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Home My WebLink About0097 • ! Lender's written agrcement or applicable law. Borrow~er shall pay the amount of a!I mon~aje insurance preeniums in the manner p~ovided under paragraph 2 hereof. Any amounts disbursed bv Lender pursuant to this pa~agraph 7, with interest thereon, shall become additional inJebtedness of Borrower securcd by this Mortgaga Unless Borrovrer and !_e~der agree to other terms of payment, such amounts shall be payable upoo natice f~am t_cnder to Bo~rower requesting payment thercof, and shall bear interest from the date of d'ubursement at the rate pay3bie from time to time o~ out:tandin principal under the Note unless payment of interest at such rate would be contrary to applicable law, in which eveh~ i~c~amou~ts shall bear inte~cst at the highest rate permissibk under applicable law. Nothing contained in this paragraph 7 shall require Lende~ to incur a~y expense or take any action hereunder. 8. Iaspectbn. Lender may make or cause to be made reasonable entries upon and inspections of the PropeNy, provided that Lender shall give Borrowe~ notice prior to any such inspection specitying reasonable caux therefor related to Lende~'s interest in the Property. 9. Condemnatbn. The proceeds of any award or claim for damages, direct or coosequential, in con~ection with any condem~ation or dher taking of the Propeny, or part thereof, or for conveyance in lieu of condemnation, arc hereby assigned and shall be paid to i.~nder. In the event of a iatal taking of the Property, the proceeds shall be applied to the ~ums secured by this Mortgage. with the excess. if any, paid to Borrower. Tn the event of a partial taking of the Property, unless Borrower and Lender o~hervvise agrce in writing. there shall be applied to the sums secured by this Mortgage such proponion t~e proceeds as is equal to that proportioo 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 Property is abandoned by Borrower, or if. afte~ notice by Lender to Borrowe~ that the condemnor offers to make an av?ard or settle a claim for damages. Borrower fails to rapond to I.ender within 30 days after the date such notice is mailed. Lender is authoriud to collect and apply the proceeds, at i_ender's option, either to restoration or repair of the Property or to tht sums secured by this Mortgage. Unlas Lender and Borrov?er othenvise agree in writing, any such application of proceeds to principal shall not sxtend or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such installments. 19. Borrower Not Relessed. Extension of the time for payment or moditication of amortization of the sums secured b~ this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to releau. in any manner, the liability of the original Borrow~er and Borrower's successon in intercst. Lender shall not be required to commence proceedings against such successor or refuse ta extend time for payment or otherwise modify amonization of the sums secured by this Mortga~?~fqreadon ot~ dama~~ape:u'-y the orig,inal Borrower and Borrowers successors in interest. 11. Forbearance bylitehdef~'iVoi ~-Waivu: :1ny fOrbiearance b}~ I.ender in e?cercising any right or remedy hereund~~, or otherwise affarded by~~t110eb1l~ IsyK. shap• net~~lC K1rWAlYCF of or preclude the eYercise of any such right or remedy. The procurement of insurance or the payment of ta!ces or other lieos or charges by Lender shall not be a aaiver of Lender's right to accelerate the maturity of the indebtedness securcd hy this Mortgage. • 12. Remedks Comuladve. All rcmedies provided in this Mortgage are distinct and cumulative to any other right or remedy under this. Mongage or afforded by law or equity, ~and may be eYercised concurrently, independenily or successively. 13. Snccessors and Assigns Bound: Joint and Sea•eral i.iaM'lity; Captbns. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lende~ and Borrower, subject to Ihe provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several. 