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Home My WebLink About0301 Le~de~'s written agrcement or applicabk I~w. Borrower ahall pay tire unou~t ot all mottgage insurance praniuaq in the mnnner provided under parag~aph 2 heroof. Any amounts disbuRCd by l.cnJe~ pursua~t to tha paragraph 7. with inten:st thercoo, shall become additional ioJeb~edncss af Borrowcr securcd by Ihis Mortgage. Unless Borrowet and I.enJer agroe ta altxr ternu ot paymen~ such amounts shall be payabk upan noticc ftom Ixnde~ ta Borrower rcquesting paymenl thereof, and shall bea~ intercst from the date of d'ub~~rsemeot at the rate payabk from time to time on aitataoding principal unde~ the Note unless pa~rtna~t of interest at such rate would be contrarv to applicable law, in which event such amounts shall bear interest at the hi~hat nte permiuibk under applicabk Isw. Nathirt~ rnntained in this paTagr~pli'~ifilrreqwre .e~ r to ~ncur any espetae ot talce any action hereunder. . ~ ' ~ 8. lsspectio~. I.e~der may make or causc to be madc reasonabk entricS upon and inspections ot the Property. provided that l.ender shal) give Borrower nolice prior to any such inspection specitying reasonabk cause theretor relatod to Lender's intcrat in thc Property. 9. Coademaatbo. The proceedc af any award or claim for damages, direct or consequential, in coonoctiot~ with any condemnation or other taking of the Property, or part tfiereaf, or for ccx~veyance in lieu of condemnation. are heteby assigned and shall be paid to l.ender. in the cvent af a total taking af thc Propcr~y, the proceeds ~hall bc appli~d to the sums secured by this Mortgage. with the cxcess, if any, paid to Borrower. In the cvcnt ot a partial taking of the Property, unless Bormwer and Lender ~ othervvise agrce in writing, there shall be applied to. the sums secured Ay this Mortgage such proportion ot the proceeds as is equal to that pmporiion w•hich Ihe amount ot ~he sumc secured by this Mortgage immediately prior to the date of taking bears to the fair ma~ket value of thc Pr~~pcrty immediately prior to the Jate of ~aking, with the balance of the proceeds paid to Borrower. - 1f the Property is ahandoneci by Barrower. or if. after no~ice by i.ender ta Bormwer that the condemnor oNen to malce an award or setNe a claim far d~m~ges. &~rmwer faih to respond to l.ender within 30 days after the date such notice is mailed. Lender ic authorized to collect and apply the prc~ceeds. at 1_ender s option, either to ratoration or repair of the Property or to the sums sccured hy this MortRa~re. Unless I.ender and Borrower otherwice agrec in N•riting,.any such application af proceeds to principal shall not extend or postpone the due date of the monthly inslallmcnls referred to in paragraphs 1 and 2 hereof or change lhe amount of such installments. 10. Bom~w~er Not Released. Exten~ion of the time far payment or modification of amortization of tht sums secured by this Mort~age granted by I.ender to any a~ccecsor in interect af Borrowtr ~hall not oE?erate to rckase. in any manner. the liability of the original 8orrower and Borrower'c succesu~rc in interest. i_eoder shall not be required to commence pr~c..~dings ~gainu such successor or refuce to e+ctend time for payment or oth~r.~•ise modify amortization of ~hr ~ums secured by this Mortgage by reason of :~ny demand made by the orieina) Borrower and Bormwer s successors in interect. 11. Forbeannce by I.ender Not a Waiver. Any~ fc?rhearanre hy l.ender in exercising any right or remedy hereimder, or otherwix afforded by applicable law, shall not he ~ waiver of or preclude the exercise of any such right or rcmedy. The procurement of insurance or the payment of taxes or other liens or charges by I.ender shali not he a waiver of Lender's right to accelerate the maturiry of the indehtednecs ~ecured hy this Mortgage. l2. Remedks Camulati~e. All remeciies pro.~ided in this Mortgage are distinct and cumulative to any other right or • remedy under this Mortgage or afiorded by law or equiry, and may be exercised concurrently, independently or succescivety. ' 13. Successors and AssiRns Bound; .Joinl and Sereral I.iability; Captions. The covenants and agreements hercin contained shall bind, and the rights hereunder shall inure to. the respeetive successors and assigns of Lender aod Bort~ower. subject to the provisions of paragraph 17 hereoL All covcnants and agreements of Borrower shall be joir~ a~d several. ' The captions and headings of the paragraphc of this Mortgage arc for comenience only and are no: Io be u~ed to ~ interprct or define the pro~isions hereof. ~ 14. Nolke. Except for any notice rcyuired under applicable law to be given in another manner. (a) any notice to Bonower provided for in this Martga¢e shall he given hy mailing such notice by certified mail addressed