The URL can be used to link to this page

Home My WebLink About0606 l.e~der's writlen agrcement or applirabk Iow. Borrowet shall pay the amount of aU muttgaae infurance p~em;u~ris in the manncr Qrovidcd under paragraph 2 hercot. Any amaunts disbu~sed by I.cnder pursuant tu Ihu paragraph 7, with intcrc~l thereon, shall become additior?al indebledness of Borrower securcd by this Mongage. Unlecc Borrower and I.enJer agree to other tertns o( paymeot, such amcxmts shall !~e payahle.upon n~~tice f~om I.ender 1o Borrowrr rcqutsting payment therrnf, and chall hear intercst from the dale of Jisbursement at ~he rat~ payahk from lime to time cm outs~anding principal u~der the Note unless pa'yment ot intercst at such rate wauld be contrarv to applicable law, in which event cuch amounts shall hear interest at the hiahest rate permissibk ~nder applicabk law. Nothing contained in thi~ pa~agraph ~ shall reQuirc I.ender to incur any experoe or ta1t~ any action hereunder. S. Isspectiow. I.ende~ may make ~r cause ta he made reasex~ahk entriec u{x~n and inspectioox of Ihe Property, provided that I.ender chall give Borrower nMice prior t~ any such inspection cpecifying rcasonabk cause therefar related to Leoder's interest in the Property. • • ~ 9. Condemeatbn. The prc~ceedc 6f any award or claim for damages. direcl or consequential, in connoction with :ny condemnation or dher laking of the Property, or part thereot, or for conveyance in lieu of caodemnation, are hereby assisr~` and shall be paid ta l.ender. ~ ln Ihe evenl af a total taking of thc Propeny. the prcxeeds ahall be applieJ to ~he sums secured by this Mort6age, with the excess, if any, paid ta Borrower. ln thc event of a partial laking of Ihe Property, ~mless Borrower and Lend.r otherwise agrce in writing. there shall be applied to the cums secured by this Mongage such proporlion ot the proceod~ as is equal to that praportion v?•hich ~he amount of the sumc cecured by this Mortgage immediately prior to the date ot taking besrs to the fair market value of the Property immediately prior ta the datc of taking, with the balance of the procesds paid to Borrower. Tf the Propeny ic abandooed by Bor.ower. or if. after notice by 1_ender to Borrawer that the condemnor ofkrs to malte an award ar setlle a claim for damages. Borrower f~ils to res~nd to Lender within 30 days after the date such notioe is maikd. Lender ii authorized to collecl and apply the proceeds, at I~nder's option, either to rcstoration or rtpair of tbe Propeny or to the sum~ cecured by this Mortgalte. Unless Lendtr and Borrower othenvice agrce in writing_ any such application of proceeds to principal shall not extead or postpone the due da~e of the mon~hly installments referred to in paragraphs 1 and 2 hereof or change the amouot o[ such installments. 10. Eorrower Not Rekised. Extension of the time for payment or modiRcation of amortization of the sums sxured by this Mortgage gnnted by t.ender to any cuccecsor in interest of Borrower shall not ope~ate to rckase. in any manner. the liability ot the originat Borrower and Bc+rrower-~ successors in interest. i_ender shall not be rcquircd to commence proceedings againu such successar or rcfuse t~ e+ctend ~ime for payment or otherwise mc~dify amortizat~a? of the sums secured by this Morigage by rcason of anp demand made by the oriqinal Borrower and Borrower s wecessors in interctl. 11. Forbearance by I.ender Nof s Wdvcr. Any torhearance by l.ender in exercising any right or rcmedy hereunder, or othenvise afforded by applicable law_ shall not be a waiver of or preclude the exercise of any suct. right or rcmody. The procarcment of insurance or the payment of ta~es or other liens or charges by Lender shall not be a waiver of I.endePs right to accelerate the maturity of the indehtedness ~ecurcd hy this Mortgage. l2. Ren~cdks Camulsthre. All rtmedies provided in this Mortgage arc distinct and cumulative to any other right or rcmedy under this Mort~tage or aftorded hy law or equity, and may be exercised concurrcntly, indeptndeotly or successivtly. ' 13. Srece~ors and Assi~~s So~~nd: aoiat aad Sererd i.iabalty; Captiows. The covenants aod agreements hercin comained shall bind, and the rights hereunder shall inur~ to. the respective successors and assigns of Lender a~d Borrower. subject to the provisionc of paragraph 17 hereof. All covenants and agreements of Borrowtr shall be jar~ and xvenl. The captions aod headings of the paragraphc of this Mortgage arc for conveoience only and arc not to lie useed to interprct or define thc provisions hereof. 