'Il~e captions and headings of the paragraphs of this Mortgage are for conven~ence only and are not to bt used to interpret or define the provisions hereof. - l4. Notice. Except for any notice required under applicable law to be giv~n in another manner, (a) any notice to Borrower provided for in this Mortgage shall be given by mailing such notice by cenified 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) anp notice to Lender shall be given by certified mail, retum receipt requested, to l.ender's address stated herein or to such other address as Lender may designate b}• 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. Uniform Mortgage; Governin~ Iaw; Se.erability. This form of mortgage combines uniform covenants for national i use and non-uniform covenants with limited variations h~• jurisdiction to constitute a uniform security instrument covering ~ real property. This Mortgage shall be gove~ned hy the law of the jurisdiction in which the Property is located. in the f event that any provision or clause of this Mortgage or the Note conflicts aith applicable law, such conflict shall not affect E other provisions of this Mortgage or the Note which can be given effect withoot the conflicting pmvision, and to this ~ end the provisions of the Mortgage and the Note are declared to be severable. i ~ 16. Bormwer's Copy. Borrower shall be furnished a conformed copy of the :`ote and of this Mortgage at the time ~ of execution or after recordation hereof. ~ 17. Traasfer of t6e Propectv: Assnmption. If all or an}- part of the Property or an interest therein is sold or transferred by Borrower without Lender's prior written consent. excluding (al the creation of a lien or encumbtance subordinate to this Mortgage. (b) the creation of a purchase money security interat for household appliances, (c) a transfer by devise, descent or by operation of law upon the death of a joint tenant or (d? the grant of any leasehold intere'st of three years or less not containing an optioo 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 I.ender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender shall rcquest. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interest has executed a written asiumption agreement accepted in writing by Lencier, Lender shall release Borrower from all obligations under this Mortgage and the Note. If Lender exercises such option to accelerate, i_ender shall mail Borrower notice of acceleration in accordance with 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 Borrow~er fails to pay such sums prior to the expiration of such period, ~ Lender may, w~ithout further notice or demand on t3orrow•er. invoke any remedies permitted by paragraph 18 hereof. ~ NoN-UNtFORi?t Covetv~Nrs. Borrower and Lender further wvenant and agree as follows: ~ 18. Accderation; Remedks. Ezcept as pro~-ided io paratnp6 17 hereof~ opoa Borrower's brescb of aay coveaant or agreement of Eorrower in this Matga`e, Including t6e corewots to pay v?hea due aay soms secnred by this Mortga`e, Leader ~ prbr to sccek~tioo sball maq notke to Borrower as provjded ia pua~raph 14 6ercof specifyina: (1) tbe breac6; (2) tbe action rcqaired to core socb bresc6; (3) a date, not las tban 30 days from the dste tbe ootke is majled to Borrower, by w6k~ snc6 ; ~ breac6 mmt be cored; aad (4) t~ fallnrs to cure sach breach oa or before the date spec~ed ia tbe sotke may rssdt ia = 3: secekratlos oE t6e suu~ iccored by Wis Mort~a`e, forecbwre by judicial proceedia` ~ad sak of t6e Property. 'Ibe notke ` ~ s6a11 tnrtber inform Borrower ot t6e ri66t to reiastate after sccekratioa aod t6e ri6At to assert in t6e foreclosure proceedi~ ~ the non-es~teoce of a default or any other defease of Borro.rer to acceleration and torecbwre. IE the brescA is not cored oa ~ or before tbe date speci6ed in the aotice. Leader at Leade~'s optlon may declue aA of the aams aecnrcd by thb Mo~a`e to 6e ~ immcdiattly dne and p~ysbk witboot furt6er demaad and msy foreclose this Mo~tga6e by judicial proceedin~. Lender shaA be entltkd to colkct in soc6 proceeding a9 e:penses of foreclosurc, including, bnt not Umited to, nasonabk sttorae~'s tees, ~ aod cods of docamentary evidence, a6stracb and titk reporla. ~ 19. Borrowe~'s Ri~6t to Reinst~e. 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 Mongage discontinued at any time Y ' ~ 60~It~~ °~CE ~ ~ ~ ~ ~ ~ : z. _ ' " _ - - • - - - ~ _ x~v~~~?~'.. _ ~`i . - ~~~,~~y`~`~~`~.~ - : ~ _