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Home My WebLink About0513 ~ k . ~ ~ . Lender's written agrecmeot or applicabk l~w. Borrower shali pay the amount of all mori~ige ~surance pRmi~u in the manner provideci under paragraph 2 hereut. ~ Any amounts disbursed by I.endc~ pursua~t to ~h~ parag~sph 7. with iaterest therea~. shall become sdditional ~ iockbledness ot Bortowcr securod by ~his Mortgage. Unless Borrowe~ and Lemler agroc to othe~ tcrms of paymen~ such t amounts shall be payabk upon ~xuice frcxn 1_e~der ~0 8o~rowe~ roqualing payment theroof, and shall bear interest ft~om the ~ date of d'aburaement at the ratc payabk frnm time to time on ait:tanding~principal under the Nate unless paytne~t of ~ interest at such rate would be conirary to applicabk law, in which event such amounts shall bea~ interest at the hiahest rate permissibk u~der applicabk law. Nothing contained in this paragraph 7 shall roquire I.ender to i~cur any espense or tak~ any action hereuader. s. isspeetiow. Lender may make ar es?uu ta be made rcasonabk entries upon and inspcctions of the Property. providod that i_ende~ shali give Borrower naKe ~ri~t to.any auch inspectio~ specifying reuonabk cause therefor rclatod to La~der's ~ interest in Ihe Propeny. i` - 9. Cowdemuatioa. The proceeds of any award or claim for damages, direc~ or consoquential, in connection with any condemnation or other taking of the ikoperty, ar part Uiereot, or for conveyance in lieu of coodemnation, are he~+eby assigned and s:iall be paid to Lender. ' . in the event of a tatal taking of the Property. the proceeds shall be applicd to ~he sums secured by this MoK~aae. with the excess, if any, paid to Bonawer_ In the cvcnt of a partial taking of the Property. unkss Bomuwer and Lender atherwise agtee in writing, ther~e shall be applied ta the sums secured by this Mortgage such pmpo~tion of ihe proaeds ; as is equal to that proportion v?hich Ihe amount of the sumc cecured by this Mortgage immediately prior to the date of taking bears to the fair market value of the Propeny immediately p~ior to the date of taking, with the balance of the pmceeds paid to Bort+ower. • If the Property is abandoned by Bor:ower. or if. after notice by I_ender to Borrower that the condemnor offen to malte an award or settle a claim for damages. Borrower fail. to ny~and to Lender within 30 days after the date such notice is maikd. I.ender is authoriud to collect and apply the proceeds. at I_ender's option, eithsr to ratontian or rapair of the ProFeny or Io the sums securcd hy Ihis Mortgage. • • Unless I.ender and Borrower othervvice agree in N~rit~ng. any such application of proceeds to principal shall not exteod or postpone the due date of the monthly installmcnts rcferrcd to i~ paragraphs 1 and 2 hereof or change the amount of such installments_ 10. domower Not Released. Extencion of thc time for payment or moditication af amortization of the sums secured by this Mortgage granted by I.ender to any cuccecu~r in in~er~st of Borrower shall not ope~ate to rekase, in any manner, the liability of the original Borrower and Borrower's succesuxs in interest. Lender shall not be requircd to commence p~oceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the ~ums secured by this Mortgage by reax~n of any demand made by the ori¢inal Borrower and Borrawer s succestars in interest. 11. For6earance by I.ender Not a Waiver. Any f~rhearance h~~ l.e~der in exercising any right or remedy here~mder, or otherwise afforded by applicable law. shall not he a waiver of or preclude the exerciu of any such right or remedy_ . The procurement of insurance or the payment of tazes or other liens or charges by Lender shall not be a waiver of Lender's rigfit ta accelerate the maturiry of the indebtedness secured hy this Mortgage. l2. Remedies CamalatFe. All remedies provided in this Mortgage are distinct and cumulative to any other right or rcmedy under this Mortgage or afforded hy law or equity, and may be exercised concurrently, independently or successively. ' 13. Successors aad A~ss Bound: Jant sad Sereral i.wb~ity: Captioas. The covenants and agreements hercin contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of Lender aod Borrower. subject to the provisions of paragraph 17 hereof_ All covenants and agreements of Borrower shall be joiN and several. 71~e captions and headings of the paragraphc of this Mortgage are for co~venience only and are not to be used to interpret or define the provisions hereof. 