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Home My WebLink About0834 ~ Lender's written •rgrcement or applicabk law. Borroww shali pay the amount o[ all mortgage insurance pt~emiums in the ~ manoe~ provided under parag~aph 2 hereot. . Any amounts disbu~sed by I.cnckr pursuaot to this paragrsph 7, with iatemst thereon, shall become additional indebtedness of Borrowcr securod by this Mortgage. Unless Borrower and l_enJcr agroe to other tertns of payme~t, such ± amounts shall be payabk upon notice fram l.eode~ to Bonowe~ roquesting payment thercof, and shall hear inte~est from the 1 date of disbursement at the rate payahk from time to time on aitstandina principal under the Note unkss payment of ~ intercst at such nte would be contrary to applicabk law, in which eve~t such amou~ts shall bear interest at the hishest rate ~ permissibk uoder applicabk law. Nathing co~uined in this paragraph 7 shall rc~uire Ixnder to incu~ any expense or talce ~ any action hereunder. s. iwspectlow. i_ender may make or cause to be made rcascx~abk entries upon and inspectio~s of the Property. pmvided that [.ender shall give BoROwe~ notice pri~ 1o al~y such inspection sptcifying rcasonabk cause Iherefor related to I.a~der's interest in the Propetty. 9. Co~de~uwaliow. The proceedc af any award or claim for damages, dircc~ or constquential, in connection with any condemnation or other taking of 1he Propeny. or pan thereof, cx for canveyance in lieu of coodemoation, are hercby assigned and s:iall be paid to I.ender. . i~ the event of a tMal taking of the Pmperty: the p~oceeds chall be applied to ~he sums secured by this Mortgage, ' with the excess, if any, paid to Bonowe~_ In thc cvent of a pa~tial taking of Ihe Property, unless Bomower and Leoder , atherwise agrce in wtiting, ther+t sfiall be applied to Ihe cums secured~by thic Mortgage such proporlion of the procoeds i as is equal to that prapoNion v?•hich the ama~nt of ~hc sumc securcd by this Mortgage immediately priar to the date of taking bears to the fair market value of the PmpeNy immediately prior to the date of taking, with the balance of the proceeds paid to Borrower. it the Propetty is at?andc+ned by Bor:awer. or if. after notice by l.ender to Borrower that tlie mndemnor ofien to malce an avrard ar settle a claim for damages, &?rrower fail. to respond to I-ender within 30 days after the date such notice is mailed. Lender ic authorized to collect artd apply the pre?ceeds. at l.ender's option, either to restoration or rcpair of tl~e Propeny or to the sums securcd h~~ this MortRa~te. Unless l.ender and Borrower otherwi~e ag~ee in w~ritine. any such application of proceeds to principal shal) r~ot extend or postpon~ the due date of the mon~hly installments referrcd to in paragraphs 1 and 2 hereof or chaage the amount of such installments_ l0. Bonower Not Rekised. Extension of the time for payment or modification of amortization af the sums secured by this Mortgage granted by i_e~xler to any cuccessor in intereu of Borrower shall not ope?ate to release. in any manner. the liability of the original Borrower and Bc?rrower'c succes~orc in interat. 1_ende~ shall no1 be required to rnmmence p~oceedings against such successor or refuse to ertenJ time for payment or otherwite mcdify amortizaUon of ~hr ~ums secured by this Mortgage by reasc~n o( any demand made b~• the orieinal Borcuwer and Borrower s succescors in intercst. 11. Forbearance by Lender Not a Wai.~er. Am• f~rhearance by I.ender in e~ercising am• right or remedy hereunder, or otherwise afforded by applicable law_ shall not he a waiver of or preclude the exercise of any such right or remedy. The procurement of iosurance or the payment of taYec or other liens or char~es by I_ender shall not be a w•aiver of Lender's right to accelerate the maturiry of the indehtednecs ~ecured h~~ thic Mortgage_ 12. Remedies Camulali~e. All remeeiies pro~•ided in thic Mortgage arr distinct and cumulative to any other right or remedy under this Mortgage or afforded hy law or equity, and may. !x exercised concurrenNy, independently or succescively. ~ 13. Sacces~ors aad Assi~ws Bound; .Joint and Sereral i.iabGlity; Captions. The covenants and agreemen's herein conlained shal) bind, and the rights her~under shall imire to. the respective successorc and assigns of Lender and Bomower. subject to the provisions of paragraph 17 hereof_ All covcnants and agreements of Borrower shall be joiry and severat. 