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Home My WebLink About0814 • ~ j . I . , I.ende~'s writte~ agreement or applicabk law. Borrower shall pay the amount ~ot d) morigsge insi+rat~oe premiums in the manner provided under parag~aph 2 heroof. Any amounts disbuned by l.e~de~ pursuant to tha paragnph 7, with iatercst thereon, sha0 become add~tanal indebtedness o[ Bor~owcr secursd by this Mortgage. Unkct Borrower and 1_enJe~ agrce to othu ternu of payinent~ sucfi amounts shall be payabk upon nc~tK'e from I.ende~ ro Borrowe~ rcquesting paymcnt thercof, and shall bear interdt from the date of d'abursement at the ntc payabk from time to time on a~tstanding principa) under the Note unless pa~t ot interest at such nte would be contrary to applicable law, i~ which event such amou~ts shall bear interest at the hi=heat rate permisaibk uade~ applicabk law. Nolhing ccmtained in this paragraph 7 shall rcquire I.ender to incu~ any expet~se or talce any action hereunder. . S. lw~eetio~. i.e~de~ may make or cause to !+e made rcaconabk entries upon and inspections of the Propetty. provided that i.onder shall give BoROwer ootice prior to any such inspection specitying reasonabk cause therefor rclated to Lende~'s intercst in the Properly. 9. Co~dem~dio~. The proceeds af any award or claim fo~ damaga, dircet ar consequential, in connection with any condemnation or other taking of the Property, or part thercof, or for conveyance in lieu of condemnatioo. an henby assigned and shall be paid to I.ender. ~ in the event of a tot~l taking of the Proper~y, the proceeds chall be applied to the sums seaired by this Mo~tgage. with the excess, if any, paid ~o Bonower. In the cvent of a partial taking of the Property. unless Borrower and L.ender otherwix agroe in writing, there shall be applicd to the sums secured by this Mortgage such proportio~ of the prooeals_ as is equal to that proportion w•hich the amount of the sumc secured by this Mongage immediately prior to ihe. dste of taking bears to the fair market valuc of the Propcny immediately priar to the date of taking, with the balance of the pmcads paid'to Borrower. If the Property is abando~ed by Borrowe~, ar it. after natice by i_ender to Bomower that the condemnar oftets to maice an award o~ xttle a claim for damages. Bormwer fails to respond to t.ender within 30 days a(ter the date such notice is maila;. Lende~ ic authorized to collect and apply the proceeds. at I_ender's option, either to restoration or repair of the Propeny or Io the sums secured by this Mortgage. : iJnless 4ender and Borrower otherwicc agree in H•riting, any such application of proceeds to principal shall not extend ~ or poslpone the due date of the monthl~ . installmenls referred to in paragraphs 1 and 2 hcreof or change the amount of , such installments. 16. Eorrowtr No1 Rekased. Fxtension of the time for payment o~ modification of amortization af the sums secured by this Mortgage.granted by Lender to any cuccecu~r in interect of Borrower shall not oper,~te to rekase. in any manner. . the liability of the original Borcower and Borrawer s succesuirs in intercst. 1_ender shall not be requircd to commence proceedings against such successor or refuse to er~eed time for payment or otherwise modify amortization of the wms secured by this Mortgage by reasc~n of any demand made by the oriRinal Borrower and Borrower's succossors in interest. 11. Forbearance by i.ender Not a Waiver. Any forbearance by i-ender in exercising any right~or remedy hereunder, or othenivise afforded by applicabl~ law, shall not be a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance or ihe payment of taxes or other liens or charges by I.ender shall not be a waiver of Lender s right to accelerate the maturity of the indehtednecs cecared hy this Mo~tgage. 12. Remedks (bmulati~e. All remeciies pravided in this Mortgage are distinct and cumulative to any other right or rcmedy ~mder this Mortgage or afiorded hy law or equity. and may tx exercised concurrcndy. independently or u~ccecsively. ' 13. Soccea~ors aad Asai~~s Eound:.Janf and Several ~.iaM'lity; Captions. The covenants and agreements 1~ercin contained shall bind, and the riRhts hereunder shall inure to. the respective succes.sors and assigns of Lender at~d Borrower. : subject to the provisions of paragraph 17 hereo(. All covenants and agreementc of Borrow~er shall be joi~ and several. The captions and headings of the paragraphs ~f this Mortgage are for convenience only and are not to be uced to interpret or define the provisions herrnf. ld. NMice. Except for any ~otice rcyuired under applicable law to be given in another manner, (a) any notice to _ Borrower provided for in this Mortga¢e shall !x given by mailing such notice by certified mail addreued to Borrower at the Propeny Address or at such ahcr addres~ as Borrower mav designate by notice to i.ender as provided herein, and (b) any notice to Lender shall he given hy certified mail. return ~eceipt requested. to l.ender s address stated herein or to such other addrcss as Lender may de~ignate hy notice to Bormwer as provided herein. Any notice provided for i~ this Mo~tgage shall be deemed ro havc 1+een g~ven to Borrowcr or I.ender when given in the manner designated herein. 