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Home My WebLink About0350 l.enck~'s written agreement or applicabk taw. Borrower shall pay the smount ot al) mottgage insuranoe premiunu i~ the maa~er provided under pa~ag~sph 2 heroof. Aoy amounts disburscd by l.enck~ pursuant to thia paragraph 7, with interest thercon, shsll become additional inJeb~edncss of Borrowcr securcd by Ihis Mongage. Unless Borrower and l.e~Jer agroc to other temu of paymeo~ such amouots shall be payable upon nc~tice ftom I.cnder to Borrower requesting payment thereof, aod shall bear interest from the date of Jisbursement at tfie rate payabk from time to time o~ outatanding principal under the Note ueless paycnent of interest at such rate would be contnry to applicabk law, in which event such amounts shall t~ear interest at the hiahest nte . permissibk under applicable law. Nc~thing contained in this paragraph 7 shall require i.ender to incur any expecne or take any action hercunder. S. lsspectio~. l.endcr may makc or causc ta be made rcasonabk entries upon and inspections of the Property, provided thal 1_ender shall give Bonower nolice prio~ to any such inspection specifying rcasa~abk cause thercfor related to Ltnder's intcrest in the Properly. 9.. Coade~uastbn. The pr~~ceeds af any award M claim for damages, dircet or consequential, in con~ectan with any condemnation or other taking af the P~operty, or pa~t thcrcof, or for conveyance in lieu of condemnation, arc hereby assigned and shall bc paid to I.ender. ~ in ~he event of a total taking of the Property. the proceeds chall be applied to the ai~ms securcd br this Mortgage. with the excess, if any, paid to Borrowe~. in ~hc event af a parlia) Iaking of the Propeny, unkss Bomower and Ltnder o~herwise agrce in writing. there shall be applied ta the sums securcd by this Mortgage such proportion of the proceeds as is equal to that propo~tion vrhich the amount ot the sumc secured by Ihis Mo~tgage immediately priar 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 pmceeds paid to Borrower. • if th~ Froperty is al~andonec! by Borrower, or if. after notice by i_ender to Bormwer that the condemnor otiers to make ~n a~~a~d or settle a claim for damages, Borrower fails to respond ta i_endcr within 30 days after the date such notice is mailed. Lender is autharized to collect and apply the praceeds. at l~nder s option, either to rcstontion or npair of the Propeny or to thc sums secured hy this Mortgage. Unless I_ender and Borrower otherwise agree in writing. any such application of prc~ceeds to principal shal) rtot extend or postpone thc due da~e of the monthly ins~allments rcfcrred to in paragraphs 1 and 2 hereof or change the amount of ~ suck installments. 19. eorrow~er Not Relcased. Extension of ~he time for payment or moditication of amortization of the sums secured by this Mortgage granted by I_ender to any cuccecu~r in interect of Borrower ~hall not operate to rclease, in any manner. the liability af the originat Borrower and Bc?rrower'c successors in interest. Lender shall not be required to commence proceedings ~gainst such successor or refuse to e~tenJ time !ar payment or otherwise mc~dify amortization of thr ~~~ms secured by this Mortgage by reason ot ~n~ demand made by the oriqinal Borrower and Borrower s successors in inlercct. : ll. Forbeuance by i.ender Not a Wsiver. Any forhearance by 1_ender in exercising any right or remedy herounder, or othenvise afforded by applicabk law. shall not be a waiver of or preclude the exercise of any such right or remedy. The proeurement of insurance or the payment af taxes or other liens or charges by Lender shall not be a waiver of Lender's right ta accelerate the maturity of the indehtednes.c secured hy this Mortgage. 12. Remedies Camulati~e. All rcmedia provided in this Mortgage arc distinct and cumulative to any other right or remedy under this Mortgage or afforded by law• or equity, and may be exercised concurrently, independently or successively. ~ 13. 3uccessors aad Assi~as Bound: Joiaf and Sered i.iaM'Hfy; Captions. The covepants and agreements herein contained shall bind, and the riRhts hereunder shall inure to. the respective successors aod assigns of Lende~ aod Borrower. subject to the provisions of paragraph 17 hcreot. All covcnants and agrcements of Borrower shall be j~ira and s~veral. The captions and headings of the paragraphc of this Mortgage are for convenience only and are not to be used to interpret or define the. provisions hereof. - 14. Notice. Except for any notice reyoired under applicable law to be given in another manner, (a) any notice to Borrower provided for in this Mortgaee shall be given by mailing such notice by certifled mail addressed to Borrow•er at the Property Address or at such other addresc as Borroveer may designate by notice to i.ender as provided herein, and ib1 any notice to Lender shall he given by certificd mail, ret~~m receipt rcquested. to I.ender s address stated herein or to such other address as Lender may de~ignate by r?