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Home My WebLink About2591 / ! , I I end.•r's s.ntten rgrern+~ut ur applr:al,le law. IiUrrUNlr shall pa) the amran+t of all mortgage,. in,~l.fi{fie p~~miY4>S,A~ ~h~ .t manner pr.~srded under p:uagr:rph ~ hereof. :ins ;unuunts drshursecl by I enter pursuant try this paragraph 7. s+rth unerea Ihercun. shall become additi~airal in.l+•hrednrs of Brurus+er se.:ureJ hs this \lortgage pule„ Br,rr.~wrt .u+J 1 ender agree to other terms rf paynunt. such anuaunts shall tae payahlo up~rn nuti.e fmm 1 enact to Borros+rr re.lucsting p:+~ntent thereot.:utJ shall hear interest from ehc i Date of dishursemcnt :+t the rate parable fnam time to time un outstanding principal under the Note unless payment of intereu at such talc soul+l he contrary to applicable law, in which dent such amounts shall hear interest at the highest rate i permicsihle under applicable lass. Kc?thing contained in this paragraph 7 shall require I:cnder to incur any expense or take .rny -action hereunder. 8. inspection. I.enrler may m:,ke or cause to he made reasonable entries up.an and inspcctiuns of the Pmpcrty. provided that 1 enter shalt give &arrower notice prior to any such inspection specifying reasonable rauce therefor relate) to 1 ender's interest in the Property. ~iE i 9. Condemnation. The~ar8a~d~dat<?~ !m• award or claim tea damages. direct or crnsequentiat. in rnnnection with any condemnation or other taking of the Property, ur part thereof, ur for conveyance in lieu of crntdemnatiun. arc hereby assigned and shall l+c paid to Lender. In the event of a tc?tal taking of tit+: Property. the pnacce,is shall he applied to the sums secured by this 1lortgagc. with the excess, if any. paid to Bornawer. in the event of a partial taking of the Pmpcrt}•. unless Borrower and I.endcr .athcrwice agree in writing. them shall he applied to the sums secure) hr this I?1c,rteagc such pmpuJtion of the proceeds ac rs equal to that propr•niun which the amount of the sums secured by this `lortgage immediately prior era the date of taking hears to the fair market vah+e of the Property immediately prior to the .late of taking, with the balance of the proceeds paid to Borrower. if the Property is abandoned by Borrower. or if. after notice by I .ender to Bormw•er that the condemnor offsrs to make an award or settle a claim for damages. Borrower fails to respond tea Lender within ?0 days after the date such notice is mailed. Lender is authorized to rnllect and apply the proceeds. at Lender's option. either to restoration or repair of the Property or to the sums secured by this \lortgage. Unless I.endcr and Borrower otherwise agree in writine. am• su:h application of proceeds to principal shall not extend ur prxtpone the due date of the monthh• inst:+ilments referred tr in p:+raer;+phs 1 and hereof ar change the amount of wch installments. 10. Borrower Not Released. Extension of the time for pasment or modification of amortization of the arms secured M• this ]lforegagc grants) by Lender b• anv successor in interest of Borrower shall not operate to release, in any manner. the liahili~s' of the original Borrower and Borrower's succescurc in interest. Lender shall not he required to commence proceedings against such arccessur or refuse ?o extent time for payment or othcr+sise modify amortization of the some sr:ured by this Mortgage M• reason of am• dema~ul made hr the urieinal Bornawer and Bornasscrs atccessurs in intercct. 11. Forbearance by Ixnder !~M a R'ai.~er. Anc fr,rlaear,+nce M• 1 ender in excrcisine am• right or rcmedv hereunder. or otherw•ix afiurded h}~ applicable law. shat! not ix a w•:+is•er of ur preclude the exercise cat any such rieht ur remedy. The procurement of insurance or the payment of taxes or ether liens or chareec by Lender .hall not he a waiver caf 1 ender's right a. accelerate the maturity of the indehtednecc ,tarred M +his !lfortgaee. 12. Remedies Cumulative. All remedies pna~ided in thi, \fortgagc are distinct and cumulative to any other right or remedy under this Mortgai~e or atTorded hr law or eyuity.:+nJ niay he eserciced concurrently. independenth• or succescis•els•. 13. Succecsorc and :kcci{;ns Bound: Joint and Se+cral l.iahilih: Captions. The ccavenants and agreements herein contained shall hinri..u+d the rights hereunder shall inure to. the re,pectise successuus and assigns of Lender and Borrower, subject to the prnci:ions of paragraph 17 hereof. All cos~e;+..nts ant aereemcnts of Burrower shall he joint and several. The captions :utd hemlines of the paragraphs caf this Mortgage arc for com•enience ranh• and are not to Ixe used to interpret ur define the provisions hereof. 14. \olice. Except fr+r arse notice reyuired under applir.