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Home My WebLink About0840 ~ Le~der's written :,greement or applicabk law. Borrower ahali pay the amount of ali mottgage insuranoe premiums in the ! manner provida! u~der paragnph 2 heroof. . i Any amou~ts disbursed by l.eoder pursuant to tha parag~aph 7, with interest the~, shall becane additional imieb~edness of Borrower secured by this Mortgage. Unless Bonower and LenJe~ agroe to other terms of paymen~ such amounts shall be payabk upon nc~tice f~am i.ende~ ta Borrower roquestiog payment thercof, and shall bear i~tercst fmm the ' date of disbursement at the ratc payahk from time to time on a~tstanding principal unde~ the Note unlas payment ot ~ intercst at such rate would be co~tran? to applicable law, in which event such amounts shall bear interest at the hiahest rsta permiasibk under applicabk law. Nothing cantained in this paragraph 7 shall require Lender to incur a~y eapense or tate any action hereunde~. S. l~apectb~. t.e~der may makc or causc to be made rcasa?abk eMriex upon and inspections of the P~operty. provided that Lender shall give Borrower notice prior Ia any such inspection specifyin6 rcasonabk caux therctor rclated to I.e~der's i i~terest in the Propetiy. 9. Co~de~aeafbw. The proceedc of any award cx claim tor damages, dircet or consequential, in connection with any condemna~ion or other taking of the Property, cx pan thereof, o~ for conveyance in licu of condemnation, are hereby assigoed and s:iall be paid to L.e~der. ~ in the event of a total taking of the PropeNy, the pra:eeds chall be appli~d to the sums secured by this Mortaage, ~ with the excess, if any, paid to Borrower. ln thc event of a panial taking af the Proptrty. unlas Bomower and Lender otherwise agroe in writinR, ihere shall be applied to the sums securcd by this Mortgage such proportion of the proceeds u is equa) to that Qroporiion v?•hich the amaunt of ihe sumc secured by this Mortgage immediately prior to the date of taking bears to the fair market valix of the Pmpcrty immediately prior to the date of taking, with the balance of the pnoceeds paid to Borrower. i If the Property is abandoneci by Bor:ower. or if. after notice by I.ender to Bormwer that the condemnor ofters to makt an award or uttk a claim for damages, &umwer faih to res~nd to i_ender within 30 days atter the date such notice is mailed. I.ender is authorized ta co11ec1 artd apply the proceeds. at i.ender s option, either to ratontion or repair of the AroFert) or to tht sums sccurcd by ~his Mortgagc. Unless I_ender and Borrovver othenvise agree in w~ritinc. any such application of proceeds to principal shall not extend c,r postpune the due da~e of the monthly installmcnls rcferrcd ta in paragraphs 1 and 2 hetrof or change the amount of - such im~allments. 10. Eorrower Not Rek~sed. Extension of the time for payment or modification of amortization of the sums secured by tAis Mottgage granted by I.eoJer to any ~uccecu~r in interest of Borrower ~hall not ~pe~ate to rekase, in any manner. the liability of the original Borrower and Be?rrawer'c successorc in interest. Lender shall not be required to rnmmence proceedings against such successor or rcfu~e to ertenJ time for payment or othen+•iu modify amcxtizabon of thr wms sec:ured by this Mortgage by rcason ot an~ dcma~d made b~• the ariRinal Borrower and Borrower s successars in intereu. 11. For6earance by Lender Not a Wai~•er. Any (~rhearancr hy l.ender in ctiercising any right or remedy hereunder, or othen~rise afrotded by applicahle law, shall not be a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance or the payment of taxes or other liens or charges by I.ender shall not he a waiver of Lender's right to accelerate the maturity of the indehtednecs cecurcd hy thic Martgage. 12. Remedies Comulatite. All remeciies provided in thic Mortgage are distinet and cumulative to any other right or remedy onder this Mortgage or afforded hy law or equily, and may be exercised ccx~currently, independently~ or suc~essively. ' l3. Successors and Assi~ns Bound: .loint and Se.~eral I.iaM'lity; Captbas. The covenants and agrcemen:s herein ~ contained shal) bind, and the riRhts her~unde~ shall inure to. the n.~cpective succesu~rs and assigns of Lender at~d Borrower, subject to the provisionc of paragraph 17 hereof_ All covenants ana agreements of Borrower shall be joiM and several. ~ 71~e captions and headings of the paragraphc of thi~ Mortgage are for convenience only and are not to t+e uced to ~ interpret or define the provisions hereof. 