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Home My WebLink About0822 a . Lender's writtea agrcement or applicabk kw. Botrower ~halj psy the amount ot ull mortgsge insuranoe prcmiums in the ~ maancr providod under paraaraph 2 hereot. ; ' Any amounts disbursed by Leodet purswnt to this paraanph 7. with interesl thereon. shall become additional inciebtodness of Borrower secutrd by this Mortgaae. Unksc Borrower and Lcnder asrce to Mher tcm~s of paymeo~ such ! amounts shall be payabk upa~ ~xNice f~om I.rnde~ to Borrower roquestina payment thereof, and shall bear intercst from the ~ date of disburxment at the rate payabk f~om time to time on outstandin~ priocipal unde~ the Note unkss payment ot { i~terat at wch nte would be contnry to applicabk law, in which event such amounts shall bear interest at the hiahest nte # permissibk under applicabk law. Ndhing contained in this pangraph 7 shall require i.ender to incu~ any expense or take ^ any action het~eundef. ' s. Iws~ettiew. ~.ende~ may make or cause to be madr rcasonabk e~tries upon aod inspections of the Property. pmv~ded # that l.ende~ shall 6ive Borrrnve~ ~x~tK~e pri~v Ip ~ny ntch inspection spocifying reuonabk cause thercfor relatod to Lendet's ~ interest in the Property. ~ ` . ' 9. Co~de~aliow. 'fl~e proceeds c~f any award or claim for damages. dircet or consequential, in eonnection with any t rnndemnation or dher taking of the Property. or paR thereof, or for ccmveyance in lieu of ca?demnatioo, are hereby assign~d , and s:ull be paid to i~nder. ~ in the event of a tot~l taking of the Propeny. the proceeds chall be applied to the sums ~ecurcd by this Ma~tgage, y with the excess, if any, paid to BoROwer. In thc event of a parti~l taking of the Property, un1Gss BoROwer and Le~der ~ otherwise agroe in writin~t. there shall be applied to ~he sums sec~ired by this Mortgage such prnpation of the proceods E as is oqual to that propotiion vrhich the amcx~nt of thc sumc seci~red by this Mortgage immediattly prior to the date of ; takina bears to the fair market value of the Propcny immediately prior to the date of taking, with the balance of the proceods paid to Bor~wer. ` if tbe Property is abandoned by Bor.ower. or if. after notice by I.ender to Bormwer that the condemnor otfen to malce ' an award or settk a claim for d~m~ges. &~rrower fails to res~,ond to l_ender within 30 days after the date such notice is ~ maikd. Lender ic authorized to collect aRd a~?plv ~he proceeds. at l.ender s option. either to restontion . or tcpair of the } ~ Proyerty or ,o ~he sums securcd b~~ this MongaLer_ ~ Unless l.tnder and Borrower othervvise agree in v?~riUnc. any such application of prex'eeds to principal shal) not extend ~ or postpone tht due date nf the monthly inslallmcros rcferred to in paragraphs 1 and 2 hercof or change the amount of ~ such installments. F - IA. Eo~ower Not Rekased. Extension of the time for payment or modification af amortization of the sums securcd by this Mortgage granted by I_etider to any cuccecsor in interest of Borrower chall not ope~ate to release, in any manner. the liabili~y of the original Borraw~er and Borrower'c soccesu~rc in interest. Lender shall not be requircd to rnmmence _ proceedings agai~t such successor or ref~~sc to ectend time for payment or othen+ise modify amortizat~on af thr ~ums securcd by this Morigage by rcascx~ of am drmand made b~• the ori¢inal Borrower and Bonowers successors in intcrcst. 11. Forbearance b~r i.ewder Not a Wai~•er. Any fofiearance hy t.cnder in erercising any right or rcmedy hereunder, or othervvise aBorded by applicabk law, shall ne?t be a waiver o( or preclude the exercise of anp such right or remedy. "i~e procurement of insurance or the payment of taxes or other liens or charges by I_ender shall not be a waiver of Lender's ~ right to aceelerate the maturity of the indeMednecs secured hy thic Mortgage. ~ li Reu~edies C~oalati~e. All remedies pro~•ided in this Mottgage are distinct and cumulative to any other right or remedy under this Mortgage or afforded h~• law or equity, and may be exercised concurrently, independently or successively. j ' 13. Srcce~ors a~d Assi~~s donnd; Joint aad Sereral i.i~b~7ity; Captlons. The covenants and agreemen:s herein ! contained shal) bind, and the rights hereunder shall inure to. ihe respectivt succecsors and assigns of Lender aod Borrower. subject to the provuionc of paragraph 17 hereof. All covenan~s and agreements of Borrower shall be joiry and ceveral. 'il~e captions and headings of the paraeraphc af thic Mortgage arc for convenience only and are not to be uced to interpret or define the provisions hereof. 14. Notiee. Exc~pt for any notire rcyuired under applicable law• to be given in another manner. (a) any notice to Borrower provided for in this Mortgaee shall tx given hy mailing such notice by certified mail addressed ta Borrower at the Property Address or at soch other ~ddre~. as Bormv?