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Home My WebLink About0031 • 11 ~ ~1 v~~• agreement or applicablo ls~r. Borrower shaU pay the amount oi all nar[aags inwrance pre~aium~ in tbe manner pcovided under Raragraph.Y hercoE. Any amouats disbursed by Lender punuaot to thL paagnPh 7. with interat thereon. shaQ become sdditionsl ia~ debtedness "o~ Bortorrer securcd br chis Atortgage. Unlea Borror+er and I.ender a6rce to ocher cerms o~ payment, aufi amounts shall be payable upo~ notice trom Lendcr to Borrowtr rtquatina payaaeot thereot, and shaU bear inte~at from chc date of disbursement at the rate parable trom time to time on outuaadiag principal under the Note u~less parmeat o[ incerest at suth rate rrould be rnntrary to applicable law. in which cvent sucA amounts shaU btu interest ac the highat ratc permis~ible undet appliubte law. Nothing m~tained in this p~ragraph 7 shall require Lender to incut any acpense or take a~y action hereunder. 8. lnrpettioa. Lender may make or ause to be made reasonabk entria upon and i~?spections o( the Propat~, pro- viaea ~c LeQaer ~aU gi~e sorm.?er ~~oe prior ~o anr w~n irapectio~ speti[ying reasonable puse there(or related to ~ Leadet': interest in the Propmy. y. Condemoation. 1'ht procecds o[ aaJr arvard or clalaa for damagea. direct or consequential. in conncction ~?ith aa~ condemnacion or other uking ot the Propercy. or part thereot. or ior conveyanae in lieu o[ condemnaiio~. are hereb~ a? signed and shall be paid to Lender. In the event oE a total taking ot the Proputy, the procetds shall be applied to the sums secuscd br thu 1?~ort~age. with the acceas. it any. paid to Borrower. In the event oE : partial uking of the Propetty. u~las Borro~rer aud Lender otherwise agrce in r?ritiag, there ~ull be applied to the sums secvred bJr this Mon6age wth proporcioo of the prooeeds a3 is equal to that pmportion which the amount of the wms secured by this Mortgage immediatel~r prior to the date oE ~ taking bears ~co tl~c [air market value of che Property immediacely prior co che dace oi uki~g. .rict~ the balance of che pro- cecds paid to Bozm~ra. ' lf the Pmperqr i~ abandoned by Borrower. or if, after notia bt I.endrr to Borro~er that the oondemnor o[ters to make an awxrd or settle a claim for dunaga. Borrower faib to rapoad to Le~der within 30 da~rs aEter che dace wch aotioe is mailed. I.ender ia authoriud to collect and apply the proceeda. at Lendtr's option, tithet w tatoration or repair oE the Property or to the sums secvred by tbu Mongaae. Unlas Lender and Borro~rer othenvise agree in writi~g. any such appliution oE procetds w principal shall not exttnd or postpone the due date of the montlily installmenu reEerred to in paragraphs 1 and Y hereof or change che amount oE such~ install~deata. 10. Borrower Not Reksu~l. Extension of the time for paqment or modiEiation of amortizacion of tbe sums securtd b} this Mortgage gnntcd by Lender to any suaessor. in int~rest of Borrower shall noc opente to releas~. in mr mu~nner. the liability of the original Boiro~rer and Borrower's succason in interes~ Lendtr shall not be required to mmmcnce ~ proceedings against wch wccessor or refuse to extend time for papment or otherwisf modify amorciacion oE the sums sc~ ~ cured by this Mortgage by reason of any demand made by the original Borrower and Borro~vet's succason in intem~ ~ 11. Forbeat~noe bY i.ender Na a Wairer. Any forbnnnce bJr Lender in exercising any right or remedr hereunder, ~ or otherwise a(totded by appliable law+, shall not be a w+aiver o( or preclude tbe exercise ot any such right or remMy. The procurement oE insunnce or the payme~t o[ taxes or other liens or charges by Lender shall noc be a wai~•er of Lender's right to aaeleratt the macurity of the indebcedness secured bp this Mongaga 12. Remedies (~imulatire. All remedia provided in this ~tortgage ue. diuinct and cumulative to any other right or rcmedy under thu biortgage or a[forded by law or equity, and may be cxercised aoncurrently, independently or succasivdy. 13, Succa~ots and Aaigw Bound; Joint and Se~eral Liability; Captiow. The co~enanu and agreements herein rnntained shall bind, and the rights hereunder shail inure to, the respective wccessors and assigns of Lender and Borrower. subject to che pmvisions o[ pangnph 17 hereof. AU m~enants and agreemena of Borrower shall be joint and several. The captions and headings oE the paragraphs of this 1?iortgage are (or con~enience onlp and arc not to be used to interpret or dcfine the provisions hercof. _ - 14. Notioe. F~ccept [or anp notice required under applicable law to be given in another manner, (a) any notite to Borrower pro~~ided for in this Mongage shall be given by mailing such notice by certified mail addressed to Botrower at che Propercy Addras or at such other address u Borrovrer may designate by nocice co Lender as pro~•ided herein, and (b) anr notice'to'Lendv shall be given by cer[ified mail, raurn reteipc requeued; to Lender's address su[ed herein or to such ~ other address u Lender may designate by notice to Bortorrer as provided herein. Any notice pro~ided (or in ehis ~fortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. 