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Home My WebLink About0465 Lende~'s writteo agrecme~t or applicabk law. BoROwe~ shall pay the amount ot all mortgage insurance premiums in tAe ~ manner provided under paragnph 2 heroof. Any amounts disbursed by I.ende~ pursuant to this paragraph 7, with interest thereon, shall become additional inJeb~edness ot Borrower securcd by this Mongage. Unkss Borrower and l.ender agree to othe~ terms of payment. such amounts shall be payabk upo~ ncNice from I.ende~ to Borrawer rcquesting payment thercof, and shall bear interwt from the date of disbursement at the rate payahk from time to time on outstanding principal under the Note unkss pa}?ment ot interest at such rate wou1J 1+e contrary ta applicabk law, in which event cuch amounts shall bear interest at the hiahest rate permissibk under applicabk law. Nolhing comained in this para~nph 7 shall require I.ende~ to incur any expetae or tate ~ any action hereunder. S. l~spectiow. i.ende~ may make or cause to be made rcasonsbk enlriec upon and inspections of the Property, providtd that ~ender shall give Borrower notice p~ior to any s~~ch i~spectio~ specitying reasonable caux therefor rclated to I.a~der's interest in the Property. ' 9. Condeiunstion. The p~oceeds of any award o~ claim for damaga, dircct or consequeatial, in connection with any ; condemnation or other taking of the Property, or part thereof, cx tor conveyaoce in lieu of condemnation, arc hereby assianed and shall be paid to l~nder. , In Ihe event of a tata) taking of the Praperty. Ihe proceeds chall be applicd to the sums securcd by this Mortaaae. i with the excess, if any, paid to Borrowe~. In the cvent ot a partial taking at the Propeny, un{ess Borrower and I.teder otherwise agree in writing, therc shall be applied to the sums secured by this Mongage such proportion of the prooeeds t u is equal to that proportion vrhich the amount of ~he sumc ucured by this Mortgage immediately prior to the date ot Iaking bean to the fair market vatue of the Property immediately prior ta the datc ot taRing, with the balance of the proceeds paid to R~rrower. If tht Pfoperty is abandoned by Bor:ower, or it. afler notice by l.ender to Borrawer that the tondemnor ol[e~s to malc~ ao awa:d or stttle a claim for d~mages. Ac~rrower tail~ to respond ta 1_ende~ within 30 days after the date such notice is maikd. Lender is authorized to collect and apply ~he pracceds, at I.ender's option, either to restoration or repair of tbe ~ Proper~y or ta the sums sccured hy this Mortgatte. Unless Lender and Borrower c~therwice agrce in writing. any such application of proceeds to p~ncipal shalt not exta~d er postpone the due da~e of the monthly installments referred to in paragraphs 1 and 2 hercof or change the amount of such inslallments. 10. Eorrow~er Not Rekised. Extension of the ~ime for payment or modiflcation of amortiution of the sums secund by this Mortgage grantcd by I_ender to any cuccessor in interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower and 8c~rrowcr e succcssots in intercst. Lender chall not be requircd to comrt~ence proceediogs against such successor or rcfuse to exttnd time for payment or o~hervvise modify amortint~on of the sums secured by this Mortgage by rcason o( any demand made by the ori¢inal Borrower aod Borrowers wccessors in intercu. 11. Fotbarance by Lendtr Nof a Wdrer. Any f~rt~earance by I_ender in exercising any right or rtmedy hereunder. or otherwise affordod by applicabk law. shall nM be a waiver of or prcclude the exercise of any such right or remedy. ~ 'Il~e procurcment of insurance or the payment of taxa or other liens or charges by Lender shall not be a waiver of Leoder's ~ right to accelerate the maturiry of the indebtedness ceaircd hy this Mortgage. 12. Remedics Cemalattie. All rcmedies provided in this Mortgage arc distinct and cumulative to any other ri~ht or rcmedy under this Mortgage or afforded hy law or equity, and may be exercised concurrtntly. independently or successively. ' 13. S~cceaw~s aad Assi~~s Eoand; Joiat aa~ Several i3abAity; Captioos. The covenants and agreements herein contained shall bind, and the rights hereunder shall inur~ to. the.respective successors and assigns of i.ender a~d Borrower. subject to the provisionc of paragraph 17 he~eof. l~?II covenanti and agreements of Borrower shall be joiry and several. The captions' and headings of the paragraphs of this Mortgage arc for conveoience only and are not to lie u.ed to interprct or define the provisions herrnf. 14. Notiee. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower p~+uvided for in this Mortga¢e shall be given by mailing such notice by certifled mail addressed to Borrower ~t the Property Address or at such other address as Borrower may designate by ~otice to T.ender as provided herein, and (b) any notice to Lender shall he gireen hy certified mail. return receipt rcquuted. to Lender's address stated hercen or to such other addrcss u Lender may desiqnate by nc?tice to Bormwer as provided hercin. Any notice prnvided for in this , Mortgage shall be deemed to have be~n given to Borrower or Lender when given in the manner desianated herein. ; 1S. Uwifors~ MortRa~e: Go~eroio~ Law; SeverabilNy. This form of mortgage combina umiform covenants for national j use and rwn-unifortn cove~ants with limited variations by jurisdiction to constitute a uniform saurity instrument rnverina rcal property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is locattd_ In the ` evea~t that any provision or cla?ise of thic MoAgage or the Note conflicts with applicabk laa, such conflict shall not aRect ~ other provisions of Ihis Mortgage or the Note which can be given eQect without the conflicting provision, and to this 5 end the provisions of the Mongage and the Note are ~kclarcd to be stverable. p lf. son~ower's Copy. Borrower shall be furniched a conformed cop~~ of the Note and of this Mortgage at the time ~ of execution or after recordation hereof. 17. .Tra~sfer of tre Properfy: Assumptiow. if all or any part of the Propeny or an interest thercin is sold or tnosferred ~ by Boaower without Lender's prior writ~en conxnt. excluding (al the crcation of a lien or encumbnnce subordinate to - ~ this Mortgage. (b) the crcaticm of a purchace money cecurity interest for household appliances, (c) a transfer hy devise, ~ desoent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold intercst of threc ycars or kss ~ not containing an option to purchase. Lender may. a~ Lender's option, dularc all the sums xcurcd by ~his Mortgage to be ~ immediately due and payable. Lender shalt have w••rived such option to accelerate if, prior to the cak or t:ansfer. Lender ~ and the person to whom the Property ic ta be co1J or transferrcd rcach agreement in writing that the credit of cuch person ~ is satisfactory to Lender and that the interc.t payable on the sums secured by this Mortgage shall be at soch rate ac Lender ~ shall requat. if Lender has waivod the option to accelerate provided in this paragraph 1~, and if Borrower's successor in ~ interest hu executed a written assumption agreement acceptcd in writing by Le~der, Lender shall telease Borrower fram all ~ obli~ations under this Mortgage and the Note. ~ If Lende~ ezercises such option to accekrate. Lender shall mail Borrovrer notiee of accekration in accordancc w•ith ~ para,`nph 14 hereof. Such notice shall provide a period ~f not less than 30 days from the date the notice is mailed within which Borrower may pay the sums declared due. It Borrower fails ~o pay such s?~ms Prior to the eapintion of cuch peric~d, ~ Lender may, without further notice or demand on Borrower, invoke any remedia permitted by paragnph 18 hercc?f. Na+-Urn~oRM CoveNertTS. Borrower and Lender further covonant and asree u follow?s: ls. Aecd~*aNor Rewe~ks. Except r proviaed io panKrsph 17 I~ereot. ~o~ forro"a'~ brescA ot a~y co~e~t or ;x a~ree~eM of serrower h tbis Mort~a~e, helndf~ ttie co~eaaNs to pay wbc~ dre ~y ssa~s sec~ d!' t~ MoelRa~e. l.esier ; P~br !o ~eeekratio~ sraY wu~ eotke lo Eorro~?cr as'ro~Wed W p~ra~~pY 111~ereot ~peeitl'i~t (1) tUe b~eacY: f2) tbe aetlo~ re~+ed b cue a~ 6reaeM: (3) a dah. wot las duw 39 dars trow~ tbe iaRe tre ~otke i~ ~i to 1e~rower. !ry ~'AkM sirci 3 ~reael~ ~rt be e~re~ a~i (4) tUat faih~re /o nre wcw MeacM o~ or ~elae tbc dalt qeelAad i~ tie ~otice w~ay ~esYlf b , sceek*Mlo~ aE ~e nr ucwe~ bl' tMis Mo~a~e. te~eclosore b7 jodkW /roceedM~ aa~i s~le ot Ire Twpcrry. 71e ~otiee rla¦ f~rt~er iwtor~ forrower ot tre ri~M to refw~ate afler scceleratb~ a~ N~e ri~Mt b are~t b the forstlosrte ~eoes~~ ~ lie ~ore:Wt~ce d~ aetMk or a~y otl~er aefc~se ot Eorro..er to ~ceekrMtiow awi toreclowre. N tl~e brexf~ is ~ot cwe~ o~ I ~ or bdae the iMe s'ecNie,i i~ tMe wodce. Lender at [.esder•s o'tb~ ~ dcch~e s/ ot tl~e ww~ ucrnd by tbd Mo~t~al~e fs be witlwd tiutiu~ demana aad aay toretlott dd~ Maita~t b7' j~iicW le~d~R. Lender ~haN irwedidel~ doe a~i M7~ brt ~ot if~Nd b. reawwabk sta,rner's fees. ~ be ~ to eodeet 6~ s~ poeeeai~ d e:p~ses of toreclosr~e. bclndi~. % ~ a~i ads ot ioe~..-~eihr7 n'Wex~~ a~ titk reprb. , ~ 1~, ~p~~ N R~ate. NMwi~hsandinE Lender s acakntion of the sums secur=d by th~~ M~naa~e. ~ Borrower shsll have the right to hsve any proceed~ngs hegun hy Lender to entorce this Mortga~e discontinued at any qme ~ 3 3QGK Fai:: ~ ~