•er mav designate by no~ice to Lender as provided herein. and (b) any notice to Lender shall he gi~•~n by certificd mail_ rcturn receipt reque~ted. ro I.enders address stated herein or to ; such other address as Lender may de~ienate b~ n~tice to BormWer as provided herein_ Any notice provided for in this ~ Mortgage shall be deemed to ha~•c becn g~~•cn to Bc?rmwer or [_cnder when given in the manner designated herein. i 15. Unifo~ Mort~~e; Gorerni~ IaN: Se~~erability. Thic form of mortgage cc?mbines aniform covenants for national use and non-uniform covenants with IimiteJ variations h~~ jurixliction to constitute a uniform security instrument covering 'i rcal property- This Mortgage shall be governed hc the law of the jurisdiction in which the Property is located. In the i event that any provision or clauce of thic Mortgage or the Nate rnnflicts wi~h applicabk law, such conflict shall not affect ~ other provisions of this Mortgage or the N~?tr Nhich can be given efiect without the conflic~ing pmvision, and to this i end the provisions of Ihe Mortgage and the ~1c.te arc .kclared to be severable_ - ! 16. Eormwe~s Cop~. Borrower shall t+e (urni~heJ a confamxd cop}~ of the Note and of this Mortgage at the time ; of execution or after recordation herec~f. i 17. Traosfer of tYe Proptrtv; Aswmption. If all or am part of the Property or an interes! thercin ic sold or transferred : ~ by Borrower without Lender s prior writ~cn consent_ e~cluding (al the creation of a lien or encumbrance subordinate to k ~ this Mortgage. (b) the creahon of a perchace monr~• ~ecurit~~ interest for household appliances, (cl a transfer hy devise, _ descent or by operation of law upcx~ the dcath of a joint tenant or (d) the grant of any leasehold interest of threc ycars or less ` not containing an option to p~rchasa l.ender may. at l.ender'~ opticx~. declare all the sums secured by this Mortgage to be ' ~ immediately due and payable. Lender shall ha~c N;Il~~ed such option to accelerate if, prior to the sale or transfer. I_ender ~ and the person to whom the Praperty i~ t~~ be :~~W or trans[errcd reach agreement in writing that the credi~ of such per~on ; is satisfactory to I.ender and that the interr.t pa~~able on the sums secured by this Mortgage shall be at such rate ac I.ender - shall rcquesi. If l.ender has waived the option to acceterate provided in this paragraph 17, and if 8orrower's successor in ~ interest has executed a written assumPtion agreement accepted in writing by 1_ender, Lender shall releau Borrower from all ~ obligations under this Mortgage and the Nae. ' ~ If Lender exercises such option to accelerate. Lender ~hall mail Borrower notice of acceleration in accordancr H i~h paragraph t4 hercof. Such notice shall provide a pericx! of not lesc than 30 days from the date the notice is mailed within which Borrower may pay the sums declared due_ If Borrower fails to pay such sums prior to the expiration af ~uch peri~.d, . Lender may. without further notice or dcmand on t3orrower. invoke any remedies permitted by paragraph IR hercof. ~ No[v-Ut+~FORM Cover~~HTS. Borrower and Lender further covenant and agree as follows_ ; 18. Acceleratiw; Re~wedia. L:cept as provided WnM~~ap6 17 ~e~eo~~ ~r°wer's breacM of a~y covewaat or : ~ a6reea~t of Eotrower i~ tYis MortgaRe. iaciu&n~ tbe corenaats to p~y whe~ dre aoy soms secrrei br th[s Mort~a~e. Leader ` prior to accekratioe sbaU w~ail ~otice to Eomower zs provided io para6rapl~ 1~ hereof specifyi~: (1) Me brcach: (2) the action , ~ req~ired to c~re s~ci breaci: (3) a date. oot kss thax 30 days iroa~ t6e date t1~e sotice Ls ~aikd to dorrower. by vrhich sucb ? breacb ~mt be crred: s~d (4) tMat fa7~n to care ssch breacM oe or betore tbe date s~ec~ed 'a~ the aotice may rccdt in ~ awd sale of the Pro 'Il~e notice ° secekratiow of Itie sraRS secored by tias Mort~s~e. toeeclosore ~ j~dkial'roceedia~ P~~'• ~ sha4 frrtl~er isform Eorrower of tbe rytW to reiastatc ~~er sccckratioe sad ttie ~bt to ~ssert ia tt~e forec{osyrr proceedi~ ' 1 ~ tie ~os.e:istcwce of a defadt or aay otber defease of Eorror?er to xcek~atioa and foreclosure. It the breach is oot cnred ou 2, or before the date speci6ed s tt~e wotice. I.ender at t.ende~'s optios may deciare dl of tbe srwas secored 6p this MortRs~e to be ; immediatdy dne and psyable wNbort forther demand and mav forec{ose tbis Mo~a~e b~' jrdi~ial Proceedi°~. i.eoder chall ~ be eotitkd to coUeet e~ ssc~ proceedin~ aM e:pesses of foreclosarc. iaclndio~. bnt ~ot IimHed t0. n~~~ 'tv,rnr r's ees. ~ ~ asa costs of w~c.:_~ae~tar~ erideoce. sbstrsMs and litk reports. ~ ~ ~ 19. Don+nwe~'s RI~Yt to Reiastate. Nc~tv?~ithstand~ng l.ender s acceleration of the sums secured by th~~ .~rtgage. ~ ~ Borrower shall have the rigfit to have any proceedin~ hegun ~y 1_ender to enforct this Mortgage discontinued at any time ~ ~ ` ~ c~ ~ 6URK J~~ ?ACE 02~, _ _ _ _ ~ w~ ~ - - - F~, .v . . ~ y