to Bc+rrower a~. ~ the Property Address or at such whcr address as Borrower may designa(e by notice to ~.ender as provided herein. and ; (b) any notice to Lender shall he given hy certificd mail, return receipt requested. to l.enders address stated herein or to such other address as Lender may decignate by~ n~~ire to Borrower as provided herein. Aoy notice provided for in this ` ; Mongage shall be deemed to havc t+een given to Bormwe~ or Lcnder when given in the manner designated herein. i 1S. Uaiform 1?tori~a~e: Covernin~ Iavs: Se.erabilily. This form of mortgage combines uniform covtnants for national i ~~se and non-uniform covenants with limited variations h}~ jurisdiction to constitute a uniform security. instroment covering [ real property. This Mortgage shall be governed hy ~he law of the jurisdiction in which the Properiy is located. In the F event that any provision or clause of thi~ Mortgage c?r ~he Note conflicts w~ith applicable law, such conflict shall not affect ~ other provisions of this Morigage or the Nntr which can be given efTect without the conflicting provision, and to this ~ end the provicions of ~he Mortgage and the *Iate am ~ieclared to be severable. ,"s 16. Borrower's Copy. Borrower shall t+e furniched a conformed copy of the Note and of this Mortgage at the time . ~ of execution or after recordation herec~f. ~ l7. Tnnsfer of the Propetiv; Assumption. If all or any part of the Property or intercst therein is sold or transferred ~ by Borrower without Lender's prior wrinrn con~em. excluding (al the creation of ~lien or encumbrance subordinate to this Mortgage. (bl the creat~on of a purch~cc mi~nr}• ~ecurity interest for household appliances, (c) a transfer h}~ devise. ~ descent or by operation of law upon the death of a j~~~nt tenant or (dt the grant of any leasehold intercst of three ycars or le~c R not containing an option to purchase. Lender may, at t.ender t option, dec{are all the sums secured by this Mortgage to be ~ immediately dtx and payable. Lcnder shall have waived such option to accelerate if, prior to the sale or transfer, l.ender ~ and the person to whom the Pmperty is be :o1J or transferred reach agreement in writing that the credit of such person ~ is satisfactory to I_ender and that the interr.t pa~•able on the sums secured by this Mortgage shall be at such rate aa 1_ender shall request. If l.ender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in ~ interest has executed a written assumption agreement accePted in writing by i.ender. Lender shall releau Borrower from all ~ obligations under this Mortgage and the Note. ~ If Lender ezercises such option ta acce(erate. Lender ~hall mail Borrower notice of acceleration in accordanc~ ith a paragraph 14 hereof. Such notice shall provide a period of not less than 30 days fmm 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 ~uch peric.d. ~ Lender may, without further notice or ciemand on Korrower, invoke any remedies permitred by paragraph 18 hercof. ^ NoN-UrtiFORnt CoveNen7s. Bortower and 1_ender furiher covenant and agrce as follows: 18. Aceekration; Remedia. B:cep as pmvided in para~nph 17 bereof. upon Eorrowt~s breach ot asy co~ewsnt or = agreen~tat of Borro~+er in tb~t MortRage. includir~ t6e corcnants to pay r?hea dut any snms secured by this Morl~sRe. Lender - prior lo sccekratioe sball mail notice to Borrower as provided in parsaraph 14 hereof specityit~: (1) t~e brrscb:/2) tbe sction requtred to core sucb Mesch; (3) s date, not kss than 30 days tro~a Ihe date tbe notice b ouifed to Eorrower, by rrhicb sncb ~ breach mast be csred; aad (4) that faflure to cun sach breach oa or before the date specified in the aotice may result ie ~ sccekntion ot t6e soms securrd by tbis Mort~a~e. fo?ecbsure by judicial proceediu~ aad sak ot tbe Property. The notke I - shaU further inform Eorrower of the right to reinstate after sccekratbn and the right 10 ~ssert in tbe toreclosure ~ueee~ f I ` t6e non-existeace of a defank or aay other defense of Borrower to accekrstion and tortelosnre. If tbe bresch is aM cored oa or before the date specified in tbe notice. Lender at I.rnder's optan may declsre a~ of tbe sen~s secnrtd by fhts MortRa~e to be immediately dut and payabk r?ithout furlher demand and may forcclost thls Mort6a~e by jtidicW proctediaR. I.eader chall be eot~tkd to colleet in wcb proeeedirq~ aM e:penses oi foreclosurc. includi~, b+~t nM limited to, reaso:~abk attvrney s fea. - snd costs of docns~eatary evldeace, abstracts and titk rrports. - 19. Eorrorrer's Ri`ht to Reinstate. Notv?ithsianding I.enders acceleration of the sums securcd by this M~rtgage, ~ Borrower shall have the right to have any proccedmFs hcgun hv I.ender to enforce this Mortgage discontinued at any time ~ ~ - ~U~1K ~ 7~ f,~l9f s~ - ~ ~ . ~ e_ ~`s . ~ _ . , _ •c~ ~