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Home My WebLink About0954 1 s . ~ . ~ Ltnde~'s writtea asreemeot or applicabk law. Borrowc~ ahall pay thc amaunt of all mortgage insurance prcmiums in thc # manner provided ur?der para~raph 2 heroof. ~ Any amounts disbursed by I.ender punuan~ to this paragraph 7, with interat thereon, shall bccome additional i in~kMedness of BoROwer sxurcd by this Mon~age. Unless Borrowcr and ~enJer agrce to other terms of payment, such ; amounts shall be payabk upon no~ice from I.ender to Borrowcr rcquesting payment thereol, and shall bea~ interest from the i date ot disbunement at the rate payable from time ta time on out:tandint principal under the Note unless payment of intenst st such nte would be contrAry to applicable law, in which _event such amounu shall bear inteirest at the highest rate ~ permiaibk un~kr applicabk law. Nothing cor~tainod in this paragraph 7 shall require Lender to incur any expense or talce ~ j ~ r^'~ ~.*'r"c:..-.~wl. ~ - i. i~ecdoa. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided that [.t~det shall give Borrower notice priar to any such inspection specifying rcasonabk cause theretor related to Lender': interest in the Property. Co~dew~atfos. The proceeds of any award or claim for damagos, diroct or consequential. in connection with any condemnstan or othe~ taking of the Propeny. or part thereat, or for conveyance in lieu of condemnation, are hereby assig~od # and shall be paid to I.ender. ~ ln the event ot a total taking of the Property, the proceeds shall be appli~d to ~he sums xcurcd by this Mortgage, with the excess, if any, paid to Borrower. In the aver?t of a panial taking of the Property, unless Borrower and Lender otherwise agroe in writing, there shall be applied to the sums secured by this Mortgage such proportion af the proceeds u is eqwl to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of takina bean to the [air market valu~ of the Propeny immediately prior to the date of taking, with the balance of the proceeds paid to Bormwer. If the Piroperty is abandoned by Borrower, or if, after noticc by l.ender to Borrower that the condemnor oBen to make ~ an awsnd or settle a ctaim for damages, Borrawer fails to respond to i_ender within 30 days alter the date such notice is maikd. I.ende~ is authoriud to collect and apply the proceeds, at Lender's option, either to restoration or repair ot the Propeny or to the sums securcd by this Mon~tage. Unlas Lender and Borrower othen~rise agree in writing, any such application of proceeds to principal shall not extend or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 heroof ar change the amount of such installments.. i8. ~wrrower ~vot itNeased. ~xtension of the time for payment or modihcation of amortization of ine sums socureei by this Aiortgage gnnted by Lender to any succes.sor in interest of Borrower shall not opente to nkase, in any manner, the liability of the original Borrower and Borrowe~ s successors in interest. Lende~ shall not be rcquired to commence proceedings against such successor or retuse to extend time for payment ot othervvise modify amortization of the surtu secured by this Mortgage by reason of any demand made by ~he origina) Borrower and Borrower'a successors in inttrest. ~ -tl. Rorbarsnce by Lender NM a Waiver. Any forbearance by I.ender in exercising any right or rcmedy hercunder. or . otherwix aftorded by applicable law, shall not be a waiver of or prcclude the exercise of any such right or remedy. The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's right to accderate the maturity of the indebtedness secured hy this Mortgage. 12. Rea~edics Caaul~e. All remedies provided in this Mortgage are distinct and cumulative to any other right or ~ rcmedy under this Martgage or atforded by law or equity, and may be exercised concurrently, independently or succesaively. ~ 13. Srccessors and Asei~es Bouad; Joinl aad Several i.Lbiliry; Csptbas. The covenants and. agreements herein € contained shall bind, and the rights hereunder shall inurc to. the respective successors and assigns of Lender and Borrower, 4 subjoct to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and sevenl. i The captions a~d headings of the paragraphs of Ihis Mortgage are for convenience only and are not to be used to ~ interpret or define the provisions hereof. 