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Home My WebLink About0031 l.ender i written agrcement or applicabk law. BoROwer shall pay the amount of ali mo?tgage insurance prcmiums in Uie ma~ner provideJ under parag~aph 2 hereot. Any amounts Jistxirseci by I.e~der pursuanl to thu paragnph 7, wi~h intercsl therecm, shall become additional indebtedness of Bor~~iwer securcd by Ihis Mongage. Unless 8orrow•er and l.e~~kr agree to other tern?s ot payment~ such amounts shal) tx payahlc upon n~~1Ke from I.ende~ ta Bor~ower rcques~ing paymcnt thereot, and chall bear inlercst trarl the date ot disbursement at the rate payable trom time to lime on out:tanding principol u~der the Note unless pa'ymeat ot intercst at such rate wc~uld t~e contnry ~o applicable law, in which event such amounts shall hear interest at the hiahest nte perntiuibk under applicabk law. Nolhing contained in this paragraph 7 shall require I.ender to incur ar~y expeme or t~]te aoy action hercunder. S. I~spectio~. l.ender may make or cause to !+e made reacooable entriec u~n and iospeclions of the Property. providod that t.ender shall give Borrowe~ notice pri~r to any such inspeclion speci(ying rcasonabk cause Iherefor related to l.p~der's inte~est in the Property_ • 9. Coademaatbn. 'fhe proceedc of any award a~ claim far damaqes, dircct or consequenlial, in connection with any condemnation or other taking of the Property, or part tAereof, o~ tor conveyance in lieu ot coodemnation, arc hereby sssianod and shall be paid to l.ender. , ln ~he event of a total taking of the P~openy. Ihe proce~ds chall tx applied to ihe sums secured by Ihis Mart~age. with the excess, if any, paid to Borrower. In the event of a par~ial taking ot the Property, unless Bomnwer and I.eoder o~herwise agrce in writing. therc shall be applied to the ~ums securcd by this Mongage such proportion of the prooeeds as is equal to that proportion w•hich the ama~n~ ~he sumc cecured by this Mart6a~te immediately prior to the date of taking bears to the tair market value of the Property immediately prior ta the dato of taking, with the balance oE the procoeds paid to Borrower. If the Property is al~andoneJ by Bor:ower, or if. af~er notice by l.ender to Borcower that the condemnor oRen to malte an award cx xttle a claim for damages. Borrower fail. to rec~ond to t.en~er within 30 days after ~the date such notice is mailed. Lender ic authorized lo collecl and apply the proceeds, at I.ender's option, either to restontion or repair of thE ~ropeny or to the sumc cccured by ~his Mortgalte. . Unless l.ender and Bor~ower othenvice agree in writing, any such application of proceeds to principa) shall not exteed or postpone the due da~e of the monthly installments rcferred to in paragraphs 1 and 2 hercof o~ change the amount of ~uch inslallments. ~ 10. EoROwer Not Rele~ed. Extension of the lime for payment or modification of amoniiation of the sums secured by this Mortgage granted by I_ender ta any auccecsor in interest of Borrower shall not operate to rclease, in any manner, the liab:li~y of the original Borrower and &?rrawer e successon io interest. I_ender shall not be requircd to commence - proceedings against such successor or refuce to ertend time for payment or otherwix madify amortization of the sums secured by this Morigage by rcason of any demand made by the oriqinal Borrower and Bonower's successors in intercst. 11. Rorbearance by Lender Not a Wsive~. Any forbearance by i_ender in ezercising any right or rcmedy hercunder, or othenvise afforded by applicable law. shall not t~e a waiver of or preclude the exerciu of any such rigfit or rernody. The procurement of insurance or the payment of taies or other liens or charges by Lende~ shal) not tx a waiver of LendePs right to accclerate the maturity of the indehtcdness securcd hy this Mortgage. l2. Ren~ CamolaHn. I~?II. rcmedies pravided in this Mortgage arc distinct and cumulative to any other right or rcmedy under this MortRage or afCorded by law or equily, and may be exercised concurrcntly. independently or successivety. ~ 13• Srcee~sors aad Assi~~s Eouwd; Jdnt a~d Severd f.iaM'Iiry; Csptlo~. The covena~ts and agreements hettiin contained shall bind, and the riRhts hereunder shall inur~ to. the rcspective successon and assigns of Lender apd Borrower. subject to the provisionx of paragraph 17 hereof. All covenants and agrcements of Borrower shall lx jary and sevenl. The captions~ and headings of the paragraphc of this Mortgage arc for convenience only and are not ta t3e used to interprct or define the provisions herrnf. 