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Home My WebLink About0878 l.ender i written agrcement or applicable law. Borrower shall pay the amoun~ ot all mortjage ipsurance prcmium: in the manner provided unde~ paragraph 2 hereof. Any amaunts disburxd by l.ender pursuant to this pa~agraph 7, with interest thereon, shall become additional inJebtedness of Borrow~cr securcd ~+y this Mongage. Unless Borrower a~d t_enJer agree to other terms of payment, such amaunts shall bc paysble upc~~ notice from l.ender to Borrowe~ requesting paymcnt thereof, and shall bea~ intercst from the date of disbursement a1 the rate payable f~om time to time on outstanding principal unde~ the Note unless psyment of interest at such rate wauld be coRtrary to applicable law, in which event such amounts shall btar intertst at the highest rate permissible under applicable law. Nathing contained in this paragraph 7 shall nquire i_ender to i~eur any exper~se or take any action htreunder. 8. Iaspectioa. Lende~ may make or cause to be madc reasot?able entries upon and inspections of the Property, provided that l.ender shap give Borrower notice prior to a~y stich inspectio4 specifying reasonable cause therefor related to Lender's interest in the Property. 9. Coademnatbn. The proceeds of any award or claim fo~ damages, direct or canuquential, in connection with any ; condemnation or other taking af the Property, or pan thercof, or tor conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. . f in the event of a total taking of the Propeny. the proceeds shall be applied to the sums secured by this Mongage. ~ with the excess, if any, paid to Borrower. in the event of a partial taking of the Property, unless Borrower and L.e~der _ otherwise agrce in writing. therc shall be applied to the sums stcured by this Mortgage such ptoportion of the proceeds as is equal to that propottion which the amount of the sums secured by this Mortgage imfiedistety prior to the date of taking bears to the fair market value of the Prope~ty immediately prior to the date of taking, with the balance of the proceeds ~ paid to Borrower. : If the Property is abandoned by Borrow~er, or if, after notice by Lender to Borrower that the condemnor of~en to make r an award or xttle a claim for damaga, Borrower fails to respond to 1_ender within 30 days after the date such notice is ; mailed. Leader is authorized to collect and appiy the proceeds, at Lender's oplion, either to ratoration or repair .of the ; Property or to the sums secured by this Mortgage. Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principa) shall not extend or postpone the due date of the monthly installments referrcd to in paragraphs 1 and 2 hereof or change the amount of such installments. 10. Bormwcr Not Reka~ed. Extension of the time for payment or modification of amortization of the sums secured by this l~iortgage granted by Lender to any successor in interest of Borrower shalf not operate to release. in any manner, the liability of the original Borrower and Barrower's successors in intercst. Lender shall not be required to commence proceedings against such suvicessor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Mortgage by reason of any demand~made by the oriqinal Borrower and Borrower's successors in interest. 11. Forbearance Dy Lender Not a Wai~er. Any forhearance by Le~der in exercising any right or remedy hereunder, or othenvise afforded by appFicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance or the payment of taxa or other lieas or charges by Lender shall not be a waiver of Lender's right tu acceterate the maturity of the indebtedness securcd hy this Mortgage. 12. Remedia Comuhti~e. All remedies provided in this Mortgage are distinct and cumulative to' any other right or remedy u~der this Mortgage or afiorded by law or equity, and may be exercised concurrently, independently or successively_ 13. Soccessors and A~sigm Bound; Joint aad Sereral I.