14. Notke. Eacept for any notice rcqoired under applicable law to be given in another manner, (a) any notice to Borrower provided tor in this Mortgage shall ix given by mailing such notice by certifkd~ mail addressed to Borrower at the Properly Addrcss or at such other address as Borrower may designate by notice to i.ender as provided herein, and (b) any notice to Lender shall tx given by certified mail, return receipt requested. to I.ender s address stated hercin or to such other addras as Lender may designate by natice to Borrower as provided herein. Any notice provided for in this Mortgage shall be deemed to have bcen given to Bormwer or I.ender w~hen give~ in the manner designated herein. 13. Usifonu Mort~ste; Go~ernin~ Law: Sevrrabillty. This form of mortgage combines uniform covenants for national ux and non-uniform covenants with limited variations hy jurisdiction to constitute a uniform security, instrument covering real property. This Mortgage shall be governed hy the law of the juriscliction in which the Property is located. In the I event Ihat any proviaion or clause of this Mortgage or the Note conflicts with applicabk Iaw, such conflict shall not af[ect ~ ~ other provisions of this MoAgage or the Note which can be given eRect without the conflicting provision, and to this ~ end the provisions of the Mortgage and the Nate arc declared ta be severable. 16. eon+owct's Copy. Borrower shall be furnished a conforrned copy of the Nott and of this Mortgage at the time ; of exaution or after recor•.lation hereof. ' 17. Traader ot tbe t:+operty; Assumptioa. if all or any part of the Property or an interest therein is sold or transferred by Borrower without I.ender's prior written consent, excluding (al the creation ot 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. ~ dexrnt or by operation of law upon the death of a joint tenant or (d1 ~he grant of any leasehold interat of three years or less ~ not containing an option to purchase, I_ender may, at Lender's option. declare all the sums secured by this Mortgage to be ~ immediately due and payabk. Lender shall have waived such option to accelerate if, prior to the sale or transfer. [.ender and the persa~ to whom the Property is to be sold or transferred reach agrcement in writing that the credit of such person is satisfutory to I~ncier and that the interest payable on the sums secured by this Martgage shall be at such rate as Lender ~ shall roquest. If Lender hu waived the option to accelerate provided in this pc~ragraph 17, and if Bortower's successor in P ~ interat bu executed a wrilten assumption agrcement accepted in writing by Lender, Lenckr shall release Borrower from all obligations under this Mortgage and the Note. ~ If Lender exercises such option to accelerate. [.encler shall mail _Borrower notice of acceleration in accordance with ~ p~ragraph 14 hereot. 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 doclared due. If Borrower fails to pay such sums prior to the expiration of such period. ~ ~ Lender may, without further nolice or demand on t3orrower, invoke any remedies permitted by paragraph 18 hereof. ~ ~ No[v-UrttFOR~t CovErv~twrs. Borrower and Lender further covenant and agrce aa follows: ~ ; l~: A~!+~s~_~s; Res~~ Ezrsg! ts pssrrsg~ lsrs~. ~s l4ssror_rs'a lss~~ls ~ a~~ s~~~! sa ~ ; a~rce~ewt ot Eon~uwer h t~k Ma1~a~e~ i~cludi~ the coreaants to pay whee due sy sums ~ecored by thb MortLKe. Leade* 3 ~ prior to accelerstfoe s6aY edl aolice to Eormwer as provWcd ia pan~npb 14 hereot specif~: (1) tbe breac~: (2) tLe setios ~ rqdre~ b a~e ~c~ beeac~: (3) s dNe, aot tas t6an 30 days [rom tbe date t6e sotke is adled t~ Eorr~ower. by wtilcti a~c6 brescl~ ~Nt 6e csrcd; aod (4) thst faftore to cure socb breach a~ or before tbc dste specl6ed i~ the .:Mice atay ris~it ie ' secderatio~ ot 1re we~ iecored by thi~ Mo~a~e, torecbsorc by jadkW proceedio~ aod ale of U~e Proptrt~. 'Itie aotke ~ s6ar t~rfYer t~tors dorrower d t6e ri~ht to ref~shte after accelerat(oa and t6e riabt b arert h t~e foreclosa~e p~oce~ ~ : ttie ~e~ee d s det~rlt or sdy otber deteuu ot Borror?er to accckn~tba sud foreclosara. tt tbe brescl~ i~ sot c~ned oe ~ ~ or 6dore tie ds~e speci~ed ia tbe notke. Lewder at I.eodcr's optbn may declars a0 ef tbe soms secorei by t6M Mort~a~e to be . ~ i~a~ dre ud pyabk wkbo0t [arther deaaed and aap toreclwe thi~ Mortta~e b~' jedkial proceed~. I.eoder s~afl ~ be eatWe~ to co0ect i~ nci rr~oc~edie~ d es~e~ta ot foreclowre, facladin`, bot aot U~site~ to, naro~abk atto~e~~ tea, ~ aid eab of docsoenary erideaoe, a6Ar~cb aed ud~e reporb. ~ 1!. ~rower's RI~Yt to Reidfate. Notwithstanding Lender s acceleration of the sums securcd by this Mortgage. € Bonoaer shall have the right to have any proccedings begun by Lender to enforce this Mongage discantinued at any time ft p ~ ' . Bc;~K~~ Par,~ ~ R ~ - - ~ - ~ F ~ rt~ _~....4 w - . ~ ~ _