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Home My WebLink About0766 . ~ . Lender's written agrcemcnt or applicabk l~w. 8orrowe~ shall pay the amou~t ot all mo~tgage insurana p~emiunn in tbe . manoer pravided unde~ pa~ag~aph 2 hereof. Any amounts disbur:ed by I.endet purswnt ~o this pa~aanph 7, with interest thereon, shall become additioeal indebtedness ot Bo~rower xcurtd by this Mortgaae. Unless Borrower and Lemier aat~ee to othe~ ternu of paymeM. wch ~ amounts shall be payabk upon ncwice frc~m I.ender to Bortowe~ requating payment the~eof, and shall bea~ intercst fmm the date of disbursemeot at the rate payabk from time to time oo a~t:tandina principal under the Note unkss paytnait ot interest at such rate would be co~tnry to applicabk law, in which event such amounts shall bea~'interest at the hi~hpt ra~e permissibk under spplicabk law. Nathin6 coetainod in this paragraph 7 shall require i.ender to incur any eapense ot tate any action hercur~der. ~ ; s. I~cf1o~. Lender may make or c~use to be T~de rcasonab~e enlries upon and inspections of ihe Ptopetty. pror~ded that ~ende~ shall give Borrowe~ ndice pricx to any such inspoction spoci[yin6 reasonabk cause therefor rdatod to Leadet's - intertst in the Property. 9. Conde~stiow. The proceeds of aoy award or claim for damages. direcl or consequential. in ca~nection writh ~u7 coodemnation or dher takiog of the Property, or part tAercof, or for cooveyance in lieu of oondemnation. are heteb~? a:sifned and shall be paid to l.ender. In the event of a total taking of the Propeny, the proceeds chall be applied to the sums securod by this Mort~aae. with tht ezcess, if any, paid to Borrc+wer. in the event ~f a partial taking of the Property. unles~ Bomow~er and 1~eoder otherwise agroe in writing, thetr shall be applied to the sums_ securtd by this Mortgage such pmportion of the prooeedt u is equal to that propoKion vrhich the amwint of ~he sumc securcd by this Mongage immediatety prior to the date ot faking bears to the fair markN valut of the Property immediately prio~ to the date of taking, with the balanoe of the prooeeds paid to Bormwer. if the Property is abandoned by Bor:ower. or if. after notice by Lender to Bomower that the condemrwr oltas to maite an award or settk a claim for damages. Bc+rmwer failc to respond to l_ender within 30 days ther ~ihe, date such notioe is maikd. Lende~ ic authorized to co{kct and apply ~he proceeds. at I.ender s option, eithe~ to nstoration or ~epair ot d~e Propeny or to the sums securcd by this MoNitage. Unless ~ender and Borrower olhenvice agrce in writing, any such application of prot'eeds to principal shall not ractead - or pastpone the due date of the monthly inst~llments referrcd fo io paragrsphs 1 and 2 he~eof or chanse the amount ot such ~nstallments. 10. dorr~nwer Not Rekased. Extensio~ o[ the time for payment or modiRcation of amortiution of the sums secured by this Mortgage gnnted by Lcnder to aoy cuccessor in intercst of Borrower shall nd opente to rtkase, in any manner, the liability of the original Borrower and Bc+rrowcr x s~~ccessors in interat. Lender shall not be roquircd to commenoe procoedinas agairut such successor or nfuse to ectend time for payment or othenvise modify amortizalion ef the sums securcd by this Mortgage by reason of any demand made by the oriR~nal Borrower and Borrovrer's succe:tors in intercst. l l. For6caraece 6y i.ender Not a Wairer. Any forixarance by Lender in exercising any right or rcmedy he~sunder. or othctwix afforded by applicabk law, shall.not be a waive~ of or preclude the exercise of any such ri~ht or remedy. The procurc~nt of insurance or the payment of taxes or other liens or charga by Lender shall not be a waiver of Leeder's right to accelerate the maturity of the indebtedness securcd hy this Mortgage. l2. Rewedies Ca~oWbe. All rcmedies prov'~ded in this Mortgage are distinct and cumulative to any othe~ riaht or_ . rcmedy under this Mortgage or afforded hy law or equity, and may be exercised concurrcntty, independently or successively ' 13. S~eees~srs a~d Asd~s Eoued:.~oht s~ 3ercral i.isbWqr: Csptie~s. 