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Home My WebLink About0489 l~nder's written agrcemeM or applicable law. Borrowe~ shali pay the amoun~ of all mortga~e insuranoe pre~i!~ in the maane~ providecl undet parag~aph 2 hercof. Any amounts disbuned by i.ende~ pursua~t to this paragraph 7, with iatcrest thereo~, shall become additwnal indebtodnas of Borrowcr securod by Ihis Mohgage. Unkss BoROwer and l.ender agrcc to othe~ temu of paymen~ such amounts shall be payabk upo~ natice f~om l.ende~ to Borrow~r rcyuesti~g payment thercof. a~d shall bea~ inle~est fmm the date of disburs~ment at the rate payahk from time to Iime cm aUstanding p~incipal under the Note unlas psymen~ ot , interest at such nte would be contnry to applicabk law, in which event such amounts shall boar interest at the hishest rate i permissibk under applicabk law. Nathing ccx?tained in this paragraph 7 shall require l.ende~ to incur any expense or take ; any action hereunder. ~ S, Iwspeetb~. I_ende~ may make ar cause to be made rcascx~abk enti~es upoo and inspections of the P~operty. pro~~ded that i_ender shall givt BaROwer ndKe prio~ to any such inspectioo specifying rrasonabk cause therefor related to Lender's interest in the ProperlY• 3'" _ q, Cosde~uptbu. T'he proceeds ~f any award or claim for damages, direct or consequential, in connoction with any co~demnation or other taking of the P~ropeny. or part thereof, ar far ccx~veyance in lieu of condemnation, arc hereby assigned a~d s'.~all be paid to I.ender. ? In the event of a total taking of the Properly. ~he p~oceeds ~hall t~e applied to the sums secured by this Mortgage, . with the excess, if any, paid to Borrower. ln Ihc cvent of a partial taking af the PropertY• unkss B°n'°`"'~r and Lende~ ~ otherwise agree in writinR. tfiere shall be applied to Ihe ~ums secured by this Mortgage such proponion of the proceods . as is equal to that proponion v?~hich thc amount o( thc sumc cecured by this M~ngage immediatdy prior to the date of , E taking bears to the fair market value of the Propcrty immediately prior to the date of taking, with the balance of the proceeds ; paid to Borrower. , If the Property is al+andonecl by Bor:ower. or if. aher notice by i_ender to Bormwer that the condemnor offers to make ~ an award or setlk a claim for damages. &~rrawer fail~ to res~nd to i_ender within 30 days atter the date such notice is mailed. LenJer i~ authorized to collect and apply the proceeds, at i_ender s option, either to restoration or repair of the i Prope~ty or to the sums securcd hy this Mor~ga~ee. ~ Unless i_ender and 8orrower otherwice agree in N•rit~ng. any such application of pre~ceeds to principal shall not extend ~ or postpone ihe due date of the monthly instalimcnts rcfcrred to in pa~agraphs 1 and 2 hereof or change the amount of ~ such installments. ' lp, Dorrowe~ Not Relsssed. Extcncion of the time for payment or modification of ama e~ pt,releasethn a Y5~ M ~ by this Mortgage granted by i.eoder to any curcecu~r in interest of Borrower shall not ope ~ the liability of the original Borrower and liorrower e s~~ccescorc in interest. 1_ender shall not be required to eommence s proccedings against such successor or rcfuse to ertend time for payment or othen~~iu modify amortizat~on of thr ~ums # secured by this Mortgage by rcason of any demand made by the orieinal Borrower and Borrower s successors ~n intercst. I1. Forbear~nce by Lender Not a Waive~. Any forhearancc b~• l.rnder in exerci~ing a~y right or remedy hereunder, or ~ othervvise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy , The procurement of insurance or the payment af tates or other liens or charges by i.ender sfiall not he a waiver of Lender's ` right to accelerate ihe maturity~ of the indehtednecs cecured hy this Mortgage. ! I2. Renxdks Comulathre. All remedies provided in this Mortgage are distinct and cumulative to any other right or ; remedy under this Mortgage or atforded by law or equity. and may be exercised concurrently. independently or soc=.essively. } • 13, ~~r~ ~d As~os Bound; Joint and Se~'er'a1 i.isbilitY: Captbns. The covenants and agrcemen~s herein contained shall bind, and the riRhts herYUnder shall inure to. the recpective successors and assigns of Lender aod Borrow~er. subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be join~ and several. ; The captions and headings of the paragraphc of this Mohgage are for convenience only and are not to be uced to interpret or define the provisions hereof. 