~tice to Borrower as provided herein. Any notice provided for in this Mortgage shall be deemed to have t+een g~vcn to Borrower or l.ender whe~ given in the manner designated herein. 1S. Uniform MortRa~e; Gorernin~ Iaw; Severabilily. This form of mortgage combines uniform.covenants for national use and non-uniform covenantt with IimiteJ variations by jurisdiction to constiti~te a uniform security instrument covering real property. This Mortgage sfiall be governed hy the law of ihe jurisdiction io which the Property is located. In ihe event that any provision or clau~e of thi~ Mortgage or the Note conflicts with applicable law, such conflict shal) not affect other provisions of this Mortgage or the Notc which can be given efiect wi~hout the conflicting provision, and to ihis ~ end the provisions of ~he Mortgage and the Note arc declared to be severable. 16. Borrower's Copy. Borrower shaH be furni~heJ a conformed copy of the Note and of this Mortgage at the time of execution or a(ter recordation hereof_ ~ 17. Tramfer of the Properly: Assumption. if all or any part of the Property or an interest therein is s~ld or transferred ; by Borrower without Lender s prior wrinrn conuni. excluding (al tht creation of a lien or encumbrance subordinate to ~ this Mortgage. (b) the creat~on of a purchace monev ~ecurity interest for househ~ld appliances, (c) a transfer hy devise. , descent or by operation of law upon the death of a jnm~ tenant or (d) the grant of any leasehold interest of thrce years or less not containing an option to purchase, i.ender may. at l.ender'S option, declare all the sums secured by this Mortgage to t~e j immediately due and payable. Lcnder shall havc waived such option to accelerate if, prior to the cale or transfer. I_encler F an~ the person to whom the Properry ic tu be ;ol.l or transferrcd reach agreement in writing that the creJi~ of cuch percon ~ is satisfacrory to LenJer and that the interr.~ pa~~able on the sums secured by this Mortgage shall be at such rate ae i_ender shall rcquest. if Lender has waived the oPtion to accelerate provided in this paragraph 17, and if Borrower's successor in s interest has executed a written assumption agreement accepted in writing by I.ender, Lender shall release Borrower from all ~ obligations under this Mortgage and the Note. ~ If Le~der exercises such option to ac~elerate. 1_enJer shall mail Borrower notice of acceleration in accordancr ith = paragraph 14 hereof. Such notice shall provide a pericxi of not less than 30 days from the date the notice is mailed vvithin ~ which Borrower may pay ihe sums declared due. If Borrower fails to pay such sums prior to the expiration of ~uch periud. ~ Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 1 R hercof. NoN-Uw~FOR?K CovErr~NTS. Borrower and Lender further covenant and agrce u follows: ; 18. Aceeleratao; Remtdks. E:ceq as pm~~ided in para~rapb 1'f bereof. upoa Eorrower's bresch of sny corenant or ~ agreea~eot of Borrower in t6is Morigsge. includi~ !he coveasnts to pay whew dne aay snms secured by this Mort~~e. Lender prior to accekratioo shdl mafl ootice to Eorro~+er as providtd ia psn~raph 1~ 6ereot specH~: (1) the brsach: 121 the action - required to cnre secb breacb; (3) a date, not kss tban 30 days from tbe date tbe notke Ls aaikd to dorrower. by .rhic6 sucb - breach must be carcd; aad (1) t6at faflure to cure such breach oa or before tl~e date spec~ed in the natke may result in accekratioa of tbe sae~ secared by tWs MortgsRc. to?ecfosure by judkial proceed~ and sale of tbe Pmperty. The notice shall further inform Borrower ot the r~ht to reinstpte after sccckration and tbe ri(~ht to as~ert i~ the foreclosurt proceed~ tbe non-existence of a defanM or auy other defense of Borrower to accekrstion and forecbsure. If the breach is not cured on # or before the dstt speci6ed ia the notice. Lender a1 [.ender's option may declare ifl ot the snms secored by this MortRa~e to be s im~ediatdy due aod paysbk withonf furthe~ demand n~d may fotcclose tAts Mort~aEt by jodkW proceediu~. I.ender chal! ~ be eotided to collect in sac6 proceediu~ aN e:peoses of foreclosure. includio=. but ¦ot limited to, rtasonabk atturney's fses, ~ and costs of documeatary erideace, sbstrscts snd titk reports. ; 19. Borro~+e~'s Ri~bt to Reiost~te. NMwithstand~ng Lender s accderation of the sums securcd by this Mortgage, ~ Borrower shall have the right to have any proceedings hegun hy l.ender to enforce this Mortgage discontinued at any time ~ , LR ~ SQ.'_7K 3U1 f ~r,E ~VO t x F; ! . . _ :x ; . . p ~r= - ~ ~ ~ , i _ • r . s - ..t~~ ~ . _ ~ ~;r _