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Home My WebLink About0501 ~ , ' . . . ~ • . i l.eoder's writtcn ugn:ement or applicabb low. Bortower shali pay ~he amount of afl monsa~e uusura~q prt~niurtu in the manner provideJ unde~ parag~aph 2 heroof. ' ~ Any- amounls disbursed by I.e~der pursuant lo this pa~agrsph 7, wi~h inte~at thereo~, shail become additional inckbtedness ot Borrower secured by Ihis Mohsage. Uniess Bwrower anJ l.eoJer agree to other lernu ~~f payment. such , amounts shall be payabk upon nc~lice from I.ender to Bonower rcquesting payment thereot. and chall bear intercst fmm the date of d'ubursement at the ratc payabk from time ta lime on outatanding principal under the Note unless paym~t of interat at such rate would be contrary ta applicabk law, in which event such amounts shall bear interest at the highest nte permiuibk under applicabk law. Nothing contained i~ this paragraph ~ shall rcquire I.ende~ to incur any expense or takt a~y actian hereuuder. , & I~spectlo~. T.ender may make or rause ta be madr reaconabk enlriec upon and inspections of tht Property. provided that i.e~de~ shall give Bonower notice pri jQ aay such i~spection specifying rcasonabk caux therefar related to I..ender'a interesl in the Property. c f 9. CowdemaaMoa. The proceedi ~f any award ar claim for damages. direct o~ consequential, in connection with any condemnation o~ other taking c~f the Property, or part tAercc~f, or for conveyance in lieu of cotidemnation. are hereby usigned and s.iall be paid to Lende~. ~ ln the event af a total taking of the Pmpeny. the prcxeecis shall he applied to the sums securcd by ~his Marigage, with the excess, if amr, paid to BoROwer_ In thc cvcnt of a partial taking of the Property. unless Borrower and Lender othenvise agrce in writing. Iherc shall be applied to Ihe ~ums sccurcd by thic Mortgage such propo~tion of ~he proceecls as is equa) to that proportio~ which the amount c?f the sumc cecured by this M~rtgage immediately prior to the date of taking bears to the fair market value of Ihe Propeny immediately prior to the date of taking, with the balance of the proceeds paid to Borr+ower. If tf~e Property is aF?andonecl by Bc~r:ower. or if. after notice by l.ender to Borrower thst the rnndemnor offers to mske an award or settk a claim for damages, &~rre.wer fails to res~nd to l_ender within 30 days afte~ the date such notice is maikd, Lender is authorized to collect and apply the proceeds. at 1_ender s option, either to restoration or repair of the Property or to.the sums seeurcd M• this Mort~a¢e. Untesc I.ender and Borrower otherwice agree in w•riting, any such application of proceeds to principal shall not extend c~r postp~ne thc due date of the momhly inslallmcnts referred ta in parag~aphs I and 2 hereof or change the amount of such installrr~ents. 10. ~orrower Not Rekmd. Extension of the lime f~~r payment or modification of amortizalion of the sums secured by this Mortgage granted by I.ender tc? any a~ccecu~r in interect of Borrower ~hall not a~~ate to release, in any manner. the liability of the origina) Borrower and Borrower's successc~rs in interest. Lender shall not bt required tc+ commence proceedings against such successor or refuce to e~lend time for payment or otherv?•ise modify amortizat~on of thr wms secured by thic Mortgage by reason of demancl made b~• ~he orieinal Borrow•er and Borrower s succescors in imerect. 11. Forbearance by Lender Not a Waive~. An~• f~rhearancc h~~ Lrnder in erercising anv right or remedy hereunder, or otherwise afforded by applicable law. shall not be a wai~~er of or preclude the exercise of an~~ such right or remedy. The procurem~nt of insurance or the payment of tares or other liens ~~r charges b}• i.ender shal) not be a v?•aiver of l.ender s right to accelerate the maturiry of the indehtednecs ~ecured h}• thic Mortgage. 12. Remedies Cnmulatire. All remedies provided in this I?lortgage are distinct and cumulative to any other right or remedy under this Mortgage or afforded hy law or equity. and may be exercised concurrenlly, independently or soc•.essively. ~ I3. Snecessors and As~as Bound; .Joint and Se~•eral LisbiNty; Csptions. The covenants and agreemen's herein contained shall bind, and the rights herzunder shall inure to. the rcspective successors and astigns of i.ender at~d Borrower_ subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be j~iru and several. "Il~e captions and headings of the par~graphc ~f thic Mongagc arc for convenience only and are not to he used to interpret or define the provisions hereof. 