~abilify; Captbos. The covenants and agreements herein contained shall bind, and the rights hereunder shall inurc to, the respective successorx and assigns of Lender and Borrower, subject to the provisions of paragraph !7 hereof. All covenants and agreements of Borrower shall be joint and several. ~ The captions and headings of the paragraphs 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 required_ under applicable law to be given in another manner, (a) any notice to Borrower providtd for in this Mortgage shall be given by mailing such notice by certified mail addressed to Bonower at the Property Address or at such other address as Borrower may designate by notice to T_ender as provided herein, and (b) any notice to Lender shall be given by certified mail, return receipt requested. to I.ender s address stated herein or to such other address as Lender may designate by notice Io Borrower as provided herein. Any notice provided for in this vfortgage shall be deemed to have been given to Borrowrr or Lender when gi~en in the manner designated herein. ~ IS. Uniform Mortg~e; GoreminR I.aw: Seve~bitity. This form of martgage combines uniform covenants for national use and nomuniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering i real propeny. "Il~is Mortgage shall be governed hy the law of the jurisdiction in which the Property is located. In the ~ event that any provision or clause of this Mongage or the Note conflicts K~ith applicable law, such conflict shall not affect j other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this s end the provisions of the Mortgage and the Note are declarEd to be severable. - ~ 16. Eorrower's Copy. Borrower shall be furnished a conformed copy o[ the Note and of this Mortgage at the time s of ezecution or after recordation hereof. r 17. Transfer of the Property: Assumption. If all or any part of the Property or an interest therein is sold or transferred ~ by Borrower without Lender's prior written consent. excluding (a) the creation of a lien or encumbrance subordinate to this Mortgag~. (b) the creation of a purchase money security interat for household appliances, (c) a transfer by devise. ~ descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of thrce years or less ~ not containing an option to purchase, Lender may, at Lender c option, declare all the sums secured by this Mortgage to be ~ immediately due and payable. I.ender shall have waived such option to accelerate if, prior to the sale or transfer, Lender , and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person ~ is satisfactory to Lender-and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender ~ shall request. If Lender has waived the option to accelerate provided in this paragraph 1'l, and if Borrower's succasor in ~ interest has executed a written assumption agreement accepted in writing by I.ender. Lender shall rclease Borrower from all obligations under this Mortgage and the Note. ~ If i.ender exercises such option to accelerate, I_ender shall mail Borrower notice of acceleration in accordance with ~ paragraph 14 hercof. Such notice 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 due. If Borrow~r fails to pay such sums prior to the expiration of such period. s Lender may, without further notice or demand on 8orrower, invoke any remedies permitteci by paragraph 18 hereof. ~ No:v-UrvrFOSn[ Cove:v~xTS. Borrower and Lender further covenant and agree as follows: ~ 18. Acceleratioo; Remedks. E:cept as provfded in Paragraph 17 hereof, upoa Bormwers breac6 of aay coveoant or ~ agreemeat oi Borrower ie t6ts Mort~s=e, inclodin~ tbe covensnts to pay whcn due any suu~ secured bY thb MortZs`e, I.eader - prior to accderatioa sba0 mail notke to Eorrower as provided in paragrap6 l4 hercof specif~: (1) tbe brcacb; (2) t6e actioa Y reqotred to care asch bieac6; (3) a date, not les4 t6an 30 days fwm the dste the notice M o~aikd to Borrower, by whic6 snc6 breach mn~t be cund; sod (4) tbst failnre to cure such breach on or beforc t6e date speci8ed ia the ootke rosy raait io s accekr~tba ot t~e suma secnnd by t6is Mortgage, forecbsurc by jndkial proceedfu~ and sale oE the Propertr. 1be ootice ~ sbsll furtber intorat Borrower of t6e ri~bt to reinat~te sfter accekntba and the rig6t to aeserf ia t~e foteclasure proc~ the aoQ-ezi~tence of a defank or aoy otber defense of Botrower to accekntion aml foreclowre. If We bnseb is not ~aed o0 r or beEore tbe date specified ia t6e notice, Leader d Leader's optbn may decla~+e a0 of tbe sams secared by t6i~ Mort~a`e b be ~ [mmedhtely dae and paya6k ~rit6ont furt6er demaad snd msy foreclose this Mo~a~s 61 ~udk~d ~oc~. Lender sba~ b.= 4ri be entitkd to coqect iw soc6 proceedi~ a8 ezpeosa ot Eorecloanre, includiag. but r+ot Uieited to. reawesble attorse~s fees. ~ and cods of docaiaentary e~ideuce, abstricb sod tide reporls. ~ 19. Borrower's ~bt to Reiodate. Notwithstanding Lender s acceleration of the sums xcurcd by this Mortgage, ~ Borrowet shall have the right to have any proceedings txgun by Lender to enforce this Mortgage discontinued at aoy time ~ . ~ BCkKJIJ~ F~Cf ~~v ~ ~ r{=' S,'s.' ~ ~ --.~f.,~~~~`~X~ = : . ~ ~ ~ ~ :`4~~^-'~';~"~'~; ~ ~ . . r_ m _:.,.g~..4~~ . _ _.a