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Home My WebLink About0643 • Lender's wntten agreement or apph~ablc law. liarruwcr shall pay +he amount u'f~ `t~ii~;~g+f'~iivr~~~p~miams in the ~ manner provided under paragraph 2 hereof. Any amounts dishursed by l ender pursuant to this paragraph 7. with intcrcct thereon, ch:dl become additional ind+:htedne<. of Borrower created h}• Chic Martg:+ge. l'nlccc Burrower and I ender agree to other terms of payment, wch anunmh shall he payable upon notice from I ender to Burrower rcyuecting payment Ihereuf. and shall hear intcrect from the date of dichurcement at the talc payable from time to time on outstanding principal under the Note unlecc payment of ...e.Y• ...6 r..,~ •~•n~l<t is ~nn1_rarv 4A~+tir~t~tP t-+W ;n Wh;ch even s++Ch amounts shall hear interest at the highest rate permissihle ,imder applicable law. Nothing cantaiped in this paragraph 7 shall require Lender to incur any expense or take any action hereunder. 8. Inspection. I_en.ter may make ar cause to be made reasanahle cntriec upon and inspectianc of the Property. provided that Lender shall give Borrower otice prior to any such inspection specifying reasonable cause therefor related to [.tnder's interest in the Property. N orF anyt award or claim iur +iarYia cs• direct or concc ~+~t'a!, in connection with any 0. Condemnatbn. The proceeds' ~ ~ ; t= q"" condemnation or other taking of the Property, or part thereof, ar for conveyance in lieu of condemnation, arc hcrehy assigned and shall be paid to Lender. In the event of a total taking of the Property. the pro+:ecds shall be applied to the sums secured by this Mortgage. y with the excess, if any, paid to Barrowrr. In the event of a partial taking of the Property. unlecc Borrower and Lender {i otherwise agree in writing. there shall he 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 immcdiatch• prior to the date of taking bears to the fair market value of the Property immediately prior to the date of taking. with the halancc of the proceeds paid to Borrower. if the Property is abandoned by Borrower. ar if. after notice by I.endcr to Barr~w•er that the condemnor afters to make an award ar settle a claim for damages. Borrower fails to respond Io Lender within 30 days after the daft ct+ch native is mailed. Lender is authorized to rnllect and apply the pmceedc, at Lender's option. either to restoration or repair of the I Property ar to the sums secured by this Mortgage. ` Unless lender and Borrower othen+•ise agree in scriting. any such application of prc?cceds to principal shall real extend or lx~stpone the due date of the monthlc• installments referred to in p:+ragraphs 1 and 3 hereof or change the amount of such installments. lo. `~13orrow•er Not Released. Extension of the time for payment ar modification of amartization of the cams secured by this Marteage granted by lender to am successor in interest of Burrower shall real aperate to release. in any manner. the liability of the original Harrower and Borrower's succescorc in interest. Lender shall real he required to cammence i proceedings against such successor or refuse to extend time for payment ar otherwise modify amartization of the sums - ~ secured M• this )~arigagc _hy reason of any demand made by the angina) Borrower and Borrower s successorc in interest. I 11. Forbearance by-i.ender Not a Wah•er. Any forhearance h}• lender in exercising am• right or remedy hereunder. ar otherwise afforded by applicable law. sh:Jl not he a waiver of or preclude the exercise of any such right or remedy. The pracurement of inatrance or the payment of taxes ar other liens or charges by lender shall not tx: a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this ?Mortgage. 12. Remedies Cumulative. All remedies provided in this Mortgage arc distinct and cumulative to any other right or remedy under this Mortgage or afforded by law ur equity. and mar be e~erciccd concurrently, iridepcndenth• ar successively. 13. Successors and Assigns Bound: Joint and Seseral i.iabilih•; Captions. The rnvenants and agreements herein - contained shall hind, and the rights hereunder shall inure to. the respective succcssars and assigns of Lender and Harrower. subject to the pruvicians of paragraph 17 hercaf. All covenants and agreements of Borrower shall be joint and several~ The captions and headings of the paragraphs of this Mortgage arc for convenience only and an: real to [x. used to interpret or define the provisians hereaf. 