14. NMiee. Except for any notice reyuired unekr applicable law to be given in another manner. !a) any notice to Borruwer provided for in this Mnrtgaee ~hall he given hy mailing such notice by cerlified mail addressed to Borrower at the Property Address or at such ~~thcr addrc~. as Borr~w•er ma~• designate by notice to Lender as provided hercin, and (b) any notice to Lender shall he given by certified mail, retum receipt rrquested. ta l.ender c address stated herein or to sueh other address as Lender may decienate by n~tice t~• Bormwer as provided herein. Any notice pmvided for in this Mortgage shall be deemed to havc hecn givcn to Bc?rmwer or l_cnder when given in the manner designated herein. IS. Uniform MorlRa~e: Governi~ Iaw•: Se~•erabilit~•. Thic form of mortgage combines uniform covenants for national use and non-uniform covenants with limited variations hi• juriuiiction to consti~ute a uniform security instrument covering k real propeny- "fl~ic Mortgage shall be governed hv thc law~ of the jurisdicticx~ in which the Property is located. In the t evtnt that any provision or clauce of thi~ h1ortgage ~~r the Note conflictc with applieable law, such confliet shap not affieet E other provisions of Ihis MoNgage or the Nate which can I~given efiect wi~ho~tt the conflicting provision, and to this ~ end the provisions of thc Mortgagc and the NMe arc .Mclared to be severable. ~ 16. Eorrower's Copy. Borrower shall t+c furni~hed a conformed cop~ of the Note and of this Mortga~ge at the time ~ of execution or atter recordation hereof. 17. Transfer of t6e Property; Assumption. If all ~r an}• part of the Property ot an interest therein i~ sold or transferred by Borrower without Lender s prior writ~rn cuncent_ e~cluding (al the creation of a lien or encumhrance subordinate to this Mortgage. (b) the creat~on of a purch~ce m~~ne~• ucurit~• mterest for household appliances, fcl a transfer hy devise. descent or by operation of law upon the Jeath of a jo~nt tenant or (eil the grant of a~y leasehold interest of thrcc ~cars or less not containing an option to purchase, I.ender may, at I.ender's option, declare all the sums secured hy this Mortgage to !~e immediately due and payable. Lender shall have wai.~rd such option to accelerate if, prior to the cate or transfer. I.enckr and the person to whom the Property ic to be ;o1J «r tranaferred reach agreement in writing that the credit of wch percon is satisfactory to I_enJer and that ~he imerr.t pa~•able on the sums secured by thic Mortgage shall be at such rate a~ I_cnder shall request. If i.ender has waived the option to accelerate pravided in this paragraph i7. and if Borrower's successor in interest hac executed a written axcumption agreement accepted in writing by l.ender, Lender shall release Borrower from all obligations under this Mortgage and the Note. ~ tf Lender exercises such option to accelerate. Lender ~hall mail Borrower notice of acceleration in acrnrdancc ~eh paragraph 14 hercof. Such notice shall provide a pericxi of not lesc than 30 days from the date the notice is mailed vrithin which Borrower may pay the sums efeclared due. if Borrower fails to pay such sums prior to the expiration of wch peri~xl. Lender may, without further notice ~r demand on ~r~ower. invoke any remedies permitted hy paragraph IR he~cof. ~ Nox-UH~FORM CoverreNTS. Borrower and Leodec further covenant and agree u follows: ~ l8. Accekntbs; Rcmedla. Excep as pmvided in paraRrsph 17 hcreal. npon Bor~ower's brescb of any covenant or ~ s~reement of Borrower in this MortgaRe. includin~ tbe coreaants to pay wbee doe sny wms aecered by t6is MorlRa~e. i.ender ~ , prior to acceleration s1~a11 mail aotice to dorro~+er as providcd ia pan~npb 14 bereof specifyio~: (1) the MracA: (2) the action required fo cnre soch brtac6; (3) s date. not le~ t6an 30 davs from the dale tbe aotice [a maikd to eorrower. by which wch ~ breach me~t be crred; aod (4) that failurr lo curc such breacb on or beforc tbe dste spec~'ied in Ihe notice mar rccWt in ~ accderatioe of tbe sams secured Sr this Mortga~e. forecbsurr by judicial proceedta~ aad sale of Ibe Pmperty. 'Il~e notiee ~ sblU further iaform Eorrower d tbe ri~ht to reinslate sfter accekration aad tbe ~ht to ~ert ia tbe foreclos~re proceedin~ ~ t4e non-existence Qf a defaeN or sny olher defense of Borrower to accekration and toreclosure. If fhe breacb is not cured on ~ or beforr the date sperified ia the notice. Lender ~t I.cnder's option may dectare aM of tbe sams secrred by thLs MortRa~e to be immediattly due and paysble rrithoat tnrther dem~nd ~nd may forecbse tbls Mort~a6e by judicid proctedia~. i.~nder chall be enttded lo collect in soc6 proceedi~ AN e:penses nf foreclosurc. includia`~ but not limited to. re~onable attnrnr;'s fces. _ sod eosts ot wic~~eentary eridence, abstrscts and Iitk repoirts. ~ 19. dorrowa's Ri`bt to Reiustste. Notw~ithstanding LenJer's uceleration of the sums xcured by th~~ M.~rtgage, Borrower shall have the right to have any proceeding~ heg~~n ~y l.ender to enforce this Mortgage discontinued at an}• time ~ ~ ~ ~ . ~ gooK~o7 ~f 501 . ~ _ . _ : ~ l.~ ~_w.._ _ . ~-~f