14. Notiee. Except for any notice rcquired under applicable law to be given in another manner. (a1 any notice to Borrower p~ovided tor in this Mortga¢e shall be given by mailing such notict by certifled mail addressed to Borrower at the Property Address or at such other addresa as Borrower mav Sksignate by notice to T.ender as provided herein. and (b) any notice to Lender shall he given by certified mail. return receipt requested. to [.ender's addrcss stated hercin o~ to I such other addrcss as Lender may d~ciqnate by notice to Bormwer u provided herein. Any notice provided for in this f Mortgage shall be deemed to have been grve~ to Borr~wer or Lender when given in the manner desianated hercin. ! 1S. Uniform MoM~sRe: Go~eroin~ Lsw: SevenM'lity. This form of mortgage combines uniform covenants for national ~ use and non-uniform covenants with limitecl variations by jorisdiction to constitute a uniform security instrument rnvering ; real propeny_ This Mortgage shall be governed hy the law af the jurisdiction in which the Prop~rty is located. in the ~ event that any provision or clause of thic Mortgage or ~he Nole conflicts with applicabk law, such conflict shall not aRect t other provisions of tfiis Mortgage or the Note which can be given e~ect without the conflicling provixion, and to this ~ end the provisions of the Mortgage and thc Note are Jeclared to be severable. £ 16. dorrowe~'s Copy. Borrower shall be furniahed a conformtd cop~' of the Note and of this Mortgage at the time ~ of executan or after rccordation hereof. 17. .T~rfer of t6e Property: Assumption. It all or any part of the Property or an intercst thercin is sold or traosferred ~ by Borrower without L.ender's prior wriurn conxnt. excluding (al the crcation of a lien or encumbnnce subordinate to ~ this Mortgage. (b) the creation of a purch~ce money cecurity ~ntercst for houxhold appliances. (c) a transfer hy devise. ~ descent or by operation of law upon the death o( a jo~nt tenant or (dl the gnm of any Itasehold intercst oI threc ycars or kss ~ noc containing an option to purchase. Lender may, at Lender's option, declarc atl the sums xcurcd by this Mortgage to be ~ immediately due and payable. Lender shall have w•a~ved sach option to accelente if, prior to the sale or transfer. Lender and the penon to whom the Property ic to be colJ ar transferred rcach agreement in writing that the credit of cuch percon ~ is satisfactory to I.ender and that the interr•t payable on tht sums secured by this Mortgage shall be at such rote ac Lender ~ shall roquest. if Lender has waived the op~ion to accelerate provided in this paragraph 17, and if Borrower's succasor in ~ interat has exocuted a written auump~ion agrament accepted in writing by Lender. Lender shall ydease Borrower from all obli~uions under this Mortgage and the Nota ~ Jf Lender exercises such option to accderate, Lenckr shall mail Borrower notice of acceleration in accordancc w~ih pu~raph 14 hercof. 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. It Borrower fails to pay such sums prior to the.expiration of cuch period. ~ Lender may, without further notice or demand on Borrower. invake any remedia penn~tted by pangrapfi 1R hercof. ~ NoN-Un~FORM CoveN~HTS. Borrower and Lender further covenant and asroe u follown: - ls. Accekratbr, Reatedks. L:cept a~ provfded i~ ps~rsp6 17 bersai. Ru~ 1or~wee's brcaci d ay co~ewt ~t i: a~reewe~t ot ~orrower i~ tbB Mortsa~e, ~we co.~ ~o P.y ~•e ..r ss~s stc~ d7 t64 Moet~a~e. I.e~Ber prior b accekrstlo~ s~ wafl aotke to dorrower as provided iw pn~rap6 14 bereo[ ~pccKlisia (1) tMt 6reac~: (2N kh s~cM e~e~ire~ b c~ue wc~ bre~cl~; (3) s dMe. ~ot las tYa~ 30 days trom tl~e aate tbe ~otke r~aYea b 1oROwer. b ~ 1aac1~ ~rt be esna; ri t6at t~rc to crre arcl~ bnac~ o~ or retore t~e date qcelfea b tUe wtiee a~ar sccelerMlo~ o( t~e su~ ~ec~ed by ehh Mo~,~e. to.eclosere bp judicW M'~cecdb~ ~ ~a1e ot tbc hopeel~. 'iUe wotiee :t sMaN t~rt~cr hfon~ eorrower ot tMe riRIN to rcl~tafe atfcr aecelcrstio~ asd tUt ~t b awed i~ tbe toreclowre procscdi~ tie ~ow~esWesee ot ~ ~etadt or my dUer ~ctc~se ot sorrower to acceleratlo~ and toreebwre. H tLe brcacw b ~ot e~nd o~ _ or betore tue ~t qailid i~ We notke. Ltedcr a1 [.ewder's opiow ~ay dttlarc aY of tbe w~u seerrtd by HY MortRaRt M be ia~edLhly dre awi pysbk witl~ort t~utber demand aad msy torttlost tb4 Mo~a~e bp j~ikW M'~'Kdi~. Lender ahall ~ be ~ to cdkel h aK~ rroeeedf~ sN expcoses of foreclosrre. bcbdie~. brt ~ot ~¦dte~ !o. rearo~sbk sta,rner's fees. ~ asa oos~ ot doe.'~eMarp e~ide~ee+ sbs~~ ~ litk rcpo~is. ~ l~, Son~owp'~ Rl~f to Reirlate• Ncwwithstandin~ Ltnder s acaleration of the sums secured by th~~ M~nsate, k Borrower shall have the right to have any ptocadings hegun hy Lender to entorce this Monga~e discootinued at any time ~ ~ ~ BOOK JV4 ~AGE 6OV ~ g, ~.rx~.- . . . . . . . . . _ ~ ~ ~ ~ ~ ~ a=