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Home My WebLink About0507 ~ ' x Lender's written agreement ot applicable law. Borrower shall psy the amount of all mortgage insurance premiunu in the ~ manner provided unde~ paragraph 2 hereof. Any amou~ts disburscd by Ler~der punuant to this paragraph 7, with interest thercon. shall become additional indebted~ess of Borrower secured by this Mon~age. Unless Borrower and t.ender agree to other temns of payment. such amounts shall be payable upoe notice from Lender to Borrowe~ requesting payment thereof, and shall bear interest frorn ihe date of disbuntment at the rate payabie f~om time to time on outstanding principal under the Note unkss payment of interest at such rate would be contrary to applicable law, in which event such amounta shall besr interest at the highest nte permiuibk under applicabk law. Nothing contai~ed in this paragraph 7 shall require Lender to incur any expense or take any action hereuader. ~ 8. I~spectios. Cender may make or cauu to be made reuonable entries upo~ and inspections of the Propetty, provided that Le~der shall give Borrower notia prior to any such inspection specifying reasonable cause therefor rclated to I.ender's intercst in the Property. ~ . 9. Coademeatbn: The procc~eds of any awacd or elsim for damages, direet or consequential, in connection with any condemnutio~ or other taking of the Propeny. or part thereof. or for conveyance in lieu of co~demnation, are hereby aasigned a~d shall be paid to Lender. In the event of a totel taking of the PmPerty. the proceeds shall be applitd to the sums secured by this Mo~tgage. with the excess, if any, paid to Borrower. In the event of a partial taking of the Property. unless Borrower and Lende~ otherwise agree in writing, therc shall be applied to the sums secured by this Mortgage such pmportion of the proceeds as is equal to that proportion which the amount of the sums secured by ihis MoKgage immediately prior to the date ~of taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the pt+oceeds paid to Bormwer. If the Property is abandoned by Borrower, or if, after notice by Lende~ to Borrower that the conderunor_ otte» to malce an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is mailed. Lender is authorized to collect and apply the procecds, at Lender's optio~, either to ratoration or npair of Lhe ( Property or to ihe sums securcd by this Mort~tage. i Unless Lender and Borrowe~ otherwise agree in writing, any such application of proceeds to principal shall not extend ~ or postpone the due' date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such installments. ~ 10. Borrower Not Rdeased. Extension of the time for payment or modiflcation of amonization of the sums secured by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to releau, in any manner, the liability of the original Borrower aod Borrower s successon in intercst. Lender shall not be roquircd to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Mortgage by reason of any demaad made by the original Borrower and Borrower's successors in interest. !l. Forbesrance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or ~ otherwise afforded by applicable law, shall not be a waiver of or preclude the eaercise of any su~h right or remedy. ; The prQcurement of insurance or the payment of taxes or other liens oi charges by Lender shall not be a waiver of Lender's right to accelerate the maturity of the indebtedness securcd 6y this Mortgage. ' _ 12. Remedks Cnmuhthe. All remedia provided in this Mortgage are distinct and cumulative to any other right or - } remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively. ~ ~ 13. Saccessors and Assi~ns $ound; Joiat aad Sevenl i.is~bi~ty; Ca~tions. The covenants and agreements heroin contained shall bind, and the rights hereunder shall inuro to, the respective successors and assigns of Lender and Bornower, ~ subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shaU be joint and several. i The captions and headings of the paragraphs of this Mortgage arc for convenience only and are not to be usod to interpret or define the provisions hereof. ~ 14. Notiee. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in this Mortgage shall be given by mailing such notice by cenified mail addressed to Borrower at the Property Addrcss or at such other address as Borrower may designate by notice to i.ender as provided herein, and (b) any notice to Lender shall be given by certified mail, retum receipt requested, to i.ender s addresS stated herein or to such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this Mortgage shatl be dcemed to have beeo given to Borrower or Lender when given in the manner designatod herein. ~ 1S. Unffonu Mort~a~e; Go~erni~ Law: Severability. This form of mortgage combines uniform crnenants for national use and non-uniform covenants with limited vatiations by jurisdiction to constitute a uniform security instrument covering rea! property. 'il~is Mortgage sfiall be governed by ~he law of the jurisdiction in which the Property is located. In the ~ event that any provision or clause of this Mortgage or the Note conflicts with applicabte law, such conflict shall not aifect other provisions of this Mortgage or the Note which can be given effect without the conflicting ptovision, and to this e~d the provisions of the Mortgage and the Note are declared to be severable. 16. dorrower's Copp.. Borrower shall be f~rnished a conformed copy of the Note and of this Mortgage at the time i of execution or after rocordation hereof. ~ ~ 17. Trsusfer of t6e Property; Assumption. 1f all or any part of ihe Property or an interest therein is sold or transferred - ~ by Borrower without Leoder's prior written consent, excluding (a) the -creation of a lien or encumbrance subordinate to z ~ this Mortgage, (b) the creation of a purchase monay security interest 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 leaseh~ld interest of ihree years or less ~ not containing an option to purchase. Lender may, at Lender's option, declare all the sums secured by this Mortgage to be ~ immediately due and payable. Lender shap have waived such option to accelerate if, prior to the sale or transfer, I.ender and the person to whom the Propeny 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 17, and if Borrower's successor in ~ interest has executed a written auumption agreement accepted in writing by Lender, Lender shall release Borrower trom all obligations under this Mortgage and the Note. ~ tf Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with ~ paragraph 14 hereof. 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 Borrower fails to pay such sumi prior to the expiration of such period, ~ Lender may, without further notice or demand on Horrower, invoke any remedia permitted by paragraph 18 hereaf. ~ ; NoN-Ux~FORi?r Coverr~wrs. Borrower and Lender funher covenant and agree as followa: - 18. AccekMbe; Remedks. E:cep as provided io parsgrapb 17 hereof, upon Borrower's breach of asy co~eaaet or ~ ? aBreemeut of Botrower in Wis Mort6a`e, iacladia~ tLe coveoaats to pay when dne auy sams sec~rtd by t~b Mort~a`e, Lende~ r prbr to accdentioe s6a11 ma8 notke to Borrower as provided io parsaraph 14 6eno[ specif~: (1) tl~e M+cscl~; (2) t6e actioo $ requir~ed to c~re soc~ brescly a date, not k~ tLsa 30 days tro~a the date t6e notke is ouilea to Dorrower, by rr6ic~ wc6 :t s breach mmd be cored; aod (1) t6at hilnre to care sach breacl~ oa or before the date specl6ed h tLe soHce ~ry radt ie ' ~ accekratfoa ot tbe ssms iecored by tbis Mort~e. foreclosore by jndicial pmceedie~ and aale of t6e Propert~. 'Ibe notke ` sball fartber irform Eorrower ot the ri`W to reindah after sccden~oo nod t~e rft6t to a~ert in tre for~doa~rs proc~ed[~ ~ tbe noo-e~tence of a de[aak or aoy otber defeme of ~orrower to accekndoa ~wl foreclowre. If the 6cescY is oot c~red oe - ; or before tbe dste speciBed ia the aotke, Leader N Leader's optbe may declare all oE th~ soas secrred by t6i~ Mort~e b be ~ immediatdr due aad p~pable wkhoot torther demsad aad may Eoreclose t6is Mori~ase bY judicW Proc~edi~a~. Le~der s6a9 ~ be e~fitled to colkc! L socb pruceediog aY e~ema of forcclosnre, ~ch~dio~, bnt eot Umited to, rearo~s6le attoneYs Eea, ~ aod costs ot docnmenhry eridence, ab~trpcb aed t~de repotb. ti 19. Dorrower's Ri~6t to Reimtata Notwithstanding Lender s accekration of the sums secured by this Mortgage. a Borrower ahall hsve the right to have any proccedings begun by Lender to enforce this Mortgage discontinuod st any time ; • . E 9GpK 302 ~~Mrf 50~ ~ ~ ~ ~s._~ ~ ti ~ . w~ a ~ . . : _ ~ ~