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Home My WebLink About0193 . ~ Lenda i written agreement or applicable law. Borrovrer shall pay the amount of all mortgage insurance prcmiums in the manner provided under paragnph 2 hereof. . A~y amounts disbur:ed by Lender punuant to thu parag~aph 7, weth intercst thereon, shall become additional i~debtedneu of Bonower secueed by ihis Moctgage. Unltss Bonower and LenJe~ agroe to othe~ te~ms of payment, such ~ amounts shall be payable upon notice from Lender to Borrowe~ roquesting payment thereof, aod shall bear intercst from the ~ date of disbursement at the rate payabk from time to time on ountanding principal u~der the Note unless psyment ot interest at such mte would be cont~ary to applicabk law, in which event such amou~ta shal) bea~ interest at the highest nte permiuible under applicable law. Nothing co~tained in this paragnph 7 shall require Lender to incur any expense or take any action hereuader. 8. iaspectba Lende~ may make or cauu to be made reasonable entries upon and inspections of tha Property. provided that i.ender shall give Borrower notice prior to any wch inspection specifying reasonable cause therefor related to Lender'a interest in the Propetty. 9. Coademaation. Thq p of sny award or claim for damages, dirccl or co~sequential, in connection with any condemnation or other taking of t~he pe~ty, or part thereof, or for conveyance in lieu of condemnation, wre hereby assigned and shall be paid to Lender. I~ the event of a total taking of th~ Property. the proceeds shatl be applied to the sums secured by this Mortgage. with the excess, if a~y, paid to Borrower. in the event of a partial taking of the Property. unless Borrower and i.ender otherv?~ix agree in writi~g. there shall be applied to the sums securcd by this Mongage such proportio~ of the proaeds as is equal to that proportion wfiich the amount of the sums securcd by this Mortgage immediately prior to the dste of takiag bears to the fair muket value of the Property immediately prior to the date of taking, with the balance of the pmceeds ~ paid to Borrower. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor otfera to make an award or settle a claim for damages, Borrower fails to respond to.Lender within 30 days after the date such notice is f mailtd, Lender is authorized to collect and apply the proceeds, at Lender's option, either to ratoration or repair of the ~ Properry or to the sums secured by this Mortgage. ~ Unless Lendet and Borcower otherwise agtce in uriting, sny such appl':cat's~n of ~roceeds to princi~+al shall not extend or postpone the due date of the monthly installmcnts referred to in paragraphs 1 and 2 hereof or change the smount of ~ such installments. 10. Eorrower Nof Released. Etitension of the time for payment or modiflcation of amortization of the sums securcd . y by this Mortgage granted by Le~der to any successor in interest of Borrower shall not operate to rtlease, in any manner. the liability of the original Borrower and Borrower's successon in interat. Lender aha11 not be requind to commence proceedings against such successor or refuse to extend time for payment or othenvise modify amortitation of the sums secured b~• this Mortgage by reason of any demand made by the original Borrower and Borrower's successon in interest. ~ I1. Forbearaace br Lender Not a Wdver. Any forbearance by Lender in exercisiog any right or remedy hereunder, or othenvise afiord~d by applicable law, shall not be a waiver of or prcclude the exercise of any such right or _ remtdy. The procurement of insurance or the payment of taxes or other liens or cbarges by Lender shall not be a waiver of Lenders right to accelerate the maturiry of the indebtedness securcd by this Mortgage. - l2. Remediea ~unnhtt~e. All remedies provided in this Mortgage are distinct and cumulative to any other right or remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independentty or successively. 13. Seccessors and Asaiges Eoasd; Joini saa Several iiabi~ty; Captbns. The covenaots and agreements henin ~ contained shall bind, and the rights hereunder shall inure to, the cespective successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17 hereof. All covenants and agrcements of Bonower shall be joint and several. The captions and headings of the paragraphs of this Mortgage arc for convenience only and are not to be used to 6ztr~Y:ri rs ~F.