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Home My WebLink About0988 ' ~ , ~ ~ Lenckr's written a`reement w applicable law. Borrower shall pay the amount o[ all mort~sge insurs?nce premiurru in the manne~ p~ovided unde~ para~~aph 2 hereof. Any amounb disbur:ed by Lender pursua~t to this pa~a~raph 7. with intet+est theroon, sha11 become additional ~ indebtedneu of Borrower securcd by this Mortgage. Unless Borrower aod l~nder agroe to othc~ ternu of payment, such ~ amounts shal) be payabk upon notice f~o~n I.ender to Borrowe~ requesting payment thereof. a~d shali bear inte~est from the i date of disbursement at the rate payabk from time to time on outatanding principal under the Note unless payment ot ~ interat at auch rate would be cootrary to applicable law~ in which event such amounta shall bear interat at the highGSt rate j permiu~bk under appl'ecabk law. Nothing co~tainod in this paragraph 7 shall roquie~e Lender tq ;i~p nse or take ~ 1 any action Fiereunder. _ . ~ ~ ; a. I~ectlo~. Lender may make or cause to be made rcasonable entries upon and inspections of the Property. pmvided ' that I.tnder shall give Borrowe~ notice prior to any such inspection specifyi~g reasonabk cause thenfor related to Lender't interest in the Pe+operty. 9. Cadeauwdoa, The proceeds of any award or claim for damages, diroct or consequential, in connection with any condemnation or other taking of the Property, or part thercof, or for conveyance in lieu of co~demnation, are henby assigned and shall be paid to Lender. ln the event of a total taking of the Property, the procceds shall be applied to the si~ms securcd by this Mortgage. with the exccss, if any, paid to Borrower. in the eveot of a partial laking of the Propetty. unless Borcower and Lender otherwise agra in writing, there shall be applied to the sums sxured by this Mohgage 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 mark~t value of the Property immediatety prior to the date of taking, with the balance of the proceeds paid to Bormw~er. If the Property is abandoned by Bonower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to I.ender within 30 days afte~ the date such notice is maifed. I.ender is authoriud to collect and apply the proceeds, at I.ender's option, either to restoration or r~epair of the Propeny or to the sums securcd by this Mortgage. Unlas Lender and Borrower otherwise agree in writing, an} such application of proceeds to principal shall not extend or postpone the due date of the monthly installments referrrd to in paragraphs 1 and 2 here:of or change the amou~t of such installments. 10. Eorrower Not Rekssed. Extension of the time for payment or moditication of amorti~tion of the sums secured by this Mortgage granted by Lender ta any successor in interest of Borrower shall not operate to release, in any manner. the liability of the ori¢inal Borrower and Borrower s successors in interest. Lender shall not be required to commence proceedings against such successor or rcfuse to extend time for paymeot or otherwix modify amortization of the sums secured by this Mortgage by reason of any demand made by the oriqinal Borcower and Borrower's successors in interest. ll. Forbeannce by t.eader Not s Waiver. Any forbearance by 1_ender in exercising any right or rcmedy hereunder, or otherwise afforded by applicable Iaw, shall nat be a waiver of or preclude the exerciu of any soch right or remedy. The procunment of insurance or the payment of taxes or other liens or charges by L.ender shall not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured hy thix Mortgage. 12. Remedks Cbmu~e. All r~emedies provided in this Mortgage are distinct and cumulative to any other right or rcmedy under this Mortgage or atforded by law or equity, and may be exercised concurre~tly, independently or successively. 13. Saccessors and Assigas Bound= Joiat sad Several i.iabi~ty; Capdons. The covenants and agreements herein contained shall bind, and the rights hereunder shall im~re to, the respective succes.sors and assigns of Lender and Borrower. subject to the provisions of paragraph 1? hereof. All covenants and agreements of Borcower shall be joint and several. The captions and headings of the paragraphs of this Mortgage are for convenience only and an not to be used to interpr~t or define the provisions hereof. 