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Home My WebLink About0165 Lender's written agr+oecnent or applicabk I~W,, Borrowe~ shatl pay the amount of all mortp~e insuraace pc+emiums in the man~er provided unde~ puagraph?21iee+eof, ~ Any amounts disbursed by l.ender pursuant to thit parag~aph 7. with interest ~thercon, shall become additional inJebtedness of Bo~rowe~ secured by this Mongage. Unless Borrower and LenJer agree to other terms of payment, such amouMs shall be payabk upon nMice f~om I.ender to Bonower roquesting payment thereof, and shall bea~ interost frnm the date of disbursement at the rate payabk f~om time to lime on ait:tandirig principal under the Note unless piyma~t of ~ interest at such rate would be contrary to applicabk law, in whi~h event such amounts shall beu interost at the hi6hest nte permissibk under applicable law. Nothing contained in this pa~agraph 7 shall requi~+e i.ender to incur any expe~ae or take any action hereundtr. S. lsspecfio~, [_ender may make or cauu to be made reasonabk eotries upon aod inspections of the Property. provided that I.ender shall give BoROwer ndice prior to any s?~ch inspection specifying rcasonabk cause therefor relatod to Lender's inte~est in the Property. 9. Coademuatbn. The proceeds of any award or claim for damages, direct or consequential, in connecNo~ with any condemnation or other taki~g of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to [.ender. tn the event of a total taking of the Propeny, the praceeds chall be applied to Ihe sums securcd by this Mortgage, with the excess, if any, paid to Borrower. In the event of a partial taking of the Property. u~lesc Borrower and I.ender otherwise agra .io writing. there shall be applied ta the sums secured by this Mongage such proportion of tht pmceeds as is equa) to that proporticu~ w~hich the amount of the sums secured by this Mortgage immediately prior to the date of taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the pcoceeds paid to Borrower. . If the Property is abandoned by Borrower, or if. after notice by l.ender to Bomower that the condemnor offers to mate an award or settle a claim for damages, Bc~rrower fails to respond to l_ender within 30 days after the date such notice is mailed. Lendtr ic authorized to collec~ and apply the proceeds, at I_ender's option, either to restoration or repair of the Propeny or ta the sums secured by this Mortga~te. ' Unless Lender and Borrower otherwise agree in writing, a~y such application of proceeds to principa) shall not extend or postpone the due date af the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such installments. 10. Borrov?er Nof Rekased. Extension of the time for payment or modification of amonization of the sums secured by this Mortgage granted by i.ender to any ~uccessor in inte~est of Borrower shall not operate to release, in any manner. ' the liability af the original Borrower and Borrower x successars in interest. i_ender shall not be required ta cammence proceedings against such successc~r or refuse to extend time for paymeM or otherwise modify amortization of the cums secured by this Mortgage by reason of any dema~d made by the oriRinal Borrower and Borrower s successon in intercct. l l., Forbearance by I.endcr Not a Wajver. Any forf~earance by Lender in exerc.ising any right or remedy hereunder, or otherwise afforded by applicable law. shall not be a waiver of or prerlude the exercise of any such right or remedy. The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's right to accelerate the maturiry of the indehtedness secured hy this Mortgage. ° l2. Remedies Cnmu)ati~e. All remedies provided in this Mortgage are distinct and cumulative to any other right or remedy under this Mongage or afforded hy law or equity, and may be exercised concurrendy, independenNy or successively_ ~ 13. Snccessors and A~ Bound; Joinf And Sereral i.iaM'Nty; Captions. 'i~e covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower. subject to Ihe provisions of paragraph 17 hereof. All covenants and agrcements of Borrower shall be joir{+ and several. 'il~e captions and headings of the paragraphc of this MoNgage are for convenience only and are not to be used to interpret or define the provisionx hereof. 