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Home My WebLink About0003 agreement or applicable law. Borrower shaU pay the amount ot all mortgage insurance premiums in the mannct provided undtr paragraph 2 hereof. Any aawunts d~sburxd by I.encier pursuant to this puagraph 7, with interest thereo~, shall txcomc additional in- dcbtcclness o( Bonower securccl by this \(ortgagc. Unless Borrower and l.cnde~ a~ec to other terms ot payment. such amounts shall be payable upon notice trom Lendcr to Borrorcer requesting payment thereot, a~id shall bear interat trom ~he date o[ d'ubursement at the rate payable trom time to time an outsta~~dinq prinripal under the \otc u~~less payment o[ irterest at suth rate would be contrary to applicable law, in which event such amounts st~all bear interest at the highest rate permissible under applicable laM. Nothing contained in this paragraph 7 shall require l.ender to incur any expense or take any action hereunder. ' _ 8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property. pro- ~~ideci that Lender shall givt Borrower notice prior to any such iuspection speci[ying reasonable cause therefor related to l.ender's incerest in the Property. 9. Condemnatioa. The proceecls o[ any award or claim tor damages, direct or conxquential, in connection with any condemnation or other takiog ot the Property, or patt thereof, or tor. conveyance in lieu of condemnation, a~e henby as- signed and shall be ~aid to Lender. In the event o[ a total taking o[ the Property, the proceecls shall be applied to the sums xtured by this ~fortgaqe, w~th the excess, i[ any, paid to Borrower. In the e~•ent of a partial taking of the Property, unless BorroMer and Lender otherwise aj{ree in writing, there shalt be applied to the sums secured by this ~(ortgage such proportion ot the proceeds a; is equal to that proportion which the amount ot the sums secured by this \tortqage immediately prior to the date o[ taking bears to the fair market value ot the Property immediately prior to the date of taking, with the balance o[ the pro- ctecis paid to Borrowet. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the~ condemnor offen to make an award or settle a claim tor damages, Borrower fails to respond to Lender Mithin 30 days a[ter the date such notice is mailed. Lender is authorized to collect and apply the proceeds, at Lender's option, ei[he~ to restoration or repair o[ the Property or to the sums secured by this ~(ortgage. Unless Lender and Borrower otherwise agree in writing, any such application.of proceeds to principal shall not extend or postpone the due date of the monthly installments re[etred to in paragraphs 1 and 2 hereot or chanRe the amount o[ such installments. ` 10. Borrower Not Releaxd. Extension ot the time for payTnent or modification o[ amortization ot the sums secured b~• this \tortgage granted by Lender to any successor in interest o[ Borrower shall not operate to release, in any manner, the liability of the original Borrower and Borrower's successorn in interest. I.ender shall not be ree~uired to commence ptoceedinRs against such successor or refuse to extend time for payTnent or other~+ise m«lify amortization oE the sums se- cured by this ~fortgay,e by reason of any demand made by the original Borrower and Borrower's successors in interest. 11. Forbtarance by Lender Not a Waiver. Any torbearance by Lender in exercising an}• righe or mmedy hereunder, or otherwise atforded by applicable laN, shall noc be a wai.~er o( or predude the exercise of any such right or remedy. The procurement o[ insurance or the pa~~ment of taxes or other lieus or charges b}• Lender shall iiot be a wai~•er of L.endei s riRht to acceletate the maturity oi the indebtedness secured by tlfis :~lortgaqe. - 12. Remedies GLmulative. All remeclies pm~•ided in this \tortRaqe are distinct and cumulaei~•e eo an~• other riRhc or remech• under this \iortRap,e or a(forded M law or eyuitv, and ma}• be exercised concurrrnth•. independently or successively. 13. Succeason and Aasigns Bound; Joint and Sevetal Liability; Captions. 'I'he co~•e~~ants and agreements herein contained shall bind, and the riqhts hereunder shall inure to, the respective cucceswrs and assigns of I.ender and Bonower, subject to the pro~isions of paraqraph 17 hereoL All co~•enants and agreemenu o[ Borrower shall bc joint and se~•eral. The captions and headings ot the paragraphs ot this ??tortgage are for com•enience onl}• and are not to be used to interpret or define the provisions hereof. 19. 1liotice.