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Home My WebLink About0480 .t • . ~ • , . ~ . I.ende~'s writtcn agrame~~ ar applicable I~w. 8orrowe~ ihall pay the amount ot all mortgage insurance p~emiums in the manner providcd unckr puag~aph 2 heroot. Any amounts disbursed by I.enckr pursuant to thit pa~a~~aph 7, with intetcst theaon, shall beccxne sdditional inJebledness ot Bor~owcr securcd by this Mongage. Uoleu Bortower and I.ender agree to other temu of payment, such amcwnts shall be payabk upcx? nc~tice from I.ender tn Borrower rcquesiing payment thereot, and shall bear inlerest trom the date of disbarsement at the nte payabk f~am time to lime o~ outsta~ding principal under the Note unless paymet~t oi intercst at such mte would be contnry lo applicabk law, in which event such amounts shall Ixar interest at the hi~hest rate permi~tibk under applicabk law. Nathing rnntai~ed in lhis paragraph 7 shall require I.ender to iocur any eapeme or talte any action herounder. a. Iwspectio~. Lenckr may make or c~use to be made reasanabk entries upon and insp~ctions of ihe Troperty. provided that l_e ~der shall give Borrower nc?lice prior to any s~~ch inspection spocifying rcasanabk cause iherefor rclatod to I.mder's inleresl in the Propetty. 9. Coade~anstba. The prceeeds of any award o~ claim for damages, direct or conxequential, io connection with any cu~+3~mnation or dher taking af the P~operty, ar part ~hereof, ar for ccmveyance in lieu of condemnation. arc hereby assigned and shall be paid ta 1.ender. In_~he event of a lalal taking af ~he Pmpeny. Ihe procceds shall he applieJ to the sums securcd by this Mort~age, with the excess, if aoy, paid to Borrower. In the event ot a partial taking of the Property, unkss Borrower and I.ender otherwise agree in wriling, there shall be applied to Ihe sums securcd by this Mortgage such proponion of the proceeds as is equal to that proportion which ~he amount o( the sumc cecured by this Morigage immediately priar to the date of taking bears to the fair market value of thc Pmpcrty immediately prior ta the Jate of taking, with the balance of the procoeds paid to Borrower. if the Property is at?andoned by Aorrower. or if. af~er notice by l.ender to BoROwer that the condemnor oifen to make an award or ceul~ a claim for dam~ges. Borrower fail. ~o ~cspc~nd to I_ender within 30 days after the date such notice is mailed. i.ender i~ authorized ta collec~ and apply the prc~cceds, at l.ender's aption, either to restontion or tepair of the ~ P~opcny or to thc sum~ sccureci hy ~hic Mor~ga~te. . Unksc I.ender and Borrower c~lhervvice agree in v?•ri1~ng, any such applicali~n of proceeds to principa) shall not extrnd or postpcme the due date ot the man~hly inslallmcnls referr~~d ta in paragraphc 1 and 2 hereof or change the amaunt ot such installc~ents. - 10. Eorrowe~ Not Rektsed. Eztension of the tim~ for payment or modificalion of amortization of tht sumc securcd by ~his Martgage granted by I.ender to any ~uccccsor in interect of Barrower chall no~ operatc ro releau, in any manoer. Ihe liabiliry of thc orl6inal Borrower and &~rrovvcr'c successorc in interest. I.ender shall not he required to commenre proceedinRt agairxl such successor or refuse lo ertend time for ~+ayment or olhenvise modify amortizaUon oi ~hr wms secured by thn M~rtgage by rcason ut any demand made by Ihe oriRinal Bormwer and Rorrower s soccescors in intercst. 11. Forbeannce by I.ender No1 a Wsiver. Any fonc~arance hy 1_ender in e~ercising any right or remedy hereu~der. or othenvise afforded by applicable law. shall no~ he a waiver of or preclude the exercise of any such right or remtdy: The procurement of insurance or the paymcnt of tares or othcr liens or charges by I.ender shall oot he a waiver of Lender's right ta accelerate the maturity of the indehtedne~s cecurcd hy thic Mortgage. 12. Remedks Cnmulati~e. All remcciies p~~vided in this Morigage are distinct and cumulative to any olher right or remeJy under this Mortgage or affordcd hy law or equity. anJ may be exercised concurrently, independently or successively. ' 13. Saccessors snd Asai~as eound: .Jant and Scveral I.iaM`lity; Capdons. 71x covenants and agreements hercin camained shall hind, and the riRhts hereunder shall im~re to. the respective succe~u~rs and assigns of I.ender ~d Borrower. subject ta the provisionc of paragraph 17 hereof. /111 covenants and agrcements of Borrower shall be joiry and ceveral. "ilu captions and headings of the paragraphc of this Mortgage are for convenitnce only and are not to be uced to interpret or define the provisions hercof. _ 14. Notice. Except ior any nolice rcyiiired under applicable law to be given in another manner, (a) any notict to Borrower provided for in this Mortga¢e shall be given by mailing such notice by certi}ied mail addres~ted to Borrower at the Property AJdress or at such whcr address as Borrower mav designate by notice to I.ender as pro~ided hcrein, and (b) any notice to Lender shall he givcn hy certified mail_ reu~rn receipt requested. to t.enders address stated herein or to such other addresc as l.ender may decignate by n~tire li• Borrower as provided herein. Any notice pmvided for in this Mortgage shall be d~emed to havc I~cen givcn to B~rmwcr ar I_ender when given in the manner designated herein. 