14. Notke. Except for any notice required under applicable law 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 mai) addressed to Borrower at the Property Addrcss or at such other address as Borrower may designate by notice to Lender as provided herein, and (b) any notice to Lender shall be given by certified mail, retum receipt rcquested. to i.ender's address stated herein or to such other addrcss as Lender may designate by notice to Borrower as provided harein. Any notice provided for in this Mortgage shall be deemed to have been given to Bormwer or Lender when given in the manner designated herein. 1S. UaKorm Mort~e; Gorerni~ I.aw; Severa6ility. This form of mortgage combines uniform covenants for national ~ use snd non-uniform covenants with limited variatior~s by jurisdictan tb constitute a uniform security instrument covering f r+eal property. This Mortgage shall be gove~ned by the law of the jurisdiction in which the Property is lceated. In the ! event that any provision or clause of this Mortgage or the Note conflicts w•ith applicable law, such conflict shall not at~ect ; other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this ~ end the provisions of the Mortgage and the Note are declarcd to be severable. f 16. dorrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time j of exceution or after recordation hereof. ~ ~ 17. Traotfer of tie Property; Assumption. 1f all or any part of the Propeny or an interest therein is sold or transferred ~ by Borrower without Leoder s prior written conxnt. excluding (al the creation of a lien or encumbrance subordinate to ~ 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 tenant or (d) the grant of any leasehold intercst of three years or less not containing an option to purchase, Lender may, at Lender s oPtion, declare :.i~ the sums secured by this Mortgage to be immediately due and payable. Lender shall have waived such option to aocelerate if, prior to the sale or transfer. Lender j and the person to whom the Property is to be _~l~ or transferred reach agreement in writing that the credit of such person # is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender shaU roquest. If Lender has waivod th~~ option to accelerate provided in this paragraph 17, and if Borrower's successor in ~ interest has executed a written assumption agrcement accepted in writing by Lender, Lender shall release Borrower trom all obligations under this Mortgage and the Note. . ~ Jf Lender ezercisa such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. Such notice shall provide a period of not iess than 30 days from the date the notice is mailed within which Borrower may pay the sums declared due. If 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. Nox-UtvtFORM Covetv~x~rs. Borrower and Lerider further covenant and agree as follows: ~ ~y 18. Accdention; Remedia. E:cept as prorided in para`npL 17 hereof, upoa Borrower's breacl~ of sey co~eoad or ~ a~reiweat of Eorrower L t6i~ Mafaa~e, iedndiuuj t6e covenaats to pay wben dne any snms secered bp t6b Mortga`e, Lender ; prior to sccdentloa s6aH ma~ ootke to dorrower a` provided ia pan~rap6 14 6creof spec~yi~: (1) t~e breacti; (2) tbe action reqnired to care src6 6rssci~: (3) a dste. sot k~s Wan 30 da3~s trom t6e date tbt notke l~ maiied to Dorrower, 6y w6k~ soc6 ~ ~ breach mmt 6e crred; aod (4) tl~d faUnre to cnre wch 6reach on or before tbe dNe speci6ed ia t6e notke may resdt ia ~ ~ sccdenitlo~ oE t6e sm~ iecarcd by thh Mortga`e. forecban by jndkW proceediio= aod sak ot tbe Propert~. 'i~e aotice + s6a11 furtber ieform Eorwwer of tbe ri~6t to rei~stah sfter aecekrabioa and tbe rij6t to arert is t6e foreclawre ptotee~q ~ tLe non-e~teoce d a detaak or asy otber de[en~e of Borrower to accekratio~ aad foredoare. N We b[escl~ M 0ot cared oa or before ti~e date speci6ed in t6e aotke, Leader at I.eoder's optioo may declare aH oE tbe mms ~cored by t6k Mort~e ~o be ~ immcdiatdy due ~od payabk wit6oat fn~Wer demaod aad u~ay forscbse t6k MortLa~e bp j~dicLl procecd~. I.e~der shaU be entitl~d to collect in s~h proceedie~ aA ezpeaus ot toreclosorc, iacladio=. but oot ~mited to, rsaso~bie ~to~eys fas, # aed oo~b ot docome~ eNdence, sbdracb and tlde reporb. ~ 19. Donower's Rl~ht to Reiestate. Notwithsta.~ding Lender s acceleration of the sums secured by thia Mortgage, Borrower shall have the right to have any proccedings txgun by Lender to enforce this Mortgage discontinued at any time ~ . ~ ~ s00X ~W PA QQ t ~ ~ ~7~ ~s ~ ~ ~ _ •-v..~-~c~ . . - - r ~ y: - , ~ ~ . _ - ~':4 ~ ~ . ~.-.r"-~~.~..~a~~.-.~.~~„`~_. _ . . - -