14. Notice. Except far any notice reyoired imder applicable law• to be given ;n another manner. (al am• native to Burrower provided far in this tifartgage shall be evenn by mailing such Halite by certified mail addressed to Harrower at the Propcm• Address ar at such other address as Borrower mar designate by notice tc. Lender as pnn•ided herein. and ~ Ihl am notice to 1_endcr shall he given by certified mail. reu~m receipt requested. to 1 enders address stated herein or to such other addresc as I_cnder may desi¢nate hs• notice to Borrower as provided herein. Am• notice provided far in this ~tonga¢e shall tx: deemed to have been ¢ivcn t+. Harrower or Lender snc~n given in the manner designated herein. ' 15. iTniform MortRa(;e; Governine [.aw: Severabilit}. This (orm of marteagc cambincs uniform rnvenants far national use and nun-uniform covenants with limited variations he jurisdiction to cunstinite a uniform xcurih• instrument cavering real property. This I?tartgage shall he governed by the law of the juris~lictiun in which the Property' is Icx:ated. [n the event that am provision or clause of this 4lortgaee or the \ute rnn(licts ++Hh applicable law. such conflict shall Hat affect t other prosicions of Chic Mortgage ar the Note which can he gn•en etTect withaut the canflicting provision, and to this end the provisions of the Morlgaee and the ~otc are .lectured to he ceverahlc. 16. Borrowers Copy. Harrower shall he furnished a conformed copy of the Vote and of this Mortgage at the time j ++f execution ar after recordation herrnf. 17. Transfer of the Propert}: Assumption. If ul! ..r am part of the Pr+•perty or an interest therein is sold or transferred by Harrower withaut Lender's prior written consent. excluding tat the creatian of a lien ar encumbrance subordinate to this Mortgage. Ih1 the creation of purchase money securits interest far hausehoW appliances. (c) a transfer M• devise, dcu:ent or by operation of law upan the death of a.joint tenant or fd? the scant of am• leasehold interest of three years or less not captaining an aption m purchase. Lender ma+•. at Lender's option. declare all the sums secured by this Mortgage to be immediately doe and payable. Lender shall hate w:+ived such option to accelerate if, pricer to the sale or transfer. Lender and the person to wham the Property is to he'sul.l or transferred reach agreement in writing that the credit of such person is satisfacton to Lender and that the interea payable on the sums secured by this Mortgage shall be at such rate as Lender shall request- if lender has waived the apti+~n to accelerate provided in this paragraph 17, and if Borrower's successor in mterest hoc executed a written ascumptian agreement accepted in writing by [-ender. Lender shall release Harrower from all obligations under this Mortgage and the Nate. If Lender exercises such option to accelerate. I.ende.r shall mail Harrower n_ afire of acceleration in accordance with paragraph 14 hereof. Such notice shall provide u period of Hat less than 30 days from the date the notice is mailed within which Harrower may pay the sums declared due. I! Barro++cr toile to pay such sums pricer to the expiration of such. period. Lender mad. withaut further notice or demand on Borrower, im•al:e an}• remedies permitted by paragraph 18 hereof. Nox-UxIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 18. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or agreement of Borrower in this Mortgage, including the co.enants to pay when due any sums secreted by this Mortgage, Lender prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the action required to cure such breach; (3) a date. not less than 30 days from the date the notice is mailed to Borrower, by which such breach must be cured; and.(4) that failure to cure such breach on or before the date specified in fhe notke may result in acceleration of the sums secured by this Mortgage. foreclosure by judicial proceeding and sale of the Property. 'llte aotict shall further inform Borrower of the right to reinstate after acceleration and the right to assert .in the fotroclosnrc proceedit~ the non-existence of a defank or any other defense of Borrower to acctltration and forccbsurc. If the breach is not cnrcd on or before the date specified in the notice. Lender at Lender's option may declare aB of the sums secured by this Mortgage to bt immediately due and payable without further demand and may foreclose this Mortgage by judicial proceeding. Lender shall be entitled to collect in such proceeding all expenses of foreclosure, including. but not United to, reasonable attorney's fees, and costs of documentary evidence, abstracts and title reports. 19. Borrower's Ri`ht to Reinstate. Notwithstanding [-enders acceleration of the sums secured by this Mortgage. Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time a°o~r PAS x=~-_- - - - _r ~