15. Unifam Mortgage; Go~erning Iaw: Severabiliq. This [orm of mortgage cembt~es uniform co~enants for na- tional use and non-uniform coeenants with limited variations br jurisdiction to cons[itute a uniform security instrument f co~•ering real property. This Mongage shall be gorerned by the law of the jurisdiction in which the Propertv is located. ~ In the event that any provision or dause of this ~tortgage or the Note conflicu with appliable law, such conilict shall not ~ af[ect other provisions of this Mortgage or the 1\ote which can be given e[Etct Kithout the conElictinq provision, and to ~ this end the pmvisions of che ~iortgage and thr Note are declared to be stvenble. ~ 16. Borrowet's Cop~. Borrower shali be furnished a conformed copy of the I~ote and of this ~ioregage at the time ~ of e~cecution or after recordation hereof. . 1'!. Trander of ehe Properq; Aawmption. If all or any pan of the Proper[y or an intrrrst eherein is sold or crins s ferred b) Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate ~ to thix Mortgage, (b) the creation oE a purchase money security interest for household appliances. (c) a transfer by de~•ise, descent or by opention oE law upon the death ot a joint tenant or (d) the Rrant of any leasehold interest of three years or less not containing an option to purchase, Lender may. at Lender"s option, declue all the sums secured by this ~iongage to be immediately due and payable. L.ender stull h~ve waived such opcion co accelerate if, prior to the sale or transier. Lenda and the person to whom the Propetty is to be sold ot tnns[erred reach agreament in writing that the cTedit of such penon ; is satisiactory to I.ender and that the interest pa~rable on the sums secured by this ~iortgap,e shall be at such rate u Lender shall.teques~ If Lender hu waived the option to accelerate provided in this paragnph 17, and if Borrower's suaessor in ~ intarst has executed a written assumption aqreement aoapted in virriting by Lender. Lender shall release Bor~ower from ~ all obligations under this Mortgagt and the Note. If Lender exercises such option to actdente. Lender shall mail Botrower notice of aadention in accotdance with ~ paragnph 14 hereof. Such notice shall pmvide a period oE not less ehan 30 days from the date the notice is mailed within : ~ which Borrower may pay the wms dedared dua If Borrower fails to pay such wms prior to the expiration o[ such period. = ~ Lender may, without turthet notite or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof. { NOtQ-UNIFORM CovExwHTS. Borrower and Lender funher mvenant and agree as tollows: a 18. Aooeleration: Remedies. Pacaept as provided in paragnph 17 hereof, npon BormNds brarch of an~ coTenaat ar ~ agrre~nenc oE Borm~?er in this Mortgage. induding tLe rnvenanu w p~~ ~vhen due any ww secured b~ this Mortgage. ~ I.ender prior to aoce4ntion aLall mail notioe to Borrmoer as pmvided in paragraph 1~ heneoi speci[ring: (1) tbe bnxL; ~ tbe act~n required a wn axh breach: (3) a date. na le~ ihw 30 dap Erom the daee the notia n mailcd eo Borrowtr. ~ b~ ~rhich wch breach ~nwt be clued; uid (4) that [ailnre to cure wch br+ex6 on ot be[oce the date specified in the notioe ma~ rcwlt in aooelrntion d tbe aims ucwed b~ ~hu Mongage, foreclown b~ jndicial proceeding and aak d tbe Propa~q. T'he ~ notioe tball further inform Borrower of the ti~Lt to reinstate after acoekratioo and the sisht to a~a~t in the. [onedoaire ~ procecding the non~ezistence of a deEaule or anT other defense of BorraMrer a aooelention and foreclowine. IE tLe brrac6 is not curcd on or before the date specitied in the notioe. I.eader at I.endar's op[ion ma~ dedu+e aq oE the a~ms secured b~ th~ ~ Mortgage eo be immediatd~ due and payabk ~rithoat funLer demand and ma~ foreclo~e this lllortgage b~ judicial proceed- ~ ing. I.ender ahall be rntitkd to colkn in wch procealing aU ezpeara d torecbwre, includiag, but not limited w, rt:ton- ~ abk ~tcorneYs fees. and costs of docvmen[arr evidence._ab~tracu and tiele teporta . ~ - : g~~.3t12 ~ ~ - ; ~ . ~ ~ ~ . - ~ y T~ ~ - . ~ ~ . LLL~ b~~ _ _ . "