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Home My WebLink About0220 Leader's written agroement or applicabk law. Bo~rower shall pay thc amou~t ot all moRgage insuraaoe premiurtu in U~e ' manner provided under ptragraph 2 hereof. Any amouots disbursed by Lenck~ pursuant to tha pa~ag~aph 7, with iatee+~st thereon, shall become additional inckbtedn+ess of Borrowcr secuted by ~his Mongage. Unless BoROwer and I_e~de~ agrce to other ternu .of paymeM. such amounts shall be payabk upon notice from l.ender to Borrowe~ requeslin~ paymeot thereot, and shali bea~ inte~est from the date o[ disbursement at the ate payabk from time to time on outatar~ding principal unde~ the Note u~less psyiaa~t oi iotercst at such rate would be contrary to applicabk law, in which event such amounts shall bear ioterest :t the hiahest rate permiuibk under applicabk law. Nothing contained io this paragraph ~ shall requic~e I.ender to inco~ any espe~ae or tak~ any action hereunder. S. laspectio~. l.ender may make or cause to be made rcasonabk entries upon aod inspections of the Property. provided that I.ender shal) give Bonower natice prior ta any such inspection specifying rcasonabk cau~e therefo~ relatod to Lender's interest i~ the Property. 9. Copdenu~stbn. The proceeds of any award o~ claim tor damages, direct or co~seque~tial, in connection with any condemnation or other taking_of the Property, or part tiiereof, or for conveyance in lieu of condemnatioo. are hercby assigoed and shall be paid to Lender. In the event of a tota) taking of the Property, the pra.~eeds ohaq be applied to the sums secured by this Mortgage. with the excess, if any, paid to Bormwe~. In 1he eve~t af a partial taking of the Property. unless Borrower and Leader otherwise agnx in writing. there shall be applied to the sums secured by this Mortgage such propoNion of the prooeods as is equal to that proportion w•hich the amamt of ~he sums secured by this Mortgage immediately prior to the date of taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of tha pruceeds _ paid to Bornower. ~ if the Property is abandoned by Borrower, or if. atte~ ~otice by l.ende~ to Borrower that the condannor otiers to make an awa~d or settk a claim far dam~ges. Be~rmwer fails to respond to Lender within 30 days after the date such notice is mailed. Lende~ is authorized to collect and apply the proceeds, at i~nder s option, either to resioration or repair of the Property or to the sums secured b~• this Mortgalte. Unless l_ender and Borrower othen~rise agree in writing, any such application of proceeds to principal shall not ext~nd , or postpone the due date of Ihe monthly installments rcfencd to in paragraphs 1 and 2 hereof or change the amount of ~ such installments. 10. Eorror?er Not Rele~d. Extension of Ihe time for payment or moditication of amonization of the sums securcd by this Mortgage granted by I.ender to any cuccecsor in interest of Borrower shall not operate to release. in any ma~ner. the liability of the original Borrower and Bc?rrower ~ successors in interest. Lender shall not be required to cammence proccedings against such successor or refuse to extend time for payme~t or otherwise modify amortization of the ~ums secured by this Mortgage by reasc?n of any demand made by the origina) 8orrower and Bc~rrower s successors in interest. 11. Forbearance by Lender Not s Waiver. Any forhea~ance by l_ender in exercising any right or remedy hercunder, or otherwise afforded by applicable law. shall not be a waiver of or proclude 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 I.eoder's right to accelerate the maturity of the indehtedness cccar~ed hy this Mortgage. 12. Remedies Cumulati~e. All remedies provided in this Mortgage an distinct and cumulativr to any other right or remedy under ihis Mortgage or afiorded hy law or equity, and may be exercised concurrently, independently or successively. ' I3. Successors and Assi~~s Bound; Jant aad Sereral i.is~; Capdons. 'il~e covenants and agreements herein contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of Lender aod Bomower. subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be join) and several. The captions and headings of the paragraphc of this Mortgage arc for convenience only and are not to be, used to interpret or define the provisions hereof. 14. Notke. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in this Mortga¢e shall be given by mailing such notice by certitied mail addressed to Borrower at - the Property Address or at such othe~r address as Bor~ower may. designate by notice to 1_ender as provided herein, and (b) any notice to Lender shall he given by certified mail. retum receipt requested. to I.ender's address stated herein or to such other address as Lender may decignate by notice to Borrower as provided herein_ Any notice provided fw in this Mortgage shall be deemed to have been given to Bc+rrower ar Lender when given in the manner designated herein. 15. Uniform MortRaRe; Govemin~ taw; Se.•eraM'litv. This form of mortgage combines ~miform covenants for national use and non-uniform covenants with limited variations by jorisdiction to constitute a uniform security instrument covering ; real property. This Mortgage shall be Roverned bV the law of the jurisdiction in which the Property is located. In the ~ event that any provision or claose of thic Morlgage or the Note conflicts with applicable law, sueh conflict shall not affect ~ other provisions of this Mortgage or the Note which can be given efiect without the conflicting provision, and ta this t end the pro~~isions of the Mortgage and the Note are declared to be severable. € 16. Borrowe~'s Copy. ~$orrower shall be furniched a conformed copy of ihe Note and of this Mortgage at the time ~ of execution or after recordation hereof. ~ 1~. Traosfer of tl~e Property: Assumplion. Tf all or any part of the Property or an interest therein is"sold or transftrred ~ by Borrower without Lender's prior wrinrn consent. excluding (a) the creation of a lien or encumbrance subordinate to ~ this Mortgage. (b) the creation of a purchace mc.ne~• ~ecurity interest for household appliances, (c) a transfer hy devise, ~ descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of threc }•cars or less ~ not containing an option to purchase, Lender map, a~ l_ender's option, declare all ihe sums secured by this Mortgage to be # immediately due and Payable. Lender shall h~ve waived such option to accelerate if, prior to the cale or transfer. I.ender ~ and the person to whom the Property i~ t~~ be co1J or ~ransferred reach agrcement in writing that the credit of such person ~ is satisfactory to Lender and that the interr.t pa~•able on the sums secured by this Mortgage shall be at such rate ac I.ender ~ shall request. if Lender 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, Lender shaU releau Borrower from all ~ obligations under this Mortgage and the Note. ~ If Lender exercises such option to aecelerate, l_ender shall mail Borrower notice of acceleration in accordanc~ ~~h paragraph 14 hereof. Such notice shall provide a pericx!•of not less than 30 days from the date the notice is mailed ~vith~n ~ which Borrower may pay the sums declared due. If Borrov?er fails to pay such sums prior to the expiration of cuch penc~d, - Lender may, without further notice or demand on ~rrower. invoke any remedies permitted by paragraph 18 hereof_ ~ ~ Norr-UNtFORM CoveNetvTS. Borrower and Lender further covenant and agree as follows: ~ 18. Accelention; Remedks. Etcept as provided io pars6npb 17 hereof. apoa Sor~nwe~'s Mrac6 ot aay covenanf or ~ sgreea~eat of Borrower Iu t~~ Mortgage. including the corenaNs to pay whea dne sny sams secered by this Mort~sge. Leader prior to aecekratioo shatl maff aotlce to Eorrower ~ provided In para6~ 14 6ereot specify~: (1) the breach: (21 the actan : reqnired to cere soc6 bresc6; (3) a date, aot kss than 30 days from the date t6t notke b ma~ed to Eorrower, by which sucb bresc6 mwf be cored; ~d (4) tlwt fail~re to cure sucb breac6 on or betore tbe date specified iu ~he uutice msy result ~n accekntioo of t6e snms secared by thLs Mort~sae. toreclosu~r br jndicial proeeedi~ aed sde of tbe Pmpe~ry. 'Ibe notice I shall further ipfor~a Eorrower of the rigbt to reinstste afler accekration and tAe ri66t to usert io the foreclosure proceedia~ ~ - tbe non-exi~tence oE a defauk or any othcr defense of Borrower to sccekration aad foreclosure. if the breach Ls oot cnred oa ~ - or before the date speci6ed ie t6e nofice. Lender at I.ender's optjon may declsre a9 of the snms secrred by this Mort~aRe to be ~ ~ ima~edistcly due snd payabk withont fartber demand and may torecbse Wk MortEa6e by jndjcial proceediu~. Lender chall be entided to collett in sdcr procetd~nL sN e:P~nses nf fo~eclosure. inclndio~, bnt oot lireited to, reasonabk ata,rney's fees. aod costs of docnmeotary erideace. abstracts aad ~itk reports. 19. ~orroaer's Ri6ht to Rei~siate. Ncuwithstanding Lender s acceleration of the sums securcd by ih~s Mongage, i ~ Borrower shall havt the right to have any proccedings t~egun hy I.ender to enforce this Mortgage discontinued at any time t' 5i:'.;r v eacE ~ ~ ~ U1 ~20 ~ ~ r:? ~ _ - _ - ~ ; 5,: ' a : i ~ ~a~-„~~. ~ ~ _ . . . ~ °~~~~.~~~5a:. g'"~. . _ . ~ c ~