+hle law to he given m another manner. fat am• notice to Borrower provided fur in this Mortgaee shall be given by maili:+i such notice hs• certified mail addressed to Borrower at the Property Address or at such other address ac B.arrrawer may de,fen:rtr hs• maiee to I enter as pnn~ided herein, and Ih? an. Holier !0 1 ender ,hall 1>< a:ivrn hs' certifir.l mail. return r~cript reuc:rsted. to 1 ender'c address stated herein ur to such other address :+s 1 ender mas designate hs nrtire !u Borrrwer ac providedt herein. :1nv notice provide.( fur in this ~lortgagr shall FM: deemed to h:nc Mien eisrn as Borrower or I enter when risen in the manner desienatcd hrrcin. I5. l;niform ~Urrtea>;e: Governing Law: Se+erabilih. -this f~~rm ,af morteaee combines uniform covenants for national ucc and nun-uniform coscnants with limireJ :.+riationc by iurisdirtion tr ccanctiurtr a unifornt se:urity instnmtcnt cos•enng real propene. Thi, Mortgage shall tae governed by the law of the jurisdiction in which the Property is Ira+ated. In the ~ event that am provisi.m or clause of Ihic ~lortcake or the \otr contlirr with applicable law. snch conflict sh:+11 not affect ~ other pn?cisions of thi, Mortgage or the \rte which c:u+ hr given eifr:t s+i!hoert the con;li:line provision. and to this t end the pnn~isions of the Mcartgacr and the \utr arc ,lest..red tr he severable. 16. Borrowers Cop+. Borrus+er shall he furnished .r ~_onfrrmcd .cps of the tiote and of this Martgaee at the time of execution or after recordation hereof. 17. Trrnsfer of the Property; Assumption. if all or :u,s part of the Property or an interest therein is sold gar transferred h}• Borrower without Lender's prior written cur,sent. escluaing fat the creation of a lien or encumbrance suhurJinate to this Mortgage. Ihl the creatwn of a purchau nuanev security rntrrrst for household appliances. Icl a transfer by devise. i descent rr hs• operation of law upon the death of .r ioint tenant rr tdr the tram of :roc leasehr.ld interest of three scars or less nut containing an caption A, purchase. 1 ender m:n. at I ender'. option. derlarc aft the sums secured by this Mortgage to hC rmmediateh• due and payable. Linder sharp have ~+arsed ~n,h option to acrrler.+te if. Heine t.• the sale ur transfer. Lender arse! the pera,n to w•horn the Pnaperty is t.a he srld ur trsmferred rra:h agreement in writing that the credit of such person is satisfactun~ to I.enJer and that the intcrest p:+~:+hle ran the sums secured by this \lortgage shall lac at such rate as Lender shall reyoest. If lender has waited the aptirn to accelerrte provided in this paragraph 17. and if Borrower's successor in interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Burrower from alt obligations under this I?tortgagc and the Note. If lender exercises such option to accelerate. 1 ender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. Such notice shall provide a perin.l nl nut less than ?fl days front the date the notice is mailed within which Burruw~cr may pas the sums declared dire. If Bnrnawer (:tits to pas' such sums pneir to the expiration rat such period. Lender mac. without further notice or demand c,n Burrower. mvol.e am remedies permrtte;l hs• paragraph 1R hereof. No!v-UNIFORM COYENI`TS. Borrower and Lender further covenant and agree as follows: 18. Acceleration; Remedies. Except as pro~•ided in paragraph 17 hereof, upon Borrower's breach of any covenant or - agreement of Borrower in this 3tortga8e, including the cosenants to pay when due any sums secured by this Mortgage, Lender prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the action required to cure such breach; (3) a date. not less than 30 days fmm the date the notice is mailed to Borrower. by which such _ breach must be cured; and (4) that failure to cure such breach on or before the date specified in the notice may result in acceleration of the sums secured by this lortgage, foreclosure by judicial proceeding and sale of the Property. The notice shall further inform Borrower of the right to reinstate after sccelention and the right to assert in the foreclosure proceeding the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the breach is not cared on or before the date specified in the notice. (.ender at Lender's option may declare all of the sums secured by this Mortgage to be immediately due and payable without further demand and may foreclose this Mortgage by judicial proceeding. Lender shall be entitled to collect in such proceeding all expenses of foreclosure. including, but not limited to, reasonable attorney's fees. and costs of documentary evidence. abstracts and title reports. 19. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secure) by this Mortgage. Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time ~3 i gcorY ~4 ~~c~~5~ _ _ - - r -