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Home My WebLink About0525 . c+', ~ , ' " , Lsade~'s written agroement or applicabb kw. eorrower shall par the amo~at at aq riwrtsige insuranoe pranewm in the manner provided unde~ pars~raph 2 heceot. ~ Any smou~ts disbursed by l.ender pursusnt to this paraa~aph 7. with iate~+est thereon. shsll become additiooal indebtedness of Borrovrcr secured by this Mortgaae. Unkss Bonrower aod Lender aaaee to other tenas of paymeM. wch amounts shall be payabk upon natice from i.ende~ to Bomowe~ roquestin6 payment theroot. and shall bear inte~dt fran the date of disbursement at the nte payabk from time to time on ounta~din~ ~incipai undet the Note unless payment ot interest at such rate wa~ld be contnry to applicabk law. in which event sucfi amounb ~all besr interest at the hi~he~t rate permi:sibk under applicabk law. Nothins c~ontained ie this paragnph 7 shall require Lender to incur aay eacpe~ae or talce any action hettunder. s. I~ecMo~. Lende~ may make or cause to be made reasonabk entries upon and insp~ctions of the Propertp. poo~?ided that Londer shall give Borm~te~ ~nfi~e pnor to any such inspoction specifyins reasonabk cause thetefor related to La~der's interest in the Property. ` 9. Co~de~s~stiow. The proceeds of any award or claim for damaga, dircet or conxque~tial, in co~oectioa with any condemnation or other taking of the Propetty, or patt tAtrcof, or for conveyance i~ lieu of condemoation. are heteby assigoed and shall be paid to Leoder. ~ in the event of a total takins of the Propeny, the proceeds shall be applied to the sums secured by this Mortaaae. with the excess, if any, paid ta Borrower. in the eve~t of a pa~tial takina of the Property. unless Bomower and I.ender otherwise aaroe in writin~t. the~ shall be applied to the sums sxurcd by this Morigage such proportion of the proceeds u~is oqual to that proponion v?hich the amounl af the sums secured by this Mortgage immediately prior to the date of taki~g bears to the fair market value of the Property immediately prior to the date of taking, with the balan~x of the proceeds paid to Bomowcr. If the Property is aMndoned by Borrower, or if. after notice by Lender to Bomower that the oondannor offers to mate an award or uttk a claim for damages. Borrower failc to respond to Lender within 30 days after the date such notice is meikd. I.ender is autho~ized to colkct and apply ~he .proceeds. at Lender's option, either to restoration or repair of the Property or to the sums securcd by this Mon~tage. Urtless Lender and Borrower otherwise agree in writing, any such application of proceeds to principa) shall rwt extend or postpone ihe due date of the monthly inst~llme~ts referned to in paragraphs 1 and 2 hereof or change.the amount of such installments. ' lA. Domower Nof Releascd. Extension of the time for payment or moditication of amortization of the sums securcd by this Martgage grdnted by Lender to any cucceswr in interest of Bomower shall ~ot opente to rekase, in any manner. the liability of the original Borrower and Borrower e succeswrs in interest. Lender shall not be requircd to commence proooedings against such successor or rehise to exte~d time for payment or otherwise modify amortization of the sums secured by this Mortgage by r+eason ot any demand made by the original Borrower and Borrawer s succ~ssors in intercct. 11. Itorbesrawce by Lender NM a Wdrer. Any forl~earance by Lender in exercising any right or remody hercunder, or otherwise atforded by applicabk law, shall not be a waiver of or prcclude the exercise of any such right or remedy. 77~e procurement of insurance o~ the payment of taxes or other liens or charges by Lender shal! not be a waiver of I.tnder's right to accelerate the maturity of the indebtedness secured hy this Morigage. ~ l2. Reniedies C~mnWi~e. All remedies provided in this Mortgage are distinct and cumulative to any ~other right or remedy under this Mortgage or afforded by law or equity, and may be eaercised concurrently, independently or successively. ' 13. S~ccessors and AssiRes eonad:.loiwt sad Several i.jabiKf~; Capdoas. 'T~ covenants and agreemrnts hercin contained shall bind, and the rights hereunde~ shall inurc to, the respective successors and assigns of Lender and Borrower. subject to the provisions of paragraph 17 hereof. All covenants and agrcements of Borrower shall be jan~ and xveral. 'Il~e caPtions and headings of the paragraphc of this Mottgage are for conveniencc only and are not fa be ~ned to interpret or define the provisions hereof. 