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Home My WebLink About0801 l.ender'a written agrce?aent or appiicabk law. Borrowe~ shall pay the u~?iwnl a[ all moKgage insura~xx premiums in the manne~ provided u~de~ paragraph 2 hereoi. Any amounts disbursed by I.e~Je~ pursuant to this paragraph 7. with iatcrost thereon, shall become acWitional indebtedness o[ Borrowcr securcd by ~his Mor~gagc. Unlecss Bo~rower and l.cnJe~ agroc to other terms ot paytaen~ such amounts shall be payabk upcx~ nolicc f~om I.cnder to Borrower roques~ing payment thtreof, and shall bea~ inte~est ft~om the date ot d'nbursement at Ihe rate payahk from time to _time ot~ out:tanding principal under the Note ~mkss pay~ment o[ i~tercst at :uch rate wauld be co~t.ary ~o applicabk law, in which event such amounts shall bear interest at the hlahest rate permissibk under applicabk law. Nothing conlainat in this pangraph 7 shall require I.ender to incur any expeme or take any action hereunder. S. 1~}ectia~. ~ende~ may make or causc to bc madc reaso~abk cntriet opon and inspections of the Property. provided that I.onder shall give Borrawer natKe prio~ ~a any s~~ch inspectioo spocifying reua~abk cause theretor related to La~der's intertsl in the Property. 9. Cowdew~atb~. The proceedc of any award or claim for damagcs. direet ar consequential, in connection with any condemnation or other taking o( the Property, or pa~t thereaf, ar for ccx~veyance in lieu of coodemnation, are hereby ~~ed and shall be paid to i.ender. I~ ~he event of a total taki~g of the Pmpcrty, the proceeds chall be applied to Ihe sums secured by this Mort6ase, with the excess, if any, paid to Borrower. In Ihe c~ent o( a partial taking ot thc Property. unless Bomower and I.eoder othenvise agrct io wriling, therc shall be applied to the sums securcd hy this Mortgaae such proportion oi the pmoeeds as is equal to that proportion w~hich ~he amount of ihe sumc secured by this Mortgage immediately prior to the data of taking bears to the fair markN valuc of the Propcrty immediately prior to the clate of taking, with the bala~ce_ of the proceods paid to Borrower. , If the Property is abandoned by Borrower, or if, after natice by 1_ende~ to Bomow~r that the condemnor of[ers to make an award or settk a cl3im for damages, Bc~rrowe~ fails to respond to l.ender ~within 30 days after the date such notice is maikd. Lende~ ic authorized to collect and apply the procceds. at l.ender's option, either to restoration or repair of the Property or to the sums secured by this Mortgatte. Unku Le~der and Borrower olhervvi~e agree in w•ritinR, any such application of praceeds to .principal shall not exttnd or postpone the due date of the monthly installments referred ~o in paragraphs 1 and 2 hereof or change the amount of • sucfi installments. 10. EoROwer Not Relessed. Eztension of thc ~ime fo~ payment or modiflcation of amortization of the sums securcd by this Mortgage granted by [.enckr to any cuccecsor in interest of Borrower ~fiall not operate to rtlease, in any manner. the liability ot the origioal Borrower and Ac~rrower'c succesu~rc in interest. I_ender shall not be requircd to commence p~oceedings against such succes.sc~r or refuce to e<tend time for paymeat or otherwice modify amortizat~on of the wms securcd by thix Mortgage by rcason of an~ demand made b~ the oriqinal Borrower and Borrower's succescors in interest. 11. Forbesrance by Leade~ Not a Waivcr. Any forhearancc by I.ender in exercising any right or remedy hercunder, or otherwise afforded by applicable law. shall not t~e a waiver af or preclude ~he exercise of any such right or remedy. The procurement of insurance or the payment of tares or other liens or charges by I_ender shall not be a waiver of I.enckr's right to accelerate the maturity of the indehtednecs cecored h} thi~ Mortgage. 12. Remedies Cumulsthe. All remedies provided in this Mortgage are distinct and cumulative to a~y other right or rcmedy under this Mortgage or afforded hy law or equity, and may be exercised co~currently, independently or successively. ' 13. Socceswrs aad Assigas Bound; .Joint And Several i.iabilily: Captbns. The covenants and agreements hercin contained shall bind, and the rights hercunder shall inure to. the rcspective successors and assigns of Lender ae~d Bomower. subject to the provisioos of paragraph 17 hereof. All covenants and agreements of Borrov?er shall be jairo and several. The captions and headings of the paragraphs of Ihic Mortgage are for convenience only and are not to be used to interpret~ir define the provisions hereof. 14. 