaform Borrower of tbe ri~bt to reiactate after accekration and t6e rigbt to a9sert ia t6e foreclosure proceediu~ ~ t6e oon~ezi~tence of a defaatt or any other defense oi Borrowrr to accekratiow and foreclosare. If the bceach is not enred oa ~ or befo~e t6e date a~ectSed io t6e uotlce. Lender at Leader's optbn nwy decfare dl ot the su~ aecared by this Mortga6e b be = immediately due and payabk witbo~t fwt6et demsad and may forcclose Mis Mwt~a6e by jndkW procadius. Lender shap be eatitkd to colkct in s~ proceedia` aA expensea of foreclosare, iacludi~, bnt not limited to, ressoaa6le attorney's fees, ~ad cods of docomeofary evideace, a6stracts and_ title reporls. ' !9. Borrower's Rl~bt to Reiodate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage. Borrower shall have the right to have any proccedings begun by Lender to enforce this Mortgage discontinued at any time - A R ~Q~ oDGt ~•~7eJ ~/IL~ ~~.xx - - - - - ,z 1 _ ~ = ~ ~ ~~~:r;: _i