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Home My WebLink About1020 ~ • . . agreement or applicablt laM. BorroN•er shaU the amount o( all mortRage insurance premium. in the manner pro~ided ~ uuder paragnph 2 hereo[. Any amounts disbursecl b? l.cnde~ punuant to this paraRr~ph 7. witl~ interc.t the~con. .hall I~ecomc addi[io~~al i~- dcbteclnrss ot Borrower securecl by ~his \Iort~aKc. ~ Unlru Aurru~c~ and l.ender aRrre to other ierms payment, such amounts shall be payable u~~on nuti~e (~~>m l.ender to Borrawer reqursting paymrnt thcrru(, and til?all bcar interest [rom ~he ila~c ot d'ubursement at the ratc ~~a~able (rom time to timc uo ~utstandinR pri~ui~,al widrr thr \utr w~lcss ~,ayment ; o( inte~est at such rate would be cuntrary to applicable law. it~ wh~ch e~•cnt such amotmu ,hall t~ar inte~rst at thc hiRhest r.~tr ~xrmissible w~der applicable law. \othink coutained in this pa~agrapl? i sl~all require Lendrr to incur any expense or ~ take any action hereunder. • 8. Iaspection. Lender may make or cause to be made reasonable entries upon and iuspections o( the Property, pro ~ideel that Lender ahaU give Borrower notice prior :o any such iuspection specityiuR reaa~uai,le cauce there(or related to l.ender's intemst in the Property. ~ 9. Condemna[ioo. The proceeels o[ any award or claim (or damaRa, direct or con.equen[ial, in connection with any 1 condemnation ar other takinq of the Propert?•, or pa~t thereot, or tor conre?•ance in lieu o( co~~demnation, are hereby as- ~ .iRnecl and shall be paid to Lender. In the e~•ent of a total takinR o( the Property. the proceeds shall be applied to the su~ns securect b~ this \IortqaAe, ~ with the excess, if any, paid to BorroMer. ln the e~•ent ot a partial eaking o( the Pro~~rrt~•, unlcss Borrower and I.ender ' ~~therwise aRree in writing, there shall ix applieci to the sums secured by this \tortRaRe such proportion u( the procecds ~ a; is equal to that proportion which the amount of the sumx secured by this \IortkaRe immediateh• prior u~ the date of taking bean to the tair market value of the Property immediatel~ prior to the date ot takinR, with the baLurce of the pro- cecds paid to Borrower. If the Propertr is abandoned by Borrower, or if, ~fter notice by Lender to BorroMer that the condemnor offtrs to _ ~nake an award or settle a claim tor damages. Borrower fails to res~ud to l.ender within 30 da~~s a(ter the date such notice ; is mailetl, Lender is authorized to collect and apply the procecclx, at Lender'c option, eitl~et to restoration or repair o[ the - Propert~ or to the sums secured by this ~tortgage. Unless Lender and Borrower othen+ise agree in writing, an~~ such application o[ proceeels to princi~al shall not extend nr postpone tht due date of the monthly installments re[erred to in paraRraphs I and 2 hereoi or chan~e the amount o[ such installments. 10. Borrower hot Releaxd. Extension of the time for pa~~ment or modi[ication o( amorti~ation ot the sumc secured b~• this ~lortgage ~ranted b) Lender to anJ• successor in interest o[ BorroNer shall not operate to release, in am• maRner, tl~e liabilitc o( the oriRinal Borrower and Borro~.er's successor~ iu interest. Le~edrr 1haU not I~e requireei ~o commence prcxeectinRs ap,~ainst such suaessor or re(use to extend ~ime for payment or other~.ice mcxlih• amorti~ation ~~f the sums se- curcd b~• this ~tottqaRe b} reau~n o( am~ demand made b~• the ori~inal BorroNer and Rorro~.cr's wucsu~rs in interest. ~ l l. Forbearance by I.ender Not a Wai~er. :~nv fotbearance b~• I.ender in e~ere ising an}' right or remeei~• hereu~~der, or othen.ise afforded by applicable la~•, shall uot be a wai~•er ~~t or preclude the e~etciu• o( an} such riKht or remecic. The procurement ot insurance or the pa~~ment of taxes or other liens or charRes bc Lender sliall n~t Ix~ a~.•ai~er o( I.ender's riRht to accelerate the ma~urit~• of the indebtednetc secured b~• this \IortRage. 12. Remedies Cumului~e. :VI remrdics pm~idcci in this JlortRaRc are distinct and cumulati~c m anc other riRht or remeclv uncler this \tortJ{aqe or atfordect by law c,r ee~uitc, and ma~• br exercised concurrrnth~. inde~?ende~~th ~~r ~uccessi~~el~~. 13. Succestors and Assigns Bound; Joint and Several Liabilit~~; t:a~?tions. ~I~he cocenants and aKreements herein containecl shall bind, and the riRhts heret~nder ~h:~ll inure to, ~he respecti~•e .i~cce.w~rs and astiiKn~ o( Le~~der and AorroH~er. subject to the pro~•isions of ~~arap,raph 17 hereoL :~II cose~iann :u~d af{rcements ot Rorr~~H•er shall Im j~~iut :~ud se~eral. "I'he captiuns and headinqs o[ the parar{raphc ot this ~(ortRaRe are (or con~cuicncc nnl~~ and -rre not t~~ be u~cd to interpret or define the pr.