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Home My WebLink About0844 • t . , ~ ~ i • ~ ~ l.ender's written ~b ~:m~n~ or applicable law. Borrowe~ shai~ pay thc anwunt of w~~ rnurtgagc iD~urance premiurta in the ~ manner providcJ u::ckr pa?ag~aph 2 hereot. ` Any amounis distxirsed by I.e~der punuant ~o ~his pa~agraph 7, with ~ntcrw{ ~hercno, shall become addition~.{ i inJcbledoess o[ Borrowcr securcd by this Monb•rge. Unlccs Borruwe~ and LenJer agrce to othe~ ~crn?s .~t payment, such amounts shall be payabk upon nc~ticc fmm I.ender ~o Bo~mwcr rcquecting paymem thcrrnf, arut ch,~11 hc..: interat from the date o( disbursement at Ihe rate payahk from time to time un outstandiog principa) u~der the Note unlecs payment of interes~ at such rate would be caotrarv to applicable law. in which event cuch amounts shall bebr interest ~t the highest rate ~ permissit~le uoder applicabk law. Nothing contained in thic paragraph 7 shall require L.ender to incur aoy expense o~ tske ~ : any aclion hereuader. ' & faspecfios. i.enckr may make or rause to I+e madc rcaccmable entrie~ upon a~d inspections of the Praperty. provided ` that i.rnder shall give Horrower aotice prinr to any u~ch irtspectian specifying rcasonabk cause therefor related to Lender's ° intcresl in the Property. - - ' 9. Cosdemnation. The praceedc of any award or claim for damages. direct or cansequential, in connectioo with any condcmnala~ ar other taking of lhe Property. ~~r part the~rnf, or for conveya~ce in lieu of condem~ation, arc hereby usigned and s. ~all be paid to t.cnder. - )a the event of a tolal takin¢ of the Proper~y. Ihe pnkeeds chall t~e applied to the sums securcd by this Mortgagt, witr the excess, if any, paid to Bc~rn•vircr. ln thc cvcm ~~f a partial ~aking of the~ Propeny, unlecc Bc~rrower and Lende~ othen~ise agree in writing. there shall be applied tc. the ~um~ cecurcd M~ this Mongage such proportion af ~he proceeds ~ ~ as is equal to that pro~rtion w•hich thc amuu~~t th~ ~um~ ucured hy this Morigage immediately prior lo the date of ~ taking bears to the fair market valuc af the P~o~xny immediatcly prior to the date of taking, with the balance of the proceeds ~ paid ta Borrower. ~ _ ~ if the Property is abandoned h}• R~~r.aw•cr. ~~r ~i. :~Rcr notice by I.ender to Bormwer that the condemnor of~ers to make an award or tettle a claim for Jam;i~~c. R~~rr~~~-cr fa~l. tc? re.~x~nd to I.ender wilhin 30 days after the date such notice is 1 mailed. Lcnder authorized to collect :~r.d appl~• th~ prc.cccds. at l.ende~ i ~ption, either to restoration or r+epair of the y Pro~cny or to the sum~ vccured h~~ tfiic !N~rleagc. ; Unles~ t_ender and BorroWCr othen+ice acree in Nrit~nL. an~• ~uch applicalion of procetds to principal shall not exte~d ; or postpone the d~M date nt the mon~hh• installmcntc rrf~rrcd to in psragraph~ 1 and 2 hereof or change the amount of ~ swh installmentc. - l0. Borrower Nol Releaced. E=tirncion of the time fur payment o~ modification of amortization of the sumc secured ~ . by this Mortgage granted hy T.en~er t~~ ant• ~uccecu~r in interr.t of Bc?rrow~er shal) n~t i?pe~ate to rclease. in any manner. the liability o~ ~he original Bormwer and &arower'c succrsu~r~ +n interest. l.enckr shall nat be required to commence ~ proceedings against such u~essor or rcfu.c to ertenJ timc fc?r ~avmcnt or othcn.•isc modify amortization of thr .ums se~:ured by thic Morigage by reaci~n of :~m• d~mand mad~ M.thr ~•ricin3l Borr~wer and R~~rrowers sttccescorc in inlerett. ~ . 11. Forbearance by l.ender Nof a Waive~. Am G•rhear:?ncr t~~. 1:~der in e~ercising any right or remed}~ hereiender, or ~ otherwise afTorded by applicahle law_ shall n~t he a wai~•er <•f ~~r prrciude the exercix of any such right or remedy. ~ The prceurement of insurance or the payment of 1:~ses or other licns ur chargec b}' I.~nder shall not be a waiver of l.ender s j right to aeeelerate the maturiry of the indehtednecs cccurcd h~~ thic Morteage. ~ 12. Remedies Comnlatire. All rcmcdies provided in thic Mortg.~Ec are distinct and cumulative to am• other rigM or ~ remeJy under this Mortgagc or affordcd h~~ law• or eyuity. anJ ma~• he e~erci.cd concurrendy. independenUy or suc .cssivcly. ~ ' 13. Successors and Assi~as Bound: ..loint aad Se~er~l I.iaM7ih; Captions. The covenants and agreemea s hcrein 4 contained shall bind, and thc rights hereunder shall inurc to. the rccpective successors and assigns of Lender at~d B~~rmwer. i subject to the provisionc of paragraph 17 herrnL All co~enantx and agreementc of Borrower shall he joiN and severat. 'llie captions and headings of the paraeraph~ of thi~ Mortgage are for convenience only and are not to be uced to _ interpret or define the provisianc hereof. ~ ; l4. l~Wice. Except for any notice rcynired under applicahle law• to be given in another manner. (a) any notice to } Borrower provided for in this Mortga~e chall he gi~'en h~- mailing such notice by certified mail addressed to Bc?rrow•er at ~ the Property Address or at such other addrr~. a. B~~rr~~wer ma~• decignate by notice to l.ender as provided herein, and ~ (b) any notice to Lender shall he ~icrn hy cer~ified mail. return receipt requected. to I.ender s address stated herein or to ~ sueh other addres~ as Lender may deaienate hr n~tirc tr Borrov?