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Home My WebLink About0337 l.endc~'s w~i~teo agrrrmem or applicabk I~w. Borrowe~ shall pay the am~wnt ot all mortg:~e incurance pcemiums in the man~er pmvideJ under parag~aph 2 heroot. Any amaunls dichursed by 1_enJc~ pursuan! to Ihis paragraph 7, whh interesl ihereon, shal) become additional i~dehiedness of Bo~~owe~ secured by Ihis Mungage. Unlecs Borrower anJ LenJer agrec ta other t~rms of paymeot. such amcuints shal) be payat?k upc?n notKe from I.ender Ia Borrowcr rcquesting paymenl thcreof, and shatl txar inlercst from ihe date af disbu~sement at Ihe ratc payahk fmm lime to time an outstandin~ principa) under the Note unless payment oI interest at such rate would be contrarv ta applicable law, in which ev~nt such amounts shall bea~ interest at the hiahest rate pern?iuibk u~der applicabk Iaw. Nothing conlainai in this paragraph 7 shall rcquire I.ender to incur any eapeme or tate aoy actio~ hercunder. a. laiptetio~. I.enckr may make or cause to be madr rcasonabk enlriec upon and incpections of the Property. provided that l.ender shall give Borrowe~ natK-e prior ta any si~ch inspection speci(ying reasanable cause thercfor rclated to I.a~dar's interest in the Prc~perty. 9• Ca~demuatba. The prc~ceeds of any award ar claim fo~ damages. dirccl or rnnsequential, in connectio~ with any condemnation or other taking of the Property. or pan therrnf, or for conveyance in lieu of condemnation, are hereby assianed and shall be paid to l_cnder. - in the event of a total taking of Ihe Property. the proceods chall be applieJ to Ihe cums secured by this Monaage. with the excess, it a~y, paid to Borrower. ln the event of a partial taking ot the Property, unkss Bomower and Lender athenvix agrce in writinR. therc shall be applied to the sumx securecf by thic Martgage such proportion of the proooedt as is equal to that praportion v?•hich the amix~nt of the sumc ~ecured by this Mortgage immediately prior to the date of hking bears to the fair market value of the Propeny immediately prior to ihe date of taking, with the balance of the proceeds paid to Borrowe~. . If the Property is aMandoned by Bor:ower, or if. after notice by i_ender to Bormwer that the condemnor oRe~s to mate an award or settle a claim for d~mages. B~rrower tail~ ta respond to l.ender within 30 days after the date such notice is mailed. Lender ic authorized to collect and ~pply the procecds. at 1_ender's option, either to restoration or repsir at tbe Properly or to the sums secured hy this MortRage. Unless lender and Borrowe~ aherwice agrce in writ~nF. any such application of proceeds to principa) shal) not exta~d or postpone the due date of the monthly installments rc(erred to in poragraphs 1 and 2 hercof or change the amount of such installments. i6. Sorrower Nof Rekased. Extension of the time for payment or modification of amonization of the,sums secursd by this Mortgage granted by i_ender to any cuccecsor in interest of Bortower ~hall not operate to release, in any manner, the liability of the original Borrowe~ and Borrower'c succ~ssc~rs in interest. i.ender shall not be requircd to commence proceedings against sueh suceessor or refuse to e+ctend time for payment or othenvise modify amortizahon of the sums secured by this Mortgage by reuon of any demand made by the oriqinal Borrower and Borrower's wccessors in intercst. 11. Forbean~ce 6y I.ender Not a Wsiver. Any forhearance by l.ender in exercising any right or remedy here~mder, or othervvise aBorded by applicable law. shall not be a waiver of or preclude the exercix of any such right or remedy. The procurement of insurance or the paymcnt of taxes or other liens or charga by Lender shall not be a waiver of Lender"s ~ right to accelerate the maturity of the indehtedness securcd hy thic Mortgage_ 12. Rra~ Camuhti~?t. All rcmedies pmvided in this Mortgage arc distinct and cumulative to any other right or ~ rcmedy under this Mongage or afforded by law or equity, and may be exercised concurrenUy, independently or successivety. ' 13. S~ece~as a~d Assi~~s Eound; Joint aed Seved I.iab~ify; Captb~s The covenants and agreemrnts herein contained shall bind, and the rights hereunder shall inur~ to. the~respective successoa and assigns of Lender at~d Borrower. subject ta the provisions of paragraph 17 hereof. All covenants and agrcements of Bonower shall be jary and uveral. The captions~ a~d headings of the paragraphc of this Mortgage arc for convenience only and are not to Ke used to interprct or define the provisions herrnf. 14. Notkr. