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Home My WebLink About0492 . • ~ 't ~ • t.ender's w~itteo agrcement or spplicaMe law. Botrowe~ shsll piy tho sinount ot aU mortgage insurance ~remiums in the mantx~ pravided unde~ paragraph 2 heroot. Any ~mounts disbursed by I.cnJer pursuant to ihis patagnph 7, with intcrest thercon, shall become addiliona) ~ indehtedness o( Harrawcr secured by ~hia Mortgage. Unletc Bo~rowe~ aod 1_enJer agroe to othcr tertns of payment. ~uch ama~nts shall be payabk u~n notice f~om I.ender to Borrower reques~ing payment thereof, and shall bea~ iMercst irom the da/e of disburxment al the rate payahk t~am time to lime cm outatandina principa) unde~ the Note unkss paynfeM of ir?terest ~t :uch rate would be contrary to applicable law, in which event such amounts shalt bear interest at the hiahest nte pe~mitsible u~der applicable Isw. Nc?thing rnntainec) in this paragnph 7 shall require t.ender to incur any experae or talce any action hereunder. S. I~peetios. I.e~Jer may make or cause to 1~e made reasonabk eotriec upon and inspections of the Property. provided that l.e~xle? xhall give Borrower ?xNice priat io any such inspectian speci(ying reuonabk cause thercfor relatod to I.ender't inleresl in Ihc Propcriy. 9. Conden~wtbn. The proceedc of any award ar claim for damaaa, dircet ar consequentiol, in connection with any condemna~ion or dher taking of the Propeny, or pa~t therrn(, cx for conveya~x-e in lieu of condemnatioo, are hueby~u~i~ncd and shall !+c paid to I.ender. In ~he cvent of a tMal taking ot the Pmpeny, :hc prcx;ecds chall hc applied to ~he sums secured by this Mortasge. with ~he exceu, it any, paid to Borr~wer. In thc cvcnt o( a partial taking at the Property, unlccs Borrower and I.ender o~herwi~e agra in writing. therc shall be applied to ~he cums secured by this Mortgage such proporlion of the procteds as ic equal to Ihat p~opoNion w•hich the amounl c./ ~he sum~ ucured by this Martgagt immediately prior to the date of taking bearc to the fair market value of Ihe Proper~y immediately prior ta the date of taking, with the balance of the pmceeds paid to Borrower. It the Property ic ahandoned by Borrower. or if. after notice hy I.ender to Bormwer that the condemnor ofters to make an award or cetlle a claim (or Jamage~. &~rmwer fail. t~~ retipcmd to I.ender within 10 days atter Ihe date such nMice is mailed. i ender i~ aulhorized to rnllecl and apply ~he proceeds. at l.ender i aption, either to restoration ar repair of ihe Prnperty or lo the sum~ cccured by Ihis Morlgagc. Unlesc 1.enJer and Borrower Mherwiu agree in N•ritinF. any such applicatic?n af proceeds b principal shall not extend or {xxtpc~nc the due date of the momhly in~l~llments referrcd ta in p~rag~aphc I and 2 hercaf or change the amouot of sucti installments. l0. Eor~ower Not Rcle~scd. l~xtension ot the ~ime tor payment o~ moditication of amortization of the sumc securcd Ty this Mortgage granted by LenJer 1~. any «KCCCwr in interect of Rorrower ~hall no~ operale to release, in any manner. Ihe liabile~y o( the original Borrower and &~rrower'~ succescor~ in interes~. I.ender thall not he rcquired to commerx:e proceedingz against such succecsor or refuce to eY~enJ time for payment or otherwise modity amortizat~on of Ihr ~+~ms ceciued by this Mortgage by reason :~ny demancl made by the oriQinal E3orrower and Rorrower s succe~con in interect. ~ l l. Forbearance by I.ender Not a Waiver. Any f~rhearance by l.ender in exercicing any right or remedy hercnnder, or otherwise aBorded by applicable law. chall n~t he a waiver of or preclude Ihe exercise of any such right or remedy. The procurement of insurance or the payment ot tatir~ or cNher liens cx charges by I_ender shall not he a waiver of Lender's right to accelerate the maturity of the indehtednecs cerurcd hy thic Mottgage. l2. Remedies Cnmulati~e. All reme~lies prov~ded in thic Mortgage arc distinct and cumulative to any other right or remeJy under this Mortg~ge or afTorded hy law or eyuity, and may t?e exercised concurrently. independently o~ succetsively. ' 13. Sncctswrs snd Asai~ns Eound: Joint snd Several I.iabiliry; Captbns. The covenants and agrcements herein conlained chall hind, rnd the ?eRhts hereunder ~hall ~n~:rc to. the respective succesu~rs and acsigns of i.ender aod Borrower. subjcet to the provisionc of paragraph 17 hcreoL All rnvenaMs and agreementc of Borrower shall be joiry and uveral. The captions and headings of the paragrrph~ of thia Mortgage are for convenience only and are not t~ tx uced to interpret or define the provicion~ hercof. 