14. Notiee. Except for any notice rcy~iired unekr applicable law to be.giveo in another manner, (a) any notice ta : Borrower provided for in this Mortga¢e ~hall be given hy mailing such notice by certified mail addressed to Borrower at i the Property Address or at such other address as Barrower may designate by notice to i.ender as provided herein. and = (b) any notice to Lender shall he given hy certified mail, retum rece~pt requested. lo i.ender s address stated herein or to ~ such other address as Lender may decienate by notice ~o Bormwer as provided herein. Any notice pmvided for in this Mortgage shall be deemed to have t+ecn gi~•cn to Bc?rrower or Lcnder when given in the manner designated herein• j 15. Uniform MortRa~e: Governin~ Iaw: Se~'~r~b~~i~Y• This form of mortgage combines uniform cavenants for national I ose and non-uniform covenants with limiteJ variations b~• jurisdiction to constitute a uniform security instrument covering ` tral property_ Th~s Mortgage shall be governed hy. the law• of the jurisdictian in which the Properly is located. In the ~ event that any provision or clause of thic Mortgage ~r ~he Note conflicts with applicabte law. soch conflict shall not aftect ~ other provisions of this Mortgage or the N~~tc whirh ran be given eRect wi~hout the conflic~ing provision, and to this E end the provisions of the Mortgage and the ~1ote arc dcclared to be severable. f 16. dorrower's Copy. Borro~+•er shall t+e furni~hed a conformed cop; of the Note and of thic Mortgage at the time ` of execution or after recordation hereof. - ~ 17. Transfer of the Propertv; Ascumption. If all or an}• part of the Property or an interest therein ic sold or transferred ~ by Borrower without I.ender's prior wrinen conc~:nt. excluding (al the creation ot a lien or encumbrance subordinate to this Mortgage. (b) the creatu?n of a purch~cc mone~• ~ecurin• interest for household appliances. (c) a transfer hy devise. descent or by operation of law upon the death of a j~~~nt tenant or fd) the grant of any leasehold interest of thrcc ycars or less not containing an option to purehase. Lender may. at l.ender'~ option, declare all the sums secured by this Mortgage to be immediately due and payable_ Lender shall have W a~ved such option to accelerate if, prior to the ~ale o~ t~ansfer. I.enekr and the person to whom the Property it t~. be ~ol.l or transferrcd reach agreement in writing that the credit of ~uch percon is satisfactory to I.enJer and that the interr.t payable on the sums secured by this Mortgage shall be at such ra~e ac l.ender shall rcquest. 1f Lender has waived the ~ption to accelerate provided in this paragraph 17. and if Borrower's successor in interest has executed a written assump~ion aFreement. accepted in writing by Lender, Lender shall releace Borrower from all obligations under this Mortgage and the Note. If Lender exercises such option t~ accelerate. 1_enJer shall mail Borrower notice of acceleration in accordanc~ ith paragraph 14 hereof. Such notice shall provide a period of not lesc than 30 days From the date the notice is maited within which Borrower may pay the sums declared due. lf Borrower fails to pay such s~~ms prior to the expiration of tuch period. Lender may, without further notice or demand on ~rrower, invoke any rcmedia pern?itted hy paragraph I R hercof. ~ Nor+-UH~FORr~t CovEN~rrrs. Borrowe~ and Lender further covenant and agrce u follows: ~ ovided ia 6 17 hereof. ~ s«w••~r: ot s.y ~o~~~~ or 18. Acceleratioa: Remtdia. E:cept as pr WnR~P this Mort~a~~. Lender ~ a~reemeot of Eorrowcr fe t6iR MatgsRe, iacludi~ tbe co~ensnls to psy ~?bee ~~t ~~~xb~ ~Z) fllt ~~011 ~ prbr to acceleratio¦ shall mail aotice to QoROr?er as provided la par~,raPh rshich suc~ ~ required to csre ssc6 bracb; (3) a dde, not kss than 30 ds from tbe date the ooticc is ~~n'On~otke mar tcsWt ia bresch a~mt be crred: aod (4) ihat fsitnre to cere snch breach oa or betore tbe date and sale of the Properh. 71~e notice ~ sccderaKoa oE ttie sua~s secnred by tbk Mort~sge. foreclosure by jndicial proceedinR r shali furtber iaform Eorrower ot the ri~ht to reiastate dter accekntion and tbe riRht to assert ia ti~e Eorecloser~e ~ t6e oon.es~stence of a defank or sny other defe~e of Bo~ower to sccekntbn snd fonclown. lf the bre~ca Ls eat cnre~ ~u or before the date sp~ci6ed io t~e notice. l.ende~ at [.ender's option may declur aA of the wins ~ ~ t i~. Le~er chall ~ ~ immediately due and psyabk witb°°~ t°rthcr demand ~nd may forecbse d~is Ma#a[e by j~dk ProcKd ~ be eatitled to colket ia suc6 proceediuR a~ exPe°s~s "f foreclosnre. includi~, bnf ~ot ~mitsd to. re~oasbk att.,rne~'s fces. ~ ,~,~,;•~eutary evidence, abstraets and titk reports. u 19. ~orrowa's Ri6ht to Reiastde. Nc~twithctandin~c 1_encier s acceleration of the sums securod by ~h~~ ~rtgage. Borrower shall have the right to have any procecdmgs hegun ~?y I.ender to enforce this MartRage discontinued at any time ~ - a ~ ~ R 307 489 ~ B001( ~ _ _ . _ _ _ ~