14. NMice. Except for any nolice rcyuired under applicable law to be given in another manner. (a) any notice to Borrower provided for in this Mortga¢e shall be given by mailing such notice by certified mail addressed to Borrower at the Property Address or at such other addrec~ as Borrower may designate by notice to T.ender as provided herein. and (b) any notice to Lender shall he given hy certified mail. retum receipt requested. to I.enders address stated herein or to such other address as Lender may desienate by n~tice to Bormwer as provided herein. Any notice provided for in this Mortgage shall be deemed to have been givcn to Bc?rrower or t_ender when given in the manner designated hercin. 1S. Unifo~m MortRaRe; Governin~ Iaw: Severabilitv. This form of mortgage combines uniform covenants for national use and non-uniform covenantc with IimiteJ variations by jurisdiction to constitute a uniform security instrument covering real property. 'i~is Mortgage shall be governed h~ the law of the jurisdiction in which the Prop~rty is located. in ihe ~ event that any provision or clause of thic Mortgage or the Note conflicts v?•ith applicabk law, such conflict shall not affed ~ other provisions of this Mortgage. or~ ~he N..te which can be given etTect vKithout the conflicting provicion, and to this I end the provisions of the Mortgage and the Note arc dcclared to t?e severable. ~ 16. Eorrower's Copy. Borcower shall be furniched a conformed cop}~ of the Note and of this Mortgage at the time ~ of execution or after recordation hereof. = 17. Traasfer of the Property: ASSUmption. lf all or any pan of the Property or an interest therein is sold or tra~sferred by Borrower without Lender's prior .wrinrn consem. ezcluding (al the creation of a lien or encumbrance subordinate to this Mortgage. (b) ihe creatu+n of a purchace money cecurity interest for household appliances, (cl a transfer hy devise. descent or by operation of lavr upon the cieath of a j~~int tenant or (dl the grant of any leasehold interest of threc ycars or less not containing an option to purchase, Lender may, at Lender't option. declare all the sums stcured by this Mortgage to be immediately due and payable. I.ender shall have ~~aived such option to accelerate if. prior ta the cale o~ transfer. I_ender and the person to whom the Properry i~ to be :oIJ or transferred reach agreement in writing that the credit of such person is satisfaetory to Lenck~ and that the inter~.t pay~able on the sums seeured by this Mortgage shall be at such rate ac l.ender shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower e successor in ~ interast has executed a written auumption aFreement accepted in writing by I_ender, Lender shatl releau Borrower from all ~ obligations under this Mortgage and the Nate. Jf Lender exercists such option t~ accelerate. Lender ~hall mail Borrower notice of acceleration in accordanc. ith paragraph 14 hereof. Such notice shall provide a pericxl of nol lesc than 30 days from the date the notice is mailed w•ithin which Borrower may pay the sums declared due. If Borrower fails to pay such sums p~ior to the expiration of cuch period, ~ Lender may, without further notice ~r demand on Borrower. invoke any remedia permitted by paragraph 1R hereof. ~ NoN-UN~FOatit CoveN~rtss. Borrower and Lender further covenant and agree as follows: ~ 18. Accderation; Remedks. L:cep as provided is pa~rsph 17 henof. npos dorrowels breacM of a~y corenant or ~rceoteot of ~orrower ia this MortgsRe. iecludi~ tbe covensnts to pay whee due sny soms sKered b~' ~his M°~R~e. [.cnder ~ prbr to accekratbs sball mail ootke to Qorrower as provided ia ps~rapli 14 hereof specKyia6: (1) tl~e bresch:/2) tl~e sctbn ~ required to core srcb breseb; (3) a d~te, aot kss thsn 30 days iron~ tLe date tbe ~wtks b a~aikd to Sorrower. M' which such ~ brexa swt be cr~: aod (4) tbat failnre to cure such breach os or befo~e tbe date speci6ed ia tbe notice msy re.cuk in ~ acce{eraKo~ ot tbe soms aecw~ed by t6b Mort~sRe. fo.eclowre by j~dicial proceedi~ aed sak of tbe Propertp. 71ie notice ~ shaq farther infora~ Borrower of tbe rq~M to rci~tate aftcr sccelerNioa aad tbe rq~ht to ~ssert 1w tbe fortclowre proceed~i the ooa-e:istence of s defaWt or aoy olher dtfense of Borrorrer to acctlerNion sud forcclosore• if tbe brexh is ¦ot cured ow ~ or before 1be dste specf~d ~ t6e wlice. Lender at t.cnder's optioe declare dl of the smas secared by tbts Mo~t~al.t ro ~ una~ediatdy d~e and py~bk w'it6odt inr~hK demand ~nd msy forcclose t6k Mortp~e by jndlcial proceediuR• i.ender chdl A ~ be wtitled to collect in sncY proceediaR a0 e:penses of foreclosarc. iacludio~. bdt wt limitd t0. n~u~~ ~tt„rne~:'s ea. ~ aad costs of ~wc.:.~neNary erideecs. sbstrscls aad titk reports. ~ 19. Sorrur?e~'s Ri~,bt to Reiostate. Notwithctanding l.ender s acceleration of 1he sums securcd by thi~ M~rtga6e. Borrower shall have the right to have any proccedings t~c~un hy I.ender to enforce Ihis Mortgage discontinued at an}• time ~ ~ ~ s= ~:V ° R 307 PAGE 513 - BOOK r. , - - - _ _ w - . . , ~