•er as provideJ herein. Any noticc pmvided for in this Mortgage shall be deemed to ha~•c l+ern g~~~cn to Borrow~cr ar l.ender when given in the manner designated herein. ~ 15. Uniform Mort~a~e; Governin~ Ia..•; Se.erabilily. Thi~ form of mortgage combines uniform covenantc for national ~ use and non-uniform covenantc with limited variations h~- juricdiction to constin~te a uniform security instrument covering ~ I real propeny. This MortQage shall he guverned h~• thc law~ of the juritiJiction in which the Property is Iocated. In the - ~ event that any provision or clause .if thic Mortg~ee .~r the Note cnnflictfi w~ith applicahle law, such eonfliet shall not affect r other provisions of this Mortgage or the N~~tr ~hich can t?c given efiect withoat the conflicting provision, and to this ~ ~ ~ end the provisions of thc Mortgagc and the ~tote arc ~tcclared to he stverable. ' 16. Borrower's Copy. Borrow~er ~hall I+r furni.hed a cnnformed cop}~ of the Note and of this Mortgage at the time ` ~ ' of execution or a(ter recordation hereof. 17. Transfer of the Properfy: Ascumption. 1f aC ar am p~rt of ~hc Property or an interest therein is sold or transferred by Borrower without IRnder's prior wrin.n conunt_ c~cluding lal the creation of a lien or encumbrance subordinate to this Mortgage. Ib) the creahon of a pur~h~.~ m~~nrv ~ecurit~• inlerest for household appliances, (c) a transfer hy devise. descent or by operation of law• upon thc dcath ~~f ~ i~~~nt tcnam or (d? the grant ~f an} leaschold interest of threc ycars or less • not containing an option to purchase. I ender ma}•. at Lender't option, declare all ?he sums secured hy this Mortgage to Ue irnmediately due and payable. Lender chall ha.•e ~:uvrd ~uch option to accelerate if: prior to the cale or transfer. [.ender and the person to whom the Property i~ t+c .ol.l ~.r Ir:ensferred reach agreement in writing tha( the credit of wch person is satisfactory to I~nder and that the interr.t payable on the sums secured by this Mortgage shall be at such rate ac I_ender shall request. lf I.ender has waived the option to acrelerate pmvided in this paragraph 17, and if Borrower's s~iccessor in interest has executed a written assumption agreement accepted in w•riting by Ixnc3er. Lender shall release Borrower from all obligations under this Mortgage and the Note. ~ ; If Lender exercises such option t~ accelerate. Lender ~hall mail Borrower notice of acceleration in acrnrdancr i~h ; paragraph 14 hereof_ Such notice shall provide a pericxl not less than 30 days from the date the notice is mailed w•ithin : which Borrower may pay the sums declared due. If Rorrower fails to pay such sams prior to the expiration of wch period. . Lender may, without further notice ~r dcmand on Bormwer. invoke any remedia permitted hy paragraph 1 R hereof. NoN-UNtFORM Covesv~Nrs. Borrower and Lender turther covenant and agree as follows: ~ ~ : ~ 18. Acceleratioe; Remedies. E:ccp as pmvided ia parsg~raph 17 hcreof. dpon domower's breacb of aay coveaant or ~ aLreemeat of Borrower in t~~s MortgaR~, lncludin~ the covenants to pay r?bea due aay snms secored by thLs MortRsge. t.ender ~ prior to sccelention sbalt mail notice to aorrower as provided in par~raph 14-hercoE specifpias: (1) the brescbC IZI fIl! ~IYIOA ~ reqnired to care suc~ brescb; (3) a date. not less than 30 days from the date tbe aotice is e~aiied to Eorrower. bY whic6 such ~ breac6 n~mt bt cered; aod (4) that failure to curc such breach os or btfore the date specificd in the aofke may recult in ~ acccleratios of t6e snms secnred by this Mortgage. forecbwre by jodiciai proceedin~ aed sale of tbe Pmpe~ty. 7Le nMice ~ shaU fnrtber inform Eorrower of the ti~M to reinstate afkr accekratbn and the riLht to ss~ert ia the foreclosure proceedi~ . ~ t6e non-e:istence of a default or aay other defense of Borrowe~ to sccekration and forecbwre. it tbe breacb is aot cared on ~ or before the dste speci5ed in tbe notice. I.ender at l.endt~'s option may declart aN of t6e sruas secnred by t6is Mort~a?.e to 6e imtaediately due and paysbk vritl~oe! fnrther demand ~nd mar foreclose thb Moti~ase by judical procetdiu~• i.endrr chall be eatitled to colktt in soc6 proceedinR aq e:penses .~f foreclosurc. includina. b~t sot limifed to. reasons6k : ttnrnr;'s fets. ~d costs ot wrco~oeatary evidence. abstracts and titk reports. l9. Somor?e~'s Ri~ht to Reiastate. No~withs~anding l.ender's acceleration of the sums securcd by th~~ M.~rtgagc, - Borrower shall have the right to have any procecdmg~ he~un ry I.ender to enforce this Mortgage discontinued at an~• time ; ~ ~ . R~RK302 844 F ~ - ~ - - - " '4 , ~ ~