14. Notice. Ezcepi for any no~ice rcyuired under applicable law to be given in another manne~, fa) any notice to Borrower provided for in Ihis Mortgaec shall he given by mailinR such notice by certified mail addrecsed to Borrower at the Property Address or a~ cuch ~~ther addres~ as B~~rrower mav decignate by ~otice to I.ender as provided herein. and Ih1 any notice to Lender shall he givcn by cu~ified mail. re~um receipt requested. to l ender c address stated herein or to euch other addresc as i.ender may de~i¢nate by n~tice 1c~ Bormwer as provideJ herein. Any notice pmvided for in thic Mor~gage shall be deemed ro havc hecn grvcn to B~rrc~wer ar I.ender when given in the manner designated herein. 1S. UnHorm MoriRaRe: Corernin~ [aw; Severobilily. Thic torm of mortgage combines ~miform covenants for national uu and tx~n-uniform covenant~ with limiled variationc by jurialiction to constitote a uniform securily instrument cmering t real proExr~y. This Martgage shall he Roverned hv the law of the juriscliction in which the Property is located. ln the zvent thal any prpvision ~x clau~e of ~hic M~rtgage nr the No~e rnnflicts wi~h applicable law, u~ch conflict shall not affect i other prov~eionc of this Mortgage c~r the N~+tr which can t+e given eHect wilhout tht conflicling pmvician, and to this ; end the provi~ions of ~hc MortRage and thr '~1ote arc declared to Fx uverable. - , 16. Bosrower's Copy. Borrower ~hall Me furn~~heJ a conformed copy of the No~e and of thic Mortgagt at the time ~ ot execution or a(ter recorda~ion hereof. 17. Transter of the Property; Accumption. 1t all c.r any part c~f the Property or an interest therein ic sold or tranaferred by Borrower without l.ender's'prior wrinrn comem. exclading tal the creation af a lien or encumbrance cubordinate ta thic Mortgage. [b1 Ihe creation e?f a ~urchaM: m~•nevi cecuri~y mterest for household appliances, (c) a trancfer hv dcvise. descenl or by operation of law upon Ihe dea~h of c+ j~?~m tenant or ldl the grant of any Ieasehold interest of Ihrec yeart or lecc not containing an option t~~ purchase.~'1.ender may. at Lender'c opt~on. declare all the sums secured'by this Mortgage to be emmediately due and payable. I.cnder thall h~ve w a~ved such op~ion to accelerate if. prior to the cale ~r transfer. I.enJer and the person to whom the Property i~ t~. be u~l.l ~~r ~rancferred rcach agreement in writing that the credi~ of wch pereon i~ salisfaclory to I.enJer and that the interr.t payable c.n the sums secured by this Mortgage shall be at such rate a~ I.ender shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Bcirrower'> >uccesuir in ~nterest has execuled a written assumption agreement accepted in writing by I.ender. I.ender shall ydeace Borrower from all ~ obligations under this Mortgage and the Nate. If Lender exercises such option to accelerate. Len~kr ~hall mail Bc~rrower ~otice of acceleration in accord:mc~ :~~~h paragraph 14 hercof. Such notice shall proviJe a pericxl of not lesc than 30 dayc irom the date the notice ic mailed within ~ which Borrower may pay the sumt declared due. lf Rorrower fail~ to Pay sach sums prior to tht expiration ot ~uch pert~xl. ~ I.enJer may, wilhout furiher nolice or demand on F3orrawer, invoke any remedies permitted hy paragraph I R hercof. ~ Nor+-UtvtFOaM CoveN~NTS. Borrower and Lender further covenant and agree as follows: g l8. Accelerstbn: Remcdks. Excepf as prnvWed in panRnph 17 hettot. upon aorrower's brcacb of aay covenaet or ~ agreemeet of Borroner in thk Mortga~e. includin~ the corensnls fo psr wben due sny smns secored by thk MorlRs~e. i.ender . ~ prior fo accekraNon sball ~ail nolke fo aorrower as prorWed in psrs~raph 14 hereoi specNria~: (1) the breach: 12? the scfion ~ required to core such breach; (3) a date. not less than 30 days fwm the dMe the notice b mafkd to Dorrower. by whkb such ; brcacA mwt be cnred; sad (4) Ihat fdlure lo cure sach brcach on or bctore the d~e speci8ed ip the nolke msy result in i accderatbn oE tbe sou~s tecnred br Ibis Mort~sRe. tonclosure by judkial proceediuR snd sale of tbe Prope~. 'I7~e nMke ~ shall further inform dorrower ot the ~ht to reinstate ~t1er accekrslbn and the ~bl to s~e~t in the forecbwre proceedia~ ; tbe non-exktence of s detauk or any other dcfense of sorrower lo scnkration and forecbsure. If the breach is not cnred on ~ or 6eton the date specified ia the notice, l.ender at t.rnder's optbn msr declare aq ot the snms secured by thts MortRa~e to be ; immedistely due and payable withnnt fuAher-demand and mAy foreclose tfiis Mort~a`e by judicisl proeeedf~. Lender chall ~ be cotitkd to collect in s~ch proceedi~ sU expenses .~f toreclosurc. laclndir~. but not limited to. nasonabk att~~rney's fees. $ and cosb ot docnmentary e~idence, abstracts snd titk reports. ~ 19. sorrower's RiRbt to Reiaststt. tic.~witf?ctandin~e t.ender's acceleration oi the sums ucured by th~s M.~ngag~. ~ Borrower shall have ~he right to have any proceeding~ he~un tiy t.ender to enforce this Mortgaqe disconUnued at any time ~ ~ GR ~ eooRz9~ ~ncE 4~1 ~ . - - _ - ~ _ _ - _ _ _ - - ~ ~ ~ ~ ~ Y ~ ~ ~ ~~~r~ . . - ~