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Home My WebLink About0264 . ; ~ ~ i ~ Le~dei s writte~ aa~eeme~t or spplicabb law. Botrowe~ shdl pay the amount ot all moKaage iosurar~ce premiunu in tbe manner providcd ~nder parag~aph 2 heroof. Any amoun~s disbu~sed by I.cndcr pursuant to thit paraa~aph 7, with interest thereon. shall becane additionsl inJebiedness of Borcowe~ securod by this Mongage. Unless Barrowe~ and l.ender agroe to othe~ tettns ot payment~ such amounts shall be payabk upan notice from I.ender to Borrowe~ roquesting payment thereot, and shall bear iMerdt fmm the date of disbursement at ihe rate payabk tram time to time on a~tstanding principa) under the Note unkss ps~ment ot interest at such rate would be contrary ta applicabk law, in which event such amounb shail bear interest at the hishest rate i ~rmi~ibk under applicabk law. Nathing cc~ntained in this parasraph 7 shd) require Lende~ to incur any expeme or talc~ ~ any action hereunder. ~ S. It~}ectio~. i_ende~ may make or caux to be made reasonabk entries upon and inspections of the Property. pro~?ided . that l.oode~ shall give Borrower notice prior ta any u~ch inspection specifyina reuonabk cause therefor rclated to La~der's interest in the Property. 1 : 9. Coodemsstbw. The proceeds of a~y awa~ o~ claim for damaga. direct or consequential. in co~nection with any condemnation or other taking of the Propeny, o~ part thercof, or for conveyance in lieu of condemnation. an hercby ass~Sned and shall be paid to Lender. In the event of a total taking of the Propehy, the proceeds chall bc applied to the sums secured by this Mortgage, with the excess, if any, paid to Borrower. ln the eyent of a partial taking of the Property. unkss Bomower and I.ender otherwix agroe in writinR. Ihere shall be applied to Ihe sums secured by this Mortgage such ptoportior~ of the procsods as is oqua) to that proporiion vrhich the amount of the sumc secored by this Mortgage immediately prior to the date of : taking bears to the fair market value of the Prapcrty immediately priar to the date of taking, with the balanoe of the proceeds paid to Borrowe~. - if the PropeMy is abandooed by Borrower, or if, after notice by I.ender to Bormwer that the condemnor oBen to make an award or settk a claim for damages, Borrower fails to rcspond to !_ender within 30 days after the date such notice is : mailed. l.en~kr ic authorized to collect and apply the proceeds. at i.endcr's option, either to ratoration or eepair of the Property or to the cums securcd hy this Mortgage. Unles.c I_ender and Borrower othenvicc agree in writ~nR. any such application of proceeds to principal shall not extend E or postpone the due date ot the monthly installmcn~s rcferrcd to in paragraphs 1 and 2 hereof or change ihe amount of ` such in~tallments. 10. do~ro~rer Not Rekased. Extension of the time for payment or modiflcation of amortization of the wms securcd by this Mortgage granted by [_ender to any cuccecsor in interect of Borrower shall not operate to rekase, in any manner, the liability .of the original Borcower and B..rrower'c successorc in intercst. I.ender shall not be rcquired to commence proceedings against such successor or refuse to ertend time for payment or otherwise modify amortization of thr ~ums secured by this Mortgage by rcau~t~ of any demand made by the original Borrower and Borrower s successors in interect. l l. Rorbearance by t.ender Not a Waiver. Any forfiearance by l.ender in exercising any right or rcmedy hereander, or otherwise afforded hy applicable law. shall not be a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance or the payment of ~axes or other liens or charges by t_ender shall not be a waiver of Lender's right to accelerate the maturity of the indebtednecs secored hy this Mortgage. : 12. itemedies Cea~ulsti~e. All remeclies pmvided in this Mortgage are distinct and cumulative to any other right or ~ . remedy under this Martgage or affarded hy law or equity, and may be exercised concurr+endy, independenUy or successively. ' 13. Saccesaors and Assi~~ Bound; ~iant aad Several I.iability; Csptbns. The covenants and agreements herein contained shall bind, and the riRhts hereunder shall inure to, the respective successors and assigns of i.ender aod Borrower. subject to the provisions of par~graph 17 hercoL All covenants and agreements of Borrower shall be joiR~ and severaL The captions and headings of the paragraphc of tbis Mortgage arc for convenience only and are not to be uud to interprct or define the provixion~ hereof_ 14. Notice. Except fot any notice rcyuired unckr applirable law to be given in another manner. (a) any notice to Borrower provided for in ~fiis Mortga¢e shall be given hy mailing such notice by certi}ied mail addressed to Bcxrower at the Properiy Address or at such other addres~ as Borrower may designate by no~ice to T.ender as provided herein. and (b) any noticc to Lender shall he given by cenificd mail. rca~m receipt requested. to I.ender s addreu stated herein or to such other addrcss as t_endsr ma}• decignate by n~tice to Bo~mwer u provided herein. 