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Home My WebLink About0831 . . ' . aRreement or applicable !aN•. HorroM•c~ stiall 1?ay the amount of all mortKaqe insur~nce premiumti in the mannt~ pro~•ided uncle~ paraqraph 2 hereot. Any amounts disbursed by l.endrr punuant to this paraRraph 7. w~th intcrr+t th~re~~i~. +hall 1?c~ome adclitional in- drbtc~inrss o[ Borroaer secural by this ~lurtKake. Unles~ Bor~~~wer and Lrnder a~rr ~o othrr trrm~ ol pa~ment, suth amounts shall be payablc uFx,n uoticr t~~~m l.eudcr ~o Borrower ra~uc~cing pa~•rnrnt ihrrco(, a~~ii shall t,rar iuterest [rom ehe date of disbursement at the r-rte pa~•able (rom time to timr ou outstaodinR prinii~~al u~~drr thc \otr unlcs. payment o( interest at such rate would be coner•rn• to applicable law, iu which event such amounts ~hall l,ear interc~t at the highest r:~te permiuible under applicable law. \othinR coutainect in this paragraph 7 shall require l.ender t~ incur auy expense or take any action hereunder. 8. Inspettion. Lender may make or cauu to be made r~asonable entries upon and ins~xciions of the P~operty, pro- ~icleci that Lender shaU gi~•e BorroMe~ ~iotice prior to any such inspectirn~ specifyinR reauiuable cause there(or related to Lender's interest in the Property. 9. Condemnuion. The prexeeeis of any award or daim for damages, direct or con~equential, in connection with any condemnation or uther taking oF the f'ropen~•, or part thereof, or tar com•eyance in lieu c?f condemnation, are hereby as- siRucd and shall be paid to Ltodcr. ln the e~•ent o[ a total taking ot the Propert,y, the proteeds shall be applied to the sums secureJ by this ~iortqaae, Mith the excess, if an~, paid to AorroNer. 1~~ the e~~ent o[ a partial takinq o( the Pro}~erty, u~iless Burroher and Ixnder utherwise aRree in wnting, there shall be applieel to the sums secured by this \IonRake such pro~rtion ot the proceeds a. is equal to that proportion which the amount oi the sums secured by this \tortRaRe immediately ~~riur to the date oF taking bears to the fair market ~•alue ot the Property immediatel} prior to the date of taking. Mith the balance ot thc pro- ceeds paid to Borrower. I( the Propertr is abandoned by- Ao~tower, or if, after notice by Lender to Borrower thae the condemnor of[en to make an arvard or settle a claim for damag~s. Borrower fails to respond to Lender within 30 da~•s aftcr ihe date such notice is maileci, Lender is authorized to collect and apply the proceecls, at Lender's oPtion, eithet to restoration or repair ot the Propert}• or to the sums xcured by tt~is \tortgage. tJnless Lender and Borrower othensise agree in writing, ar~y such application of proceeds to principal shall not extend or postpone the due date of the monthly installments reitrred to in para~ra f.h~ 1 anct 2 heren( or chanRe the amount of ~ such instaUments. • 10. Borrower Not Released. Extension ot the time for pa}~ment or mociification o( amorte~ation o( the sums secured M• this \fortqage granted b~ Lender to any successor in interest of Borrower sl~all not o~~cratc to releasc. in any manner, the liabilit}' ot the oriRinal Aorrower aud RorroMCr's sutcesson in iutere~t. Lender ~hall not be required to commence pr~xeediuRs aRainst such successnr or retuse t~ extend time for ~~a~Tnent or othen.ice m~xlifv amortiiation of the sums se- cu~ed b~• ~hi+ \tortRaRr by reau~n of anc demand made by ehe oriRiual BormNer and Rorrower's wccesu~rs i~~ interest. I1. Forbeannce by Lender tiot a Waiver. :\ny lorbearance by I.ender in e~erci~ii~R an}• right or remed~ hereunder. or otherwise af(orded b~• applicable law, shaU not t~e a Nai~•er of or preclude the erercise anJ• such riRht or remed}•. The procurrment ot incurance or the payment o[ taxes ar other lieus or charRes M• Lender chall unt be a Mai~er of Lender's . ri~ht to accelerate the maturit~~ of ~he ind~•b~ecfness secured 1,~• thi~ ~fonqaRe. 12. Remtdies Cumulative. :?11 remrdies pm~•idecl in this JtnttRaRr are dictinct and cumulati~e to an}• other riRht or remeci~~ uuder this \IortRaRe or afforded M• IaN or equity, and ma?~ be exercised concurrrntl~•. iudependentl~• or successi~•ety. 13. Succeaors and Aisigns Bound: Joint and Several Liability; C~ptiona. "I'he co~ena~~ts and aRreements herein contained shall bind, and the rikhts hereunder shall inure to, the respectice s~uressorx aud assiRns ot l.ender and BorroMer, subject to the pm~•isions oE paraRraph 17 herenf. All co~~enant~ and ap,reements o( Rorrower shal! be joint and se~~eral. The capti.~~~s and headings of the paragraphs ot this \tortpaqe are for con.•enience onl~~ and are not to be used to interpret or define the pro~•isions hereoE. 