The URL can be used to link to this page

Home My WebLink About0619 t , l.endct's written agreement or applirabk law. Botrower shall pay the amount ot all mortgage insurance premiums in the mao~?er pravided under paragraph 2 heroof. Any am~unts dixhurud by I.ender pursuanl la this paragraph 7, wi~h int~rest thereoo, shai) bccome additional indeb~tdness of Borrower cecurcd hy ~his Mongage. Unlecs Barrowe~ and I.eoJer agree to other terms af payment, such amounts shall tx payal~lc u{x~~ n<~~ice f~om I.ender to Bo~mwc~ reques~ing payment Iherrnf, and shall hea~ intercst from the date of disbu~sement at ~he ratc payahlc trom time to time on aitstanding principal under the Note uol~s pa~rment ot intercst at such rat~ wauld he cantrarv ~o applicabk law, in which event cuch amounts chall hear interest at the hi~hest rate permiuibk uod~r applicable law. Nothing conlained io this paragraph 7 shall require I.ender to incur any eapense or tatt any action hereunder. s. I~spectios, l.ender may make or cause to he made reasonabk entriec upon and inspeclions of the Property, provided Ihat I.ender shall Rive Bc~rrower ~wtK-~ p~~nr to ~ny soch inspec~ion specifying rcasnnabk cause therefot related to Lp~der's interett in the Property. 9. Cowdemeafbn, The proceedc of any award or claim for damages, dircct or canccqueotial, in connection with any condemnation or other taking af the Property. or pah thercot, cu for conv~yance in lieu of condemnation, are hereby s:si6ned and shall be paid to i~ender. In ~he event of a total taking of 1he Propehy. the prcxeods chall be appliai to the sums secured by tAis Monaage, with the excess, if any. ~paid to Bo~rower. In the evenl of a partial Iaking of the Property, unkss Borrower and Lender otherwix agree in writinR. there shall be applied to ~he sums securcd hy thic Mottgage such proportion of the umeeeds as is equal to that praportion which the amoun~ o( thc sum~ ucurcd by this Marigage imme~iiately prior to the date of tak~ng bears to the fair market value of the Propcrty immediately prior to the datC of taking, with the balante of the pmcoods paid to Borrowe~. If the Property is ahandoneJ by Bor:ower. or it. after natice by I_ender to Borrower that the condemnor o}fers to make an award or setUe a claim for dam~gts. Borrower t~ih to resaond to I.ender within 30 days after the date such notice is maikd. LenJer ic authori7ed ta collect and apply the proceeds, at 1_ender's op~ion, either to restotation or repair o[ tbe Propeny or to the sums secured hy this Mortgagc. TJnless Lender and Bo~rowe~ olherwiu agree in a~riting. any such application of pmcecds to principal shall not exte~d or poslpone thc due date ot tlx monthly installme~ts referred to in paragraphs I and 2 hereof or change the amount o[ such iostallments. lo. Sorrowe~ Not Rekased. Extension of the timc for payment or modification of amortization of the sums socurcd by this Mortgage granted by I.ender to any auccecsor in interest of Borrower shall not ope•ate to release. in any manner. the liability of the original Borrower and Borrower i successors in intercst. Lender shall not be rtquircd to commence proceedings against such successor or rcfuce to e~teod time br payment or otherwise modify amortizat~on ef the s~~ms ucured by this Mortgage by rcason o( any demand made by the oriqinal BorroM•er and Borrower's successors in interest. 11. Forbearance by Lender Not a Waiver. Any forhearance by I.ender in exercising any right or rcmedy hereund~r, or otherwise afforded by applicable law_ shall not be a waiver of or preclude the exercix of any such right or remedy. The procuremtnt of insurance or the payment of taxes or other liens or charges by I_ender shall not be a waiver of Lender's right to accelerate the maturity of the ind~htedness cecurcd hy this Mortgage. 12. Ren~edks Comuiati~e. All rcmedies pravided in ~this Mortgage arc distinct and cumulative to any other right or rcmedy under this Mortgage or affordcd hy law or equity, and may be exercised concurrcntly, independently or successively. ' 13. Seccea~ors aad Assi~~s Eoond: Jdal sad Serertl f.iaMlity; Csptloas. The covenants and agreements herein contained shall bind, and the riRhts hcreunder shalt inur~ to. the respective successors and assigns of Lender ~t~d Borrower. subjoct to the provisions of paraRraph 17 hercof. All covenants and agrcements of Borrower shall be joiry and several. The captions~ and headings oF the paragraphc of ~his Mortgage are for convenicnce only and ue not to be used to interprct or de6ne the provisions hereof. . 