1S. Uniform Aiort~a~e; Governi~~ Iaw: Severabilifv. This fortn of mortgage combines uniform covenants for national ?~se and nomuniform rnvenamc wi~h limited varia~ions by juriselictiem to constitute a uniform securiry instrument covering real property. This Mongage shall he governed hv the law of the jurisdiction in which the Property is located. In ihe event tha? any provision or clauce of thic M~rtgage ~•r the Note conflicts wi~h applicable law, such conflict shall not aBed ~ other prmisions of this Mortgage or the N„te which can be given efiect without the conflicting provision, and ta this ~ end the provisians of thc Mortgagc and the 'dotr are Jcc:lared to be severable. ~ 16. ~orrowe~'s Copy. Borrower ~hall F?c furni~hed a conformed copy oi the Note and of thic Mortgage at the time of ezecution o~ a(ter recardation hereof. ! 17. Transter of the Propeirtv: Accumplion. if aU or any part of the Propetty or an intercst therein is sold or transferred ~ by Borrower without Lender's prior wrincn c~~n,ent. excluding (al the crcation of a lien or encumbrancs sutx~rJinate to ~ this Mortgage, (bl the creation of a ~urchaK: m~~ne}~ ~ecurity mteresl for household appliances. (c) a tranc(er hy devix. i descent or by operation of law upon the death of juint tenant or (dl the grant of any Icasehold interest of threc }~ears or lets ~ not containing an option to purchase. I.ender may. at I.ender't option, declare all the sums secured by this Mortgage to be ~ ,mmediatelydue and payable. Lcnder shall h:,ve waived such option to accelerate if, prior to the cale ar ~ransfer. l.enJer ~ and the person to'•whom the Properly ie to be so1J or transterred reach agreement in writing that the credil ~f wch per~on is satisfactory to Lenekr and that the imerc.t pa~•able c?n the sums ucured by this Mortgage shall be at such rate ac I.cnder ~ shall reques/. if I.ender has waiveJ the option to accelerale pmvided in this paragraph 17, and if Borrower ~ ~uccessor in interest hac executed a writlen assumption agreement accepted in writing by I.enJer, l.eeder shall release Barrawer frbm all ~ obligations undcr this Mortgage and the Note. ~ if Lender exercises such option to accelerate. I.enJer shall mail Borrower notice ot acceleration in accordanc~ ~~h ~ paragraph 14 hereof. Such notice shal! provide a periexl of not less than 30 days from Ihe date the notice is mailed within ~ which Borrower may pay the sums dtclared due. Borrower failc to pay such sums prior to the expiration of wch per~~xl. ~ !_ender may, without further notice or demand on 13orrowcr, invoke any remedies permitled by paragraph IR hercof. ~ Norv-UHiFOanr CovErv~KTS. Borrow~r a~d I_ender further covenant and agree as follows: ? l8. Accekratba; Remedies. Except as pmvWed in paraRrapA 17 bereot. upoa Eorrower's brescb~ of say coreaaat or agreement of Borrower in t6ts Mwtga~e, indudlnR the co~enants to pay wheA due aey snms murcd by this MortRaRe. i.eade~ prbr fo secekratbn sbdl maF! notke to dorrower as provided in pa~~aph 141~ereot specitrla~: (1) tAe breach: (31 the sction requircd to enre sach breaeh; (3) s dste. aot le~ Ihan 30 days trom tbe date tbe potke [s a~a&d to SoROwe~, br whicb such ' bresch must be cnred: aod (4) lhat taflerr to curc s~cb bresca ow or betore the date specNied In the notice may result in i sccekration of t6e wa~s ~ecured by tb~s Mortsa~e. tweclowre by judkial procesdiu~ sad sak of tbe Prope~. The notice E shall turther inform Eorrower ot the riRM to rcfastsle ~ter sccekrstion and tbe riRht to asiert ia tbt toreclosurt proceed6~ E, tbe non-e:istenre ot a defanM o~ aay other detense of Borroner to accekntion and toreclasure. It the brescw is oot crred ou ~ or before the date speciRed ia the notke. Lender ~t I.ende~'s oplbn may declue aN ot the sn~as seeured by this MorfRa~e to be ~ immedfatdy due and psyabk without turthtr demand and msy torecbse thb Mort~a~e by judkial proceedinR. i.ender chall ~ be entitled to colket in snch proceedin~ aU e:pcnses of forectosnre. includia=, bnt eot 8mited to, rea~onsbk att~~rney's fees, ~ snd costs ot docne~entary erideace, abstracts and Iilk nports. 19. aon+ower's RI`bl to Reiastate. NcNwithuanding I.ender s acceleration of the sums securcd by th~c M.xtgagc. ~ Borrower shall have the right to have any procced~ng~ F~cg~in hy I.e~der to eo(orce this Mortgage discontinued at any time ~ ~ t ~ ~o~ 296 479 3 - ~ ~ ~ ~ a~ : ~ „ - - - ' ` - - - - - - - ~^=;t ~ ' ~~.`v~ : a-z,~..x ~ ti M ~.-w~.. ' ~ ~ ~m~`r - Y . _ . =3 ~ . ~