14. Notice. Except for any notice rcyuired under applicable law to be given in anather 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 address as Borrower may designate by ~otice to T.ender as provided herein, and (h) any notice to Lender shall he given by certified mail. retum receipt requested. to i.enders address stated herein or to ~I such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this ~ Mortgage shall be deemed to havc l+een Riven to Borrower or Lender when given in the manner designated herein. 15. Uniform Morf~e; Governi~ Iaw: Severabilifv. This form of mortgage combines uniform covenants for national i use and non-uniform covenants with limited variations by jurisdiction :o constitute a uniform security instrument covering rea) property_ This Mortgage shall be gaverned hy the law of the jurisdiction in which ihe Property is located. In the ~ event ~hat any provision or clause of thic Mortgage ~r the Note ~onflicts with applicable law, such conflict shall not affect ; other provisions of Ihis Mortgage or ~he Ni~te which can be given effect without the conflicting provi~ion, and ta this j end the provisions of the Mortgage and the Note are declared to be severable. ' 16. Borrower's Copy. Borrower shall be furni~hed a conformed copy of the Note and of this Mongage at the time F of execution or after recordation hereof. ! 17. Trancfer of the Property; Assumplion. lf all or any part of the Property or an interest therein is sold or transferred ~ by Borrower without LendePs prior writtrn consent. excluding lal the creation of a lien or encumbrance subordin~te to E this Mortgage. (b) the creation of a purchace mone~• tecuriry interest for household appliances, (c1 a transfer hy devise. descent or by operation of law upon the death of a joint tenant or (dl the grant of any. leasehold interest of threc ycars ar less , ~ not containing an option to purchase, Lender may, at I_ender's option, declare all the sums secured hy this Mortgage to be s immediately due and payable. Lender shall have w•aived such option to accelerate if, prior to the sale or transfer. I.ender ~ and the person to whom the Property ic ta be colJ or transferrcd reach agreement in writing that the credit of such person i ' is satisfactory to Lenckr and that the intercct payable on the sums secured 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's successor in ~ interest has eaecuted a written assumption agreement accepted in writing by I.ender, Lender shall release Borrower from all ~ obligations under this Mortgage and the Note. , ~ If Lender exercius such option to accelerate. Lender shall mail Borrower notice of acceleration in accordancr ~~h ~ paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed wi~hin . ~ which Borrower may pay the sums declared due. If Borrower fails ro pay soch sums "prior to the expiration of ~uch periud, ~ Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hercof. ' 5 ' Notv-Utv~FORt~t CovErreNTS. Borrower and Lender further covenant and agree as follows: i 18. Acceleratioo; Remedies. Except as prorided in pa~nph 1~ ber~of, npon Borrower's breach of any covenant or agreemeat of Borrower in this Mortgs~e, including tbe co~enants to pay wheo dne aay snms secend by this Mortgage. I.ender fi ~ prior to accelerstion shall mail aotke to Eorrower as prorided in para~nph 14 hereot specifyio~: (1) the Mesch:/2) the action ~ required to cure socb breac6; (3) a date, not kss ttwn 30 days from the date tl~e notice Ls matled fo Eorrower. Dy which wcb ; breach must be cored; sod (4) lhat failnre to cure sach breacb on or before t6e d~e specified ia the notke may resdt in " scceleration af t6e sams aecared by thts Mortga~e. toseclosure by judicisl pmceedin~ and sale of tbe Pmperty. 'Il~e notice shall fuct6er inform Borrower of the right to rein~tate after acceleration aad tbe right to a~crt in tl~e foreclosore pruceedia~ : tbe non-eaistence ot a default or aoy other defe~e of EoROrrer to accekration and forecbwrc. If the breach is aot cnred on ~ ~ or before the date speei6td in t6e notke. Lender ~t I.en~er's option may decfare sll of the sams secured by this Mort~a~e fo 6e ' v immediately due and paysbk without fnrther dem~nd ~nd may torecbse thts Mort~ate by jodicial proceedie~. i:ender chall ~ be entitkd to collect in socb proceeding a0 expenses of toreclosurc. inclndin`, bnt not limited to, rcasonabk att~,rnev's fees. ~ aod costs of docuauntary evidence. abstracts and titk reports. s 19. Bornn~?er's Ri`6t to Rtioetate. NAlN•ithstanding t_ender's acceleration of the sums securcd by thic M~rtgage. ~ Borrower shall have the right to have any proceedings t~egun hy Lender to enforce this Mortgage discontinued at any time ~ ' BOOIf JO~ ?AGE 1~ ~ ~ ' I ~ ~ : ~ ~ ~ - • . , :