1Vo~iee. Except for any notice reyuired unckr applicable law to be given in another manner. (a) any notice to Borrower provided for in thic Mortga¢e shall he given by mailing such notice by certified mail addressed to Borrower at the Property Address or at such ~~thcr address as Bormwer ma~ designate by notice ro i.ender as provided herein, and (b) any notice to i_ender shall Ix givrn by certified mail, return rcceipt rcquested. to [.ender s address stated herein or to such other addrcss as Lender may deciqnate by n~tice to Borrower as provided herein. Any notice provided for in this Mortgage shall be deemed to havc becn gi~•en to Borrower or 1_ender when given in the manner designated hercin. 1S. Uniform Mort~a~e: Gorernin~ Iaw; Severobility. This form of mortgage comhines uniform covenants for national ox and non-uniform covenantc with limited variatie~ns by jurisdiction to constitute a uniform security instrument rnvtring real propeny. 'I1~is Mortgage shall be governed hy the law of the jurisdiction in which the Property is located. In the ' event Ihat any provision or clauce of thic Mortgage or the Note conflicts wi~h applicable law, such conflict shall not affect other provisions of this- Mortgage or the Note Nhich can be given efiect without the conflicting provision, and ta ihis ; end the provisions of the Mortgage and the Note arc decl~red to !x severable_ 16. Bormwer's Copy. Borrower ~hall be furnicheJ a conformed copy of the Note and of this Mortgage at the time ' of execution or a(te~ recordation hereof. ' - € 17. Trsnsfer of tl~e Properir; Assumption. It all or an}• part of the Propeny or an interest therein is sold or transferred ~ ~ by Borruwer without Lender s prior W rit~cn consen~. exctuding (al the crcation of a lien or encumbrance subordinate to ~ this Mortgage. (bY the creation of a purch~cc m~•ne~~ tiecurity interest for household appliances, (c) a transier hy devise. ~ descent or by operation of law upon the dcath o( a_ j~•~nt tenant or (d1 the grant of any leasehold interest of threc ycars or less ~ not containing an option to purchase, I_ender may. at t.ender'~ option, declare all the sums secured by this Mortgage to be ~ immediately due and payable. l.ender chall have w;uved such option to accelerate if, prior to the sale or transfer. I.ender ~ and the person to whom the Property i~ ta t~e ~oIJ or transferrcd reach agrcement in writing that the credit of such percon ~ is satisfactory to I_ender and that the inlerc.t payable on the sums secured by this Mortgage shall be at such rate a~ Lender ~ shall request. If l_ender has waived the op~ion to accelerate provided in this paragraph 17, and if Bortower's successor in ~ interest has executed a written assump~ion agreement accepted in writing by I.ender. Lender shall release Borrower from al! ' obligations under this Mortgage and the Note. ~ if Lender exercises such option ta acce{erate. I.encier ~hall mail Borrower notice of acceleration in acrnrdanc< ith ~ paragnph 14 hercof. Such notice shall provide a pe~iod of not leis than 30 days from Ihe date the notice is mailed within - ~ which Borrower may pay the sumx declared due. If Borrower fails to pay such sums prior to the expiration of wch peric~d. - ' l.ender may, without further notice or dcmand on Borrower, invoke any remedies permitted by paragraph 18 hereof. ~ ~ Norr-UN~FOat?t CoveN~rrTS. Borrower and Lender further covenant and agree as follows: la. Accekntioe; Bemedies. ~xcepf as provided ia paraRnpb 17 ~ereof. ~on soRO..~r: ot a¦r ro.~~~ o~ a6reement of Borro~+er ia t6k Mortga~e. includi~ tl~e corensnts to pay r?hen dne any sn~ns secured by thk Mort~a~e. I.ender _ prior fo acceleratbn sha11 mail notice to Eorrower as provided ia pars6rapb 14 hereof spccffytos: (1) tAe bresch:/21 tbe actioe _ required to core socb breach; (3) s dste, oot less t6an 30 days fro~o tl~e date tbe notice is aatled to Eorror?er. b~h whicb srch breach mwt be crred; aod (4) tb~ failure to curc sncfi breach oa or before tbe date spec~ed ie ~be notkc n+~y resnlt ~e 'S secdentba oE tre sam4 secnred by t6ts Mort~a~e, to~ccbwre br judkid proceedin= aad ssle of tbe Property. 'il~e notice ~ shall fnrther inform Borwwer o[ the ~igM to reinshte afler sccckrstbn snd tbe right to ~ssert io fbe foreclosure procee~ ~ tbe noo-existence of s dcfa~k or aay other detense of Borrower to scceleration and foteclosure. it the bresc6 k not cured on • _ or before the date speci6ed ia tbe ~otke. I.ender at [.ender's optlon may declsre a~ of the wats secar~ed by tl~ Mort~a~e to be - ~ immedisttly due and payabk wiflwot fuAher demand and may forecbse th[s Mortsa`t by jodkial proceediaR• I.ender chall _ ~~q~ ~o ~d~ ~u proceediu~ all e:penses nf foreclosurc. inclndiua. bnt eM Ilmited to, reasoaabk murney's fees. and costs of docamestary eridence, abstrscts and litk nports. 19. dorrowe~'s Rl`h1 to Reisstsfe. Notw•i~hctandir.K I.ender s accelention of the sums securcd by th~s Mortgage, ~ Borrower shall have the right to have any proceeding~ he~un hy l.ender to enforce tfiis Mortgage dixontinued at any time ~ ~ ~ , . BORK 301 YA_'E ~JO~ k, ~ . - - t _ ~`G" ~ c~ j "h ~ r _ , ~ ,~~.',.m _ ~ _ « ~ - ~ . . ~ _ ~y _ ~ _ . _ a.~~ r