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower piovided for in this Mortga¢e s6all be given by mailing such notice by certifled mail addrcssed to Borrower at ~he PropeAy Address or at such other address as Borrower may designate by notice to T.ender as provided hercin, and (b) any notice to Lender shail t+e given hy certified mail. retum rcceipt rcquested. to l.ender's address stated hercin or to such other addrcss as Lender may decienate by notice to Bormwer as providcd herein. Any notice Provided for in this Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. 1S. Uaitorm MoN~a~e; Co~erninR I.sw; Sevcrsbility.. This form of mortgage combines uniform covenants for national i use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument coverina ~ real property. This Mortgage shall be governed by the law of the jurisdiction in which the Propeny is located. In the ; event that any provision or clause of thic Mortgage or the Note conflicts with applicabk law, such conflict shall not affect i other provisions of this Mortgage or the Note which can be given eBect without the conAicting provision. and to this E end the provisions of the Mortgage and the Note are Jeclared to be sevenble_ ; 16. Sorrower's CoPy. Borrower shall be furniched a conformed cop~• of the Nott and of this Mortgage at the time ' of execution or after rccordation hereof. l7. .Tra~sfer of tbe PropeAy: As~umption. if all or any part of the Property or an intercst thercin is sold or transferred ~ by Borrower without Lender s prior wrinrn ronxn~. excluding (al the crcation of a lien or encumbrance subordinate to i this Mortgage. (b) the creatux~ of a purchace money cecuriry interest for household applianees, (e) a tnnsfer hy devise. ~ descent or by opention of law upon the death of a jaint tenant or (d) the grant of any leasehold intcrcst of three yean or kss not containing an option to purchase, Lender may, at Lender's option, declare all the sums socured by this Mortgagt to br ~ immediately due and payable. Lender shall have w~a~ved such option to accderate if, prior to the wle or transfer. Lender ~ and the person to whom the Properry ic ta bc co1J or transferrcd reach agreement in writing that the crcdit of such pe~an a is satisfactory to Lende~ and tha~ the interr~t payable on the sums securcd by this Mortgage shall be at such rate ac Lend"er = shall request. if Lender hu waivod the option to accderate provided in this paragraph 17, and if Borrower's successor in ~ interest hu executed a written assump~ion agreement accepted in writing by Lender. Lcnder shall release Borrower frc+m all ~ oblj~ations under this Mortgage and the Nou. - if Lender exercixs such option to accNerate. Lender shall mail Borrower notice of accdention in accordancc a•ith ~ paajnph 14 heroof. Such notice shall provide a period of no~ las than 30 days from the date the notice is mailed within ~ which Borrower may pay the sums declared due. It Borrower fails to pay such sums prior to the expintion of cuch perind, ~ Lender may, without fuRher notice or demand on Sorrower, invoke any remedia permitted by paragraph 18 hercc+f. - _ Nav-UNtFO~nt CovErr~rrrs. Borrower and [.ender further covenant and asra u follo~rs: ~ ls. Aecderatbr, Rewedks. Bxcept a~ provfded h~r~rapb 17 Uereot. ~ Sotrowee's Meae~ d wy co~e+w~t or ~ a~rec~eit ot Eorrower i~ d~4 Mortia6e. ~r~ ~o~~ ~o P.y ..u~. a.~ ..y ~uis secm~ by tY~ Mort~a~e. i.e~de~ - ~ prior b ~ccdersNo~ ~iall w~aN ~oNce to Sorrower as ~ov{ded iw psn~rapl~ 11 Ue~ s'ecN~: (1) tre b~eaeh:121 tAe seliow reqah+ea b a~re wcti Meack: (3) a d~te, wot le~ traw 36 dsys irou~ the aste tbe eotke r waflcd to io~rower. 07' whlci s~i . bKSCa ad be e~re~ asd (4) tbM h~~re to crre wcb breacb ow or beto~e trc date 4eeliea b the ~otke sar r~s~lt i~ ~ accdent{o~ u~ tie war secrred by !bk Mo~a~e. toreciosorr y jodkW ~roeeediw~ a~i s~le ot tbe hopcrry. 71~e notlee shaR t~rtber istor~ Sonower ot tre riRM to rsiastste afler iccekratio~ aaA ti~e n~t b tiscrt i~ tl~e toreelos~re Noe~eil~ 1~e Ml~txWt~Ct O/ ~+tl~ Of ~11j?~Ot~tf dt/tltse O/ EOROwK f0 ~tttk~atbw fwd ~OfltlOaR. N tl~e betiac~ b~ot nrea ow ~ or betore the ~e qecKed ~ tl~e ~Wiee. Lender at I.ende~•s optbw mar decl~re aN d tbe a~ws seerred by tMk Mort~aRe ts be Y i~~tely dne a~i pysblt witho~t trrtl~n dern~nd and msy lo~eciott tAb Maiia~e jodkW P~oteedi~R. I.enAtr ~hdl be eMWed lo eolket f~ a~cr'e~oceedf~ sM e:peases of foreclostire. Iwclydi~. bN Mt IWlcd t0. rta~o~tbk sttnrnev's fees. ~ a~d cosls ot doe~!~e~tarr eride~ce. abatrscls awa ~itk erprb. . 19. /o~rowa's Rlpt to Reirtate. Nc~twithstanding Lender s accekntion of the sums sccurM by ~h~~ M~h~aae. ~ Borrower shall have the right to have any proceedings he~un hv Lender to enforce this Mongage discontinued at any time ~ x ~ Gp ~ ~ 8~~~301 r:~~~ 337 ~ ~ ~ - : : f:y . ; ; ~ ~ : _ ~ ~ . , ~ ~~r , _ u_ _ _ , e _