11ny notice provided for in this Mortgage shall be deemed to havc k+ecn given to Borrower or Lei?der when given in the manner designated herein. IS. Uniform Mort~a~e; Govemin~ Iaw; Sererability. This form of mortgage combina uniform covenants for national ~ use and non-uniform covenants with limiteJ variaticx~s by jurisdiction to constitute a uniform security instrument cove~ing real property. This Mortgage shall be governed hy the law of the jurisdiction in which the Property is located. In the ` event that any provision or clause of thic Mortgage or the Note conflicts with applicable law, such conflict shall not affect `s. other provisions of Ihis Mortgage or the N~tr which can be given efiect witfiout the conflicting provi~ion, and ta this ~ end the provisions of thc Morlgage and the !Vote are Jcrlared to he severable. S 16. Borrower's Copy. Borrower shall be furni~hed a conformed copy of the Note and of this Mortgage at the time ~ of eaecution or after recordation hereof. ~ 17. Traasfer of t6e Properfy; Aswmption. if all or an~• part of the Pmperty or an interest therein is sold or uansferred ~ by Borrower without I.ender's prior writ~~n cunW:nt. e~cluding (al the creation of a lien or encumbrance suborJinate to ~ this Mortgage. (b1 the creat~on of a purch:~~: m~~nry ~ecurit~~ interest for household appliances, (c) a transfer hy devise. ~ descent or by operation of law upon the death o( •r juint tenant or (d1 the gram of any leasehold interest of thrcc ycars or less ~ not containing an option to purchase. l.ender ma}~. at I.ender'c option, declare all the sums secured by this Mortgage to be ~ immediattly due and payable. I_ender shall have N ~i~•ed such option to accekrate if, prior to the cale or transfer. I.enckr ~ and the person to whom the Property ic to be .o1J or transferred reach agreement in writing that the credit of ~uch person is satisfactory to I_ender and that the imere.~ pa}~abk on the sums securcd by this,Mortgage shall be at such rate ac I_ender ~ shall request. if I_ender has waived the option to accelerate provided in this paragraph 17, and if Borrower'~ successor in ~ interest has executed a writlen assumption agreement accepted in writing by I_ender. Lender shall release Borrower from all obligations under this Mortgage and the No[e. ~ if Lender exercises such option to accelerate. I.ender thall mail Borrower notice of accderation in accordanc~ ~~h paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is m~iled v~ithin which Borrower may pay the sums declared due. lf Borrower fails to pay such sums prior to the expiration of cuch peri~xi. ~ Lender may, without furthe~ notice or demand on ~rrower, invoke any remedies permitted by paragraph 1 R hercof. ' Norr-UH~FOant CoveN~xTS. Borrower and I_ender further covcnant and agree u follows: ` 18. AccelerNbo; Remedies. Escept as pmvided in p~ra6raph 17 hereof+ upon Sorrower's bresch of auy co~tnant or a~reemeat of Eorrower ie t6is Mortaa~e, iadudl~ tbe corenants to psy when doe any sums xcartd by tbis Mortga~e. Leader prbr to scceleratioa shall mail aotke to dorro~?er as provlded fo pus`raph 14 btrcot specit~: (1) tUe breacb: (21 ~he actaa ~ rcq~L~ed to cere soc6 brescb; (3) a date, aot kss tban 30 days from t6e date t6e ootke b ma8ed !o Eormw'er. by which wch - bresch msst be cured; aod (4) thst failure lo cnre such breacb oa or before 16c dde speci~ied iu the uotice may re.sult ia sccelcratjon ot t6e ~ms secared br this Mortas~e. toaclowre by judkial proceedi~ md sale of tbe Properry. 71~e notice shall fnrtber infono Dorroner of the ri~ht to rei~tate after sccckration and the riabt to ~sserf ia ti~e foreclosurt proceedia~ t~e noo-e:istence of a defanlt or anr Mher detense of Eorrower to ucekration snd forec{osere. It the brescb ts eot cnced ouu ' = or betore Ihe dale speci6ed ia tbe aoti~e. Lender ~I I.ender's optbn may declare ap of the sn~ sec~r'~d b~' fbi~ Mort~a~e to be = imoxdistdy dne and payabk withont tnrther demand ~nd may foreclose thts N'lortaa~e b7 j~dkial P~oceedia~• ~•ender chall be entided to coqM in sac6 Procetdiu~ aq e:penses nf foreclosnre. inclndiu=, bYt ~ot Waitt~ to. reasona6le attnrnev's fees. ` ~ aod costs of docameatary evideoce, sbstracfs a~ lilk reporis. . ~ 19. dorroaers Ri~bt to Rei~stata Notwithstandin~ Lender's acceleration of the sums securcd by ~h~s Mortgage, Borrower shall have the right to have any procerdings t~c~un hy Lender to enforce this Mortgage discontinued at any time - $o~K3U4 ~~E 264 ~ : _ _ _ . M__ _ ~ ~ ~ ;~`a 1 , _ - - - - _