^.t iht psoviseens hereef. ~ 14. NMice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided- for in ihis Mortgage shall be given by mailing such notice by certified mail addressed to Borcower at ; the Property Addreu or at such other address as Borrower may designate by notice to I_ender as provided hercin, and ( (b) any notice to Lender shall be given by certified mail. retum receipt requested, to I.ender s address stated herein or to ` such other address as I.ender may designate by notice to Borrower as provided hercin. Any notice provided for in this Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated heeein. ~ 1S. Uafforni Mo~tgage; Governi~ I.aw; Sererab0lty. 'il~is form of mortgage combina uniform covenants for national ; use and non-uniform covenants with limited variations by jurisdiction to constitutt a uniform security instrument covering t real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the j event that any provision or clause of this 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 effect without the conflicting provision, and to this ~ end the provisions of the Mortgage and the Note are declared to be severable. 16. Borrower'~ Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time ; of eaecution or afttr recordation hereof. - 17. Tipnsfer o[ t6e Property: Assumption. If all or any part of the Property or an interest therein is sold or transferred f by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to ~ this Mortgage. (b) the creation of a purchase money security interest for household appliances. (c) a transfer by devise, a ; descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or kss ~ not containing an option to purchase. Lender may, at Lender x option, declare all the sums secured by this Mortgage to be immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lender d and the person to whom the Proarty is to be sold or transferred reach agreement in writing that the credit of such person ~ ~ is satisfactory to Lender and that the interest payable on the sums s~curcd by this Mortgage shall be at soch rate as Lender ~ ~ shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in ~ interest has executed a written assumption agreement accepted in writing by Ixnder, Lender shall ydease Borrower from all obligations under this Mortgage and the Note. ~ If Lender exercises such option to accelerate. Lender shall mail Borrower notice of accderation in accordance with ~ paragraph 14 hereof_ Such notice shall provide a period of not less than 30 days from ihe date the notice is mailed within ; which Borrower may pay the sums declarcd due. If Borrow•er Fails to pay such sums prior to the eapiration of such period, ~ Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof. ~ ~ Nox-UrriFORUt Coverrerrrs. Borrower and Lender further covenant and agree as follows: 's = 18. Accekratbs; Remedia. Excepf as Provided ia ~raph 17 hereof, opon dorrower's breuh of aey co~eaaat er ~ agrcemewt of Bormwer in t6js Maigaae, ioclndie` the co~eoaMs to pay whcn dne aer soms tecored by thM Mortaa`e, i.eader - prbr to acceleratbe sbag mail aotice to Hocrower as provWed ia pan~rap6 14 rereof specffyi~s (1) tbe b~esc6: (2) tbe adioe ; rrqnired to eors sec6 6reacb; (3) a date, oot kss t~an 38 daps froie tbe date t6e eotke i~ ~ed to Eorrower, by wtiic6 socb ti breac6 mad be cared: and (4) tbat failure to cun snc6 breach oa or betore t6e date apeci8ed i~ tbe notlce mf raslt io accekntioo at ttie ~e~ iecored by t6is Mortaa6e. foKClowre by jo~cial proceedio~ md ~ale d tbe Property. 'ILe aotice ~ ; sbail fartber iaform Borrower ot We ri`6t to rei~h atter sccekntbs and tbe rftht b a~sert L ttie foreclowre procee~ t~e ooa-ezisteace ot s defaak or aoy otber defense of Eorrower to accekratba and fora~lowre. lf the breac~ i~ eot cmd os or betore t6e date specl8ed fa t6e noHee. Leader at I.ende~'s o~tlon may dectwre aH of tbe s~a~s scc~rcd by t6i~ Mort~s;e b be ~ immedhtdy dee and payabk witLuot fnrtber demsod sad may Eorecbre t6k Mort~Ke b~' ~dkW lroceedl~. Le~der s~ ; ~ be eatitkd to colkd la sucb proceedin~ a8 e~pema of forec{osors, includio`, but eot W~ited to. rea~owbie attorseys tea, ~ i ~od cosb of doeasentary erideece, abstracb aod tltk reporb. ~ ~ 19. 8orrowers Ri<6t to Reio~ate. Notwithstanding Lender's accderation of the sums secund by this Mortgage, ~ s- Bonower shall bave the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time ? ~ ~ ~ ~ ~ ~ ~ ~ ~0~ 193 t~ ~ . - - ..=,M ~ - ~ ~ . ~~,~a.,~ ~s . _ ,