15. UnNona Mori~sq~e; Governiu~ iaw: Sever~bilif~. This form of mortgage combines anifortn covenants for national i~se and non-uni[orm covenamc with IimiteJ variations h~~ juriuiiction to constitute a uniform security instrument covering rcal property. This Mortgage shall be governed by the law of the jurisdiction io which the Property is located. In the event that any provision or clause of thic Mortgagc or the Note conflicts with applicabk law, such conflict shall not affect other provisions of this Mortgage or ~he ~Ne~te which can be given efiect without the conflicting provision, and to this ' end the provisions of the Mortgage and the 'Vote are declared to he severable. 16. Bomower's Copy. Borrower shall be furni~heJ a con(ormed copy of the Note and of this Mortgage at the time i of execution or atter recordation hereof. t 17. T~er of t6e Property: Assumption. 1f all ~r any part of the Pmperty or an interest therein is sold or transferred E by Borrower without Lender's prior wri~~~n conunt. excluding (al the creation of a lien or encumbrance subordinate to ~ this Mortgage. (b) the creat~on of a ~urchace mnne~• tecurily interest for houxhold appliances. (c) a trancfer hy devise, r descent or by operation of law upo~ the dcath of a joint tenant or (dl the grant of any leasehold intercst ~f threc ycars or less ~ not containing an option to purchase. ~ender may. at t_ender'~ option, declare all the sums secured by this Mortgage to be ~ immediately due and payable. Lender shall have wa~~ed such option co accelerate if, prior to the cale or transfer, i.ender ~ and the person to whom the Property ic ta be ~ol.l or transferred reach agreement in writing that the credit of ~uch person is satisfactory to Lender and that the intcrc.t payable on the sums secured by this Mortgage shalt be at siech rate aa l.ender ~ shall request. Tf Lender has waived the optio~ accelerate provided in this paragraph 17, and if Borrower's successor in interest has oaecuted a written assumption agreement accepted in writing by i.ender. Lender shall release Borrower from all ~ obligations under this Mortgage and the Note. ~ ~ if Lender exercises such option to accelera~e, l.ender chall mail Borrower notiee of acceleration in aceordancr ~•~ith ~ paragraph 14 hereof_ Such no~ice shall provide a period of not less than 30 days from the date the notice is mailed within which Borrower may pay the sums declared dae. If Borrovver fails to pay such sums prior to the eapiration of cuch peri~d. ~ Lender may, without further notire or demand on Borrower, invoke any remedies permitted by paragraph 1R hercof. ~ NoN-UN~FOaM CovErv~NTS. Borrower and Lender (urther covenant and agree as follows: ~ ~ 18. Accelerstiua; Remedks. Excep ~s providcd in paraRnph 17 hereof. upoo Eorrower's breacb of auy co~~aant - s;reemmt of Eorrower ia th~s Morigage. includin~ Ihe co~enanfs to pay r~hta doe any soms stcered by th~s Mo~a~e. i.e~ - prior lo secekratloo shaN mail aotke to Eorrower as prorided in pan~rapb 14 henoi specifyfoa: (1) t6e brssch: (2wh 6 wcb - rcquired to c~rce socb ~reaeh; (3) s date, not le~ than 30 days trom thc date tbe aotice is mailed to Eorro~+er. by ~m ~sc` ma~t ~e c~red; aod (1) that fa[Inre fo c~re svch brescb oa or befw~e tbe d~e specWed iu ~he wo~iK m~1 ~s~ ~p ' ~ sccekrstios of t6e soms secured by t~is Mort6s~c. /orccbsure by jndicial proceedfu~ and sde of tbe Properh. 'll~e notice ' sha~ furtber faform Sorro~+a ot t6e re~bl to reinstate after sccckration and tbe ri6ht lo as~ert is the foreclosnre procee~ei p: tbe ~wn-e:istence d s debnk or aay other defense of BorroMer to accekntion snd toreclosure. If tbe breach is aot cared oe or before the dsts s~ecified is tbe notice. I.ender ~t t.rnder's optbn mar declue all of tbe snms secored by this Mo~a~e to be { immediatdy due snd psysbk without further dem~nd and may foreclose this Mo~a~t by jadkW praeeed~uR• I.ender chall ~ be entitled to cdleet ia s~ P~~i~ ~ expenses of foreclosure. includiuf, brt eot limited to. reasonsbk a~t.,roey's iea. ~ aod costs of docaweolary eridence. abstrscts and ~itk reporis. ~ 19. Eon~oaer's Ri6bt to Reiostate. Notv?~ithc~anding I.ender's acceleration of the sums securcd by th~s Mortgage, 8orrower shall have the right to have any Proceedmgs he~un hy Lender to enforct this Mortgage discontinued at any time BcoK 301 PaCE $14 ~ ~ ~ ~ ~ ~ ~3;~ ~ _ _ - - - s - . F G` 4_ f l-~ . s _ . _ ~:9__ ~ _ _ _ _