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Home My WebLink About0981 LenJcr's w~itten agrcement o~ applicable law. Borrower shall pay the amaunt o[ all mortgagc insurance premiums in the manoer providcd under parag~aph 2 hereof. - Any amounts disbursed by I.endcr pursuant ta this paragraph 7, with interest thcreon, shall become additional ~ indeb~edness of Borrower securcd by this Mortgage. U~lecs Borrowe~ and I.e~Jer agree to other terms nf payment, such = amounts shall be payable upon notice from [.ender to Borrower requesting payment thereof, and shall bear interest fmm thc date of disbursement at the rate payable trom time to time on out:tandi~g principal unde~ the Note unless payment of " interost at such rate wautd be contrary to appficable law, in which event such amounts shall bexr interest at the highest rate ~ permiuibk unde~ applicable law. Nothing contained i~ this paragraph 7 shall rcquirc I.ende~ to incur any expense or take ~ any action hereunder. ~ S. iaspecNon. Lender may make or cause to be made reawnable entries upon and inspections of the Prapehy, provided ~ that Lender shap give Borrower notice prior to any such inspection specifying reasonable cause therefor related to I.ender's ~ in~erest in the Property. ~ 9. Condemaafba. The proceeds of any award or claim for damages, direcl or conuquential, in connection with any ; condemnation or other taking of the Property, or part the~eof, or for conveyance in lieu of condemnation, are heroby assigned ' and shall be paid to Lender. ~ in Ihe event of a total taking of the Propeny, the proceeds shall Ix applied to ~ht sums secured by this Mortgage. ~ with the excess, if any, paid to Borrower. 1n the event of a partia) taking of the Properly, imless Borrower and I.ender = othenvise agree in writing. therc shall be applied to the sums secured by this Mortgage 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 market value of the Property immediately priar to the date of taking, with the balance of the proceeds ~ paid to Borrower. If tht Property is abandoned by Borrower, 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 l.ender within 30 days af~er the date such notice is ~ mailed, L~nder is authorized to collect and apply the proceeds, at T_ender's optian, either ta restoration or t+epair of the ~ Property or to the sums securcd by this Mangage. < Unless Lender and Borrower olherwix agree in writing, anp such application of proceeds to principal shall not extend ~ or postpone the due date o( the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such instaliments. 10. Borrower Not Rekased. Extension of the time for payment or moditication of amortization of the sums secured by this Mortgage granted hy Lender to any successor in interest of Borrower shall not operate to releau, in any manner, thc liabiliry of the origina) Borrower and Borrowcr s sucressors in interest. i.ender shall not be required to commence ~ proceedings against such successor or refuse to extend time for payment or othenvise modify amortization of the sums ~ secured by this Mortgage by reason of any demand made by the original Borrower and Borrowers successors in interest. ~ l l. Forbearance by I,ender Nof a Waiver. Any f~rbearance by I.ender in exercising any right or remedy hereunder, or othenvise aftorded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. ~ 77~e procurement of insurance or the payment of taxes c~r other liens or charges by l.ender shat) not be a w~aiver of Lender's right to accelerate the maturity of the indebtedneu securcd hy this Mortgage. 12. Remedies Cumulatire. All remedies pravided in this Mortgage arc distinct and cumulative to any other right or ~ remedy under this Mortgage or af[orded by law or equity, and may he exercised concurrcntly, independently or successively. 13. Successors and Assi~us Bound: ]oint and Se.~eral i.iabillty; C.aptbns.. The c~venants and agrecments herein } contained shall bind, and the rights hereunder shall im~re to, the respective successors and assigns of I_ender and Borrower, ~ subject to the provisions of paragraph 17 hercof. All covenants and agrcements of Borrower shall be jaint and several. "Ibe captions and headings of the paragraph~ of this Mortgage are for convenience only and are not to be uted to interprct or define the provisions hereof. 