~~•isions hereof. ; 19. ~otice. Except for any uotice requireci under applicable law to be Ri~•en in another manner. (a) am• notice to E BortoNer pro~•ided tor in this ~tortqaRe shall be Ri~•en b~ mailinR such uotice bc certified mail addresu~d to Borrower at ~ the Propert~• Address or at such other address as BorroNCr ma}• desiRnate b~• notice tr, l.ender as procided hereiu, and (b) anp notice to Lender shall be gicen b~~ certitieil mail, return receipt reyuesteci, to Lender's addrecs st:~ted hrrein or to ~uch other address as Lender map desiqnate b}• notice to Borrower ac pro~~ided herein. :\u. uo~ice pro~ided fur in ~his \(ortqaRe i shall be deemed co ha.~e been Ri~~en to Bonower or Lender ~chen qi~en in the mauner desiRnated herein. ~ 15. Uniform Mort~age; Go~erning L.aM; Se~erability. "I~his [orm o( mort~a~c ~nmbiuec uni(~~rm co~c~iants for na- r tional use and non-uniform co~~enanu N•ith limited ~ariationti b~~ juriuliction t~i comti~iue a uni(urni ~ecurit~ instrument ~ coceriuR real propert~•. Thit ~(ortRaRe shall t~e Ro~~erned b) tl~e IaN• o( the juriuiicti~~n in H•hich the Propert~ is lcxated. In the e~rnt thae any procisian or clause of this \IortKaRe or the ~ote conflict+~.•ith applic:il,le l:n.-. suih cnnflict shall uot 5 a((ect other pro~•isions of this \(~rtRaRe nr the \ote Mhich can Le ~i~~en effect ~vithout the conilictio~ pro~•icion. aud to ~ this end the pro~•isioas of the \Iort~aRe and thr ~ote are declared be se~~erable. ~ 16. Borrower's Copy. BorroMCr shall bc furnishcd a cnntormed c~p~• of the \nte and oE this ~IortRaRe at the time ~f execution or atter recordation hereof. ~ 17. Transfer oE tht Property: Assumption. IF all or an~• part ot the Pmpert~• or an interest ~herein i. sold or trans- ~ ferred M• Borrower Nithout Lender's prior ~+ritten consent, excludinR (a) the creation of a lien or rncumbrance subordinate to this ~(ortRaRe. (b) the creation of a purchax mone~• securitc intere.t for household appliances. (<1 a trantifer bc de.iu. ~ eiescent or b~• operation o( law• upon the death o( a joint tenant ~~r (di thr ~rant of anc leauh~ld intere~t n( three }'ears or ~ less not containinR an option to purchace. Lender may, at Lender's option. declare ail the sums seture~l 1»• thi, \(ortRaRe to ~ be immediately due and pa~•able. Lender shall ha~~e Nai~~ed such opti~n to accelerate i(, prior to the ~:~1~~ ~~r tran5[er. Lerder ~ and the person tn ~hom the Propert}~ is to bc x~ld or trans[errcd reach agreement in ~riting that the credit of such pcrson is satisfactor~~ to Lender aod that the interest pa.able nn the sums secured b~ this \fortKaRe s~~a? be at tuch rate as Lender shall request. If Lender has hai.•ed the option to accelerate pro~•idcd in thit paragraph li, and if Borro~.•cr's successor in ~ interest has executed a Mritten assumption aRreement acceptcd in ~critinp b~• Leuder. I.ender shall release Borrower irom ~ all obliqations under this ~tory;aRe and the 1ote. • ~ It I.ender exercises such option to accelerate. Lender shall mail Borrower notice ot acceleratinn in accordance M•ith s parar{raph 14 hereof. Such notice sha? pro~•ide a period of not lrsc than 3~1 da~-s (rom the date the n~ticr is mailed hithin - which Borrower ma~• pay the sums declared due. If BorroKer fail~ to pa~- such ~um~ pri~~r t~ the expiratir~n ~f wch period. Lender ma}•. without [urther noticr or demaud on BorroNer, incoke an}~ rerpedies permitteci b~• parat{raph i8 hereo(. ~ NON-LINIFOR~1 Co~~e:v~~-rs. Borrower and Lender turther co~•enant and aRree as (olloMS: ~ ~ * 18. Acceltration; Remedies Except as prov~ided in para~{raph 17 hereof, u~?on Borrower's brrach of am co~•enant or agreement o[ Borrower in this ~iortgage, induding the co~enants to pa~ w•hrn due am~ sums secared b~~ this ~Tort~{age. Lender prior to accdention shall mail notice to Borrower u procided in paragnph 14 hereo( s~?rcif}in~: (1) the breach; (2) tht action required to curt such breach; (3) a date, not less than 30 da}~s trom the date the notice is mailyd to Borrow•er, r - by which such breach must be cured; and (a) that [ailure to cure such breach on or before the date s~?eci[ied in the notice mav ~ result in acteleration of the sums secured b~ this Jfortgage, foreclowre by judicial pr~xeedinR and sale ot the Pro~xrn•. The notice ahall turther inform BorroMer of the right to rcinstate atter acceleration and the riRht to a~er~ in the foredosure ~ ~ proceeding the non-existence o( a default or an~ other defense o[ Borrower to acceleration and foreclosure. 1( the breach is ~ not tured on or before the date sFxcifiecl in the notice, Lender at Lender's option ma~ declare all of ~he sums xcur~d bv this : ~ Mortgagr to br immediately due and pa~~able without (urther demand and may toreclosr this AiortRaRe bv judicial proceed- .F ing. I.ender shall be entitled to colkcc in such prrxeedinR aU ecpenses of (oreclosure, including, but not limited to, rea.~on- ablt attorne}''s fees, and costs ot d~xumentarr e~.idence, abstracts and titk reports. = S'~'~±~~U~ ~AGf~~L_¦¦ ¢j ~V ~ ~ _ - ~'a,,.:.~...; . . . ~ ~ . .