14. Notke. Except for any notice rcquired under applieabk 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 certitied mail addressed to Borrawer at the Property Address or at such aher address as Borrower may desigoate by notice to i.ender as provided herein, and (b) any notice to Lender shall he givcn by certificd mail. return raxipt rcquested. to I.ender s address stated herein or to such othe~ address as Lender may designate by notice to Borrower as provided hercin. Any notice . provided for in this ; Mortgage shall be deetned to have been given to Borrower or ~Lender when given in the manner designated hercin. ~ 1S. Unifore~ Mort~aRe: Gorernl~ I.arr: Severability. This form of mortgage combines uniform rnvenants for national ~ use and non-uniform covenants with limited variations by jurisdiction to constitute a uniforn? security instrument covering ~ real property. This Mongage shall be governed hy the law of the jurisdiction in which the Property is located_ In the ~ event that any provision or clause of thic Mortgage or the Note conflicts with applicable law, such conflict shall not aftect ~ other provisions of this Mortgage or t6e Note which can be given effect without the conflicting provision, and to this end the provisions of the Mortgage and the Note are Jeclared to be severable. ~ 16. Eorrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time of execution or after recordation hereof. ~ 17. 1Ysoder of t6e Properfy: Assamplion. 1f all or any part of the Property or an interest ihercin is sold or transferred by Borrower without Lender's prior writ~cn cornent. excluding- (a) the creation of a lien or encumbrance subordinate to this Mortgage. (b) the creation of a purcbace money security intercst for household appliances. (c) a transfer hv devise, descent or by operation of law upon the death of a joint tenant or fd) the grant of any kasehold intercst of threc years or less not containing an option to purchase, Lender may. at Lender's option, declare all the sums secured by this Mortgage to be immediately due and payable. Lender shall hove N•aived such oplion to accelerate if, prior to the cale or transfer. Lender and the person to whom the Property is to be cald or transferred reach agrcement in writing that the credit of cuch person is satis[actory to Lender and ihat the interc~t payable on the sums secured by this Mortgage shall be at such rate ac l.ender shall rcquest. if Lender has waivod the option to acceltrate provided in this paragraph 17, and if Bortower's successor in interest has executed a written assumption agreement accepted in writing by Lender. Lender shall releax Borrower from all obligations under this Mortgage and the Note. If Lender exercises such option to accelerate. Leoder shall mail Borrower.notice of acceleration~in accordanc.- H•~~h paragraph 14 hereof. Such notice shall provide a period of not las than 30 days from the date the notice is maikd within ~ which Borrower may pay the suma declared due. Tf Borrower fails to pay such sums prior to the expiration of cuch pericxi. ~ L.ende~ may. without further notice or demand on Horrower, invoke any remedia permitted by paragraph 18 hereof. a Norr-UrrtFOxM CovENerrrs. Borrower and Lender further covenant and agrce as fotlows: ls. Accek~; Remedies. Fa~cept as pravided ia Wra6rapb 17 hereof. npo~ Eorrower's 6~eac6 of sny co~eoaN or ~ a~reewest of Borrower ia tYis Mo~a~e, iwcludiaR tbe co~enaMs to pay whea dre aay srms secorea b! d~b Mort~aRe. i.eudcr ~ prior to sccelerstb~ sbap maN ~otke to eorrower as provided in p~n~rapd 14 bereot specN7hK: (1) ttie b+esch: (2) the sctioa ~ reqntred to aue soc~ breacr: (3) a d~te, uot kss tbaa 38 dsys fra~n t6e date tbe notke M ~aailed to Eorrower. bp whic6 sec6 ~ breac6 m~nt be c~n+ea; asd (q that hihre to ctire srcl~ Meach o~ or refore tbe date speci6ed ia the ootiee msy resalt ia ~ scederatio~ ot tre s~ats secued by tbis Mort`a~s. taecbsure ~ jodicW ~roceedia~ aad sak of tbe Property. 71~e notice ~ sbaU furtber foform Eorrower ot the ri61H to rciastst! afler sccek~ a+~ tl~e ri~bf to a~crt iw tbe foreclosrre proceedi~ ~ tbe oon-e:isteace ef a defark or soy otber dcfe~e of EoROwer to accekration aad tortclosare. tf t6e brescl~ is ~ot cered ow ~ ~ or before the dste speciried i~ t~e sotke. I.ender at I.ender•s optios ~ear decWe d of tue saa~s scesnd by t6ts Mort6a~e to be ~ im~ediately d~e aai pysbk witl~oet f~uiber demand ~rtd may toretlose.tbi~ Mo~tta~e bp j~dicW Peoeee~. Lender chall ~ be entUled lo coNect iw s~cr pructcdi~ sll e=peases of foreclosore. iatlodin~, brt ~ot liadte~ t0. reasoaable atbxneY's fees. ~ sed costs of doc~o~e~tary e~idence, abslracts asd titk ro~orts. 19. Don~ower's Rt~ht to Rei~ate. Notwithstanding Lender s acceleration of the sums securcd by th~s M~rtgage, Borrower shall have the right to have any proccedings begun hy Lender to enforce this Mongage discontinued at any time ~ so~K 307 oA~f 525 ~ ~ ~ _ - , - r~~«~ T . ~ . .z _ _ ~s ~ ~