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Home My WebLink About0132 ~ ~ . . ' ` ' . ~.ender's writtcn a~retme~t or Applicable law. Borrower shall pay the amount of all mo~tgage insu~ance premiums in Ihe maatier provided under paragraph 2 heroof. Any amounts disbursed hy Lender pursuant ~to this parag~aph 7; with intcrest thercon, shall become additional imiebtedness of Borrower securcd by ihis Mon~aga. Unless Borrow~er and Lender agree to other. terms of payment, such amounts shal) be psyabk upon notice from I.e~der to Borrower requesling payment thcreot, and shall bear interest tram the date of disbursement at the nte payabk f~am time to time on a~tstanding principal uoder the Note unless payment ot interest at such rate woold be contrary to applicable law, in which event such amounls shall bear interest at the highest rate permissibk unde~ applicabk law. Nothing contained in this paragraph 7 shall requirc Lender to incur any eapense or take any action herounder. 8. iuspecdos. Lender may make or cause to be made reasonable entries upon and inspections of the Property. provided that Lende~ shall give Borcower notice prior to any such inspection specifying reaso~able cause therefor related to Lender's interest in the Property. 9. Condemwstba. The proceeds of any award or claim for damages, direct or conxquential, in connection with any - condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnatio~, are hereby assigned and shall be paid to Lender. In the event of a total taking of the Propeny, the proceeds shall be applieci to ~he sums secured by this MoMgagc. with the excess, if any, paid to $orrower. in the event of a partial taking of the Property, u~less Borrower and Lender othenvise agrce in writing, therc shall be applied to the sums secured by this Mo~tgage such proportion of the proceeds as is equal to that proportion which the amount of the sums secared by this Mortgage immediately prior to the date of ' taking bears to-the fair market value of the Propehy immediately priar to the date of taking, wi!h the balance of the proceeds paid to Borrower. tf the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offen to make a~ award or settle a claim for damages, Barrower fails to respond to l.ender within 30 days after the date such notice is ' mailed, I.e~der is authorized to collect and apply the proceeds, at I.ender s option, either to restoration or repair of the Property or to the sums securcd by this Mon~tage. Unless I.e~der and Borrower otherwise agree in writing, any such application of proceeds to principal 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. . !0. Eorrower Not Rekased. Extension of the time for payment or moditication of amortization of tht sums secured by this Mottgage granted by Lender to any successor in interest of Borrower shall not operate to release. ~n any manner, the liability of the original Borrower and Bc~rrower'~ successars in interest. Le~der shall not bz ~quired to commence proceedings against such successor or refuse to e~tend time for payment or otherwise modify amartization of the sums secured by this Mortgage by reason of any demand made by~ the original Borrower and Borrower's succeasors in i~terest. 11. Forbearanee by Lender Not a Waiver. An}• forbearance by I_ende~ in exercising any right o* remedy hereunder, or otherwise afforded by applicable law, shall not t~e a~vaiver af or preclude the exer~ise of any such right or remedq. The procurement of insurance or the payment of ta~ces or other liens or charges by Lender shall not be a w•aiver of Le~der's right to accelerate the maturity of the indebtedness securcd hy this Mortgage. ~ l2. Remedies Cumolati~e. All remedies provided in this Mortgage are distinct and cumulative to any other right or remedy under this Mongage or aftorded by law or equity, and may be ezercised concurrently, independently or successively. 13. Snccessors and A~igus Bound; Joiat and &~~cral i.iability;, Captbns. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to. the recpective successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17 hereof. -All covenants and agreements of Borrower shall be joint and seyeral. The captians and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to interpret or define ihe provisions hereof. 14. Notke. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower pmvided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at the Property Addres§ or at such other address as Bormwer may designate by notice to i.ender as provided herein, and (b) any notice to Lender shall be given by certified mail, return -receipf requested. to l.ender s address stated herein or to such other address as.I.ender may designate by notice to Borrower as provided herein. Any notice pmvided for in this Mortgage shall be deemed to have been given to Borrow~er or 1_ender when given in the manner designated herein. ~ 1S. Uniform Mortgage; Gorerniug Iaw; Sererability. This form of mortgage combines uniform covenants for national use and non-uniform covenants with limited variations hy jurisciiction to constitute a uniform security instrument covering _ r+eal property. This Mortgage shall be governed by the law• of the jurisJiction in which the Property is located. In the . event ~hat any provision or clause of this Mortgage or the Note conflicts w•ilh applicable law, such conflict shall not affect other provisions of this Mortgage or the Note which can be given efiect without the conflicting provision, a~1d to this end the provisions of the Mortgage and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time j of ezecution or after recordation fiereof. ; 17. TranSfer of t6e Properh: Assumption. If all or any part of the Property or an intereat therein is sold or transferred E by Borrower without Lender's prior written consent, eKCluding (al the creation of a lien or encumbrance subordinate to. ~ this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise, E dexent or by operation of law upon the death of a jqint tenant or (dl the grant of any leasehold interest of three years or less ~ not containing an option to purehase. Lender may, at Lender's option, declare all the sums secured by this Mortgage to be immediately due and payable. Lender 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 ~ shalf request. if Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interest has executed a written azsumption agreement accepted in writing by Lender, Lender shall release Borrower from all ~ obligations under this Mortgage and the Note. If Lender exercises such option to accelerate. Lender shall mail Borrow~er notice of acceleration in accordance with ~ paragraph 14 hereof. Such notice shall provide a periocl of not less than 30 days from the date the notice is mailed within which Borrower may pay the sums declared due. If Borroa-er fails to pay such sums prior to the expiration of such period. ~ Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof. ~ - f Nort-UNtFOemt CovErteNTS. Borrower and Lender further covenant and agree as follows: _ pt p p r~rapb 17 hereof, upoa Borrower's breach of aay co~easnt or g 18. Accelerstbn; Remedks. Exce as mvided in a agreemeat of Bomuwer in t6is Mortgage, inclading the covtnants to pay when due aay sams secnred by thk Mortga=e, Leoder F prior to siccekration s6aQ mail aotice ~o Borrower as providtd in para~raph 14 hereof specifyiu=: (1) the breac6; (2) tLe actioa E reqofred to cnre snch bresc6; (3) a date, not less than 30 days fmm the dswe the ootke is mafEed to Borrowe~, by whicb snc6 breach mnst be cored; and (4) tbat fatlnre to cnn suc6 breach oa or befone the d~e speci6ed io the aotice a~ay resdt in sccderatioe oE t6e soms secmed by th~s Mortgage, foreclosure by judicial proceeding aod sak of the Property. 'lbe aotice ; shall furt6er.inform Borrower of the right to relnstate after ~cceleratbn nud t6e right to assert in tbe foreclosure proceeding ~ tbe non-existeace o[ a defank or aay other defense of Borrow`er to accekratioa and foreclo~nre. IE the breach is nM cored on ~ or be[ore t6e date speci6ed lo the notice, Lendeir at Lender's optlon may declare all of the sa~ xcnred by this Mort;~e to be ~ immediately doe aed payabk witboat furt6er demand aad may forecbse this Mort;ate by judkial proceedin`. Leader shaU ~ be eatitled to copect in auc6 proceediag a~ e:pe~es of foreclosure. includin~, bnt not limited to, reasonabk attoraey's fea, ~ sod costs of docnmeotary evideoce, a6stracts and title nporta. ~ ~ 19. Bormwe~'a Ri6ht to Reim~tate. Notwithstanding Lender s acceleration of the sums secured by this Mortgage, c Borrower shall have the rig6t to have any proccedings begun by Lender to enforce this Mortgage discontinued at any time ~ Bo~K 3i12 ?~a~E 1~ ~ . . ~ ~ ~ _ ~~~~r~ ~ : , - - _ _ ~ ~ _ -