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Home My WebLink About0846 ~ ; 3 l.ender's written agrcement or applicabk I~w. Borrowe~ shall pay the amount o[ all mort~agp insurance premiums i~ the i manner p~ovided u~de~ parag~aph 2 heroof. . ' i Any amounts disburaed by I.t~der pursuant to tha paragnph 7. with iaterest thereoo, shall becane additional ~ indebt~dness of Borrowcr secured by ~his Mortgage. Unless BoROwer and LenJer agrce to other tertns of payment. such amounts shall be payabk upa~ noticc from I.ender to Borrower rcques~ing payment thereof, and shall bear interat fmm the date of disbursement at the rate payahk from time to time on wrtstand'mg p~incipal unde~ the Note unless psyma~t ot interest at such nte would be contnry to applicabk law, in which event such amounts shall bear intere.st at the hishest nte permiasibk under applicabk law. Nalhing ccx?taiaed in this paragraph 1 shall require Lender to~ incur any expense or take • any actio~ hereuuder. S. Iaspeclio~, i.e~der may make or cause to be made rcasonabk eMriec upon and inspections of the Propetty. provided that i.eoder shall give Bonawer notice prior to any such inspection specifying reasonabk cause thercfor rclatod to Lender't intercst in the Property. 9. Cowdemeatbn. The proceedc of any award ar claim for damages, dircet or co~?sequential, in rnn~ectioR with any condemnation or other taking af the P~operty, o~ paA t~a~nt, or tbr ccu~veyance in lieu of condemnatiot~, are her~by assigned and s:iall be paid ro I~tider. ' ~ in ~he event of a tot~l taking of the PropeNy. the proceeds chall be applied to the sums securcd by this Mortgage. ` ~ with the excess, if any, paid to Borrower. ln the event of a partial taking of the Property, unless Botrower and Lender othervvise agroe in writing. therc shall be applied to ~he cums secured by this Mortgage such proportion of the precesds . as is equal to that proportion v?hich the amount of the sumc secured by this Mo~tgage immediately prior to the date of talcing bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the procetds paid ta Borrower. . ~ if the Piroperty is ~handonecl by Bor;oN•er, or if. after notice by I.ender to Borrower that the condemnor ofiera to make an award or xttle a claim for d~mages, &~rrower fails to recpond to l.eoder within 30 days after the date such notice is mailed. Lender ic authorized to collect and apply the proceeds, at I.ender s option, either to ratoration or repair of tl~e Proparty or to the sums sccured hy this Mor~~ta~ec. Uoless I_ender and Borrower otherwice agree in w~rit~ng. any such application of proceeds to principal shall not extend or postpone the due date of the monthly ins~allments rcferred to io paragraphs 1 and 2 hereof or change the amount of such iostailments. 16. Borrowe~ Not Released. Extcnsian of thc time for payment o~ modification of amortization of tht sums secured by this Mortgage granted by I.ender to a~y cuccecu?r in interect of Barrower chall not ope~ate to release. in any manner. ihe liability of the origina) Borrower and Bc~rrower'c soccessorc in interest. Lender shall not be required to rnmmence prpceedings against such succesu~r or refuse to ertend time for payment or otherWise modify amortizahon of ~he ~ums secured by this Mortgage by reacon of an~ demand made b~• the oriQinal Borrower and Borrower's succe~ors in interctl. l l. Forbtannce by Lendtr Not a Waiver. Aoy forhea~ance by I.ender in exercising any right or remedy hereunder, or otherwise afforded by applicable law. shall not t~e a waiver ot or preclude the exercise of any such right or remedy. The procurement of insurance or the payment of tares or other liens or charges by I.ender shall not be a waiver of Lender s right to accelerate the maturity of the indehtednecs cecumd hy this Mortgage_ 12. Remedies Comulati~e. All remedies provided in thic Mortgage are distinct and cumulative to any ather right or rcmedy under Ihis Mortgage or afforded hy la~v or equity, and may be exercised concurrently, independently o~ successively. ~ 13. Snccessors and AssiRas Bound: Joinf a~d Sereml i.iaM'lity; Captions The covenants and agrcemen:s herein contained shall bind, and the rights her~under shalt inore to. the respective succecwrs and assigns of Lender ~d Borrower. subject to ihe provisions of paragraph 17 hereof. All covenants and agreementc of Borrower shall be joir~ and uveral. The captions and headings of the paragraphe of thic Mortgage are for convenience only and are not to be uced to interpret ~r define the provisionx hereof. 