14. Notiee. Except for any notice rcquired under applicable law• to be given in another manner, (a) any notice to ~ Borrower provided for in Ihis Mortgage shall he givcn by mailing wch notice by certified mail addressed to Borrower at ~ thc Property Address or at such other addrecs as Bormwer ma}~ designate by notice to i.ender as provided herein, and ~ (b) any notice to Lender shall be given by certified mail. retum receipt reyuested. to l.ender s address stated herein or to such other address as [xnder may designa~e by notice to Borrower as provided herein. Any notice pmvided for in this Mortgage shall be deemed to have been given to Borrower ar I.ender when given in ihe manner designated herein. IS. Unjtorm Mortga~e; Governin~; Law: Severability. This form of mortgage combines uniform covenants for national ~ use and non-uniform covenants with limited variations by jurixliction to constitute a uniform security instrument covering real propeny_ This Mortgage shall be governed hy the law of the juritdiction in which the Property is located. In the ~ event that any provision or claux of this Mortgage or the Note conflictc with applicable law, such-conflict shall not affect other provisions of this Mortgage or the Note which can be given effec~ without the conflicting provision, and to this ~ i end [he provisions of the Mortgage and the Note are declared to be severable. ~ ~ 16. Eorrower's Copy. Borrower shall be furnished a conformed copy of the Note and of thia Mortgage at the time ~ , of execution or after recordation hereof. ~ i 19. Traasfer of tbe Properfy; Assumption. If all or anp part of the Propeny or an interest therein is sold or transferrcd ~ by Borrower without L,ender's prior written consent, excluding (al the creation of a lien or encumbrance subordinate to ~ E this Mortgage, (b) the creation of a purchase money security interest for household appliances, (e) a transfer by devise, ~ ~ dcscent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehoid interest of three years or less ~ not containing an option to purchase. Lender may, at (.ender's :~ption, declare all the sums secured by this Mortgage to_be ~ immediately duc and Rayable. Lcnder shall have waived such option to accelerate if, prior to the sale or transfer, I.ender and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person ic satisfactory to I.ender and that the interest payable on the siims secured by this Mortgage shall be at such rate as Lender ~ ~ 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, I_ender shall release Borrower from all abligations under this Mortgage and the Note. ~ If Lender exercises such option t~ accelerate. [.ender shall mail Borrow~er notice of acceleration in accordance with j paragraph 14 hereof. Such notice shall provide a peric~ of not less than 30 days from the date the notice is mailed within ! which Borrov~•er may pay the sums declared diic. If BorroKCr failc to pay such sumx prior to the expiration of tuch period, { F Lender may, without further notice or dcmand on Borrowcr, invoke any rcmedies permitted by paragraph 18 hereof. ~ ~ i ~ Nox-UN~FOSnt CoveN~NTS. Borrower and I.ender (urther covenant and agree as follows: i 18. AccefeMbn; Remedks. Excep/ as provided in pa~rapb 17 hereof, upoa Borrower's breach of any coreoant or ' agreemeat of Borrower in tbb Mortgags, indudiu` t6e corenaats to pay when dne any snms ~ecnred by t6b Mort=age. Lender E prior lo accderatbn shall mail ootice b Borrower ~ provided in para~raph 14 hereof speci[yiu~: (1) tbe brescb; (2) tbe adion required to cure suc6 breacb; (3) a date. uot less Ibsn 30 daya irom tbe date t6e notice M mailed to Borrower, by w6kh wch bresch wmR be cored; aod (4) t6N fsiiure to cnre sach bresch on or before the date speci6ed io tl~ notke msy radf in , accderatbo ot t6e snn~t ftcured by t6is Mort~e, toreclosnre by judicial proceedlo~ and sale of the Property. 1be notke shaU furlher inform Borrower of tbe ri~ht to rclr~state after acceleratba and tbe r~ht to ~sett io tbe foreclowre proceedla~ . ' tbe noo-e:Weace ot s detaek or sny Mher detense of Borrower to accekntbn and foreclosure. if tbe brescb is not cmed ou ~ ~ or beton the date speci8ed in t6e notice. Lender at Leader's optbn may declare afl oE tbe snms secared by thb Mort=a~e to be ' immedhtdy due and payabie wk6oot fnrtber demand and mar foreclose th[s Mo~a~e by judkial proceedin~. Leader slWl ~ be entitled to edlect to soc6 proceediua all expemes of foreclosure, includina~ but aot limited to,,reawnsbk ~ttorney's tea, r aod coUs ot docnmeohry evideace, sbstrscts aod tltle rrpor4. ~ ~ 19. Borrower's Rl`bt to Reio~t~e. Notwithstanding Lender's acceleration of the sums xcurcd by this Mortgage. f Borrower shal) have the right to have any proceedings txgun by i.ender to enforce this Mortgage discontinued at any time ~ ~ 6~`K~98 ~~6E v~81 ~ ; E ~ ~ - _ . _ . : _ : ~ _ ~