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Home My WebLink About0816 Lender's w~itten agrcement or applicabk law. Borrower shaU pay the amount of all mortgage insurance prcmiums in the ma~~er provided unde~ paragnph 2 hereot. ' Any amounts disbursed by l.e~cier pursuant to thia paragraph 7, with interesl thereon, shall become additional ~ indebledness at Borrower secuoed by this Mongage. Unlesc Borrower anJ I.enJe~ agrce to othet temu of payment, such ~ amounts shall be payabk upcM nolicc fmm I.eoder to Borrowcr rcquesting paymeot thereof, and shall bea~ intercst frwn the datc of disburaeme~t st the rate payabk f~om time to time a~ an:tanding principal unde~ the Note unkss payma~t of interest at such rate would be contrary to applicabk law, in which event such amounts shall bear interest at the highest rate j pcrmissible under applicabk law. Nathing rnntaiaed in this paragraph 7 shall requirc Lcnder to incur any expense or talca ~ any action hereuadet. E. laspectio~. 1_ender may make or cauu to be madt reasonabk enlr'ies upo~ and inspections of the Property. provided that l.~nder shall give Horrower nMice prior to any such inspection specitying rrasonabk cause therofor rclated to Lender's interest in the Property. . ~ , . ; 9. Coodemuatbs. The proceedc oP any twatd or claim for damaga, direct or consequential, in connection with any = condemnation or other taking af th~ Property. or paK thereaf, or for ccurveyance in lieu of condemnation, are hercby assigned ~ and shall be paid to Lender. ` . In Ihe event of a total taking of• the Propehy, the proceecls chaQ be applied to the xums secured by thic Mortgage, ~ with the eccess, if any, paid to Bor~ower. ln the event of a partial taking uf ~he Property, unless Borrower and Lender ~ aherwise agree in writing. there shall be applied ro the cumc securcd by this Mortgage such proportion of the proceeds u is equal to that propoKion v?•hich Ihe amount oF the sumc secured by this Mortga~te immediately prior to the date of ~ taki~ bears to the fair market value of the Prapeny immediately prior to the date of taking, with the balaoce of the proceeds paid to Borrower. ± If the Property is at~andoneJ by Bor:owe~. or if. after notice by l.ende~ to Bormwer that the condemnor of[en to make ~ an award or settle a claim for damages. &.rmwer fail. to re+~nd to l.ender within 30 days after the date such notice is t mailed.. Len~ler is authorized to collect and apply !he prc?ceeds. at I.eoder c option, either to restoration or repair of the ~ Pmperty or Ic~ the sums secured by ~his Morlgaee. ~ Unlesc t.ender and Borrower othenvise agree in u•ritine. any ~uch application af prcueeds to p~incipal shall not extend + or postpdne the due date of the monthly installmcnts rcferred to in paragraphc 1 and 2 hereof or change the amount of such installments. i 10. dorrower Nof Rekased. Extencian of the time for payment or modification of amortization of the sums securcd i by this Mortgage granted by I.eneler to any ~uccecsc?r in interect of Borrow•er ~hall not ope•ate to release. in any manner, ' the liabilily of th~ original Borrower and Borrowr~ ~ succescc.rc in interest. Lender shal) not be required to commence ~ proceedings against such successor or refuce to er~end lime for payment or otherwice modify amortizat~on of ~hr •~~ms ~ secured hy this Martgage by reau?n of an~• demand made b~~ the oriQinal E3orrawer and Borrower s succecaors in imerect. ~ 11. Rorbearaace by Lender Not a Waiver. Am• f~rhearanrc h~~ Lcnder in erercising am• right or remedy hereunde~, or ° othetwise afforded by applicahle law. shall not t~e a waiver of or preclude the exercis~ of any such right~ or remedy. ' The procurement of insurance or the payment af tates or other liens or chargec by 1_ender shall not he a waiver of Ixnder's ~ right to accelerate the maturity of the indebtednecs cecurcd hy thic Mortgage. ? 12. Remedies Cnmulative. All~ remedies pmvided in thic Mortgage are distinct and cum~dative to any other right or ~ remedyunder this MortRage or afforded hy law or equiry. and may be exerciced rnncurrently. independently or successively. ~ 13. Socceswrs snd A~ns Bound:.)oint and Several i.iability; C.aptions. The covenants and agreements herein } contained shall bind, and the rights hercunder shall im~re to, the respective saccescors and astigns of I_ender ~d Borrower. ; subject to the ptovisionc of paragraph 17 hereoL All covenants anJ agreements of Borrower shall be joir~ and several. ~ The captions and headings of the para¢raphc of thia Mongage are for convenience only and are not to he used to ; E irnerpret ar define the provicionc hereof. - = 14. Notiee. Except [or any no~ice reyuired under applicable_ IaK to be given in another manner. (a) any notice to ` Borrower provided for in this Mortga¢e chall be given hy mailing such notice b)• certified mail addressed to Borm~ver at i the Properly Address or at such uthcr addres. as Bc.rmwcr