14. Notke. Except for any notice reyuired under applicable law to be giveo in another manner. !a) any notice to Borrower provided for in this Morlga¢e shall be given hy~ mailing such notice by certified mail addressed ta Borrow~er at the Property Address or at such other addres. as Borr~w•er ma~~ designate by notice to I.ender as provided herein, and (b) any notice to Lender shall he given by certificJ mail. return receipt requested. to Lender ~ address slated herein or to cuch other address as Lender may decignate by n~tice to Borrower as provided herein. Any notice pmvided for in ihis Mortgage shal) be deemed to havc t~een givcn to Bo~row•er c~r l_cnder when given in the manner designated herein. 15. Uniform MorlRa~e; Gorernin~ [aw; Severability. Thi~ form of mortgage combines oniform covenants for national use and non-uniform covenan~c with limited variationx M• jurisciiction to canstiti~~e a uniform security instrument covering ; real property. This Mortgage shall be governed hy ~he law~ of the jurisdiction in which the Property is locat~d. In the i event that any provision or clause of thic Mortg:.ge c.r the Nrne conflicts with applicabk law. such confliet shal) not affect i other provisions of this Mortgage or the N~~tr which can be given efTect witho~tt the conflicting provision, and to this ~ end the provisions of the Mortgage and the 'Vote arc .Icrlared to t~e seve~able. 16. Borrower's Copy. Borrower shall tn forni+hed a conformed cop~ o[ the Note and of this Mortgage at the time of execution or after recordation hereof. € 17. Traatfer of the Properfy: Assumplion: If alt c.r am• part of the Property or an interest therein is sald or transferred ~ by Borrower without Lender's prior wrinrn cuncent. excluding (al the creation of a lien or encumbrance subordinate to this Mortgage. (b) the creat~on of ~ purrh~c~: m~me~• ~ecurit~• interest for household appliances. (c) a t~anster h~~ devise. ~ descent or by operation of law• upon the Jcath of a j~~int ~enant or (d~ the grant of any leasehold intemt of thrcc ycars or less ~ not containing an option to purchase. Cender may_ at l.ender't option. declare all the sums secured by shis Mortgage to be immediately due and payable. Lender chall h•r~•e A;,i~•ed such option to accelerate if, prior to ~he ~ale or transfer. I_ender and the person to whom the Property ic be .oW ~.r transferrcd reach agreement in writing that the credit of wch percon is satisfactory to Lender and that the interc.t payahle on the sums secured by thic Mortgage shall be at such rate a~ I.ender shall request_ If I_ender has waived the op~ion to accelerrte provided in this paragraph 17, and if Borrower i successor in interest has executed a written assumption a~reement accepted in writing by i.ender, Lender shall releax Borrower from all obligations under ihis Mortgage and the Note. If Lender exercises such opiion tn accelerate. l_enJer ~hall mail Borrower notice of acce!eration in accordancc i~h paragraph 14 hereof. Such notice xhall provide a pericxl of not lesc than 30 days from the date the notice is mailed within ~ which Borrower may pay the sums declared du~. I( Borrower fails to pay such sums prior to the expiration af ~uch peri~.d. ~ Lender may, without further notice or dcmand on Borrower. invake any remedies permitted hy paragraph I R hereof. ~ NoN-UN~FORM Coverv~NTS. Borrower and Lender further covenant and agree as follows: 18. Acceleratioo; Remcdies. Except as pmvided io para~nph 17 hereof. epon dorrowels brescl~ of awy covenant or A a6reement of Eorrower iu thit Mort~s~e, includin~ tbe covenams to pay r?bea dse a~y anms secercd br tbis Mort~age. [.eader ; prior to accekntios sball tnsil notice to Eorrower zs providcd in pars~rapb 14 bercof spccif~: (1) tbe breach; (2) the setion ~ requfred to core sucb breach; (3) s date. not kss than 30 days from Ihe date tbe aotice is ~a8ed to Dornuwer. br rrhich sucb breacb must be curcd; aad (4) thst failurr Io cnre such bresch on or before the date specjl'ied fn the aotice msy resdt ia ` acceleratioo of the sra~s secured 6y this MoA~s~e. fwccfowre by judicial proceedin~ aad sak of tbc Pmpertr• 77~e notice : ~ shall f~rther iofor~ Eorro~+er of tbe ri~ht to ninst~te afler accekrstion and tbe ri~M to ~ert in the fortclosdre proeeed~ i ~ We rws-e:istence of s defsnlt or aay other defense of Borrower to accekratioa a~ foreclosure. If tLe breacb is aot cared ou or before Ihe dste specified ie tbe aotice. [.ender at I.ender's option inay declue sll oE tbe soms stenrtd by this Mort~s~,t b be ~ immediately due snd payable without furthcr dem~nd and mar forcclost this MortRa`e by judicial poeeediuR. I.ender chall 6e eotided to cdlect iw soc6 procea~in6 all e:penses of foreclosure. includiua. M~t ~ot limjted to. reasonabk att~,rnr ~'s fees. ~ aud eosts of ~wcr~aetary erideoce, abstrac~s and titk reports. i ~ 19. aorrov~e~'s Ri~Yt to Reimtate. Notwi~hctand~n~t Lender's acceleration of the sums secured by thr M.~rtgaga ~ ~ Borrower shall havt the right to have any proce~dmg. he~un hy Lender to eoforce this Mortgage discontinued at any time ~ ~ 3U6 ~-.~~F 8 9 ~ 3 ~ ~ ~ ~...r K~. _ w; . " x