14. Notke. Except tor any notice required under applicable law to be given in another manner, (a) any notict to Borrower p~ovided tor in this Mortga¢e shall be given by mailing such notice by certifled mail addressed to Borrower at the Property Address or at such o~her addresc as Bormwer may designate by no~ice to I.ender as provided herein, and (b) any notice to Lender shall he given by certified mait. rcturn rcceipt rcquested. ro I.ender s address stated hercin or to j such other address as Leoder may desienate by nMice t~ Borrower u provided herein. Any notice provided for in this ~ Mortgage shall be deemed to have been grven to Borrower or Lender when given m the manner designated herein. ~ lS. Ueiforw~ MoK~a~e: Go~erni~ Ls..; Sererabilify. This form of mortgage combir?a uniform covenants for ~ational i ux and non-uniform covenants with IimiteJ variations by jorisdiction to constitute a uniform security instrument rnve~ng real property. This Mortgage shall be governed hy the law of the jurisdiction in which the Property is located. in the f event that any provision or clause of thic Mortgage or the Note conflicts with applicabk law, such conflict shall not affect ; other provisions of this Mortgage or the Note which can be given eQect without the conflicting Provicion, and to this ; end the provisions of ~he Mortgage and the Note are declared to be severable. ~ 1f, eorrowePs Copy. Borrower shalf bc furniched a contormed cop~~ of the Note and of this Mortgage at the time E ` of execution or aRer recordation hereof. ~ 17. .Tra~der of tbe hoperty: Assumption. If alt or any pan of the Property or an inter~st thercin is sold or tnnsfened ~ by Borrower without Lender's prior writ~cn consent. excluding (al the crcation of a lien or encumbrance subordinate to ~ this Mortgagt, (b) the crcat~on of a purchace money cecurity interest for household appliances, fc) a transfer by devise. descent or by operation of law upon the death of a jo~nt tenant or (d) the grant of any leasehold intercst of threc ycars or less ~ not containing an option to purchase. Lender may. a~ Lendtr's option, dcclare all the sums securcd by this Mortgage to be immediately due and payabte. Lender shall have M•a~ved such option to accelerate if, priot to the cale or transfer. Lender ~ and the person to whom the Proper~y ic ta be colJ or transferrcd reach agreement in writins that the credit of cuch per~on ~ is satisfactory to Lender and that the intcrc~~ payable on the sums secured by this Mortgage shall be at such rate ac Lender N ~ shall request. If Lender has waived the option to accderate provided in this paragraph 17, and if Borrower's successor ~n ~ interat hu exceuted a written usump~ion agretment accepted in writing by Lender, Lender shall ydease Borrower from all oblj~stions under this Mortgage and the Note. ~ if Lender exercises such option to acce{erote. Lender ch~ll mail Borrower notice of ucekntion in accordanc~ w•~~h ~ puajraph 14 heroof. Such notice shall provide a period ~f not less than 30 days from the date the notice is mailed within ~ which Borrower may pay tF?e sums declared due. If Borrower tails to pay s~Kh sums prior to the expintion ot such pcrie~d. ~ Lender may, without further notice or demand on Borrower. invoke any remedia permitted by parasraph 18 herrnf. ~ Not+-Ut+~FORnt CoveruxTS. Borrowtr and lender funher covenant and aaree as follo~vs: 2 li. Aeeelentb~: Rea~cdia. E=cept a~ prorfded i~ Y~nL~p6 17 bereot. Ro~ ~or*o~?er's b~eaeti ot My co~ew~t er - a~ree~t ot eorrower i~ tWs Mortsa~c, l~chtdi~ tbe co~exswts to p~y wAe~ a~t aay as~ see~~ dy N~it Mai~~e. I.esder ~ prior M aceeitAtlo~ sMa/ oaN wotlce to sorrower as froridcd le pua~rap~ 14 Mereot spccMl'i~Ls (1) tre bescM:/21 tl~t sttbw ~ rq~ b ttre wc~ bnscr: (3) ~ datq wot la~ traw 30 days tru~ tbe date tUt ~otkt i~ ~8ea to ferrower. b!' wAk1 src~ ~Y ~~M bt lfftd'i ~d ~4~ fM~ ~IIYR f0 t~f! fKI1 bftf[` O~ Or Wae tMe date of tl~e h+n1 7Uc ~otke , aeceleratio~ ot t~e w~ iecrred by t~k Mo~a~e. to.ec~o~ure b h~ N'~~~ , ~ sl~ trrtlier hton~ ~orrower ol tMe ~M to reiasbtc atter ~ccekrMbs asd tUe ~Mt to awcrt h tbc foreclosrre /roceeal¦~ 4 1!e ~o~-e:Ws~ee ot a aeta~lt or awr dher dcfcase oI Sonower to sccekratbw u~ toreebwte. H the breacw is ~ot csea~ ow or De~ore tMe aNe s'etNld h tMe ~oticc. Lender a~ l.endcr's o*tioe ~ dcclare ar o~ tre w~s ~ennd by tW MatRal~e b be i~~~' dre awi pyabk witrort t~rtbcr dtmand aad nay tottitlose tbi~ Ma1i~e ~ j~iCh1 N~ceed~R. I.ende? ~Aall be e~dtled to co~ecl iw s~ proeesdia~ aM e:reoses of foreclosrre. isclndi~. brt ~ot Wdtei /a. rearow~ble stt~,reev's fees. a~i ea4 ot ioc~~eMarp e.ide~ce. abstr~cts s~d Ii1k rcprls. ~ i~, Mn~owp'~ R~~I te Rei~tate. NMwithctandinE Lender s accekntan of the sums secutsd by th~s M~rtsa~e. Borrower ihall have the right to have any proceedings he~tun hy ~ender to enforce this MongaEe discontinued at any time ~ - ~ ~ gOCK~JV~ ~11CE V~a7 ~ ~ - - - - - - - - , _ , ,