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Home My WebLink About0195 ~ . . • 2~ ~ Len~isr's written agrnment or applicable law. Borrower shall pay the amount of ail mortgage insurancc premium~ in the ' manner provided undcr paragraph 2 hercof. ~ Any amounts disbursed by Lender pursuant to this parag~aph with intercst thereon, shall bccome additional ' inckbtedneu of BorrowYr securcd by this Mortgage. Unless Borrower and l.enJer agree to other terms of payment, such f amounts shall be payabk upon no~ice from ~cnder to Borrower requesting payment thereof, and shall bear interest from the ! date of disburseme~t at the rate payable from time to time on outstanding principal under the Note unless payment of ~ interest at such rate would be contrary to applicable law, in which event such amounts shall bear intercst at the highest rate ~ permissibk under applicabk law. Nothing contained in this paragraph 7 shall rcquire Lender to incur any expense or take any action herounder. ~ S. I~spectloo. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided that [.ende~ shall give $orrower notic~ prior to any such inspection specifying reasonabb cause thercfor related to Lender's ~ interest in the Ftnperty. ~ 9. Cowka~atba. The procceds of any award or claim for damages, direet or conseque~tial, in connection with any condemnation or otber taking of the Property, or paN thereof, o~ for conveyance in lieu of condemnation, are hereby assigoed and shall be paid to Lender. ' in the event of a total taking of the Property, the proceeds shall be applied to ~he sums secured by this Mongage. ; with the excess, if any, paid to Borrower. Tn the event of a partial taking of the Property, unless Borrower and Lender t otherwix agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the pr~oceeds ~ as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of E taki~g bears to the fair market value of the Property immediately prior to the date of taking, wlth the balance of the pr+oceeds paid to Bormwer. ~ ~ If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower ihat the condemnor offera to make an award or uttlt a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is mailed. Lender is suthorized to collect and apply the procceds, at Lender's option, either to ratoration or reps~+r of the Property or to the sums secured by this Mortgage. _ Unless Lender and Borrower otherwise agree in writing, ~~I~ption of proceeds to pnncipal shall not extend ' or t ne due dale,of_the monthly installme~ts referred t~~p~phs 1 and 2 her'eot or change the amount of - ~ at]I~ r, , . ~ . . ~ ~r Not~tt ~ Extension of the time for payment or modification of amortization of the sums secured tk~' - "'"~t ~~ii e granted by tender to any successor in interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower and Borrower s successon in intercst. Lender shall not be required to commence proceedings against sucfi successor or refuse to extcnd time for payment or otherwise modify amonization of the sums secured by this MoAgage by reason of anX demand made .by the original Borrower and Borrower's successors in interest. l l. Forbeanoce by Lender Not a Wdrer. Any forbearance by Lender in exercising any right or remedy hereunder, ot otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. The procuremeot of i~surance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's ~ right to accelerate the maturity of the indebtedness secured hy this Mortgage. 12. Rea~edks Comulathe. All remedies provided in this Mortgage are distinct and cumulative to any other right or remedy under this Mortgage or afforded by law or equity, and may be exercixd concurrently, independently or successively. 13. Secceseon and Assigns ~ound: Joint aad Sereral T.iaDNty; Csptions. 'fl~e covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Bornower, subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several. 71~e captions and headings of the paragraphs of this Mortgage are for convenience only and a~ not to be used to interprct or define the provisions hereof. ~ 14. Notice. Except for any notice required under applicable law~ to be given ia another manner, (a) any notice to Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Bonower at the Property Address or at such other address as Borrower may designate by notice to t_ender as provided herein, and (b) any notice to Lender shall be given by certified mail, return receipt requested, to I.ender's address stated herein or to sucn otner aaaress as ~.cncier may UqIs116IC oy nvii~c [u nuri~wer as piu.iuc.i iiCiciii. tiiiy iiiiil~c ~iJViJ~J t~r :r iliiS Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. 15. Uaiform Morigage; Governia~ Iaw; Severability. This form of mortgage combines uniform covenants for national use and non=uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. Tn the i event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this i end the provisions of the Mortgage and the Note are declared to be severable. 16. Eo~rower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time ` of ezecution or after recordation hereof. ~ ~ 17. Traatfer of the Property: Aswmption. If all or any part of the Property or an interest therein is sold or transfened by Borrower without Leoder's prior written consent, 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 all the sums secured by this Mortgage to be immediately dtx and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer. Lender ~ and the person to whom the Property is to be wld or transferred reach agreement i~ writing that ihe 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 shall request. Tf Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interest has execated a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all ~ obligations Lnder this Mortgage and the Note. ~ 1f Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. Such notice shall provide a period af not less than 30 days from the date the notice is mailed within ~ which Borrower may pay the sums declared due. If BorroKer fails to pay such sums prio~ to the expiration of such period, ~ Lender may, without further notice or demand on Borrower, invoke any remedies.permitted by paragraph 18 hereof. ~ Nor?-UrtFO~e~t CovExerrrs. Borrower and Lender further covenant and agree u follows: ~ 18. Accekratjoo; Remedks. E:cept a6 prorided !a paragrap6 17 I~ereof, upon Sormwer's breac6 of aay co~cnaet or . t a`retmeat ot Borrower fa thts Morttage, includin~ t6e coveoants to pay whea due any soms secored by thb Mort~a=e, Lender ~ ~ prior to sccekra8o~ sbaII ma~ oofke to Borrower as pmvided in para`nph l4 henof specif~ng: (1) tbe brsac6; (2) tLe actbn ~ reqoired to core socti brach; (3) a date, oot lesa tbaa 3b days fmm the daRe the noHce b ma8ed to Eorrowu, by whk6 soc6 ~ j breac6 mmt be cared; aod (4) that failore to cnre sueh breach oa or before t6e dste speci6ed is the notke msy rtsdt ia ; sccekratioe of tbe wms iecnred by t6h Mortgsge. forecbsurr by judicial proceedi~ aed sak oi tbe Property. 'lbe eotke # s6aU fnrt6er intorm Dorrower ot tbe ri66t to reir~shte ~ter sccekration ~ad t6e ri~6t to asoert ie tbe foreclosars proce~ ~ ? ~ t6e non-esisteace of a defsak or any ot6er defe~e of Borrower to accelentbn aad forecbwre. It tbe bresc6 is aot cared oo } _ . or before t6e date specified ie tbe notice, I.ender at Leoder'a optian may decW~e all of tbe ~nms aecarcd by t6b Mort~a~e to be ; ~ immedLtely dae and payabk wit6oat fnrther demand aad may forecloae this Morf;a`e 6y jndkial pr~oceedio<. Leader shall be eatltki to colkd i~ snc6 ptoceedl~ aD e:pen~cs of foreclosnre, inclndi~, bot not Hmited to, nasoaabk ~torne~'s fas, ~ aod costs of docementary evldence. abstncb aod Wk reporb. ~ 19. Dorrower's Ri~ht to Rei~atate. Notwithstanding Lender s acceleration of the sums secured by this Mortgage, ~ Borrower shall have the rig6t to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time ; Up ~ - t ~ SIlGfi ~ ~ t ~ ~ ~ ~ - - . _ , ? ~ g, ~ ~ ~ ;h ~ ~ . ,s~_.___,. _