mav designate by notic.e to i.ender as pmvidcd hercin. and ; (b) any notice to Lender shall be given hy certifieJ mail. return receipt requected. to l.ender c address stated herein or to < siich other address as I_ender may designate M' nMice to Bormwer as pro~•ided herein. Any notice pmvided for in this ~ Mortgage shall be deemed to havc t+een givco to Borrower or l.ender ~•hen given in the manner designated herein. ~ iS. Uniform MorlRa~e: Governin~ Ia~?; Se~erability. Thic form of mortgage combines uniform covenants for national ~ use and non-uniform cm•enantc with IimiteJ variationc h~• juri~liction to constitute a uniform security instrument covering } ~ real property. This Mortgage shall be governed h~• the law• of the jurisdiction in which the Property is located. tn the ~ ; event ~hat any provision or clause of thic Mortg:.ge ~~r the Note conflicte with applicahle law, such conflict sfiall not affect } ( other provisions of this Mortgage or the N~~te Nhinc ~an be given etTect without the conflicting provicion. and to this ; ~ end the provisions af ~hc Mortgagc and the '~?otr arc .Icrlared to he severable. 2 I6. Bor~ower's Copy. Borrow•er shall tx furni~hed a rnnformed rnp} of the Notc a~d of thic Mortgage at the time ~ E of execution or after recordation hereof. [ 17. Traasfer of the Propertv; Assumption. If all or an~~ pan of thc Pmperty or an interest therein is sold or traosferred ; by Borrower without Lender's prior writ~cn concent_ rxcluding (a? the creation of a lien or encumbranre sut?ordinate to ~ this Mortgage. Ibl the creahon of a rurch~cc m~~nr~• cecurit~• interest for hausehold appliances. (cl a trancfer h}~ devise. ~ descent or by operation of law• upon thc dcath ~~f a i~~int tenant or (d1 the grant of an}• leasehold interest of threc ~~cars ar less not containing an option to purchase. Cender may. at I.ender's option. declare all ~he sums secured by ~his Mortgage to t+e = ~ immediately due and payable. I.cnder chall have wai.•rd such option m accelerate if, prior to the ~ale or tranxfer. I.enJer ~ and the person to whom the Propert}• i~ tn F+r :oW c•r transterred rcach agreement in writing that the credi~ ~~f wch percon ~ ~ is s~tisfactory to I.enJer and that the imerr~t pa~able on the sums serured by thic Mortgage shall be at s~ech ra~e ac Lender ; ~ shall request. If l.ender has waivod the option to accelerate pmvided in this paragraph 17, and if Borrower'> >uccessor in : interest hac executed a written as.cumption agreement accepted in writing hy l.ender. Lender shall releau Borrower from all ~ obligaticx~s under this Mortgage and the NMe. } ~ If I.ender exercises soch option to acce{erate. Lender ~hall mail B~rrow•er notice af acceleration in accord:~nrc ~~h ~ paragraph 14 hereof. Such notice shall provide a pericxi rf not lesc than 30 dayc from the date the notice is mailed within t ~ which Bormµ•er may pay the sums declared due. If Borrower fails to pa~• soch sums prior to the expiration o( ~uch penod. ` Lender may, without further no~ice or demand on Borrower. invoke any remedies permit~ed hy paragraph IR hcreof. * NoN-UN~FOant CoveN~NTS. Borrower and Lender further covenant and agree as follows: ~ l8. Accekratlon; Remedks. Escep as pro~ided in pan~nph 17 hercof. upoa Eorrowe~'s brescb of sey corensnt or ~ a~reeatst of Borrower in t6is Mortgs~e. includi~ Ihe corenants to pay whea dae aay soms stcnred by th~ Morl~aRe. I.ender ~ prior lo accekntion sball mail notice to Borrower as provided in psragrapl~ 14 hereof specifyi~: (1) tbe breach: 12) the actan ~ = rtquired to core sncb 6rescb; (3) a date, aot le~ than 30 days from the dste the notice is miikd to ~orrower, by .rhich sucM . ' breach m~nt be enred; aod (4) thst failurt lo cnre snch breach oa or betore tbe date specified in the notice may rexult in ~ ~ scccleratios of t6e san~s secnred by this Mort~sge. forocfosure by judkial proceedin` and sale of the Property. The notice : t shall furtl~e~ inform dorrower of tbe ri~ht to reiashte aiter accekratbn and the right lo aaert in the foreclosure proceediu~ ~ tht nona:lstence of a defaok or any otl~er detence of Borrov?er to acceleratioa and foreclosure. It the brexb is not cur~ed oa ~ or betore the date speciGed ia t~e notice. I.ender ~t [.rnde~'s option may declare aU of tbe soms secnred by this Mortga~e b be immediatdy due aad payable withaut further demand and may foreclose thLs Mott~att by judicial proetedin~. i.ender chall y ~ be eatitled to coi1M in sucM proceedi~ sN e:penses of forcclosurc. includin~. b~t eot {imifed to. reasonaWc atturnc•r's fees. ~ ~ and costs of wic.:~oentary eridence. ab6trac~s and litk rcports. ~ 19. dorrowa's RiRbt to Reiaslate. Notwithctanding Lender s acceleration bf the sums securcd by th~~ M,~rtgage, ti ~ ~ Borrower shall have the right to have any proceedmg. he~un ~v l.cnder to enforce this Mortgaqe discontinued at any time ~ ~ ~ ~ ?~.i . ~ R ~O~ ~,~~J~ 8~~ ~~_r . - _ . . . _ . ~ ~ r~