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Home My WebLink About0576 , Leade~'s writte~ agrcement or applicabb law. Borrowe~ shall pay the amount ot all mongage insurance prcmiums i~ the ~ fnanner provided u~der paragraph 2 heroot. Any amouots dislxused by I.eoJe~ pursuaM to ~hi~ pa~agraph 7, wi~h inte~+e.st thereoo. shall become additional ~ indebtedness o[ Borrowcr secured by ~his MoNYage. Unless Borrowet aod I.enJer agroe ta othe~ tertns uf paymeM. such amounts shaU be payabk upon natice from i.ende~ ta Bartower requesting payment thereof, and shall bear interest fmm Ihe date of disbursement at the ntc payabk from time to time on outstanding p~incipal under the Note uoless payment of inte~est at such rate would be contrary ~o applicabk law, in which event such ~mounts shall bea~ interost at the highest rste permiasibk under applicabk law. Nothi~a cantained i~ Ihis paragraph 7 shall require I.ender to incu~ any ezpe~se or talce any action hereunder. S. I~yecMo~. i.e~der may make or cause to he made rcasw~abk entries upon and inspections ot the Property, provided ~ that Londer shall Sive B~rrower notice prio~ to any such inspectian spe;.itying reasonable cause therefor relatod to Lender's ~ interest in the Ptoperty. , 9. Cowie~a~aMo~. The proceeds af any award ar claim for damages, direcl or consequtntial. in connection with any condemnatioe or dher taking of the Property, or part thereof, or for conveyance in lieu of condemoation, an hereby assigned md shall be paid to i.ender. ` ln the eveot of a total taking of the PropeNy, the prcxeeds chall be applied to the sums secarcd by this Motigage. ; with the excess, if any, paid to Borrower. in the cvent af a panial taking af the Property. unless Borrower and I.ender othervvise~agree in writing. there shall be applied to the~.ums secured by this Mortgage such propoN~on of the proceeds i u is equal to that propoKion w•hich 1he amount of ~he sumc cecured by this Mortgage immediately prior to the date of taking bears to the fair ma~ket value of !he Pmperty immediately prior to the date of taking, with the balance of the proceeds paid to Borrower. ~ ; 1f the Property is at?andoned by Borcower, ar if. after notice hy I.ender ta Bormwer that the condemnor oRers to make , an award or settk a claim for damages, Borrower fail. ~n recpand ta I_ender within 30 days aiter the date such notice is j maikd, i.eode~ is authorized to collect and apply the proceeds. at l.ender's oplion, either to restontion or repair of the ~ ~ Propeny or ta the sums securcd hy this Mortgage. ~ ~ i Unlas Lender and Borrower otherwice agree io wriling. an}• such application of proceeds to principal shal) not extend _ or postpor~ee the due date of the monthly installmcnts rcferrcd to•in paragraphc 1 and 2 hercof or change the amount of ~ such installments. ? 10. don+o~+er Not Rekased. Extension of Ihe time for payment or modifrcation of amortization of the sums secured by this Mortgage graated by I_ender to any cuccecsor in interest af Borrower shall n~t ope~ate to release: in any man~er, the liability of the original Borrawer and &?rrower ~ si~ccesu~rs in interest. I.ender shall not be required to commence proeeedings against such ssiccessor or rcfuse to extenJ time for payment or othenvise mc~dify amortization of thr ~~~ms securcd by this Mortgage by reason of any demand made b~• !he oriQinal BoROwer and Borrower s succescors in interec~. 11. Forbeansce by Leader Not a Wairer. Any ~~rhearancc by l.cnder in exercising any right or remedy hercunder, or otherwix aRorded by applicable_law. shall nc~t be a waiver of or preclude the exercise of any such right or remedy. The procurcment of insurance or the payment of taxes or other liens or chatges b} I.endershall not be a waiver of Lendei s right to accelerate ihe maturity of the indehtednecs cecured hy thic Mortgage. - 12. Reraedies Cnmalsti~e. All ~smedies provided in thic Mortgage are distinct and cumulative to any o~her right or remeJy under this Mortgage or aftorded hy law or equi~y. :~nd may be exercixd concurrenUy. independendy or succecsively. ' 13. Srece~ors aad Assi~as Bound; .Ioint sn~ Several 1.iabiliry; Captbns. The covenants and agreements herein contained shall bind, and the riRhts hereunder shall inure to. the rcspective successors and assigns of Lender ac~d Borrower. ~ subject to the provisionc of paragraph 17 hereof. All covenants and agreements of -Borrower shall be joiry and several. The captions and headings of the paragraphc of thic Martgage are for convenience only and are not to he used to interpret or define the proviSions herrnf. l4. Notiee. Except for any nMice rcyuired under applicable law to be given in another manner, (a) any ~otice to Borrowtr provided for in this Mortga¢e shall be given by mailing such notice by certified mail addrcssed to Borr~~w•er at the Property Address or at such other. addresc as Borr~wer may designate by n~tice to i.entkr as provided herein. and (b) any notice to Lender shall he givcn by cerliBcd mail. rctum receipt requested. to I.ender s address staled herein or to such other address as Lende~ may decignate hy n~tice t~~ Borrower as provided herein. Any notice provided for in this Mortgage shall be deemed to havc t+een. grven to Borrower or l.cnder when given in the manner designated herein. 