'il~e captioos and headings of the paraeraph~ of thic Mortgage are for convenience only and are not to be uced to interpret or define the provisans hereof_ 14. Notice. Ezcept for any notire rcyuired unckr applicable law to be given in another manner. (a) any notice to Borrower provided for in this Mortga¢e shall he gi~~en h~• mailing such notice by certified mail addressed to Borrovver at the Property Address or at s~ch ~~hcr addresc as &.rri,w•er mav designate by notice to T.ender as provided herein. and (b) any notice to Lender shall he given by ~certi6ed mail. retum receipt rcquested. to l.ender c address stated herein or to such other addrcss as Lender may de~ienate b~~ n~tice t~ Borrower as provided herein. Any notice pmvided for in this Mortgage shall be deemed to have t+een givcn to Bc?rmwer or Lender when given in the manner designated herein_ ~ 15. Unifom~ Mort~a~e; Goverei~ Iaw•; Se•~erabilitv. This form of mortgage combines uniform covenants for national i use and no~-uniform covenantc with limi~ed variations M• joriuiiction to constitute a uniform security instrument covering i real property. This Mortgage shall be governed hv the law• of the juriaiiction in which the Property is located. in ihe i event ~hat any provision or clause of thic I~lortgaee ~~r the Note conflicts with applicable law. such conflict shall not affect ' ~ other provisiona of this Mortgage or~ the N~~tr v?hich can i?e given efiect without the conflicting provicion, and to ihis end the provisions of thc MorlgaRe and the 11o1c arc ~kclared to tx severable. ~ 16. Eorrowe~s Copy. Borrower shall tx furni~hed a conformed cop~ of the Note and of thic MortRage at the time ~ of execution or after recordation hereof. ~ 17. Trander of t6e Propertv; Assump~ian. Ii all ~r an~ part of the Pn.peny or an interect thercin is sold or transferred ~ by Borrower without Lenders prior wriu~n conscm. cxcluding Ia1 the creation of a lien or encumbrance subordinate to this Mortgage. (b) the creaUon of a purch~a: mnnc~~ ~ecarit~• interest for household appliances. (cl a trans(e~ hy devise. ; descent or by operation of law upcx~ the Jcath of a i~~int tenant or (d~ the grant of am leasehold interest of Ihrec ycars ot lets not containing an option to purchase, l.ender ma~•. at l_ender'~ option, declare a!I the sums secured by this Mortgage to be immediately due and payable_ Lender shall ha~~e w:uved such option to accelerate if, prior to the cale or transfer_ I.ender and tht person to whom the Property ic n? be :ol.l or transferrcd reach agreement in writing that the credit ~f ~uch person ~ is satisfactory to Lender and that the interr~t pa~~able on the sums secured hy thic '.1Qortgage shall be at such rate a~ I.ender shall request. if I_ender has waived the option to acceler:~te provided in this paragraph 17, and if Borrower ~+uccessor in interest has executed a written assumption agreement accepted in writing by I.ender. Lender shall rtlease Borrovver from all ~ obligations under this Mortgage and the Note. If Lender exercises such option t~ acceterate. LenJer chall mail Borrower notice of acceleration in accardancr ~~~~h paragraph 14 hereof_ Such notice shall provide a periexi of not lese than 30 days from the date the notice is mailed within ~ which Borrower may pay the sums declared due. If BorroKer fails to pay such sums prior to the expiration of such period. ~ Lender may, without further notice or demand on l3orrower. invoke any remedia permit~ed by paragraph 1 ft here~f. x ~ - NoN-UH~FORnt Coverr~rvTS. Borrower and l.ender further covenant and agree as follows: 18. Acceleratior, Remedies. E:cept as Pr~wided ia paraRraph 17 hereof. soRO~srs ~a o~ aar ro•~~~ o~ _ a~reemest of Dorrower ie t~is Mort~s~e. includin~ t6e co~enants to pay when due any snms secund br this Mort~s~e. [.ender ~ prior to accekratbe s6aH mail oofice to Eorrower zs provided in pars~rapb 14 hereof specifl~nt: (1) tbe bresch:/21 the action i: nqnired fo crre snch ~rse6; (3) a dwte, wot kss thsu 30 days from tbe date ffie notice is ou8ed to ~orror?er. by which such ~ M~escA mast be crred; aod (4) 14at failurc to cure sach bresch on or betore the d~e specified in the notice msy result in ~ scceleratioa of tbe ards secored by this Mort~s~e. foreclowre by jndicial proceedina and sak of t6e Pmperty. 'Ilrc notice 4 , ~ shall furl6er inform ~o~rower of thr ri~bt to reinstate afler accekration and t6e rigbt 1o assert ia t6e forecbsure proceediwa ~ ~ t6e aon-e:istence of a defank or aay olher defense of Borro~.er to accekntioa and forecbsure. If ihe breach is oot cared on i or 6efore the dste specified i0 the notice. Lender ~t I.ender's option msy declare aq of the wms secured by this MortRa~ e to be ' immediattly dut sad payable withoot farther dem~nd and may fortcbse th~ Mort~a`e by judicisl proeeedin~. i_ender chall ~ ~ be endtled to coliect in sac~ proceedin~ aH expenses of foreclosurc, iacludiug. bnt oot Umited to. n~sonable annrne.'s fees. j ~ aod costs of wic~~atatary evideoce. abstr~c~s and litk reports. ~ ~ 19. Sorrown's Ri`~t to Reiostate. Nc~tv?•iths~anding Lender s acceleration of the sums securcd by ~h~• M.~rtgage. ~ Borrower shall have the right to have any proceed~ne. hegun ~y I.ender to enfarct this Mortgage discontinued at an}• time i ~ sL~K ~306 833 ~ ~ . ~ _ ~ ~ - v~ . _ - -