14. Notice. Except for any uotice reyuired under applicable law to be Ri~•en in• another manner. (a) anc notice to Borroher procided (or in this ~tortRage shall Fx qi~•en by mailinR such notice bvi certiEied mail addrrssecl to Bortower at the ProPeri~~ :~ddress or at such other address as Borrower may designate b~• notice to l.ender as pro~•idect herein, and (b) ! an~ notice to Lender shsll be gi~•en br certi(ied mail. return receipt requestecl, to l.ender i address stated herein or to suth ~ other address as Lender may designate b}• notice to Borrorver as pro~•ided herein. .~m~ uotice pro~•idrd (or in ehis \tor[qa~{e ~ shall be deemed to ha~•e been given to Aorrower ar Lender ~rhen Ri.~en in che manner desiRnated herein. ~ 3 15. Uniform Nortgage; Goa~rning Law; Sraerability. This torm~o[ mortgaRe combinec unitorm co~•enants for na- ~ tional use and non-w~i(orm co~•enants with limited ~•ariationt b~• juriuliction to c~nstitute a uni(otm securit~• instrument ~ co~•erinR real ptoperty. This JtortKaqe shall be qo~•erned by the law o( the jurisciiceion in h•hich the Propert~• is located. q In the e~~ent .that am• pm~•ision or dause o( this ~(ortRaRe ot the \ote con(lictx ~.ith applicable IaN•, such conllict shall not ; aftect other proa•isions of this \iortRaqe or the \ote Mhich can be Ria•en e[[ect Nithout the conflictinR pro.•ision, and to ~ this end the pro~•isions of the \tortRaRe ancl the lote are declarecl to be se~•erable_ 16. Borrower's Copy. RorroNer shall be furnished a con(ormed copl' ot the \nte and of this \fortRaRe at the time ~ of eaecution or atter recordation hereof. ~ ` 17. ?nnsfer of the Propertv; asumption. If aU or an}• part o( the Propertc nr an interest therein ic sold or trans ~ (erred by Borror+er without Le~ider's Prior Mritten consent, accludinR (a) the creation ot a lien or encumbrance subordinate ~ to this \IortRaRe. (b) the aeation of a~urchase moneJ• securit~• interect for household appliances. (c) a tran+ter b~- de~ise. ~ dcuent or b}• operation of laN upon thc dcath ot a joint tenani or (dj thc t{rant ot anc leaschold interest of three }•ears or ~ less n~t containing an option to purchase. lxnder mav, at Lender's option, declare all ~he sums secured M• thi~ \tortqaqe to ~ ~ be immediatdr due and pa}'able. Lender shall hace w~ived such option to accelerate iL prior to the tale ~r trans[er. Lender ~ and the person to Mhom the Pro~ert}~ ic to be +c,ld or transferrrd reach a~;reement in MritinR that the creciit of such person ~ is satis(actory to Lender and that the interest pa~able on the sums secured by this \(ortRaRe shall be at such rate as Lender ~ shall request. If Lender has wai~•ed the option to accelerate pro~~ided in this paraRraph 17, and i( Borrower's successor in » ~ interest has executed a written assumption aRreement accepteci in writinq by L.enrler. Lender shall release Borrower from all obligations nnder this \fortRa~e and the \ote. If I.ender exercises such option to accelerate. Lender shall mail BorroMer notice n! acceleration in accordance Nith - parapraph 14 hereof. Such notice shall pro~•ide a period o[ not less than 30 da~•s from the date the notice is maileci ~ithi~? 'Y Nhich Borrower ma~• pay thr sums declared due. lf Borrovrer tails to pa}• such sum~ prior to the expiration oi such period. Lender may, without further notice or demand on BorroMer. incoke any remedie~ permitted by paraqraph 18 hereof. - I~O\-U\IFOR11 CO~'E~Ah7S. BOiiOWCi and Lender further co~•enant and agrec as (ollows: I8. Acceleration; Remedies. Eacept as pro~•ided in paragraph 17 hereof, upon Borrower'a ~breach of any rn~enast or agreement of Borrowe~ in this Mongage, including the co~enants to pay whrn due an} sums secure~ef b~~ this :?fortgage, ~ Lender prior to acceleration shall mail notice to Borrower as procidecl in pangra~~h 14 hereo[ s~xcif~~ing: (1) the breach; (2) the action required to cure such bnach; (3) a date, not leta than 30 davs from the date the notice is mailed to Bonower, ~ by which such breach must tx cvred; and (9) that tailure to cure such breach on or lxforc ~he date s~xcifird in the notice ma~ i~ result in acceleration o( the wms xcured by this ~fortgage. [oreclowre br judicial praceedinR and sal~ ot the Propert}. The ~ i notic~e shall [urther in[orm Borrower of the right co reinstate atter accelention and the right to assert in the toreclosun I proceedin~ the nontxistence of a de(ault or any other de[enx of Borrorrer to acceleration and foreclosura IE the breach is I not cured on or be(ore the date sixcitied in the notice. I.ender at Lender's option ma~ declare all of the sums secured by this Atort~e to br imm~diately due and paYable Nithout fnrther demand and may (oralene this ~torq{aR~~bp judicial proceed- ~ ing. Lender shall be entitled to collect in such proceeding all eapenus of foreclosur~, including, but not limited to, reason- abk attorney's fees, and costs of documentary e~•idrnce, ~buracts and tide rcports. ~ Bo~K ~g7 /~r zw' , ~~Y( 8~/7 - :'~7 < r _ . _ . . _ . + ' ~ : ~ ~ ; - 3 ~ r - 5~r,x,.~ k, : ~~s< .wr~ -+S~ ~TC i ~ x~ a " ` ~~'S . ~ . F_:..> ~ _z r~. . . r