14. Notke. Except for any notice rcquired under applicabk law to be given in another manner, (a) any notice to Borrower p~ovided for in this Mortga¢e shall be given by mailing such notice by certifled mail addressed to Borrower at the Property Addrcss or at such other address as Borrower mav designat~ by notice to T.ender as provided hercin, and (b) any notice to Lender shall he given by certified mail, return teceipt rcquested. to [.ender's address stated hercin or to such other address as Lender may decignate by rx?tice to Bormwer u provided hercin. Any natice provided for in this Mortgage shall be deemed to have been given !0 8c?rrower or Lender when given in the manner desiansted herein. 1S. Uaifore~ Moii~e; Go~ernln~ I,aw; Severab~lity. This form of mortgage combina ~iform covenants for nationsl use and rwn-uniform covenams with limited variations hy jorisdiction to corutitute a unifotm security instrument covering ; r+eal properly_ This Mortgage shall be governed by the law of the jurisdiction in which the Prop~rty is located. In the event that any provision or cluise of thic Mortgage or ~he Note conflicts with applicabk law, such conflict shall not affect wher provisions of this Mongage or the Note which can be given e~ect without the conflicting provision, and to this ~ end the provisions of the Mortgage and the Note are Jeclared to be severable. 16. sorrower's Copy. Borrower shall be furnished a conformed cop~• of the Note and of this Mortgage at the time s of execution or after rccordation hereof. E 17. .Trsdte~ of tl~e Pr~operty; Assnmption. 1f alI o~ any part of ~he Property or an intercst therein is sold or tnnsferrcd by Bortower without I.ender's prior writtcn consent. excluding (al the creation of a lien or encumbnnct subordinate to ~ this Mortgagt. (b) the creat~cx~ of a purcha~e money ~ecurity interest for household appliances, (c) a ~ransfer hv devise, ` dacent or by operation of law upon the death o( a joint tenant or (dl the gnnt of any kasehold intercst of threc ycars or kss ~ not containing an option. to purchax, Lender may, a~ Lender'c option, declare all the sums securcd by this Mortgage to be ~ immediately due and payable. Lender shall h~ve w•aived uich option to accelente if, prior to the sak or transfer. Lender R and the p2rson to whom the Property ic t~~ be co1J or transferrcd rcach agrcement in writing that the credit of cuch percon ~ is satisfactory to Lender and that the interr.t payable on the sums secured by this Mortgage shall be at si~ch rate ac Lender shall request. if Lender has waived the option to accelerate provided in this paragraph 17, and if $orrower's succasor in interut has exceuted a written usump~ion agreement accepted in writing by Lender. Lender shall rclease Borrower from all ' ~ obli~ations under this Mortgage and the Nota ' - if Ltnder exercixs such option to accelerate. Lender shall mail Borrower notice ~f accelen~ion in accordanc~ a•~~h ' puajraph 14 hereof. Such no~ice shall provide a period ~f not las than 30 days from the date the notice is mailed within ; whieh Borrower may pay the sums declared due. I( Borrower fails to pay such sums prior to the expintion of cuch peric~d, ~ Lender may, without further notice or demand on Borrower. invoke any remedia permitted by panEraph 1R hereof. ~ . _ Nar~-U[v~FORM CovetvervTS. Borm~wer and Lender further corenant and aeree u follo~vs: li. Aceelt~sHo~; Rewedies. E:cep a~ provWca ia pnKrapb 17 ber~o/. opo~ fon+~wer's brrac~ ot a~y eo~e~t er ~ a~reewe~t ot dotrower ~ tris Mortaa`e. i~eh~di~ the co•es~Ms to psy whew ~re ay ss~os seeirei h tU~ Mo~a~e. I.ewaer peior to acceleratloa s~aY eail ~otlce to Sonowt~ as ~orlded iw p~~rspl~ 14 ~ereo[ speeK~: (1) tie MeacM: (2) tAe setio~ ~ rq~he~ to cro s~c~ 6rescr: (3) ~ dre. wot les tYa~ 30 dsrs iros~ the ~ate tbe ~otice r~aNe~ to io~rower. b7' aMkr srcli - breac~ ~rt be csred; a~d t4) thst faN~re to crre s~cw M~esc~ o~ or letas the date s'eeYcd b tUe ~otice a~sr radl i~ scceleratle~ at t~e ~ iec~ed by tbi. Mo~aRe. to.scbs~.e b i~w M'~~rt a~i de ot rre h~operry. '1uc .ociee ; .a.r ~ ~ra. ~..a at aK ~w ~o r~ .~...a ek ~b ...~rt nk r~ ~ . " tre ~-s:Mewce of a ~ets~lt or a~y dMer defcase ot dorrower to ~cceleratiow ssi forecbwnc. /t tre breaeM is iot cr~ a~ e ~ or 6e%re the dMe s~eciiei b tl~e soHce. Lewder at i.ender's opb~ ~ declare a~ ot tMe w~ secsred br tAb Mort~e /s be s i~~ttely dne awi pyabie wkbtt t~riber demand aad msr tatclort tl~ Motifa~e ~ jndkW pottedf~- Lender ~Ad1 ~ be e~tltled to edkct i~ s~e~ ~oecedi~ a~ e:peases of foreclostre. b~cbdi~. brt ~ot Wwite~ to. reaw~abit stt~xner's fees. a~d oosls ot docr.-~ntarr e~We~ee. abslrscb a~ ~i~k reprb. ~ 19. io~t~owe~'s RkYt te Reirtate. Nc+twithctandinE Lender s sccekrotion of the sums securtd by th~~ Monsase, ~ Borrower shall have the right to have any ptoceedings hegun hy Lender to entorce this Mongase discontinued at any time # £ ~ = GG ; ~::~~305:.~_ 3~ ;