- Except (or any notice required under applicable law to be qi~~en in another manner, (a) any notice to Borrower pro~•ided tor in this ~(ortgage shall be gicen by mailin~ such notice b~ certitied mail addressed to Borrower at the Propert} Address or at such other address as Borrower may designate b}• notice to Lender as pro~~ided herein, and (b) any notice to Lender shall be gi~•en by certified mail, return receipt requestect. to Lender's address stated hemin or to such ; other address as Lender may designate by notice to Bormwer as pro.•ideci herein. Am• notice pro~•ided (or in this \tortgage sl~all be deemed to ha~•e been gi~•en to Borrower or Lender Hhen gi~•en in the manner desiqnaced herein. l , i5. Uni[orm Mortgage; Gorerning Law; Severability. This form of mortRaqe combines uni(orm co~•enanu for na- ~ tional use and non-uniform covenanu with limited ~~ariations by j~xisdictinn to constitute a uni(orm securit} instrument co~•erinR real propert~•. This ~tortgage shall be go~•erned by the law of the juriscliction in Hhich the Propert} is located. ~ ~ In the event that any provision or dause of this ~tortgaqe or the \ote con(licu with applicable la~.. such conflict shall not ~ affect other pro~~isions oE this ~fortgage or the ~ote Nhich can be Ri~~en e[fect without the conElictin~ pro~~ision, and to ~ this end the pro~•isions oE the ~tortgaqe and the Note are dedared to be ser•erable. 16. Borrower's Copy. Borrower shall be furnished a u,nformed copy of the \ote and ot this \TortRage at the time ~ of execution or a(tet recordation hereof. . ~ 17. Tnn~ler of the Property; Assumption. If al! or an~• part of the Property or an interest therein is sold or trans ~ ferred by Borrower Mithout Lender's prior written consent, excluding (a) the creation ot a lien or encnmbrance subordinate ~ to this \(ortqaqe. (b) the creation ot a purchase money securitc interest for household appliances. (c) a transfer b~ de~~ise, descent or by operation o( law upon the death ot a joint tenant or (d) the Rrant of an~• leaschold interest of three }ears or less not containing an option to purchase. Ixnder may, at Lender's option, declare all the sums aea~red by this \tortRage to ~ be immediatel~ due and payable. I.ender shall ha~•e waived such option to accelerate if, prior to the sale or transter. Lender and the person to whom [he Property is to be sold or transEerred reach ap,reement in writing that the credit of such person ~ is satisfactory to Lender and that the interest pa}~able on the sums secureci by this ~tortRaRe shall be at such rate as I.ender ~ shall request. If Lender has wai~•ed ehe option to accelerate pro~•ided in this paraRraph 17, and if Borrower's successor in ~ interest has executed a wricten assumption agreement accepted in writing by I.ender. Lender shall release Borrower irom ? ~ all obligations under this ~fortgage and the Note. ~ IE I.ender exercises such option to accelerate, Lender shall mait Borrotiver notice oE acceleration in accordance with ~ paraRraph- 14 hereof. Such notice shall procide a period of not less than 30 da}'s from the date the notice is mailed within ~ which Borrower may pay the sums declared due. lf Borrower fails to pa~ such sumc prior to the expiration o[ such period. Lender may. without turther notice or demand on BorroHer, im•oke an}' remedies permitteci by paraRraph 18 hereoE. ~ON-U\IFOR]i COVENAh75. BOTCOWCI and Lender further covenant and agree as (ollows: - 18. Accelention; Remedies. Faccept as provided in paragraph 17 hereof. upon Bo~rower's breach oE any co~enant or ~ agrcement o( Bomower in this Mortgage, induding the covenants to pa~ when dur an~ stims aecured by this lfortgage, ; ~ I.endv prior to acce(eration shall mail notice to Botrowet as provided in paragnph l4 hereoE specif}~ng: (1) the bteach; t y (2) the action required to cure such breach; (3) a date. not k~s than 30 days from the date the notice is mailed to Borrower, F ~ br which such breach must be ctired; and (4) that failure to cure. such breach on or before the date specified in the notice may ; rcmlt in accelention of the sums secured bJ~ t6is Mortgage, [omlosun by judicial proceeding and salt ot ~h~ Propertp. The ~ s notice s6a11 tunher in(orm Borrower oE the right to reinstate after accdention and the right to a~ert in the toreclosurc praeeding the non-erzistence of a deEault or any other de(enx of Borro~er to acceleration and foreclosure. If the breach is ~ not cured on or before tht date specified in the notice, I.ender at I.ender's option may declare all of the wms xcund br this x ~ Mottgage to be immediatdy due and payable without fwther demand and may foreclose this MortgaRe by judicial procetd- ~ ~ ing. Lender shall be entitled to collect in such proceeding aU expensea of toreclosure, includipg, but not limited to, rt~n- ~ ~ able attomty's tees, and costs of documentary evidence, absttacts and title npotts. ~ U R A ~ SCflK t7V j. PAGE Sj ~ ~ ~ : ~ z ti t :~a ~ ~ ~ _ . _ h ` - ~ ,_~.'~~61~~a~~~~ti _ ~r . . -