'fl~e covenaab and asreements herein contained shall bind, and the rights hercunder shall inur~ to. the.respective successors and usi8as of Lender spd Bor~wer. subject to the provisions of paragraph 17' hercof_ /111 covenaots and agrcements of BoROwer shall be joiN and sevenl- The captions' and headings of the paragraphc of this Mongage arc for convenience only and ate not to be uxd to interpret or define the provisions herec~f. 14. Notke. Faccept for any notice rcquircd under applicable law to be given in another manner. (a) any ratice to Barrower p~ovided for in this Mortga~e shall be given by mailing such notice by certi8ed mail addrcssed to Borrowe~ at the PropeKy Addrc~.s or at such other address as Bormwer may designate by ootice to T~nder u prm?ided hercin, and (b) any notice to Leoder~shal) he given by certified mail, return rcoeipt requested. to Lender's address stated herein or to such other address as Lender may designate by notice ta Borrower ss provided herein. Any notia provided for in this j Mortgage shall be dcemed to have been given to Borrower or Lender when aivtn in the manner desi=n~ted hetan. ~ 1S. Udtors Mort~,a~e: Go~en~ Lsw; Se•erabBity. This form of mortgage comb~ries uniform covenants for nationat ~ use and non-uniform covenants with limited variations by jurisdiction to rnnstitute a uniform ~ecurity instrumeot oorerina ~ , real property. This Mortgage shall be governed hy the law of the jurisdiction in which the PropertY ia located: In the E event that any provision or clause of thic Mortgage or the Note rnnflicts with applicabk law. such conflict shall not al[ect ~ other provisions of this Mortgage or the Note which can be given eBect without tha oonAictins pmvision. and to this { end the provisions of the Mortgage and the Note arc Jeclarcd to be sevenbk• ~ lf. Son~owe~'s Co~y. Horrower shall be furnished a conformcd cop)' of the Note and of this Mortgage at the time ° of execution or after rccordation hercof. 17. .Tr~fer of N~e Tre~erty: Assr~uptiow• if all or any part of the Property or an ~nterest thcrein is sold or tnnsfened by Borrower without L.ender's prior wrinen consent. excluding (al the cration of a lien or encumbrance wbotdinate to this Mortgage. (b) the crcat~cx~ of a purchace money ~ecurity intercst for household appliances, (e) a tnnsfer hy devise. descent or by opention of !aw upo~ the death of a joint tenant or (d) the gnnt of any kasehold interat of threc years or kss not rnntaining an option to purchase, Lender may, at Lender c option. declare all the sums ~ecured by this Mortaaae to be immediately due and payable. Lender shall have w•rived u~ch option to accelerate if. prior to the sak or transfer. Lender and the person to whom the Proptrty ic ta be ca1J or transferrcd rcach agreement in writin= that the credit of such petson is satisfutory to Lender and that the inten~t pay~bk on the sums secured by this Mortgaae shall be at such rate ac Lender sha11 request. if Lender has waived the option to acceknte provided in this paragraph 17. and if Borrower s succasor in interat hu executed a written as.wmption agreement accepted in writing by i.ender. Lender shall rekase Borrowver from all oblijatic+ns under this Mortgaae snd the Nae. ~ 1f I.e.nder exercises such option to accekrate. Lende~ chall mail Bo~rower notice of accekntion in accordance a'~th pua~nph 14 heroof. Such notice shall provide a period c+f not las than 30 days from the date tfie notice is maikd within which Borrower may pay the sums declarcd due. If Borro~iver fails to pay such u~ms prior to the expintwn c+f cuch peric~d. ~ Lender may, without fu~Yher notice or demand on Horrower. invoke any rcmedia permitted by paratraph 18 hercaf• ~ Norr•Uxt~~?t CoveN~t+TS- Borro+~?er and L.ender further covenant and apee as fdiows: ~ li. Aceekntk~: Rewe~ia. E:ce~t a~ M'o~Ned ~ M~i~N 17 Meeeot. Row 1e~*~wp'a i~e~ci ot aq co•e~uwt ~r ~ a~ree~t ot 1en~wet iw fii~ Mortta~e. ~t tre corew~ds to Mr wre~ ~(t) ~e ~tre selM~ ~ trfor 1o acceleratlo~ ~k~M wail ~otice to ~o~nwcr as rto•lic~ h~ryb e~e~iei b a~e s~cti Meac~ I3) ~et las t~ 3~ Aays te~ N~e rate ftie ~otke b Wei N 1Knwer. b wWcb sKi ~ i~eaei ~t ~e e~e~ek a~ tl~at f~re N a~e s~e# Mrsc~ o~ or Ue~ore t~e aate ~oE tbe Tro~e~ry. ~at{ce ~ secekrMl.. oe u~ .....ee.n+ sy a~is M«e~a~e. r.~aio..K h~ r'~~b ...n+ iw tMe ro~el~we ~eea.s sraM f~r~e~ i~tors ionowe~ d tre ~Mt b~te after ~eaYk:diow awi tMe ~¢t ~ I~e ~o~re:wepee o t a ~ e t N l t or a~y o t r e r i e f e~ e o f ~ o w e r a aecekratlow a~i ronelowue. tt tMe bre~c~ r~ot e~ a~ or eetore fMe ~ale qeefial i~ tre ~etke.l.e~C~ at t.ewder's o~tio~ ~ry aeeYre ~N et t~e wr ~ee~si i!' 1Y~ Me~t~s M re r~ei~hl~, d~e a~i pyaMe witUo~t i~wther dcmand a~ w~sp foreclae tMb Moe~e~~i ~r~ fe~a. ~ be e~tldei te coYett i~ ner p+~c~cdi~L aN espt~sa ot foreclos~ne. Isc1~~. ~ atl ce~4 0( d~e•.-~e~tar~? sMtrscb a~i ti11e «p~b. ce 1!. 1~owa's 1t~M a Rel~tat~. NocwithstandinE Lender s acoek?ation ot the sums secuted by tAr_ onsa~e. gorrower sha11 have the risht to have any proceed~n8s he8un hy l.ender to enfora this Mortaase disconanued u any tiene ~ ~ 9o0K 302 ~ACf 7~ - - _ _ - _ . _ ~ ~ ~ . . _ _