1S. Uaitorm MoN~sRe: Govemi~ Law: Severability. Thic form of mortgage combines uniform covenants for national i use and non-uniform covenamc with IimiteJ variations b}• jurisdiction to constitute a uniform securiry instr~iment covering ~ real propeny. This Mortgage shall be governed M the law• of the jurisdiction in which the Property is located. in the ; event that any provision or clause of thic Mortgage ~r the T~iote conflicts wi~h applicable law, such conflict shall not affiect. ~ other provisions of this Mortgage or the Ne~te which can be given efiect withaut the conflic~ing provicion, and to this j end the provisions of the Mortgage and the 'Note arc ~Icclared to he severable. 16. Eorrower's CopY. Borrower shal! be furni~hed a conformed cop~~ of the Note and of this Mortgage at the time ~ of execution or after recordation hereof. ~ 17. Traesfer of the Propertv; Assumption. if all or any part of the Pruperty or an interest therein is sold or transferred by Borrower without I.ender s pri~r writrrn concem_ excluding lal the creation of a lien or encumbrance sut~ordinate to ~ this Mortgage. (b) the creation of a purchace mone}• ~rurit~• interest for .househoTd appliances. (cl a transfer hy devise. descent or by operation of law upon the death of a j~nnt tenant or (d~ the grant of any leasehold interest ot threc ycars or less ~ not containing an option to purchase. [_ender may. at I_ender't option. ~eclare all the sums secured by this I?iortgage to t~e ~ immediately due and payable. Lender shall have ~ai~~ed such option to accelerate if, prior to the cale ar transfer. [.encler and the person to whom the Property ic ta be col.l ~~r transferred reach agreement in writing ihat the credi~ of ~uch percon is satisfactory to Lender and that the interc~t pa~~able on the sums sccured by this Mortgage shall be at such rate ac l.ender shall rcquat. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interest has executed a written assumption agreement accepted in writing by I.ender, Lender shall release Borrower from all obligations under this Mortgage and the Note. If Lender exercises such option to accelerate, Lender ~hall mail Borrower notice of acceleration in accordancr ~~h paragraph 14 hereof. Such notice shall provide a period of not lesc than 30 days from the date the rtotice is mailed w•ithin which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of ~uch peri~xi. Lender may, without further notice ar demand on iiorrower, invoke any remedies permitled by paragraph IR hercof. ~ Notv-UrrtFORt~ CoveN~HTS. Borrower and Lender further covenant and agrce u follows: M 18. Acceler~ba; Remedks. B:cept as provided ia psragnpb 19 hcreof. upon dorro~?er's brcacb of say rn•eaanf or ~ ssrees~est ot Eorruwer io tbis Mort~s~e, i~cludi~ t6e co~ensnts to pay when dne any soms secared by tbts Mort~age. I.ender prior to sccekratios s6a9 mail notice to dorro..cr as provided in parasraph 14 6ereot specifyius: (11 tbe breach:12/ the action ~ reqnired to cia~e socb brescb: (3) s date. sot k~ t6an 30 days from the dste tbe notfce is a~aikd to dorrower. by ~+hich such ~ bresc~ ~past be cored; aod (4) t6at failnre to cnn snch breach on or betore tbe dsle specN'ied iu thc notice may recult ia ~ sccdera~ow oE tre so~s secorcd by this Mort~aRe. torec{owrc by jndicial proceediu~ snd sak of thc Pmperty. 71~e nMice ~ shaN f~riher iafonn Eorr+uwer of the ri~bt to rci~tste ailer sccek~ation and lhe right to ~ssert ia the forecbsure proceedi~ ~ tLe wa.ext~teace of a defanM or any Mber defease of Borrower to accekration snd foreclosnre. If tbe breach is aot cnred on ~ or 6etore the date speci6ed io tbe ~otke. l.ender at [.ender's option ma~~ declare sq of the wms sceured b~' this MortRar;e b be immediatdy due aea psyable w'ithoot tnrther demand and may torecbst this Mort~a~e by judicid proeeedin~. i.ender chall be eotided to cdket iw s~cl~ Proceedi°L sN e:penses nf foreclosnre. incladin~, b~t eot li~ted to, rr~sonsbk rn~~rne i's fees. snd co~ts of doc~!sewtary eridenee, sbstracls sad litk nports. 19. dorrown's Ri66t to Rtiastate. Notvviths~anding l.ender s~ accekration of the sums securcd by th~• M.~ngage, ~ Borrower ahall have the right to have any proceed~ngs he~un ~+y Leoder to enforce this Mortgage discontmued at any time . d 0 R ~ , BoaK~U3 ~A~E 575 _ _ _ . T : - ~ ~ ~ . ~ ~.=d ~y - ~ ~ ~ ~:=~:='-1