14. Notice. Except for any notice rcyuired under applicable law to be given in another manner, (a) any notice to Borrower provided for in this Mortga¢e shall be given hy mailinR such notice by certified mail addressed to Borrowe~ at the Property Address or at such other addres. as Borrow•er mav designate by notice to i.enckr as provided herein, and (b) any notice to Lender shall be gi~cn by cer~ified mail. return receipt requested. to l.ender s address stated he~ein or to such other address as Lender may deci¢nate by nMice t~~ Borrower u provided herein. Any notice provided for in this Mortgage shall be deemed to havc t+een gi~~cn ta Bc~rmw•cr or Lcnder Nhen given in the manner designated herein. l5. Uniform Mort~a~e; Covernin~ Iaw; Se~erability. This form of mortgage combines uniform covenants for national use and non-uniform covenants with IimiteJ ~~ariations M• jurisdiction to constitute a uniform security instroment covering real properiy. This Mortgage shall be governed b~~ the law of the jurisdiction in which the Property is located. ln the I event that any provision or dauce of thia Morig~ec ~r ~he T`ote conflicts w•ith applicable law, such conflict shall not aftect ~ other provisions of this Mortgage or ~he N~~tr v?hich can be given efTect witho~it the conflicting provision, and to this ~ end the provisions of the Mortgagc and the Notc arc declared to he severable. ! 16. Borrowe~s Copy. Borrower shall t+e furni~heJ a conformed cop~ of the No~e and of this Mortgage at the time of execution or after recordation hereaf. ~ 17. Traasfer of the Propertv; Ascumplion. if ~II ~r an}• part of the Pmperty or an intercst therein ic sold ar transferred ~ by Borrower without Ixnder's prior wrinrn cuncen~_ e<cluding (al the creation of a lien or encumbrance subordinate to ~ this Mongage. (b) the creation of a purchace m~~ney ~ecurit~• interest for household appliances, Icl a transfer h}• deviu. ~ descent or by operation of law upon Ihe ekath of a jo~nt tenant or (d1 the grant of any leasehold interest of threc years ar lect S not containing an option to purchase. Cender may. at Lender's option, declare all the sums secured by this Mortgage to 1~e 4 immediately due and payable.. Cender shall have u:~ived sach option to accelerate if, prior to the cale or transfer. I.ender ~ and the person to whom the Pr~~?ertv i~ ~x .~l.l ~,r tr~nsferred reach agreement in writing that the credit of such person is satisfactory to Lender and that the intere.t payable on the sum~ secured by this Mortgage shall be at such rate ac I.ender shall rcquest_ If 1_ender has waivec! the option ~o accelerate provided in this paragraph 1'I, and if Borrower i successor in interest hac executed a written assumption aFreement accepted in writing by I.ender. Lender shall release Borrower trom all obligations under this Mortgage and the Note. If I_ender exercises soch option tn accelerate. 1_ender ~hatl mail Borrower notiee of acceleration in accordanc~ iih paragraph 14 hereof. Such notice shall provide a pericxi ~f not lesc than 30 days from Ihe date the notice is mailed K•ith~n ~ which Borrower may pay the sums declared due. If Borrower fails to pay such soms prior to ~ht expiration of ~uch period. Lender may. without further notice or demand on F3o~rower. mvoke any remedies permitted hy paragraph IR hercof_ ~ Notv-Ur~iFORM Covetv~tvTS. Borrower and 1_ender further covenant and agrce as follows: l8. Accelcratioe; Reroedia. E:cept as provided io para~nph 17 hereof. npon Eorror?e~'s breach of any co~caaet or ~ reemmt of Borrower ia t6is M e. includ' the co~ensnts to Nlltll dll! a11 s~ms se~wred this Mort e. I.eader ~ aR ~R~qG ~ Wy y M' R~ ~ prbr to scceleratioo shall mail aotict to eorrower as providtd ia para6rapA 1~ hertof specity~: (1) tbe eresc~: (21 the actaa ~ requirsd to enre suc6 bresch; (3) a date. aot kss tban 30 days irom tbe date ths notice is mailed to ~ro~+er. by vrhicb wc~ brescA mwt be cered; aod (4) Ihst failaro to cure wch breach on or before the dale speci6ed in the notke may result ia ~ accderatio~ of tbe wa~s sec~urd by tbis MoN~s~e. torecbwre by judkial proceedia` aod sak of the Pmperty. Thc notice ~ shall further infwm Eorrower of tl~e ri~h/ to reinstate afler sccckration aad tbe ri~ht lo ~ert in tbe foricbwre proceedi~ ~ t~e non-e:istence ot a detault or any otber defe~e of Borrower to accekration snd foreclosere. tE the breach is eot cored oa ~ or before the date speci6ed in tbe notice. Lende~ at I.ender's option may declare s8 ot tbe saas secnred b~' tl~ Mort~a~,t to be ~ immediately due and payablt vrithout furtber demand and may forccbse t~k Mo~ate by ~dicial ptoceedinR• I.ender chall ~ be entided to collect in sucb ProceedinR aq expenses of foreclosnre. iacludiaa. bnf wot lia~itd to. nasonabk atturne r's fees. ~ aod costs of ~iuc~~sentary eridence, sbstrac~s snd lilk reports. ~ 19. dornnwa's Riabt to Reiosiate. Nc~tw~ithctanding Lender s accderation of the sums sccurcd by th~• Mortgage. ~ Borrower shal) have the right to have any procerd~ng~ hegun %?y I.ender to enforce this Mortgage discontinued an}~ time ~ a~eK 306 ~AcE 845 ~ ~ ~ ~ ~ ~ a.~ x ,er~=.~. ti s~... .s_- . `?'~t~~ aex~~_.~,